Celsia reports Q2 revenue growth: what it means for Celsia stock

Published on 10/21/2026 at 04:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA reached COP 442.2 billion in the second quarter. For Celsia stock, this means a 40 percent margin target and COP 1 trillion of deleveraging.

Earnings pressure meets deleveraging

Celsia's second-quarter revenue rose 2.7 percent on October 12, 2026.
Adjusted second-quarter EBITDA reached COP 442.2 billion at a 32.7 percent margin.
Quartr lists November 11, 2026, for Celsia's third-quarter earnings report.

Celsia, COT60PA00038, Illustration mit AI erstellt.

Celsia (ISIN COT60PA00038) reported second-quarter revenue of COP 1.351 trillion, up 2.7 percent from a year earlier, while EBITDA fell 13.6 percent to COP 382.1 billion. The figures were published in the Q2 2026 summary dated October 12, 2026, by Quartr.

The result sets up a sharper investor question: can Celsia convert its efficiency program into higher margins while reducing debt? Management's stated targets include a 40 percent EBITDA margin and COP 1 trillion of additional deleveraging over the next 12 to 24 months, according to Quartr.

What changed in the second quarter?

Underlying profitability was stronger than the reported EBITDA line. Excluding extraordinary transformation and simplification expenses, second-quarter EBITDA reached COP 442.2 billion, equal to a 32.7 percent margin. That comparison matters because administrative expenses increased 36.2 percent to COP 128.0 billion during the period, reflecting transformation-related personnel costs, advisory work and delisting communications.

For the first half of 2026, revenue declined 5.2 percent to COP 2.622 trillion, while EBITDA fell 17.3 percent to COP 756.2 billion and net income dropped 35.9 percent to COP 140.9 billion. Adjusted first-half EBITDA was COP 816.3 billion, with a 31.1 percent margin, according to Quartr.

What comes next for Celsia?

The next dated milestone is Celsia's third-quarter earnings report, listed for November 11, 2026, by Quartr. The company is also advancing a 300 MWp solar capacity addition and a simplification program expected to deliver COP 100 billion in structural savings once stabilized.

Debt remains a measurable counterweight to the margin plan. Consolidated gross debt stood at COP 5.15 trillion at June 2026, while net debt was COP 4.854 trillion and net debt to EBITDA was 3.22 times, according to Quartr. TradingView identifies the issuer as Celsia SA ESP, ticker CELSIA, on the Colombia Securities Exchange.

Execution is the central test

Celsia's current story is less about revenue growth alone than about the gap between reported and adjusted profitability. The 2028 margin objective gives investors a concrete benchmark, while the COP 1 trillion deleveraging target sets a second test for cash generation and capital discipline.