Slide 1: Fourth Quarter & Full Year Consolidated results
Fourth Quarter & Full Year Enel Américas Consolidated results March 1st, 2024
Slide 2: Key highlights and operational performance
Q4 & FY 2023 Key highlights and operational performance Aurelio Bustilho CEO
Slide 3: Key highlights
Key highlights Operational Financial Corporate Profitability performance results simplification 1.8 GW US$ 4.5 bn1 US$ 0.9 bn Anti-trust approval Additional capacity +9% vsPY Group net income Dx assets in Peru Continued renewables FY2023 Adjusted EBITDA In line with target, Assets disposal plan on e
Slide 4: FY 2023 Enel Américas results
FY 2023 Enel Américas results Improvements across the board of our managed perimeter FY’22 FY’23 % Installed capacity (GW) 12.9 14.6 +14% Net production (TWh) 43.8 48.9 +12% Energy sales (TWh) 75.5 73.5 -3% Grid customers (mn) 23.3 23.8 +2% Energy sales (TWh) 107.6 112.0 +4% Smart meters (th) 295 70
Slide 5: Generation operational highlights
Generation operational highlights Solid growth in RES net production; emission-free production reached 85% Net installed capacity (GW) Net production (TWh) -5% -12% 0.2 53.4 50.6 Net production 1.6 0.6 Hydro 12.9 12.4 2.3 4.7 0.0 0.6 0.2 11.3 Wind & Solar 5% 2% 2.7 0.3 13.5 14.7 CCGT 3% 3.1 0.9 3.6
Slide 6: Renewables development
Renewables development ~1.8 GW of add. capacity in 2023 in Brazil, Colombia, Peru and Panama FY CAPEX breakdown Projects in execution Gross pipeline1 (GW) 3% 2% 23% 23% Brazil US$ Colombia 0.8 ~20 1.3 bn Peru GW C. America ~1 ~26 72% ~48 77% 0.8 2 Gross Early Stage BESS Mature In Capacity added in 2
Slide 7: Grids operational highlights
Grids operational highlights Digitalization efforts and increase in net RAB to drive future growth and profitability Electricity distributed (TWh) Grid customers (mn) Quality indicators1,2,3 SAIDI (hours) SAIFI (times) +4% +460k FY 2022 FY 2023 FY 2022 FY 2023 122.6 23.3 23.8 Argentina 13.9 19.5 4.8
Slide 8: Gross CAPEX
Gross CAPEX Completing renewable projects in core countries, continued focus on Grids CAPEX by country CAPEX by business1 Asset development2 CAPEX by business 2% 1% 11% 6% 14% Q4 2023 41% 22% US$ 772 mn US$ 772 mn US$ 409 mn (-45% YoY) (-45% YoY) (-56% YoY) 65% 53% Argentina 85% Brazil Grids 1% Colo
Slide 9: Economic and financial performance
Q4 & FY 2023 Economic and financial performance
Slide 10: Financial highlights (US$ mn)
Financial highlights (US$ mn) Adjusted EBITDA increase mainly due to Dx Brazil and Renewables Adjusted EBITDA Q4 2022 Q4 2023 Δ% YoY FY 2022 FY 2023 Δ% YoY FY 2023 increase mainly due to Dx Brazil on tariff indexation and Reported EBITDA 1,239 849 -31.5% 4,169 3,749 -10.1% Renewables on higher produ
Slide 11: EBITDA breakdown: Q4 2023 results
EBITDA breakdown: Q4 2023 results Decrease mainly explained by hydrology in Colombia and Central America EBITDA evolution by business line (US$ mn) EBITDA by country (US$ mn) -32% 4% 1,239 -13% 33% Brazil (297) 1,024 US$ Colombia 942 849 mn C. America 849 175 (103) 821 64% (14) (4) 28 11% 1 Grids Q4
Slide 12: EBITDA breakdown: FY 2023 results
EBITDA breakdown: FY 2023 results Generation and Grids lead adjusted EBITDA expansion EBITDA evolution by business line (US$ mn) EBITDA by country (US$ mn) -10% 3% +10% 4,440 4,169 Brazil 3,893 3,749 691 37% (638) 244 (58) (144) US$ Colombia 3,532 175 3,749 mn C. America 60% 9% Grids US$ Generation
Slide 13: Cash flow (US$ mn)
Cash flow (US$ mn) Strong CAPEX investment to drive future growth 3,749 (615) (643) US$ 1,508 mn growth CAPEX (869) 1,622 (2,728) (1,107) 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses FY 2022 4,169 (442) (465) (589) 2,674 (3,167) (493) 2022 figures include assets held for sale.
