- ISA ended the quarter with very good results: EBITDA amounted to COP 2,0 trillion, EBITDA margin reached 71,0% and ROE was 11,1%.
- By 2022, the company is studying investment opportunities for more than USD 8 billion.
- During the period, important advances were made in social and environmental fields.
The results of ISA and its companies reflected an efficient management that once again achieved upward operating results, tracing a solid growth path for the business, ensuring its validity, and demonstrating active management of share performance.
In this quarter, the financial results showed positive dynamics. The operational strength of ISA and its companies continued, which is demonstrated by an EBITDA of COP 2 trillion, 16,7% higher than the first quarter of 2021 and 20,7% above budget. Net income closed at COP 431 billion, 16,8% higher than expected for the period.
During the first quarter of this year, investments of COP 789 billion were made. Most of them were concentrated in Brazil, where the construction of electric power transmission projects awarded to ISA CTEEP in past tenders and in reinforcements and improvements to its network. Other investments were focused on advancing projects in Peru, including the Coya and Yana projects; in Colombia, the execution of several UPMES; and in Chile, the construction of Rutas del Loa, among others.
“A very positive news in the energy business was the capital contribution to Interconexión Eléctrica Panamá made by ISA for USD 1,2 million, destined to environmental and social impact studies, field design and marine inspection, for the installation of submarine cable. This contribution confirms our interest in advancing in this project that will lead to the integration of the Andean market with the Central American market, ensuring a greater insertion of renewable sources and guaranteeing the region’s energy security,” stated César Ramírez Rojas, ISA’s Interim CEO.
Future Opportunities
For the remainder of 2022, ISA’s portfolio includes investments of more than USD 8 billion. 55% are concentrated in the electric power transmission business, where several UPMES in Colombia and the ANNEL auctions in Brazil in the middle and at the end of this year stand out. In Chile, several electric power transmission calls are expected from the National Electric Coordinator for the construction of new transmission lines and substations; and in Peru, the Peru-Ecuador interconnection, and some sub-transmission projects.
In road concessions, where the remaining 45% of the pipeline is concentrated, ISA is studying its participation in 5G bids in Colombia, some of which are in pre-tender specifications and others are already in the bidding process, while in Chile it expects to participate in bids for new concessions, improvements to existing routes and in several rebiddings, including Ruta del Bosque, a process that is expected to be completed in June.
Environmental, social and governance
This was a period of important recognitions that demonstrate ISA’s sustainable value: for the 5th year, ISA was recognized among the companies of the S&P Global Sustainability Yearbook, a measurement that values the contribution and progress in Environmental, Social and Governance issues of companies worldwide. Similarly, Sustainalytics ranked ISA as one of the TOP 50 companies in ESG issues among a list of more than 14.000 companies in 42 industries.
During the quarter, within the framework of the “Deals of the Year 2021” awards of Proximo, a publication specialized in energy, infrastructure and projects, ISA INTERCHILE’s green bond was recognized as the best financial operation of the year in the region, and as the most relevant energy agreement in Latin America. In this way, it becomes the only winning financial operation in the history of these awards. At the end of last year, this operation received the ESG Deal of the Year award for best sustainable financial operation from the prestigious international publication LatinFinance.
