BUENOS AIRES, Argentina, April 24, 2024 /PRNewswire/ -- Empresa Distribuidora y Comercializadora norte S.A. ("edenor" or the "Company"; BYMA/NYSE: EDN), the largest electricity distribution company in Argentina, announces that on April 24th, 2024, it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 (the '2023 Annual Report') before the U.S. Securities and Exchange Commission (the 'SEC'). The 2023 Annual Report can be accessed by visiting either the SEC's website at www.se ...

Economic Conditions - The Argentine Peso depreciated by 356.3% against the U.S. dollar in 2023, compared to 72.5% in 2022[29]. - The average exchange rate for the year ended December 31, 2023, was Ps. 280.92 per U.S. dollar[32]. - Argentina's real GDP decreased by 1.4% for the year ended December 31, 2023, compared to the same period in 2022[59]. - Inflation in Argentina remains high at 11% as of March 2024, which may continue to affect economic conditions[59]. - The Argentine economy remains vulnerable to external shocks, particularly from major trading partners like Brazil, which could affect exports and competitiveness[98]. - The U.S. economy's highest inflation rates in decades may adversely affect developing countries like Argentina, creating uncertainty in international markets[99]. - Argentina's economy is significantly dependent on commodity exports, particularly soy, making it vulnerable to fluctuations in international prices[121]. - A sustained decrease in international commodity prices could adversely affect the Argentine government's revenues and its ability to meet public debt obligations[122]. Inflation and Currency Risks - The company faces risks related to high inflation, which could adversely affect its results of operations[34]. - The Argentine economy is characterized by significant volatility, including high inflation and currency depreciation, impacting business operations[54]. - Fluctuations in the peso against the U.S. dollar may adversely impact the company's financial condition and results of operations[90]. - The Argentine peso is classified as a currency of a hyperinflationary economy, requiring the company to restate historical financial statements according to IFRS[70]. - The average interest rate on Argentina's foreign currency external bonds was reduced to 3.07% from 7.0% following a restructuring agreement in 2020[76]. Regulatory and Governmental Risks - The company is subject to regulatory changes that may affect its tariff structure and revenue generation[37]. - The Argentine Government's intervention in the electricity sector poses ongoing risks to the company's operations[34]. - The Argentine Government's policies may significantly influence the economy and the operations of the energy distribution industry[62]. - The Argentine government has announced plans to reduce public spending, including energy and transportation subsidies[95]. - The Secretariat of Energy is empowered to redefine subsidy structures to ensure access to essential electricity and natural gas services for end users[134]. - The Argentine Government has the right to foreclose on its pledge over Class A common shares if fines and penalties exceed 20% of gross energy sales[186]. Operational Challenges - Energy shortages could disrupt the company's ability to deliver electricity, leading to customer claims and penalties[37]. - The company has been impacted by high rates of inflation, which affect its operational costs[34]. - The company faces uncertainty regarding future tariff adjustments and the potential impact of government measures on its operations and financial results[143]. - The company has experienced power shortages due to increased demand outpacing distribution capacity, leading to potential customer complaints and fines[150]. - The company implemented an emergency plan in March 2023 due to a heat wave that caused a 40% increase in national energy demand and a significant loss of generation capacity[158]. Financial Position and Debt - As of December 31, 2023, accrued fines and penalties totaled Ps. 62,880 million, significantly increasing from Ps. 23,032 million in 2022 and Ps. 25,183 million in 2021[180]. - The company has accumulated a past due principal balance with CAMMESA of Ps. 197,731 million, compared to Ps. 56,479 million in 2022[208]. - The company recognized an accumulated debt of Ps. 57,159 million as of August 31, 2022, which was reduced to Ps. 32,985 million under the 2022 Agreement, to be paid in 96 installments[205]. - The company has outstanding financial debt totaling U.S.$ 27.2 million, U.S.$ 55.2 million, and U.S.$ 95.7 million in Senior Notes, all accruing interest at a fixed nominal annual rate of 9.75%[210]. - The company may face liquidity shortfalls if it cannot recover amounts related to discounts and bonuses under the Social Rate regime, which could adversely affect its business[209]. Legal and Compliance Risks - The company faces risks related to legal proceedings that could adversely affect its financial position and results of operations[42]. - The company is involved in various legal proceedings that could have a material adverse effect on its financial position and results of operations[197]. - The company has internal processes and an Ethics and Compliance Code to mitigate risks related to anti-corruption and anti-bribery laws, but there is no guarantee these measures will be effective[196]. Labor and Employment - The company employs 4,635 employees, with 79% being union members, which poses a risk of organized labor actions affecting operations[193]. - The company has approximately 6,647 third-party employees related to outsourcing contracts, which could lead to material labor liabilities[194]. Environmental Risks - The company is subject to environmental risks that could lead to additional costs affecting financial condition and results of operations[168]. - Changes in weather conditions, including severe weather events, have impacted service continuity and could lead to increased operating costs[171]. - The Argentine Government's implementation of new environmental laws may require the company to incur higher compliance costs[169].

