Empresa Distribuidora y Comercializadora Norte Sociedad Anonima (NYSE:EDN) Q1 2022 Earnings Conference Call May 13, 2022 9:00 AM ET
Company Participants
German Ranftl – Chief Financial Officer
Conference Call Participants
Operator
Good morning, ladies and gentlemen, and thank you for joining. At this time, we will like to welcome everyone to Edenor 's First Quarter 2022 Earnings Conference Call. We would like to inform you that this event is being recorded, and all participants will be in listen-only mode during the presentation. After the company's remarks are completed, there will be a question-and-answer section through the webcast chat. Before proceeding, let me mention that forward-looking statements are based on the belief and assumptions of Edenor's management on an information currently available to the companies.
They involve risks, uncertainties, and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand the general economic conditions, industry conditions, and other operating factors could also affect the future result of Edenor and could cause results to differ materially from those expressed in such forward-looking statements. Now, I'll turn the conference to Mr. Germán Ranftl, CFO of Edenor. Thank you.
German Ranftl
Good morning everyone, and thank you for joining. Welcome to Edenor earnings webcast for the first quarter of 2022. I truly hope that you and your family are safe and healthy. As you know, you can always call any member of our team for more details in the results of the period, or any doubts you may have. We first will be focused on the highlights. Edenor continues to guarantee the electric distribution services to all its 3.2 million customers, which represents a population of approximately 11 million people.
Our mission is to provide a socially responsible electricity distribution service, leading the energy transition that contributes to improving people's quality of life, business, and community developments, as well as that our of employees and shareholders and [Indiscernible] holders. We are committed to our community, which is why we have adopted the best environmental, social, and governance practices. Edenor was able to improve its quality services, as well as better management of its resources.
The key indicators SAIDI and SAIFI represent the duration and frequency of financial cuts for the last three months showing an improvement of 13% and 11% compared with the same indicators as of March 2021. Revenues from sales were 7% lower than the first quarter of 2021 in real terms. Mainly due to inflation differences and the Tariff that has been frozen for this period. Edenor announced the results on May 10, of the offered to exchange class number nine, [Indiscernible] obligations with 73.25% acceptance. We would like to thank to all the holders who have participated. Public hearing on April 18th, 2022, the [Indiscernible] executive branch convened public hearings to be held on May 10, 11, and 12, with the aim of dealing with the following issues.