Interconexión Eléctrica (ISA) Q2 2026 earnings summary

Executive summary

• Strong performance in H1 2026, with growth across energy transmission, roads, and telecommunications, aligned with the 2040 strategy and regional expansion.

• Investment commitments for 2026–2030 total COP 28.1 trillion, with 85% for energy transmission, 12% for roads, and 3% for telecommunications, supporting growth in Brazil, Colombia, Chile, Peru, and Panama.

• 35 projects underway: 32 in energy transmission and 3 in roads, adding 4,500 km of circuits and 296 km of roads; new contracts and project awards in Chile, Brazil, and Colombia, with early commissioning and major upgrades.

• Recognized for sustainability, ranking in the top 10% of utilities globally in the Dow Jones Index, with strong ESG initiatives and inclusion in Best-in-Class Index.

• Secured USD 2.5 billion in project awards and closed strategic transactions, reinforcing regional leadership.

Financial highlights

• EBITDA for H1 2026 was COP 4.9 trillion, a 20% increase year-over-year; Q2 EBITDA was COP 2.7 trillion, up 62% from Q2 2025.

• Net income for H1 2026 was COP 1.3 trillion, up 9% year-over-year; Q2 net income was COP 695 billion, up 53% year-over-year.

• Investments in Q2 2026 reached COP 1.7 trillion, up 23% year-over-year.

• Issued sustainable bonds (COP 2.4 trillion), debentures (COP 676 billion), and preferred shares (COP 752 billion) to support growth.

• Dividend payments in May 2026, with yields of 4.4%.

Outlook and guidance

• 2040 strategy remains unchanged, with COP 6.7–7.2 trillion allocated to new energy businesses and a focus on regional expansion and infrastructure upgrades.

• Energy solutions CapEx allocation deferred to future years due to current focus on transmission opportunities.

• Expectation of increased investment and EBITDA contribution from Colombia, driven by new grid projects and regulatory support.

• Road segment margins expected to remain stable, supported by tariff indexation and new construction projects.

• Ongoing expansion in energy transmission, roads, and telecom, with significant projects under construction.