Colombia
News

Internexa reaches breakeven after 3yrs

Bnamericas Published: Saturday, March 20, 2004
Colombian carrier-of-carriers Internexa reached breakeven in 2003, three years after starting operations, with a net profit of 9.03bn pesos (US$3.38mn), the company said in a statement. The company posted an operating profit of 11.8bn pesos, on total revenues of 55.8bn pesos, up 39% from 40.0bn pesos in 2002. Internexa said the telecoms sector as a whole in Colombia grew just 10% during 2003. Ebitda was 23.5bn pesos and the Ebitda margin versus total revenues was 42%. During 2003, Internexa, a unit of Colombian power transmission company ISA, was awarded a license to offer international long distance calls to complement its operations in Ecuador. The company invested 8.53bn pesos, up from 6.64bn pesos in 2002, primarily to expand infrastructure. By the end of the year, the company had 3,716km of fiber optic line installed, covering 33 cities. Internexa also participated in the new 150km fiber link to the Atlantic coast built in conjunction with other operators. For 2004, the company plans to invest 12.8bn pesos, including expansion of the fiber ring between Bogotá, Medellín and Cali. The company is aiming for 50% revenue growth to 80bn pesos, and is betting on its Dataway international service to Ecuador and Miami, in the United States, to account for 4% of revenues by year-end. Part of this year's revenues will come from the start-up of commercial services on a US$50mn, 2,000km fiber link along the northern coast on May 1. Internexa runs the project, with the backing of ETB and Orbitel, which saw the last link between Tolú and the capital of Antioquia department completed earlier this month at a cost of US$13mn. The ring now extends from Medellín to Bucaramanga, Cúcuta, Cartagena, Barranquilla and Tolú, and back to Medellín. The northern coast of Colombia has a population of some 13 million people and is also the location for the landing points of the Maya, Arcos and Pan American international submarine cables.

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