Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q3 2021 Earnings Presentation
34 slides from Enel Americas's earnings presentation, Oct 27, 2021
Slide 1: Third Quarter Consolidated results
Third Quarter Consolidated results October 27th, 2021 Américas
Slide 2: Key highlights of the period
Key highlights of the period Américas Operational performance Financial results ESG positioning Push on renewables +0.4 GW RES started operations during Q3 in Volume recovery in Dx in Moody’s: CT-3 score for +47% EBITDA in Q3 2021 Brazil all the countries Enel Américas in CTA2 vs PY, with a relevant
Slide 3: Macro-scenario
Macro-scenario Recovery of electricity distributed & collection to pre-pandemic levels Américas Currencies vs USD1 Electricity distributed Collection2 ∆% Q3 ∆% 9M ∆% Q3 ∆% 9M ∆% 9M ∆% 9M 2021 vs 2020 2021 vs 2020 2021 vs 2020 2021 vs 2020 2021 vs 2019 2021 vs 2020 vs 2019 -30% 99.6% Argentina -30% A
Slide 4: Industrial Growth: Gross CAPEX
Industrial Growth: Gross CAPEX Significant investment in Renewables to deliver on new capacity Américas Total CAPEX by nature1 Total CAPEX by business2 Total CAPEX by country 3% 2% 2% 1% 5% 8% 19% 26% Q3 2021 21% 40% US$ 815 mn 1% US$ 815 mn US$ 815 mn (+114% YoY) (+114% YoY) (+114% YoY) 53% Thermal
Slide 5: Generation operational highlights
Generation operational highlights Strong growth in net production and energy sales from continued operations and EGPA Américas Installed capacity (GW) Net production & energy sales (TWh) +39% capacity vs PY +4.4 GW from EGPA1 +21% 23% +0.4 GW added in Q3 +25% 36.7 Hydro1 30.2 5.6 Net production Coal
Slide 6: Networks operational highlights
Networks operational highlights Improvement in quality indicators across all countries Américas Electricity distributed (TWh) End users (mn) Quality indicators1 SAIDI (hours) SAIFI (times) +2% 9M 2020 9M 2021 9M 2020 9M 2021 +5% Argentina 16.5 13.5 4.9 4.8 89.5 26.0 Brazil 11.1 10.8 5.4 5.1 85.0 25.
Slide 7: Enel X and Retail operating highlights
Enel X and Retail operating highlights Strong growth in charging points and energy sold Américas Enel X Retail1 9M 2020 9M 2021 Δ% Delivery points (#) Energy sold (TWh) Charging points (#) 1,053 2,320 +120% + 32% + 35% Street lighting (final light points, mn#) 797 847 +6% 4,366 15.1 PV 3,310 11.2 (M
Slide 8: ESG highlights
ESG highlights Our commitment is part of our business model Américas Indexes and scores update Transparency and governance • Moody’s assigned a CT-31 for • The company obtained first place Enel Américas in its Carbon in terms of percentage of Transition Assessment, compliance with best practices on
Slide 9: Financial highlights (US$ mn)
Financial highlights (US$ mn) EBITDA improvement due to operational results & EGPA consolidation Américas Q3 2020 Q3 2021 Δ% YoY 9M 2020 9M 2021 Δ% YoY Quarter highlights Reported EBITDA 725 1,066 47.1% 2,196 2,759 25.6% EBITDA improvement due to better operational results and strong performance of
Slide 10: EBITDA breakdown: Q3 2021 results
EBITDA breakdown: Q3 2021 results Growth driven by EGPA consolidation, Gx and Dx operations Américas EBITDA evolution by business line (US$ mn) EBITDA by country (US$ mn) 5% 4% +47% +51% 14% 117 27 (19) 1,094 1,066 203 (28) US$ 1,066 mn 41 42% 725 US$ 134mn EBITDA (+47% YoY) from EGPA 35% Q3 2020 Th
Slide 11: Generation business: Q3 2021 results
Generation business: Q3 2021 results EGPA, Brazil and Colombia led to significant EBITDA growth Américas Q3 EBITDA evolution (US$ mn) YTD EBITDA by country (US$ mn) +68% Consolidation of EGPA +28% 558 boosted results (US$ 134 mn) 7% 7% 54 17% 423 73 +208% EBITDA growth in 1,412 28% 64 Brazil due to
