Good afternoon, everyone, and please be welcome to the earnings conference call of the third quarter 2023 of Energisa. We inform you that this video conference is being recorded and it's gonna be available at the company's IR website, where is available the current presentation. We highlight that who may ever need a simultaneous translation, we have this tool available at the globe icon written interpretation, located at the bottom center area of your screen. By selecting it, choose your preferred language, Portuguese or English. To those listening to a video conference in English, there's the option of muting the original audio in Portuguese, clicking Mute Original Audio. For the Q&A session, question and answer session, we guide you that send the questions via the Q&A button icon at the bottom of your screen.
By then, names, your names will then be announced so that you can ask your question live. At this moment, a request to activate your microphone will show up on your screen. Considering that some of the panelists are remote, oscillations and instabilities may occur on the video conference, impacting on the answer time, especially during the Q&A. We count on your comprehension. We highlight the information is available on this presentation and eventual statements that may be done during the video conference, related to prospective business projections and operational goals and financials of Energisa. They are beliefs and premises of the administration of the company, such as information available. Future statements are not proof of performance. They involve risks, uncertainties and premises because they refer to future events, and then they depend on circumstances that may or may not occur.
Investors must comprehend that economic conditions, market conditions, and other factors may affect the performance of the company and could cause the results that differ materially from those expressed in these forward-looking statements. Now, I would like to pass the word to Ricardo Botelho, Director President of the company, to start the presentation. Ricardo, please go ahead. Just one second, guys. I have a difficult technology here. Just one second. Just one second. Hey, guys, sorry about the technical problems that we had here right now. I'd like to start the presentation. Thank you, operator. Good afternoon, everyone. I thank. I appreciate your presence here on this presentation of results of the third quarter 2023.
On this event, they participate with these respective teams: Maurício Botelho, CFO of the company; Fernando Alves , Vice President of Regulations; Gioreli de Sousa Filho , Vice President of Networks; Daniele Salomão , Vice President of People and Management; Roberta Godoi, Vice President of Energisa, and for executives in the company and investor relations senior. Lucas Vituri . And Fábio Bertollo as well, that's up here as you. First of all, I kindly ask that you guys pay attention to the warnings on this slide before taking any decision investments on the company. I'm gonna start the presentation right now. On the results of the group on the third quarter, 2023, I would like to highlight that's the first quarter that we consolidate the results of ES Gás, our first acquisition on the segment of natural gas distribution.
With the acquisition of ES Gás, besides reinforcing our existing solutions, it reaffirms our role of being the main characters of the energy transition in Brazil, and our goal to diversify the portfolio of assets that bring excellent opportunities for growth and value generation. Being a cleaner fuel and efficient that substitute with advantages other fuels, natural gas, they keep it very relevant. So in the last few years in Brazil, the perspectives are positive for next year. They're really, like, leveled up with the. With-- Because of the natural gas, by the interest of new actors in the production and consumption, and for the thermal electric companies that they complement the renewable resources, guaranteeing a bigger security, safety, and energy security.
According to EPE, the potential production of natural gas in the country will be growing up to 90% in 2033, and we used to follow up this tendency. We're really grow from this growth in infrastructure, and we had a growth of 115% in the last ten years. About talking about the growth of natural gas in the area of the state of Espírito Santo is extraordinary, because of the addressable potential market with multiples expressives in each segment of consumption, and I highlight the industrial segments. And right now, they have about, like, 93% of the consumption of thermal electrical, and they come with a solid base of industry, competitive industries, and well situated. And the low penetration of clients and housings is another lever for us.
With this favorable scenery, the ES Gás investment, safe investment to the group of Energisa, really structured, without any passives and actives, with conditions adequate for us to give our first steps in the sector. The company counts with an experienced team, with executives working with the private area. With a solid basis, we should, like, move all our expertise with turnarounds, successful turnarounds in more than 100 years on the distribution of energy to impulse the evolution and competitiveness with the market gas on the market, with the benefits for all the involvements. The investment plans referring to the first cycle, August 2020 to July 2025, it was approved with the company, ARSP. We expect to have an apport of BRL 193 million.
