Interconexión Eléctrica (ISA) Q3 2024 earnings summary

Executive summary

• Net income for the first nine months of 2024 reached COP 2.2 trillion, up 10% year-over-year, with Q3 net income at COP 891 billion, a 74% increase year-over-year, driven by regulatory changes in Brazil and new project operations.

• EBITDA for 9M24 was COP 7.5 trillion, a 7% increase year-over-year, with Q3 EBITDA at COP 3 trillion, up 57% year-over-year.

• 36 projects are underway, mainly in energy transmission and roads, supporting sustainable value creation and expected to generate over COP 1.8 trillion in new annual revenues.

• Major social and environmental initiatives advanced, including renewable energy access, biodiversity conservation, and alliances at COP16.

• Moody’s and Fitch reaffirmed investment-grade ratings (Baa2/BBB, stable outlook), reflecting financial strength and geographic diversification.

Financial highlights

• Consolidated EBITDA for Q3 was COP 3 trillion, up 57% year-over-year, and net income for Q3 was COP 891 billion, up 74% year-over-year, both benefiting from Brazil's tariff revision and new operational projects.

• Accrued EBITDA for 9M24 reached COP 7.5 trillion, a 7% increase over the same period in 2023.

• Dividend payments totaled COP 1.6 trillion YTD, with COP 410 billion paid in Q3 2024.

• Investments for Q3 totaled COP 1.1 trillion, with Brazil, Colombia, Chile, and Peru as key regions.

• EBITDA margin for Q3 was 69% (84% excluding construction); net margin 20%.

Outlook and guidance

• Committed investments for the next six years stand at COP 28.5 trillion, with about COP 1 trillion planned for execution in the last quarter of the year.

• Two projects in Colombia and network reinforcements in Brazil are expected to enter operation next quarter.

• Strategic focus remains on energy transition, network expansion, and new business opportunities in distributed energy solutions.