Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Q1 2024 Earnings Presentation
28 slides from Enel Chile Sa's earnings presentation, May 2, 2024
Slide 1: First quarter Enel Chile - Consolidated results
First quarter Enel Chile - Consolidated results May 2, 2024
Slide 2: Key highlights of the period
Key highlights of the period Portfolio Regulatory Business management context profitability PEC 03’ law was approved Remarkable performance of in the Congress 2024 EBITDA and Net income hydro generation continues results are in line with 2024 New distribution tariff 2020-2024 projections Regulated s
Slide 3: Better generation mix and positive hydrology continue to improve our energy balance
Better generation mix and positive hydrology continue to improve our energy balance Hydro generation Net production and Energy balance (TWh) Historic Enel Chile hydro generation Net production Portfolio mix evolution1 Spot performance (TWh) 2007 13.2 +19% 2008 13.8 8.5 8.5 2009 14.9 6.1 7.8 7.8 2010
Slide 4: A solid portfolio focused on quality and committed to boosting integrated margin offerings and profitability
A solid portfolio focused on quality and committed to boosting integrated margin offerings and profitability Integrated offering – Main KPIs Grids main KPIs Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 REN + BESS capacity 6.4 6.5 +1% Charging points2,3 2.3 3.0 +28% Energy distributed6 3.6 3.7 +4%
Slide 5: The energy regulatory framework continues to evolve; important stages ahead
The energy regulatory framework continues to evolve; important stages ahead Stabilization energy mechanism (PEC 3) Distribution regulatory cycle Receivables process 2020-2024 Tariff review process (Estimated timeline) (Estimated timeline) Apr 2024 Apr 2024 Q2 2024 Q2 2024 Q3 2024 Dec 2022 Apr 2023 F
Slide 6: First quarter 2024 in line with projected numbers for the year
First quarter 2024 in line with projected numbers for the year Economic & financial performance1 EBITDA Net income FFO (USD mn) (USD mn) (USD mn) Stable +6% +34% 294 293 157 148 8,5 114 85 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 1. Comparisons between periods in the Financial Income Statemen
Slide 7: Sustainable capex to continue improving portfolio flexibility boosting the energy transition
Sustainable capex to continue improving portfolio flexibility boosting the energy transition CAPEX by business and by nature1 REN and BESS development CAPEX1 Q1 2024 Q1 2024 Capex allocation by 5% quarter (2024) 12% 22% 19% 3% Q1 25% 179 179 96 USD mn 9% 30% USD mn USD mn 38% 58% 73% yoy Q2 27% +65%
Slide 8: Q1 2024 EBITDA in line with projected numbers for the year
Q1 2024 EBITDA in line with projected numbers for the year EBITDA evolution (USD mn)1 Higher PPA sales mainly related to indexation in the free market and higher Stable volumes in regulated market Lower gas margin due to exceptional trading activities carried out in 2023 294 47 4 293 40 (1) 53 Bette
Slide 9: Q1 2024 Net income in line with projected numbers for the year
Q1 2024 Net income in line with projected numbers for the year Net income evolution (USD mn)1 Higher D&A mainly due to higher renewable projects in operation in Q1 2024 +6% 19 2 1 157 148 Positive financial results mainly related to PEC 0 (13) 2.0 interest recognition Taxes positive variation mainly
Slide 10: Q1 2024 FFO higher than 2023 figures due to lower PEC effects
Q1 2024 FFO higher than 2023 figures due to lower PEC effects FFO evolution (USD mn)1 Stabilization mechanism accounts continue 293 playing an important role in Q1 2024 FFO 15 (105) (29) 114 (26) (34) Working capital results as expected EBITDA Stabilization PEC Working Income Financial FFO mechanism
Slide 11: Sound liquidity to support our short-term capital needs
Sound liquidity to support our short-term capital needs Debt and liquidity Gross debt (USD mn)1 Liquidity position (USD bn) Debt maturities (USD bn)1 Maturities/Gross Debt -1% 22% 4,408 4,384 18% 5% 9% 10% 2.6 642 450 2.1 Already paid 1.8 USD bn in April 3,765 3,934 8,5 0.8 0.5 0.4 0.2 0.4 78% 0.3 0
Slide 12: Closing remarks
Closing remarks 1 2 3 Strong operating Continue to and financial Sound liquidity monitor performance position fulfills evolution of the in the quarter our short-term regulatory supports FY needs framework targets for Dx and Gx 12
Slide 13: Annexes
First quarter 2024 Annexes ene
Slide 14: First Quarter Profit & Loss (USD mn)
