CONDENSED INTERIM FINANCIAL STATEMENTS
AS OF JUNE 30, 2021 AND FOR THE SIX AND THREE-MONTH
PERIOD ENDED JUNE 30, 2021
PRESENTED IN COMPARATIVE FORM
(Stated in millions of constant pesos - Note 3)
C O N D E N S E D I N T E R I M
F I N A N C I A L S T A T E M E N T S
Legal Information | 2 | ||
Condensed Interim Statement of Comprehensive Income (Loss) | 3 | ||
Condensed Interim Statement of Financial Position | 4 | ||
Condensed Interim Statement of Changes in Equity | 6 | ||
Condensed Interim Statement of Cash Flows | 7 | ||
Notes to the Condensed Interim Financial Statements: | |||
1 | | | General information | 9 |
2 | | | Regulatory framework | 10 |
3 | | | Basis of preparation | 12 |
4 | | | Accounting policies | 13 |
5 | | | Financial risk management | 13 |
6 | | | Critical accounting estimates and judgments | 15 |
7 | | | Contingencies and lawsuits | 16 |
8 | | | Revenue from sales and energy purchases | 17 |
9 | | | Expenses by nature | 19 |
10 | | | Other operating income (expense), net | 20 |
11 | | | Net financial costs | 20 |
12 | | | Basic and diluted loss per share | 21 |
13 | | | Property, plant and equipment | 22 |
14 | | | Right-of-use asset | 24 |
15 | | | Inventories | 24 |
16 | | | Other receivables | 24 |
17 | | | Trade receivables | 25 |
18 | | | Financial assets at amortized cost | 25 |
19 | | | Financial assets at fair value through profit or loss | 26 |
20 | | | Cash and cash equivalents | 26 |
21 | | | Share capital and additional paid-in capital | 26 |
22 | | | Allocation of profits | 26 |
23 | | | Trade payables | 27 |
24 | | | Other payables | 27 |
25 | | | Borrowings | 28 |
26 | | | Salaries and social security taxes payable | 28 |
27 | | | Income tax and deferred tax | 29 |
28 | | | Tax liabilities | 30 |
29 | | | Provisions | 31 |
30 | | | Related-party transactions | 31 |
31 | | | Ordinary and Extraordinary Shareholders' Meeting | 32 |
32 | | | Termination of agreement on real estate asset | 32 |
33 | | | Change of control | 33 |
Report on review of Condensed Interim Financial Statements
C O N D E N S E D I N T E R I M
F I N A N C I A L S T A T E M E N T S
Glossary of Terms
The following definitions, which are not technical ones, will help readers understand some of the terms used in the text of the notes to the Company's Condensed Interim Financial Statements.
Terms | Definitions |
BCRA | Central Bank of Argentina |
BICE | Banco de Inversión y Comercio Exterior |
BNA | Banco de la Nación Argentina |
CABA | City of Buenos Aires |
CAMMESA | Compañía Administradora del Mercado Mayorista Eléctrico S.A. |
(the company in charge of the regulation and operation of the wholesale | |
electricity market) | |
CNV | National Securities Commission |
CPD | Company's Own Distribution Cost |
CSJN | Supreme Court of Justice of Argentina |
CTLL | Central Térmica Loma de la Lata S.A. |
DNU | Executive Order issued on the grounds of Necessity and Urgency |
EASA | Electricidad Argentina S.A. |
edenor | Empresa Distribuidora y Comercializadora Norte S.A. |
ENRE | National Regulatory Authority for the Distribution of Electricity |
FACPCE | Argentine Federation of Professional Councils in Economic Sciences |
FIDUS | FIDUS Sociedad de Garantías Recíprocas |
GWh | Gigawatt/hour |
IAS | International Accounting Standards |
IASB | International Accounting Standards Board |
ICBC | Industrial and Commercial Bank of China |
IEASA | Integración Energética Argentina S.A. |
IFRIC | International Financial Reporting Interpretations Committee |
IFRS | International Financial Reporting Standards |
IMF | International Monetary Fund |
MEM | Wholesale Electricity Market |
OSV | Orígenes Seguros de Vida S.A. |
PBA | Province of Buenos Aires |
PEN | Federal Executive Power |
PESA | Pampa Energía S.A. |
RDSA | Ribera Desarrollos S.A. |
RECPAM | Gain (Loss) on exposure to the changes in the purchasing power of the currency |
REM | Market Expectations Survey |
RTI | Tariff Structure Review |
SACME | S.A. Centro de Movimiento de Energía |
SACDE | Sociedad Argentina de Construcción y Desarrollo Estratégico S.A. |
SEGBA | Servicios Eléctricos del Gran Buenos Aires S.A. |
WHO | World Health Organization |
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C O N D E N S E D I N T E R I M
F I N A N C I A L S T A T E M E N T S
Legal Information
Corporate name: Empresa Distribuidora y Comercializadora Norte S.A.
