ISA 2Q 2025 Net Income Drops 36% Year-on-Year
Medellin-based international electric-power transmitter, highways concessionaire and telecom-internet operator Grupo ISA announced August 5 that its second quarter (2Q) net income fell 36% year-on-year, to COP$455 billion (US$112 million).
Operating revenues in 2Q 2025 dipped 3% year-on-year, to COP$3.3 trillion (US$815 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) fell 26% year-on-year, at COP$$1.6 trillion (US$395 million).
The drop in EBITDA is explained by “adjustment in the formula for updating the financial component of the assets of the Existing Basic System Network (RBSE) in Brazil and by the provision for [Colombia’s money-losing Atlantic Coast electric utility] Air-e’s outstanding [loss] portfolio,” according to ISA.
As for first half (1H) 2025 results, ISA’s net income totaled COP$1.2 trillion (US$296 million), down 14% year-on-year, with a net margin of 16%, according to ISA.
“Excluding extraordinary events, net income would have reached COP$1.4 trillion [US$346 million], up 4% year-on-year, mainly due to [adjusted] EBITDA, while net margin would have been 18%,” according to ISA.
Operating income for 1H 2025 rose 3% year-on-year, to COP$7.35 trillion (US$1.8 billion), according to the company.
“For 1H 2025, ISA and its companies’ EBITDA reached COP$4.1trillion [US$1.01 billion], 9% less than in the first half of 2024, with an EBITDA margin of 55%, mainly due to the impact of extraordinary events related to the update of the RBSE’s financial component payment methodology and the Air-e [loss] portfolio provision,” the company added.
For all of 1H 2025, ISA capital investments rose 29% year-on-year, to COP$2.7 trillion (US$667 million), including “construction of 37 projects, of which 35 are in the power transmission business and two in the road concessions business. These projects, with projected investments of COP$28.4 trillion [US$7.02 billion] through 2030, will add approximately 5,432 kilometers of power transmisión lines and 296 kilometers of roads,” according to the company.
