[6-K] Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Current Report (Foreign Issuer)
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.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) ha approvato i bilanci consolidati relativi al semestre chiuso il 30 giugno 2025, registrando un utile consolidato di ARS 131,004 million. La società ha riportato un EBITDA di ARS 289,385 million, che attribuisce al ripristino delle tariffe elettriche; escludendo i risultati dell'Accordo per la Regolarizzazione degli Obblighi di Pagamento, l'EBITDA sarebbe pari a ARS 121,165 million. I ricavi sono aumentati del 22% anno su anno e il margine di distribuzione è cresciuto del 6%, sostenendo il miglioramento operativo e gli investimenti nel servizio. Edenor ha investito ARS 163,538 million nel primo semestre 2025 per mantenere ed estendere la qualità del servizio. Le vendite di energia sono state di 11,615 GWh (+0,6%), i clienti sono aumentati del 1,5% e le perdite energetiche su base annua rolling si sono attestate al 15,5%. I bilanci sono stati riformulati secondo lo IAS 29 per riflettere le variazioni del potere d'acquisto.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) aprobó los estados financieros del semestre cerrado el 30 de junio de 2025, registrando una utilidad consolidada de ARS 131,004 million. La compañía reportó un EBITDA de ARS 289,385 million, que atribuye a la restitución de las tarifas eléctricas; excluyendo los resultados del Acuerdo de Regularización de Obligaciones de Pago, el EBITDA habría sido de ARS 121,165 million. Los ingresos aumentaron un 22% interanual y el margen de distribución creció un 6%, lo que respaldó la mejora operativa y las inversiones en el servicio. Edenor invirtió ARS 163,538 million en el primer semestre de 2025 para mantener y ampliar la calidad del servicio. Las ventas de electricidad fueron de 11,615 GWh (+0,6%), la cantidad de clientes creció un 1,5% y las pérdidas energéticas anuales acumuladas se ubicaron en 15,5%. Los estados financieros fueron reexpresados según la NIC 29 para reflejar los cambios en el poder adquisitivo.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor)는 2025년 6월 30일로 종료된 6개월 기간의 재무제표를 승인했으며, 연결 당기순이익은 ARS 131,004 million으로 집계되었습니다. 회사는 EBITDA 289,385 million ARS를 기록했으며 이를 전기요금 정상화에 기인한 것으로 보고했습니다. 지불의무 정산 합의의 결과를 제외하면 EBITDA는 ARS 121,165 million이었습니다. 매출은 전년 대비 22% 증가했고 배전 마진은 6% 상승해 운영 개선과 서비스 투자를 뒷받침했습니다. Edenor는 2025년 상반기에 서비스 품질 유지 및 확장을 위해 ARS 163,538 million을 투자했습니다. 전력 판매량은 11,615 GWh(+0.6%), 고객 수는 1.5% 증가했으며 연간 누적 에너지 손실률은 15.5%였습니다. 재무제표는 구매력 변동을 반영하기 위해 IAS 29에 따라 재작성되었습니다.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) a approuvé les états financiers consolidés pour la période de six mois close le 30 juin 2025, affichant un résultat consolidé de ARS 131,004 million. La société a déclaré un EBITDA de ARS 289,385 million, qu'elle attribue à la rétablissement des tarifs d'électricité ; en excluant les effets de l'Accord de régularisation des obligations de paiement, l'EBITDA serait de ARS 121,165 million. Les revenus ont augmenté de 22% en glissement annuel et la marge de distribution a progressé de 6%, soutenant l'amélioration opérationnelle et les investissements dans le service. Edenor a investi ARS 163,538 million au premier semestre 2025 pour maintenir et renforcer la qualité du service. Les ventes d'électricité se sont élevées à 11,615 GWh (+0,6%), le nombre de clients a augmenté de 1,5% et les pertes d'énergie sur douze mois glissants se sont établies à 15,5%. Les états financiers ont été retraités selon la norme IAS 29 pour refléter les variations du pouvoir d'achat.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) hat die Konzernabschlüsse für den sechsmonatigen Zeitraum zum 30. Juni 2025 genehmigt und einen konsolidierten Gewinn von ARS 131,004 million ausgewiesen. Das Unternehmen meldete ein EBITDA von ARS 289,385 million, das es auf die Wiederherstellung der Stromtarife zurückführt; ohne die Effekte des Abkommens zur Regularisierung von Zahlungsansprüchen läge das EBITDA bei ARS 121,165 million. Die Umsatzerlöse stiegen im Jahresvergleich um 22% und die Vertriebsrendite erhöhte sich um 6%, was die operative Verbesserung und Investitionen in den Service unterstützte. Edenor investierte im ersten Halbjahr 2025 ARS 163,538 million, um die Servicequalität zu erhalten und auszubauen. Der Stromabsatz betrug 11,615 GWh (+0,6%), die Kundenzahl stieg um 1,5% und die rollierenden Jahresverluste an Energie lagen bei 15,5%. Die Abschlüsse wurden gemäß IAS 29 neu aufbereitet, um Änderungen der Kaufkraft widerzuspiegeln.
- 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
- 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
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.
