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Empresa Distribuidora y Comercializadora Norte Sociedad Anónima engages in the distribution and sale of electricity in Argentina. The company operates an electrical power distribution system that consists of 85 transformation substations and interconnections with high voltage customers with 20,295 MVA of installed power and 1,594 km of high voltage networks; and MV/LV and MV/MV distribution system comprises 19,845 transformers with 10,137 MVA of installed power, 12,732 km of medium voltage networks, and 28,590 km of low voltage networks. It serves approximately 3.39 million customers. The company was formerly known as Empresa Distribuidora Norte Sociedad Anónima and changed its name to Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in January 1997. The company was founded in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur S.A.
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Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) operates as a regulated electricity distributor serving the northern Greater Buenos Aires region, supplying residential, commercial and industrial customers. Long-term growth drivers include regulated tariff revisions, capital expenditures to modernize the network and expand connections, and demand growth tied to Argentina's economic cycle, which may benefit investors seeking utility-like cash flows and a dominant local footprint. Material risks include regulatory and political intervention on tariffs, significant currency and sovereign exposure that can erode real returns, collection and receivable pressures, and execution risk on infrastructure upgrades.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 343982.90M | 193278.00M | 182180.00M | -2634.00M | -5708.00M |
| Net income | 278722.49M | 272128.00M | 48371.00M | -17468.00M | -21344.00M |
| Selling general administrative | 360696.00M | 153739.00M | 71942.00M | 16285.00M | 6167.00M |
| Selling and marketing expenses | - | 172234.00M | 41916.00M | 20485.00M | 11495.00M |
| Gross profit | 741166.76M | 394596.00M | 27726.00M | 7690.00M | 14588.00M |
| Reconciled depreciation | 210722.00M | 165179.00M | 27742.00M | 19226.00M | 9559.00M |
| Ebit | -6898.27M | 45200.00M | 501054.00M | -33623.00M | -5452.00M |
| Ebitda | 238603.91M | 199759.00M | 586636.00M | -19767.00M | 4107.00M |
| Depreciation and amortization | 245502.18M | 154559.00M | 85582.00M | 13856.00M | 9559.00M |
| Operating income | -6898.27M | 42073.00M | -119786.00M | -33623.00M | -5452.00M |
| Other operating expenses | 3498038.54M | 2001054.00M | 820884.00M | 239458.00M | 117778.00M |
| Interest expense | 182249.15M | 333996.00M | 318874.00M | 87628.00M | 26924.00M |
| Tax provision | 52096.00M | -78850.00M | 74086.00M | 14834.00M | 15636.00M |
| Interest income | 1771.00M | 1224.00M | 55.00M | 65.00M | 65.00M |
| Net interest income | -404778.00M | -502763.00M | -141743.00M | -92992.00M | -25155.00M |
| Income tax expense | 65260.41M | -78850.00M | 133809.00M | 14834.00M | 15636.00M |
| Total revenue | 3491140.26M | 2043127.00M | 701098.00M | 205835.00M | 113500.00M |
| Total operating expenses | 748065.03M | 352523.00M | 147512.00M | 41313.00M | 18866.00M |
| Cost of revenue | 2749973.50M | 1648531.00M | 673372.00M | 198145.00M | 98912.00M |
| Total other income expense net | 350881.18M | 151205.00M | 301966.00M | 30989.00M | -256.00M |
| Net income from continuing ops | 239236.00M | 272128.00M | 78592.00M | -17468.00M | -21344.00M |
