AES said its net loss for 2023 narrowed from $505 million to $182 million, a decrease of $323 million, while adjusted EBITDA, a non-GAAP measure, fell $119 million from $2,931 million to $2,812 million.

1. 01

   AES said its net loss for 2023 narrowed from $505 million to $182 million, a decrease of $323 million, while adjusted EBITDA, a non-GAAP measure, fell $119 million from $2,931 million to $2,812 million.

2. 02

   The company said its operating margin for 2023 decreased $44 million (2%) from 2022, while interest expense rose $202 million to $1.3 billion and interest income rose $162 million to $551 million.

3. 03

   AES said goodwill impairment expense declined from $777 million in 2022 to $12 million in 2023, while asset impairment expense rose $304 million to $1.1 billion.

4. 04

   The company said its net foreign currency transaction losses were $359 million in 2023 ($77 million in 2022), income tax expense was $261 million, and its effective tax rate was 251% (2022: (157)%).

Key figures

Fiscal year ended December 31, 2023

Revenue

$12.7B

Net income

$249M

EPS

$0.35

Gross profit

$2.5B

Operating cash flow

$3.0B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.