Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Q1 2022 Earnings Presentation
35 slides from Enel Chile Sa's earnings presentation, May 3, 2022
Slide 1: First Quarter Consolidated results
First Quarter Consolidated results May 3, 2022
Slide 2: Key highlights, strategy updates and operational performance
First Quarter 2022 Key highlights, strategy updates and operational performance Giuseppe Turchiarelli CFO
Slide 3: Key highlights of the period
INTERNAL Key highlights of the period Value for Extraordinary Decarbonization Portfolio Management Shareholders operation +0.2 GW of Argentine gas AGM approved EGM approved renewables fully available 2021 final the e-mobility projects during Q1 2022 dividend of business connected into CLP$0.26/shr c
Slide 4: Challenging context, swap actions to strengthen our portfolio
INTERNAL The challenging context remains, but we have been able to take swap actions to strengths our portfolio… Enel Chile hydroelectric’ Gas supply overview System main indicators cumulated energy (GWh) Enel Chile gas consumption Avg. Spot Quillota 220kV 8 Q1 2022 (USD/MWh) MMm3/d 6 4 Q1 2022 95.2
Slide 5: Renewable expansion core to bringing flexibility toward net zero
INTERNAL …and our renewable expansion will be core to bringing additional flexibility toward net zero Net installed capacity1 71% +178 MW New capacity 4% Renewable connected 7% Valle del Sol 163 MW 18% Finis Terrae 8.1 44% 12 MW GW (partial connection) Caracoles PMGD 3 MW 27% -24 MW Sold thermal cap
Slide 6: Digitized and resilient grid key to a Net Zero future
INTERNAL A digitized and resilient grid is key to build a Net Zero future through electrification and circular cities… Energy distributed (TWh)1 Main digitization KPIs Q1 2021 Q1 2022 +5% +6 pp Clients digital 80 86 Interactions (%) 4.1 +2 pp 3.9 Digital payments 76 78 (%) -13% SAIDI2 - Dx 155 134 (
Slide 7: Beyond commodity strategy supports clients' decarbonization and margin protection
INTERNAL …and the beyond commodity strategy will support client´s decarbonization and our margin protection Main highlights Enel X main KPIs Q1 2021 Q1 2022 +85% Charging Points1-2 858 1,586 (public and private) E-Mobility E-Industries E-City +225% (Stewardship) Electric buses1-3 493 1,600 +14% Carv
Slide 8: Business financial performance
First Quarter 2022 Business financial performance
Slide 9: 2022 Adjusted Financial highlights (USD mn)
INTERNAL 2022 Adjusted Financial highlights (USD mn)1 EBITDA2 Net Income3 CAPEX FFO Tariff in transmission Higher EBITDA and Renewable’ 2021 FFO includes business, PPAs indexation better financial result deployment in line with 159 USDmn of PEC and volumes lead to a drove the period the strategy fac
Slide 10: Sustainable capex plan
INTERNAL Sustainable capex plan CAPEX aligned with Enel Chile main goals Q1 2022 Capex by business and by nature1 Q1 2022 Development CAPEX1 Capex allocation by 9% 5% Quarter (2022) 20% Q1 14% 17% 167 167 123 7% USD mn USD mn USD mn Q2E 29% -31% yoy -31% yoy -41% yoy 73% 74% Q3E 28% 95% Q4E 29% Netw
Slide 11: Q1 2022 Adjusted EBITDA evolution
INTERNAL Q1 2022 Adjusted EBITDA evolution Results mainly driven by indexation coming from commodities and FX rates EBITDA evolution (USD mn)1 Main KPIs Q1 2021 Q1 2022 yoy +15% Portfolio Mix Gx: +14 USD mn Hydrology 2.1 1.8 -11% (TWh) 12 82 8 Gx Sales3 6.3 8.1 +27% (TWh) 20 10 226 197 Energy (87) 3
Slide 12: Main business breakdown: Generation
