Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q3 2024 Earnings Presentation
41 slides from Enel Americas's earnings presentation, Oct 28, 2024
Slide 1: Third Quarter & Nine Months Consolidated results
Third Quarter & Nine Months Enel Américas Consolidated results October 28th, 2024
Slide 2: Key highlights and operational performance
Q3 & 9M 2024 Key highlights and operational performance Aurelio Bustilho CEO
Slide 3: Q3 2024 key highlights
Q3 2024 key highlights Operational Financial Financial CAPEX results results position USD 0.45 bn Additional ren. USD 0.94 bn USD 5.7 bn Grids CAPEX +30% vs PY capacity EBITDA -6% vsPY Gross debt -30% vs PY +0.8 GW in 2024 Fin. expenses -33% vs PY Energy distributed +3% Investment growth mainly Rene
Slide 4: Situation in Enel Dx São Paulo
Situation in Enel Dx São Paulo Effects from October 11, 2024 climate event Indicators Strongest storm in 30 years, with wind speeds exceeding 107 km/h, causing severe damage to our network, affecting ~3.1 million customers. Our investments in grid digitalization allowed us, through automation system
Slide 5: Colombia hydrology overview
Colombia hydrology overview The neutral ENSO phenomenon has started a drought in different systems Based Probabilistic ENSO Forecast1 Hydro reservoirs in Colombian system2 A neutral phenomenon probability has increased for 2024 - 2025 The neutral ENSO phenomenon has affected the reservoir renewal ca
Slide 6: Gross CAPEX
Gross CAPEX Completing renewable projects in core countries, relevant growth in Grids Brazil CAPEX by country CAPEX by business1 Asset development2 CAPEX by business 3% 1% 9% 28% 19% Q3 2024 41% US$ 450 mn US$ 450 mn US$ 149 mn (-37% YoY) (-37% YoY) (-64% YoY) 58% 63% 78% Argentina Grids Brazil 3% G
Slide 7: Renewables development
Renewables development ~0.8 GW added capacity in Brazil and Colombia 9M CAPEX breakdown1 Projects in execution Net capacity Expected Country & tech Project remaining COD 18% Guayepo II 24 MW 2025 (166 MW built) USD Brazil 0.4 bn Colombia Guayepo III 267 MW 2025 82% Atlantico 256 MW 2026 461 MW – Ari
Slide 8: Generation business highlights
Generation business highlights Facing difficult hydro scenario in Colombia, partially mitigated by renewables development Energy balance1 Net installed capacity (GW) 98% Enel Américas2 98% 96% Colombia 96% +7% 50.0 50.0 -3% 2% 46.6 46.6 11.1 9.8 16.6 16.6 16.1 16.1 8.8 9.4 98% renewables 7.6 2.0 3.5
Slide 9: Grids operational highlights
Grids operational highlights Solid growth led by Brazil; quality indicators affected by extreme climate events Electricity distributed (TWh) Grid customers (mn) Quality indicators1 SAIDI (hours) SAIFI (times) +4% +424k 9M 2023 9M 2024 9M 2023 9M 2024 Edesur 19.5 17.4 7.5 8.1 76.4 79.8 22.1 22.5 São
Slide 10: Economic and financial performance
Q3 & 9M 2024 Economic and financial performance Rafael de la Haza CFO
Slide 11: Financial highlights
Financial highlights 9M’24 EBITDA increase mainly due to Grids Colombia, Grids Argentina, and Gx Brazil EBITDA Net income Debt position (USD bn) (USD bn) (USD bn) +4% >3x 2.9 3.0 2.5 8.1 -30% 1.6 5.7 1.7 9M 0.8 6.5 3.4 0.8 2.3 9M 2023 9M 2024 9M 2023 9M 2024 -4% exc. Peru Dec. 2023 Sep. 2024 Sale of
Slide 12: EBITDA breakdown: Q3 2024 results
EBITDA breakdown: Q3 2024 results Decrease explained by Gx Colombia and Fx effect EBITDA evolution by business line (USD bn) EBITDA breakdown -6% 3% 6% Flat Argentina USD Brazil 1,000 1,000 1,000 0 5 (3) 939 36% Colombia (57) 54 (61) 939 mn 55% C. America 9% Grids Q2’23 Disposals 1 Adj. Q2’23 Genera
Slide 13: EBITDA breakdown: 9M 2024 results
