The Federal Electricity Commission (CFE) registered in the first half of 2021 a net loss of 14,000 million pesos (mp).
This figure is 85.5% lower than that of the same period of 2020, when it amounted to 96,781 million pesos, according to financial results reported by the State productive company headed by Manuel Bartlett Díaz to the Mexican Stock Exchange (BMV).
He explained that the improvement in this net result was due to the policy of stabilizing and reducing, as far as possible, production costs and financial risks of direct debt and its obligations in foreign currency.
The foregoing, “through a comprehensive hedging strategy through derivative financial instruments and debt renegotiations, for the benefit of the company.”
Regarding its sales, between January and June 2021 they reached 285,963 million pesos, an increase of 15.5% in relation to the same period of last year.
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According to the national electricity company, this is due to the increase in income from the sale of fuels to third parties and from the sale of energy, after the recovery of demand for electricity and fuels in the different sectors of the Mexican economy, as the effects were overcome. of the pandemic.
While its operating costs were located at 279,168 million pesos, an increase of 93,664 million pesos compared to the period being compared.This was due to an increase in fuel prices, specifically natural gas, caused by the winter storm in Texas that occurred last February.
In the first six months of the year, an operating flow (Ebitda) of 40,843 million pesos was generated, this without including the provision of labor liabilities and of 63,331 million pesos when considering said reserve item. The results reflect the good financial and operational performance of the company.
Finally, CFE’s net debt increased 3.3% due to the provision of credit lines to pay the increase in the fuel bill for February and, on the other hand, the revaluation of liabilities in dollars for the appreciation of the peso against the dollar at the end of June 2021 compared to December 2020.
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