UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of November, 2021
EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (EDENOR)
(DISTRIBUTION
AND MARKETING COMPANY OF THE NORTH )
(Translation
of Registrant's Name Into English)
Argentina
(Jurisdiction
of incorporation or organization)
Av.
del Libertador 6363,
12th
Floor,
City
of Buenos Aires (A1428ARG),
Tel:
54-11-4346-5000
(Address
of principal executive offices)
(Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form
20-F X Form 40-F
(Indicate
by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes No X
(If
"Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .)
PRESS RELEASE
EDENOR MAINTAINS THE LEVEL OF ITS INVESTMENTS AND
CONTINUES WITH THE IMPROVEMENT IN SERVICE QUALITY
Buenos Aires, November 10, 2021, The
Board of Directors of Empresa Distribuidora y Comercializadora Norte S.A. (“edenor”) approved today its financial statements
for the period ended September 30, 2021.
The Company’s results of operations
reflect a 19% fall in revenues in real terms as a consequence of the freeze on rates.
In the first nine months of 2021, edenor
was able to improve its service quality levels while achieving an improvement in the efficient use of its resources.
In this regard, as of September 30, 2021, the SAIDI1
and SAIFI2 indicators for the last 12 months have improved 14% and 16%, respectively, compared to the same indexes recorded
as of September 30, 2020.
Whereas energy losses decreased to
3,619 GWh as compared to the 3,865 GWh recorded in the same period of the previous year.
The investment plan carried out in the last
few years continues to show results that are reflected in a continuous improvement in the quality of the service, by reducing the duration
and frequency of power outages since 2014, thereby surpassing not only the regulatory requirements set forth in the last tariff structure
review, but also, in this year, the quality indexes required by the regulatory authority for the end of the tariff period in February
2022.
1 System Average Interruption Duration Index.
2 System Average Interruption Frequency Index.
The Company continues to ensure the electricity
supply to all its customers. The pandemic posed a challenge for the entire society, and especially for public utility companies. Edenor
carried out a program aimed at taking due care of employees, contractors and customers, applying strict hygiene, safety and health protocols
to each of the activities deemed essential. At the same time, digital customer service and communication channels were optimized and improved.
This is evidenced by the fact that the app edenordigital is used today by more than half of the households, businesses and industries
of our concession area.
MAIN FINANCIAL INDICATORS
The figures related to the prior year’s
period have been restated to reflect the changes in the purchasing power of the Argentine peso, in accordance with International Accounting
Standard No. 29 and the provisions of General Resolution No. 777/2018 of the National Securities Commission.
(*) Operating (loss) profit before taxes
and finance costs.
Revenue decreased 19% in real terms
in 2021, as compared to the same period of 2020, mainly as a consequence of the freeze on electricity rates in an inflationary context
and the increase recorded in the volume of electricity sales.
The gross margin, which best represents
the income attributable to this distribution company, called Distribution Added Value (VAD), fell 14% as compared to the same period of
the previous year, mainly as a consequence of the freeze on electricity rates.
The EBIT resulted in a loss of ARS
515 million, in line with the decrease in the gross margin.
The loss for the period as of September
30, 2021 amounted to ARS 13,341 million, due mainly to the deterioration of the gross margin and the operating result as a consequence
of both the impact of the change in the Income tax rate, which meant an additional loss of ARS 7,473 million, and a higher financial charge
resulting from the deferral of the payment of obligations with the Wholesale Electricity Market, all of which was partially offset by
a higher gain on exposure to inflation in the first nine months of 2021.
As for Investments, in 2021, they
amounted to ARS 10,347 million, which does not represent significant changes compared to the same period of the previous year. Despite
the adverse current economic conditions and the financial situation the Company is currently facing, in addition to the public health
restrictions that had been imposed in the first half of the year, the Company carried out the investment plan in accordance with the regulatory
authority’s requirements.
MAIN OPERATING INDICATORS
Electricity sales in 2021 increased
6.8% to 16,469 GWh, as compared to the 15,427 GWh sold in the same nine-month period of 2020, with a marked increase in residential customers.
The number of customers increased
2%, as compared to the same period of the previous year, due mainly to the increase recorded in residential tariff and MIDE customers.
City of Buenos Aires, November 10, 2021
Messrs.
BUENOS AIRES STOCK EXCHANGE
Messrs.
NATIONAL SECURITIES COMMISSION
Issuers Division
Dear Sirs,
In compliance with the provisions
of section 63 of the Listing Regulations of Bolsas y Mercados Argentinos S.A., I hereby inform you that at this Company’s Board
of Directors meeting held today, the following documents were approved: Condensed Interim Financial Statements, Statement of Financial
Position, Statement of Comprehensive (Loss) Income, Statement of Changes in Equity, Statement of Cash Flows, Notes to the Financial Statements
and Informative Summary, relating to the nine-month interim period ended September 30, 2021.
The amounts disclosed below are
stated in millions of Argentine pesos and arise from the Condensed Interim Financial Statements:
Detail of Equity
Furthermore, and as required by sub-sections 6), 7)
and 8) of section 62, we inform the following:
The class “A” shares
are owned by Empresa de Energía del Cono Sur S.A., domiciled at Maipú 1252, 12th Floor, of the City of Buenos
Aires. Such shares were transferred on June 30, 2021 after the share purchase and sale agreement entered into on December 28, 2020 was
approved by the ENRE on June 23, 2021. The class “B” shares are currently listed on the New York Stock Exchange (through American
Depositary Shares –“ADSs”) and the Buenos Aires Stock Exchange. As of September 30, 2021, the Company had 31,134,420
treasury shares.
An amount of 1,952,604 class “C”
shares, which are held by Banco de la Nación Argentina in its capacity as trustee of the Company Employee Stock Ownership Program,
remains outstanding.
The Company does not have debt
securities convertible into shares, nor there exist stock options of the Company’s shares.
Yours sincerely,
Silvana E. Coria
|
Officer in charge of Market Relations
|
|
(1)
|
Includes 31 relating to treasury
shares.
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(2)
|
Includes 979 relating to treasury
shares.
|
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(3)
|
Includes 37,558,700 shares held
by Pampa Energía S.A. and 242,999,553 shares held by the ANSES.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Empresa Distribuidora y Comercializadora Norte S.A.
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|
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By:
|
/s/ Germán Ranftl
|
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Germán Ranftl
|
|
Chief Financial Officer
|
Date:
November 11, 2021
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