- Of this investment amount, 27% was made in Colombia through nine projects that contribute to a just and human-centered transition.
- The company reported an outstanding financial performance: revenues and EBITDA from transmission and roads grew at rates of more than 30%.
- ISA disclosed its portfolio of investment opportunities amounting to USD 20 billion for the next twelve months.
ISA presented solid financial results in its quarterly report (1Q23), even in a context of economic slowdown, demonstrating the resilience of the business and a management focused on generating value for its shareholders and progress in the countries where it operates.
At the operational level, during the first quarter, investments of COP 1.4 trillion were made: 71% in the energy transmission business unit, 26% in roads and 3% in telecommunications. This figure is a concrete contribution to the energy transition since many of the projects included here will enable the entry of non-conventional renewable energies into the interconnected systems and will contribute to the strengthening of the transmission grid, improving its reliability and capacity. Likewise, investments in other businesses represent progress and opportunities for the country and the region.
Of this investment amount, 29% was made in Brazil, 27% in Colombia, 26% in Chile and 18% in Peru, corresponding to the progress of projects awarded to ISA in 2023 and previous years.
On the other hand, during the quarter, ISA was awarded eight connections and thirteen extensions of its power transmission systems, which together will add a CAPEX (investment) of USD 80 million (reference value) and will add 334 km of circuit to the grid.
“As a result of its mission to contribute to the development of the country, with clear social benefits and low environmental impact, and to advance with discipline in the execution of its 2030 strategy, ISA continues to strengthen its value as a solid, efficient and attractive asset for the national and international market, but also contributing in a transcendent way to the issues that mark the national and regional agenda, and that allow projecting a better future for Colombia and the countries where it has a presence”, said Juan Emilio Posada Echeverry, CEO of ISA.
On the financial level, ISA’s total revenues in 1Q23 reached COP 3.9 trillion, 41% higher than in 1Q22. EBITDA totaled COP 2.7 trillion, 38% higher than in 1Q22. These positive results are mainly due to a 35% growth in revenues from the energy transmission business, leveraged by contractual escalators and the entry into operation of projects.
Net income exceeded COP 828 billion, a growth of 92% compared to the same quarter of 2022; a net margin of 21% was achieved and profitability measured by net income for the last twelve months divided by average shareholders’ equity (ROAE) of 15%, which exceeds that recorded in 1Q22. The above means that ISA remains a profitable and sustainable investment.
Lastly, it should be noted that there was a decrease in the indebtedness indicator. “The gross debt to EBITDA ratio closed at 3.9 times, below the level of 4.2 recorded in December 2022. A healthy level of debt, such as the one ISA has today, coupled with a solid liquidity position, gives the company the ability to continue allocating capital to growth and distribution to our shareholders, while maintaining financial flexibility,” said Daniel Isaza, ISA’s Chief Financial Officer.
In the next 12 months, investment opportunities in tenders in the region will amount to USD 20 billion: 72% correspond to the energy transmission business unit and 28% to the roads business unit. Specifically in Colombia, the Mining-Energy Planning Unit (UPME) is expected to issue calls for tenders for more than USD 2 billion and road tenders for USD 1.0 billion, including a tender for the second phase of the 5G.
ROAE= net income 12 months / average equity 12 months