Q2 2024 ENGIE Brasil Energia SA Earnings Call (English, Portuguese) Transcript
Key Points
- ENGIE Brasil Energia SA (EGIEY) successfully authorized 15 units for commercial operations at the Assuruá Wind Complex, with an additional 36 units in test mode.
- The company fully energized the Gavião Real Transmission System, enhancing synergy with its portfolio.
- ENGIE Brasil Energia SA (EGIEY) won the Energy category in Exame's Best of ESG ranking and received the Great Place to Work Brazil certification.
- The company approved the distribution of interim dividends amounting to BRL932.8 million.
- Adjusted EBITDA increased by 8.6% from BRL1.710 billion in Q2 '23 to BRL1.96 billion in Q2 '24, driven by indemnity from Santo Agostinho and improved hydro performance.
- The company faced financial impacts due to incidents at the Santo Agostinho project, resulting in a BRL262 million indemnity.
- Net income was affected by increased income tax payments, with BRL46 million more paid compared to the previous year.
- There was a 2.6% negative variation in the last six months compared to the previous year.
- The company's ROIC decreased from 20.3% to 18.3%, attributed to income retention.
- ENGIE Brasil Energia SA (EGIEY) experienced a reduction in sales during Q2, as part of a strategic decision due to market volatility.
Good morning, and welcome to the ENGIE Brazilâs second quarter 2024 earnings results video conference. I'm Adriana Wagner, Investor Relations Analyst for ENGIE Brasil Energia, and I'd like to make a few announcements before we start.
(Event Instructions) Mind that this video conference is being recorded, we make available in our website, www.engie.com.br/investors, the results of the presentation and the earnings release, quarterly financial statements, and other documents filed at CMG. We analyze there the financial statements, ESG KPIs, progress and implementation of new projects and others.
Before proceeding, we would like to clarify that all statements that may be made during this video conference regarding the business outlook of the company should be treated as forecast and depend on the country's macro-economic conditions, performance, and regulation of the electric sector. In addition to other variables and are subject to changes remain that -- we will
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