EDN · Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Edenor reported strong Q1 2026 results, with EBITDA reaching ARS 190,579 million and net profit of ARS 117,854 million. The improvement was driven by the restoration of electricity rates and the ongoing application of the Five-year Electricity Rate Review, which has been automatically applied monthly since its approval in 2025. Additionally, the recognition of the Framework Agreement by the Federal Government contributed to higher revenue. The distribution margin improved 13% compared to the same period last year, reflecting better cost management and rate adjustments. Operating costs were optimized, further supporting profitability. Investments in the quarter totaled ARS 69,292 million, underscoring Edenor's commitment to enhancing service quality and expanding its network. On the operational front, electricity sales reached 5,852 GWh, and the customer base grew 1.4% to 3.4 million. Energy losses, measured as a rolling 12-month rate, improved to 15.32% as of March 2026, down from year-end 2025 levels, with cumulative losses for Q1 2026 at 14.0%. These results indicate a positive trajectory for Edenor, supported by regulatory tailwinds and operational efficiencies.