EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

ESTADOS DE LA SITUACIN FINANCIERA CONSOLIDADA / CONSOLIDATED STATEMENT OF A Mar 2016 / A Dic 2015 / A Sept 2015 / A Jun2015 / A Mar 2015 / A Dic 2014 /
FINANCIAL POSITION As of Mar 2016 As of Dec 2015 As of Sept 2015 As of Jun 2015 As of Mar 2015 As of Dec 2014

(Miles - Pesos / Thousand - Pesos )

Activos / Assets
Activos corrientes / Current Assets
Efectivo y equivalentes al efectivo / Cash and cash equivalents 355,481,779 594,299,625 755,186,775 861,552,502 924,077,661 869,596,741
Inversiones corrientes / Current investments 3,630,319 27,757,764 - ### - 262,737,158
Cuentas comerciales por cobrar y otras cuentas por cobrar corrientes / Commercial accounts receivable
257,551,004 243,891,547 289,790,802 75,927,170 253,237,541 238,376,457
and other current accounts receivable
Inventarios corrientes / Current inventory 20,831,414 20,774,890 17,227,738 30,402,830 57,685,264 13,241,252
Activos por impuestos corrientes, corriente / Current tax assets, current 210,221,474 197,708,258 197,281,580 190,383,549 186,695,922 169,520,166
Otros activos financieros corrientes / Other current financial assets 49,918,556 49,602,980 66,421,547 76,161,203 59,858,969 43,765,142
Otros activos no financieros corrientes / Other current non-financial assets 26,059,695 9,482,683 11,858,142 19,189,903 26,485,861 12,837,761

Total activos corrientes distintos de los activos no corrientes o grupo de activos para su
disposicin clasificados como mantenidos para la venta o como mantenidos para distribuir a los propietarios
923,694,241 1,143,517,747 1,337,766,584 1,253,617,157 1,508,041,218 1,610,074,677
/ Total current assets other than non-current assets or any other group of assets classified as held for sale or
maintained to be distributed to shareholders

Activos corrientes totales / Total Currenta Assets 923,694,241 1,143,517,747 1,337,766,584 1,253,617,157 1,508,041,218 1,610,074,677
Activos no corrientes / Non-Current Assets
Propiedades, planta y equipo / Property, plant and equipment 2,776,034,357 2,783,111,367 2,631,651,281 2,488,122,934 2,386,047,876 2,427,997,651
Plusvala / Capital gains 26,283,671 ### 26,283,671 ### 26,283,671 26,283,671

Activos intangibles distintos de la plusvala / Intangible assets other than capital gains 447,304,387 433,985,431 418,063,370 402,583,218 389,868,024 386,464,886
Inversiones contabilizadas utilizando el mtodo de la participacin / Investments accounted using the equity
641,253 ### 14,430,365 14,430,364 6,735,647 641,985
method
Inversiones en subsidiarias, negocios conjuntos y asociadas / Investments in subsidiaries, joint ventures
4,769,005 ### 4,769,005 ### 4,769,005 4,769,005
and partnerships
Cuentas comerciales por cobrar y otras cuentas por cobrar no corrientes / Commercial accounts receivable
20,789,082 21,892,368 137,983,861 17,359,386 17,779,318 18,986,675
and other non-current accounts receivable
Activos por impuestos diferidos / Deferred tax assets 488,586,604 ### 376,124,533 374,949,603 336,237,221 322,624,552

Otros activos no financieros no corrientes / Other non-current non-financial assets 2,235,766 2,284,067 2,325,160 2,410,817 2,488,423 2,573,771

Total de activos no corrientes / Total non current assets 3,766,644,125 3,761,553,766 3,611,631,246 3,330,908,998 3,170,209,185 3,190,342,196
Total de activos / Total assets 4,690,338,366 4,905,071,513 4,949,397,830 4,584,526,155 4,678,250,403 4,800,416,873
Patrimonio y Pasivos / Equity and Liabilities
Pasivos / Liabilities
Pasivos corrientes / Current Liabilities
Obligaciones financieras corrientes / Current borrowings 6,700,891 323,681 944,011 1,017,392 1,145,920 1,105,643
Disposiciones actuales / Current provisions

