Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q1 2025 Earnings Presentation
33 slides from Enel Americas's earnings presentation, May 5, 2025
Slide 1: Enel Américas Q1 2025 Consolidated results
First Quarter Enel Américas Consolidated results May 5th, 2025
Slide 2: Key highlights and operational performance
Q1 2025 Key highlights and operational performance Aurelio Bustilho CEO
Slide 3: Key highlights
Key highlights \\psf\Home\Desktop\ENELLOGO1.jpg Operational Financial Financial CAPEX results results position USD 0.30 bn +23% vs PY USD 1.13 bn USD 0.33 bn Adj. Grids CAPEX +11% Renewable generation Adj. EBITDA +5% Fin. expenses -21% Net of Fx Grids CAPEX increase Relevant increase in solar & wind
Slide 4: 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 March 28 Tariff review – Dx and Cx 1 2 +
Slide 5: Gross CAPEX
Gross CAPEX \\psf\Home\Desktop\ENELLOGO1.jpg Focus on Grids aligned with Strategic Plan goals CAPEX by country and business1 Grids CAPEX breakdown2 0% 1% 12% 25% 29% 30% Net of Fx 41% Networks upgrade USD 406 mn USD 406 mn Grids CAPEX3 USD 300 mn +42% YoY +11% YoY (-27% YoY) (-27% YoY) (-2%YoY) 74%
Slide 6: Grids operational highlights
Grids operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg Improvement in SAIDI across the board and continued deployment of smart meters Electricity distributed (TWh) Grids customers (mn) Quality indicators2 SAIDI (hours) SAIFI (times) +0.2% +397k Q1 2024 Q1 2025 Q1 2024 Q1 2025 27.3 27.3 Edesur
Slide 7: Generation operational highlights
Generation operational highlights \\psf\Home\Desktop\ENELLOGO1.jpg +1.2 TWh renewable generation due to capacity expansion & better hydrology in Colombia Net installed capacity (GW) Energy balance1 (TWh) 2% 98% renewables 97% +13% 99% 22% 17.4 17.4 15.4 15.4 4.2 3.8 12.9 49% 4.2 3.2 GW 3.4 2.6 0.1 8
Slide 8: Economic and financial performance
Q1 2025 Economic and financial performance Rafael de la Haza CFO
Slide 9: Financial highlights
Financial highlights \\psf\Home\Desktop\ENELLOGO1.jpg Adj. EBITDA growth on better hydrology in Colombia and tariff indexation in Argentina Adj. EBITDA1 Adj. Net income2 FFO (USD bn) (USD bn) (USD bn) +5% -5% +6% 1.08 1.13 0.44 0.47 0.25 0.24 Q1 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Report
Slide 10: EBITDA breakdown: Q1 2025 results
EBITDA breakdown: Q1 2025 results \\psf\Home\Desktop\ENELLOGO1.jpg Important recovery in Generation explained by better hydro generation in Colombia EBITDA evolution by business line (USD mn) EBITDA breakdown -6% 3% 6% +5% Argentina 1,133 USD Brazil 1,077 (6) 7 8 50% 46 (126) 1,007 41% 1,007 mn Colo
Slide 11: Cash flow (USD bn)
Cash flow (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg FFO improvement driven by lower taxes and net financial expenses 1.01 (0.34) (0.10) (0.10) 0.47 (0.41) 0.06 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses Q1 2024 1.08 (0.28) (0.19) (0.17) 0.44 (0.56) (0.12) Rounded figures. (1)
Slide 12: Debt (USD bn)
Debt (USD bn) \\psf\Home\Desktop\ENELLOGO1.jpg Net debt increase due to Fx appreciation vs December 2024 and dividend payment Gross and net debt1 Net debt evolution Gross debt breakdown +8% +34% 12% 0% 5.7 5.2 BRL Currency USD 48% COP 2.8 5.7 bn USD 3.1 2.9 39% ARS 0.3 0.1 2.1 0.4 (0.1) 2.9 2.1 1% 1
Slide 13: Closing remarks
Closing remarks \\psf\Home\Desktop\ENELLOGO1.jpg Distribution concession renewal in Brazil well on track CAPEX aligned with Strategic Plan guidelines, Total dividends from focusing on Grids to reinforce quality and 2024 Net income resilience USD 0.78bn EBITDA net of Fx improving due to better result
Slide 14: Q1 2025 Annexes
Q1 2025 Annexes nr Cl
Slide 15: 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 ∆% Q12 March March ‘25 vs ‘24 2024 2025 Argentina -2.1% March March Argentina -
Slide 16: Operating exhibits: Distribution companies
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Distribution companies Energy SAIDI SAIFI Energy Concession Next tariff Distributor Costumers distributed City, Country (hours) (times) losses (%) area (km2) review LTM (GWh) Edesur 2,729,178 17,456 16.8 8.6 17.7% Buenos Aires, Argentina 3,309 2025
