Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Q3 2024 Earnings Presentation
35 slides from Enel Chile Sa's earnings presentation, Oct 30, 2024
Slide 1: Q3 & 9M Enel Chile - Consolidated results
Q3 & 9M Enel Chile - Consolidated results October 30th, 2024
Slide 2: Key highlights of the period
Key highlights of the period Portfolio Regulatory Business management context profitability +20% of higher PEC 3 factoring execution Better 9M 2024 EBITDA hydro generation vs last year already completed in October and Net income Los Cóndores HPP project started the H2 2024 regulated tariff decree wa
Slide 3: Hydrological conditions remain supporting our results
The hydrological conditions remain supporting our results; meltdown season is starting well Hydro generation Historic Enel Chile hydro generation Enel Chile hydro production Cumulated rainfall in our basins1 (TWh) (TWh) (mm) 2,500 2010 12.6 +20% 2,000 2011 11.9 9.7 2012 11.2 1,500 8.1 2013 9.9 -13%
Slide 4: Consolidation of our 2024 renewable energy portfolio
Consolidation of our 2024 renewable energy portfolio… REN & BESS growth contribution COD granted Net installed capacity Los Cóndores up to Oct 2024 9M 2024 Hydro plant 77% Center 5.7% REN + BESS El Manzano BESS 67 MW 16.8% 40.3% South 2.3% 8.7 La Cabaña BESS 8,5 GW 34 MW 34.8% 153 MW 511 MW ~1,735 M
Slide 5: Improved and more flexible portfolio, enhanced by better hydrology
…continue to evolve into an improved and more flexible portfolio, enhanced by better hydrology Net production (TWh) Energy balance (TWh) +6% +0.5 TWh Portfolio mix evolution1 Spot performance from new 18.6 renewable 7.8 8.4 8.4 0.5 capacity 7.8 0.5 17.6 0.9 0.1 1.4 -8% 4.6 4.6 4.7 0.2 0.5 4.1 -0.3 7
Slide 6: Climatic event affected our distribution segment
Unforeseeable and irresistible climatic event affected our distribution segment Climatic event August Event Earthquake Some figures… Aug 2024 2010 Customers affected (#) 794k 650k Fallen trees (#) > 2,000 - MV and LV poles > 1,000 990 replaced/damaged (#) MV Failure points (#) ~ 480 100 Avg. 271 cre
Slide 7: Key milestones achieved in Chile's regulatory framework
Key milestones achieved in Chile’s regulatory framework during this period Stabilization energy mechanism (PEC 3) Other regulatory updates PEC 01 PEC 02 + PEC 03 In November, a discussion is expected on the 1,103 USD mn bill to increase the regulated electric tariff Total receivables net of factorin
Slide 8: Robust business performance driven by favorable hydrology and portfolio mix
Robust business performance in the period, mainly driven by favorable hydrology and portfolio mix Economic & financial performance1 EBITDA Net income FFO2 (USD mn) (USD mn) (USD mn) 1,005 -2% +46% +52% 375 366 687 446 8,5 294 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 Q3 343 405 +18% 173 178 +3
Slide 9: Sustainable capex deployment to improve portfolio flexibility
Sustainable capex deployment to improve portfolio flexibility and profitability CAPEX by business and by nature1 REN and BESS development CAPEX1 9M 2024 9M 2024 Capex allocation by 11% 5% quarter (2024) 22% 21% 4% Q1 32% 406 406 209 USD mn USD mn USD mn 13% 33% 56% -35% yoy 42% Q2 20% 62% -15% yoy -
Slide 10: Q3 2024 EBITDA enhanced by higher PPA prices and volumes
Q3 2024 EBITDA enhanced mainly by higher prices and volumes of PPA sales, as well as LNG trading activities EBITDA evolution (USD mn)1 Higher PPA sales mainly related to +18% indexation in the free market and higher volumes in the regulated market 68 5 405 (3) (2) 11 (16) 343 Higher gas margin due t