First Quarter Profit & Loss (USD mn)1 Q1 2024 Q1 2023 ∆ yoy Reported EBITDA 293 294 0% D&A (75) (59) +28% Bad Debt (4) (7) -46% Impairment 0 0 - Reported EBIT 214 227 -6% Financial expenses 3 (18) -118% Results from equity investments 1 3 -77% Reported EBT 218 212 +3% Income taxes (48) (50) -3% Mino
Slide 15: Consolidation of our renewable matrix throughout the country
Consolidation of our renewable matrix throughout the country Net installed capacity 5 Central zone 6.0% 77% PMGD 83 MW REN + BESS El Manzano3 99 MW 17.3% +67 MW BESS 0.4% 8.5 41.4% Los Cóndores 150 MW Southern zone GW Don Humberto 80 MW Renaico II 144 MW +67 MW BESS 34.9% La Cabaña4 106 MW Hydro CCG
Slide 16: Commodities and Spot price outlook
Commodities and Spot price outlook Henry Hub (USD/mmbtu) Brent (USD/bbl) API 2 (USD/Ton) Q1 2024: 2.2 Q1 2024: 83 Q1 2024: 105 Q1 2023: 3.4 Q1 2023: 81 Q1 2023: 148 84 85 85 86 4.7 83 76 80 75 94 91 168 138 80 138 140 119 110 3.1 2.5 2.0 2.1 2.2 2.6 2.5 2.6 2.8 3.2 2.7 116 118 123 136 124 118 82 83
Slide 17: Hydrology outlook
Hydrology outlook Historic Enel Chile hydro generation (TWh) Rainfall in our most relevant basins1 Rapel Maule 700 2,200 (9% of consolidated Gx) (34% of consolidated Gx) 2007 13.2 650 2,000 600 1,800 2008 13.8 Cumulated rainfall (mm) 550 Cumulated rainfall (mm) 500 1,600 2009 14.9 450 1,400 400 1,20
Slide 18: Enel Chile is the largest Utility player in Chile in installed capacity and number of clients
Enel Chile is the largest Utility player in Chile in installed capacity and number of clients Integrated commercial Leading the renewable sector in Chile Grid infrastructure strategy supported by to enable electrification solid and diversified assets REN+BESS 6.5 GW Net installed capacity Enablers o
Slide 19: Glossary
Glossary Term Definition Term Definition AGM Annual general meeting KPI Key performance indicator API2 Coal price reference indicator LNG Liquefied natural gas BESS Battery energy storage system LTM Last twelve months CCGT Combined cycle gas turbine MPC Spanish acronym for client protection mechanis
Slide 20: Credit Rating - Enel Chile and Enel Generación Chile
Credit Rating - Enel Chile and Enel Generación Chile International market Chilean market Enel Chile Enel Chile Standard & Poor’s Fitch Ratings Fitch Ratings Feller Rate BBB Stable BBB+ Stable AA+(cl) Stable AA(cl) Stable Enel Generación Enel Generación Standard & Poor’s Fitch Ratings Fitch Ratings F
Slide 21: Organization structure
Organization structure Enel Chile shareholders1 64.9% 1.1% 6.9% Chile 22.8% Pension Funds Market Cap2 Institutional Investors USD 4.2 bn ADR’s 4.3% Enel SpA 64.9% Others 100.0% 93.5% 99.1% 100.0% Green Power Chile Generación Chile Distribución Chile Enel X Chile 1. As of March 31, 2024 2. Market cap
Slide 22: Management of the Company
Management of the Company G. Turchiarelli Chief Executive Officer R. Puentes Procurement G. Turchiarelli Chief Financial Officer (a.i) A. Barrios ICT Real Estate and L. Schnaidt People and Organization M. Rinchi General Services D. Gomez Regulatory Karla Zapata Enel X Chile (CEO) J. Díaz Audit J. St
Slide 23: Corporate governance structure
Corporate governance structure Shareholders’ meeting Audit firm 43% BoD’s composition Board of Directors (7 members) 57% Executive of Enel SpA Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 23
Slide 24: Board composition
Board composition Board of Directors Board of Directors’ diversity Marcelo Castillo Chair Monica Girardi Director 43% Gender diversity 57% Isabella Alessio Director Male Female Salvatore Bernabei Director Directors’ Committee (C) María Teresa Vial1 43% Director Tenure 57% Nationality 43% diversity d
Slide 25: Sustainability raters and rankings
Sustainabilty raters and rankings1 88 88 88 86 4.6 4.4 4.5 84 A- AA AA AA AA A- A 3.2 3.4 B 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2021 2022 2023 2019 2020 2021 2022 2023 Scale from 0 to 100 Scale from D- to A Scale from CCC to AAA Scale from 0 to 5 89 88 B 68 68 -B 83 54 57 B- -B 49 77 C
Slide 26: Policies, principles and codes
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 Rights Policy •
Slide 27: Contact us
First Quarter 2024 consolidated results Contact us Contacts Email ir.enelchile@enel.com Channels – Follow us Isabela Klemes Head of Investor Relations Enel Chile Website Enel.cl Investor Relations team Catalina González Carla Rojas Download the investor relations app Francisco Basauri - ESG iOS Andr
Slide 28: Disclaimer
First Quarter 2024 Results Disclaimer This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regarding