Slide 12: EGP Américas: Q3 2021 results
EGP Américas: Q3 2021 results +0.4 GW of add. capacity in Q3 2021 Américas Main operational KPIs Main financial KPIs Installed capacity Projects in execution EBITDA breakdown CAPEX breakdown 3% 2% 15% 11% 1.6 Q3 2021 7% 40% 2% 37% 4.4 GW 2.0 2.7 GW US$ 134 mn US$ 316 mn 54% 54% 33% 60% 76% 0.8 6% 4%
Slide 13: Networks business: Q3 2021 results
Networks business : Q3 2021 results EBITDA growth across all concession areas Américas Q3 EBITDA evolution (US$ mn) YTD EBITDA by country (US$ mn) +29% Volume recovery across all 535 countries 12% 54 415 133 47 +39% EBITDA growth in Brazil 1,423 335 on better operational performance 29% (+12% YoY) 1
Slide 14: Cash flow (US$ mn)
Cash flow (US$ mn) Strong CAPEX investment to drive future growth Américas 2,759 US$ 509 mn CAPEX (840) from EGPA 1,172 (600) (147) (1,808) (636) 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF 9M 2021 expenses 9M 2020 2,196 (246) (404) (169) 1,376 (974) 403 Delta YoY +25.6% +240.9% +48.4%
Slide 15: Debt (US$ mn)
Debt (US$ mn) Increase in net debt mainly due to CVA effect in Brazil Américas Gross and net debt1 Net debt evolution Gross debt breakdown Sep. 21 +22.9% 8% 767 14 631 49 5,834 BRL 16% Currency COP 7,316 636 (688) US$ 7,316 mn 53% USD 5,955 1,482 4,426 PEN 1,529 23% Others4 5,834 4,426 1% 2% Dec. 20
Slide 16: Closing remarks
Closing remarks Américas Operational recovery Strong results in Q3 Affirming our Strong capacity to across all 2021 with a relevant position as one of the deliver and execute businesses and contribution of EGPA best ESG players in new capacity in line geographies the sector for Latam with our strate
Slide 17: Annexes
Third Quarter Annexes Américas
Slide 18: Regulation Update Q3 2021
Regulation Update Q3 2021 Américas • Resolution 590/21 - On September 21, 2021, the Ministry of Economy issued Resolution No. 590, which declared as "harmful to the general interest" the "Agreement for the Regularization of Obligations" dated May 10, 2019. Pointing out the same resolution that, admi
Slide 19: Operating exhibits: Net installed capacity and net production
Operating exhibits Net installed capacity and Total net production: Breakdown by source and geography Américas Net installed capacity (MW) Large Hydro MW Wind Solar Oil-Gas CCGT Coal Total Hydro EGPA Argentina 1,328 0 0 0 1,169 1,922 0 4,419 Brazil 1,038 234 1,898 1,196 0 319 0 4,685 Colombia 3,097
Slide 20: Operating exhibits: Distribution companies
Operating exhibits Distribution companies Américas Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,538,229 15,888 13.5 4.8 18.4% Buenos Aires, Argentina 3,309 2023 Enel Dx Rio 3,016,876 11,228 10.1 5.
Slide 21: Financial exhibits
Financial exhibits Américas Q3 2021 Q3 2020 D YoY 9M 2021 9M 2020 D YoY Revenues 4,855 2,820 +72% 11,513 8,521 +35% Gross Margin 1,490 1,098 +36% 4,002 3,378 +18% OPEX -424 -373 +14% -1,243 -1,181 +5% Reported EBITDA 1,066 725 +47% 2,759 2,196 +26% D&A1 -389 -244 +59% -960 -813 +18% EBIT 678 481 +41
Slide 22: Financial exhibits: EBITDA breakdown
Financial exhibits EBITDA breakdown Américas EBITDA by country EBITDA by business line Q3 2021 9M 2021 Q3 2021 9M 2021 5% 4% 4% 2% 2% 5% 6% 11% 6% 12% 11% 32% 14% 36% 1,066 2,759 1,066 2,759 (+47% yoy) (+26% yoy) (+47% yoy) (+26% yoy) 43% 38% 44% 36% 47% 42% Thermal Brazil Colombia Peru Argentina C.
