Edenor(EDN) - 2022 Q1 - Earnings Call Transcript

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]