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Celsia Gains for Second Day on 51% Profit Jump: Bogota Mover

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Feb. 20 (Bloomberg) -- Celsia SA, the fourth-biggest power generator in Colombia, rose for a second day after reporting a 51 percent jump in annual earnings, with revenue that beat brokerage firm Correval SA’s estimate.

Celsia rose 1.4 percent to 5,970 pesos at 12:56 p.m. in Bogota. The shares have gained 12 percent this year, the second-best performer on the Colombian stock exchange’s IGBC index, which has returned 0.6 percent.

Net income gained 51 percent to 230.8 billion pesos in 2012 from the prior year, according to a filing late yesterday. Operating revenue rose 9.4 percent to 2.02 trillion pesos, exceeding Correval’s estimate of 1.99 trillion pesos.

The Medellin-based company will propose an 11 percent dividend increase to 100 pesos per share to be approved by holders at a March meeting, according to the filing.

Celsia, which is controlled by the Medellin-based investment company Grupo Argos SA, is Colombia’s fourth-biggest generator, according to its website. The company has an installed generating capacity of 1,777 megawatts, according to yesterday’s filing.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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