Slide 11: Strong 9M 2024 EBITDA reflects higher hydrology and PPA sales
Strong 9M 2024 EBITDA reflects higher hydrology, favorable generation mix, and robust PPA sales contribution EBITDA evolution (USD mn)1 Higher PPA sales mainly related to indexation in the free market and higher +46% volumes in the regulated market 70 23 1,005 123 (21) (15) 250 Lower gas margin due
Slide 12: 2024 Net income enhanced by commercial and operational improvements
2024 Net income significantly enhanced by commercial and operational improvements Net income evolution (USD mn)1 Higher EBITDA resulting from favorable hydrology and portfolio mix +52% 318 (47) Increased D&A due to a higher number of (63) 446 renewable projects in operation (42) (14) 294 Financial e
Slide 13: FFO remains stable despite PEC factoring
FFO remains stable despite the positive contribution of the PEC factoring executed last year FFO evolution (USD mn)1 Stabilization mechanism continues to play an import role in 2024 in the period. 1,005 Factoring executed in Oct-24 to offset it 83 (313) (74) Working capital reflects cash management
Slide 14: Strong and sound financial position
Strong and sound financial position. 630 USD mn from PEC factoring funds to enhance deleveraging Debt and liquidity Gross debt (USD mn)1 Liquidity position (USD bn) Debt maturities (USD bn)1 Maturities/Gross Debt +8% 2.9 4,765 4,408 531 41% 642 1.3 2% 9% 15% 14% 1.9 USD bn 4,234 59% 3,765 8,5 0.4 0.
Slide 15: Closing remarks
Closing remarks 1 2 3 Better and more 713 USD mn The new flexible portfolio received from business plan mix, enhanced PEC’ factoring will be unveiled by better in 2024 on November 21 hydrology 15
Slide 16: Q3 & 9M 2024 Annexes
Lo Q3 & 9M 2024 Annexes enel
Slide 17: Q3 Profit & Loss (USD mn)
Q3 Profit & Loss (USD mn)1 Q3 2024 Q3 2023 ∆ yoy Reported EBITDA 405 343 +18% D&A (82) (72) +14% Bad Debt (4) (3) +72% Impairment 0 0 - Reported EBIT 318 268 +19% Financial expenses (61) (1) +4931% Results from equity investments 5 1 +284% Reported EBT 262 268 -2% Income taxes (66) (81) -18% Minorit
Slide 18: 9M Profit & Loss (USD mn)
9M Profit & Loss (USD mn)1 9M 2024 9M 2023 ∆ yoy Reported EBITDA 1,005 687 +46% D&A (238) (196) +21% Bad Debt (16) (11) +43% Impairment 0 0 - Reported EBIT 751 480 +57% Financial expenses (113) (52) +116% Results from equity investments 7 9 -25% Reported EBT 645 437 +48% Income taxes (156) (114) +37
Slide 19: Main business EBITDA breakdown
Main business EBITDA breakdown EBITDA Generation EBITDA Grids business line (USD mn)1 business line (USD mn)1 +24% +51% -53% +2% 983 651 68 69 409 330 22 10 Q3 2023 Q3 2024 9M 2023 9M 2024 Q3 2023 Q3 2024 9M 2023 9M 2024 1. Comparisons between periods in the Financial Income Statements are made usin
Slide 20: Focus on electrification through integrated margin offering
Focus on electrification through our integrated margin offering Integrated offering – Main KPIs Grids main KPIs 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 REN + BESS capacity +0.2% Charging points2,3 +22% Energy distributed6 +3% (GW) 6.7 6.8 (‘000) 2.6 3.1 10.8 11.2 (TWh) REN + BESS capacity +0
Slide 21: Consolidation of our renewable matrix throughout the country
Consolidation of our renewable matrix throughout the country Central zone Net installed capacity6 PMGD 83 MW 5.7% 33 MW 77% 16.8% El Manzano3 99 MW REN + BESS +67 MW BESS 40.3% 2.3% 8.7 Los Cóndores 153 MW Southern zone GW Don Humberto4 81 MW Renaico II 144 MW +67 MW BESS La Cabaña5 106 MW 34.8% +34
Slide 22: Commodities and Spot price outlook
