Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q1 2021 Earnings Presentation
32 slides from Enel Americas's earnings presentation, May 3, 2021
Slide 1: First Quarter Consolidated results
First Quarter Consolidated results May 3rd, 2021 Américas
Slide 2: Key highlights of the period
Key highlights of the period Américas Volume recovery in our FFO improvement due Renewed push for Merger and PTO1 Dx business in Brazil to lower net financial diversity at Board level completed on April; despite full COVID expenses and NWC impact on the quarter Feller Rate upgrades Adding 3.7 GW of
Slide 3: Macro-scenario
Macro-scenario Operational figures broadly in line with last year, FX headwinds persist Américas Currencies vs USD1 (ΔYoY) Electricity distributed (TWh) Collection (%) ∆ yoy ∆ yoy 4.0 100.2 Argentina -43% Argentina -6% Argentina -4.9 pp 4.3 105.1 20.5 +1% 97.8 -0.7 pp Brazil -23% Brazil Brazil 20.3
Slide 4: Industrial Growth: Gross CAPEX
Industrial Growth: Gross CAPEX Net of Fx, CAPEX increased 15% vs PY Américas Total CAPEX by nature Total CAPEX by business(1) Total CAPEX by country 2% 5% 6% 9% 11% 20% 3% US$ 291 mn US$ 291 mn 26% US$ 291 mn 47% (-2.7% YoY) (-2.7% YoY) (-2.7% YoY) 33% 54% 84% Asset Asset Networks Customers Thermal
Slide 5: Generation operational highlights
Generation operational highlights Lower production and energy sales Américas Installed capacity (GW) Net production & energy sales (TWh) - - 9% 11.3 11.3 Q1 2020 Q1 2021 10.6 Net production 2.7 2.7 9.7 Δ% 1Q 3.9 Energy sales 14.8 14.2 -4% 3.6 2.1 2.1 0.2 0.2 0.2 0.3 0.3 56% 51% Hydro 0.1 Regulated C
Slide 6: Networks operational highlights
Networks operational highlights Electricity distributed in line with PY Américas Electricity distributed (TWh) End users (mn) Quality indicators - + 1% 25.4 25.7 30.1 30.1 SAIDI (hours) SAIFI (times) Energy losses Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Argentina 19.5 13.8 5.6 4.6 15.8% 19.3
Slide 7: Enel X and Retail operating highlights
Enel X and Retail operating highlights Strong growth in charging points and energy sold Américas Enel X Retail1 Q1 2020 Q1 2021 Street lighting +6% Delivery points (#) Energy sold (TWh) (final light points, mn#) 790 842 + 28% + 26% -29% Microinsurance (active contracts, k#) 1,316 935 3,963 5.0 0% 3,
Slide 8: ESG highlights
ESG highlights Our commitment is part of our business model Américas Engaging local communities (mn beneficiaries) Credit rating Board diversity Cumulative Mar 2021(1) Rating upgrade to “AA” from “A” Incorporation of two women to with Stable outlook our Board of Directors High-quality, inclusive & f
Slide 9: Financial highlights (US$ mn)
Financial highlights (US$ mn) Adjusted EBITDA broadly in line with PY despite a challenging scenario in the region Américas Q1 2020 Q1 2021 Δ% YoY Quarter highlights Reported EBITDA 848 741 -12.7% Lower EBITDA mainly due to BRL and PEN devaluation vs USD and lower Gx result in Adjusted EBITDA1 848 8
Slide 10: EBITDA breakdown (US$ mn)
EBITDA breakdown (US$ mn) Stable performance in Networks, Retail & Enel X offset by Gx business and FX Américas EBITDA evolution by business line EBITDA by country 3% - 13% - 3% 18% 848 9 8 824 (3) (38) (1) 741 US$ 741 mn 36% (82) (-13% YoY) 43% Q1 2020 Thermal Large Networks Retail Enel X Q1 2021 F
Slide 11: Generation business
Generation business Lower production and sales affected results Américas EBITDA evolution (US$ mn) EBITDA by country (US$ mn) - 16% Lower result in Argentina due to 396 price effect and lower volumes 7% 332 23% 16% Lower result in Brazil due to 332 lower hydro production and (-16% YoY) higher opex 5
Slide 12: Networks business
Networks business EBITDA in line YoY net of Fx Américas EBITDA evolution (US$ mn) EBITDA by country (US$ mn) - 8% 1% 471 Net of Fx, Brazil, Colombia and 432 Peru improved results vs PY 14% Around US$ 60 mn of negative 432 Fx impact, mostly concentrated (-8% YoY) 53% in Brazil 32% Volume recovery in
Slide 13: Cash flow (US$ mn)
Cash flow (US$ mn) FFO improvement due to positive impact in net financial expenses and NWC Américas 741 (362) 186 (185) (7) (291) (105) EBITDA NWC 1 Taxes paid Net financial FFO 2 CAPEX 3 FCF 4 Q1 2021 expenses Q1 2020 848 (498) (122) (101) 127 (183) (56) Delta YoY -12.7% -27.2% 51.4% -92.7% 46.6%
Slide 14: Debt (US$ mn)
Debt (US$ mn) Lower gross debt vs PY Américas Gross and net debt1 Net debt evolution Gross debt breakdown 124 Mar. 21 - 105 (16) 4,516 4,426 11% - 4.3% (123) BRL Currency COP 22% 42% 5,955 5,701 US$ 5,701 mn USD 1,529 PEN 1,185 Others4 25% 4,426 4,516 1% Dec. 20 FCF Net dividend Financial Extraordin
Slide 15: Completion of EGP Américas’ merger
