Grupo ANCAP obtained profits of 128 million dollars in the first semester

Grupo ANCAP obtained profits of 128 million dollars in the first semester


This Friday, August 19, ANCAP presented the “statement of results corresponding to the first semester of 2022”.

The report shows a positive result of “12 million dollars in the monopoly market, resigning revenues of 130 million dollars, for sales below import parity.”

Likewise, the companies of the “ANCAP Group” as a whole achieved a profit of 128 million dollars.

“The contribution of the non-monopoly businesses gives a profit of 43 million dollars, DUCSA contributes a profit of 16 million dollars and the set of the other companies of the group, a loss of 4 million dollars,” the report indicates. .

Another aspect that was presented is that the group’s results also include “a financial result of 57.5 million dollars, mainly due to the appreciation of the Uruguayan peso, profits from sales to UTE for generation in the local market for 14.5 million dollars (practically all in the first quarter), monetary hedging result of 11 million dollars and taxes and miscellaneous for -22 million dollars.

It is also noted that during this semester, ANCAP “innovated in operations to hedge exchange rate risk with tenders with local banks, which complement the actions of the Central Bank of Uruguay to generate a different dynamic in the sector.”

planned stoppage

In another order, it was reported that next September there will be a planned maintenance stoppage at the refinery, which will impact the company’s numbers.

“During this period there will be greater exposure to falling domestic prices and there will be a loss of refining margins,” ANCAP reported.

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