Enel Americas S.a. · BCS:ENELAM
Enel Americas — H1 2024 Earnings Presentation
40 slides from Enel Americas's earnings presentation, Jul 26, 2024
Slide 1: Second Quarter & First Half Consolidated results
Second Quarter & First Half Enel Américas Consolidated results July 26th, 2024
Slide 2: Key highlights and operational performance
Q2 & H1 2024 Key highlights and operational performance Aurelio Bustilho CEO
Slide 3: Q2 2024 Key highlights
Q2 2024 Key highlights \\psf\Home\Desktop\ENELLOGO1.jpg Operational Financial Sale of Peru Brazil results results + USD 1.8 bn net income BRL 14.5 bn Energy distributed +7% USD 1.0 bn + USD 4.4 bn cash1 CAPEX plans for Installed capacity +0.7 GW EBITDA +4% vsPY Grids 2024-26 98% RES capacity Signifi
Slide 4: Completion of sale of Peruvian assets
Completion of sale of Peruvian assets \\psf\Home\Desktop\ENELLOGO1.jpg Closing of accretive sale, simplifying corporate structure and refocusing on core countries Distribution assets Generation assets Proceeds and Uses USD 4.4 bn1 USD 3.1 bn USD 1.3 bn Total proceeds Cash-in received for the sale Ca
Slide 5: Main developments in Brazil
Main developments in Brazil \\psf\Home\Desktop\ENELLOGO1.jpg Commitments and positive regulatory updates to reaffirm long-term investments Commitments with Brazilian gov’t Concession renewal decree Investment plan – Grids Brazil Focus on our investment, industrial Non-onerous renewal, does not Enel
Slide 6: Gross CAPEX
Gross CAPEX \\psf\Home\Desktop\ENELLOGO1.jpg Completing renewable projects in core countries, continued focus on Grids CAPEX by country CAPEX by business1 Asset development2 CAPEX by business 1% 7% 4% 22% Q2 2024 32% 39% US$ 512 mn US$ 512 mn US$ 225 mn (-32% YoY) (-32% YoY) (-49% YoY) 60% 64% 71% A
Slide 7: Generation operational highlights
Generation operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg 97% emission-free production, strong growth in energy sales in Brazil Net installed capacity (GW) Net production1 (TWh) 18.6 +2% 19.0 +8% 0.5 10.3 0.2 1.2 1.5 9.6 0.3 Hydro 0.2 0.8 5.1 5.6 0.6 Wind 2% 2.9 3.7 Solar 12.1 11.4 Coal 98%
Slide 8: Renewables development
Renewables development \\psf\Home\Desktop\ENELLOGO1.jpg ~0.7 GW added capacity in Brazil and Colombia H1 CAPEX breakdown1 Projects in execution Net capacity Expected Country & tech Project remaining COD Arinos2 97 MW 2024 12% 15% (514 MW built) Guayepo II 34 MW 2024 USD Brazil 0.7 (156 MW built) 0.4
Slide 9: Grids operational highlights
Grids operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg Strong growth led by Brazil; quality indicators affected by climate events Electricity distributed (TWh) Grid customers (mn) Quality indicators1 SAIDI (hours) SAIFI (times) +5% +400k H1 2023 H1 2024 H1 2023 H1 2024 Edesur 18.5 16.9 6.8 8.