INTERNAL Main business breakdown Generation business EBITDA performance Net production (TWh) Q1 2022 Energy Balance (TWh) Adjusted EBITDA (USD mn)3 Energy Balance reached 8.1 TWh +15% an increase of +27% yoy +4% Sourcing (TWh) Energy Sales (TWh) 5.2 4.5 1.0 36% 35% 0.8 0.5 0.6 0.3 180 0.1 172 64% 65
Slide 13: Main business breakdown: Networks
INTERNAL Main business breakdown Networks business EBITDA performance Distribution & Transmission Main period KPIs EBITDA (USD mn) Tariff Review Q1 2021 Q1 2022 +5% Energy distributed 3.9 4.1 +71% (TWh)1 Tariffs decree 56 -13% expected on H2 2022 SAIDI2 - Dx Transmission (min.) 155 134 13 2020-23 7%
Slide 14: Financial results
First Quarter 2022 Financial results
Slide 15: Adjusted Net Income
INTERNAL Adjusted Net Income USD mn1 +41% Higher EBITDA results mainly due to networks business 29 11 89 (3) (2) (9) D&A reflects mainly new renewable 63 connections to the grid Lower financial expenses mainly due to the factoring cost of the PEC account booked in Q1 2021 Q1 EBITDA D&A2 Financial Ta
Slide 16: FFO
INTERNAL FFO USD mn -171% 213 6 (130) (44) 10 (199) (7) (151) FFO Δ Adjusted Δ 2021 One- Δ Stabilization Δ Working Δ Income Δ Financial FFO Q1 20211 EBITDA2 off effect Mechanism Capital Taxes expenses Q1 20223 (factoring) & Others 1. Average exchange rate for the period 724.33 CLP/USD. 2. Adjusted f
Slide 17: Debt (USD mn)
INTERNAL Debt (USD mn)1 20% SDG linked instruments Gross debt Liquidity Position Debt maturities (USD bn) +6% Maturities/Gross Debt 3.1 5,310 5,004 28% 371 9% 10% 12% 4% 367 0.5 2.4 USD bn 4,637 4,939 72% 0.6 0.7 0.5 0.5 0.7 0.2 0.7 0.1 0.3 Dec 31, 2021 Mar 31, 2022 2022 2023 2024 2025 After Cash 20
Slide 18: Closing remarks
INTERNAL Closing remarks Strength our Continue pursuing High ESG portfolio opportunities to standards Active portfolio flexibility through accelerate the and scores reflect management and renewables´ electrification our way to work cash initiatives to growth, process of our (First Integrated continu
Slide 19: Annexes
First Quarter 2022 Annexes ene
Slide 20: Annexes
INTERNAL Annexes Q1 2022 Financial and operational annexes First Quarter Profit & loss (USD mn) Commodities and Marginal cost outlook Hydrology outlook Renewables expansion update Chilean regulatory context Enel Chile Corporate information Credit Rating Organization structure Enel Chile business lin
Slide 21: First Quarter Profit & loss (USD mn)
INTERNAL First Quarter Profit & loss (USD mn) Q1 2022 Q1 2021 ∆ yoy Adjusted EBITDA2 226 197 +15% Reported EBITDA 205 184 +12% D&A (70) (63) +11% Bad Debt (7) (5) +39% Impairment 0 0 N.A. Reported EBIT 128 116 +11% Financial expenses (36) (47) -23% Results from equity investments 1 1 +79% Reported E
Slide 22: Commodities and Marginal cost outlook
INTERNAL Commodities and Marginal cost outlook Henry Hub (USD/mmbtu) Brent (USD/bbl) API 2 (USD/Ton) 6.3 6.2 5.8 118.8 325.3 5.4 98.2 4.4 87.2 83.7 81.4 4.0 4.6 4.0 231.4 3.6 73.0 75.0 70.8 74.6 74.1 62.2 65.6 64.7 68.7 194.5 173.0 2.8 2.9 2.6 2.9 3.0 167.2 2.5 132.8 148.4 108.4 136.7 71.8 86.1 Q1 2
Slide 23: Hydrology outlook
INTERNAL Hydrology outlook Pacific temperatures confirm La Niña effect Rainfall in our most relevant basins1 600 Rapel 2500 Maule (9% of consolidated Gx) (34% of consolidated Gx) Cumulated rainfall (mm) Cumulated rainfall (mm) 500 2000 400 1500 300 1000 200 500 100 0 0 oct sep feb abr nov may ago en
Slide 24: Renewables expansion update