EBITDA breakdown: 9M 2024 results Growth explained by Grids Argentina, Grids Colombia, Gx Brazil and Gx Central America EBITDA evolution by business line (USD bn) EBITDA breakdown +4% 2% 4% +7% Argentina 3,056 3,011 USD Brazil 2,899 2,869 19 7 (45) 37% Colombia (31) (86) 247 3,011 mn 57% C. America
Slide 14: Cash flow (USD bn)
Cash flow (USD bn) Positive trends in NWC and financial expenses led to a positive FCF 3.01 (0.44) USD 0.66 bn Asset development (0.49) CAPEX (0.47) 1.61 (1.52) 0.09 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses 9M 2023 2.90 (0.93) (0.55) (0.48) 0.94 (2.04) (1.10) Rounded figure
Slide 15: Debt (USD bn)
Debt (USD bn) Liability management actions led to a significant gross debt decrease Gross and net debt1 Net debt evolution Gross debt breakdown - 30% - 65% 12% 8.1 Currency BRL 1.6 (2.4) 6.5 0.3 USD (0.1) 52% COP 5.7 36% 5.7 bn USD (4.1) Debt reduction: (1.4) Brazil 3.4 6.5 (0.4) Colombia 2.3 (0.7)
Slide 16: Closing remarks
Closing remarks CAPEX increase to reinforce Grids quality, while completing investments in new capacity Energy demand increase in Grids and new renewable capacity helps mitigate lack of water Investor Day confirmed for November 22nd, 2024 Solid economic results despite a challenging scenario Improve
Slide 17: Annexes
Q3 & 9M 2024 Annexes ry Cl
Slide 18: Current scenario
Current scenario Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q32 ∆% 9M2 September September ‘24 vs ‘23 ‘24 vs ‘23 2023 2024 -0.8% September September Argentina -177% - 17
Slide 19: Regulation Update
Regulation Update • Resolution ENRE 518, 589 and 698 – On August, September and October, the regulator resumed publishing of the updated tariff charts, incorporating an average increase of 3% for August, 3% for September and 2.7% for October (at VAD level). This is on top of the 323% increase applie
Slide 20: Operating exhibits
Operating exhibits 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 543 0 162 0 705 Total 6,240 3,506
Slide 21: Operating exhibits
Operating exhibits Distribution companies Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country LTM (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,697,761 17,661 17.4 8.1 16.9% Buenos Aires, Argentina 3,309 2025 Enel Dx Rio 3,126,758 14,854 6.7 3.3 19.8
Slide 22: Operating exhibits
Operating exhibits Enel X & Retail Enel X Retail Sep. 2023 Sep. 2024 Δ% Charging points1 (th) 10.8 10.5 -3% Customers (th) Energy sold (TWh) Street lighting (th) 512 744 +45% +22% +16% 17.5 6.2 15.0 e-Buses (#) 925 926 0% 5.0 M&R2 contracts (th) 825 1,023 +24% PV3 (MWp installed) 31 67 2x Sep. 2023
Slide 23: Financial exhibits
Financial exhibits Reported results Q3 2024 Q3 2023 ∆YoY 9M 2024 9M 2023 ∆YoY Revenues 3,603 3,437 +5% 10,352 9,808 +6% Gross Margin 1,336 1,381 -3% 4,197 4,048 +4% OPEX (397) (381) +4% (1,186) (1,149) +3% Reported EBITDA 939 1,000 -6% 3,011 2,899 +4% D&A1 (341) (287) +19% (1,042) (902) +16% EBIT 59
Slide 24: Generation business results
Generation business results Quarter & YTD results Q3 EBITDA evolution (USD mn) 9M EBITDA by country (USD mn) 1% -17% 11% 462 382 1,147 43% (-8% YoY) 45% Q3 2023 Q3 1 2024 Argentina Colombia Brazil C. America 24
Slide 25: Grids business results
Grids business results Quarter & YTD results Q3 EBITDA evolution (USD mn) 9M EBITDA by country (USD mn) +3% 2% 564 580 32% 1,926 (+11% YoY) 66% Q3 2023 Q3 2024 Argentina Colombia Brazil C. America 25
Slide 26: Argentina (USD mn)
Argentina (USD mn) Quarter results Generation 1 Grids1 Total 2 Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Revenues 2 19 >100% 271 430 59% 273 449 64% Procurements -2 -2 13% -198 -306 54% -200 -308 53% and Services OPEX 0 -7 <-100% -69 -108 56% -70 -115 66% EBITDA 1 10 >100% 4 17 >100% 3 2
