Good afternoon, ladies and gentlemen. Welcome to our teleconference for the discussion of the results referring to the second quarter of 2024. Those of you who need interpretation, please click on the globe icon and choose your favorite language. We inform that all participants will be only listening to the teleconference during the presentation, and then we will proceed with the Q&A session. Forecasts about future events can be subject to risks, and maybe the expectations might be different from what was expected. These opinions are issued only on the date they are done, and the company doesn't apply to update them. We have here our CFO and also Mr. Luiz Coimbra, Superintendent of Investor Relations of Alupar. Mr. Luiz Coimbra is going to proceed with the presentation. Please, Mr. Coimbra, the floor is yours.
Good afternoon to you all. Thank you for your participation in this call. I'm going to be brief, and then we go straight into the Q&A session. So we are going to go first through the highlights of the period, then we are going to talk about the status of the projects, then we are going to talk about the destination of the results, and then profit allocation, and then capital markets.
Now, we have here the first highlight of this quarter, the new cycle, the Cycle RAP 2024-2025. We had adjustments in our contracts in IPCA. We had a 3.93% adjustment, and we, our indexed contracts, 29% of our transmission agreements, we had a deflation of 0.34%.
With that, our revenue leaves 2023-2024 cycle from BRL 3.564 million- BRL 3.932 million with a growth of 10.3%. Also, we see here that we have five new projects in this first semester. Four projects outside, abroad Brazil, and one project in Brazil. Now, talking a little bit about our Latam expansion. We've acquired, in the first semester, four new assets, two in Chile and two in Peru. In Chile, we've acquired two projects totaling $ 145.9 million investments, RAP of BRL 19.4 million, a ratio RAP Capex of 13.3%. These are going to enter into operation in 2027 COD.
In Peru, we have two new assets, BRL 19.6 billion in new CapEx, RAP 3.2, ratio 16.3, and COD 2027. Peru, the concession term is 30 years from the operation, the entrance into operation of the assets. So for Latam now, we have in this new cycle, seven new projects. We're talking about an investment around $290 million, BRL 1.5 billion of reais, and we have $39 million revenue. So all these assets, these seven assets, they have, they are expected to begin operations until 2027. Now, next slide, a new highlight, another one. Sustainability report that was published on the tenth of July. We reinforce here our ESG agenda, the transparency, our commitment to transparency.
This is the fourth edition of our sustainability report and designed according to GRI and SASB. So if you are interested, please access the whole report through the QR code, and it's also available on our website. The next two slides, well, we have another highlight that it's important, the creation and the launching of the brand of Alup the company that commercialize, so it's going to be present in the whole country, focusing on small and averages transmission clients with new solutions that adapt to the needs of the clients. And then on the eighth slide, we have another highlight. We paid the return to shareholders, so now we have dividends paid. They were approved on the on May. They were paid on July.
We paid BRL 66.6, so it's a BRL 0.07 per unit, so BRL 0.21 per unit, so a growth of 82%. We paid BRL 0.12 in the first quarter of 2023, and now we are paying BRL 0.21 per unit. Here you can see the status of our projects that are being deployed, beginning here by TCE in Colombia. We have there 96% of physical advance. We had a new prorogation of the term in this quarter, so the COD that was foreseen for the middle of this year was put now to June 2025, postponed, and revenues of this project we are receiving since December 2021. Also, another project that is well advanced is ELTE.
The South Litoral in Manoel da Nóbrega began operations in May this year, and the revenue is 48% of the total revenue of the projects of the project. North Shore has good advancement as well. Also we have TNE. It's a long road. It was a tandem project. We have 42% of physical advance already. It's inside of the chronogram. We have works inside and outside the indigenous reserve. Also we have the TCN, TES and TEL. In Latin America, TCN, we have 92.9%, TES 11% and TEL 17%. Besides those assets in this table, we have others that are still at the initial phases. They are still under the engineering steps, and so as we have more information, we will give them to you.