Provisiones corrientes por beneficios a los empleados / Current provisions for employee benefits 43,995,613 46,858,423 45,509,032 41,089,540 29,773,952 31,861,194

Otras provisiones corrientes / Other current provisions 6,983,451 2,956,676 7,414,565 7,239,989 7,659,339 6,495,503
Total provisiones corrientes / Total Current Provisions 50,979,064 49,815,099 52,923,597 48,329,529 37,433,291 38,356,697
Cuentas por pagar comerciales y otras cuentas por pagar / Commercial accounts payable and other
474,405,714 611,203,367 648,485,708 302,280,650 401,450,626 466,263,748
account payable
Pasivos por impuestos corrientes, corriente / Current tax liabilities, current 94,762,315 105,562,358 88,640,443 58,243,716 74,215,871 57,181,134

Otros pasivos no financieros corrientes / Other current non-financial liabilities 143,363,843 152,323,178 121,892,926 120,081,448 111,406,123 127,499,543

Total de pasivos corrientes distintos de los pasivos incluidos en grupos de activos para su
disposicin clasificados como mantenidos para la venta / Total current liabilities other than the liabilities 770,211,827 919,227,683 912,886,685 529,955,244 625,651,831 690,406,765
included in asset groups classified as held for sale

Pasivos corrientes totales / Total Current liabilities 770,211,827 919,227,683 912,886,685 529,955,244 625,651,831 690,406,765
Pasivos no corrientes / Non-Current Liabilities - - ### - -
Obligaciones financieras no corrientes / Non-current borrowings 530,180,000 ### 530,180,000 ### 530,180,000 530,180,000
Provisiones no corrientes / Non-current provisions - - ### - -
Provisiones no corrientes por beneficios a los empleados / Non-current provisions for employee
273,975,732 275,598,716 319,833,631 325,298,128 336,902,585 337,171,349
benefits
Otras provisiones no corrientes / Other non-current provisions 341,069,649 340,290,711 189,981,512 189,494,285 189,157,427 188,548,590
Total provisiones no corrientes / Total non-current provisions 615,045,381 615,889,427 509,815,143 514,792,413 526,060,012 525,719,939
Cuentas comerciales por pagar y otras cuentas por pagar no corrientes / Commercial accounts payable
358,502,877 ### 370,160,533 405,780,209 1,576,490 1,576,489
and other non-current accounts payable
Pasivo por impuestos diferidos / Deferred tax liabilities 184,669,050 184,303,931 197,628,494 197,628,495 211,980,792 223,172,618

Otros pasivos no financieros no corrientes / Other non-current non-financial liabilities 10,630,099 10,644,092 3,365,262 3,391,979 3,516,637 3,563,572

Total de pasivos no corrientes / Total Non-Current Liabilities 1,699,027,407 1,699,520,327 1,611,149,432 1,651,773,096 1,273,313,931 1,284,212,618
Total pasivos / Total Liabilities 2,469,239,234 2,618,748,010 2,524,036,117 2,181,728,340 1,898,965,762 1,974,619,383
Patrimonio / Equity - - ### - -
Capital emitido / Issued Share Capital 1,924,419 ### 1,924,419 ### 1,924,419 1,924,419
Prima de emisin / Share Premium 262,471,466 ### 262,471,466 ### 262,471,466 262,471,466
Resultado del ejercicio / Fiscal year results (60,203,144) (36,538,108) 111,286,112 67,930,766 48,327,232 (37,757,439)
Ganancias (prdidas) acumuladas / Year-to-date profits (loos) 375,773,382 444,432,113 685,809,832 ### 685,809,832 851,454,850
Otras participaciones en el patrimonio / Other equity interests 30,854,733 (1,265,890) (1,265,888) (1,265,890) (1,265,890) -
Reservas / Reserves 1,607,587,751 ### 1,335,529,953 1,359,399,033 1,770,413,752 1,739,733,672
Otras reservas / Other reserves