| Net income applicable to common shares | - | 272128.00M | 48371.00M | -17468.00M | -21344.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 5795338.90M | 3979577.00M | 3285627.00M | 480131.00M | 237823.00M |
| Other current assets | 5149.04M | 56657.00M | 2328.00M | 996.00M | 390.00M |
| Total liab | 3573279.15M | 2472512.00M | 2053023.00M | 354465.00M | 164129.00M |
| Total stockholder equity | 2222059.75M | 1507065.00M | 1232604.00M | 125666.00M | 73694.00M |
| Other current liab | 465256.81M | 322731.00M | 295807.00M | 41629.00M | 20232.00M |
| Common stock | 874.67M | 875.00M | 875.00M | 109596.00M | 56257.00M |
| Capital stock | 977821.00M | 743329.00M | 341328.00M | 109596.00M | 56257.00M |
| Retained earnings | 239144.92M | 803654.00M | 531526.00M | -59045.00M | -21344.00M |
| Other liab | - | - | - | 141138.00M | 66534.00M |
| Other assets | - | - | -43046.43M | 3.00M | 7.00M |
| Cash | 207101.13M | 23918.00M | 19877.00M | 1630.00M | 3172.00M |
| Cash and equivalents | - | 252593.00M | 89770.00M | 15748.00M | 11224.00M |
| Total current liabilities | 1457316.99M | 1089782.00M | 774640.00M | 198751.00M | 97516.00M |
| Current deferred revenue | 5876.76M | 3306.00M | 1325.00M | 672.00M | 557.00M |
| Net debt | 965910.14M | 452444.00M | 193357.00M | 13588.00M | 7437.00M |
| Short term debt | 464447.12M | 116407.00M | 112487.00M | 642.00M | 10530.00M |
| Short long term debt | 479740.00M | 112530.00M | 50663.00M | 184.00M | 10262.00M |
| Short long term debt total | 1173011.27M | 476362.00M | 213234.00M | 15218.00M | 10609.00M |
| Other stockholder equity | 910138.38M | -50527.00M | -50587.00M | -5112.00M | -3841.00M |
| Property plant equipment | - | 1145102.00M | 417013.00M | 113835.00M | 195799.00M |
| Total current assets | 1559835.95M | 966264.00M | 505678.00M | 83460.00M | 42003.00M |
| Long term investments | 53888.00M | 121.00M | 57.00M | 21.00M | 14.00M |
| Net tangible assets | - | - | - | 125666.00M | 73694.00M |
| Short term investments | 588974.69M | 373550.00M | 179933.00M | 28701.00M | 15694.00M |
| Net receivables | 518517.53M | 362367.00M | 212608.00M | 45695.00M | 19306.00M |
| Long term debt | 704553.00M | 354945.00M | 44345.00M | 14537.00M | 0.00M |
| Inventory | 240093.56M | 149772.00M | 39816.00M | 6438.00M | 3441.00M |
| Accounts payable | 521736.30M | 613053.00M | 425270.00M | 155808.00M | 66197.00M |
| Accumulated other comprehensive income | 1071901.78M | 753063.00M | 750790.00M | 80227.00M | 42622.00M |
| Treasury stock | - | - | - | - | -4576.00M |
| Non currrent assets other | 0.00M | 124.00M | 3.00M | -827.00M | 7.00M |
| Non current assets total | 4235502.95M | 3013313.00M | 2779949.00M | 396671.00M | 195820.00M |
| Capital lease obligations | 8437.00M | 8887.00M | 2912.00M | 497.00M | 347.00M |
| Long term debt total | - | 359955.00M | 46506.00M | 14537.00M | 0.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -59937.00M | -567245.00M | -33925.00M | -37360.00M | -10824.00M |
| Change to liabilities | - | - | - | 63895.00M | 18507.00M |
| Total cashflows from investing activities | -537728.80M | -567245.00M | -79061.00M | -37360.00M | -25544.00M |
| Net borrowings | 541807.00M | 314716.00M | 21626.00M | -3301.00M | -543.00M |
| Total cash from financing activities | 614181.87M | 265176.00M | 7338.00M | -4762.00M | -1438.00M |
| Change to operating activities | - | - | - | -8907.00M | -116.00M |
| Net income | 278722.49M | 272128.00M | 132811.14M | -17468.00M | -21344.00M |
| Change in cash | 173439.62M | -51428.00M | 4052.00M | -4549.00M | -3410.00M |
