First Quarter
Enel Américas
Consolidated results
May 5th, 2025
Q1 2025
Key highlights and operational performance
Aurelio BustilhoCEO
Key highlights
CAPEX
Operational results
Financial results
Financial position
USD 0.30 bnAdj.GridsCAPEX+11%
Net of Fx Grids CAPEX increase mainly in Argentina & Brazil in digitalization & resilience
+23% vs PY
Renewablegeneration
Relevant increase in solar & wind due to new capacity in Brazil & Colombia; recovery in Colombia led by hydro generation
USD 1.13 bn
Adj.EBITDA+5%
Net of Fx EBITDA improvement explained by Argentina and Generation Colombia
USD 0.33 bn
Fin.expenses-21%
Improvement explained by lower gross debt stock vs Q1 2024 and lower interest rate in Colombia
3
Regulatory scenario
Key recent and expected developments for our main markets
Dx concession renewal - Expected timetable
Publication of base
concession contract
ANEEL's recommendation
to the MME
Signing of concession contract
Tariff review - Dx and Cx
Cx - Process ongoing
Dx - Part of the 2025 Regulatory Agenda, technical
1
February 26
March 28
2 + 60 days
3 + 30 days
4 + 90 days 5
document expected for Q3 2025
Generation
Under discussion - Law project that caps at 5% the energy sales on the Energy Exchange that come from hydroelectric generation
Manifestation for Early Renewal
MME's decision
Edesur's tariff review process - 2025-2029 period
January 27 - ENRE presented its final report and EDESUR
submitted to the regulator its tariff proposal
February 27 - Public hearing
April 30 - Publication of tariff tables
May - Updated tariffs come into effect
4
Gross CAPEX
Grids CAPEX breakdown2
Focus on Grids aligned with Strategic Plan goals
CAPEX by country and business1
0%
12%
30%
USD 406 mn
(-27% YoY)
59%
1%
25%
USD 406 mn
(-27% YoY)
Net of Fx
Grids CAPEX3
+11% YoY
74%
29%
41%
USD 300 mn
(-2%YoY)
Networks upgrade
+42% YoY
31%
Argentina
Rounded figures. (1) Renewables business' includes trading business; (2) Networks upgrade include CAPEX in resilience, digitalization & climate change, among others; Ordinary includes asset maintenance 5
CAPEX; (3) Including Fx effect, Grids CAPEX variation is -2%