Q3 2024 Neoenergia SA Earnings Call (English, Portuguese) Transcript
Key Points
- Neoenergia SA (BSP:NEOE3) reported a robust performance in distributed energy with a 6.2% growth in its concession areas.
- The company achieved a cash EBITDA of almost BRL2.5 billion, with a 4% growth in its distribution segment.
- Neoenergia SA (BSP:NEOE3) successfully anticipated the Termopernambuco capacity reserve contract, bringing it forward to October 2024.
- The company demonstrated strong execution capacity with a realized CapEx of BRL2.6 billion in the quarter.
- Neoenergia SA (BSP:NEOE3) maintained a disciplined cost structure, with operating expenses growing only 3%, below inflation.
- The gross cash margin decreased by 4% compared to the third quarter of 2023, primarily due to the end of the Termopernambuco contract in May.
- EBITDA decreased by 8% in the quarter, reflecting the lower gross margin.
- The company's net income declined by 7% over the third quarter of 2023, adjusted for nonrecurring events.
- Transmission EBITDA showed a reduction of 39% due to the deconsolidation of transmission assets after the sale to GIC.
- Neoenergia SA (BSP:NEOE3) faced challenges with a slightly increased net debt of BRL42.1 billion, attributed to accelerated CapEx.
Good morning to all. Welcome to Neoenergia's Third Quarter 2024 Earnings Release Call. I would like to highlight the simultaneous interpretation feature available on the platform. By simply clicking on the interpretation icon or the globe icon at the bottom of your screen, you may choose your preferred language, Portuguese or English.
For those listening to the conference in English, there is an option to mute the original audio in Portuguese by clicking on mute original audio.
This call is being recorded and will be available on the company's IR website, ri.neoenergia.com, where the complete earnings release material is available.
You may also download the presentation using the link sent via chat, including in English. (Operator Instructions)
The information contained in this presentation and statements that may be made during the call relating to Neoenergia's business prospects, projections and operating and financial goals are beliefs and assumptions of the company's management as well as information currently available. Future considerations are no guarantees of
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