He board of Empresa Distribuidora Sur SA (“Edesur”) announced that it approved, today, its financial statements as of December 31, 2023.
The income recorded during the year 2023 reached $492,223 millionproduct of the increases in the own distribution cost of the 107.81% and of 74% which were applied as of April 1 and June 1, 2023, respectively, along with the effect of higher energy sales in physical terms, which registered an increase of 3% compared to those of 2022.
EBITDA as of December 31, 2023 showed a loss ($64,802 million), due to the increase in operating costs, mainly, due to higher charges for energy purchases and for salaries and social charges.
Physical sales did not include tolls or consumption in poor neighborhoods in the Province of Buenos Aires. “The operating result (EBIT) was affected by what was indicated in the previous paragraph, added to the higher depreciations and amortizations,” they explained.
The result for the year was $79,732 million, that is, 29% lower than in 2022. It should be noted that the result for the 2022 financial year contemplated the effects of the two agreements signed during December of that year between Edesur and the authorities, namely: the first of them, “Agreement on recognition of electricity consumption in popular neighborhoods of the province of Buenos Aires” corresponding to the period between January and December 2021.
Through this agreement, the Company recognized service income of $3,557 million and financial income of $1,848 million, which totaled $5,405 million, and 2) “Article 87 of Law No. 27,591” – Minutes of agreement between the Ministry of Energy and the ENRE, on the one hand, and Edesur, on the other. The effects of this agreement impacted the Company’s results through the recognition of operating income of $121,386 milliona recovery of financial costs for $42,750 million, and its corresponding impact on the “Income tax” line.
“The net debt worsened compared to December 2022, due to the increase in the financial debt contracted with companies of the Enel Argentina group, to finance the Company’s operation. and, in this way, make up for the delay in the rate update, to which is added a decrease in the balances of current investments,” the company expanded.
Investments reached $89,457 million during 2023. During the year 2023, the accumulated demand for electrical energy in the Edesur concession area increased 2.8% compared to the year 2022, having reached 21,606 GWh, a value that does not include exchanges with other distributors.
Analyzing demand by type of user, Small or residential demand reflected an increase of 4.2%, demand linked to a greater or lesser extent to temperature. In turn, medium and large demands linked to the commercial and industrial sectors had growth of 0.9% and 1.5%, respectively.
Energy sales in 2023 (17,709 GWh) had an increase of 3% compared to the previous year (17,163 GWh), in line with the increase in electricity consumption in all demand segments.
The number of clients increased by 57 thousand new usersconcentrated mainly in small demands for residential use.
The accumulated energy loss indicator for the last twelve months was 16.8%having verified a reduction in relation to the previous year, when it had been 17.1%
Source: Ambito
