In the year to date, Caixa EBITDA reached R$7.7 billion, an increase of 2%; and Capex reached R$6.7 billion, of which R$3.7 billion in distribution

On Tuesday (22), Neoenergia released its financial and operating results for the third quarter and year-to-date 2024. The volume of energy injected, including distributed generation, was 20,799 GWh, up 4.1% in the third quarter, and 64,361 GWh, up 7% year-to-date, compared to the same periods last year, respectively. This result was influenced by higher temperatures and an increase in the customer base. Operating expenses were controlled both in the third quarter, with a positive variation of 3%, and in the year to date, with an increase of 4%.

"We maintained cost discipline and control of operating expenses. We kept in line with inflation for the period, which demonstrates our commitment to management efficiency, business resilience and creating value for our shareholders," said Eduardo Capelastegui, CEO of Neoenergia.

Capex

Neoenergia invested around R$6.7 billion in the year to date, with a positive variation of 4% compared to the same period in 2023. Of this total, R$3.7 billion was allocated to energy distribution for the continuous improvement of supply to the 16.6 million customers of the five concessionaires: Neoenergia Brasília (DF), Neoenergia Coelba (BA), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Pernambuco (PE). Capex in the third quarter was R$2.6 billion, up 17%.

EBITDA Cash

In the year to date, Cash EBITDA reached R$7.7 billion, an increase of 2%. In the third quarter, Cash EBITDA was R$2.5 billion, down 5% due to the negative tariff readjustments for the B portion of the distributors and the end of the Termopernambuco contract in the second quarter of this year. The anticipation of the commercial operation of the UTE was authorized by the National Electric Energy Agency (Aneel) in October.

Net profit

Neoenergia recorded a net profit of R$841 million in the third quarter and R$2.8 billion in 2024. Profit adjusted for non-recurring effects fell 7% in the third quarter and grew 2% year-to-date, for the same reasons as Cash EBITDA.

Renewables

In the third quarter, wind and solar power generated 1,923 GWh, 21.6% more than in the same period last year. This performance is due to the better conditions of these energy sources. In the year to date, generation amounted to 4,159 GWh, 10.4% more than in the same period in 2023, due to the greater installed capacity of the Neoenergia Oitis (PI) wind complex and greater solar resources.

Transmission

In the third quarter, Neoenergia delivered the Estreito lot (lot 4 - December/2021 auction), releasing 100% of the annual revenue allowed (RAP). The period was also marked by the partial release of more than 13% (around R$34 million) of the RAP for the Vale do Itajaí lot, which represents 22% (around R$58 million) of the RAP released in this lot. The transmission business made a profit of R$136 million in the third quarter.

Customers

The five distributors - Neoenergia Brasília (DF), Neoenergia Coelba (BA), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Pernambuco (PE) - ended the third quarter with 16.6 million customers. Compared to the third quarter of last year, there was an increase of 302,000 consumers, around 2%.

Quality

With regard to the quality of energy supply, the five distributors are below the regulatory limit for both DEC (Equivalent Duration of Interruption per Consumer) and FEC (Equivalent Frequency of Interruption per Consumer). Another highlight was recognition in the Abradee 2024 Award, which elected Neoenergia Cosern as the best distributor in the Northeast.

Losses

In terms of total losses, three distributors are below the regulatory limit. Neoenergia Coelba (BA) recorded a percentage of 15.72% with a downward trend that is approaching its regulatory limit of 15.45%.