Slide 27: Argentina (USD mn)
Argentina (USD mn) YTD results Generation 1 Grids1 Total 2 9M 2023 9M 2024 % 9M 2023 9M 2024 % 9M 2023 9M 2024 % Revenues 48 42 -12% 771 1,013 31% 819 1,055 29% Procurements -4 -4 -4% -612 -697 14% -618 -701 13% and Services OPEX -14 -21 48% -210 -274 31% -229 -296 29% EBITDA 29 17 -42% -51 42 <-100
Slide 28: Brazil (USD mn)
Brazil (USD mn) Quarter results Generation 1 Grids1 Total 2 Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Revenues 277 295 6% 1,789 1,832 2% 2,076 2,131 3% Procurements -84 -105 24% -1,204 -1,301 8% -1,291 -1,404 9% and Services OPEX -33 -32 0% -183 -151 -18% -240 -207 -14% EBITDA 160 158 -2
Slide 29: Brazil (USD mn)
Brazil (USD mn) YTD results Generation 1 Grids1 Total 2 9M 2023 9M 2024 % 9M 2023 9M 2024 % 9M 2023 9M 2024 % Revenues 819 868 6% 5,330 5,275 -1% 6,173 6,153 0% Procurements -265 -276 4% -3,472 -3,512 1% -3,743 -3,783 1% and Services OPEX -88 -97 10% -534 -488 -9% -697 -651 -7% EBITDA 466 494 6% 1,3
Slide 30: Colombia (USD mn)
Colombia (USD mn) Quarter results Generation 1 Grids1 Total 2 Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Revenues 518 458 -12% 535 529 -1% 998 931 -7% Procurements -220 -280 27% -347 -307 -11% -512 -531 4% and Services OPEX -26 -23 -9% -30 -39 29% -57 -63 11% EBITDA 273 155 -43% 158 183 1
Slide 31: Colombia (USD mn)
Colombia (USD mn) YTD results Generation 1 Grids1 Total 2 9M 2023 9M 2024 % 9M 2023 9M 2024 % 9M 2023 9M 2024 % Revenues 1,287 1,360 6% 1,443 1,691 17% 2,581 2,888 12% Procurements -541 -766 42% -892 -964 8% -1,282 -1,565 22% and Services OPEX -67 -82 22% -90 -118 31% -164 -201 23% EBITDA 679 512 -2
Slide 32: Central America (USD mn)
Central America (USD mn) Quarter & YTD results Central America Q3 2023 Q3 2024 % 9M 2023 9M 2024 % Revenues 91 92 2% 234 255 9% Procurements -53 -24 -55% -117 -106 -9% and Services OPEX -9 -9 -3% -37 -25 -32% EBITDA 29 60 >100% 80 124 55% Net Income 12 33 >100% -42 51 <-100% Gross Capex 7 1 -78% 25
Slide 33: Peru (USD mn) – Sold assets
Peru (USD mn) – Sold assets Quarter & YTD results 1 1 2 Generation Grids Total Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Q3 2023 Q3 2024 % Revenues 221 21 -91% 276 0 <-100% 496 21 -96% Procurements -113 -7 -94% -187 0 <-100% -300 -7 -98% and Services OPEX -23 -3 -87% -26 0 <-100% -49 -3 -94% EBITDA 84 11
Slide 34: Consolidated financial position
Consolidated financial position Liquidity, debt maturities and credit profile Liquidity position Debt maturities (USD bn) Credit profile Average maturity of Baa2/Stable 3.5 years (June 2024) 28% 2.7 BBB-/Stable (February 2024) USD 4.7 bn 1.5 1.1 72% BBB+/Stable (March 2024) 0.4 2024 2025 2026 After
Slide 35: ESG raters and rankings
ESG raters and rankings 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 2022 2023 2019 2020 2021 2022 20
Slide 36: Corporate governance structure
Corporate governance structure 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 parties' transactions 36
Slide 37: Board composition
Board composition 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% Tenure 29% Nationality diversity di
Slide 38: Policies, principles and codes
Enel Américas - 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
Slide 39: Disclaimer
Q3 & 9M 2024 Consolidated results 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 expectations of Enel Américas and its
Slide 40: Contact us
Q3 & 9M 2024 Consolidated results 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 Sebastián Cisternas Francisco Bas
Slide 41: CNC
CNC