Enel Americas S.a. · BCS:ENELAM
Enel Americas — FY2024 Earnings Presentation
40 slides from Enel Americas's earnings presentation, Feb 28, 2025
Slide 1: Enel Américas Consolidated results Q4 & FY 2024
Fourth Quarter & Full Year Enel Américas Consolidated results February 28th, 2025
Slide 2: Key highlights and operational performance
Q4 & FY 2024 Key highlights and operational performance Aurelio Bustilho CEO
Slide 3: FY 2024 key highlights
FY 2024 key highlights \\psf\Home\Desktop\ENELLOGO1.jpg Operational Financial Shareholder CAPEX results results remuneration USD 1.37 bn Additional capacity USD 3.7 bn USD 0.8 bn1 2024 Grids CAPEX +0.8 GW in 2024 FY EBITDA flat Total dividend attributable to 2024 net income +16% vsPY Wind + Solar ge
Slide 4: 2024 at a glance
2024 at a glance \\psf\Home\Desktop\ENELLOGO1.jpg Resilient performance in a complex scenario ! Hydro situation in Colombia, leading to lower generation and higher energy purchase costs ! Blackout in São Paulo in Oct-2024, with extreme weather events becoming more frequent ! Curtailment in wind and
Slide 5: Gross CAPEX
Gross CAPEX \\psf\Home\Desktop\ENELLOGO1.jpg Strengthening our focus on Grids in line with current Strategic Plan CAPEX by country and business1 Asset development2 CAPEX – Grids 1% 6% 13% 12% 27% 31% Q4 2024 29% Grids CAPEX USD 577 mn USD 577 mn +37% YoY USD 90 mn (-16% YoY) (-16% YoY) (+65% YoY) 65
Slide 6: Grids operational highlights
Grids operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg Continued growth in Brazil and relevant deployment of smart meters in 2024 Electricity distributed (TWh) & Grids customers (mn) Quality indicators2 SAIDI (hours) SAIFI (times) +3% FY 2023 FY 2024 FY 2023 FY 2024 106.9 +414k 103.4 Edesur 1
Slide 7: Generation operational highlights
Generation operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg Over 800 MW of additional capacity in Brazil and Colombia Net installed capacity (GW) Energy balance2-3 (TWh) 2% 98% renewables 97% +1% 97% 22% +0.8 GW 62.2 62.2 65.7 65.7 capacity built in 15.0 12.6 12.9 13.4 12.2 49% 2024 GW 0.7 10
Slide 8: Economic and financial performance
Q4 & FY 2024 Economic and financial performance Rafael de la Haza CFO
Slide 9: Financial highlights
Financial highlights \\psf\Home\Desktop\ENELLOGO1.jpg FY’24 EBITDA flat on mixed effects across countries and businesses EBITDA Net income Debt position (USD bn) (USD bn) (USD bn) In line ~3x -35% 3.7 3.7 2.6 8.1 1.6 5.2 1.7 FY 0.9 6.5 3.1 0.9 2.1 FY 2023 FY 2024 FY 2023 FY 2024 Dec. 2023 Dec. 2024
Slide 10: EBITDA breakdown: Q4 2024 results
EBITDA breakdown: Q4 2024 results \\psf\Home\Desktop\ENELLOGO1.jpg Decrease mainly explained by Grids, Gx Colombia and Fx effect EBITDA evolution by business line (USD mn) EBITDA breakdown -15% 7% In line Argentina 25% USD Brazil 724 mn Colombia 848 852 C. America 2 12 (13) 3 69% (128) 724 10% Grids
Slide 11: EBITDA breakdown: FY 2024 results
EBITDA breakdown: FY 2024 results \\psf\Home\Desktop\ENELLOGO1.jpg In line with 2023, growth in Grids and Customers offset by Generation and Fx effect EBITDA evolution by business line (USD mn) EBITDA breakdown In line 1% 5% +3% Argentina 3,836 35% USD Brazil 3,729 0 14 3,735 (102) 196 (101) 3,735 m
Slide 12: Cash flow (USD bn)
Cash flow (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg Positive trends in NWC and financial expenses led to a positive FCF 3.74 (0.19) (0.57) (0.59) 2.39 (2.10) 0.29 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses FY 2023 3.75 (0.62) (0.64) (0.87) 1.62 (2.73) (1.11) Rounded figures.
