ISA: Positive results due to higher revenues in energy business and a cost reduction in Brazil
August 5, 2014 (www.investorideas.com newswire) We consider 2Q14 financial results as positive. Revenues grew 1.8% YoY, mainly due to the energy businesses in Colombia, Peru and Brazil, which contributed with 68% of total revenues and a managing costs strategy in its subsidiaries in Brazil. The company is in the process of delivering the valuation studies from the existing assets due to the termination of the Concession 059 in CTEEP and expects the government to decide how to make the payment. Our Target Price is COP 9,900/share, consistent with a HOLD recommendation.
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