Enel Americas S.a. · BCS:ENELAM
Enel Americas — Investor Presentation (March 2024)
40 slides from Enel Americas's investor presentation, March 2024
Slide 1: Corporate Presentation
Corporate Presentation Enel Américas March 2024
Slide 2: Key considerations
Key considerations Diversified investment vehicle in the Focus our efforts on strategic countries region with ESG principles integrated in and assets aligned with faster energy our long-term strategy transition and electrification Grids: Focus on countries with Prioritize products and services that
Slide 3: Index
Index 1 Enel Américas at a glance 2 2024-2026 Strategic Plan 3 Q4 & FY 2023 Results
Slide 4: Enel Américas at a glance
Enel Américas at a glance CNC l
Slide 5: Enel Américas at a glance
Enel Américas at a glance Ownership structure1 2023 Retail Institutional 0.85% Reported EBITDA (US$ bn) 3.7 investors; 8.51% Chilean pension Group Net Income (US$ bn) 0.9 Funds; 8.37% # shares CAPEX (US$ bn) 3.0 107,279,889,530 Enel S.p.A 82.27% Net debt / EBITDA (times) 1.7 Installed capacity (GW)
Slide 6: Diversified investment vehicle in the region
Diversified investment vehicle in the region Enel Américas is Latin America’s largest private power company Corporate simplification process ongoing Central Brazil Colombia Argentina Peru FY 2023 America Installed 5,968 4,039 705 1,328 2,589 14,629 GENERATION capacity (MW) Energy sales 34.5 21.6 3.3
Slide 7: Gross CAPEX – FY 2023
Gross CAPEX – FY 2023 Investments in Renewables and Grids aligned with our Strategic Plan targets CAPEX by country CAPEX by business1 Asset development2 CAPEX by business 1% 3% 8% 4% 6% 14% 21% US$ 3.0 bn US$ 3.0 bn 44% (-17% YoY) US$ 1.6 bn (-17% YoY) (-15% YoY) 50% 66% 83% Argentina Grids Brazil G
Slide 8: Generation
Generation Portfolio mainly represented by renewable technologies Net installed capacity EBITDA1 (US$ mn) Strategic actions 5% 2% 2% 3% +1% ~1.8 GW added in 2023 7% Clear path to organic growth in 90% renewables 0.3 0.2 0.0 renewable power generation 2023 40% 14.6 GW 48% US$ 1.5 bn Solid pipeline to
Slide 9: Robust pipeline of ~48 GW, enabling the path to decarbonization
Robust pipeline of ~48 GW, enabling the path to decarbonization Gross Pipeline 1 (GW) ~20 ~1 ~26 ~48 0.8 2 Gross Pipeline Early Stage BESS Mature In Execution Gross Pipeline by country Projects in execution 1% 1% Country Project MW Tech. 30% Arinos 461 22% 22% ~48 GW Pedra 194 Pintada 68% Guayepo 19
Slide 10: Grids
Grids Regulated business with attractive returns Strategic actions Main KPIs EBITDA1 (US$ bn) 2021 20221 2023 Ensure the highest level of Grid customers quality at the lowest cost (mn) 26.2 23.3 23.8 27% across all grids 2023 Energy 119.8 122.6 112.0 US$ 2.3 bn Improving the digitalization distribut
Slide 11: Grids
Grids With clear parameters for our concessions Argentina Brazil Colombia Business model Price cap Price cap Revenue cap WACC 12.5% 11.2% 12.1% real pre tax Next Regulatory 20242 2027-28 2025 Period Regulatory 5 (Río) Period Length 5 4 (Ceará, São 5 (years) Paulo) Metering Owned by Owned by Owned by
Slide 12: 2024-2026 Strategic Plan
2024-2026 Strategic Plan CNC l
Slide 13: Our strategic pillars 2024-26
Our strategic pillars 2024-26 Corporate simplification 1 Focus efforts on strategic countries, completing main processes announced on 2022 2 Grids 3 Generation 4 Customers Focus on countries with Selective investments Prioritize products and constructive regulation, based on a risk-reward services t
Slide 14: Completing M&A execution, optimizing our portfolio in the region
Completing M&A execution, optimizing our portfolio in the region… Corporate simplification execution Net proceeds2 of USD 3.8 bn from deals Argentina: Thermal generation assets closed and signed, with USD 0.9 bn in net debt Deals deconsolidation closed Brazil: Tx Cien concession ~95% of proceeds & d
