Earnings Results Presentation
24 July 2024
Disclaimer
Earnings Results
Presentation
24 July 2024
This presentation was prepared by Neoenergia S.A. ("NEOENERGIA") indicating the general situation and the progress of NEOENERGIA's business. Although the information contained in this document was prepared with the necessary care and diligence, the information provided herein accurately reflects the moment the information was consolidated, reflecting NEOENERGIA's current conditions and its point of view. Therefore, the information is subject to change. This presentation should be seen only together with the oral presentation made by NEOENERGIA and its Financial Statements. NEOENERGIA can not be held liable for any loss directly or indirectly arising from the use of this presentation or its content. The presentation is a property of NEOENERGIA and should not be reproduced, distributed or disclosed to third parties, or even used for any other purpose without the prior written consent of
NEOENERGIA.
The Company points out that this presentation may contain statements that represent expectations and projections of NEOENERGIA about future events. These expectations involve a number of risks and uncertainties, and may therefore have results or consequences other than those discussed and anticipated.
For further information about the companies, please refer to the reports filed with the Securities and Exchange Commission (CVM) or the Investor Relations website ri.neoenergia.com.
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Highlights
Earnings Results
Presentation
24 July 2024
Injected Energy | Cash EBITDA¹ |
▪ +8.2% vs. 2Q23, including DG. | ▪ R$ 2.4 BN in 2Q24 (+3% vs. 2Q23). |
Transmission | Opex |
▪ Delivery of Itabapoana, | ▪ R$ 1.1 BN in 2Q24 (+4% vs. 2Q23). |
Paraíso and Morro do Chapéu |
- +R$ 0.2 BN of RAP.
Capex | Net Income |
▪ R$ 2.3 BN of Capex in 2Q24; | ▪ R$ 815 MN in 2Q24 (+12% vs. 2Q23). |
- Net RAB of R$ 37.5 BN in 2Q24.
Note:¹ ex- VNR, IFRS 15 and Corporate Operations | 3 |
Projects Under Construction: Transmission
Earnings Results
Presentation
24 July 2024
Dec'2018 Auction
Itabapoana: 100 %
Delivered
- Project completed with 100% of RAP released (+R$91MN).
Guanabara:
Project Progress 91%
-
1 section concluded with LO released,
2nd section under construction.
‒ Full RAP release in | 2024 |
(+R$155MN). |
Vale do Itajaí:
Project Progress 76%
- 9% of RAP released (+R$23MN), R$33MN in 3Q24. Final RAP release in 2025 (+R$201MN).
Dec'2020 Auction
Morro do Chapéu:
Project Progress 94%
- 47% of RAP released (+R$99MN).
- Remaining RAP (+R$103MN) will be released over 2024, according to Business Plan.
Dec'2021 Auction
Estreito:
Project Progress 99%
- 1/3 of project concluded with 33% of RAP released (+R$ 14MN)
- 2nd e 3rd sections in testing phase, to be delivered in 3Q24 (+R$28MN).
Jun'2022 Auction
Paraíso: 100 %
Delivered
- Project completed with 100% of RAP released (+R$42MN), surpassing the Business Plan.
Alto Paranaíba:
Project Progress 27%
- Licensing partially completed.
- Works started in Substations and 2 transmission lines (2 of 3).
