Southern Light recorded historic revenues at the end of September 2024driven by the growth of its customer base and an increase in energy sales. The company’s turnover reached S/3,259 million in the first nine months of the year, exceeding not only the figures obtained in 2023, but also the levels of years prior to the pandemic. This increase is due, in large part, to sustained growth in electricity demand, which reached 7,407 GWh, reflecting an increase of 2.4% compared to the same period last year.
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“Although the net subtransmission margin last year was higher than that recorded this year, the income for the first nine months of the year has reached a historic level, which confirms our business solidity,” explained Mario Gonzales del Carpio. , general manager of the company.
Although secondary transmission toll revenues, a component of regulated rates, decreased in 2024 due to a rate adjustment, the company has achieved a net profit of S/ 528 million, reflecting a trend of sustained growth that exceeds the 2019 profits.
The company highlights that this growth is notable given the increase in net operating expenses, which rose to S/139.2 million compared to S/117.7 million in 2023. Part of this increase is explained by extraordinary operating income recorded last year. and for the contracting of additional services necessary for new investments made in 2024.
Success in bond issuance
In addition to the improvement in income and profits, Luz del Sur has reaffirmed its position in the financial market with a successful issuance of bonds for S/ 110 million over five years, obtaining an interest rate of 6.125%. This operation, carried out on October 30, reached a spread of 60 basis points over the reference rate and a demand of 2.1 times the amount offered, which reflects the market’s confidence in the company’s trajectory. This placement allowed it to obtain financing at a rate lower than the average bank loans, thus consolidating its leadership in the electricity sector and reinforcing its prospects for future growth.
“This successful issue underlines our financial strength and the market’s support for Luz del Sur. With an AAA rating, we continue to position ourselves as leaders in the Peruvian electricity sector,” commented Gonzales del Carpio, noting that the funds obtained will contribute to consolidating the company’s investments and strategic projects.
With these positive figures and a successful bond placement, Luz del Sur maintains its focus on the expansion and optimization of its operation, consolidating its role in the energy development of Peru and its commitment to efficiency and sustainability.
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