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NEOENERGIA S.A.

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Investments in the company's transmission and distribution networks grew 19% in the first nine ...

10/28/2021 | 12:43pm EST


Investments in the company's transmission and distribution networks grew 19% in the first nine months of the year compared to 2020

Dourados Project, delivered in the third quarter of 2021

Neoenergia allocated R$ 4.3 billion to transmission and distribution networks between January and September 2021, with almost R$ 1.6 billion in the third quarter alone. These investments contribute to the excellent services provided to the more than 15.6 million direct customers of the company's distributors, in addition to sustaining the reliability of the national electricity sector. Investments in the segment had a growth of 19%, compared to the first nine months of last year, demonstrating the company's commitment to maintainits leading role in the sector.

Of the total invested in the nine months, R$ 1.5 billion was for transmission, R$ 404 million above the same period in 2020. The company concluded this quarter the lots sold in the auction held by the National Electric Energy Agency (ANEEL) in April 2017, with the delivery of the last stretch of the Dourados line (MS) in August. Divided into five sections, the project had its first stage inaugurated in July 2020, 25 months before the deadline set by the regulatory body. The other three lots purchased at the event - Atibaia (SP), Sobral (CE) and Biguaçu(SC) - were delivered throughout 2019 and 2020, also before the deadline.

In all, the company has seven transmission assets. In July, Neoenergia began the commercial operation of the first section of lot 6 of the December 2017 auction, Santa Luzia. The project allowed the anticipation of the Chafariz Wind Complex, whose point of connection to the National Interconnected System (SIN) is the Santa Luzia II substation, which is part of the project. Today, there are already 184 MW of installed capacity operating, providing clean energy.

Distribution

The group has five distributors - Neoenergia Coelba (BA), Neoenergia Pernambuco (PE), Neoenergia Cosern (RN), Neoenergia Elektro (SP and MS) and Neoenergia Brasília (DF). From January to September 2021, the company's Capex was R$ 2.8 billion, of which R$ 1 billion in the third quarter.

In the year, R$ 1.9 billion was allocated to the expansion of networks. The amount is invested in services such as new connections and construction of new substations and distribution networks. The new assets reinforce the electricity infrastructure and energy availability of distributors, and can generate an economic benefit for the concession areas with the attraction of new ventures, in addition to the generation of employment and income. ​​[Link]

Disclaimer

Neoenergia SA published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 16:42:03 UTC.


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Financials
Sales 2021 37 105 M 6 656 M 6 656 M
Net income 2021 3 484 M 625 M 625 M
Net Debt 2021 30 274 M 5 431 M 5 431 M
P/E ratio 2021 5,20x
Yield 2021 5,18%
Capitalization 18 595 M 3 364 M 3 336 M
EV / Sales 2021 1,32x
EV / Sales 2022 1,38x
Nbr of Employees 14 617
Free-Float 49,0%
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Technical analysis trends NEOENERGIA S.A.
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TrendsBearishBearishBearish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 10
Last Close Price 15,32 BRL
Average target price 26,12 BRL
Spread / Average Target 70,5%
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Managers and Directors
Mario JosÚ Ruiz-Tagle Larrain Chief Executive Officer & Director
Leonardo Pimenta Gadelha Executive Director-Finance & Investor Relations
JosÚ Ignacio Sßnchez Galßn Chairman
Juan Manuel Eguiagaray Ucelay Independent Director
Cristiano Frederico Ruschmann Independent Director
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