With high profits, but also large losses, the operations of 12 public enterprises, which are in charge of the Coordinating Society of Public Enterprises (EMCO), have been developed. In the new transparency platform that EMCO has just opened to the general public, there is data that reveals which have had the best and worst results, with a cutoff of 2022.

As of December 2022, 12 public companies (five strategic and seven non-strategic) had revenue of $20,934 million and expenses of $16,052 million; which leaves a positive result of 4,882 million dollars.

However, the company that has the greatest presence in this type of result is EP Petroecuador, which had revenue of $17,126 million and expenses of $12,366 million, generating a positive result of $4,760 million higher than $3,868 million in 2021. This result from 2022 .Petroecuador is equivalent to 97% of all companies.

Another company that stands out for its results is Flopec (the state-owned oil fleet), which is also performing well, after coming out of significant declines in recent years. So – always according to the platform – in 2020, it quite recorded negative results of 11.7 million dollars, in 2021 it has already recovered with a positive result of 13.1 million dollars, and in 2022 it closed with 177.3 million dollars in favor. This last positive figure was obtained by revenues of 981 million dollars and expenses of 803 million dollars.

On the other hand, the companies that made the biggest losses are CNT, Celec and EPA (Public Water Company).

In CNT’s case, it recorded $537 million in revenue but $584 million in expenses, giving it a negative result or loss of $47 million. This is a very poor result if you consider that in 2021 the result was positive and amounted to $64.2 million.

The second public company with the worst results is Celec, which in 2022 had 815 million dollars in revenue, but 843 million dollars in expenses, or a negative result of 27 million dollars. The company shows negative results since 2019. In 2019, it had results of -14 million dollars, in 2020 -30 million dollars, in 2021 -61 million dollars. EPA had a result of – 15.1 million dollars in 2022.

According to Jorge Benavides, president of the Management Board of EMCO, in addition to the active companies, there are currently six in liquidation, among which three are closer to closure, which could also happen within the current Government. These are Correos del Ecuador, Railways and public media.

Currently, these three are in the process of handing over assets and liabilities and must complete the process with a public closing act. Currently, the most advanced is Ferrocarriles del Ecuador. The property has even already passed the Ministry of Transport, which has reactivated the Alausí route. In the future, the Ministry could think about what figure it would be possible to continue with the management or concession of that railway.

Benavides comments that what was required during this time was to try to reduce the size of public companies, which reached 20. The idea was to work under a corporate government and the understanding that public companies were created to manage strategic sectors. and guarantee the provision of public services.