Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — FY2024 Earnings Presentation
37 slides from Enel Chile Sa's earnings presentation, Feb 27, 2025
Slide 1: Q4 & FY Enel Chile - Consolidated results
Q4 & FY Enel Chile - Consolidated results February 27th, 2025
Slide 2: Giuseppe Turchiarelli, CEO
Giuseppe Turchiarelli CEO enet
Slide 3: Key highlights of the period
Key highlights of the period Portfolio Country and Business management Regulatory context profitability Outstanding performance in Dx voluntary compensation 657 USD mn non-cash effect hydro power generation program for August agreed related to the functional currency impact at the EBITDA level ~ 0.4
Slide 4: Favorable hydrological conditions and abundant gas availability contributed to our results
Favorable hydrological conditions and abundant gas availability contributed to our results Hydro generation and gas availability Argentine natural 3.7 GW Historic Enel Chile hydro generation gas Hydroelectric plants throughout the country Net installed (TWh) Gas Atacama capacity gas pipeline operati
Slide 5: The expansion phase of our portfolio has been successfully completed
The expansion phase of our portfolio has been successfully completed REN & BESS growth contribution Renewable contribution in 2024 Net installed capacity FY 2024 Los Cóndores hydro plant 78% ~0.7 GW ~0.4 GW 5.6% REN + BESS COD approved Total connected projects in 2024 in 2024 16.6% 41.3% 2.3% 8.9 8,
Slide 6: New renewable capacity, assets availability and better hydrology improved our energy balance
New renewable capacity, assets availability and better hydrology improved our energy balance during 2024 Net production (TWh) Energy balance (TWh) +2% +0.8 TWh Portfolio mix evolution1 Spot performance from new 24.6 renewable 7.6 7.6 8.1 8.1 0.6 24.1 capacity 0.6 0.2 1.1 1.5 -8% 6.0 4.8 4.9 0.4 0.4
Slide 7: Several management actions towards the Force Majeure event of Aug/24 continue
Several management actions towards the Force Majeure event of Aug/24 continue Unforeseeable and irresistible climatic event of Aug/24 Main preventive actions Force Majeure event legal cases are under Operational emergency guidelines with discussion in the court of appeals municipalities for climate
Slide 8: The energy regulatory framework continues to evolve with important updates during H1 2025
The energy regulatory framework continues to evolve with important updates during the H1 2025 Dx regulatory cycle H1 2025 regulated tariff decree Tariff subsidy bill 6% Returns Initiation study (real terms post tax) ≤ 350 > 350 Regulated electric tariff subsidy through Consultant final report kWh/mo
Slide 9: In terms of management commitments, FY 2024 financial targets were reached
In terms of management commitments, FY 2024 financial targets were reached Strategic Pillars Main financial targets1 (USD bn) Resiliency, Adj. Net Income Adj. EBITDA 1 flexibility and value generation 1.4-1.5 1.4 0.6-0.7 0.6 Efficiency and 2 effectiveness 8,5 Financial and Guidance Investor Adj. FY
Slide 10: Simone Conticelli, CFO
Simone Conticelll CFO enet
Slide 11: Outstanding hydro generation and a diversified portfolio drove 2024 robust business results
Outstanding hydro generation and a diversified portfolio drove the 2024 robust business results Economic & financial performance1 EBITDA2 Net income3 FFO4 (USD mn) (USD mn) (USD mn) +29% +22% +38% 1,421 1,209 622 1,101 508 8,5 877 FY 2023 Adj. FY 2024 Adj. FY 2023 Adj. FY 2024 FY 2023 Adj. FY 2024 Q
Slide 12: Sustainable capex deployment designed to improve portfolio flexibility and profitability
Sustainable capex deployment designed to improve portfolio flexibility and profitability CAPEX by business and by nature1 REN and BESS development CAPEX1 FY 2024 FY 2024 3% 11% 6% 14% 4% 583 19% 290 41% 583 USD mn USD mn 54% USD mn 22% 35% -43% yoy -19% yoy 61% -19% yoy 30% REN + BESS Thermal Asset
Slide 13: Solid adj. Q4 2024 EBITDA results despite the extreme weather events provisions
Solid adj. Q4 2024 EBITDA results despite the extreme weather events provisions EBITDA evolution (USD mn)1 Higher PPA sales mainly related to indexation in the free market and higher volumes in the +1% regulated market 71 33 419 9 424 Positive performance of sourcing due to (68) (41) lower spot pric
Slide 14: Robust adj. 2024 EBITDA reflecting a resilient portfolio
Robust adj. 2024 EBITDA reflecting a resilient portfolio, boosted by the hydrology, neutralizing extreme weather impacts EBITDA evolution (USD mn)1 Higher PPA sales mainly related to indexation in the free market and higher +29% volumes in the regulated market 227 31 321 1,421 (197) Better portfolio
Slide 15: Adj. 2024 Net income reflecting the robust EBITDA growth
Adj. 2024 Net income reflecting the robust EBITDA growth in the period Net income evolution (USD mn)1 +22% 320 Increased D&A mainly due to more REN projects in operation 671 (81) 622 (75) (39) (11) 508 Financial expenses mainly impacted by (163) PEC interests and FX variation in the periods 154 (468
Slide 16: 2024 FFO higher than 2023 mainly due to improved EBITDA and PEC factoring
