ISA 3Q 2025 Net Profit Drops 21% Year-on-Year

Medellin-based international electric power transmission operator, highways concessionaire and telecom operator ISA announced November 4 that its third quarter (3Q) 2025 net profit fell 21% year-on-year, to COP$700 billion (US$182.5 million), from COP$891 billion (US$232 million) in 3Q 2024.

Revenues for 3Q 2025 dipped 5% year-on-year, to COP$4.16 trillion (US$1.08 billion), from COP$4.4 trillion (US$4.14 billion) in 3Q 2024, while earnings before interest, taxes, depreciation and amortization (EBITDA) declined 18% year-on-year, to COP$2.49 trillion (US$649 million), according to the company.

As for nine-months 2025, revenues so far are nearly identical to first-nine-months 2024, at COP$11.5 trillion (US$2.99 billion), while cumulative EBITDA has fallen 13% year-on-year, to COP$6.6 trillion (US$1.7 billion) and net profit has declined 17% year-on-year, to COP$1.8 trillion (US$468 million), according to the company.

On the negative side of the ledger, “ISA, Intercolombia, and Transelca recognized a COP$70 billion [US$18 million] portfolio [loss] provision for Air-e [the bankrupt Colombian Atlantic coast electric-power utility] in 3Q 2025, for a total of COP$233 billion [US$60.7 million] accumulated [loss] as of September 2025,” according to the company.

“Excluding extraordinary and non-recurring events of 2025 concerning the updated payment method applied to the financial component of the Basic Network of the Existing System (RBSE) and the portfolio provision for Air-e, as well as events of 2024 concerning the periodic tariff review (RTP) in Brazil and the adjusted provision for major maintenance in Peru, the company’s operating performance was solid in the quarter,” according to ISA.

“That is mainly due to the entry-into-operation of projects that generate new revenue, the positive effect of contractual escalators, and higher construction profit.”

So far during nine-months 2025, ISA reports accumulated investments of COP$4.4 trillion (US$1.14 billion), up 38% year-on-year.

“For the next five years, the company has projected investments of COP$31.1 trillion [US$8.1 billion], adding approximately 5,153 kilometers of power transmission lines and 296 kilometers of roads,” according to the company.

During 2025, ISA has put into operation the 500,000-volt, 270-kilometers-long “Cuestecitas-Copey-Fundación” transmission project in northern Colombia’s La Guajira region, “which will allow that region’s wind- and solar-energy to be transported to major consumption centers,” according to the company.

“Additionally, two solar farm connections have entered into operation in Colombia, providing reliability and capacity to the supply of energy generated in the Colombian Caribbean.”

Elsewhere in Colombia’s Atlantic coastal regions, “we connected the Guayepo III Solar Farm to the Sabanalarga Substation, with an installed capacity of 200 MWac [alternating-current megawatts] that will generate enough energy to supply nearly 766,000 people [while] in Valledupar, we connected three solar farms that will add clean, renewable energy.

Also in Colombia, “ISA and Transelca were awarded two expansions to increase the reliability and availability of the transmission grid, with an estimated investment of US$45 million,” according to the company.

“Transelca was selected as the vehicle to develop ISA’s new Energy Solutions business in Colombia. With this new venture, ISA and its companies will enter the energy solutions market with solar farms for large consumers, strengthening energy storage,” the company added.

Meanwhile, in Brazil, ISA reported “22 [power] grid reinforcements, upgrades, and connection projects entered into commercial operation, with an investment of BRL 556 million (~COP$406 billion/US$105 million),” according to the company.

Colombia this year has accounted for 15% of ISA’s total investments, “with physical progress in the construction10 of six projects awarded by [power regulator] UPME, five connection projects currently being developed by Intercolombia, and 16 projects to renew and expand ISA’s installed energy transmission capacity,” according to the company.

“Brazil accounted for 71% of ISA’s investments, executing five projects tendered and awarded by ANEEL in previous periods, and making progress on 192 reinforcements, improvements, and renovations to the ISA Energía Brasil transmission grid.

“Chile accounted for 9% of investments executed: In the Energy Transmission business unit, progress was made on the construction of four grid expansion and renovation projects, and two tendered projects. 

“In the Roads business unit, the Orbital Sur Santiago [Chile] project and complementary works in operating concessions continue.

“Peru accounted for 4% of ISA’s investments, making progress on seven tendered transmission line construction projects and network expansions,” the company added.