AES said net income for 2024 was $802 million, an increase of $984 million from a net loss of $182 million in 2023. The company cited lower impairments, unrealized foreign currency gains, and the gain on sale of AES Brasil as factors in the increase.

1. 01

   AES said net income for 2024 was $802 million, an increase of $984 million from a net loss of $182 million in 2023. The company cited lower impairments, unrealized foreign currency gains, and the gain on sale of AES Brasil as factors in the increase.

2. 02

   AES said Adjusted EBITDA, a non-GAAP measure, for 2024 decreased from $2,828 million to $2,639 million, a decline of $189 million. The company cited record-breaking drought conditions and outages in Colombia at the Renewables SBU and lower margins at the Energy Infrastructure SBU as main drivers.

3. 03

   AES said asset impairment expense for 2024 was $374 million, a decrease of $693 million (65%) from $1.1 billion in 2023. The company attributed the decrease mainly to higher prior-year impairments, including a $198 million impairment at Warrior Run.

4. 04

   AES said interest expense for 2024 increased to $1,485 million, a rise of $166 million (13%), while interest income decreased to $381 million, a decline of $170 million (31%).

Key figures

Fiscal year ended December 31, 2024

Revenue

$12.3B

Net income

$1.7B

EPS

$2.36

Gross profit

$2.3B

Operating cash flow

$2.8B

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.