The following is a summary of the Empresa Distribuidora Y Comercializadora Norte Sociedad Anónima (EDN) Q4 2023 Earnings Call Transcript:
Financial Performance:
Edenor reported a decrease in Q4 2023 revenues by 17%, amounting to ARS120.4 billion compared to Q4 2022, but annual sales for 2023 rose by 9%.
A significant rise in EBITDA for the full year 2023 to ARS163.5 billion versus ARS19 billion the previous year.
There was a net loss of ARS32.7 billion reported in Q4 of 2023, while the company achieved a profit of ARS48.4 billion for the whole year.
Investment in 2023 was up 17% versus 2022 at ARS123.6 billion, with the aim to improve service quality.
Total capital debt outstanding was $182 million following recent issuances.
Business Progress:
Edenor transformed their network into a smart grid by installing significant numbers of remote control points, tele-supervision points and smart meters, and modernized customer service with the Edenor Digital app.
The investment plan focused on augmenting capacity, infrastructure, new supplies and installing self-managing energy meters.
Edenor's customer base grew by 1% year on year due to the addition of residential and industrial customers.
Aim to expand on smart grid technology, clean energy supply, and renewable energy generation projects to meet Argentina's energy transition goals.
Over 11 years, more than $2 billion has been invested in infrastructure to improve operational capacity.
Quality of service improved in 2023, with reductions in the SAIDI and SAIFI service quality indicators compared to 2014.
Edenor managed to raise $100 million through two note issues in the local market to improve their debt profile.
More details: Edenor S.A. IR
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