Slide 13: Debt (USD bn)
Debt (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg Liability management actions led to a significant gross debt decrease Gross and net debt1 Net debt evolution Gross debt breakdown -35% - 65% 12% 0% 8.1 BRL Currency 1.6 (2.9) 6.5 USD 44% COP (0.3) 0.5 5.2 5.2 bn USD ARS 43% Debt reduction: (4.0) (2.1) B
Slide 14: Regulatory scenario
Regulatory scenario \\psf\Home\Desktop\ENELLOGO1.jpg Key recent and expected developments for our main markets Dx concession renewal – Expected timetable Publication of base ANEEL’s recommendation Signing of concession contract to the MME concession contract Distribution and commercialization 1 + 30
Slide 15: Closing remarks
Closing remarks \\psf\Home\Desktop\ENELLOGO1.jpg CAPEX aligned with Strategic Plan guidelines, focusing on Grids to reinforce quality and resilience EBITDA in line with PY, showing a resilient Total dividends 2025 performance in a complex scenario USD 0.8 bn1 Completion of our disposal plan led to r
Slide 16: Annexes
Q4 & FY 2024 Annexes nr Cl
Slide 17: 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 ∆% Q42 ∆% FY2 December December ‘24 vs ‘23 ‘24 vs ‘23 2023 2024 -2.6% December
Slide 18: Operating exhibits: Net installed capacity and production
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 1,845 0 6,622 Colombia 3,097 0 882 226 4,205 Central America
Slide 19: Operating exhibits: Energy balance of Colombia and Brazil
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Energy balance of Colombia and Brazil 97% Enel Américas 97% 96% Colombia 93% 100% Brazil 100% 62.2 62.2 +1% 65.7 65.7 21.6 21.6 -2% 21.3 21.3 +10% 38.0 38.0 34.5 34.5 15.0 12.6 3.5 4.1 4.6 3.8 9.7 8.3 13.4 12.2 7.6 2.2 8.9 10.2 10.4 0.7 0.3 4.6 2.7
Slide 20: Operating exhibits: Distribution companies
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Distribution companies Energy SAIDI SAIFI Energy Concession Next tariff Distributor Clients distributed City, Country (hours) (times) losses (%) area (km2) review LTM (GWh) Edesur 2,713,498 17,551 16.2 8.0 17.2% Buenos Aires, Argentina 3,309 2025 E
Slide 21: Operating exhibits: Enel X & Retail
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Enel X & Retail Enel X Retail Dec. 2023 Dec. 2024 Δ% Charging points1 (th) 9.6 11.0 +15% Customers (th) Energy sold (TWh) Street lighting (th) 687 759 +11% +24% +15% 23.4 6.4 20.3 e-Buses (#) 925 926 0% 5.2 M&R2 contracts (th) 1,051 1,021 -3% PV3 (
Slide 22: Financial exhibits: Reported results
Financial exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Reported results Q4 2024 Q4 2023 ∆YoY FY 2024 FY 2023 ∆YoY Revenues 3,552 3,080 +15% 13,904 12,888 +8% Gross Margin 1,160 1,168 -1% 5,357 5,216 +3% OPEX (435) (319) +37% (1,621) (1,468) +10% Reported EBITDA 724 849 -15% 3,735 3,749 -0% D&A1 (492) (
Slide 23: Generation business results
Generation business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Q4 EBITDA evolution (USD mn) FY EBITDA by country (USD mn) -16% 1% 13% 273 230 1,377 47% (-10% YoY) 39% Q4 2023 Q4 2024 Argentina Colombia Brazil C. America 23
Slide 24: Grids business results
Grids business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Q4 EBITDA evolution (USD mn) FY EBITDA by country (USD mn) -14% 594 1% 513 31% 2,439 (+5% YoY) 67% Q4 2023 Q4 2024 Argentina Brazil Colombia 24
Slide 25: Argentina (USD mn) Quarter results
Argentina (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Revenues -6 7 <-100% -149 342 <-100% -154 349 <-100% Procurements 0 -1 <-100% 131 -251 <-100% 131 -251 <-100% and Services OPEX 2 -4 <-100% 14 -103 <-10
Slide 26: Argentina (USD mn) YTD results
