ISA 3Q 2018 Net Income Jumps 30% Year-on-Year
Medellin-based multinational electric power transmission and highway concessionaire ISA announced November 7 that its third quarter (3Q) 2018 net income rose 30.2% year-on-year, to COP$413 billion (US$131 million).
Gross revenues rose 8.3% year-on-year, to COP$1.9 trillion (US$605 million), with power transmission revenues showing the biggest yearly gain, by 16.7%, according to the company.
Earnings before interest, taxes, depreciation and amortization (EBITDA) hit COP$1.4 trillion (US$446 million), up 15% year-on-year, while EBITDA margin came-in at a hefty 71.7%, according to ISA.
The positive results don’t include any extra income from a one-time-only power-transmission tariff “regularization” program in Brazil last year, but do include power-tariff increases this year.
Revenues improved this year mainly thanks to recent entry-into-operation of power-transmission and highway-concession operations in Peru, power-transmission expansions in Colombia and Chile (since September 2017), and the incorporation of results from recently acquired Brazilian and Chilean power operations.
As for investments, ISA so far this year has invested COP$1.9 trillion (US$605 million) in infrastructure expansions and upgrades, according to the company.
Colombia revenues rose 8.4% year-on-year, to COP$447 billion (US$142 million), while Chile revenues rose 12.8%; Brazil revenues rose 12% and Peru operations declined 7.6%, according to the company.
Power transmision revenues in Colombia rose mainly because of a boost in national power tariffs, favorable COP/US dollar exchange rates, plus a new transformer connection, the company added.