With the next slide, we introduce you to the results of IFRS. The revenue is BRL 963.53 million, which is a growth regarding the second quarter of 2023. The growth was in the transmission segment, and the impacts were the growth in the revenue of infrastructure due to the investments in the ELTE transmission line. Also, we had the impact in the monetary correction revenue that was impacted by IGPM, 0.74%, in face of a deflation of 2.72% in the second semester of 2023. EBITDA totalized in this quarter BRL 785.7 million. Four main impacts of this. The first is the increase in the net revenue that I've just explained.
We had an increase of BRL 23.7 million in the cost of infrastructure due to the investments at ELTE. We had an impact of BRL 15.8 million due to other revenues, due to the positive effect of the tariff revisions in EBTE and Transirapé. And also we had an increase of BRL 10.7 million in the account due to equity assets. Is not consolidated by other parts, so it's equivalent. And this asset had a result impacted by the phases of the implementation of the project. We have expanded more along this quarter. We had those. So the results were higher this quarter compared with last year. So the profits is BRL 2,237 million, a 6.7% increase regarding 2023, comparing with 2023.
I will highlight four accounts. The first is the increase of BRL 150 billion in EBITDA. We had an increase also of BRL 39.3 million in the financial results due to the increase in the financial expenses due to the exchange variation. We had a devaluation of the real in face of the Peruvian currency. And, you know, this has an effect on non-cash. And lastly, we had an increase of BRL 48.8 million in the taxes and 39 million in the participation of minorities. So this is a result of the transmitters. And in the next slide, we had the regulatory numbers. So net revenues. We had a reduction of BRL 70 million regarding the numbers of the second quarter, and this is because of the transmission STN.
It has a non-recurrent credit that reduced this account of reductions. EBITDA totalized BRL 645 million compared to last year, and I will highlight three accounts: the reduction of BRL 17 million in the revenue, and then we had an increase of BRL 10.4 million in the operational costs, especially because of the increase of BRL 8.9 million in the costs of services. So, we had transitory costs that impacted them, and also we had expenses with La Virgen. And the last account that I would like to highlight is the increase of BRL 4.8 million in the personal account with three impacts. We had a decision approved in the third quarter of 2023.
We had a payment of PMR in 2024 that was above the PLR participation in profits than 2023, due to the achievements of goals in 2023. And also, we had the impact of the operation of new assets, the aeolic parks, you know, that began operating in this period. And looking at the profit, it totalized in this trimester. It has a reduction in EBITDA. It has, because of the parks, São João and Pitombeira, we had a growth of BRL 39.6 in the financial results. It's the same impact that we had in the IFRS numbers, due to the devaluation of reais to the new sol.
It increases the account of, exchange, you know, and also we had a reduction of 17.3 in the participation of minorities, especially in the, TSM transmitter. And so in the last, year, it had, that credit non-recurrent that improved her, result, its result. Now, the holding. It- hold had a, a debt, a gross debt that was BRL 663 million. The negative debt is BRL 406 million. The debt of the holding is just a debt, is the, seventh emission of the ventures, the issuance of the ventures, and is going to be due in the fourth, quarter of 2025. And, part of this debt is going to be more amortized this quarter, the, the fourth quarter this year.
Now we have the gross debt BRL 12,433 million, and so the net debt is BRL 8,676 million. So we had no significant, significant variations. Most of our debt is indexed to IPCA, followed by IGPM, and also the debts regarding projects in Colombia and Peru, 12%. Next, this slide, we see the destination of the results. So we have the payout of dividends. It was approved by the board of directors. They approved the dividends approved the corresponds to BRL 0.18 per unit, is going to be paid until 60 days of the approval date. That was yesterday.
The shareholders that are enrolled in the records of the company until the end of the sixteenth of August are going to be entitled to these dividends. When we look at this dividend compared to the ones paid in the second quarter of 2023, we had a growth of 56%, and the payout is in the order of 46.4%. Now in the last slide, we see the performance of the company in the capital market. Alupar shows a valuation of 8.47%. The IEE has a devaluation of 4.99%, and IBovespa devaluation, the same period, 4.12%. Another point is the increase of the financial volume we have accumulated in the year, an average daily negotiation, BRL 26.4 million.
So now I close my presentation, and I open now for the Q&A session. Thank you.
