Celsia 3Q 2025 Net Profit Falls 27% Year-on-Year
Medellin-based multinational electric power giant Celsia—a división of Grupo Argos — announced November 9 that its third quarter (3Q) 2025 net income fell 27% year-on-year, to COP$80 billion (US$21 million), from COP$110 billion (US$29 million) in 3Q 2024.
Revenues dipped 7.8% year-on-year, to COP$1.29 trillion (US$342 million), from US$1.4 trillion (US$371 million) in 3Q 2024.
However, earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10.4% year-on-year, to COP$381 billion (US$101 million), according to the company.
“The decrease in consolidated revenue due to lower stock market sales at a price lower than the previous year during the El Niño drought was offset by operational efficiencies that allowed the company to reduce costs and expenses, resulting in an increase in EBITDA and EBITDA margin,” according to Celsia.
“Financial expenses, with a 6.4% increase, and taxes, which grew by COP$33.6 billion [US$8.9 million], explain the net profit [decline],” the company added.
Despite the profits dip, the company cited “significant progress in its ‘EnergizarC’ strategic program, aimed at strengthening its financial position [and] optimizing operations.”
“Reduction in consolidated net debt brought debt to COP$5.19 trillion [US$1.37 billion], with a net debt/EBITDA ratio of 3.14 times,”
Meanwhile, “at the end of September, [incoming] cash totalled COP$720 billion [US$191 million], resulting from the payment of receivables from the sale of assets in Central America in 2023, distributions of investments in Peru, and the creation of Atera [a solar-power and energy-efficiency unit created in partnership with Brookfield].”
Atera already has a business portfolio of more than 500 clients and growth plans exceed US$500 million by 2030, according to Celsia.
The Atera deal with Brookfield “allowed for a reduction of COP$400 billion [US$106 million] in Celsia’s consolidated debt and will additionally allow for a decrease in operating and financial expenses,” according to the company.
On a related front, “cost and expense reduction initiatives via ‘ReimaginarC’ are 49% complete, with guaranteed savings of approximately COP$82 billion [US$21.7 million] by 2026. The goal is to reach COP$165 billion [US$43.8 million],” according to the company.
Meanwhile, Celsia’s latest investment plan in Peru “is progressing through our process of incorporating high-level institutional investors, including multilateral agencies and international asset managers.”
Assets under management (AUM) are now calculated at US$1.54 billion, “following the addition of Atera to this portfolio,” according to Celsia.
“Celsia’s ambition is to reach US$4.5 billion AUM by 2030 with all iour geographic expansion initiatives and the portfolio of projects under development,” the company added.
