Empresa Distribuidora y Comercializadora Norte SA Q3 FY2021 earnings call

• Edenor guarantees electric distribution services to 3.2 million customers (~9 million people).
• SAIDI and SAIFI improved by 14% and 16% respectively compared to Q3 2020.
• Revenues from sales down 16% in real terms due to tariff renegotiation.
• Investment of ARS 10,347 million in first nine months of 2021.
• Commercial offices opened in September 2021.
• ENRE instructions regarding debt recovery and excess payment.
• Energy sales volume up 7% due to customer base growth and industrial/commercial recovery.
• Energy losses decreased by 18.8% in Q3 2021; 34,958 integrated energy meters installed.
• Sustainability and community initiatives like scholarship programs, COVID-19 support, etc.

Revenues from sales were 16% lower than the third quarter 2020 in real terms, amounting to ARS 29,236 million in the third quarter of 2021 compared to ARS 34,961 million in the third quarter of 2020. Investment reached ARS 10,347 million for the first nine months of 2021. The gross margin corresponding to the third quarter 2021 was ARS 12,197 million, a fall of 8% compared to the same period of the previous year. EBITDA had a positive increase of 3% in the third quarter of 2021 but decreased 22% during the first nine months of 2021. The volume of energy sales increased by 7% to 5,795 gigawatts in the third quarter of 2021 from 5,434 gigawatts in the same period of 2020. Revenue contribution details: Revenues from sales contributed based on the mentioned figures relative to the total, energy sales volume contribution based on the increase, etc.

• Risks related to general economic conditions and industry conditions affecting future results.
• Uncertainties from ongoing tariff renegotiation.
• Energy price fluctuations in an inflationary context.
• Recidivism in energy fraud.

Q: A: There are no questions