Argentina (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation1 Grids1 Total2 FY 2023 FY 2024 % FY 2023 FY 2024 % FY 2023 FY 2024 % Revenues 42 49 18% 623 1,355 >100% 665 1,405 >100% Procurements -4 -5 28% -481 -948 97% -487 -953 96% and Services OPEX -12 -25 >100% -196 -378 93% -212 -40
Slide 27: Brazil (USD mn) Quarter results
Brazil (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Revenues 279 361 30% 1,860 1,785 -4% 2,179 2,160 -1% Procurements -101 -180 78% -1,240 -1,240 0% -1,373 -1,424 4% and Services OPEX -33 -33 1% -206 -173 -1
Slide 28: Brazil (USD mn) YTD results
Brazil (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation1 Grids1 Total2 FY 2023 FY 2024 % FY 2023 FY 2024 % FY 2023 FY 2024 % Revenues 1,098 1,229 12% 7,190 7,059 -2% 8,352 8,313 0% Procurements -366 -456 24% -4,712 -4,752 1% -5,115 -5,207 2% and Services OPEX -121 -131 8% -740 -661 -
Slide 29: Colombia (USD mn) Quarter results
Colombia (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Revenues 436 497 14% 585 508 -13% 968 956 -1% Procurements -307 -429 40% -363 -310 -14% -617 -690 12% and Services OPEX -29 -40 36% -38 -44 16% -68 -84 2
Slide 30: Colombia (USD mn) YTD results
Colombia (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg YTD results Generation1 Grids1 Total2 FY 2023 FY 2024 % FY 2023 FY 2024 % FY 2023 FY 2024 % Revenues 1,723 1,857 8% 2,027 2,199 8% 3,549 3,843 8% Procurements -848 -1,195 41% -1,254 -1,274 2% -1,899 -2,254 19% and Services OPEX -97 -122 26% -128 -16
Slide 31: Central America (USD mn)
Central America (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Central America Q4 2023 Q4 2024 % FY 2023 FY 2024 % Revenues 88 87 -1% 322 343 6% Procurements -54 -27 -50% -170 -133 -22% and Services OPEX -3 -11 >100% -40 -36 -11% EBITDA 31 50 60% 111 174 56% Net Income 12 19 59% -30
Slide 32: Peru (USD mn) – Sold assets
Peru (USD mn) – Sold assets \\psf\Home\Desktop\ENELLOGO1.jpg Quarter & YTD results Generation1 Grids1 Total2 Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Q4 2023 Q4 2024 % Revenues 205 19 -91% 273 0 <-100% 478 19 -96% Procurements -58 -7 -88% -184 0 <-100% -242 -7 -97% and Services OPEX -28 -3 -91% -27 0 <-1
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 2.3 Baa2/Stable 3.8 years (June 2024) 29% 1.4 BBB-/Stable (February 2024) USD 4.4 bn 1.1 71% 0.5 BBB+/Stable (
Slide 34: ESG raters and rankings
ESG raters and rankings \\psf\Home\Desktop\ENELLOGO1.jpg Corporate Sustainability Climate Change ESG Ratings ESG Rating Assessment AAA BBB 67 A- 53 76 B BBB 35 Enel Américas Industry Enel Américas Industry Enel Américas Industry Enel Américas Industry score average score average score average score
Slide 35: Corporate governance structure
Corporate governance structure1 \\psf\Home\Desktop\ENELLOGO1.jpg Shareholders’ meeting Audit firm 33% BoD’s composition 17% Board of Directors (7 members) 50% Executive Independent Non-executive elected by Enel SpA Functions: Directors Committee Vacancy Audit committee Sustainability committee Relat
Slide 36: Board composition
Board composition \\psf\Home\Desktop\ENELLOGO1.jpg Board of Directors Board of Directors’ diversity1 Borja Acha Besga Chairman 17% Director José Antonio Vargas Directors’ Committee Gender diversity Luca Lo Voi Director 83% Male Female Britaldo Soares Director 17% 17% Directors’ Committee Iris Boenin
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
Q4 & FY 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.
Q4 & FY 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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