EDN posts 22% revenue gain, ARS 163,538m in investments and improved service metrics

Rhea-AI Filing Summary

Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) approved financial statements for the six-month period ended June 30, 2025, reporting a consolidated profit of ARS 131,004 million. The company recorded an EBITDA of ARS 289,385 million, which the company attributes to the restoration of electricity rates; excluding results from the Agreement on the Regularization of Payment Obligations EBITDA would be ARS 121,165 million. Revenue rose 22% year-over-year and the distribution margin increased 6%, supporting operational improvement and service investments. Edenor invested ARS 163,538 million in H1 2025 to maintain and expand service quality. Electricity sales were 11,615 GWh (+0.6%), customers increased 1.5%, and rolling annual energy losses stood at 15.5%. The financials were restated under IAS 29 to reflect changes in purchasing power.

Positive

• Revenue growth of 22% year-over-year, indicating improved top-line performance
• EBITDA of ARS 289,385 million, reflecting a strong headline operating result
• Investments of ARS 163,538 million, demonstrating material capex for service quality and expansion
• Customer base increased 1.5% and electricity sales rose 0.6%, showing modest demand growth

Negative

• EBITDA excluding the Agreement on the Regularization of Payment Obligations is ARS 121,165 million, showing a large portion of EBITDA is tied to that agreement
• Rolling annual energy losses at 15.5% indicate ongoing operational inefficiency
• Headline improvement driven by electricity rate restoration, which may reflect regulatory timing rather than pure demand-driven growth

Insights

Financial Analyst

TL;DR: Strong headline profit and large capex, but a sizable portion of EBITDA reflects regulatory/accounting effects.

Edenor shows marked operational recovery with revenue up 22% and distribution margin up 6%, driving an EBITDA of ARS 289,385m and a net profit of ARS 131,004m. The company also deployed substantial investments (ARS 163,538m), underlining capex momentum to improve SAIDI/SAIFI and customer satisfaction. However, the disclosure that EBITDA would be ARS 121,165m excluding the Agreement on the Regularization of Payment Obligations highlights that part of the EBITDA is driven by one-off or non-operational items tied to regulatory settlement. Investors should note the improvement in operating metrics but separate recurring operating performance from agreement-related effects.

Industry Specialist

TL;DR: Operational indicators show modest volume growth and continued energy losses; investments target service quality but structural issues persist.

Electricity sales grew only 0.6% to 11,615 GWh and customers rose 1.5%, suggesting limited demand growth. Rolling annual energy losses at 15.5% remain a notable operational inefficiency. The company emphasizes SAIDI/SAIFI improvements and invested ARS 163,538m in the period, signaling focus on reliability. The financial uplift tied to rate restoration is material, yet the large gap between reported EBITDA and EBITDA excluding the payment-regularization Agreement indicates mixed sustainability of the headline figures. Impact on medium-term fundamentals is therefore mixed.

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 August, 2025 

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 AN EBITDA OF $ 289,385 MILLION

MAIN FINANCIAL INDICATORS

*The figures for the six-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, August 8, 2025, the Board of Directors of Empresa Distribuidora y Comercializadora Norte S.A. (“Edenor” or the “Company”) approved today its financial statements for the period ended June 30, 2025, which show a profit of ARS 131,004 million.

Taking into consideration the impact of the implemented electricity rate adjustments, the results of operations for the period reflect an operating and financial improvement, which allowed the Company to continue making the investments necessary for maintaining and improving the quality of the service it provides, with technology and innovations, promoting responsible and efficient use of energy. This is reflected in the levels reached by our SAIDI and SAIFI indicators, as well as in the satisfaction levels of our customers.

In the first half of 2025, compared to the same period of the previous year, both revenue and the distribution margin reflect an improvement with increases of 22% and 6%, respectively.

The EBITDA resulted in a profit of ARS 289,385 million, as a consequence of the higher revenue recorded due to the restoring of the electricity rate. Without taking into consideration the results deriving from the Agreement on the Regularization of Payment Obligations, the EBITDA would result in a profit of ARS 121,165

The profit for the period as of June 30, 2025 amounted to ARS 131,004 million, also showing operating cost optimization.

As for Investments, in the first half of 2025, they amounted to ARS 163,538 million, which demonstrates Edenor’s commitment to improving service quality and expanding the service.

 

OPERATING INDICATORS

Electricity sales in the first half of 2025 increased 0.6% to 11,615 GWh, as compared to the 11,546 GWh sold in the same period of the previous year, whereas the number of customers increased by 1.5%.

Rolling Annual energy losses stood at 15.5% in the first half of 2025.

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: August 8, 2025

FAQ

What EBITDA did Edenor (EDN) report for the first half of 2025?

Edenor reported an EBITDA of ARS 289,385 million for the six-month period ended June 30, 2025; excluding the Agreement on the Regularization of Payment Obligations EBITDA would be ARS 121,165 million.

What was Edenor's net profit (EDN) for H1 2025?

The company reported a consolidated profit of ARS 131,004 million for the period.

How much did Edenor (EDN) invest in H1 2025?

Investments amounted to ARS 163,538 million in the first half of 2025 to maintain and expand service quality.

How did revenue and distribution margin change for EDN in H1 2025?

Revenue increased by 22% year-over-year and the distribution margin rose by 6% compared to the same period last year.

What operational metrics did Edenor (EDN) report for the period?

Electricity sales were 11,615 GWh (+0.6%), number of customers rose 1.5%, and rolling annual energy losses were 15.5%. The company reported improvements in SAIDI and SAIFI without providing numeric values.