Slide 10: Economic and financial performance
Q2 & H1 2024 Economic and financial performance Rafael de la Haza CFO
Slide 11: Financial highlights
Financial highlights \\psf\Home\Desktop\ENELLOGO1.jpg EBITDA increase mainly due to Grids Colombia, Grids Argentina, and Gx Brazil EBITDA Net income Net debt (USD bn) (USD bn) (USD bn) +9% 2.1 4.5x 2.3 6.5 1.9 -65% 1.8 H1 2.3 0.5 0.5 H1 2023 H1 2024 H1 2023 H1 2024 Dec. 2023 Jun. 2024 Sale of Peruvi
Slide 12: EBITDA breakdown: Q2 2024 results
EBITDA breakdown: Q2 2024 results \\psf\Home\Desktop\ENELLOGO1.jpg Increase explained by Grids Colombia, Grids Argentina, and Gx Brazil EBITDA evolution by business line (USD bn) EBITDA breakdown +4% 3% 2% +9% Argentina 1,047 USD Brazil 955 958 6 13 (52) 995 39% Colombia 3 (21) 91 995 mn 56% C. Amer
Slide 13: EBITDA breakdown: H1 2024 results
EBITDA breakdown: H1 2024 results \\psf\Home\Desktop\ENELLOGO1.jpg Increase explained by Grids Argentina, Grids Colombia, and Fx effect EBITDA evolution by business line (USD bn) EBITDA breakdown +9% 1% 3% +10% Argentina USD Brazil 2,056 2,072 38% 1,899 16 Colombia 1,868 193 14 10 2,072 mn 58% (31)
Slide 14: Cash flow (USD bn)
Cash flow (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg Strong CAPEX investment to drive future growth 2.07 (0.40) (0.45) USD 0.51 bn Asset development CAPEX (0.36) 0.86 (1.07) (0.21) 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses H1 2023 1.90 (0.57) (0.34) (0.23) 0.76 (1.33) (0.57)
Slide 15: Debt (USD bn)
Debt (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg Liability management actions in Brazil led to a significant gross debt decrease Gross and net debt1 Net debt evolution Gross debt breakdown - 17% - 65% 8.1 21% Currency 6.7 BRL 1.6 (1.4) 6.5 0.2 0.3 USD 47% COP 6.7 bn USD Liability mgmt. (4.2) 32% (1.2)
Slide 16: Closing remarks
Closing remarks \\psf\Home\Desktop\ENELLOGO1.jpg Assets disposal of Peruvian assets completed, using capital to reduce expensive debt Record net income leads to Reinforcing our commitment in Brazil, with strong investment plan in Grids focused on improved shareholder quality and resilience remunerat
Slide 17: Annexes
Q2 & H1 2024 Annexes ry Cl
Slide 18: Current scenario
Current scenario \\psf\Home\Desktop\ENELLOGO1.jpg Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q22 ∆% H12 June June ‘24 vs ‘23 ‘24 vs ‘23 2023 2024 -1.7% June June Argenti
Slide 19: Regulation Update Q2 2024
Regulation Update Q2 2024 \\psf\Home\Desktop\ENELLOGO1.jpg • 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 33/2024 – The Chocón concession was extended for an addit
Slide 20: Operating exhibits
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Net installed capacity & Total net production: Breakdown by source and geography Net installed capacity (MW) MW Hydro Wind Solar Coal Total Argentina 1,328 0 0 0 1,328 Brazil 1,272 3,506 1,748 0 6,526 Colombia 3,097 0 872 226 4,195 Central America
Slide 21: Operating exhibits
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Distribution companies Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country LTM (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,688,911 17,697 16.9 8.0 16.7% Buenos Aires, Argentina 3,309 2024 Enel Dx
Slide 22: Financial exhibits
Financial exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Reported results Q2 2024 Q2 2023 ∆YoY H1 2024 H1 2023 ∆YoY Revenues 3,376 3,230 +4% 6,749 6,370 +6% Gross Margin 1,403 1,337 +5% 2,860 2,667 +7% OPEX (408) (382) +7% (788) (768) +3% Reported EBITDA 995 955 +4% 2,072 1,899 +9% D&A1 (354) (328) +8% (
Slide 23: Generation business results
Generation business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Q2 EBITDA evolution (USD mn) H1 EBITDA by country (USD mn) 1% -4% 8% 390 374 765 44% (-3% YoY) 47% Q2 2023 Q2 1 2024 Argentina Colombia Brazil C. America 23
Slide 24: Grids business results
Grids business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Q2 EBITDA evolution (USD mn) H1 EBITDA by country (USD mn) +8% 2% 637 592 32% 1,346 (+15% YoY) 66% Q2 2023 Q2 2024 Argentina Colombia Brazil C. America 24
Slide 25: Argentina (USD mn)
Argentina (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation 1 Grids1 Total 2 Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Revenues 3 13 >100% 271 347 28% 275 360 31% Procurements -1 -1 >100% -204 -228 12% -204 -227 11% and Services OPEX 9 -3 <-100% -70 -102 45% -65 -106 6
