Empresa Distribuidora y Comercial Norte SA ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Empresa Distribuidora y Comercial Norte SA ADR reported revenue of $3.0T (+46.4% year on year) and net income of $240.4B (-12.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $3.0T | $2.0T | $701.1B | $205.8B |
| Energy purchases | ($1.7T) | ($1.2T) | ($458.9B) | ($143.2B) |
| Distribution margin | $1.3T | $876.7B | $242.2B | — |
| Transmission and distribution expenses | ($572.7B) | ($482.1B) | ($214.4B) | ($54.9B) |
| Gross profit | $680.6B | $394.6B | $27.7B | $7.7B |
| Selling expenses | ($249.4B) | ($203.7B) | ($82.8B) | ($23.7B) |
| Administrative expenses | ($298.5B) | ($172.7B) | ($69.1B) | ($18.1B) |
| Non-Operating Income (Expense) | $65.6B | $59.1B | $25.3B | $10.4B |
| Other operating expense | ($55.2B) | ($35.3B) | ($21.0B) | ($7.6B) |
| Income (Loss) from interest in joint ventures | $43.0M | ($13.0M) | ($10.0M) | — |
| Operating result | $143.1B | $42.1B | ($119.8B) | ($31.2B) |
| Agreement on the Regularization of Obligations | $218.1B | — | $197.7B | $18.1B |
| Interest Income | $1.8B | $1.2B | $367.0M | $65.0M |
| Financial costs | ($313.7B) | ($340.4B) | ($319.4B) | ($87.8B) |
| Other financial results | ($65.3B) | ($120.0B) | ($31.3B) | ($1.4B) |
| Net financial costs | ($377.2B) | ($459.2B) | ($350.4B) | ($89.1B) |
| Monetary gain (RECPAM) | $307.3B | $610.4B | $454.6B | $99.6B |
| Income before taxes | $291.3B | $193.3B | $182.2B | ($2.6B) |
| Income tax | ($52.1B) | $78.8B | ($133.8B) | ($14.8B) |
| Income for the year | $239.2B | $272.1B | $48.4B | ($17.5B) |
| Results related to benefit plans | $1.8B | $3.5B | ($1.4B) | ($654.0M) |
| Tax effect of actuarial profit (loss) on benefit plans | ($616.0M) | ($1.2B) | $507.0M | $229.0M |
| Total other comprehensive results | $1.1B | $2.3B | ($940.0M) | ($425.0M) |
| Net Income | $240.4B | $274.4B | $47.4B | ($17.9B) |
| Comprehensive income for the year | $240.4B | $274.4B | — | — |
| Earnings Per Share (Basic) | $273.41 | — | — | -$19.96 |
| Earnings Per Share (Diluted) | $273.41 | — | — | — |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Property, plant and equipment | $4.1T | $3.0T | $1.3T | $395.9B |
| Interest in joint ventures | $202.0M | $121.0M | $57.0M | $21.0M |
| Operating Lease Right-of-Use Asset | $10.6B | $10.5B | $3.5B | $707.0M |
| Other receivables | $526.0M | $124.0M | $3.0M | $3.0M |
| Financial assets at fair value through profit or loss, non current | $53.7B | — | — | — |
| Total non-current assets | $4.2T | $3.0T | $1.3T | $396.7B |
| Inventory | $233.3B | $149.8B | $39.8B | $6.4B |
| Other receivables | $34.5B | $56.7B | $34.0B | $18.7B |
| Accounts Receivable | $496.3B | $362.4B | $66.6B | $28.0B |
| Financial assets at amortized cost | $23.5B | $10.2B | — | — |
| Financial assets at fair value through profit or loss | $565.7B | $363.4B | $82.6B | $28.7B |
| Cash and Cash Equivalents | $207.2B | $23.9B | $9.1B | $1.6B |
| Total current assets | $1.6T | $966.3B | $232.2B | $83.5B |
| TOTAL ASSETS | $5.8T | $4.0T | $1.5T | $480.1B |
| Total Stockholders' Equity | $875.0M | $875.0M | $875.0M | $875.0M |
| Adjustment to share capital | $976.9B | $742.5B | $340.5B | $108.7B |
| Treasury stock | $31.0M | $31.0M | $31.0M | $31.0M |
| Adjustment to treasury stock | 20.9B | 15.9B | 7.3B | 2.3B |
| Additional Paid-In Capital | $13.6B | $10.3B | $4.7B | $1.5B |
| Cost treasury stock | -80.0B | -60.9B | -27.9B | -9.0B |
| Legal reserve | $85.6B | $51.4B | $23.6B | $7.6B |
| Voluntary reserve | $971.6B | $498.1B | $228.7B | $73.5B |
| Accumulated Other Comprehensive Income | ($5.8B) | ($5.3B) | ($3.5B) | ($813.0M) |
| Retained Earnings | $239.2B | $254.1B | ($135.5B) | ($59.0B) |
| TOTAL EQUITY | $2.2T | $1.5T | $438.8B | $125.7B |
| Trade payables | $5.0B | $2.8B | $1.6B | $920.0M |
| Other payables | $337.7B | $187.7B | $158.9B | $17.5B |
| Long-Term Debt | $704.6B | $354.9B | $44.3B | $14.5B |
| Deferred revenue | $139.3B | $108.1B | $13.5B | $3.7B |
| Salaries and social security payable | $10.5B | $6.2B | $2.4B | $771.0M |
| Benefit plans | $17.0B | $13.6B | $4.9B | $1.9B |
| Deferred Tax Liabilities, Non-Current | $840.6B | $687.8B | $478.7B | $110.9B |
| Warranty and Other Provisions | $24.0B | $21.5B | $9.9B | $5.6B |
