Mexico City, August 27, 2024 – Buffalo Energy Mexico Holdings S.A. de C.V. (“BEMH”, “Valia Energía”, “Valia”, or “the Company”), a leading private energy producer in Mexico, announced today its unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Highlights
- The Sistema Interconectado Nacional’s power demand grew 4.3% YoY;
- Growth was driven by excess demand mainly due to weather conditions.
- Generation was also constrained; therefore, the average Reserve Margin fell to 9.2% from 15.7% in Q2 2023.
- LMPs averaged $110.83 per MWh in Q2 2024, more than doubling from $50.91 per MWh in Q2 2023.
- Valia’s fleet achieved 89.5% average availability, with Sunrise improving 2.1% YoY, reaching 97.6%.
- Adjusted Gross Profits increased 10.4% compared to Q2 2023, reaching $77.1 million.
- The Sunrise portfolio contributed 51% and Sunset the remaining 49%.
- Adjusted EBITDA increased 3.0% YoY from $57.7 million in Q2 2023 to $59.5 million in Q2 2024.
- On July 10, Valia released its first Corporate Sustainability Report, “The Power of Change”.
Conference Call Details
Date: Wednesday, August 28, 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: 817 2793 4432
Webinar: https://us02web.zoom.us/webinar/register/WN_YlYkiMjTQD2509zwAykYPw
Dial In:
- Mexico: +52 558 659 6002
- New York: +1 646 558 8656
Investor Relations Contact:
Mauricio Azoños Beverido
Bruno Espejel Del Valle
Investors
Media Contact:
Miranda Media & PR
Gabriela Jiménez
gabriela.jimenez@miranda-partners.com