Patrimonio atribuible a propietarios de la controladora / Controlling shareholder equity 2,218,408,607 2,278,611,751 2,395,755,894 2,376,269,626 2,767,680,811 2,817,826,968

Participaciones no controladoras/ Non-controlling interests 2,690,525 7,711,752 29,605,819 26,528,189 11,603,830 7,970,522
Patrimonio total / Total Equity 2,221,099,132 2,286,323,503 2,425,361,713 2,402,797,815 2,779,284,641 2,825,797,490
Total de patrimonio y pasivos / Total Equity and Liabilities 4,690,338,366 4,905,071,513 4,949,397,830 4,584,526,155 4,678,250,403 4,800,416,873
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1T 2016 /
Estado de resultados / Income Statement
1Q 2016

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 378,818,010
Ingresos de Operacin /Operating Income 365,873,646
Recuperaciones y Otros / Recoveries and Other 12,944,364
(-) Costos y gastos Totales / Total Costs and Expenses 432,012,927

Costos y Gastos Gestionables / Manageable Costs and Expenses 432,012,927

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) (53,194,917)

Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(4,144,504)
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 2,379,033

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (270,304)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes (55,230,692)
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
4,677,191
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) (59,907,883)
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) (59,907,883)
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 dic 2015/ 4T 2015/

Estado de resultados / Income Statement
1st Jan - 31 Dic 2015 4Q 2015

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 1,506,435,691 418,516,981
Ingresos de Operacin /Operating Income 1,441,447,057 402,510,511
Recuperaciones y Otros / Recoveries and Other 64,988,634 16,006,470
(-) Costos y gastos Totales / Total Costs and Expenses 1,739,457,753 590,052,273

Costos y Gastos Gestionables / Manageable Costs and Expenses 1,739,457,753 590,052,273

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) (233,022,062) (171,535,292)
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(48,471,763) (167,172,419)
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 12,327,132 6,338,187

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (603,671) 9,341,604
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes (269,770,364) (323,027,920)
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(201,111,636) (143,083,079)
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) (68,658,728) (179,944,841)
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
32,120,623 ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) (36,538,106) (147,824,218)
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 sep 2015/ 3T 2015/

Estado de resultados / Income Statement
1st Jan - 31 Sep 2015 3Q 2015

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 1,087,918,710 348,276,484
Ingresos de Operacin /Operating Income 1,038,936,546 334,515,565
Recuperaciones y Otros / Recoveries and Other 48,982,164 13,760,919
(-) Costos y gastos Totales / Total Costs and Expenses 1,149,405,480 417,459,416

Costos y Gastos Gestionables / Manageable Costs and Expenses 1,149,405,480 417,459,416

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) (61,486,770) (69,182,932)
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
118,700,656 117,384,283
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 5,988,944 2,864,286

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (9,945,275) (3,082,684)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 53,257,555 47,982,953
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(58,028,557) 4,627,608
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 111,286,112 43,355,345
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
- ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 111,286,112 43,355,345
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 Jun 2015/ 2T 2015 /

Estado de resultados / Income Statement
1st Jan - 31 Jun 2015 2Q 2015

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 739,642,226 375,230,895
Ingresos de Operacin /Operating Income 704,420,981 353,889,330
Recuperaciones y Otros / Recoveries and Other 35,221,245 21,341,565
(-) Costos y gastos Totales / Total Costs and Expenses 731,946,064 395,319,606

Costos y Gastos Gestionables / Manageable Costs and Expenses 731,946,064 395,319,606

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 7,696,162 (20,088,711)
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
1,316,373 189,974
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 3,124,658 1,608,954

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (6,862,591) (4,174,890)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 5,274,602 (22,464,673)
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(62,656,165) (42,068,210)
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 67,930,767 19,603,537
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
- ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 67,930,767 19,603,537
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1T 2015 /
Estado de resultados / Income Statement
1Q 2015