| Total non-current liabilities | $2.1T | $1.4T | $714.3B | $155.7B |
| Trade payables | $527.0B | $758.8B | $240.9B | $179.8B |
| Other payables | $126.7B | $112.6B | $29.3B | $6.3B |
| Borrowings | $479.7B | $112.5B | $50.7B | $184.0M |
| Deferred revenue | $753.0M | $104.0M | $50.0M | $44.0M |
| Salaries and social security payable | $87.7B | $61.9B | $26.6B | $9.3B |
| Benefit plans | $2.0B | $1.4B | $578.0M | $234.0M |
| Income tax payable | $93.6B | — | — | — |
| Tax liabilities | $115.8B | $34.3B | $4.6B | $1.3B |
| Provisions | $24.5B | $8.1B | $2.9B | $1.5B |
| Total current liabilities | $1.5T | $1.1T | $355.7B | $198.8B |
| TOTAL LIABILITIES | $3.5T | $2.5T | $1.1T | $354.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Profit or Loss | $239.2B | $272.1B | $48.4B | ($17.5B) |
| Depreciation Expense | $203.3B | $154.6B | $82.8B | $18.2B |
| Depreciation of right-of-use assets | $7.4B | $10.6B | $2.8B | $1.0B |
| Loss on disposals of property, plant and equipment | $7.6B | $4.2B | $889.0M | $348.0M |
| Net accrued interest | $303.7B | $332.8B | $318.5B | $87.6B |
| Income from customer surcharges | ($31.7B) | ($23.0B) | ($14.0B) | ($3.0B) |
| Exchange difference | $63.7B | $14.0B | $48.3B | ($1.5B) |
| Income tax | $52.1B | ($78.8B) | $133.8B | $14.8B |
| Allowance for the impairment of trade and other receivables | $23.2B | $9.5B | $6.7B | $2.2B |
| Adjustment to present value of receivables | $4.3B | $5.8B | $1.4B | $338.0M |
| Provision for contingencies | $26.7B | $23.7B | $9.7B | $4.4B |
| Recovery of penalties | ($17.8B) | — | — | — |
| Changes in fair value of financial assets and financial liabilities | ($81.5B) | $54.7B | ($33.8B) | — |
| Accrual of benefit plans | $6.7B | $13.7B | $2.4B | $1.2B |
| Result from the cancelattion of Corporate Notes | $52.0M | — | — | — |
| Income from non-reimbursable customer contributions | ($4.4B) | ($760.0M) | ($157.0M) | ($62.0M) |
| Other financial costs | $78.8B | $42.0B | $15.3B | — |
| Income (Loss) from interest in joint ventures | ($43.0M) | $13.0M | $10.0M | $6.0M |
| Agreement on the Regularization of Obligations | ($218.1B) | — | ($197.7B) | ($18.1B) |
| Monetary gain (RECPAM) | ($307.3B) | ($610.4B) | ($454.6B) | ($99.6B) |
| Change in Accounts Receivable | ($123.3B) | ($282.2B) | ($29.8B) | ($6.9B) |
| Decrease (Increase) in other receivables | $55.3B | ($16.3B) | ($3.8B) | ($12.0B) |
| Change in Inventory | ($31.6B) | ($46.4B) | ($11.0B) | ($2.3B) |
| Increase in deferred revenue | $27.5B | $77.0B | $940.0M | $2.1B |
| Change in Accounts Payable | ($551.0B) | $315.0B | $110.4B | $61.8B |
| Increase in salaries and social security payable | $30.1B | $39.1B | $19.0B | $5.2B |
| Decrease in benefit plans | ($1.1B) | ($563.0M) | ($470.0M) | ($267.0M) |
| Increase in tax liabilities | $47.3B | $25.7B | $3.3B | — |
| Increase (Decrease) in other payables | $387.7B | ($66.2B) | $13.1B | ($1.3B) |
| Decrease in provisions | ($4.8B) | ($4.1B) | ($867.0M) | ($537.0M) |
| Net cash flows generated by operating activities | $192.0B | $245.9B | $71.5B | $35.4B |
| Payment of property, plant and equipment | ($368.5B) | ($360.0B) | ($119.8B) | ($31.7B) |
| (Purchase) Sale net of Mutual funds and negotiable instruments | ($59.9B) | ($207.2B) | $40.7B | — |
| Adquisition of minority interest | ($33.1B) | — | — | — |
| Net cash flows used in investing activities | ($461.5B) | ($567.2B) | ($79.1B) | ($37.4B) |
| Proceeds from borrowings | $694.3B | $349.3B | $17.4B | $4.4B |
| Payment of borrowings | ($136.7B) | ($22.5B) | ($1.0B) | ($6.1B) |
| Payment of lease liability | ($12.3B) | ($12.1B) | ($6.5B) | ($1.2B) |
| Payment of interests from borrowings | ($92.1B) | ($30.7B) | ($1.9B) | ($896.0M) |
| Payment of Corporate Notes issuance expenses | ($14.6B) | ($18.8B) | ($736.0M) | ($565.0M) |
| Cancelattion of Corporate Notes | ($3.6B) | — | — | ($472.0M) |
| Net cash flows generated by financing activities | $435.1B | $265.2B | $7.3B | ($4.8B) |
| Increase (Decrease) in cash and cash equivalents | $165.6B | ($56.2B) | ($251.0M) | ($6.7B) |
| Cash and cash equivalents at the beginning of the year | ($41.5B) | $19.9B | $5.1B | $6.2B |
| Exchange difference in cash and cash equivalents | $17.9B | $5.2B | — | — |
Empresa Distribuidora y Comercial Norte SA ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.