Legal address: 6363 Av. del Libertador Ave., City of Buenos Aires
Main business: Distribution and sale of electricity in the area and under the terms of the Concession Agreement by which this public service is regulated.
Date of registration with the Public Registry of Commerce:
- of the Articles of Incorporation: August 3, 1992
- of the last amendment to the By-laws: May 28, 2007 - Note 31
Term of the Corporation: August 3, 2087
Registration number with the "Inspección General de Justicia" (the Argentine governmental regulatory agency of corporations): 1,559,940
Parent company: Empresa de Energía del Cono Sur S.A.
Legal address: 1252 Maipú Ave., 12th Floor - CABA
Main business of the parent company: Investment in Class "A" shares of edenor.
Interest held by the parent company in capital stock and votes: 51%
CAPITAL STRUCTURE AS OF JUNE 30, 2021 (amounts stated in pesos)
Subscribed and | |
Class of shares | paid-in |
(See Note 21) | |
Common, book-entry shares, face value 1 and | |
1 vote per share | |
Class A | 462,292,111 |
Class B (1) | 442,210,385 |
Class C (2) | 1,952,604 |
906,455,100 |
(1) Includes 31,134,420 and 31,380,871 treasury shares as of June 30, 2021 and December 31, 2020, respectively.
(2) Relates to the Employee Stock Ownership Program Class C shares that have not been transferred.
2
C O N D E N S E D I N T E R I M
F I N A N C I A L S T A T E M E N T S
edenor
Condensed Interim Statement of Comprehensive Income (Loss)
for the six and three-month period ended June 30, 2021
presented in comparative form (Stated in millions of constant pesos - Note 3)
Revenue
Energy purchases
Subtotal
Transmission and distribution expenses
Gross margin
Selling expenses
Administrative expenses
Other operating income
Other operating expense
Loss from interest in joint ventures
Operating profit
Financial income
Financial costs
Other financial costs
Net financial costs
Monetary gain (RECPAM)
Profit (Loss) before taxes
Income tax
Loss for the period
Comprehensive loss for the period attributable to:
Owners of the parent
Comprehensive loss for the period
Basic and diluted loss per share: Loss per share (argentine pesos per share)
Six months at | Three months at | |||
Note | 06.30.21 | 06.30.20 | 06.30.21 | 06.30.20 |
8 | 47,148 | 59,513 | 23,838 | 26,953 |
8 | (29,557) | (38,051) | (15,423) | (17,738) |
17,591 | 21,462 | 8,415 | 9,215 | |
9 | (11,490) | (12,584) | (5,720) | (6,833) |
6,101 | 8,878 | 2,695 | 2,382 | |
9 | (5,035) | (6,817) | (2,332) | (4,120) |
9 | (3,089) | (2,835) | (1,618) | (1,523) |
10 | 2,054 | 1,700 | 1,444 | 749 |
10 | (1,671) | (1,146) | (841) | (635) |
(3) | (1) | (3) | (1) | |
(1,643) | (221) | (655) | (3,148) | |
11 | 22 | 18 | 6 | 6 |
11 | (10,183) | (4,404) | (5,273) | (2,477) |
11 | 658 | (2,123) | 575 | (935) |
(9,503) | (6,509) | (4,692) | (3,406) | |
11,473 | 4,891 | 5,468 | 2,231 | |
327 | (1,839) | 121 | (4,323) | |
27 | (11,963) | (853) | (11,030) | 490 |
(11,636) | (2,692) | (10,909) | (3,833) |
(11,636) | (2,692) | (10,909) | (3,833) | |
(11,636) | (2,692) | (10,909) | (3,833) | |
12 | (13.30) | (3.08) | (12.47) | (4.38) |
The accompanying notes are an integral part of the Condensed Interim Financial Statements.
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EDENOR - Empresa Distribuidora y Comercializadora Norte SA published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 19:31:07 UTC.