Empresa Distribuidora y Comercializadora Norte SA SEC Filings

Edenor (EDN) reported nine‑month 2025 results highlighting stronger operations after electricity rate adjustments. The company posted a profit of ARS 179,461 million and an EBITDA of ARS 439,928 million, reflecting higher revenue from the restoring of the electricity rate. Figures for the prior-year period were restated for inflation under IAS 29.

Top line and profitability improved: revenue grew 14% and the distribution margin rose 8% versus the same period last year. Edenor continued investing to support service quality and expansion, with ARS 283,079 million in capital expenditures in the first nine months of 2025. Operationally, electricity sales edged up 0.1% to 17,572 GWh, the customer base increased 1.6%, and rolling annual energy losses were 15.8%.

Edenor (Empresa Distribuidora y Comercializadora Norte S.A.) filed a Form 6‑K reporting interim results for the period ended September 30, 2025. Profit attributable to the Company’s shareholders was ARS 179,461 million, with total comprehensive income also at ARS 179,461 million.

Total equity attributable to shareholders was ARS 2,017,570 million, including share capital at nominal value of ARS 906 million, an Adjustment to Capital of ARS 925,085 million, Additional paid‑in capital of ARS 12,598 million, Statutory reserve of ARS 79,332 million, Discretionary reserve of ARS 900,847 million, Other comprehensive loss of ARS 6,442 million, Acquisition cost of own shares of ARS 74,217 million, and Retained earnings of ARS 179,461 million.

The share capital structure lists Class A 462,292,111 shares (51.00%) held by Empresa de Energía del Cono Sur S.A. as main shareholder, Class B 442,566,330 shares (48.82%), and Class C 1,596,659 shares (0.18%) held by Banco de la Nación Argentina as trustee. The company states it has no convertible debt securities and no stock options.

Edenor (EDN) furnished a 6‑K with condensed interim results as of September 30, 2025. Nine‑month revenue was $2,118,337 million, with net income of $179,461 million (basic and diluted EPS $205.10). Operating result reached $99,092 million, aided by a $199,433 million gain from the Agreement on the Regularization of Obligations. Inflation accounting under IAS 29 yielded a monetary gain (RECPAM) of $209,782 million.

Total assets were $5,073,131 million and equity $2,017,570 million. Borrowings totaled $803,604 million, including August issuances of Class 8 corporate notes for USD 80,000,000 (8.5% fixed, due 2026) and Class 9 for $20,000 (TAMAR + 6%, due 2026). Cash from operations was $136,110 million; investing used $253,795 million; financing provided $161,139 million. Regulators approved the 2025–2030 rate review with periodic CPD adjustments, and multiple ENRE resolutions updated tariffs during 2025.

Edenor reported third‑quarter 2025 results. Revenue reached ARS 740.8 billion, up 1% in constant currency versus 3Q24, while energy purchases fell 5% to ARS 430.2 billion. Distribution margin increased 12% to ARS 310.7 billion.

EBITDA was ARS 133.3 billion in 3Q25, and ARS 440 billion for 9M25, driven by the completed 5‑year tariff review (+319.2% since February 2024) and monthly adjustments. The CAMMESA debt regularization contributed a positive ARS 199 billion in 9M25. Net profit was ARS 40.6 billion versus ARS 152.4 billion in 3Q24, reflecting lower RECPAM and financing effects.

Operating expenses declined 4% to ARS 257.0 billion on workforce and efficiency measures. Capex totaled ARS 123.6 billion in 3Q25 and ARS 283.1 billion year‑to‑date, supporting improved service quality (SAIDI 7.1 hours; SAIFI 2.8). Sales volumes were 5,958 GWh (‑0.79%), with the client base at 3.38 million (+2%). S&P upgraded the national scale rating to raA+, and the company completed a USD 95 million debt issuance at 8.5%.

Edenor (EDN) announced a credit rating upgrade from S&P. The agency raised the company’s national scale rating and its Global Notes Program rating from raBBB- to raA+, and maintained a stable outlook.

This upgrade signals S&P’s improved view of Edenor’s credit quality within the Argentine national scale. A stable outlook indicates S&P expects Edenor’s profile to remain steady under current conditions.

Edenor (EDN) disclosures show that Helikon Investments Limited and Federico Riggio report beneficial ownership of 1,788,285 American Depositary Shares (ADSs), representing 8.09% of the class based on an aggregate of 22,110,519 shares outstanding. Each ADS represents 20 Class B Shares.

The filing states the reporting persons have 0 sole voting and 0 sole dispositive power, and 1,788,285 shared voting and 1,788,285 shared dispositive power. Helikon UK is described as an FCA-authorized investment manager and the holders certify the securities were acquired and are held in the ordinary course of business and not for the purpose of changing control.

Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) reported condensed interim financial statements for the period ended June 30, 2025, showing a profit attributable to shareholders of ARS 131,004 million. Other comprehensive income was zero, so total comprehensive income equals net profit at ARS 131,004 million.

The company reported total equity of ARS 1,865,591 million. Key equity components include an Adjustment to Capital of ARS 872,932 million, a Discretionary reserve of ARS 850,110 million, Additional paid-in capital of ARS 11,888 million, and an acquisition cost of own shares of ARS (70,036) million. Share capital totals show three classes: Class A (51.00%), Class B (48.82%) and Class C (0.18%), with Class B listed on the NYSE and BYMA.

Empresa Distribuidora y Comercializadora Norte S.A. reported that its Board of Directors unanimously approved the condensed interim financial statements and related documentation for the three- and six-month periods ended June 30, 2025. The Board acknowledged the accompanying reports and authorized the Company Chairman to sign the financial statements. Five directors explicitly reserved their opinion regarding any statements in the approved documentation that refer to measures taken by the Federal Government and its public policies. The report was signed by the Company's Chief Financial Officer.