Slide 14: Debt (US$ mn)
Debt (US$ mn) Lower net debt due to Peru deconsolidation Gross and net debt1 Net debt evolution Gross debt breakdown Dec. 23 - 5% +1% 345 16% 6,868 1,107 (1,638) 6,543 Currency (866) 726 BRL 8,046 8,105 US$ 54% COP 1,178 1,562 8.1 bn 30% USD 6,868 6,543 1% Dec. 22 2 Dec. 23 Dec. 22 FCF Dividend Extr
Slide 15: Closing remarks
Closing remarks Completing renewable projects in core countries, continued focus on Grids CAPEX Ordinary Solid economics results, paired with a sound financial position to execute our Shareholders’ investment plan Meeting to be held on April 2024 Assets disposal plan on track, with anti-trust approv
Slide 16: Annexes
Q4 & FY 2023 Annexes ry Cl
Slide 17: Current scenario
Current scenario Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q42 ∆% FY2 December December ‘23 vs ‘22 ‘23 vs ‘22 2022 2023 -3.6% Argentina December December Argentina -138
Slide 18: Regulation Update Q4 2023
Regulation Update Q4 2023 • Resolution ENRE 573/2024 – On February 2024, the regulator published the new tariff charts to be applied, which incorporates an average increase of 323% for the VAD. • Resolution SE 02/2024 – The Chocón concession term is extended for an additional 60 days. This extension
Slide 19: Operating exhibits
Operating exhibits Net installed capacity & Total net production: Breakdown by source and geography Net installed capacity (MW) MW Hydro Wind Solar Oil-Gas CCGT Coal Total Argentina 1,328 0 0 0 0 0 1,328 Brazil 1,272 3,312 1,384 0 0 0 5,968 Colombia 3,097 0 716 0 0 226 4,039 Peru 793 309 302 721 463
Slide 20: Operating exhibits
Operating exhibits Distribution companies Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country LTM (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,658,041 18,060 19.5 7.9 16.8% Buenos Aires, Argentina 3,309 2024 Enel Dx Rio 3,084,384 13,580 8.5 4.2 19.7
Slide 21: Operating exhibits
Operating exhibits Enel X & Retail Enel X Retail Dec. 2022 Dec. 2023 Δ% Charging points1 (th) 7.3 9.8 +34% Customers (#) Energy sold (TWh) Street lighting (th) 924 1,112 +20% +14% +10% 26.9 24.4 e-Buses (#) 2,428 3,403 +40% 5,825 5,089 M&R2 contracts (th) 629 1,098 +75% PV3 (MWp installed) 37 53 +44
Slide 22: Financial exhibits
Financial exhibits Reported results Q4 2023 Q4 2022 ∆YoY FY 2023 FY 2022 ∆YoY Revenues 3,080 3,698 -17% 12,888 14,187 -9% Gross Margin 1,168 1,638 -29% 5,216 5,817 -10% OPEX (319) (399) -20% (1,468) (1,648) -11% Reported EBITDA 849 1,239 -31% 3,749 4,169 -10% D&A1 (460) (666) -31% (1,361) (2,530) -4
Slide 23: Financial exhibits
Financial exhibits Effects on EBITDA Q4 2022 Q4 2023 Δ% YoY FY 2022 FY 2023 Δ% YoY Reported EBITDA 1,239 849 -31.5% 4,169 3,749 -10.1% Goiás (53) 0 (192) 0 Fortaleza 0 0 (86) 0 Cien (17) (1) (57) (14) Thermal Gx Argentina (8) 0 (82) (5) Edesur - Debt waiver (220) 0 (220) 0 FX effect 0 (32) 0 125 Per
