Colombia’s state-controlled electricity grid operator Interconexion Electrica SA said its net profit last year was 343.9 billion pesos ($180 million), a 9.2% increase from the year before.
In a statement posted on the website of Colombia’s securities regulator, ISA said its consolidated operating income was COP3.514 trillion, a 6% rise from COP3.307 trillion in 2009.
Earnings before interest, taxes, depreciation and amortization, or Ebitda, an indicator of a company’s cash flow, rose 5% to COP2.526 trillion.
ISA is one of the largest electricity transmission grid operators in South America, with a network spanning at least 38,000 kilometers of lines. Its operations include grids in Ecuador, Peru, Brazil and Bolivia. It is also building a connection between the grids of Colombia and Panama.
Additionally, in September of last year ISA expanded its business model by entering Chile’s toll road business, buying a 60% state in road operator Cintra Chile SA.
ISA’s Chief Executive Luis Fernando Alarcon said in the earnings statement the change in results between last year and 2009 can be explained by ISA’s new road concession subsidiaries in Chile as well as “the effects of exchange rates and the recomposition of [the company’s] financial structure.”
(Dan Molinski / Dow Jones Newswires)