INTERNAL Renewables expansion update Projects in execution Net Installed End of Capacity (MW) Construction Boosting H2 Finis Terrae 1261 2022 Enel Chile is developing the First pilot project for green hydrogen production in Chile PMGD (I & II) 862 2022-23 JV with AME (HIIF) Campos del Sol II 398 202
Slide 25: Chilean regulatory context
INTERNAL Chilean regulatory context Networks businesses Networks tariff review Basic Services Law Total Enel Distribución overdue debt Apr 21 Aug 21 Dec 21 H2 22 Mar-21 Mar-22 clients Transmission Consultant Regulator Expert Tariffs overdue 584 621 report technical panel decree # (‘000) 2020-23 repo
Slide 26: Credit Rating
INTERNAL 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 Ref. Jan/22 Ref. Jan/22 Ref. Jan/22 Ref. Jun/21 Enel Generación Enel Generación Standard & Poor’s Fitch Ratings Fitch Rating
Slide 27: Organization structure
INTERNAL Organization structure Enel Chile shareholders1 64.9% 1.1% 8.4% Chile 21.0% Pension Funds Market Cap2 Institutional Investors 1.8 $ bn ADR’s 4.5% Enel SpA 64.9% Others 100.0% 93.5% 99.1% 99.1% 100.0% Green Power Generación Chile Transmisión Chile Distribución Chile Enel X 1. As of December
Slide 28: Enel Chile
INTERNAL Enel Chile Largest Utility player in Chile in installed capacity and number of clients Thermal generation1 Renewables generation1 Networks1 Tarapacá TG Azabache Valle del Sol Finis Terrae Distribution Atacama Cerro Pabellón Pampa Norte Empresa Eléctrica Domeyko Valle de los Vientos Sol de L
Slide 29: Management of the company
INTERNAL Management of the company Management Team F. Barderi Chief Executive Officer A. Pellegrini Sustainability & Community Relations G. Turchiarelli Chief Financial Officer R. Puentes Procurement L. Schnaidt People and Organization A. Barrios Digital Solutions D. Gomez Regulation M. Rinchi Servi
Slide 30: Corporate governance structure
INTERNAL Corporate governance structure Shareholders’ meeting Audit firm 14% 43% BoD’s composition Board of Directors (7 members) 43% Non executive Executive Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 30
Slide 31: Board composition
INTERNAL Board composition Board of Directors Board of Directors’ diversity Herman Chadwick Chair 29% Monica Girardi Director 57% Age Gender diversity diversity Isabella Alessio Director 43% 71% 41-50 Over 50 Male Female Salvatore Bernabei Director Directors’ Committee (C) Fernán Gazmuri 43% Directo
Slide 32: ESG Ratings
INTERNAL ESG Ratings Main scores 4.6 AA AA 88 88 B A 84 3.4 3.2 B/A C 2019 2020 2021 2021 2019 2020 2021 2019 2020 2021 Scale from 0 to 100 Scale from D- to A Scale from CCC to AAA Scale from 0 to 5 B 83 57 B- 54 49 77 C 72 2019 2020 2021 2019 2020 2021 2019 2020 2021 Scale from 0 to 100 Scale from
Slide 33: Enel Chile First Integrated report
INTERNAL Enel Chile First Integrated report Check out for more Our first Integrated Report and the Sustainability Report are aligned with the SASB, GRI and TCFD standards Direct link: Send us your feedback: ir.enelchile@enel.com 2021 Integrated Report 2021 Sustainability report (English & Spanish) (
Slide 34: Contact us
INTERNAL Q1 2022 consolidated results Contact us Contacts Email ir.enelchile@enel.com Phone +56 2 2630 9606 Channels Follow us Website Isabela Klemes Enel.cl Head of Investor Relations Enel Chile Investor Relations team Mobile App Catalina González Enel Investors Claudio Ortiz Pablo Contreras Downlo
Slide 35: Disclaimer
INTERNAL Q1 2022 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 t