Profit and adjusted EBITDA measure different things
Frontera Energy reported third-quarter 2026 results on November 11, with the quarter ending September 30. Adjusted EBITDA rose 16% year over year to US$34.8 million. This is a non-IFRS measure, rather than net profit.
Net income from continuing operations was US$11.7 million, compared with US$17.6 million a year earlier. The adjusted EBITDA increase therefore should not be read as an increase in continuing-operations net income.
The LNG project has not opened
The company says its Puerto Bahía LNG project in Cartagena, Colombia, is 71% complete and expects operations to begin in February 2027. That is a forward-looking target, not a confirmed opening date.
The project is backed by a take-or-pay agreement with Ecopetrol. Frontera also sanctioned a second LPG phase targeting operations in 2028; LNG and LPG are separate projects.
Read the comparison basis
Frontera says prior-period figures were re-presented for continuing operations, and certain adjusted figures exclude assets sold under its arrangement involving Parex. Read the issuer’s definitions and reconciliations before comparing different reports. All amounts above are US dollars.