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 364,411,331
Ingresos de Operacin /Operating Income 350,531,651
Recuperaciones y Otros / Recoveries and Other 13,879,680
(-) Costos y gastos Totales / Total Costs and Expenses 336,626,458

Costos y Gastos Gestionables / Manageable Costs and Expenses 336,626,458

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 27,784,873

Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
1,126,399
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 1,515,704

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (2,687,701)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 27,739,275
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(20,587,955)
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 48,327,230
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
-
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 48,327,230
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 dic 2014/ 4T 2014/

Estado de resultados / Income Statement
1st Jan - 31 Dic 2014 4Q 2014

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 1,473,662,705 373,735,013
Ingresos de Operacin /Operating Income 1,430,633,888 386,526,994
Recuperaciones y Otros / Recoveries and Other 43,028,817 (12,791,981)
(-) Costos y gastos Totales / Total Costs and Expenses 1,425,550,847 343,009,192

Costos y Gastos Gestionables / Manageable Costs and Expenses 1,425,550,847 343,009,192

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 48,111,858 30,725,821
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(124,356,889) (122,086,142)
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 17,506,218 9,924,353

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (1,575,849) 2,512,038
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes (60,314,662) (78,923,930)
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(23,823,113) 93,321,167
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) (36,491,549) (172,245,097)
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
(1,265,890) ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) (37,757,438) (173,510,987)
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 sep 2014/ 3T 2014/

Estado de resultados / Income Statement
1st Jan - 31 Sep 2014 3Q 2014

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 1,099,927,692 384,390,034
Ingresos de Operacin /Operating Income 1,044,106,894 357,983,707
Recuperaciones y Otros / Recoveries and Other 55,820,798 26,406,327
(-) Costos y gastos Totales / Total Costs and Expenses 1,082,541,655 427,104,153

Costos y Gastos Gestionables / Manageable Costs and Expenses 1,082,541,655 427,104,153

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 17,386,037 (42,714,119)
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(2,270,747) 4,666,744
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 7,581,866 7,003,773

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (4,087,887) (2,920,903)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 18,609,269 (33,964,505)
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
(117,144,280) (125,535,595)
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 135,753,549 91,571,090
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
- ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 135,753,549 91,571,090
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1 ene - 31 Jun 2014/ 2T 2014 /

Estado de resultados / Income Statement
1st Jan - 31 Jun 2014 2Q 2014

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 715,537,658 357,352,493
Ingresos de Operacin /Operating Income 686,123,187 342,781,855
Recuperaciones y Otros / Recoveries and Other 29,414,471 14,570,638
(-) Costos y gastos Totales / Total Costs and Expenses 655,437,502 318,612,750

Costos y Gastos Gestionables / Manageable Costs and Expenses 655,437,502 318,612,750

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 60,100,156 38,739,743
Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(6,937,491) (4,223,891)
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 578,093 (3,633,078)

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (1,166,984) (248,532)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 52,573,774 30,634,242
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
8,391,315 4,153,262
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 44,182,459 26,480,980
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
- ###
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 44,182,459 26,480,980
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

1T 2014 /
Estado de resultados / Income Statement
1Q 2014

(Miles - Pesos / Thousand - Pesos )

Ingresos Recurrentes / Recurring Income 358,185,165
Ingresos de Operacin /Operating Income 343,341,332
Recuperaciones y Otros / Recoveries and Other 14,843,833
(-) Costos y gastos Totales / Total Costs and Expenses 336,824,752

Costos y Gastos Gestionables / Manageable Costs and Expenses 336,824,752

(=) Utilidad (Perdida) Recurrente / Recurring operating Income (Loos) 21,360,413

Resultado Financiero Neto: Ingreso (Gasto) / Net Financial Statement: Income
(2,713,600)
(expenses)
Diferencia en Cambio: Ingreso (Gasto) / Difference in Change: Income (Expenses) 4,211,171

