The following is a summary of the Engie Brasil Energia S.A. (EGIEY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Engie Brasil reported a high mean energy price maintenance, with improved financial balance of the Jirau project.

• Leverage increased to 2.1 times and there was growth of 4.7% from 2022 to 2023.

• Net profit was reported to increase almost 24% facilitated by low inflation.

• The company completed their energy transition, becoming the largest 100% renewable electricity generator.

• Engie Brasil saw significant investments, hitting R$28.5 billion, with high leverage of 84%.

• Net operating revenue had a slight decrease in revenue generation by R$250 million YoY and the net profit increased by nearly 29%.

• Debt reduction efforts were successful as the debt increased from R$18 billion to almost R$21 billion in 2023, but kept net debt at a level of R$15 billion.

Business Progress:

• The company saw significant growth in number of clients which increased by 66% over the past three years.

• Santo Agostinho Wind Complex project is nearing completion adding renewable capacity contracted in the free market.

• Assu Sol, photovoltaic project, is expected to be operational by 2026.

• Engie Brasil aims to expand on energy generation and participation in the transmission segment.

• The company was included in the S&P Global Sustainability Year Book and its CDP Climate Change rating improved to an A- rating.

• Future plans include high levels of decarbonization, renewal of thermoelectric generation by 2026, and product diversification.

• Over R$9.6 billion is set to be invested in the development of new assets, balancing it with an anticipated increase in debt.

More details: ENGIE BRASIL ENERGIA SA SPON ADR EACH REP 1 ORD SHS IR

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