| Begin period cash flow | 33661.51M | 19877.00M | 5076.00M | 6179.00M | 6582.00M |
| End period cash flow | 207101.13M | -31551.00M | 9128.00M | 1630.00M | 3172.00M |
| Total cash from operating activities | 116440.00M | 245917.00M | 71472.00M | 35426.00M | 21348.00M |
| Depreciation | 245502.18M | 165179.00M | 85582.00M | 19226.00M | 9559.00M |
| Other cashflows from investing activities | -0.00M | -207162.00M | 40720.00M | -5634.00M | -9298.00M |
| Dividends paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change to inventory | -36771.38M | -46414.00M | -30293.05M | -2319.00M | -847.00M |
| Change to account receivables | -79285.31M | -298498.00M | -92353.59M | -6929.00M | -2688.00M |
| Sale purchase of stock | - | - | - | - | 0.00M |
| Other cashflows from financing activities | -18503.36M | -49540.00M | -2593.00M | 2959.00M | -895.00M |
| Change to netincome | - | - | - | -11605.00M | 20243.00M |
| Capital expenditures | 429283.38M | 359966.00M | 119781.00M | 31726.00M | 14725.00M |
| Change in working capital | -190885.69M | 40993.00M | 100690.00M | 45273.00M | 12890.00M |
| Stock based compensation | - | 60.00M | 65.00M | - | 2367.00M |
| Other non cash items | -353097.11M | -153593.00M | -381485.14M | -26439.00M | 2240.00M |
| Free cash flow | -312843.38M | -114049.00M | -48309.00M | 3700.00M | 6623.00M |
Sector: Utilities Industry: Utilities - Regulated Electric
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| EDN Empresa Distribuidora y Comercializadora Norte SA ADR |
-0.07 0.49% |
14.08 | 6.84 | 8.75 | 0.00 | 0.76 | 0.74 | 2.75 |
| NEE Nextera Energy Inc |
-1.30 1.47% |
86.95 | 18.34 | 18.80 | 5.89 | 2.98 | 9.67 | 15.69 |
| DUK Duke Energy Corporation |
-2.30 1.77% |
127.78 | 20.24 | 18.76 | 3.08 | 1.92 | 5.88 | 11.11 |
| NGGTF National Grid plc |
- -% |
17.14 | 16.58 | 12.18 | 4.29 | 1.39 | 5.62 | 12.31 |
| SO Southern Company |
-1.00 1.07% |
92.34 | 25.35 | 17.76 | 2.89 | 2.48 | 5.27 | 13.35 |
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima engages in the distribution and sale of electricity in Argentina. The company operates an electrical power distribution system that consists of 85 transformation substations and interconnections with high voltage customers with 20,295 MVA of installed power and 1,594 km of high voltage networks; and MV/LV and MV/MV distribution system comprises 19,845 transformers with 10,137 MVA of installed power, 12,732 km of medium voltage networks, and 28,590 km of low voltage networks. It serves approximately 3.39 million customers. The company was formerly known as Empresa Distribuidora Norte Sociedad Anónima and changed its name to Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in January 1997. The company was founded in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur S.A.
Av. Del Libertador 6363, Buenos Aires, Argentina, C1428ARG
54 11 4346 5511
4576
| Name | Title | Year Born |
|---|---|---|
| Mr. Neil Arthur Bleasdale | Chairman, Pres & CEO | 1956 |
| Mr. German Ranftl | Chief Financial Officer | 1966 |
| Mr. Eduardo Abel Maggi | Director of Operations | 1955 |
| Mr. Daniel Eduardo Flaks | Technical Director | 1964 |
| Mr. Carlos Dionisio Ariosa | Legal Affairs Mang. | 1966 |
| Ms. Silvana Esther Coria | Regular Head of Market Relations | NA |
| Mr. Ariel Schapira | Digital Transformation Director | 1962 |
| Mr. Gerardo Ruben Tabakman | Customer Services Director | 1975 |
| Mr. Daniel Marx | Chairman & CEO | 1963 |
| Mr. German Ranftl Moreno | CFO & Finance and Control Director | 1966 |
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