Q2 2024 Equatorial Energia SA Earnings Call Transcript
Key Points
- Equatorial SA (EQUEY) achieved an 11% increase in adjusted EBITDA, reaching BRL2.5 billion, driven by the distribution segment.
- The company successfully became a reference investor in the Zabeth destatization process with a 15% acquisition, valued at BRL5.6 billion.
- Equatorial SA (EQUEY) leads the ranking of institutional investors in all eight categories and was awarded as the most honorable company in the utility segment.
- The company reported a robust cash flow position of BRL12.6 billion and a cash flow per debt ratio of 2.2 times.
- Equatorial SA (EQUEY) has made significant advancements in renewable energy, with a 1.8 gigawatt installed capacity in solar projects.
- The company experienced a 20% decrease in investments compared to the second quarter of 2023, attributed to the finalization of solar projects.
- Equatorial SA (EQUEY) faces challenges with the integration and capital expenditure requirements of Sabesp, needing to double its annual CapEx to meet universalization goals.
- The renewable energy segment saw a 6.8% decrease in adjusted EBITDA due to curtailment issues.
- The company has a high net debt to EBITDA ratio of 3.2 times, indicating significant leverage.
- Equatorial SA (EQUEY) is dealing with operational challenges in regions like Goiais, which still lags behind in meeting regulatory goals.
(Interpreted)
Good afternoon every one welcome to Energia for the second quarter of 2024. here with us we have the Company CEO, Mr. Augusto Miranda, the Vice President of Finance, IR RI in New Businesses, Mr. Leonardo Lucas, Director of Regulation; Mr. Logrado, Director of Financial Strategy and RI; Tatiana Queiroga Vasques, and Mr. Liu Aquino, President of Echoenergia, who at the end will be available to answer any of your questions.
Let me tell you that we have simultaneous translation available on this platform. In order to access this, you click on the interpretation button at the bottom of your screen and choose your preferred language. This conference is being recorded and will be available on the company's Investor Relations website, ri.equitoriaenergia.com.br as well as the presentation, the slide deck here.
(Operator Instructions)
Before moving on, we take this opportunity to emphasize that the forward-looking statements are based on beliefs and assumptions of Equatorial Energia's management in the current information available to the company.
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