In 2024, Light SA demonstrated a remarkable turnaround, achieving significant milestones in financial recovery and operational improvements. The company reported a consolidated net income of BRL1.6 billion, marking a substantial increase from the previous year. This success was bolstered by a 47% rise in its cash position, reaching BRL3.1 billion, and a nearly 50% reduction in net debt to BRL4.5 billion. Additionally, the adjusted EBITDA increased by 3.7%, reflecting robust performance across various segments. Key operational highlights include a record-low DEC index of 6.74 hours and a 40% productivity boost among field teams. Despite challenges such as a 14% decline in EBITDA for energy generation and commercialization due to less profitable contracts, the company remains focused on addressing structural issues and completing its judicial reorganization plan.
Light SA's journey toward financial stability began with the approval of a court-mandated reorganization plan supported by over 99% of creditors. This pivotal decision facilitated debt restructuring and cost reductions, enabling the company to strengthen its balance sheet. In 2024, Light SA achieved a consolidated net income of BRL1.6 billion, underscoring its successful recovery. The cash position surged to BRL3.1 billion, up 47% from the previous year, while net debt decreased significantly to BRL4.5 billion. These figures highlight the effectiveness of the company’s strategic initiatives aimed at improving liquidity and reducing liabilities.
Operational enhancements played a crucial role in Light SA's achievements. The company recorded a 40% increase in productivity among internalized field teams, contributing to improved service delivery. Furthermore, the DEC and FEC indexes, which measure power interruption duration and frequency, remained below regulatory thresholds, indicating consistent service quality. Notably, the DEC index reached its lowest level in the fourth quarter of the company's history, standing at 6.74 hours. These operational successes align with the company's commitment to enhancing customer satisfaction and maintaining high standards of reliability.
The commercial segment also performed admirably, registering a 2.1% year-on-year increase. However, market growth was somewhat constrained by distributed generation capturing part of the potential increase, limiting overall consumption growth. In terms of segmental performance, distributors' EBITDA rose by 3.7%, while energy generation and commercialization experienced a 14% decline due to reduced margins from less profitable contracts. This disparity underscores the need for strategic adjustments to optimize profitability across all business units.
Looking ahead, Light SA continues to navigate challenges, including addressing high levels of losses in its concession area and completing its judicial reorganization plan. The company plans to conduct a reverse auction in April, following the publication of its results, as part of the buyback process for Light Energia. Moreover, the renewal contract introduces changes in non-technical and risk areas, guided by the Ministry of Mines and Energy, fostering greater financial and economic sustainability. These developments position Light SA for sustained growth and resilience in the evolving energy landscape.
As Light SA progresses through its transformation journey, the company remains committed to implementing structural solutions that enhance operational efficiency and financial health. With a strong foundation established in 2024, Light SA is poised to capitalize on emerging opportunities while addressing lingering challenges. The combination of robust financial metrics, operational excellence, and strategic initiatives positions the company favorably for future success in an increasingly competitive market environment.