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Empresa Distribuidora y Comercializadora Norte SA
NYSE:EDN

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Empresa Distribuidora y Comercializadora Norte SA
NYSE:EDN
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Price: 30.6 USD 2.75% Market Closed
Market Cap: 1.3B USD

Empresa Distribuidora y Comercializadora Norte SA
Investor Relations

Empresa Distribuidora y Comercializadora Norte S.A., often referred to as Edenor, operates as a vital conduit in Argentina's energy sector. Serving as the largest electricity distributor in the country, Edenor is responsible for bringing reliable and accessible electricity to a densely populated area that covers the northern region of Buenos Aires and all its surrounding localities. This vast network is its lifeline, comprising power lines, substations, and increasingly sophisticated metering systems, all of which work in concert to ensure a continuous flicker of lights across urban homes, industrial complexes, and critical infrastructure facilities. Substantially, Edenor's operations hinge on the regulatory framework set by the Argentine government, which dictates how it procures electricity and manages tariffs. The company endeavors to balance regulatory constraints, operational costs, and technological upgrades, continuously enhancing the resilience and efficiency of its supply chain.

Edenor’s business model primarily revolves around the distribution and commercialization of electricity, where the company derives its revenue from the tariffs applied on the distributed energy to its consumers. Beyond the fundamental act of distribution, Edenor invests in technology upgrades and maintenance of urban electrical systems to prevent outages and reduce energy loss. Their focus on grid reliability and efficiency is central to their mission, aiming to meet the growing energy demands of a sprawling urban population. Additionally, Edenor is also involved in initiatives to integrate renewable energy and smart grid solutions as part of a broader strategy to innovate within the energy sector. Through strategized investments and infrastructural modernizations, Edenor seeks not just to meet the present demand, but to lay down a sustainable roadmap for future energy distribution, navigating the challenges posed by an ever-evolving energy landscape.

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Last Earnings Call
Fiscal Period
Q3 2022
Call Date
Nov 10, 2022
AI Summary
Q3 2022

Revenue Decline: Edenor’s revenue from sales dropped by 11% compared to Q3 2021, mainly due to a lack of tariff (VAD) adjustments.

Service Quality: Despite the revenue drop, Edenor achieved record improvements in service quality indicators (SAIDI down 19%, SAIFI down 13%).

Debt Restructuring: The company successfully completed a voluntary debt exchange, supported by over 77% of bondholders.

Credit Rating Upgrades: Moody’s and S&P both improved Edenor’s credit outlook and ratings following the debt exchange.

Profitability Impact: Gross margin and EBITDA both declined sharply, with EBITDA turning negative due to lower revenues and higher costs.

Regulatory Changes: Energy price and subsidy changes were introduced, but do not affect Edenor’s value-added distribution income.

Tariff Review Uncertainty: The timing and methodology of upcoming tariff reviews remain unclear as they are tied to the 2023 budget approval.

Key Financials
Gross Margin
ARS 14,730 million
EBITDA
Loss of ARS 2,703 million
Financial Results
Loss of ARS 20,615 million
Net Results
Loss of ARS 6,082 million
Volume of Energy Sold
5,979 gigawatts
Customer Base
over 3.2 million customers
Capital Expenditures (9 months)
ARS 16,802 million
SAIDI (3 months avg)
9 hours per client per year
SAIFI (3 months avg)
3.7 outages per client per year
Energy Losses
17.7%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Daniel Marx
Chairman & CEO
No Bio Available
Mr. German Ranftl
Finance and Control Director
No Bio Available
Mr. Pablo Perez
Director of Operations & Customer Services
No Bio Available
Mr. Miguel Farrel
Technical Director
No Bio Available
Ms. Maria Jose Van Morlegan
Director of Legal & Regulatory Affairs
No Bio Available
Mr. Ignacio Letemendia
Human Resource Director
No Bio Available
Ms. Silvana Esther Coria
Regular Head of Market Relations
No Bio Available

Contacts

Address
BUENOS AIRES
Buenos Aires
Libertador Del Av. 6363, Depto: 1
Contacts