Slide 23: Argentina (US$ mn)
Argentina (US$ mn) Américas Generation 1 Networks 1 Total 2 Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Revenues 56 62 11% 199 220 11% 255 283 11% OPEX -19 -20 7% -49 -63 27% -70 -83 19% Dock Sud EBITDA 38 38 1% 5 13 158% 40 49 24% 846 MW* Net Income 32 2 -95% 8 -26 -428% 47 -1 -102% Costa
Slide 24: Brazil (US$ mn)
Brazil (US$ mn) Américas Generation 1 Networks 1 Total 2 Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Revenues 151 1,012 568% 1,607 2,595 61% 1,693 3,519 108% Fortaleza 319 MW* OPEX -7 -31 367% -180 -179 -1% -197 -225 14% EBITDA 59 182 208% 240 335 39% 291 505 74% Enel Dx Ceará Net Income 3
Slide 25: Colombia (US$ mn)
Colombia (US$ mn) Américas Generation 1 Networks 1 Total 2 Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Revenues 292 334 14% 377 424 13% 567 653 15% OPEX -21 -17 -22% -38 -35 -8% -59 -53 -11% Enel Codensa EBITDA 169 210 24% 122 133 9% 291 346 19% Emgesa Clients: 3.6 m 409 MW* Net Income 64
Slide 26: Peru (US$ mn)
Peru (US$ mn) Américas Generation 1 Networks 1 Total 2 Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Q3 2020 Q3 2021 % Revenues 128 148 16% 213 212 -1% 305 323 6% Enel Gx Piura OPEX -19 -24 27% -19 -21 7% -38 -44 15% 336 MW* EBITDA 66 73 11% 47 54 13% 112 120 7% Net Income 38 39 2% 17 21 20% 52 53 1% Gross Ca
Slide 27: Central America (US$ mn)
Central America (US$ mn) Américas Central America Q3 2020 Q3 2021 % Revenues - 78 - OPEX - -10 - EBITDA - 54 - Net Income - 34 - Gross Capex - 9 - Net Production - 767 - (GWh) Energy Sales - 1,804 - (GWh) Av. Spot Price - - - Hydro plant ($US/MWh) Solar plant Energy losses - - - (%) Customers (Th) -
Slide 28: Financial exhibits: Liquidity and credit profile
Financial exhibits Liquidity and credit profile Américas Liquidity (US$ m) Total Used Available Committed credit lines 1,553 109 1,444 Cash and cash equivalents 1 1,482 0 1,482 Total liquidity 3,035 109 2,926 Credit Profile S&P Fitch Moody's as of September 2021 LT international debt BBB- A- Baa2 LT
Slide 29: Corporate governance structure
Corporate governance structure Américas Shareholders’ meeting Audit firm 43% BoD’s composition Board of Directors (7 members) 57% Executive Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 29
Slide 30: Board composition
Board composition Américas Board of Directors Board of Directors’ diversity1 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 José Antonio Vargas Director 61-70 over 70 14% 14% Directors’ Comm
Slide 31: CEO's short-term variable remuneration
CEO’s short-term variable remuneration Américas Type of Target Objective Weight Range Profit Net Income 25% Maximum 120% Economic Latin America FFO Financial 15% Maximum 120% Latin America Business Customer's operations 20% Maximum 120% Claims Business 20% Maximum 120% (Commercial operations) Safety
Slide 32: Disclaimer
Q3 2021 Consolidated results Disclaimer Américas 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 presentation and include statement
Slide 33: Thank you.
Q3 2021 Consolidated results Contact us Américas Contacts Email - ir.enelamericas@enel.com Channels Website Mobile App www.enelamericas.com Enel Américas Investors Rafael de la Haza Head of Investor Relations Download App iOS Android Investor Relations team Jorge Velis Javiera Rubio Nicolás Gracia F
Slide 34: Américas
Américas Américas Américas