Slide 24: Generation business results
Generation business results Quarter & YTD results Q4 EBITDA evolution (US$ mn) FY EBITDA by country (US$ mn) 2% -28% 7% -23% 380 355 40% 1,527 273 (-11% YoY) 51% Q4 2022 Q4 2022 Q4 2023 exc. disposals 1 Argentina Colombia Brazil C. America 24 (1) Figures from Generation do not include Holding and El
Slide 25: Grids business results
Grids business results Quarter & YTD results Q4 EBITDA evolution (US$ mn) FY EBITDA by country (US$ mn) -33% 887 -3% 27% 614 594 2,328 (-8% YoY) 73% Q4 2022 Q4 2022 Q4 2023 exc. disposals 1 Brazil Colombia 25 (1) Figures from Grids do not include Holding and Eliminations. Disposals includes Goiás (U
Slide 26: Argentina (US$ mn)
Argentina (US$ mn) Quarter results Generation 1 Grids1 Total 2 Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Revenues 32 -6 <-100% 410 -149 <-100% 441 -154 <-100% Procurements -2 0 <-100% -155 131 <-100% -157 131 <-100% and Services OPEX -18 2 <-100% -71 14 <-100% -89 18 <-100% EBITDA 12 -3
Slide 27: Argentina (US$ mn)
Argentina (US$ mn) YTD results Generation 1 Grids1 Total 2 FY 2022 FY 2023 % FY 2022 FY 2023 % FY 2022 FY 2023 % Revenues 191 42 -78% 1,079 623 -42% 1,270 665 -48% Procurements -10 -4 -63% -663 -481 -27% -675 -487 -28% and Services OPEX -78 -12 -85% -285 -196 -31% -364 -212 -42% EBITDA 104 26 -75% 1
Slide 28: Brazil (US$ mn)
Brazil (US$ mn) Quarter results Generation 1 Grids1 Total 2 Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Revenues 284 279 -2% 2,244 1,860 -17% 2,535 2,179 -14% Procurements -96 -101 5% -1,500 -1,240 -17% -1,597 -1,373 -14% and Services OPEX -24 -33 37% -177 -206 16% -223 -256 15% EBITDA 164
Slide 29: Brazil (US$ mn)
Brazil (US$ mn) YTD results Generation 1 Grids1 Total 2 FY 2022 FY 2023 % FY 2022 FY 2023 % FY 2022 FY 2023 % Revenues 1,289 1,098 -15% 8,631 7,190 -17% 9,716 8,352 -14% Procurements -474 -366 -23% -6,079 -4,712 -22% -6,325 -5,115 -19% and Services OPEX -118 -121 3% -791 -740 -6% -998 -953 -5% EBITD
Slide 30: Colombia (US$ mn)
Colombia (US$ mn) Quarter results Generation 1 Grids1 Total 2 Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Revenues 297 436 47% 404 585 45% 629 968 54% Procurements -129 -307 >100% -236 -363 54% -290 -617 >100% and Services OPEX -28 -29 5% -31 -38 24% -62 -68 11% EBITDA 140 101 -28% 136 184
Slide 31: Colombia (US$ mn)
Colombia (US$ mn) YTD results Generation 1 Grids1 Total 2 FY 2022 FY 2023 % FY 2022 FY 2023 % FY 2022 FY 2023 % Revenues 1,345 1,723 28% 1,770 2,027 15% 2,894 3,549 23% Procurements -510 -848 66% -1,010 -1,254 24% -1,278 -1,899 49% and Services OPEX -89 -97 8% -119 -128 8% -212 -232 9% EBITDA 745 77
Slide 32: Peru (US$ mn)
Peru (US$ mn) Quarter results Generation 1 Grids1 Total 2 Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Q4 2022 Q4 2023 % Revenues 201 205 2% 274 273 0% 474 478 1% Procurements -79 -58 -26% -186 -184 -1% -265 -242 -9% and Services OPEX -26 -28 8% -20 -27 37% -46 -55 20% EBITDA 96 119 24% 68 62 -9% 163 180 10%
