CELSIA (CELSIA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 2.7% YoY to COP 1.351tn, while EBITDA fell 13.6% to COP 382.1bn and net income fell 26.1% to COP 82.5bn.

• Priorities include cash generation, simplification, shareholder returns, a 40% EBITDA margin and COP 1tn of further deleveraging over 12–24 months.

Financial highlights

• Q2 gross profit fell 6.7% to COP 395.1bn; cost of sales rose 7.1% to COP 956.1bn.

• Q2 administrative expenses increased 36.2% to COP 128.0bn, reflecting transformation-related personnel costs, advisory work and delisting communications.

• Q2 net income attributable to parent owners was COP 43.7bn, down 33.4%; net financial expense fell 8.1% to COP 142.9bn.

• H1 revenue declined 5.2% to COP 2.622tn; EBITDA fell 17.3% to COP 756.2bn and net income fell 35.9% to COP 140.9bn.

• Excluding extraordinary transformation and simplification expenses, Q2 EBITDA was COP 442.2bn with a 32.7% margin; H1 adjusted EBITDA was COP 816.3bn with a 31.1% margin.

Outlook and guidance

• Targets for the next 12–24 months include a 40% EBITDA margin and COP 1tn of additional leverage reduction, accelerated under ACE.

• ReimaginarC, operational excellence and commercial efficiency support the 2028 margin target; simplification is expected to deliver COP 100bn in structural savings once stabilized.

• An additional 300 MWp of C2 Energía solar capacity is projected to begin construction soon; solar, batteries, T&D expansion and investment vehicles remain priorities subject to asset profitability reviews.