Completion of EGP Américas’ merger The start of a new growth phase starting on Q2 2021 Américas Installed Capacity Evolution (GW) Adding 3.7 GW of installed capacity and 3 new countries to Pre-transaction Post-transaction(1) our perimeter Clear path to organic growth in renewable power generation 33
Slide 16: Enel Américas Proforma Q1 2021
Completion of EGP Américas’ merger Enel Américas Proforma Q1 2021 Américas Operational figures (TWh) EBITDA & CAPEX (US$ bn) 3% 1% 4%2% 18.1 95 836 741 12.3 3.9 2.6 CAPEX 14.2 US$ 478 mn 40% 50% 9.7 Net Production Energy sales EBITDA EBITDA Enel Américas Enel Américas EGP Américas + EGP Américas Net
Slide 17: Closing remarks
Closing remarks Américas Management Demand recovery Solid debt metrics Start of a greener actively working on continues in Brazil and cash cash flow phase of growth for mitigating the generation to ensure Enel Américas impacts of a still business continuity challenging environment 17
Slide 18: Annexes
First Quarter Annexes Américas
Slide 19: Regulation Update Q1 2021
Regulation Update Q1 2021 Américas Argentina • On January 19, 2021, the ENRE issued the Resolution No. 16, which initiates the procedure for the transitory adjustment of tariffs with the purpose of establishing a Transitional Tariff Regime, until a Definitive Renegotiation Agreement is reached. Addi
Slide 20: Operating exhibits
Operating exhibits Net installed capacity and Total net production: Breakdown by source and geography Américas Net installed capacity (MW) MW Hydro Oil-Gas CCGT Coal Total Argentina 1,328 1,169 1,922 0 4,419 Brazil 1,035 0 319 0 1,354 Colombia 3,097 180 0 226 3,503 Peru 792 731 457 0 1,981 Total 6,2
Slide 21: Operating exhibits
Operating exhibits Distribution companies Américas Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,514,638 15,888 13.8 4.6 19.3% Buenos Aires, Argentina 3,309 2022 Enel Dx Rio 2,995,745 11,228 10.0 5.
Slide 22: Relevant figures
Relevant figures Américas Av. Spot Price FX vs USD ($US/MWh) Q1 2020 Q1 2021 Q1 2020 Q1 2021 Argentina N/A N/A 64.4 91.9 Brazil 48 32 4.5 5.5 Colombia 57 101 3,541 3,557 Peru 6.5 8.3 3.4 3.7 22
Slide 23: Financial exhibits
Financial exhibits Américas Q1 2021 Q1 2020 D yoy Revenues 3,227 3,216 +0% Gross Margin 1,152 1,296 -11% OPEX (410) (448) -8% Reported EBITDA 741 848 -13% D&A1 (271) (303) -11% EBIT 470 545 -14% Net financial results (81) (114) -29% Non operating results 0 1 -75% EBT 390 432 -10% Income taxes (101)
Slide 24: Financial exhibits
Financial exhibits EBITDA and Net Income breakdown Américas EBITDA by country Net Income by country Q1 2021 Q1 2021 3% 18% 24% 43% 741 288 (-13% yoy) 11% (-7% yoy) 65% 36% Brazil Colombia Peru Argentina 24
Slide 25: Argentina (US$ mn)
Argentina (US$ mn) Américas Generation 1 Networks 1 Total 2 Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Revenues 84 43 -49% 226 157 -31% 311 199 -36% OPEX -14 -17 24% -62 -48 -24% -76 -65 -15% Dock Sud EBITDA 56 22 -61% 7 3 -60% 63 24 -62% 846 MW* Net Income 11 3 -74% -2 -6 245% 12 -4 -136
Slide 26: Brazil (US$ mn)
Brazil (US$ mn) Américas Generation 1 Networks 1 Total 2 Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Revenues 191 406 112% 1,834 1,747 -5% 1,958 2,090 7% Fortaleza 319 MW* OPEX -7 -7 -5% -255 -235 -8% -274 -257 -6% EBITDA 78 53 -32% 280 231 -18% 347 270 -22% Enel Dx Ceará Net Income 59 19
Slide 27: Colombia (US$ mn)
Colombia (US$ mn) Américas Generation 1 Networks 1 Total 2 Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Revenues 302 290 -4% 400 413 3% 618 611 -1% OPEX -16 -16 0% -38 -34 -11% -54 -50 -8% Enel Codensa EBITDA 184 180 -2% 129 137 7% 313 318 2% Emgesa Clients: 3.6 m 409 MW* Net Income 102 110
Slide 28: Peru (US$ mn)
Peru (US$ mn) Américas Generation 1 Networks 1 Total 2 Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Q1 2020 Q1 2021 % Revenues 133 128 -4% 237 233 -1% 330 327 -1% Enel Gx Piura OPEX -17 -16 -9% -21 -17 -16% -38 -33 -13% 336 MW* EBITDA 79 77 -2% 55 61 10% 132 135 3% Net Income 58 44 -24% 21 23 8% 55 47 -16% G
Slide 29: Financial exhibits
Financial exhibits Liquidity and credit profile Américas Liquidity (US$ m) Total Used Available Committed credit lines 1,548 526 1,022 Cash and cash equivalents 1 1,185 0 1,185 Total liquidity 2,733 526 2,207 Credit Profile S&P Fitch Moody's as of March 2021 LT international debt BBB A- Baa3 LT loca
Slide 30: Disclaimer
Q1 2021 Consolidated results Disclaimer Américas 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 presentation and include statement
Slide 31: Thank you.
Q1 2021 Consolidated results Contact us Américas 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 Javiera Rubio Nicolás Gracia F
Slide 32: Américas
Américas Américas Américas