In addition, the installation of 7,859 Integrated Energy Meters(MIDE) during 2023 attests to our commitment to modernizing energy monitoring mechanisms. Augmenting these efforts, a novel energy balance system has been meticulously implemented, complemented by the advent of microbalances in private neighborhoods. Despite our tenacious endeavors, there have been cases of repeat fraud in many client groups. EARNINGS RELEASE FOURTH QUARTER 2023 15 SUMMARY OF RESULTS FOURTH QUARTER 2023 04 FINANCIAL DEBT Notes C ...

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Q4 2023 Earnings Conference Call March 11, 2024 11:00 AM ET Company Participants Solange Barthe - Investor Relations Manager German Ranftl - Chief Financial Officer Conference Call Participants Christian Tate - Balanz Solange Barthe Good morning, on behalf of Edenor, we would like to thank everybody for participating in this Conference Call to discuss the Results of Fiscal Year 2023 and the Fourth Quarter ended December 21, 2023, tha ...

FINANCIAL STATEMENTS AS OF DECEMBER 31, 2023 AND 2022 AND FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 (Stated in millions of Argentine Pesos in constant currency – Note 3) 2 0 2 3 F I N A N C I A L S TAT E M E N T S | Legal Information | 2 | | --- | --- | | Statement of Comprehensive Income (Loss) | 3 | | Statement of Financial Position | 4 | | Statement of Changes in Equity | 6 | | Statement of Cash Flows | 7 | | Notes to the Financial Statements: | | | 1 General information | 9 | | 2 Regulatory f ...

As filed with the Securities and Exchange Commission on April 20, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Commission File Number: 001-33422 Empresa Distribuidoray Comercializadora Norte S.A. (EDENOR S.A.) (Exact name of Registrant as specified in its charter) Distribution and Marketing Company of the North S.A. Argentine Republic (Tra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2023 EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (EDENOR) (DISTRIBUTION AND MARKETING COMPANY OF THE NORTH ) (Translation of Registrant's Name Into English) (Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the in ...

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Q3 2022 Earnings Conference Call November 10, 2022 2:00 PM ET Company Participants German Ranftl - CFO Operator Good afternoon, ladies and gentlemen, and thank you for joining. At this time, we would like to welcome everyone to Edenor's Third Quarter 2022 Earnings Conference Call. We would like to inform you that this event is being recorded. [Operator Instructions] After the company's remarks are completed, there will be a questiona ...

Empresa Distribuidora y Comercializadora Norte Sociedad Anonima (NYSE:EDN) Q2 2022 Results Conference Call August 8, 2022 2:00 PM ET Company Participants German Ranftl - Chief Financial Officer Operator Good afternoon, ladies and gentlemen, and thank you for joining. At this time, we would like to welcome everyone to Edenor's 2Q 2022 Earnings Conference Call. We would like to inform you that this event is being recorded. [Operator Instructions] After the company's remarks are completed, there will be a ques ...

Financial Data and Key Indicators Changes - Revenues from sales decreased by 7% in real terms compared to Q1 2021, primarily due to inflation and frozen tariffs [5] - Gross margin for Q1 2022 was ARS 12,452 million, a decline of 3% year-over-year [8] - EBITDA decreased by ARS 110 million, resulting in ARS 1,329 million for Q1 2022 compared to ARS 1,439 million in the same period of the previous year [9] - Net results recorded losses of ARS 2,818 million in Q1 2022, compared to losses of ARS 1,018 million in Q1 2021 [11] Business Line Data and Key Indicators Changes - The volume of energy sales increased by 5%, reaching 5,470 GWh in Q1 2022 compared to 5,512 GWh in Q1 2021 [9] - Customer base grew by 2.3%, reaching over 3.2 million customers, mainly due to an increase in residential customers [10] Market Data and Key Indicators Changes - SAIDI and SAIFI indicators improved by 13% and 11% respectively compared to the same period last year, indicating better service quality [13] - Energy losses decreased by 13.8% in Q1 2022 compared to a 16% decrease in the same period of the previous year [14] Company Strategy and Development Direction - The company aims to provide socially responsible electricity distribution services and lead the energy transition to improve quality of life and community development [4] - Investments in new connections, grid enhancement, and maintenance totaled ARS 2,684 million in Q1 2022, down from ARS 3,920 million in Q1 2021 [11][12] Management Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by inflation and tariff freezes impacting revenue [5] - The company is focused on improving service quality and reducing energy losses through technology and market discipline actions [14] Other Important Information - The company successfully restructured debt with a 73.25% acceptance rate for the exchange offer [6][7] - Credit ratings from agencies like Standard and Poor's and Fitch were updated, with a positive outlook from S&P [8] Q&A Session Summary - No specific questions or answers were recorded during the Q&A session as the call concluded without further inquiries [16]