Earnings Labs

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (EDN)

Q3 2021 Earnings Call· Thu, Nov 11, 2021

$25.20

-0.02%

Key Takeaways · AI generated
AI summary not yet generated for this transcript. Generation in progress for older transcripts; check back soon, or browse the full transcript below.

Same-Day

+0.17%

1 Week

-7.41%

1 Month

-10.17%

vs S&P

-9.33%

Transcript

Operator

Operator

Buenos Aires, November 11, 2021. This is Edenor Third Quarter 2021 Conference Call. Good morning, ladies and gentlemen, and thank you for joining. At this time, we would like to welcome everyone to Edenor's three quarter 2021 earnings conference call. We would like to inform you that this event is being recorded and all participants will be in a listen-only mode during the presentation. After the company’s remarks are completed, there will be a question-and-answer session through the webcast’s chat. Before proceeding, let me mention that forward-looking statements are based on the beliefs and assumptions of Edenor's management and on information currently available to the company. They involve risks, uncertainties and assumptions, because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions industry conditions and other operating factors could also affect the future results of Edenor and could cause results to differ materially from those experienced in such forward-looking statements. Now, I'll turn the conference over to Mr. German Ranftl, CFO of Edenor.

German Ranftl

Analyst

Good morning, everyone, and thank you for joining. Welcome to Edenor earnings webcast for the third quarter 2021. I truly hope that you and your family are safe and healthy. As you know, you can always call any member of our team for more details on the results of the period or any doubts you may have. First, we will focus on the highlights. Edenor continues to guarantee the electric distribution services to all its 3.2 million customers, which represents a population of approximately 9 million people. Edenor was able to improve its quality services as well as better management of its resources. The key indicators SAIDI and SAIFI represents the duration and frequency of energy cuts for the last 12 months, showing an improvement of 14% and 16% compared with the same period indicators as of September 2020. Revenues from sales were 16% lower than the third quarter 2020 in real terms, mainly due to the fact that the company is still in the process of renegotiating the tariff of distribution value added. Investment reached ARS 10,347 million for the first nine months of 2021, with no material changes for the same period of the previous years. Commercial offices were opened in September 2021, considering the regulatory request. The ENRE established the procedure through which the company must demand the debt at the time of discontinuance of services or cancellation of title. The first disbursement for ARS 1,500 million received was disposed, an ENRE certified compliance with the progress of the execution of the works included in the framework plan under respective financial highlights. On October 15, 2021, the ENRE instructed the company to return ARS 76.4 million in excess of the corresponding amount approved. On October 18, 2021, the company made the payment under trust receiving the right…