Q2 2024 Central Puerto SA Earnings Call Transcript
Key Points
- Energy generation increased by 5% year-over-year, maintaining Central Puerto SA (CEPU)'s leading position in the private power generation sector.
- Revenues for Q2 2024 amounted to $168 million, a 15% increase compared to Q2 2023.
- Net debt reduced by $58 million, showcasing a net debt to adjusted EBITDA ratio of 0.9 times.
- Hydro energy generation from Piedra del Aguila increased by 94% year-over-year due to higher water flow levels.
- The company is actively pursuing new projects, including the San Carlos Solar Farm and Brigadier López combined cycle, both of which are on-schedule and on-budget.
- Adjusted EBITDA for Q2 2024 decreased by 27% year-over-year, amounting to $46 million.
- Net income for the period was $8 million, a 49% decrease year-over-year.
- The company faced a consolidated loss of approximately $22.5 million due to Resolution 58 concerning unpaid receivables with CAMMESA.
- Thermal generation decreased by 7% year-over-year due to lower dispatch of some units.
- Wind generation decreased by almost 8% due to a storm and maintenance works on some blades.
Good morning, ladies and gentlemen welcome to Central Puerto's second quarter 2024 earnings webcast. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.
If you do not have a copy of the press release, please refer to the Investor Relations Support section on the company's corporate website at www.centralpuerto.com. In addition, a replay of today's call may be accessed by accessing the webcast link at the same section of Central Puerto's website.
Before we proceed, please be aware that all financial figures were prepared in accordance with IFRS and were converted from Argentine pesos to US dollars for comparison purposes only. The exchange rate used to convert Argentine pesos to US dollars was the reference exchange rate reported by the Central Bank for US dollars for the end of each period.
The information presented in US dollars is for the convenience of the reader only, and you should not consider these translations to
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