CELSIA (CELSIA) Q2 2025 earnings summary

Executive summary

• Climate normalization after the 2024 El Niño reduced Q2 revenue, while lower generation costs lifted the consolidated EBITDA margin to 33.6% from 24.1%.

• H1 EBITDA and net income grew despite lower revenue; priorities included cost efficiency, debt reduction, capital attraction and shareholder returns.

Financial highlights

• Q2 revenue was COP 1.316042 trillion, down 31.6% YoY; H1 revenue was COP 2.766578 trillion, down 16.2%.

• Q2 EBITDA was COP 442.437 billion, down 4.7%, with a 33.6% margin; H1 EBITDA rose 15.7% to COP 914.460 billion, with a 33.1% margin.

• Q2 net income was COP 111.705 billion, down 19.9%; H1 net income rose 30.0% to COP 219.769 billion.

• Q2 gross profit was COP 423.4 billion, down 9.4% YoY; H1 gross profit rose 13.0% to COP 886.6 billion.

• Controlling-interest net income was COP 65.658 billion in Q2, down 32.8%; H1 controlling-interest income was COP 123.615 billion, up 3.7%.

Outlook and guidance

• Target consolidated net debt below COP 4 trillion and annual financial-expense savings above COP 100 billion; initiatives are expected to reduce consolidated debt by COP 1.18 billion in H2 2025.

• Opex projects target COP 165 billion of savings by 2026; identified projects could deliver up to COP 174 billion, while Q2 Opex fell 10% YoY.

• Peru investment vehicle planned at US$300 million, with a 20% equity contribution; energy-efficiency project bank potential is up to US$500 million.