Edenor (EDN) 2025: ARS 239,236m profit, ARS 571,975m EBITDA and record quality

Rhea-AI Filing Summary

Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) reported EBITDA of ARS 571,975 million for 2025 and net profit of ARS 239,236 million. Results benefited from electricity rate adjustments, which improved both operating and financial performance while supporting continued investment.

Revenue and distribution margin for 2025 grew 11% and 9%, respectively, compared with the prior year. Excluding the Agreement on the Regularization of Payment Obligations with CAMMESA, EBITDA would have been ARS 353,861 million, showing strong underlying operations.

Edenor invested ARS 394,892 million in 2025 to improve and expand its electricity service, contributing to what it describes as the best service quality indicators in its history. Electricity sales rose 1% to 22,951 GWh, the customer base increased 1.4%, and energy losses were 15.7% versus 15.2% a year earlier.

Positive

• Strong profitability and cash generation: 2025 profit reached ARS 239,236 million and EBITDA ARS 571,975 million, with revenue up 11% and distribution margin up 9%, reflecting a material improvement in Edenor’s financial performance.
• High investment in network and quality: Capital investments of ARS 394,892 million in 2025 support service quality and expansion, aligning with management’s statement that quality indicators are at the best levels in the company’s history.

Negative

• None.

Insights

Latin American utilities analyst

Edenor shows strong 2025 profitability, high EBITDA and heavy reinvestment.

Edenor posted net profit of ARS 239,236 million and EBITDA of ARS 571,975 million for 2025, supported by electricity rate adjustments. Revenue and distribution margin rose 11% and 9%, indicating a meaningful recovery in the company’s economics.

Underlying operating strength is highlighted by EBITDA of ARS 353,861 million excluding the CAMMESA regularization agreement. Investments reached ARS 394,892 million, signaling a substantial commitment to service quality and network expansion, which ties to management’s claim of the best quality indicators in its history.

Operationally, electricity sales grew to 22,951 GWh and customers increased 1.4%, while energy losses edged to 15.7%. Future disclosures in annual and interim reports will help clarify how sustainable these margin gains and quality improvements are under evolving tariff and demand conditions.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2026

EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (EDENOR)

(DISTRIBUTION AND MARKETING COMPANY OF THE NORTH )

(Translation of Registrant's Name Into English)

Argentina

(Jurisdiction of incorporation or organization)

Av. del Libertador 6363,

12th Floor,

City of Buenos Aires (A1428ARG),

Tel: 54-11-4346-5000

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  X     Form 40-F 

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes    No  X  

(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .)

 

PRESS RELEASE

EDENOR REPORTS EBITDA OF ARS 571,975 MILLION

AND THE BEST QUALITY INDICATORS OF ITS HISTORY

MAIN FINANCIAL INDICATORS

*The figures for the twelve-month period of the previous year have been restated to reflect the changes in the purchasing power of the Argentine peso, in accordance with International Accounting Standard No. 29 and the provisions of General Resolution No. 777/2018 of the National Securities Commission

Buenos Aires, March 6, 2026, the Board of Directors of Empresa Distribuidora y Comercializadora Norte S.A. (“Edenor” or the “Company”) approved today its financial statements for the year ended December 31, 2025, which show a profit of ARS 239,236 million.

Taking into consideration the impact of the implemented electricity rate adjustments, the fiscal year’s results of operations reflect operating and financial improvements, which have allowed the Company to continue making the investments necessary for maintaining and improving the quality of the service it provides, with technology and innovations, while promoting a responsible and efficient use of energy. This is reflected in the levels achieved by our SAIDI and SAIFI indicators, as well as in the satisfaction level of our customers.

Fiscal year 2025, compared to the previous year, shows improvement in revenue and distribution margin, with increases of 11% and 9%, respectively.

EBITDA stood at ARS 571,975 million, driven by higher revenue recorded due to the restoring of the electricity rate. Excluding the results deriving from the Agreement on the Regularization of Payment Obligations entered into with CAMMESA on May 21, 2025, the EBITDA would have amounted to ARS 353,861 million.

The results of operations for the year ended December 31, 2025 amounted to a profit of ARS 239,236 million, also reflecting an optimization of operating cost.

As for Investments, in 2025, they amounted to ARS 394,892 million, which demonstrates Edenor’s commitment to improving the quality and expanding the scope of its service.

OPERATING INDICATORS

Electricity sales increased 1% to 22,951 GWh in 2025, compared to the 22,726 GWh sold in the previous year, whereas the number of customers increased 1.4%.

Energy losses, measured as a Rolling 12-Month Rate (TAM), were 15.7% in 2025, compared to 15.2% in the previous year.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Empresa Distribuidora y Comercializadora Norte S.A.
	By:	/s/ Germán Ranftl
		Germán Ranftl
		Chief Financial Officer

Date: March 9, 2026

FAQ

What profit did Edenor (EDN) report for fiscal year 2025?

Edenor reported a profit of ARS 239,236 million for the year ended December 31, 2025. This result reflects improved operating performance after electricity rate adjustments and cost optimization across the business during the period.

How much EBITDA did Edenor (EDN) generate in 2025?

Edenor generated EBITDA of ARS 571,975 million in 2025. Excluding results from the CAMMESA payment regularization agreement, EBITDA would have been ARS 353,861 million, highlighting strong underlying operations and tariff-driven revenue recovery.

How did Edenor’s revenue and distribution margin change in 2025?

In 2025, Edenor’s revenue increased 11% and its distribution margin rose 9% compared with the previous year. These gains stem mainly from electricity rate adjustments, which strengthened the company’s core business economics and supported higher profitability.

What level of investments did Edenor (EDN) make in 2025?

Edenor invested ARS 394,892 million in 2025 to improve and expand its electricity distribution network. Management links this spending to better service quality, technological upgrades, and broader coverage across its concession area for customers.

How did Edenor’s electricity sales and customer base evolve in 2025?

Electricity sales rose 1% to 22,951 GWh in 2025, while the number of customers increased 1.4%. This modest growth supports higher revenue and provides a slightly larger base over which Edenor recovers its regulated distribution income.

What were Edenor’s energy losses in 2025?

Edenor’s energy losses, measured as a rolling 12‑month rate, were 15.7% in 2025 versus 15.2% in the previous year. While still elevated, these levels are monitored as part of operational efficiency and loss-reduction initiatives in the network.