ISA 3Q 2024 Net Income Soars 74% Year-on-Year
Medellin-based multinational electric-power transmission builder-operator, highways concessionaire and telecom-internet provider ISA announced October 31 that its third quarter (3Q) 2024 net income jumped 74% year-on-year, to COP$891 billion (US$202 million), from COP$512 billion (US$116 million) in 3Q 2023.
Revenues in 3Q 2024 also jumped 39% year-on-year, to COP$4.4 trillion (US$997 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 57% year-on-year, to COP$3.02 trillion (US$684 million), according to the company.
As for the first nine months (January through September) of 2024, “accumulated EBITDA was COP$7.5 trillion (US$1.7 billion), 7% higher than the same period of the previous year, and net income reached COP$2.2 trillion (US$498 million), an increase of 10%,” the company added.
“We highlight the positive impact generated by the Periodic Tariff Review (PTR) of the power transmission companies in Brazil, which contributed positively to our results. We have put new projects into operation, strengthening our presence and operational capacity in the region.
As for the relatively strong EBITDA results so far this year, “EBITDA margin was 69%, and 84% without construction. The variation is mainly due to the recognition of the PTR of the transmission companies in Brazil, the entry into operation of projects that generated new revenues, and the recovery of the provision for major maintenance in Peru,” according to ISA.
As for Colombia results, “ISA won the public tender of the Mining-Energy Planning Unit (UPME) for the construction and operation of the Pasacaballos substation (220 kV) and associated power lines in the department of Bolívar, with an estimated investment of US$20 million (~COP$83 billion),” the company noted.
“Additionally, ISA was awarded an extension to its transmission network in Colombia, with an estimated capex of US$7 million (~COP$29 billion).”
Also in Colombia, ISA started-up its “Smart Valves Nueva Barranquilla and Sabanalarga” project, which “facilitates the integration of non-conventional renewable energy sources into the system.”
As for its telecom business in Colombia, “the signing and closing of Specific Agreement 5 of Internet Boards (Internet service providers) was completed, which will significantly contribute to the reduction of the digital divide in the country.
“This agreement will allow the provision of Internet services nationwide, benefiting 56,000 families. With this new agreement, the total number of benefited households rises to approximately 262,000 in remote regions of the country,” ISA added.
As for Peru operations, “ISA REP was awarded the extension to the Nueva Virú {electric power] substation. This expansion seeks to increase the reliability of the service and has an estimated investment of US$40 million (~COP$167 billion).”
As for its Chile highways concessions business, ISA highlighted “start of operations of Ruta del Loa in Chile, the first greenfield project (built from scratch) awarded to ISA, with 111 kilometers of double lanes, including high technology [for traffic monitorin], which links the towns of Carmen Alto, Sierra Gorda and Calama in the north of the country, directly impacting 180,000 people,” the company added.
