Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q2 2021 Earnings Presentation
39 slides from Enel Americas's earnings presentation, Jul 28, 2021
Slide 1: Second Quarter Consolidated results
Second Quarter Consolidated results July 28th, 2021 Américas
Slide 2: Second Quarter 2021 Consolidated results
Second Quarter 2021 Consolidated results Maurizio Bezzeccheri CEO Américas
Slide 3: Key highlights of the period
Key highlights of the period Américas Operational performance Financial results ESG positioning Push on renewables +53% EBITDA in Q2 2021 Start of operations Lagoa Consolidation of EGPA Structure simplification: vs PY, with a relevant dos Ventos (716 MW) as of Q2 2021 Agreement with GEB contribution
Slide 4: Macro-scenario
Macro-scenario Recovery of electricity distributed to pre-pandemic levels Américas Currencies vs USD1 Electricity distributed Collection2 ∆% Q2 ∆% H1 ∆% Q2 ∆% H1 ∆% H1 2021 vs 2020 2021 vs 2020 2021 vs 2020 2021 vs 2020 2021 vs 2020 -36% 99.4% Argentina -36% +1% +0.3 p.p. Argentina 8% Argentina 99.1
Slide 5: Industrial Growth: Gross CAPEX
Industrial Growth: Gross CAPEX Significant increase in Renewables CAPEX dedicated to EGPA’s new capacity Américas Total CAPEX by nature1 Total CAPEX by business2 Total CAPEX by country 3% 2%3% 2% 7% 7% 25% 27% 27% Q2 2021 12% 28% US$ 698 mn US$ 698 mn US$ 698 mn (+132% YoY) 2% (+132% YoY) Thermal (+
Slide 6: Renewable growth: Pipeline and projects in execution
Renewable growth: Pipeline and projects in execution Significant expansion plans for the future Américas Pipeline (GW)1 Projects in execution1-2 GENERATION 3% 9% 44.4 24.6 25% 34% 41% 29% 3.1 GW 3.1 GW 3.1 GW 59% 66% 34% 19.8 Brazil C. America Wind Solar 2021 2022 2023 Colombia Peru Gross Pipeline E
Slide 7: Generation operational highlights
Generation operational highlights Strong growth in net production and energy sales from continued operations and EGPA Américas Installed capacity (GW) Net production & energy sales (TWh) +35% +19% 15.2 +55% 22.9 19.2 2.5 Net production 3.2 Hydro1 11.3 13.2 Coal 6.4 7.1 2.7 2.7 2.5 0.3 0.8 2.1 Oil-ga
Slide 8: Networks operational highlights
Networks operational highlights Improvement in quality indicators across all countries Américas Electricity distributed (TWh) End users (mn) Quality indicators1 SAIDI (hours) Energy losses +13% +6% + 2% H1 2020 H1 2021 H1 2020 H1 2021 Argentina 17.5 14.7 Argentina 15.9% 20.1% 25.4 25.9 Brazil 10.8 1
Slide 9: Enel X and Retail operating highlights
Enel X and Retail operating highlights Strong growth in charging points and energy sold Américas Enel X Retail1 H1 2020 H1 2021 Δ% Street lighting Delivery points (#) Energy sold (TWh) (final light points, mn#) 791 845 +7% + 31% + 40% Microinsurance (active contracts, k#) 1,300 923 -29% 4,163 9.9 3,
Slide 10: ESG highlights
ESG highlights Our commitment is part of our business model Américas 2nd edition - Circular Economy School Credit and equity updates Transparency and governance Showcasing the importance of • Moody’s upgraded Enel Américas’ • Total Tax Contribution Report spreading the culture of rating to “Baa2” fr
Slide 11: Lagoa dos Ventos
Lagoa dos Ventos Largest wind facility currently in operation in South America Américas Details on the project Location State of Piauí, Brazil Investment BRL 3 bn Installed Capacity 716 MW Expected production ~3.3 TWh 510 MW have 20-year power supply contracts with a pool of Enel Green Power’s large
Slide 12: Corporate structure simplification: Enel Colombia
Corporate structure simplification: Enel Colombia Agreement with GEB paves the way for future growth in Colombia & Central America Américas New structure for Colombia & Central America Benefits from new agreement Next steps 1 Shareholders’ Meeting approvals - Distribution of back dividends and a Jul
