Brazil · Delayed Price · Currency is BRL Eneva Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw record EBITDA growth, driven by strong thermal dispatch, LNG trading, and one-off gains. Major investments and project milestones support long-term expansion, with a robust pipeline and disciplined capital allocation ensuring future growth.
Fiscal Year 2025
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Record 2025 EBITDA and cash flow were driven by asset acquisitions, operational synergies, and expansion in gas trading. Strong outlook for 2026–2027 with new contracts, capacity expansions, and robust capital structure supporting continued growth.
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Record EBITDA and operating cash flow were achieved, driven by asset expansion, new contracts, and efficiency gains. Investments in new projects and a strong balance sheet position the company for growth, with significant opportunities in upcoming capacity auctions and LNG market expansion.
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Record Q2 2025 EBITDA rose 56% year-over-year to BRL 1.6 billion, driven by strong gas and LNG sales, asset acquisitions, and high thermal dispatch. Liquefaction capacity expansion and robust cash flow support continued growth, with leverage at 2.7x.
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Record Q1 2025 EBITDA of BRL 1.528 billion, up 40% year-over-year, driven by new assets, LNG expansion, and strong gas trading. Net debt-EBITDA ratio improved to 2.6x, with robust cash flow and investments in growth projects.
Fiscal Year 2024
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Record adjusted EBITDA rose 20% year-over-year, driven by strong gas generation and asset optimization. Net loss was impacted by non-cash impairments and exchange rate effects, while leverage improved to 2.42x. Outlook for 2025 is positive, with rising energy prices and new projects advancing.
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Q3 2024 saw record EBITDA and cash flow, driven by strong dispatch, asset performance, and new contracts. Leverage dropped significantly after a major follow-on and M&A, while investments in new plants and infrastructure continued. Outlook remains positive for Q4 and 2025.
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Q2 2024 saw EBITDA rise 4.5% year-over-year (excluding Fortaleza), with strong cost control, record energy exports to Argentina, and new gas contracts. Major BTG asset acquisition and follow-on will strengthen the balance sheet and support future growth.