Company Overview

Ecopetrol S.A. operates as an integrated energy company headquartered in Bogotá, Colombia. The company was founded in 1948 and has evolved into Colombia's national oil company and one of Latin America's largest integrated energy enterprises. Ecopetrol has 18,903 employees and trades on both the Colombian Stock Exchange (BVC: ECOPETROL) and the New York Stock Exchange (NYSE: EC).

Business Segments

The company operates through four primary segments:

- Exploration and Production: Engages in the exploration and production of oil and gas. Operations are conducted in Colombia, Peru, Brazil, and the United States Gulf Coast.

- Transport and Logistics: Involved in the transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet fuel, and biofuels.

- Refining and Petrochemicals: Refines and processes crude oil at the Barrancabermeja and Cartagena refineries, and distributes natural gas and LPG. This segment is the primary revenue generator for the company.

- Electric Power Transmission: Includes operations through ISA, contributing to energy infrastructure development and maintenance.

Financial Performance

Latest Financial Results (Q2 2025)

- Revenues: COP 29.7 trillion

- EBITDA: COP 11.1 trillion (37.5% margin)

- Net Income: COP 1.8 trillion

First Half of 2025 Performance

- Revenues: COP 61.0 trillion

- EBITDA: COP 24.4 trillion (40% margin)

- Net Income: COP 4.9 trillion

Annual Performance (2024)

- Revenue: COP 133.33 trillion (a decrease of -6.82% from the previous year)

- Net Income: COP 14.93 trillion (a decrease of -21.65% from the previous year)

- EBITDA: COP 54.1 trillion (41% margin)

- Gross Debt/EBITDA Ratio: 2.2 times

- Return on Capital Employed (ROACE): 10.2%

Market Capitalization and Valuation

- Market Capitalization: $18.44 billion (as of 2025)

- Financial Health Score (InvestingPro): "GOOD"

- P/E Ratio: 5.94

Dividend Information

- Ecopetrol S.A. pays dividends quarterly.

- Most Recent Payout: July 7, 2025

- Last Recorded Dividend Per Share: $0.520 (as of July 7, 2025)

- Dividend Yield (TTM): 17.32%

Strategic Initiatives and Expansion

Renewable Energy Portfolio

As of the end of Q2 2025, the Group has incorporated a total of 630 MW of renewable energy:

- In Operation: 208 MW

- Purchases in Wholesale Energy Market: 228 MW

- Under Construction: 95 MW

- In Execution: 99 MW

The company has signed an agreement with Norway's Statkraft to acquire 10 wind and solar energy project development companies.

Operational Achievements

- Marine Fuel Export: Made its first export of 185 thousand barrels of IFO 380 marine fuel from the Cartagena Refinery to Cape Canaveral on June 9, 2025.

- Asphalt Exports: Set a record in liquid asphalt exports, reaching a historic volume of 56,700 tons exported in May 2025, consolidating its position as Latin America's main asphalt exporter.

Investment Highlights

- Integrated Operations: Covers the complete value chain from exploration and production to refining and distribution.

- Geographic Diversification: Operations span across Colombia, Peru, Brazil, and the United States.

- Renewable Energy Transition: Significant investments are being made in wind and solar energy projects.

- Strong Dividend Yield: Offers an attractive dividend policy with regular quarterly payments.

- Market Leadership: As Colombia's national oil company, it holds an established and dominant market position.

Recent Developments

Ecopetrol and Aerocivil have signed the "SAF Vuela" program to promote the development of sustainable aviation fuels (SAF), aiming to strengthen infrastructure and position Colombia as a regional benchmark in aerial decarbonization. The company continues to prioritize operational excellence while actively transitioning towards cleaner energy alternatives.

Next Earnings Report: Ecopetrol S.A. is scheduled to release its next earnings report on November 11, 2025, providing investors with updated financial performance metrics and strategic progress updates.