EnergizarC
EnergizarC: Optimization, Growth, and Share Price Recovery
EnergizarC is a comprehensive strategy launched in 2025, structured around five core initiatives. Its objective is to strengthen Celsia’s financial position, optimize operations, and enable the market to accurately assess the company’s value highlighting the significant opportunity for the share price to close the gap relative to its fundamental value.
In 2025, the Total Shareholder Return (TSR) was 40% (capital appreciation + dividends).
Fundamental Value presented at Investor Day (October 1, 2025): COP 9,140 per share.
Since the launch of the share buyback program in December 2023, trading volume has increased 2.4x and the price has grown by more than 95%.
Play this video to discover the five initiatives in just 2 minutes
EnergizarC 2026: A Renewed Strategy to Close Gaps, Optimize Margins, and Scale Investments
Goal: To continue closing the gap between the market price and fundamental value. We aim to increase Celsia’s market visibility to attract new investors, thereby driving liquidity and beginning the path toward meeting the criteria for inclusion in additional stock indices.
At the 2026 General Shareholders’ Meeting, we will propose extending the share buyback (repurchase) program for an additional year, which currently has a remaining balance of approximately COP 134 billion.
This program has proven to be a vital support for daily liquidity through the transactional mechanism and provides the flexibility to execute purchase flow windows when required via the independent mechanism. Additionally, we will launch a Market Maker program to complement the support of daily traded volumes and assist in reducing bid-ask spreads.
Through these actions, we will continue to highlight our strategy and financial results to ensure the market correctly dimensions Celsia’s value.
Goal: Deleveraging to achieve greater financial flexibility, accompanied by a rigorous effort to find cost and expense efficiencies to maintain a trajectory of margin growth.
We are taking proactive steps to reduce consolidated net debt to levels below COP 3.8 trillion, supported by financial management actions currently in execution. Furthermore, we aim to expand the spread between ROIC and WACC to over 118 bps (basis points) within the Energy Services business.
Goal: We remain committed to our 2030 target of achieving a 38% EBITDA margin in the Energy Services business. The key driver will be the execution of savings identified through our ReimaginarC initiative.
In 2025, we completed the task of redesigning processes and identified savings initiatives totaling COP 174 billion. In 2026, the focus shifts to executing these savings to ensure they are reflected structurally in our margins. Additionally, we will conduct a comprehensive CapEx evaluation within Energy Services to prioritize investments with a faster rate of return that drive EBITDA margin growth.
Goal: To scale the Asset Management business by maturing our pipeline, strengthening relationships with strategic partners, and evaluating new investment opportunities aligned with our three pillars: Non-conventional renewable generation and storage, energy security, and transmission for the transition.
We will accelerate the securing of new capital commitments to ensure the deployment of our current development pipeline, aiming to increase Assets Under Management (AUM) by more than USD 500 million in 2026.
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