Slide 15: Selective CAPEX allocation on strategic businesses
…with selective CAPEX allocation on our strategic businesses focused on returns… Total CAPEX 2024-261 By country / business line By country By business line Core countries (Brazil & Colombia) capturing most of our investments 1% 3% 1% 1% 5% Focus on Grids, deploying CAPEX on visible and remunerative
Slide 16: Grids investments aimed towards digitalization and profitability
…and Grids investments aimed towards digitalization and profitability… Gross CAPEX1 Grid customers (mn) Energy distributed (TWh) +5% +2% 85.4 87.0 19.5 20.5 1% 4% 0.7 2.9 21% 2023 2026 2023 2026 Proforma Proforma 2024-26 Smart meters USD 3.9 bn Key drivers RAB2 (USD bn) 74% +8% OPEX / CAPEX efficien
Slide 17: High quality standards and lower energy losses
…while focusing on high quality standards, coupled with lower energy losses to boost profitability Key drivers Energy losses (%) SAIDI (hours) SAIFI (times) Quality - 0.7 p.p. - 7% + 3% Investments to improve quality and resiliency, along with lower energy losses 12.0% 7.4 3.9 4.0 11.3% to increase
Slide 18: Reaching 98% renewable capacity, exiting non-core geographies
…reaching 98% renewable capacity, exiting non-core geographies… Gross CAPEX1 Installed capacity (GW) Net production (TWh) 14.6 1.4 12.1 +18% 2.6 3.9 0.2 1.5 42.3 3.4 35.8 3% 1%1% 3.6 1.3 3.5 7.0 0.2 4.9 2023 Disposals Added 2026 2023 2026 2024-26 42% capacity Proforma USD 1.5 bn Hydro Wind Solar The
Slide 19: Customers investments to maximize clients' engagement
Customers investments to maximize clients’ engagement and satisfaction Gross CAPEX1 Free market customers (th) Key drivers +81% 9.4 3% 3% 5.2 Profitability Prioritize products and services that can accelerate electrification (i.e. electromobility and public lighting) 32% 2024-26 2023 2026 USD 0.3 bn
Slide 20: Focusing on Grids with visible and predictable returns
…focusing on Grids with visible and predictable returns… Gross CAPEX EBITDA evolution (USD bn) FY 2023 2023 2026 Quality, Proforma Resiliency & Grids 2.1 OPEX/Grid cust.1 Digitalization management (USD/grid cust.) 30 25 +9% 23% 2.2-2.3 RAB/Grid cust. 2.1 0.2 (USD/grid cust.) 486 503 37% (0.1) 0.1 0.
Slide 21: Growth focus on Generation fully on Renewables
…while the growth focus on Generation is fully on Renewables… Gross CAPEX EBITDA evolution (USD bn) FY 2023 2023 2026 Proforma Maintenance 1.5 EBITDA/MWh 38 42 +24% (USD/MWh) 24% 1.7-1.8 0.01 OPEX/MW (th USD/MW)1 24 18 2024-26 0.28 1.4 (0.01) 0.04 USD 1.5 bn 76% 100% sales coverage through own produ
Slide 22: Continue boosting electrification through Customers
…and to continue boosting electrification through Customers CAPEX by country EBITDA evolution (USD bn) FY 2023 3% 3% Proforma 0.32 +32% 0.42-0.44 32% 2024-26 USD 0.3 bn 62% 0.33 0.19 (0.03) (0.05) Brazil Colombia Argentina Peru 2023 Fx & CPI OPEX Growth 2026 Proforma Rounded figures. 2023 Proforma e
Slide 23: Managerial actions and CAPEX optimization drive cash generation
Managerial actions and CAPEX optimization drive cash generation… 13.7 (0.3) (2.2) Managerial actions to improve NWC1 (1.4) 9.7 dynamics.. (5.7) … along with selective capital allocation to drive organic cash (2.0) generation 2.1 1 EBITDA Provisions Taxes paid Net financial FFO Gross Dividends Net FC
Slide 24: Defined uses for funds from corporate simplification
…with defined uses for funds generated from corporate simplification… Proceeds & uses from M&A1 (USD bn) Leverage goals Multiple alternatives to re-leverage the company to a sound level during the plan period Liability management Net debt / EBITDA 1.9 & others 1.4 ~1.0 – 3.8 1.5 1.2 Sao Paulo pensio