First, the planning was that we had BRL 98 million, and they were allocated in the next two years. But our expectations accelerate the implementation of this value to expand the urban network, mostly on Vila, Vila Velha, Vitória and Serra, and this area, of course, and with the steel network
Being aligned with the national, federal and state regulations, our ducts can also transport biomethane, considered by ANP equivalent to natural gas. And the recent acquisition of Agric, that we're gonna be talking further, they reinforced our strategy of being to giving these energies and distributions of gas, and evolution and innovation doesn't stop like this. And we also... We work with other states, and we don't stop, like, here, like I said. We really believe in the potential of capturing, use it, and all of this with the blue hydrogen, and we understand that Espírito Santo has good possibilities to be a hub to these technologies. With this, I pass the word to Maurício Botelho, CFO and Director of Investor Relations, to talk about the main results of the third quarter of 2023. Good afternoon.
I thank everyone for your presence here in another, uh, results, another quarterly results of Energisa. Firstly, as well, I would like to inform that continuing the representation of the financial statements, as we told in the fourth quarter last year, we are representing the results in the last nine months of 2022. According to the next quarter of 2022, comparing better with this. And going back to the results of this quarter, I highlight the, the robust and sustainable growth of the EBITDA, adjusted--recurring EBITDA adjusted. They evolved 25.2% in this quarter and 18.5% in the last nine months. The segment of distribution of energy was the segment that mostly contributed for the EBITDA consolidated. It was, uh, BRL 2.1 billion.
The raw margin adjusted without the VNR, with the distribution of energy, they had a growth of 12.6%, which is equivalent to BRL 293 million, comparing to the third quarter of 2022, that totaled two point six billion. As summing up all the nine months of 2023, I also highlight the Energisa that contributed to BRL 100 million with the consolidator of the group. Please, next slide. We're gonna be talking about PMSO. We had an increment of approximately 18% comparing the quarters, impacted basically by the people and third-party services. Mostly also because of the acquisition of the company to do new patterns of quality with the ANEEL Resolution No. 1,000 .
Of course, we have the salary readjustments of the collectives and new businesses, and distributed generation, transmission, and distribution of gas. The distribution of energy, that represents almost 90% of PMSO consolidated, they had a growth. They got down by 8.1% on next quarter before the 11.2% in the next nine months. Being more specific on the variations of people and service, I highlight that. On the people area, we had a growth of more than BRL 21 million with the big inflation that we had on the deals on 2022, and I guess contributed with these expenses of BRL 3.6 million.
In the third party segment, we had a growth of BRL 18 million with the consultancy services, BRL 24 million in the expenses of maintenance and preventive equipment maintenance as well, and expenses with the inspection, all the other effects of Resolution 1000 from ANEEL. Despite the growth of PMSO on the last few quarters, the Group Energisa keeps working with discipline on the management of the operational costs and improving the patterns of quality, such as we're gonna be seeing further ahead. On the next slide, we talk about the net profit, the consolidated. The first time this year, we had an increase related to the last quarter of 2022, it was positive, the net income.
Compared to the third quarter of 2022, the net income, they total 45%, which means BRL 688 million. Just the net income, adjusted and recurring, which takes off like the effects of consolidation of the VNR, of distribution, regulatory transmissions. They had a growth of 90% or eighty-six million reais bigger, totaling five hundred, thirty-eight million reais on this quarter. And this result reflects of the net income, which had like an expense, lower than 300 million and totaling 650 million on the quarter. This reduction can be explained mostly by the expense of 343 million, lower than the mark-to-market , and there's the market effect of the option of compare of the MTM and the bonus of subscription of the seventh emission. This last item happened last year.
Yes, this last item, it doesn't, it doesn't affect more the results since the last quarter of 2022. Going to the next slide, we're gonna be talking about investments. The total investments, they decreased 15.1% on the quarter, and they got from BRL 1.82 billion on the third quarter of 2022 to BRL 1.55 billion in the third quarter of 2023. And amongst the loss of investments, it was lower, it was 3.6%, and we closed the period with BRL 4.63 billion. On the quarter, the investments on the segment of distribution of energy, they had like a decrease of BRL 316 million when compared to the other quarters.
