Central Puerto Q1 2026 Earnings Call: Complete Transcript

Central Puerto (NYSE: CEPU ) released first-quarter financial results and hosted an earnings call on Wednesday. Read the complete transcript below. APIs provide real-time access to earnings call transcripts and financial data. Visit to learn more.

A. 4% year-on-year. 6 million, driven by higher contracted and spot revenues, and the contribution of new generation assets like Brigadier Lopez combined cycle and solar farms. The company changed its functional currency to US dollars starting January 1, 2026, affecting financial reporting.

Strategic initiatives include a 30-year concession renewal for the Piedra del Aguila hydro asset and progress on the BESS project, with 60% of site works completed. Central Puerto holds the number one market share in MATP for contracted capacity segments and plans to shift more spot market sales to contracted PPAs in 2026. , aiming to develop oil-focused blocks in the Vaca Muerta region. Future outlook is positive, with expectations of continued operational excellence, financial performance, and market normalization providing further revenue upside.

Full Transcript OPERATOR (Operator) Good morning, ladies and gentlemen. Welcome to Central Puerto's first quarter of 2026 earnings conference call. A slide presentation is accompanying today's webcast and will also be available on the Investors section of the company's website, All participants will be in a listen-only mode during the presentation. After that, there will be an opportunity to ask questions.

Please note this event is being recorded. If you do not have a copy of the press release, please refer to the Investor Relations Support section on the Company's corporate website. In addition, a replay of today's call will be available in upcoming days by accessing the webcast link at the same section of the Central Puerto's website. Our host today will be Mr.

Fernando Boone, Central Puerto CEO; Mr. Enrique Terraneo, the company's CFO; Mrs. Maria Laura Feller, Head of Investor Relations; and Mr. Alejandro Diaz Lopez, Head of Corporate Finance.

Maria Laura, please go ahead. Maria Laura Feller, Head of Investor Relations Thank you very much. Good morning and welcome everyone. We are joining you today from Buenos Aires with our management team to report on the results of the first quarter of 2026 and to answer any questions you may have.

Before we begin, I would like to remind everyone that today's presentation, as referenced on slide 2, contains forward-looking statements and non-IFRS financial measures including adjusted EBITDA. These statements are based on management's current expectations and are subject to risks and uncertainty. Please refer to the full disclaimer in our slide deck and on our website for further information. The Company has changed its functional currency from Argentine Pesos to US dollars effective January 1, 2026, applicable to 1Q26.

Financial figures for previous quarters are presented in US dollars converted from Argentine Pesos using the reference exchange rate reported by the Argentine Central Bank at the end of each period. With that, let us move to the highlights of the quarter. Turning to Slide 3. The first quarter 2026 was a strong quarter for Central Puerto, characterized by outstanding commercial execution and continued progress in market normalization following Resolution 425.

Let me walk you through our key metrics. 9 million in 1Q25. This result reflects the full benefit of new generation assets, commercial contracting gains, and the normalization of the wholesale electricity market. 7% year on year versus 1Q25, driven by higher contracted and spot revenues.

The contribution of Brigadier Lopez combined cycle and the new solar farms added in 2025. 2% increase quarter on quarter largely reflected by the operation of Solar and Amani, the restoration of Central Costanera combined cycle units, and the addition of new installed capacity. 0 million in BESS construction and maintenance works. 2 million.

8 million. On the credit rating front, we received an upgrade to GPA from Moody's Argentina. From a strategic perspective, the concession renewal of Piedra del Aguila for 30 years to January 2056 is a landmark achievement securing a flagship hydro asset under a new long-term framework. Additionally, our BESS project at the Central Puerto facility is advancing well with 60% of site works completed, 32 concrete pads finished, and phase one of the 132 kV BTR work done.

Market normalization continues under Resolution 425 and Central Puerto has achieved a leading commercial position in the newly established term market. More on that on the next slide. Moving to Slide 4, in the first quarter of 2026, Central Puerto achieved a decisive commercial breakthrough under the new market framework established by Resolution 425. Our contracting performance in the newly established term market we could highlight Central Puerto held the number one