CFE reports net loss of 95,371 million pesos in 2021

The Federal electricity commission (CFE) closed 2021 with a net loss of 95,371 million pesos, which was even worse than that at the end of 2020 in which the company lost 85,996 million pesos, because although its sales slightly improved, its operating costs due to the increase in fuel prices and his lack of availability, did not allow him a better result.

The accumulated income at the end of the fourth quarter of 2021 They were 565,687 million pesos, a figure higher by 62,830 million compared to what was registered in 2020 and with an increase of 12.5 percent.

This is due to the fact that the CFE had higher revenues from fuel sales (gas) to third parties, supply of electric power and service of energy transport.

“The effects of Economic recovery of the country have increased the electricity sales in the industry sectors, domestic and commercial, mainly. Subsidy income (SHCP transfers) registered for 2021 (70,279 million) are similar to those registered in 2020 (70,000 million), “explained the CFE.

But as of the fourth quarter of 2021, CFE operating costs were 585,396 million, with an increase of 101,377 million, equivalent to 20.9% compared to the same period of the previous year.

This increase is explained by the rise in the price of natural gas caused by the climate emergency in Texas in February and the high volatility in fuel prices in the second half of 2021, justified the state-owned electricity company.

Meanwhile, the line of total liabilities of the company showed an improvement, since it went from 1,583 to 1,543 billion pesos between one year and another.

On the other hand, in the cost of Employee benefits A reduction of 61.4% was observed for the end of 2021 compared to what was registered in 2020, after which at the end of 2021 it stood at 375,116 million pesos.

The measures adopted in terms of financing and financial risk management during 2021 have made it possible to reduce the integral cost of financing by 19.1% in relation to what was registered in 2020. The lower costs in the items of net financial expenses and exchange loss stand out, with a decrease of 37.3% and 36.6%, respectively, in relation to the end of 2020. Likewise, the CFE has improved the maturity profile of its debt in line with the useful life of its assets, reducing short-term obligations by 31.1% in 2021 compared to exercise 2020detailed the CFE.

At the end of the fourth quarter of 2021, a EBITDA positive of 48,107 million. At Statement of Financial Positionthe total assets of the CFE at the end of the fourth quarter of 2021 increased 3.5% compared to the end of 2020, standing at 2 million 245,084 pesos.

Leave a Comment