Otros ingresos (gastos) procedentes de subsidiarias, entidades controladas de forma

conjunta y asociadas / Other income (expense) from subsidiaries, jointly controlled (918,452)
entities and associates

(=) Utilidad (Perdida) antes de impuestos / Income (Losse) Before Taxes 21,939,532
(-) Provisin Imp. CREE y Renta: (Ingreso) Gasto / CREE and Income Tax Provision:
4,238,053
(Income) expenses
(=) Utilidad (Perdida) del ejercicio / Fiscal Year Results: Income (Loss) 17,701,479
(+) Otro Resultado Integral (ORI)- Ingreso (Gasto) / Other Comprehensive Income
-
(Expenses)
(=) Utilidad (Prdida) Neta / Net income (Loos) 17,701,479
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Consolidados NIIF 2016, 2015, 2014 /

IFRS Consolidated Financials 2016, 2015, 2014

Flujos de efectivo procedentes de (utilizados en) actividades de operacin / Cash 1T 2016 / 1 ene - 31 dic 2015/ 4T 2015/ 1 ene - 31 sep 2015/ 3T 2015/ 1 ene - 31 jun 2015 / 2T 2015 / 1T 2015 / 1 ene - 31 dic 2014/
flows from (used in) operating activities 1Q 2016 1st Jan - 31 Dic 2015 4Q 2015 1st Jan - 31 Sep 2015 3Q 2015 1st Jan - 31st Jun 2015 2Q 2015 1Q 2015 1st Jan - 31 Dic 2014

(Miles - Pesos / Thousand - Pesos )

Ganancia (prdida) /Gain (loos) (59,907,883) (68,658,731) (179,944,843) 111,286,112 43,355,346 67,930,766 19,603,535 48,327,231 (36,491,549)

Ajustes para conciliar la ganancia (prdida) / Adjustments to reconcile net income (loss) - -

Ajustes por gasto por impuestos a las ganancias / Adjustments for income tax expense (278,092) 40,003,521 92,411,888 (52,408,367) (1,174,930) (51,233,437) (38,712,385) (12,521,052) 19,433,205
Ajustes por disminuciones (incrementos) en los inventarios / Adjustments for decreases
64,689 (5,588,350) (2,547,157) (3,041,193) 13,741,036 (16,782,229) 27,098,096 (43,880,325) (906,998)
(increases) in inventories

Ajustes por la disminucin (incremento) de cuentas por cobrar de origen comercial /

(42,978,221) (94,686,578) 171,394,637 (266,081,215) (354,813,111) 88,731,896 150,579,407 (61,847,511) (107,826,240)
Adjustments for decrease (increase) in accounts receivable from commercial sources

Ajustes por el incremento (disminucin) de cuentas por pagar de origen comercial / Ajustes
(147,823,924) 541,317,602 413,472,462 127,845,140 308,484,894 (180,639,754) (83,347,394) (97,292,360) 30,570,323
por el incremento (disminucin) de cuentas por pagar de origen comercial

Ajustes por gastos de depreciacin y amortizacin / Adjustments for Depreciation and

116,406,190 435,369,151 121,791,401 313,577,750 123,656,241 189,921,509 97,495,895 92,425,614 409,219,768
amortization expenses
Ajustes por provisiones / Adjustments for provisions 24,718,051 211,859,215 149,124,107 62,735,108 29,804,031 32,931,077 14,736,810 18,194,267 148,045,747

