Q2 2024 Neoenergia SA Earnings Call (English, Portuguese) Transcript
Key Points
- Injected energy in concession areas grew by 8.2% in the second quarter, driven by higher temperatures and increased economic activity.
- Cash EBITDA surpassed BRL2.4 billion, showing a growth of 3% in the quarter.
- Net income for the quarter was BRL815 million, reflecting a 12% growth compared to the same period last year.
- Realized CapEx reached BRL2.3 billion in the quarter, contributing to a significant net base of distribution assets.
- The company is on track to conclude 2024 with an annualized RAP of BRL1.2 billion, marking progress in the transmission investment cycle.
- Operating expenses grew by 4% compared to the previous year, indicating rising costs.
- The end of the Termopernambuco contract negatively impacted financial results.
- Transmission EBITDA decreased by 17% due to the sale of assets to GIC.
- Loan loss provision reached BRL130 million, although it was an improvement from the previous year.
- The company decided not to participate in the upcoming September transmission auction due to competitiveness issues in small lots.
Good morning, everyone. Welcome to Neoenergia second-quarter 2024 earnings release call. (Operator Instructions)
This conference is being recorded and will be made available on the company's IR website, ri.neoenergia.com, where the complete earnings release material is available. It is also possible to download the presentation using the link send via chat, including in English. (Operator Instructions)
The information contained in this presentation, and any statements that may be made during the call relating to Neoenergia's business prospects, projections or operating and financial goals constitute beliefs and assumptions of the company's management as well as information currently available. Future considerations are no guarantee of performance. They involve risks, uncertainties and assumptions as they refer to future events and therefore, depend on circumstances that may or may not occur.
Investors should understand the general economic conditions, market conditions and other operating factors may affect Neoenergia's future performance and lead to results that differ
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