2024 FFO higher than 2023 figures mainly due to improved EBITDA and PEC factoring FFO evolution (USD mn)1 Execution of PEC 2 and PEC 3 factoring in 2024 offset the accumulated 697 stabilization mechanism accounts 1,421 (153) (205) 1,209 Working capital reflects cash (310) (241) management actions to
Slide 17: 2024 actions and solid results have led to the sustainable reduction of our indebtedness
2024 actions and solid results have led to the sustainable reduction of our indebtedness Debt and liquidity Gross debt (USD mn)1 Liquidity position (USD bn) Debt maturities (USD bn)1 Maturities/Gross Debt -11% 4,408 3,931 36% 6% 10% 12% 28% 642 385 1.1 1.7 USD bn 1.1 0.8 3,765 3,546 8,5 64% 0.2 0.4
Slide 18: Closing remarks
Closing remarks A resilient and diversified business model, Annual Shareholders’ driven by strong hydrology, supported robust Meeting to be held on results despite a challenging context April 28th, 2025 Regulatory advocacy plan will continue to Proposed transform Chile’s utilities regulatory framewo
Slide 19: Q4 & FY 2024 Consolidated results Annexes
Q4 & FY 2024 Consolidated results Annexes
Slide 20: Q4 Profit & Loss (USD mn)
Q4 Profit & Loss (USD mn)1 Q4 2024 Q4 2023 ∆ qoq Adjusted EBITDA2 424 419 +1% Reported EBITDA (234) 419 -156% D&A (77) (74) +4% Bad Debt (4) 0 +902% Impairment (36) (7) +387% Reported EBIT (351) 337 -204% Financial expenses (52) (42) +25% Other non-financial result 2 232 -99% Reported EBT (401) 527
Slide 21: FY Profit & Loss (USD mn)
FY Profit & Loss (USD mn)1 FY 2024 FY 2023 ∆ yoy Adjusted EBITDA2 1,421 1,101 +29% Reported EBITDA 764 1,101 -31% D&A (313) (269) +17% Bad Debt (20) (11) +71% Impairment (36) (7) +387% Reported EBIT 395 814 -51% Financial expenses (164) (94) +76% Other non-financial result 9 241 -96% Reported EBT 23
Slide 22: Main business EBITDA breakdown
Main business EBITDA breakdown EBITDA Generation EBITDA Grids business line (USD mn)1,2 business line (USD mn)1 +10% +35% -33% -130% 1,423 92 1,051 61 447 24 405 Q4 2023 Q4 2024 FY 2023 FY 2024 -7 FY 2023 FY 2024 Q4 2023 Q4 2024 1. Comparisons between periods in the Financial Income Statements are m
Slide 23: Consolidation of our renewable matrix throughout the country
Consolidation of our renewable matrix throughout the country Central zone Net installed capacity7 PMGD 83 MW 5.6% 33 MW 78% 16.6% El Manzano3 99 MW REN + BESS +67 MW BESS 41.3% 2.3% 8.9 Los Cóndores4 153 MW Southern zone GW Don Humberto5 81 MW Renaico II 144 MW +67 MW BESS La Cabaña6 106 MW 34.2% +3
Slide 24: Commodities and Spot price outlook
Commodities and Spot price outlook Henry Hub (USD/mmBTU) Brent (USD/bbl) API 2 (USD/Ton) FY 2024: 2.3 FY 2024: 81 FY 2024: 112 FY 2023: 2.7 FY 2023: 83 FY 2023: 129 4.7 168 94 138 138 140 3.4 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
Slide 25: Hydrology outlook
Hydrology outlook Historic Enel Chile hydro generation (TWh) Rainfall in our most relevant basins2 2,200 4,000 2015 11.8 1,800 Cumulated rainfall (mm) 2016 9.1 3,000 1,400 2017 9.7 2,000 1,000 2018 11.4 600 1,000 2019 10.6 Maule Bío-Bío 200 (34% of consolidated Gx) (25% of consolidated Gx) 0 0 2020
Slide 26: Focus on electrification through our integrated margin offering
Focus on electrification through our integrated margin offering Integrated offering – Main KPIs Grids main KPIs FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 REN + BESS capacity +6% Charging points2,3 +28% Energy distributed6 +3% (GW) 6.5 6.9 (‘000) 2.8 3.6 14.2 14.7 (TWh) REN + BESS capacity +1.2
Slide 27: Enel Chile is the largest Utility player in Chile in installed capacity
Enel Chile is the largest Utility player in Chile in installed capacity Net installed capacity (GW) FY 2024 Hydro Solar Wind BESS Geo CCGT O&G Total YE 2024 2% North 22% Facilities (#) 1 13 7 - 2 1 2 26 Zone 41% 8.9 Net installed capacity (GW) 0.02 1.8 0.5 - 0.1 0.7 0.3 3.4 GW 34% Center Facilities
Slide 28: Enel Chile - Networks' business
Enel Chile - Networks’ business Overview Concession area: FY 2024 End users FY 2024 Physical energy sales 33 municipalities in the metropolitan region 2% 4% 7% 1% 5% 0% 15% 39% 2.2 11.3 mn TWh 37% 90% Residential Industrial Others Residential Industrial Others Market share 44% Commercial Tolls Comme
Slide 29: 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 30: 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 31: Organization structure
Organization structure Enel Chile shareholders1 64.9% 1.1% 7.3% Chile 22.2% Pension Funds Market Cap2 Institutional Investors USD 4.7 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 December 31, 2024 2. Market
Slide 32: 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 G. Manzulli People and Organization A. Pinto Security G. Turchiarelli L
Slide 33: Corporate governance structure
Corporate governance structure1 Shareholders’ meeting Audit firm 50% BoD’s composition Board of Directors (6 members - 1 vacancy) 50% Executive of Enel SpA Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 1. As of December 2024. 33
Slide 34: 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 35: 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 36: Contact us
Q4 & FY 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 37: Disclaimer
Q4 & FY 2024 consolidated 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 re