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.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) ha approvato i bilanci consolidati relativi al semestre chiuso il 30 giugno 2025, registrando un utile consolidato di ARS 131,004 million. La società ha riportato un EBITDA di ARS 289,385 million, che attribuisce al ripristino delle tariffe elettriche; escludendo i risultati dell'Accordo per la Regolarizzazione degli Obblighi di Pagamento, l'EBITDA sarebbe pari a ARS 121,165 million. I ricavi sono aumentati del 22% anno su anno e il margine di distribuzione è cresciuto del 6%, sostenendo il miglioramento operativo e gli investimenti nel servizio. Edenor ha investito ARS 163,538 million nel primo semestre 2025 per mantenere ed estendere la qualità del servizio. Le vendite di energia sono state di 11,615 GWh (+0,6%), i clienti sono aumentati del 1,5% e le perdite energetiche su base annua rolling si sono attestate al 15,5%. I bilanci sono stati riformulati secondo lo IAS 29 per riflettere le variazioni del potere d'acquisto.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) aprobó los estados financieros del semestre cerrado el 30 de junio de 2025, registrando una utilidad consolidada de ARS 131,004 million. La compañía reportó un EBITDA de ARS 289,385 million, que atribuye a la restitución de las tarifas eléctricas; excluyendo los resultados del Acuerdo de Regularización de Obligaciones de Pago, el EBITDA habría sido de ARS 121,165 million. Los ingresos aumentaron un 22% interanual y el margen de distribución creció un 6%, lo que respaldó la mejora operativa y las inversiones en el servicio. Edenor invirtió ARS 163,538 million en el primer semestre de 2025 para mantener y ampliar la calidad del servicio. Las ventas de electricidad fueron de 11,615 GWh (+0,6%), la cantidad de clientes creció un 1,5% y las pérdidas energéticas anuales acumuladas se ubicaron en 15,5%. Los estados financieros fueron reexpresados según la NIC 29 para reflejar los cambios en el poder adquisitivo.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor)는 2025년 6월 30일로 종료된 6개월 기간의 재무제표를 승인했으며, 연결 당기순이익은 ARS 131,004 million으로 집계되었습니다. 회사는 EBITDA 289,385 million ARS를 기록했으며 이를 전기요금 정상화에 기인한 것으로 보고했습니다. 지불의무 정산 합의의 결과를 제외하면 EBITDA는 ARS 121,165 million이었습니다. 매출은 전년 대비 22% 증가했고 배전 마진은 6% 상승해 운영 개선과 서비스 투자를 뒷받침했습니다. Edenor는 2025년 상반기에 서비스 품질 유지 및 확장을 위해 ARS 163,538 million을 투자했습니다. 전력 판매량은 11,615 GWh(+0.6%), 고객 수는 1.5% 증가했으며 연간 누적 에너지 손실률은 15.5%였습니다. 재무제표는 구매력 변동을 반영하기 위해 IAS 29에 따라 재작성되었습니다.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) a approuvé les états financiers consolidés pour la période de six mois close le 30 juin 2025, affichant un résultat consolidé de ARS 131,004 million. La société a déclaré un EBITDA de ARS 289,385 million, qu'elle attribue à la rétablissement des tarifs d'électricité ; en excluant les effets de l'Accord de régularisation des obligations de paiement, l'EBITDA serait de ARS 121,165 million. Les revenus ont augmenté de 22% en glissement annuel et la marge de distribution a progressé de 6%, soutenant l'amélioration opérationnelle et les investissements dans le service. Edenor a investi ARS 163,538 million au premier semestre 2025 pour maintenir et renforcer la qualité du service. Les ventes d'électricité se sont élevées à 11,615 GWh (+0,6%), le nombre de clients a augmenté de 1,5% et les pertes d'énergie sur douze mois glissants se sont établies à 15,5%. Les états financiers ont été retraités selon la norme IAS 29 pour refléter les variations du pouvoir d'achat.
Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) hat die Konzernabschlüsse für den sechsmonatigen Zeitraum zum 30. Juni 2025 genehmigt und einen konsolidierten Gewinn von ARS 131,004 million ausgewiesen. Das Unternehmen meldete ein EBITDA von ARS 289,385 million, das es auf die Wiederherstellung der Stromtarife zurückführt; ohne die Effekte des Abkommens zur Regularisierung von Zahlungsansprüchen läge das EBITDA bei ARS 121,165 million. Die Umsatzerlöse stiegen im Jahresvergleich um 22% und die Vertriebsrendite erhöhte sich um 6%, was die operative Verbesserung und Investitionen in den Service unterstützte. Edenor investierte im ersten Halbjahr 2025 ARS 163,538 million, um die Servicequalität zu erhalten und auszubauen. Der Stromabsatz betrug 11,615 GWh (+0,6%), die Kundenzahl stieg um 1,5% und die rollierenden Jahresverluste an Energie lagen bei 15,5%. Die Abschlüsse wurden gemäß IAS 29 neu aufbereitet, um Änderungen der Kaufkraft widerzuspiegeln.
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.
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Empresa Distribuidora y Comercializadora Norte S.A. | |
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By: |
/s/ Germán Ranftl |
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Germán Ranftl | |
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Chief Financial Officer | |
Date: August 8, 2025
FAQ
What EBITDA did Edenor (EDN) report for the first half of 2025?
What was Edenor's net profit (EDN) for H1 2025?
How much did Edenor (EDN) invest in H1 2025?
How did revenue and distribution margin change for EDN in H1 2025?
What operational metrics did Edenor (EDN) report for the period?
