Interconexion Electrica S A : FINANCIAL RESULTS THIRD QUARTER 2017
November 02, 2017 at 12:06 pm EDT
Share
For the accumulated period ended September 2017, ISA's net income reached COP 1.168.917 million.
For the accumulated period ended September 2017, ISA's net income reached COP 1.168.917 million. Excluding the RBSE value impact at ISA CTEEP3 and the adherence to PERT, above mentioned, the accumulated net income was COP 834.749 million, a 31,9% increase that was equivalent to COP 202.025 million, compared with the same period of the previous year. This increase was explained by higher revenues in the Energy Transmission and Telecommunications business, the stable management of operating costs and expenses and lower financial expenses at the Chilean road concessions.
In third quarter of 2017, net income reached COP 565.857 million. Excluding these non-recurring effects, net income for 3Q17 reached COP 317.183 million, a 30,8% increase compared with the same period of the last year. This was mainly due to higher income in Energy Transmission in Brazil and Road Concessions in Chile.
Consideration
The third quarter of 2017 reflects the adoption of the benefits of PERT1 by ISA Capital do Brasil. This tax amnesty allowed the Company to cross fiscal losses from former periods (2006-2010) with the taxes associated with the liability2 reversal that was generated by the ISA CTEEP acquisition agreement, thereby generating higher income for COP 238.794 million. Similarly, ISA CTEEP also took advantage of PERT to optimize the payment of tax obligations, obtaining higher income for COP 27.545 million. As a result, ISA's Consolidated Financial Statements reflect higher income for COP 248.675 million.
Other important considerations for the quarter are related to the adjustment at ISA CTEEP and its companies' revenues, for the 2017/2018 tariff cycle and the collection of two RBSE installments in Brazil. In addition, this quarter's figures include the consolidation of 100% of the Compañía Interligação Elétrica Norte e Nordeste - IENNE. As a result of the aforementioned, during this quarter, ISA collected income for COP 73.349 million.
It is also important to consider that, in September 2016, ISA CTEEP adjusted the value of the RBSE to BRL 3.896 million (2012 figures), which implied COP 1,3 billion in profit for ISA. Likewise, in June 2017, this value was once again adjusted to BRL 4.094 million (2012 figures), of which ISA collects profits of COP 85.493 million.
Complete Report of Financial Results Third Quarter 2017
ISA - Interconnection Electric SA ESP published this content on 02 November 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 November 2017 16:05:04 UTC.
Original documenthttp://www.isa.co/_layouts/CopyUtil.aspx?Use=id&Action=dispform&ItemId=341&ListId=1a788cff-2d7f-4441-9f71-ddd51bebe8dd&WebId=9c1ea5ea-c39f-435a-a657-3d6cc947fb58&SiteId=9e35b541-5f91-4f43-b487-5ac300e012e8&Zone=0&Source=http:%2F%2Fwww.isa.co%2Fen%2Fpress%2FPages%2Fsala-de-prensa%2Frelease.aspx
Public permalinkhttp://www.publicnow.com/view/3C2DCD1A6C3EC02984ACAFC2143271278BDDC09E
Interconnection Electric SA ESP (ISA) is a Colombia-based company engaged in the transmission of electric power. The Companyâs business is structured into five divisions: Electric Energy Transport, operating a network of high-voltage transmission circuits in Colombia, Peru, Bolivia and Brazil; Smart Management of Real Time Systems, which manages the facilities of the National Interconnected System (SIN), Commercial Settlement System (SIC), Wholesale Energy Market (MEN) and International Electricity Transactions (TIE); Construction of Infrastructure Projects, which include the development of high-voltage and fiber-optic transmission networks; Telecommunications Transport, which is involved in the leasing of the Companyâs transmission networks to other operators, and Road Concessions, which focuses on the construction, management and exploitation of highways, toll roads and other related infrastructure. On September 30, 2013, the Company established a subsidiary, Intercolombia SA ESP.
INTERCONEXIÓN ELÉCTRICA S.A. E.S.P. 