Slide 17: 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 18: Energy balance – Consolidated, Colombia and Brazil
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Energy balance – Enel Américas Consolidated, Colombia and Brazil 97% Enel Américas 99% 92% Colombia 97% 100% Brazil 100% Hydro +13% 17.4 17.4 +9% 5.3 5.3 +19% 10.7 10.7 Renewables Own production 15.4 15.4 4.8 4.8 4.2 3.8 0.8 1.1 9.0 9.0 2.4 Thermal
Slide 19: Operating exhibits: Enel X & Retail
Operating exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Enel X & Retail Enel X Retail Mar. 2024 Mar. 2025 Δ% Charging points1 (th) 11.0 13.4 +22% Customers (th) Energy sold (TWh) Street lighting (th) 687 744 +8% +10% +2% 5.7 5.8 6.2 5.6 e-Buses (#) 925 926 0% M&R2 contracts (th) 851 973 +14% PV3 (MWp in
Slide 20: Financial exhibits: Reported results
Financial exhibits \\psf\Home\Desktop\ENELLOGO1.jpg Reported results Q1 2025 Q1 2024 ∆YoY Revenues 3,280 3,373 -3% Gross Margin 1,418 1,457 -3% OPEX (410) (380) +8% Reported EBITDA 1,007 1,077 -6% D&A1 (359) (347) +3% EBIT 649 730 -11% Net financial results (166) (181) -8% Non operating results (1)
Slide 21: Grids business results
Grids business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Q1 EBITDA evolution (USD mn) Q1 EBITDA by country (USD mn) -14% 709 4% 613 33% 613 (-14% YoY) 64% Q1 2024 Q1 2025 Argentina Brazil Colombia 21
Slide 22: Generation business results
Generation business results \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Q1 EBITDA evolution (USD mn) Q1 EBITDA by country (USD mn) +4% 2% 14% 392 407 32% 407 (+4% YoY) 52% Q1 2024 Q1 2025 Argentina Colombia Brazil C. America 22
Slide 23: Argentina (USD mn)
Argentina (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Revenues 10 13 29% 236 410 74% 246 423 72% Procurements -1 -1 22% -163 -276 69% -166 -277 67% and Services OPEX -11 -3 -73% -64 -112 73% -75 -115 53% EB
Slide 24: Brazil (USD mn)
Brazil (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Revenues 285 295 3% 1,790 1,577 -12% 2,079 1,875 -10% Procurements -95 -136 44% -1,120 -1,012 -10% -1,213 -1,142 -6% and Services OPEX -30 -29 -3% -176 -17
Slide 25: Colombia (USD mn)
Colombia (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Generation1 Grids1 Total2 Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Q1 2024 Q1 2025 % Revenues 437 411 -6% 583 540 -7% 968 899 -7% Procurements -225 -176 -22% -340 -301 -11% -512 -423 -17% and Services OPEX -27 -22 -17% -36 -39 8% -63 -61
Slide 26: Central America (USD mn)
Central America (USD mn) \\psf\Home\Desktop\ENELLOGO1.jpg Quarter results Central America Q1 2024 Q1 2025 % Revenues 80 83 3% Procurements -25 -20 -20% and Services OPEX -8 -7 -11% EBITDA 47 56 18% Net Income 18 29 57% Gross Capex 1 1 -12% Net Production 649 733 13% (GWh) Energy Sales 805 888 10% (G
Slide 27: 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 2.5 Baa2/Stable 3.6 years (June 2024) 30% BBB-/Stable 1.4 (February 2024) USD 4.0 bn 1.2 70% 0.6 BBB+/Stable (
Slide 28: Corporate governance structure
Corporate governance structure \\psf\Home\Desktop\ENELLOGO1.jpg Shareholders’ meeting Audit firm 29% BoD’s composition 14% Board of Directors 57% (7 members) Executive of the Enel Group Independent Non-executive elected by Enel SpA Functions: Directors Committee Audit committee Sustainability commit
Slide 29: Board composition
Board composition \\psf\Home\Desktop\ENELLOGO1.jpg Board of Directors Board of Directors’ diversity Borja Acha Besga Chairman 14% Luca Lo Voi Director Gender diversity Roberto Deambrogio Director 86% Male Female Director José Antonio Vargas Directors’ Committee 14% 14% Britaldo Soares Director 14% 1
Slide 30: 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 31: Disclaimer
Q1 2025 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 expectati
Slide 32: Thank you. Contact us
Q1 2025 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 Sebas
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