Commodities and Spot price outlook Henry Hub (USD/mmBTU) Brent (USD/bbl) API 2 (USD/Ton) 9M 2024: 2.1 9M 2024: 83 9M 2024: 110 9M 2023: 2.7 9M 2023: 82 9M 2023: 130 4.7 168 94 138 138 140 90 91 136 3.1 3.2 85 85 86 124 118 2.8 2.7 83 84 82 83 83 119 116 122 123 2.5 2.5 2.6 2.5 2.6 78 110 2.0 2.1 82
Slide 23: Hydrology outlook
Hydrology outlook Historic Enel Chile hydro generation (TWh) Rainfall in our most relevant basins1 Rapel Maule 2010 12.6 700 2,200 (9% of consolidated Gx) (34% of consolidated Gx) 650 2,000 600 2011 11.9 1,800 Cumulated rainfall (mm) 550 Cumulated rainfall (mm) 500 1,600 450 1,400 2012 11.2 400 1,20
Slide 24: Largest utility player in Chile in installed capacity and clients
Enel Chile is the largest Utility player in Chile in installed capacity and number of clients Net installed capacity (GW) 9M 2024 Hydro Solar Wind BESS Geo CCGT O&G Total 9M 2024 North Facilities (#) 1 13 7 - 2 1 2 26 35% Zone 40% 8.7 Net installed capacity (GW) 0.02 1.8 0.5 - 0.1 0.7 0.3 3.4 GW 2%
Slide 25: Enel Chile - Networks' business
Enel Chile - Networks’ business Overview Concession area: 9M 2024 End users 9M 2024 Physical energy sales 33 municipalities in the metropolitan region 2% 7% 1% 0% 36% 39% 2.2 11.3 mn TWh 4% 90% 5% 16% Residential Industrial Others Residential Industrial Others Market share 44% Commercial Tolls Comme
Slide 26: Glossary
Glossary Term Definition Term Definition AGM Annual general meeting LNG Liquefied natural gas API2 Coal price reference indicator LTM Last twelve months BESS Battery energy storage system Mm Millimetre CAPEX Capital Expenditures MPC Spanish acronym for client protection mechanism CCGT Combined cycle
Slide 27: 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 28: Organization structure
Organization structure Enel Chile shareholders1 64.9% 1.1% 7.6% Chile 22.0% Pension Funds Market Cap2 Institutional Investors USD 3.8 bn ADR’s 4.4% 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 September 30, 2024 2. Market
Slide 29: Management of the Company
Management of the Company G. Turchiarelli Chief Executive Officer R. Puentes Procurement S. Conticelli Chief Financial Officer A. Barrios ICT Real Estate and C. Navarrete Deputy Chief Financial Officer M. Rinchi General Services L. Schnaidt People and Organization A. Pinto Security D. Valdés Legal a
Slide 30: Corporate governance structure
Corporate governance structure1 Shareholders’ meeting Audit firm 50% BoD’s composition Board of Directors (7 members) 50% Executive of Enel SpA Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 1. As of October 2024. 30
Slide 31: Board composition
Board composition Board of Directors Board of Directors’ diversity3 Marcelo Castillo Chair Isabella Alessio Director Gender 33% 67% diversity Salvatore Bernabei Director Directors’ Committee (C) Male Female María Teresa Vial1 Director Directors’ Committee 33% Pablo Cabrera1,2 Director 50% Tenure Nat
Slide 32: 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 2019 2020 2021 2022 2023 2021 2022 2023 Scale from 0 to 100 Scale from D- to A Scale from CCC to AAA Scale from 0 to 5 89 B B 68 68 86 83 54 57 B- B- B- 49 77
Slide 33: 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 34: Contact us
Q3 & 9M 2024 consolidated results Contact us Contacts Email ir.enelchile@enel.com Channels – Follow us Herramienta: Youtube » Recursos educativos digitales Forma linkedin, square icon instagram icon facebook, square icon Descripción generada automáticamente con confianza media Isabela Klemes Head of
Slide 35: Disclaimer
Q3 & 9M 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 the i