Energisa had an increment of BRL 49 million when we compared to the third quarter, and BRL 385 million more when we compared to the last nine months. In talking about Energisa, almost totally of investments, they were dedicated to the segment of the distributed generation. That and close with on the nine months of 2023, with BRL 837 million invested with the distributed generation in here. Next slide, please. Well, Grupo Energisa, they closed the quarter with the leverage indicator, with the debt of with EBITDA adjusted in 3.3 times above on the indicator of 2023. It was 2.9, and explained mostly with the consolidation of ES Gás, that aggregated only three months of contribution with the EBITDA, but...
whether it consolidates entirely to the expenses buying the asset, which was approximately BRL 1.5 billion. The leverage index of the group seems like with controls and below the limits of the current covenants, with the net debt is 4.25 times with the-- about the debt, with the debt, with the covenants. Talking about the cash flow to our company, we closed the quarter with BRL 5.2 billion. Remembering in on the October, we had like BRL 1.8 billion with the debentures that's not considering by the end of September. And we end here about the consolidated explanation, and we're gonna talking about the main segments of business of Energisa. And we're gonna talking about like, distribution of energy. Talking about the third quarter, it was relevant to the results.
We had, we must highlight the EBITDA without the VNR, that had a growth of 16.4% on the quarter and totaled BRL 1.77 billion. The growth of market and the process of review, tax review, they contributed to the improvement of the financial indicators this quarter. On the next slide, we're gonna be talking about market. We reached the biggest, like, rate of growth on the market for the current quarter on the last four years. We highlight the residential class because they had a growth of 6.7% on the quarter, and we increased the consumption on the distributors, and it impulse with the temperatures like above the average of the period, focusedly, especially on the Center, West, and North. Occasionally, they happen because of the El Niño phenomenon.
Just to illustrate, in the third quarter of this year, they were registered 40 heat waves in the biggest cities in the area of concession, 25 more than what happened in the third quarter, 2022. Other metric is the cooling degree days that we have here. That's an, let me check on how hot the temperature was during the days. In our concession, the need of, like, cooling was 21% bigger than the third quarter in 2022. Besides the climate effects, the good development, the good performance of the element, the, the food chain was also decisive on the commercials, the grains, and the big, like, stores. They had, like, some highlights in here, talking about industry, freezers, grains, derivatives, with, like, the record, they pulled the results to help us. Talk about paper and metal.
And now talking about total losses of energy. We follow with consistency below the regulatory reference from the last 24 months. On this quarter, our loss index total was 12.53%, 0.47 percentage points below the limit. It's good. And comparing to the last quarter, our group, we increased the losses in 0.24 percentage points because of the growth of the demand of energy explained on the previous line. It wasn't like all we totally reflect on the money that we had talking about the period of calendar, about the companies on the regions North and Central West, and this effect must be correct in the next month. Should be.
Important as well, the performance that we had on Energisa Rondônia, that, like, reduced these losses in 1.5 percentage points related to the third quarter, 2022, and 0.19 percentage points related to the last quarter. And this quarter, that's the best, like, historical results for the company. And talking about, like, quality here, about the FEC and the big companies. We are below the regulatory limits and want some highlights here, we should be having FEC here, being them Mato Grosso and Sul-Sudeste. They had, like, the best, like, historical marks on the company. And the other slide is about debts, about default.
The actions that we talk about default on the companies, they're gonna be working efficiently, working to contribute on the improvement of the allocation of the money, with the economic scenario more challenging. On this quarter, the distribution, electricity distribution segment, we had a reduction of BRL 33 million on the expected losses on credit, and about nine months. And summing it up, we improved BRL 94 million. About the default rate on the last 12 months in September, it was 1%, a similar level on what we showed up before COVID. Talking about ES Gás right now on the next slide. So we like the main highlights that we have here on the quarter, on the first quarter that we do this.
We already contributed with BRL 47 million with EBITDA and BRL 29 million with net income. We are integrating this from a pro-integration process with this company, and we really believe on this growth. Here we show the main points on this one. We had, like, increase of customers. We had an increase of 80%. It was, like, more than 78,000 customers, and the current numbers indicate that we already have surpassed the 80,000 customers. Talking about transmission here, on the third quarter, we're talking about the fifth transformer. Okay, we're talking about reinforcement of the Mauá 3 , about concession of Amazonas. And it was, like, concluded five months earlier than the original deadline that we have here, keeping the historical of Group Energisa always delivering first, before.
And the evolution of the EBITDA was 32.8% of the EBITDA compared to the quarters. And let's talk about the readjustment, tax readjustments of RAP, and we talk about the enter of the concession Energisa Tocantins I . It was in December 2022, and by the reinforcement of the concession in the Pará II , in Pará II in March 2023, and by the new installations that we have in Amazonas that I just talked about. And after the tax readjustments of RAP, the total for the, for the cycle, it's gonna be of, BRL 818 million, including with the five optical fiber. And talk about Energisa Amazonas as well.
