Eduardo Capelastegui, CEO of Neoenergia
The balance of a year of good results
Operational excellence, quality of supply and social impact are highlighted. The energy that drives progress. In 2024, Neoenergia remained focused on ensuring reliable supply, investing responsibly, and creating sustainable value for customers, employees, and shareholders. The company's CEO, Eduardo Capelastegui, shares the main highlights of the period and the vision for the coming years.
How does Neoenergia evaluate the year 2024?
It was a year of growth and resilience. We maintained operational excellence, invested in modernization, and guaranteed quality energy supply for approximately 17 million Brazilians. The electricity sector is undergoing important transformations and our strategy is aligned with this evolution. Commitment to efficiency, innovation, and sustainability guides every decision.
What were the main numbers and how do they reflect Neoenergia's advances?
In the year, distributed energy grew 6%, as a result of the increase in consumption and the positive performance of our distributors, which continue to improve their operating results. EBITDA reached R$ 12.5 billion accumulated in 2024, increasing compared to the previous year. In 4Q24, it was R$ 3.1 billion, an increase of 8% compared to the same period in 2023. Adjusted net income was R$ 4.3 billion in the year, in line with 2023, and R$ 1.4 billion in the quarter, down 5% compared to 4Q23.
The anticipation of the Termopernambuco contract was a strategic move to strengthen the business in the long term. In distribution, all dealerships maintained quality within regulatory standards and joint service goals. At the operational level, we continue to improve the fight against losses and the increase in revenue
.Combating losses remains one of the sector's challenges. How is Neoenergia?
Operational efficiency reduces waste and ensures a more balanced system. In 2024, we carried out 357,000 inspections, replaced 302,000 obsolete meters, and regulated 180,000 clandestine connections. Three distributors are within the regulatory targets and Neoenergia Coelba is very close. Neoenergia Pernambuco still requires adjustments, but we are continuing to accelerate actions to ensure consistent progress.
How do you evaluate the advance payment of the Termopernambuco contract?
It reflects our long-term vision. We could anticipate the transition to a more sustainable model or remain without a contract until mid-2026. We opted for the first alternative, bringing it forward by 21 months, which reduces financial risks and improves predictability.
How did Neoenergia balance growth and financial discipline in 2024?
In the year, we invested R$ 9.8 billion, focused on expanding the networks, which represents 60% of CAPEX distribution, and we made significant deliveries in transmission throughout 2024, adding R$ 300 MM of RAP. Of that total investment, R$ 5.5 billion went to distribution and R$ 4.1 billion to broadcasting. It is worth saying that we kept OPEX in line with inflation. This means balanced growth, ensuring consistent results and an increasingly secure supply.
Leverage closed at 3.45x EBITDA for the year, an increase of 0.28 p.p. compared to 2023. Our priority is to maintain disciplined management to ensure liquidity and predictability, without compromising our capacity for growth. The balance between investment and financial strength has always been a Neoenergia trademark, and we are moving in that direction.
The new obligations require an even more focused look at the customer. Among the new guidelines, anything to highlight?
Our sector requires constant evolution, which is why it is necessary to anticipate trends to guarantee quality and security in supply. One of the sectoral changes stipulated by Aneel was designed precisely so that companies could offer a better customer experience. This is group service, 80%, by 2026. The new model requires rigorous planning and execution, and as I mentioned before, Neoenergia has advanced the curve defined for 2024, demonstrating that the route is correct.
Talk a bit about renewable energy generation in 2024.
Our strategy is guided by discipline and long-term vision. As the sector entered an accelerated investment cycle, we structured our portfolio more solidly. Even in a challenging year, cumulative energy generation in 2024 was 5,585 GWh, up from 2023, due to the greater installed capacity of the Neoenergia Oitis wind farm (PI) and the largest solar resource of Neoenergia Luiza (PB).
Neoenergia has made investments to improve the customer experience. What has evolved?
Facilitating access and improving customer service is a priority. We created a Customer Experience Board, dedicated solely to improving the consumer journey. We expanded digital channels, centralizing more than 40 services in the Neoenergia app, and inaugurated 37 new physical stores, ensuring a more accessible service.
We strengthened our awareness and safety actions, with initiatives such as the Safe Community program, which reached millions of Brazilians. Good service goes beyond technical quality — it needs to be simple, efficient, and accessible. We ended 2024 with almost 17 million customers, an increase of 292 thousand. For them, we need to be attentive to details, to care for the experience, and obstinate to have much more than satisfied customers.
What achievements marked 2024?
We generated other significant impacts that make me very proud, such as the training of 400 electricians, with 50% of them women, reinforcing our commitment to training and inclusion. Our Safe Community program reached 124 million people, raising awareness about the safe use of energy.
We were recognized by Great Place to Work as one of the best companies to work for in Brazil, which shows that we are building an environment where people want to be. Our social investment also grew, with R$ 69 million directed to impactful initiatives in the communities where we operate. The energy we deliver every day transforms lives — and that's what motivates us.
Among the actions to reduce debt and make our balance sheet more robust, I highlight the Public Tender Offer of Neoenergia Cosern and the sale of our participation in the Lower Iguaçu project, both with better multiples than those practiced by the market.
What to expect in 2025?
We will continue to grow with responsibility and positive impact. Our primary focus is to continue our investments in networks, improving the quality of supply, expanding infrastructure with intelligence, and maintaining financial discipline. We want to be protagonists in Brazil's energy transition, investing in innovation and sustainability. The electricity sector is changing, and Neoenergia is prepared to lead this transformation.