Q2 2024 Interconnection Electric SA ESP Earnings Call Transcript
Key Points
- Interconexion Electrica SA ESP (IESFY) reported a net income of COP708 billion for Q2 2024, marking a 2% increase compared to the previous year.
- The company has 39 projects under construction, expected to add approximately COP1.8 trillion to annual revenue.
- IESFY achieved a return on average equity of 14% by the end of June 2024.
- The company secured third place in sustainability rankings by ALAS20, recognizing its social and environmental impact.
- IESFY's EBITDA for Q2 2024 was COP2.2 trillion, a 7% increase from the same period last year, driven by new projects and reinforcements in Brazil.
- The strengthening of the Colombian peso against the dollar and other currencies has negatively impacted financial results when consolidated to Colombian pesos.
- The accrued EBITDA decreased by 12% when considering the exchange effect.
- Debt levels increased by 6% to COP33 trillion, partly due to currency devaluation and financing of the investment plan.
- The company's debt over EBITDA ratio rose to 3.7 times, up from 3.4 times last year, indicating increased leverage.
- The financial results were affected by the devaluation of the Colombian peso against the Chilean peso, impacting returns on financial assets.
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Good morning. I'm Mateo Ochoa and I'm part of the investment relations team at ISA. I want to thank everybody for being with us for this conference and which will show the results for the second quarter of ISA and its companies.
(Event Instructions) Today we have with us Gabriel Melguizo, he is the Interim CEO of ISA; Jaime Falquez, VP of Corporate Finance; Patricia Castaño, Corporate Strategy VP; and Sebastian Castaneda, Growth and Business Development VP.
We'll begin with relevant facts for the second quarter, as explained by Gabriel Melguizo and then Jaime Falquez will informed about the financial results. Finally, Gabriel will provide some closing messages, and we'll move on to the Q&A. Let's move on to the next slide, and Gabriel will take the floor.
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Thank you so much, Mateo. First of all, good morning, everybody. It's my pleasure to
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