In This Article:
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Adjusted EBITDA: Increased 8.6% from BRL1.710 billion in Q2 '23 to BRL1.96 billion in Q2 '24.
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Net Income: Increased 18.8% from BRL733 million in Q2 '23 to BRL871 million in Q2 '24.
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Net Operating Revenue: Increased 7.4% from BRL2.6 billion to BRL2.8 billion.
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Interim Dividends: Approved distribution of BRL932.8 million.
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Return on Equity (ROE): Decreased from above 30% to 28%.
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Return on Invested Capital (ROIC): Decreased from 20.3% to 18.3%.
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CapEx: Planned BRL9.8 billion for the year, with BRL5.5 billion already invested.
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Debt Profile: Debt indexed to 80% IPCA, 14% CDI, and 5% TJLP with a nominal cost of 9.4%.
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Dividend Payout: 55% payout approved, resulting in a 2.7% yield.
Release Date: August 08, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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ENGIE Brasil Energia SA (EGIEY) successfully authorized 15 units for commercial operations at the Assurua Wind Complex, with an additional 36 units in test mode.
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The company fully energized the Gaviao Real Transmission System, enhancing synergy with its portfolio.
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ENGIE Brasil Energia SA (EGIEY) won the Energy category in Exame's Best of ESG ranking and received the Great Place to Work Brazil certification.
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The company approved the distribution of interim dividends amounting to BRL932.8 million.
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Adjusted EBITDA increased by 8.6% from BRL1.710 billion in Q2 '23 to BRL1.96 billion in Q2 '24, driven by indemnity from Santo Agostinho and improved hydro performance.
Negative Points
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The company faced financial impacts due to incidents at the Santo Agostinho project, resulting in a BRL262 million indemnity.
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Net income was affected by increased income tax payments, with BRL46 million more paid compared to the previous year.
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There was a 2.6% negative variation in the last six months compared to the previous year.
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The company's ROIC decreased from 20.3% to 18.3%, attributed to income retention.
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ENGIE Brasil Energia SA (EGIEY) experienced a reduction in sales during Q2, as part of a strategic decision due to market volatility.
Q & A Highlights
Q: Can you comment on the expectation to bring forward the date for Asa Branca and any impact from the permitting authorities' halt? Also, what is the company's interest in the next transmission auction? A: We are monitoring the permitting agencies' strike but remain hopeful about securing our license without major delays. The project involves multiple phases and permits from different states, which could impact timelines. Regarding the next transmission auction, ENGIE is very interested and sees energy transmission as a key investment pillar in Brazil.