Q4 2025 Empresa Distribuidora y Comercializadora Norte SA Earnings Call Transcript
Key Points
- Empresa Distribuidora y Comercializadora Norte SA (EDN) demonstrated a major improvement in results over the last several years, driven by a healthier regulatory environment and a better economic situation in Argentina.
- The company achieved a significant increase in EBITDA, rising 110% to ARS572 billion for the full year of 2025.
- EDN's customer base grew by 1% in the fourth quarter of 2025, reaching 3.39 million clients, mainly due to an increase in residential and medium-sized commercial clients.
- The company successfully reduced personnel costs by 6% for the full year of 2025 through workforce optimization and new talent acquisition.
- EDN's investment in infrastructure and technology has led to improvements in service quality, with a reduction in the duration and frequency of outages, comfortably exceeding regulatory requirements.
- Energy losses for the 12 months were 15.69%, slightly up from 15.18% at the end of September, indicating ongoing challenges in reducing energy losses.
- Despite improvements, the company still faces high energy purchase costs, which rose 13% for the full year due to a reduction in subsidies.
- Material costs were down significantly, but this was partly due to reduced material consumption and improved inventory efficiencies, which may not be sustainable long-term.
- The company has a substantial amount of debt, with total debt outstanding at $782 million as of December 31, 2025.
- Net financial expenses, although reduced by 38%, still represent a significant cost burden for the company.
Good morning, and welcome. This is Lucila Ramallo investor relations the IR Manager at Edenor. On behalf of Edenor we would like to thank everybody for participating in this conference call to discuss the results of the fourth quarter that ended in December 31, 2025.
We will also highlight an important recent development and advances in our efforts to expand our position as an energy leader. If you would like to receive our earnings release or presentation, you can log them easily from the Investor Relations section of our website located at www.edenor.com or contact our Investor Relations team to request the documents.
This event is being recorded. After the company remarks are completed, there will be a question and answer session for which you may submit questions through the webcast chat.
Before proceeding, let me mention that forward-looking statements are based on the belief and assumptions of the Edenor
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