Interconexión Eléctrica (ISA) Q1 2026 earnings summary

Executive summary

• Solid operational performance in Q1 2026, with new projects commissioned and awarded, driving additional revenues and advancing long-term growth initiatives.

• Investments rose 10% year-over-year to COP 1.5 trillion, mainly in energy transmission (93% of total capex).

• Key milestones included energizing major projects in Brazil and Colombia, and winning new concessions in Chile and Brazil.

• Financial results were impacted by challenging macroeconomic conditions, including exchange rates and inflation.

• Leadership transition: Olga Patricia Castaño Díaz appointed Interim CEO.

Financial highlights

• EBITDA for Q1 2026 reached COP 2,437 billion, up 9% year-over-year, while another report notes EBITDA at COP 2.22 trillion, down 9% year-over-year; EBITDA margin at 58%.

• Net profit for Q1 2026 increased by 19% in one report, but another notes a decline of 20% to COP 558 billion; net margin at 14%.

• Operating revenues: COP 3.86 trillion, down 4% year-over-year.

• Dividend for 2026 set at COP 1,090, a 38% increase, with a yield of 4.4%.

• Debt indicators remain within investment grade range, with Gross Debt/EBITDA at 3.6x and FFO/Net Debt at 19.1%.

Outlook and guidance

• Projected investments of USD 8 billion planned between 2026 and 2030, with a total plan of COP 29.7 trillion.

• Continued focus on executing the investment plan, with 23 energy transmission projects and 3 road concessions under construction.

• New growth opportunities identified in Brazil and Colombia, including 46 grid expansions and urgent renewable integration projects.

• Ongoing optimization of the portfolio, with strategic acquisitions and divestitures to focus on large-scale, stable assets.

• Ongoing focus on optimizing financing conditions and cash flow.