Now we will begin with a Q&A session for shareholders and analysts. In case you want to ask, question, please raise your hand, and if your question is answered, you can just leave the row. Our first question comes from, Mr. Mário Roberto from Safra. Please, you can begin, proceed.
Hi, guys. Good afternoon. So I have two questions. The first one is about the interest of the company in the participation in the next auction of transmission in Brazil. If you can comment on the opportunities in Latam as well. And the other question is regarding the impacts in the projects that are under development since we have, paralyzation in the licensing, bodies.
W ell, thank you for your question. Regarding the next auction, we still don't know. We are still analyzing whether we are going to participate in it or not. It's going to depend on the return of the projects to see if they are feasible projects. Let's see the cost, you know, it's still too early to know. And about Latam, yeah, we are looking around to the opportunities that are showing up, and we are trying to participate in several projects, and it's difficult to know, really, because we have plannings that are for many years, and they don't, you know, happen.
Someone has sent a question in written form regarding the projects. So this is for us, is also important and there is. Sorry, the sound is very bad. I'm sorry, the incoming sound is not well.
If you please could comment about the paralyzation of the licensing bodies, are you going to have a few impacts?
Yes, indeed. No, well, it's not completely paralyzed, you know, by the news we are seeing. We are seeing a kind of a slow operation, but we are trying to advance the most that we can, you know. Everything that doesn't need the environmental bodies, you know, all the parts of the projects that are like executive, basic, suppliers. So we are doing this, everything that we can, everything that doesn't depend on the licensing, you know, the land re-enrollment. So now I read about it on the newspapers, you know, on a piece of news I read that maybe really the strike is going to be finished soon.
So we are in the expectation, you know? Yes.
Now, our next question comes from Mr. Peterson Silva.
How Alupar sees the opportunities and the auctions abroad? The plan, what is, is to grow organically or through mergers?
Well, we have adopted the policy of diversification in the continent. Is what we do. Usually, we'll try to work with companies that are similar to ours, you know, so we seek for synergy with the Brazilian market. You know, we have countries here that represent almost 50% of GDP in Brazil, you know? So we think that this is an opportunity that we have to look at. And in relation to M&A, yeah, we have looked into it, but this is a question of returns.
We have to evaluate if it will give us adequate returns, you know, appropriate returns, but we haven't closed anything recently, but we have been looking around, you know. Maybe we can open some opportunity, some window of opportunity.
Now, our next question comes from Mr. Anderson Guimarães.
RAP from projects in Chile, Peru and Colombia, are they linked to the local currency? If yes, do you have any way of protecting from the exchange variation?
Yeah. Well, in the case of transmission, everything is indexed in dollars. We have only one project that's in local currency, indexed to inflation. This is a project in Colombia, and all the other projects are indexed in dollars. And, what we do is that, we check the structure of the capital of each project. We index the revenue with the currency, so we don't incur in any risks in any project.
And then our next question comes from Mr. Pedro Rosetti.
Good afternoon, guys. How are you? Thank you for the results. I would like to know if you can comment about how you see the structure of debts of debentures, and are you comfortable with the chronogram of receivements of this loans, with all these borrowings, the loans, do you intend to do any recaptation of?
Well, we have done several issues, issuances, you know, to leverage projects and roll debts. This is something that we do on our daily basis, you know. And what we use is, you know, we look to our capital structure to optimize it, to streamline it the most, and we try to leverage, you know, to work below 3.5. And maybe we have talked about, you know, but when you have projects that don't create revenue yet, they are still being under construction. Well, we have been talking to the holders to leverage this, you know, in exceptional conditions. But we've been working with the numbers in the healthy capital structure of the company. And now, if you want to make further questions, please click on the button, Raise Your Hand, and if your question is answered, you can leave the roll.
Now, please wait until we have more questions. In case there is no more questions, the session of Q&A is finished. Now I'll give the floor to Mr. José Luiz to make the final remarks.
Well, thank you all for your participation in our presentation, and I invite you all, in case you have any questions, please get in touch with our area of RI. We have an area here that takes care of all the shareholders, so, b ut even if you are not a shareholder, you want to invest on the company, we are at your disposition, okay? Thank you so much, and see you next time.
This teleconference is finished. We thank you for your participation, and have a good day.