R$0.2 BN of RAP released in 6M24 reaching R$0.9 BN of total RAP. | 4 |
An additional R$0.3 BN is expected to be released in 2024, totaling R$1.2 BN. |
Earnings Results
Presentation
24 July 2024
DESTAQUES | Results Analysis |
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Results 2Q23 x 2Q24 | 6M23 vs. 6M24/ Consolidated
Earnings Results
Presentation
24 July 2024
Cash Gross Margin¹
ExpensesEBITDA
R$ MN
+3% |
R$ MN | R$ MN | +3% |
+1%
3,559 | 3,581 |
2Q23 | 2Q24 |
7,308 | 7,551 | |||
6M23 | 6M24 |
+5% | ||||||||||||||
+4% | ||||||||||||||
1,984 | 2,086 | |||||||||||||
1,014 | 1,053 | |||||||||||||
2Q23 | 2Q24 | 6M23 | 6M24 |
+12%
2,662 | 2,970 |
2Q23 | 2Q24 |
6,282 | 6,477 |
6M23 | 6M24 |
Cash EBITDA² | Net Income |
R$ MN | 13% | R$ MN | |||||||
+5% | |||||||||
+3% | 4,975 | 5,247 | EBITDA | +12% | 0% | ||||
6M24 | |||||||||
2,429 | 87% | ||||||||
2,366 | |||||||||
1,943 | 1,942 | ||||||||
728 | 815 | ||||||||
2Q23 | 2Q24 | 6M23 | 6M24 | Networks | Generation and Customers | 2Q23 | 2Q24 | 6M23 | 6M24 |
NOTE: ¹ ex- VNR and IFRS 15. | 6 |
²ex- VNR, IFRS 15 and Corporate Operations |
Neoenergia CAPEX 2Q24 | 6M24
Earnings Results
Presentation
24 July 2024
98.7% | Networks |
6M24 R$ 4.2 BN
1.3%
Generation
and Customers
Networks | Generation and Customers | |
2Q246M24
R$ 1,243 MN | R$ 2,360 MN in Distribution |
- Network Expansion
- Asset Renewal
- Network Quality Improvement
- Loss reduction actions
R$ 1,017 MN | R$ 1,745 MN in Transmission |
- Projects under construction
R$ 37 MN | R$ 54 MN in Generation and Customers |
Sustaining Capex:
- Wind: R$ 18 MN in 2Q24 and R$ 27 MN in 6M24
- Hydro: R$ 11 MN in 2Q24 and R$ 14 MN in 6M24
- Solar: R$ 5 MN in 2Q24 and R$ 5 MN in 6M24
- Termopernambuco: R$ 1 MN in 2Q24 and R$ 3 MN in 6M24
R$ 2.3 billion invested in the quarter and R$ 4.2 billion invested in the year.
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Earnings Results
Presentation
24 July 2024
Results Analysis
Networks
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Networks | Distribution / Injected Energy (GWh): 2Q24 and 6M24
Earnings Results
Presentation
24 July 2024
16.5 million of clients | +304 thousand new clients in 2Q24 vs. 2Q23
+7.0% | ||
291 | 421 | |
6,415 | +5.3% | 6,753 |
2Q23 | 2Q24 | |
+7.7% | ||
604 | 891 | |
12,961 | +5.8% | 13,714 |
6M23 | 6M24 |
+8.6% | ||
228 | 338 | |
4,259 | +6.5% | 4,537 |
2Q23 | 2Q24 |
+8.7% | ||
441 | 663 | |
8,723 | +6.6% | 9,300 |
6M23 | 6M24 |
+6.6%
143 | +4.2% | 191 |
1,560 | 1,625 | |
2Q23 | 2Q24 |
+7.6%
282 | +5.0% | 387 |
3,334 | ||
3,175 | ||
6M23 | 6M24 |
+10.8% | ||
171 | 250 | |
4,779 | +9.6% | 5,236 |
2Q23 | 2Q24 |
+10.4% | ||
343 | 499 | |
9,829 | +9.1% | 10,726 |
6M23 | 6M24 |
+6.2% | ||
81 | +3.6% | 134 |
1,837 | 1,903 | |
2Q23 | 2Q24 |
+5.3% | ||
164 | 243 | |
3,671 | +3.4% | 3,795 |
6M23 | 6M24 |
SIN + isolated systems
DG Injected Energy
Strong Growth:
+8.2% in 2Q24 vs. 2Q23 and 8.4% in 6M24 vs. 6M23, including DG.
Neoenergia Coelba, Neoenergia Cosern and Neoenergia Elektro with markets adjusted in the 2023 RTP offsetting DG migrations. | 9 |
Networks | Distribution / Total Losses 12 Months: 2Q24
Earnings Results
Presentation
24 July 2024
16.11
15.49
10.32 | 7. 81 |
8.717.75
11.76
11.15
18.11
15.30
2Q24 | 2Q24 | 2Q24 | 2Q24 | 2Q24 |
Total Losses | Regulatory Limit |
Controlled losses, despite high temperatures and slightly below 1Q24.
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