Slide 13: Second Quarter 2021 Consolidated results
Second Quarter 2021 Consolidated results Aurelio Bustilho CFO Américas
Slide 14: Financial highlights (US$ mn)
Financial highlights (US$ mn) Significant improvement of adjusted EBITDA due to operational results Américas Q2 2020 Q2 2021 Δ% YoY H1 2020 H1 2021 Δ% YoY Quarter highlights Reported EBITDA 623 951 52.7% 1,471 1,692 15.0% EBITDA improvement due to better operational results and strong performance of
Slide 15: EBITDA breakdown: Q2 2021 results
EBITDA breakdown: Q2 2021 results Recovery in all our business lines Américas EBITDA evolution by business line (US$ mn) EBITDA by country (US$ mn) 5% 4% +53% +54% 14% 49 7 10 961 951 171 US$ 951 mn 101 (10) 42% 623 US$ 127mn EBITDA (+53% YoY) from EGPA 35% Q2 2020 Thermal Renewables Networks Retail
Slide 16: Generation business: Q2 2021 results
Generation business: Q2 2021 results EGPA and better results of continued operations led to significant EBITDA growth Américas EBITDA evolution (US$ mn) EBITDA by country (US$ mn) +96% Consolidation of EGPA boosted results (US$ 127 mn) +49% 522 9% 8% 16% 396 Higher energy sales across all 522 30% co
Slide 17: Focus – EGP Américas
Focus – EGP Américas Consolidation as of April 1st, 2021 Américas Main operational KPIs Main financial KPIs Installed capacity (GW) Net production (TWh) EBITDA breakdown Net debt breakdown1 3.9 3.4 0.6 18% 0.7 0.3 1.4 0.5 0.1 0.2 38% 1.8 1.9 US$ 127 mn US$ 639 mn 59% 2.9 0.8 1.0 2.5 82% 3% By countr
Slide 18: Networks business: Q2 2021 results
Networks business : Q2 2021 results Strong EBITDA recovery in Brazil and Colombia Américas EBITDA evolution (US$ mn) EBITDA by country (US$ mn) +19% Volume recovery across all our 456 concession areas 383 12% +44% EBITDA growth in Brazil 456 on better operational (+19% YoY) performance and FX 31% 57
Slide 19: Cash flow (US$ mn)
Cash flow (US$ mn) FFO improvement due to consolidation of EGPA Américas 1,692 US$ 193 mn CAPEX (659) from EGPA 489 (436) (108) (993) (505) EBITDA NWC 1 Taxes paid Net financial FFO 2 CAPEX 3 FCF 4 H1 2021 expenses H1 2020 1,471 (514) (353) (142) 462 (600) (138) Delta YoY +15.0% +28.1% +23.6% -23.8%
Slide 20: Debt (US$ mn)
Debt (US$ mn) Gross debt stable excluding EGPA consolidation Américas Gross and net debt1 Net debt evolution Gross debt breakdown Jun. 21 +20.8% 636 188 5,663 7% 631 BRL + 2.3% (11) 16% Currency COP 505 7,192 US$ 7,192 mn 53% USD (712) 5,955 6,091 1,529 PEN 4,426 1,529 1,067 23% Others4 5,663 4,426
Slide 21: Closing remarks
Closing remarks Américas Operational recovery Strong EBITDA Positioning the Start of a greener across all growth in Q2 2021 company as one of phase of growth with businesses and with a relevant the best ESG players the incorporation of geographies contribution of EGPA in the sector for EGPA into Ene
Slide 22: Annexes
Second Quarter Annexes Américas
Slide 23: Regulation Update Q2 2021
Regulation Update Q2 2021 Américas • ENRE N° 106/2021 – Increase in Edesur’s tariff, translating into a 21.8% VAD increase • SE 440/21 – Updated generation remuneration by +29% (linear adjustment, retroactive to February 2021) • On June 29, 2021 ANEEL’s board of directors approved the new values of
Slide 24: Operating exhibits: Net installed capacity and production
Operating exhibits Net installed capacity and Total net production: Breakdown by source and geography Américas Net installed capacity (MW) Large Hydro MW Wind Solar Oil-Gas CCGT Coal Total Hydro EGPA Argentina 1,328 0 0 0 1,169 1,922 0 4,419 Brazil 1,038 234 1,628 1,072 0 319 0 4,291 Colombia 3,097
Slide 25: Operating exhibits: Distribution companies
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 2,526,437 15,888 14.7 4.9 20.1% Buenos Aires, Argentina 3,309 2023 Enel Dx Rio 3,008,447 11,228 10.0 5.