Slide 25: Reducing cost and risk profile of gross debt
…while we reduce the cost and risk profile of our gross debt… 2026 Gross debt structure Cost of debt evolution By currency By interest rate Financial Expenses 0.69 0.48 0.39 0.36 (USD bn) 13.4% Fixed 13.3% 12.2% 9.7% 9% 9.2% 8.9% 45% 5.2% USD 5.3 bn USD 5.3 bn 4.0% 55% 91% 2023 2024 2025 2026 BRL CO
Slide 26: Strong liquidity position and smooth maturities calendar
…and with a strong liquidity position and smooth maturities calendar Liquidity available1 Debt maturity by year1 (USD bn) Maturities / 33% 13% 19% Gross debt Cash 5.3 1.4 USD 3.0 bn 1.6 2.7 Available committed 1.5 credit lines 1.1 2024 2025 2026 Total + USD 3.8 bn of net proceeds from 2024-26 our co
Slide 27: Strategic Plan targets 2024-26
Strategic Plan targets 2024-26 EBITDA (USD bn) Group net income (USD bn) CAPEX (USD bn) +6% +19% CAGR 23-26 CAGR 23-26 4.4-4.6 1.4-1.5 4.3-4.5 3.0 0.3-0.4 3.7 1.0-1.1 2.3 0.9 1.6 4.1-4.2 2023 2024 2026 Proforma 2023 2024 2026 2023 2024 2026 Disposals Rounded figures. 2023 Proforma excludes Argentina
Slide 28: Q4 & FY 2023 Results
Q4 & FY 2023 Results CNC l
Slide 29: Generation operational highlights
Generation operational highlights Solid growth in RES net production; emission-free production reached 85% Net installed capacity (GW) Net production (TWh) -5% -12% 0.2 53.4 50.6 Net production 1.6 0.6 Hydro 12.9 12.4 2.3 4.7 0.0 0.6 0.2 11.3 Wind & Solar 5% 2% 2.7 0.3 13.5 14.7 CCGT 3% 3.1 0.9 3.6
Slide 30: Grids - operational highlights
Grids - operational highlights Digitalization efforts and increase in net RAB to drive future growth and profitability Electricity distributed (TWh) Grid customers (mn) Quality indicators1,2,3 SAIDI (hours) SAIFI (times) +460k +4% FY 2022 FY 2023 FY 2022 FY 2023 122.6 23.3 23.8 Argentina 13.9 19.5 4
Slide 31: Financial highlights (US$ mn)
Financial highlights (US$ mn) Adjusted EBITDA increase mainly due to Dx Brazil and Renewables Adjusted EBITDA Q4 2022 Q4 2023 Δ% YoY FY 2022 FY 2023 Δ% YoY FY 2023 increase mainly due to Dx Brazil on tariff indexation and Reported EBITDA 1,239 849 -31.5% 4,169 3,749 -10.1% Renewables on higher produ
Slide 32: Debt (US$ mn)
Debt (US$ mn) Lower net debt due to Peru deconsolidation Gross and net debt1 Net debt evolution Gross debt breakdown Dec. 23 - 5% +1% 345 16% 6,868 1,107 (1,638) 6,543 Currency (866) 726 BRL 8,046 8,105 US$ 54% COP 1,178 1,562 8.1 bn 30% USD 6,868 6,543 1% Dec. 22 2 Dec. 23 Dec. 22 FCF Dividend Extr
Slide 33: Annexes
Corporate Presentation Annexes
Slide 34: With continuous improvement in our key KPIs
With continuous improvement in our key KPIs Enel X Retail 2021 2022 2023 Delivery points (Th#) +14% Charging stations1 5.8 (Th #) 3.3 7.3 9.8 5.1 4.6 Smart lighting (final light points, mn#) 0.8 0.9 1.1 e-Buses 2021 2022 2023 (Th #) 0.9 2.4 3,4 Energy sold (TWh) PV2 (MWp installed) 30 37 53 +10% 26.
Slide 35: ESG raters and rankings
ESG raters and rankings AAA 4.2 4.4 4.4 93 AA AA AA AA 3.5 3.8 90 81 83 84 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 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 43% BoD’s composition Board of Directors (7 members) 57% Executive Independent Functions: Directors Committee Audit committee Sustainability committe Related parties transactions 35
Slide 37: Board composition
Board composition Board of Directors Board of Directors’ diversity 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 61-70 over 70 José Antonio Vargas Director 14% 14% Directors’ Committee (C)
Slide 38: Thank you.
Corporate Presentation Contact us 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 Claudio Ortiz Nicolás Gracia Francisco Basaur
Slide 39: Disclaimer
Corporate Presentation 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 management
Slide 40: CNC
CNC