Slide 33: Peru (US$ mn)
Peru (US$ mn) YTD results Generation 1 Grids1 Total 2 FY 2022 FY 2023 % FY 2022 FY 2023 % FY 2022 FY 2023 % Revenues 738 825 12% 1,034 1,121 8% 1,772 1,946 10% Procurements -255 -311 22% -693 -751 8% -948 -1,062 12% and Services OPEX -91 -100 10% -73 -93 27% -164 -192 18% EBITDA 393 414 5% 268 277 4
Slide 34: Central America (US$ mn)
Central America (US$ mn) Quarter & YTD results Central America Q4 2022 Q4 2023 % FY 2022 FY 2023 % Revenues 92 88 -5% 306 322 5% Procurements -17 -54 >100% -93 -170 84% and Services OPEX -12 -3 -73% -38 -40 5% EBITDA 63 31 -51% 176 111 -37% Net Income 39 12 -69% 101 -30 <-100% Gross Capex 108 12 -89
Slide 35: Financial position
Financial position Liquidity, debt maturities and credit profile Liquidity position Debt maturities (US$ bn) Credit profile Average maturity of Baa2/Stable 3.2 years (December 2023) 2.7 2.8 BBB-/Stable 48% (February 2023) 52% US$ 3.0 bn 1.5 1.1 BBB+/Stable (July 2023) 2024 2025 2026 After 2026 AA/St
Slide 36: ESG raters and rankings
ESG raters and rankings AAA 4.2 4.4 4.4 93 AA AA AA AA 3.5 3.8 90 81 83 84 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Scale from CCC to AAA Scale from 0 to 5 Scale from 0 to 100 83 85 87 84 67 67 A- A- 81 53 56 B 47 B- C 2019 2020 2021 2022 2023 2019 2020 2021 2022 20
Slide 37: Corporate governance structure
Corporate governance structure Shareholders’ meeting Audit firm 43% BoD’s composition Board of Directors (7 members) 57% Executive Independent Functions: Directors Committee Audit committee Sustainability committee Related parties' transactions 37
Slide 38: Board composition
Board composition Board of Directors Board of Directors’ diversity Borja Acha Besga Chair 43% 29% Francesca Gostinelli Director 14% Age Gender diversity 14% diversity Giulia Genuardi Director 29% 71% 41-50 51-60 Male Female 61-70 over 70 José Antonio Vargas Director 14% 14% Directors’ Committee (C)
Slide 39: Enel Américas - Policies, principles and codes
Enel Américas - Policies, principles and codes Ethics, Integrity, Human Rights, and Diversity • Ethical code • Zero Tolerance Plan for Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Compliance Program for Free Competition Regulations • Human
Slide 40: Disclaimer
Q4 & FY 2023 Consolidated results Disclaimer This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its
Slide 41: Thank you.
Q4 & FY 2023 Consolidated results Contact us Contacts Email - ir.enelamericas@enel.com Channels Website Mobile App www.enelamericas.com Enel Américas Rafael de la Haza Head of Investor Relations Download App iOS Android Investor Relations team Jorge Velis Nicolás Gracia Claudio Ortiz Francisco Basau
Slide 42: CNC
CNC