Otros ajustes por partidas distintas al efectivo / Other adjustments for different items to cash (6,893,202) (4,352,689) 61,525,050 (65,877,739) 3,570,162 (69,447,901) (27,692,849) (41,755,052) 213,746,715
Total ajustes para conciliar la ganancia (prdida)/ Total adjustments to reconcile net income
(56,784,509) 1,123,921,872 1,007,172,388 116,749,484 123,268,323 (6,518,839) 140,157,580 (146,676,419) 712,282,520
(loss)
Flujos de efectivo netos procedentes (utilizados en) operaciones / Net cash flows from (used in)
(116,692,392) 1,055,263,141 827,227,545 228,035,596 166,623,669 61,411,927 159,761,115 (98,349,188) 675,790,971
operations
Flujos de efectivo netos procedentes de (utilizados en) actividades de operacin / Net cash flows
(116,692,392) 1,055,263,141 827,227,545 228,035,596 166,623,669 61,411,927 159,761,115 (98,349,188) 675,790,971
from (used in) operating activities
Flujos de efectivo procedentes de (utilizados en) actividades de inversin / Cash flows from (used
- - -
in) investment activities
Flujos de efectivo procedentes de la prdida de control de subsidiarias u otros negocios / Cash flows
- 731 ### - - - ### - 3,074,667
from losing control of subsidiaries or other businesses

Flujos de efectivo utilizados para obtener el control de subsidiarias u otros negocios / Cash flows
(5,021,227) 258,777 21,106,389 (20,847,612) (3,064,262) (17,783,350) (16,890,777) (892,573) (11,597)
used to obtain control of subsidiaries or other businesses

Compras de propiedades, planta y equipo / Purchases of property, plant and equipment (85,575,359) 725,269,665 256,752,077 468,517,588 244,867,704 223,649,884 186,882,098 36,767,786 (525,104,200)

Importes procedentes de ventas de activos intangibles /Proceeds from sales of intangible assets - ### - - - - ### -

Compras de activos intangibles / Purchases of intangible assets (37,569,526) 132,147,643 50,366,370 81,781,273 37,705,708 44,075,565 26,562,154 17,513,411 (172,331,176)
Otras entradas (salidas) de efectivo / Other inflows (outflows) of cash (658,552) 1,150,157 (12,970,188) 14,120,345 213,813 13,906,532 9,747,953 4,158,579 (17,542,618)
Flujos de efectivo netos procedentes de (utilizados en) actividades de inversin / Net cash flows
(128,824,664) (858,825,511) (315,253,917) (543,571,594) (279,722,963) (263,848,631) (206,301,428) (57,547,203) (711,914,924)
from (used in) investment activities
Dividendos pagados / Dividends paid - ### 62,482,945 (62,482,945) 6,806,948 (69,289,893) (15,856,318) (53,433,575) -
Otras entradas (salidas) de efectivo / Other cash inflows (outflows) 6,699,210 (471,734,746) (472,606,565) 871,819 (73,381) 945,200 (128,528) 1,073,728 (62,139,906)
Flujos de efectivo netos procedentes de (utilizados en) actividades de financiacin / Net cash
6,699,210 (471,734,746) (410,123,620) (61,611,126) 6,733,567 (68,344,693) (15,984,846) (52,359,847) (62,139,906)
flows from (used in) financing activities
Incremento (disminucin) neto de efectivo y equivalentes al efectivo, antes del efecto de los
cambios en la tasa de cambio / Net increase (decrease) of cash and cash equivalents before exchange (238,817,846) (275,297,116) 101,850,008 (377,147,124) (106,365,727) (270,781,397) (62,525,159) (208,256,238) (98,263,859)
rate effects

Efectos de la variacin en la tasa de cambio sobre el efectivo y equivalentes al efectivo /

- ### - -
Effects of the variation on the exchange rate on cash and cash equivalents

Incremento (disminucin) neto de efectivo y equivalentes al efectivo / Net increase (decrease) in

(238,817,846) (275,297,116) 101,850,008 (377,147,124) (106,365,727) (270,781,397) (62,525,159) (208,256,238) (98,263,859)
cash and cash equivalents
Efectivo y equivalentes al efectivo al principio del periodo / Cash and cash equivalents at the
594,299,625 869,596,741 492,449,617 1,132,333,899 861,552,502 1,132,333,899 924,077,661 1,132,333,899 967,860,600
beginning of the period
Efectivo y equivalentes al efectivo al final del periodo / Cash and cash equivalents at the end of the
355,481,779 594,299,625 ### 755,186,775 755,186,775 861,552,502 ### 924,077,661 869,596,741
period