- As of September, the accumulated EBITDA amounted to COP 5,3 trillion, EBITDA margin reached 65,5% with a ROE of 12,5%.
- So far this year, investments in construction projects totaled COP 3,5 trillion.
- The period saw major milestones such as the placement in the international market of the largest structured green bond in the region (USD 1,2 trillion) by ISA Interchile and the start-up of important projects.
The results for the third quarter of 2021 reflect the strength and resilience of the business and a financial strategy based on the efficient management of Administration, Operation and Maintenance (AOM) expenses and the profitability of its operations.
Accumulated through September 2021, compared to the same period of the previous year, operating income totaled COP 8,1 trillion, representing an increase of 7,5%. EBITDA amounted to COP 5,3 trillion, growing 5,2%, with an EBITDA margin of 65,5%.
Assets totaled COP 62,6 trillion, representing an increase of 15,5% with respect to the closing of the previous year. Investments in the accumulated amount for the year reached COP 3,5 trillion, mainly in the construction of 25 energy transmission projects, eight in road concessions and 257 reinforcements in Brazil, which, once in operation, will contribute total annual revenues of USD 382 million.
In operational matters, another major milestone occurred in the energy transmission business with the entry into operation of three projects: the Nueva Pan de Azúcar – Polpaico Reactive Compensation (Chile), the Triple A Connection in Transelca (Colombia), IE ITAIPURA in ISA CTEEP (Brazil), and 72 reinforcements to the existing network in the latter affiliate, which together contribute a total of USD 30 million in revenues per year.
Similarly, in the Roads Concessions business unit, progress was made in the construction of eight projects that in some cases will add to and in others will improve the road network in Chile and Colombia.
ISA’s net income was COP 1,2 trillion; 22,1% less than in 2020 with a net margin of 15%. This is explained by two non-recurring events that occurred in the third quarter of 2021, which were recorded in the month of September:
1) Reprofiling of ISA Interchile’s debt: the Company recognized the costs associated with the successful placement in the international market of the largest Structured Green Bond in the region (USD 1,2 trillion), which sought to refinance the existing debt to optimize the financial cost. This operation had an impact on ISA’s income of COP 273 billion. The most relevant value was the reversal of the interest rate swap of the previous debt.
2) Modification of the income tax rate in Colombia: as a result of the tax reform, ISA’s Colombian companies recognized the change in the income tax rate from 30% to 35% in the calculation of deferred tax, with a negative effect on results of COP 146 billion.
“We continue to strengthen our value as a solid and efficient asset that is not only aimed at earning profitability. ISA is a company that generates progress, development, change in the territories and contributes in a progressive and transcendent way to the great matters of humanity. Now, together with Ecopetrol, both companies are joining forces to move forward on a path that opens up new opportunities for growth and leadership in the continent and will contribute to the economic and social reactivation of a region with great potential,” said Bernardo Vargas Gibsone, ISA’s CEO.
