The company meets the targets of the quality sets, as well as maintaining controlled expenses below inflation

On Monday (17), Neoenergia released its financial and operating results for the fourth quarter and 2024. Adjusted profit was R$1.4 billion in the fourth quarter, and R$4.3 billion in 2024, in line with 2023.

In 2024, Neoenergia increased investments, guaranteeing the quality of energy delivery, with cost discipline and control of operating expenses below inflation by 4%, disregarding non-recurring effects from 2023.

The company ended 2024 with Capex of R$9.8 billion, which represents growth of 10% compared to 2023, concentrated in distribution and transmission with around R$9.6 billion in investments. Capex in the fourth quarter was R$3 billion, an increase of 26% compared to the same period last year.

In terms of quality, the five distributors ended 2024 within the regulatory limits for DEC (Equivalent Interruption Duration per Consumer) and FEC (Equivalent Interruption Frequency per Consumer), as well as having met the target for the sets established by the National Electricity Agency (Aneel). Another highlight was the recognition at the Abradee 2024 Awards, which chose Neoenergia Cosern as the best distributor in the Northeast.

For Eduardo Capelastegui, Neoenergia's CEO, even with a challenging macroeconomic and sector scenario, 2024 was a year of consistent results for the company. "We continued with our strategy of sustainable growth, based on a robust quality plan and discipline in the allocation of capital, with investments mainly in distribution and transmission networks," said Capelastegui.

In this way, the company maintained its focus on greater network resilience, including the continuous improvement of the distribution service to the 16.6 million customers in the five concessionaires: Neoenergia Brasília (DF), Neoenergia Coelba (BA), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Pernambuco (PE).

Energy balance

The volume of energy injected, including distributed generation, was 22,635 GWh, up 2.1% in the fourth quarter, and 87,218 GWh, up 5.8% year-on-year, respectively. The result was influenced by higher temperatures in the first half of last year, as well as an increase in the customer base.

Cash EBITDA and net profit

Cash EBITDA reached R$2.8 billion in the fourth quarter and R$10.6 billion in the year, in line with 2023, due to the negative tariff adjustments in the B portion of the distributors and the end of the Termopernambuco contract in the second quarter of 2024. The anticipation of the plant's commercial operation was authorized in October last year by the National Electric Energy Agency (Aneel). Neoenergia ended the fourth quarter with a net profit of R$852 million and R$3.6 billion in the year to 2024.

Renewables

In the fourth quarter, wind and solar power generated 1,426 GWh, in line with the same period last year. In the year, generation amounted to 5,585 GWh, 7% more than in 2023, due to the higher installed capacity of the Neoenergia Oitis (PI) wind and Neoenergia Luzia (PB) solar complexes.

Transmission

Neoenergia invested around R$4.1 billion in transmission last year, 19% more than in 2023, entirely dedicated to building lines and substations for the lots acquired in auctions. The company delivered the Itabapoana, Estreito and Paraíso projects, as well as important sections of Morro do Chapéu, Guanabara and Vale do Itajaí, adding around R$300 million in new Permitted Annual Revenue (RAP) and closing 2024 with R$1 billion in RAP. With this, the company is close to finishing this investment cycle in 2025, when it will reach around R$1.9 billion in RAP.

Customers

The five distributors ended 2024 with 16.6 million customers. Compared to 2023, there was an increase of 292,000 consumers, around 2%.

Losses

With regard to total losses, three distributors are below the regulatory limit. Neoenergia Coelba (BA) recorded a percentage of 15.69% for the year, with a downward trend that is approaching its regulatory limit of 15.44%.

ESG

In 2024, Neoenergia maintained its commitment to advancing in the management of environmental, social and governance (ESG) aspects, focusing on the 30 targets set by 2030. Of particular note is the milestone of more than a thousand women trained by the School of Electricians since the initiative began in 2013. The company is also included in indexes such as B3's ISE and IDiversa, which facilitated the contracting of R$10.7 billion in green lines throughout 2024, 87% of the total financing disbursed.