Valia Energía Reports its Full Year 2023 and First Quarter 2024 Unaudited Financial Results

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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 
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

mazonos@valiaenergia.com

Bruno Espejel Del Valle

bespejel@valiaenergia.com

Investors

investors@valiaenergia.com

 

Press Contact:

Miranda Media & PR

Gabriela Jiménez

gabriela.jimenez@miranda-partners.com

 
About Valia Energía
Valia Energía is a portfolio company of Actis, a leading global investor in sustainable infrastructure. In July 2023, Valia Energía completed the acquisition of EVM Energía which consolidated its position as one of the leading independent power generators in Mexico, operating a total of 3.2 GW through seven natural gas-fired generation plants in Tamaulipas, Coahuila and the State of Mexico. For more information, please visit our website: www.valiaenergia.com

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