Central Puerto SA

BCBA:CEPU

Revenue: Central Puerto reported Q2 2023 consolidated revenue of Ps. 38.7 billion, down 6% year-over-year.

Profitability: Adjusted EBITDA fell by 34% to Ps. 17.1 billion. Net income dropped 14% to Ps. 4.3 billion.

Acquisitions: The company completed acquisitions of Central Costanera and forestry companies, boosting market leadership and adding new revenue streams.

Operational Challenges: Increased operating expenses were mainly due to significant maintenance at key plants, impacting margins.

Thermal Availability: Availability rates declined due to maintenance, but management expects improvement to normalized levels in coming quarters.

Guidance & Outlook: Management expects ongoing maintenance costs to moderate by year-end and is optimistic about negotiating hydro concession extensions with the next government.

Debt & Liquidity: Total debt reduced by 22% to Ps. 87.2 billion and net debt to Ps. 24.3 billion as of June 30, 2023.