Slide 26: Financial exhibits
Financial exhibits Américas Q2 2021 Q2 2020 D yoy H1 2021 H1 2020 D yoy Revenues 3,431 2,485 +38% 6,658 5,701 +17% Gross Margin 1,361 983 +38% 2,512 2,280 +10% OPEX -410 -361 +14% -820 -808 +1% Reported EBITDA 951 623 +53% 1,692 1,471 +15% D&A1 -300 -265 +13% -572 -569 +0% EBIT 651 358 +82% 1,121 90
Slide 27: EBITDA and Net Income breakdown
Financial exhibits EBITDA and Net Income breakdown Américas EBITDA by country Net Income by country Q2 2021 H1 2021 Q2 2021 H1 2021 4% 4% 3% 4% 5% 6% 13% 17% 14% 16% 35% 38% 38% 951 1,471 256 544 48% (+53% yoy) (+15% yoy) (+54% yoy) (+14% yoy) 31% 39% 43% 42% Brazil Colombia Peru Argentina C. Americ
Slide 28: Argentina (US$ mn)
Argentina (US$ mn) Américas Generation 1 Networks 1 Total 2 Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Revenues 40 63 58% 183 191 4% 223 254 14% OPEX -17 -16 -9% -48 -57 19% -65 -73 12% Dock Sud EBITDA 21 42 99% 15 -1 -108% 36 41 13% 846 MW* Net Income -4 -29 655% -53 -127 141% -44 -152 2
Slide 29: Brazil (US$ mn)
Brazil (US$ mn) Américas Generation 1 Networks 1 Total 2 Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Revenues 99 324 226% 1,398 1,909 36% 1,435 2,158 50% Fortaleza 319 MW* OPEX -6 -24 298% -188 -188 0% -214 -230 8% EBITDA 30 156 424% 180 259 44% 191 401 110% Enel Dx Ceará Net Income 17 103
Slide 30: Colombia (US$ mn)
Colombia (US$ mn) Américas Generation 1 Networks 1 Total 2 Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Revenues 277 307 11% 357 421 18% 550 623 13% OPEX -14 -18 25% -31 -35 13% -46 -53 16% Enel Codensa EBITDA 160 193 21% 128 142 12% 288 336 17% Emgesa Clients: 3.6 m 409 MW* Net Income 92 1
Slide 31: Peru (US$ mn)
Peru (US$ mn) Américas Generation 1 Networks 1 Total 2 Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Q2 2020 Q2 2021 % Revenues 105 142 35% 205 224 9% 277 328 18% Enel Gx Piura OPEX -16 -19 22% -14 -17 22% -30 -35 15% 336 MW* EBITDA 55 81 48% 61 56 -7% 114 135 18% Net Income 30 40 33% 24 23 -3% 51 60 17% Gros
Slide 32: Central America (US$ mn)
Central America (US$ mn) Américas Central America Q2 2020 Q2 2021 % Revenues - 67 - OPEX - -8 - EBITDA - 50 - Net Income - 27 - Gross Capex - 12 - Net Production - 708 - (GWh) Energy Sales - 872 - (GWh) Av. Spot Price - - - Hydro plant ($US/MWh) Solar plant Energy losses - - - (%) Customers (Th) - -
Slide 33: Liquidity and credit profile
Financial exhibits Liquidity and credit profile Américas Liquidity (US$ m) Total Used Available Committed credit lines 1,361 120 1,242 Cash and cash equivalents 1 1,529 0 1,529 Total liquidity 2,890 120 2,771 Credit Profile S&P Fitch Moody's as of June 2021 LT international debt BBB- A- Baa2 LT loca
Slide 34: Corporate governance structure
Corporate governance structure Américas Shareholders’ meeting Audit firm 43% BoD’s composition Board of Directors (7 members) 57% Executive Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 34
Slide 35: Board composition
Board composition Américas Board of Directors Board of Directors’ diversity1 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 José Antonio Vargas Director 61-70 over 70 14% 14% Directors’ Comm
Slide 36: CEO's short-term variable remuneration
CEO’s short-term variable remuneration Américas Type of Target Objective Weight Range Profit Net Income 25% Maximum 120% Economic Latin America FFO Financial 15% Maximum 120% Latin America Business Customer's operations 20% Maximum 120% Claims Business 20% Maximum 120% (Commercial operations) Safety
Slide 37: Disclaimer
Q2 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 38: Thank you.
Q2 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 39: Américas
Américas Américas Américas