- Net income for the period was COP 708 billion, an increase of 2% compared to the same quarter of the previous year.
- During the quarter, COP 1.1 trillion was invested in projects, mainly in energy and roads, which will further consolidate ISA’s leadership in the region and will represent important revenues once they are in operation.
- Among the milestones of the second quarter were the successful issuance of bonds in the local market and ALAS20 recognition of ISA as one of the three most sustainable companies in the region.
At the end of the second quarter of 2024, ISA reported significant progress in the three pillars of its ISA2030 Strategy (corporate validity, generation of shareholder value, creation of positive social and environmental impact), demonstrating discipline and consistency in the fulfillment of its objectives for the generation of sustainable value.
Net income for the second quarter of 2024 was COP 708 billion, 2% higher than in 2Q23. Excluding the exchange rate effect of the companies’ financial statements into Colombian pesos -in accordance with current accounting standards- net income grew by 19%. The EBITDA margin was 65% and the net margin increased from 20% in 2Q23 to 21% in this quarter.
Second quarter EBITDA was COP 2.2 trillion, 7% higher than the figure reported in the same period of 2023, excluding the exchange rate effect (including this effect, the figure decreased by 7%). This was mainly due to the entry into operation of three projects and 13 reinforcements, as well as the effect of revenue adjustment indexes.
The results show significant progress in the investments made: in the quarter, investments in growth and operation of the businesses were made for COP 1.1 trillion, reaching a cumulative total of COP 2.1 trillion as of June 2024. As a result, committed investments to 2030 reach COP 28 trillion.
“A very important message to the market is that the results are positive; we have been exceeding the goals set out in the 2030 strategy in each business and geography. Our revenues continue to grow in the currencies in which our assets are remunerated in each country, thanks to the entry into operation of new projects, among other factors. However, the conversion of the financial statements of our affiliates into Colombian pesos reduces some of the consolidated figures,” explained ISA’s Interim Chief Corporate Finance Officer, Jaime Falquez Ortiga.
In terms of debt, in the second quarter we issued COP 400 billion of bonds in the local market, with an oversubscription of 3.3 times. This transaction, which had an AAA credit rating with a stable outlook, demonstrated the market’s confidence in ISA’s business development.
Another of the major milestones of the quarter was the recognition by ALAS20 of the company as one of the three Sustainability Leaders for excellence in public disclosure of information on sustainability and its environmental, social, and economic practices.
