ISA 2017 Profits Jump 44.5% Year-on-Year
Medellin-based multinational electric power transmission giant ISA announced February 26 that full-year 2017 net profits rose 44.5% year-on-year, to COP$1.1 trillion (US$386 million), largely thanks to improved financial results in its Brazilian electric-power operations.
Earnings before interest, taxes, depreciation and amortization (EBITDA) hit COP$4.4 trillion (US$1.5 billion) for full-year 2017, while gross revenues rose to COP$6.9 trillion (US$2.4 billion), according to the company.
In Colombia, operating revenues dipped by 0.9% year-on-year, to US$570 million, while Brazil operating revenues jumped 75.6% year-on-year, to US$753 million.
Revenues in Peru fell 26% year-on-year, to US$473 million, while revenues in Chile slipped 6.9%, to US$399 million.
ISA not only builds and operates power transmission lines in Colombia, but also has highway concessions, telecom lines and network management systems in neighboring countries.
In fourth-quarter (4Q) 2017, ISA profits benefitted from the entry into operation of power transmission lines in Peru, the expansion of a substation and connecting power lines in Chile, and upgrades in Brazilian transmission systems.
As for over-all 4Q 2017 results, profits rose 57% year-on-year, to COP$269 billion (US$94 million), mainly because of reduced costs in Colombia, according to the company
However, operating revenues corporate-wide dipped 7.6% year-on-year in 4Q 2017, mainly because of a dip in construction revenues in Peru and Chile.
Brazil accounted for 30.5% of operating revenues in 4Q 2017, followed by Colombia (25.8%), Perú (22%) and Chile (19%), according to the company.
The company’s data-management systems division saw income rise in 2017 in part thanks to new control systems installed for Medellin’s “Metro” public-transit system, ISA added.
As for capital investments in 4Q 2017, ISA invested COP$1 trillion (US$350 million), including COP$799 billion (US$280 million) for Colombian power substations in Ituango and Caracoli, and new transmission lines between Chinú-Montería-Urabá and Cerromatoso-Chinú-Copey, the company said.