Mexico City, May 30th, 2024 – Buffalo Energy Mexico Holdings S.A. de C.V. (“BEMH”, “Valia” or “the Company”), a portfolio company of Actis in Mexico, announced today its unaudited financial results for the full year ended December 31, 2023, and first quarter ended March 31, 2024.
Full-Year 2023 Highlights
- Acquisition of EVM Energía, adding 950 MW to Valia’s installed capacity, to reach 3.2 GW
- Pro forma Consolidated Adjusted Gross Margin of US$341 million, 20% annual growth
- Pro forma Consolidated Adjusted EBITDA of US$193 million, 57% annual growth
- The generation assets maintained an average availability factor of 92%
- Valia’s FY generation output was 22 TWh: 70% generated by Sunset, 30% by Sunrise
- SIN’s average wholesale energy price reached US$49 per MWh
- Mexico’s power demand increased by 4% during the year, 50 bps over GDP
- The average annual cost of gas decreased by 60% YoY.
First Quarter 2024 Highlights
- Debut in international debt market with the issuance of VALIAE bonds for US$530 million
- Consolidated Adjusted Gross Margin of US$81million, 5% YoY decrease
- The generation assets maintained an average availability factor of 89%
- Consolidated Adjusted EBITDA of US$48 million, 12% YoY increase
- SIN’s average wholesale energy price reached US$37 per MWh
- Valia’s 1Q24 generation output was 5 TWh: 68% generated by Sunset, 32% by Sunrise
- Mexico’s power demand increased by 1% compared to 1Q23
- The average annual cost of gas decreased by 20% YoY.
Conference Call Details
Date: Friday, May 31, 2024
Time: 10:00 a.m. Mexico City Time (12:00 p.m. ET)
Presented by:
- CEO- Narcís de Carreras
- CFO – Fernando Suárez
- IRO – Mauricio Azoños
Conference ID: 833 2251 4376
Webinar: https://us02web.zoom.us/webinar/register/WN_nGIM38IzRcm7mWb6SeN01w
Dial In:
- Mexico: +52 558 659 6002
- New York: +1 646 558 8656
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact:
Mauricio Azoños Beverido
Bruno Espejel Del Valle
Investors
Press Contact:
Miranda Media & PR
Gabriela Jiménez
gabriela.jimenez@miranda-partners.com