Slide 26: Argentina (USD mn)
Argentina (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation 1 Grids1 Total 2 H1 2023 H1 2024 % H1 2023 H1 2024 % H1 2023 H1 2024 % Revenues 45 23 -49% 501 583 16% 546 606 11% Procurements -3 -2 -14% -414 -391 -5% -417 -394 -6% and Services OPEX -14 -14 -3% -140 -166 18% -159 -181 14%
Slide 27: Brazil (USD mn)
Brazil (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation 1 Grids1 Total 2 Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Revenues 272 288 6% 1,751 1,653 -6% 2,029 1,944 -4% Procurements -88 -77 -13% -1,137 -1,092 -4% -1,226 -1,166 -5% and Services OPEX -26 -35 33% -186 -161
Slide 28: Brazil (USD mn)
Brazil (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation 1 Grids1 Total 2 H1 2023 H1 2024 % H1 2023 H1 2024 % H1 2023 H1 2024 % Revenues 542 573 6% 3,541 3,443 -3% 4,097 4,023 -2% Procurements -181 -172 -5% -2,268 -2,212 -2% -2,452 -2,379 -3% and Services OPEX -56 -65 17% -351 -337 -4
Slide 29: Colombia (USD mn)
Colombia (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation 1 Grids1 Total 2 Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Revenues 410 465 13% 483 579 20% 846 988 17% Procurements -176 -261 48% -287 -317 11% -411 -521 27% and Services OPEX -23 -32 40% -30 -43 40% -54 -75 3
Slide 30: Colombia (USD mn)
Colombia (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation 1 Grids1 Total 2 H1 2023 H1 2024 % H1 2023 H1 2024 % H1 2023 H1 2024 % Revenues 768 902 17% 908 1,162 28% 1,584 1,956 24% Procurements -321 -486 52% -545 -657 21% -770 -1,034 34% and Services OPEX -42 -59 41% -59 -79 32% -107
Slide 31: Central America (USD mn)
Central America (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Central America Q2 2023 Q2 2024 % H1 2023 H1 2024 % Revenues 80 83 3% 143 163 14% Procurements -51 -58 13% -64 -83 29% and Services OPEX -18 -8 -56% -28 -17 -41% EBITDA 11 17 56% 51 64 26% Net Income -69 0 -99% -54 18 <-
Slide 32: Peru (USD mn) – Sold assets
Peru (USD mn) – Sold assets \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results 1 1 2 Generation Grids Total Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Q2 2023 Q2 2024 % Revenues 207 81 -61% 285 184 -35% 492 265 -46% Procurements -78 -29 -62% -193 -127 -34% -271 -156 -42% and Services OPEX -25 -9 -64% -
Slide 33: Consolidated financial position
Consolidated financial position \\psf\Home\Desktop\ENELLOGO1.jpg Liquidity, debt maturities and credit profile Liquidity position Debt maturities (USD bn) Credit profile Average maturity of Baa2/Stable 3.1 years (June 2024) 22% 2.9 BBB-/Stable (February 2024) USD 5.7 bn 1.4 1.5 1.0 BBB+/Stable 78% (
Slide 34: ESG raters and rankings
ESG raters and rankings \\psf\Home\Desktop\ENELLOGO1.jpg AAA 92 AA AA AA AA 4.4 4.4 4.5 90 4.2 81 83 84 3.8 2019 2020 2021 2022 2023 2020 2021 2022 2023 2024 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
Slide 35: Corporate governance structure
Corporate governance structure \\psf\Home\Desktop\ENELLOGO1.jpg Shareholders’ meeting Audit firm 29% BoD’s composition 14% Board of Directors (7 members) 57% Executive Independent Non-executive elected by Enel SpA Functions: Directors Committee Audit committee Sustainability committee Related partie
Slide 36: Board composition
Board composition \\psf\Home\Desktop\ENELLOGO1.jpg Board of Directors Board of Directors’ diversity Borja Acha Besga Chair 14% Director José Antonio Vargas Directors’ Committee Gender diversity Alberto De Paoli Director 86% Male Female Luca Lo Voi Director 14% 14% Britaldo Soares Director 14% 29% Te
Slide 37: Enel Américas - Policies, principles and codes
Enel Américas - Policies, principles and codes \\psf\Home\Desktop\ENELLOGO1.jpg 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 Fre
Slide 38: Disclaimer
Q2 & H1 2024 Consolidated results \\psf\Home\Desktop\ENELLOGO1.jpg 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 expe
Slide 39: Thank you.
Q2 & H1 2024 Consolidated results \\psf\Home\Desktop\ENELLOGO1.jpg Contact us Contacts Email - ir.enelamericas@enel.com Channels Website Mobile App www.enelamericas.com Enel Américas Jorge Velis Head of Investor Relations Download App iOS Android Investor Relations team Nicolás Gracia Claudio Ortiz
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