So despite being also in construction, we have a partial ramp of 34% by the actives already operational. And on this concession, we have a possibility to give it, like, beforehand, a partial help because of the, until we finish the conclusion of the improvement. Talk about Energisa right now. The EBITDA of Energisa, he considers the sums of the results of the distributed generation, commercializing, and aggregated value. They had a growth of 75% compared to the third quarter 2022, reaching a total of BRL 55 million in the quarter. A highlight here to the distributed generation that aggregated BRL 26 million of EBITDA in the quarter, 105% above the third quarter of 2022.
The investment, they reached BRL 271 million, which represented a growth of 22% comparing to the third quarter of 2022. On the distributed generation unit, the results is reflects of the 6 new solar farms added up on the quarter, that total 82 power plants operating and 324 megawatts peak of capacity installed. The investments on the quarter for the segment added BRL 265 million, 24% above the rise rate on the quarter 2022. At the end of the quarter, we had more than 13,000 customers connected, a growth of more than 18% when comparing to the evolution, adding up the 9 months of 2023 against 2022.
On their segment in here, since we published on the ACL 2022 in September 2022, Energisa, they prepare to have, like, a relevant, like, role on the opening of the market, of the conquest of the expressive share of the customers that can migrate to the free market. Well, this works that. Our market, we have, like, new contracts and a good share of this number with the stores. Comparing to the third quarter of 2022, the growth was 856% on the last nine months of 2023, the growth of 765%. On the second to the third quarter of 2023, we had a growth of 75%.
Currently, we have a base of 453 with the commercializer, and we sold on this year, 2,746 gigawatt hours. In closing about the highlights of Energisa, in the quarter, we showed up the acquisition of Agric, that is a company of organic residual biofertilizers. We acquired her on August this year, and they represented of the entry of the Energisa Group on the production and commercialization of natural gas, renewable natural gas, big factor to the transition of energy in the country. Today, the company, we made a compost of 250 tons per day of organic residuals from the agro industry for the year production of biofertilizers. In the future, the company will be available to produce biogas and biomethane besides the biofertilizer.
It is located in Campos Novos, Santa Catarina, a state which has the fourth biggest volume of freezers with meats and industries of the area in the country. It means, like, we have, like, a root of and a high potential of consumption of biomass and biofertilizers. And the inclusion of biogas and the biomethane with the portfolio of energetic solutions that we offer reinforce our compromise to help the customers to make this energetic transition with fuels that reduce up to 90%-90% of the emissions. We end here our presentation, and we stay available for further eventual questions. Please, operator. Now we're gonna be starting the Q&A session. We kindly ask that you make all the questions at once, waiting for the answer of the company.
Remembering that to make questions, we guide you that the questions be sent via the Q&A icon located at the bottom area of your screen. By dynamics, your names will then be announced, so that you can ask your question live. And then a request, "Open your mic," will show up on your screen. Please wait while we collect the questions. Well, let's go to the first question. It's from Marcel Sá, sell-side analyst from Itaú. Marcel, please, we're gonna be opening your audio so that you can ask your question. Marcel, please go ahead. Marcel, please go ahead. If he can't do it, operator, he can send the question via the chat, and then we can do it for you. We already have a question? Can you please ask the question here? Is it legal? Okay. The question from the Marcel, maybe have technician.
The President, Arthur Lira , they gave some statements about the renovation of concession of distribution. It must be go through the Congress. The political group, they put this point again after the loss of energy by, like, a long time that we had on São Paulo because of the rains. How do you see this risk? Good, Marcel. Good, Marcel. So we understand that this process, with, like, extending this, it's being well conducted with the Ministry of Mines and Energy invited to help. The legal information, the legal, like, information that we have, it's, it's already good to work with this. It's. We don't need, like, to change it. We must, like... We, we should go ahead with this.
And by deciding that he gave us, like, about this, but of course, the National Congress, they, they can try, they have, like, all the rights to follow it up, check it up, to see how it works. But it works, like, at a long range process, so it shouldn't be, like, involved with, like, extraordinary events that happened here. Like, whether whether situations happen like this, we should be working to improve the distribution here in the market, but it's like work with the states and how they work about it. It's a mobilization to help with, with when that catastrophe happens. They're talking about, like, the, the, the income, the, to work with this and talk, like, extending this, to work with this. I also, I keep defending this.
