(InfoMoney) Neoenergia (NEOE3) reported an increase in net profit for the second quarter of 2024, recording R$815 million, a growth of 12% compared to the same period of the previous year. The company attributes this result to cost control and optimization of operations.
The company’s adjusted Ebitda (Earnings before interest, taxes, depreciation and amortization) also showed an increase, reaching R$2.97 billion in 2Q24, an increase of 12% compared to 2Q23. The EBITDA margin also increased, reflecting the company’s efficient management.
Neoenergia reported that the increase in indicators is due to the control of operating expenses and the increase in the volume of energy distributed, which grew 8.1% compared to the previous year, driven by consumption in the residential and rural classes, due to warmer temperatures. and the growth of the customer base.
In terms of revenue, Neoenergia saw an increase to R$10.9 billion in 2Q24, an increase of 4% compared to 2Q23.
This increase was also influenced by greater energy distribution and the expansion of capacity in wind and solar generation. The company’s total installed renewable generation capacity increased, with emphasis on the Oitis Complex and the Luzia Solar Complex. Wind and solar power generation was particularly highlighted as having grown due to improved wind conditions and capacity expansions.
The ratio between net debt and adjusted EBITDA was 3.27 times in 2Q24, compared to 3.17 times at the end of 2023. This indicator reflects the company’s investment strategy in infrastructure.
Neoenergia’s management commented on the current economic scenario and stated that it is confident with the cost management strategies and investments in efficiency and expansion. Strategic initiatives include optimizing operations, continued investments in technology and infrastructure, and a focus on sustainability and energy efficiency.
Neoenergia (NEOE3) has net profit of R$815 million in the second quarter
Neoenergia (NEOE3) reported an increase in net profit for the second quarter of 2024, recording R$815 million, a growth of 12% compared to the same period of the previous year. The company attributes this result to cost control and optimization of operations.
The company’s adjusted Ebitda (Earnings before interest, taxes, depreciation and amortization) also showed an increase, reaching R$2.97 billion in 2Q24, an increase of 12% compared to 2Q23. The EBITDA margin also increased, reflecting the company’s efficient management.
Neoenergia reported that the increase in indicators is due to the control of operating expenses and the increase in the volume of energy distributed, which grew 8.1% compared to the previous year, driven by consumption in the residential and rural classes, due to warmer temperatures. and the growth of the customer base.
In terms of revenue, Neoenergia saw an increase to R$10.9 billion in 2Q24, an increase of 4% compared to 2Q23.
This increase was also influenced by greater energy distribution and the expansion of capacity in wind and solar generation. The company’s total installed renewable generation capacity increased, with emphasis on the Oitis Complex and the Luzia Solar Complex. Wind and solar power generation was particularly highlighted as having grown due to improved wind conditions and capacity expansions.
The ratio between net debt and adjusted EBITDA was 3.27 times in 2Q24, compared to 3.17 times at the end of 2023. This indicator reflects the company’s investment strategy in infrastructure.
Neoenergia’s management commented on the current economic scenario and stated that it is confident with the cost management strategies and investments in efficiency and expansion. Strategic initiatives include optimizing operations, continued investments in technology and infrastructure, and a focus on sustainability and energy efficiency.
Neoenergia (NEOE3) reported an increase in net profit for the second quarter of 2024, recording R$815 million, a growth of 12% compared to the same period of the previous year. The company attributes this result to cost control and optimization of operations.
The company’s adjusted Ebitda (Earnings before interest, taxes, depreciation and amortization) also showed an increase, reaching R$2.97 billion in 2Q24, an increase of 12% compared to 2Q23. The EBITDA margin also increased, reflecting the company’s efficient management.
Neoenergia reported that the increase in indicators is due to the control of operating expenses and the increase in the volume of energy distributed, which grew 8.1% compared to the previous year, driven by consumption in the residential and rural classes, due to warmer temperatures. and the growth of the customer base.
In terms of revenue, Neoenergia saw an increase to R$10.9 billion in 2Q24, an increase of 4% compared to 2Q23.
This increase was also influenced by greater energy distribution and the expansion of capacity in wind and solar generation. The company’s total installed renewable generation capacity increased, with emphasis on the Oitis Complex and the Luzia Solar Complex. Wind and solar power generation was particularly highlighted as having grown due to improved wind conditions and capacity expansions.
The ratio between net debt and adjusted EBITDA was 3.27 times in 2Q24, compared to 3.17 times at the end of 2023. This indicator reflects the company’s investment strategy in infrastructure.
Neoenergia’s management commented on the current economic scenario and stated that it is confident with the cost management strategies and investments in efficiency and expansion. Strategic initiatives include optimizing operations, continued investments in technology and infrastructure, and a focus on sustainability and energy efficiency.
Brazil Energy Insight 
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