We don't have, like, any accident, like, financial information to work with this, so reach, try to change with this. That's why the current model, where they work with this, with the distribution, they already work, like, with the sourcing. They work with each four and five years. It works naturally. It's not like we're gonna be debating with them about this, but I believe that the process, it follows, like, keeps moving on naturally, like it's gonna be moving on right now. Thank you for the answer. Remembering that to make your questions, we recommend that you send them via the Q&A located at the bottom area of your screen, and by dynamics, your names will then be announced so that you can ask your questions live. Let's go to the next question. It comes from Julia Zaniolo, sell-side analyst from Santander.
Julia, we're gonna be opening your mic so that you can ask your question live. Julia, please go ahead. Good afternoon, guys. I have one question here about the, about the gas market. How is gonna be the strategy of you guys talking about new opportunities of the-- on the gas market, and which the idea that we have here? First, you want to consolidate maybe the ES Gás to work with the concession and then thinking about, like, further investments, or are you already looking for new opportunities right now? Thank you so much. Gab, would you like to answer this one? So the, the question is explaining about what you're gonna be doing, talking about the, the new opportunities here on the market. Usually, we don't talk about what you're gonna be doing with this, but ex-- we, we don't speculate about this, about buying another companies and...
But we're going right now with the first phase of getting to know the sector, how we work with this, and work within the following steps here. We got this company in March. In July, we took it up, so we have, like, only a couple of months working with this, but I should talk about this. So what would I say? We're quick learners about stuff. So we're gonna be evaluating further ahead what you're gonna be doing. But I think that first we must understand that we must first consolidate all the work that we have here on the ES Gás, and then it involves capturing relevant opportunities of growth on the site. But I believe that by thinking next, we're gonna be examining this better for another opportunities on the market.
Let's go to our next question. It comes from Daniel Travitzky, sell-side analyst from Banco Safra. Daniel, we're gonna be opening your mic so that you can ask your question live. Daniel, please go ahead. Hi, guys. Good. How are you? I have two questions here. The first one is about the doubts that I have on. If you could talk, like, a little bit more about the composition about, on, on, maintenance works with supplies, about the meaningful numbers of this line, talking about year-over-year, which is the recurring level that we should be expecting, looking forward on the next steps, and how we had, like, this really big increase?
The second question is about the allocation of shares, but mostly to understand how you guys evaluate your pursuit for the next year, because we have some transmission auctions on the end of this year, the beginning of next year, and about opportunities of the gas market. Mostly to understand what we have here, what is a priority for you guys, for the company, looking on about 2024. Good afternoon, Daniel. About the manufacture, this is mostly about the increase of the weather that it always has. So calendar works for this. So, I like to work at about the information about, like, the yearly, because looking about, like, the quarter information, because this is gonna be volatile, this, because of the weather and the calendar, all this.
Talking about percentually speaking, on this third quarter with the year, so we had, like, a small increase. So it's hard to talk about, like, a projection, because it's like to be normalized here on the twelve months, with a small, like, difference because of the calendar and weather. And talk about the investments, it's almost about the same thing that Ricardo talked about this. It's complicated to be, like, speculating. We're gonna be doing here, there, A, B, C, something like that. But we are always analyzing for new opportunities. We have, like, a big team that keeps always analyzing the auctions of transmission, and we're gonna be keeping doing this. We're gonna be looking for these opportunities here, but we're gonna be studying this. It also depends on the current situation of the moment that we have here, knowledge.
It's really volatile to talk about this. And talk about, like, to make sure for you, too, yes, we're gonna be working on this auction or, or that auction, because, it also depends on the knowledge that we have here and, and equipment. Thank you. Thanks so much. Nice. Just a reminder, guys, that you can... To ask questions, please send the questions via the Q&A icon located at the bottom area of your screen. And by Dynamics, your names will then be announced so that you can ask your question live. Later. I can look here in the chat, and we don't have any more questions. I think that we can, like, finish it up. And thank you. Thank you for everyone. Good afternoon. Perfect. Without further questions, we close the Q&A section.
We close the video conference talking about the third quarter of 2023. The investor relations department is gonna be available to answer any further questions and doubts. Thank you so much for the participants, and have a good afternoon. Good afternoon. See you.