First Quarter
Enel Américas
Consolidated results May 2nd, 2024
Q1 2024
Key highlights and operational performance
Aurelio Bustilho
CEO
Key highlights
Announced | Financial | Cost of debt | |
Grids | Profitability | ||
results | evolution | ||
investments | |||
BRL11.0bn | USD1.1bn | 11.0% | USD0.4bn |
CAPEXplansforEnelSao | EBITDA+14%vsPY | -120basispoints | G.Netincome+17%vsPY |
PauloandCeará2024-26 | |||
Robust CAPEX plans with a focus | Q1'24 EBITDA increase mainly | Lower cost of debt explained by to | Group net income growth |
on preventive maintenance and | driven by Argentina, Colombia | lower rates in Brazil and Colombia, | driven by higher EBITDA and |
grid modernization | and Fx effect | and lower debt in Brazil | discontinued operations |
This presentation excludes the operational and financial figures of Peruvian assets (Enel Gx Peru, Enel Dx Peru), as they are classified as assets held for sale, only including its contribution to group net income | 3 |
as "Discontinued operations". | |
Brazil - Dx CAPEX plans
Announced commitments on our Brazilian concessions
Enel Sao Paulo - 2024-26 CAPEX plan
BRL 6.2 bn CAPEX plan for the 2024-26 period
~BRL 2.0 bn per year, +43% vs 4-year average
+1,200 on-field employees to ensure improved and faster quality response to customer requests
Main initiatives of the plan:
- Stronger focus on preventive maintenance
- Increase in the number of preventive prunings
- Modernization of the electricity network
- Expansion of communication channels and customer service
Enel Ceará - 2024-26 CAPEX plan
BRL 4.8 bn | 2024-26 period |
CAPEX plan for the |
~BRL 1.6 bn per year, +44% vs 6-year average
+1,750 on-field employees to ensure improved and faster quality response to customer requests
Main initiatives of the plan:
- Stronger focus on preventive maintenance
- Increase in the number of preventive prunings
- Modernization of the electricity network
- Expansion of communication channels and customer service
BRL 18 bn - Brazil's total 2024-26 CAPEX plan, ~ 80% allocated to Grids
4
Gross CAPEX
Completing renewable projects in core countries, continued focus on Grids
CAPEX by country
16% 6%
USD 556 mn
(-4% YoY)
78%
Argentina
Brazil
Colombia
C. America
CAPEX by business1
2%
42% | USD 556 mn | |
(-4% YoY) | 56% | |
Grids
Generation
Customers
Asset development2 CAPEX by business
1%
22%
USD 282 mn
(+4% YoY)
77%
Grids
Generation
Customers
(1) Renewables business' includes trading business; (2) Asset development - Growth investments in generation and Grids (quality programs smart metering) | 5 |
Generation operational highlights
97% emission-free production, strong growth in energy sales in Brazil
Net installed capacity (GW) | ||
2% | ||
20% | 98% renewables | |
12.2 | Hydro | |
51% | Wind | |
GW | Solar | |
Coal | ||
27% | ||
Net production1 (TWh)
-3% | |||
0.1 | 9.0 | 0.3 | 8.7 |
0.6 | 0.7 | ||
2.22.0
6.15.8
99% 97%
Q1 2023 | Q1 2024 | |||
Hydro | Coal | |||
Wind | Emission-free | |||
Solar | production | |||
Energy sales1-2 (TWh)
+26%
18.6
14.8 34%
20%
44% 36%
36% 30%
Q1 2023 | Q1 2024 |
Spot
Unregulated
Regulated
(1) Excludes 1.7 TWh in Q1 2023, related to production and sales from Costanera and Docksud (assets sold in Q1 2023); (2) Excludes intercompany sales | 6 |
Renewables development
~0.2 GW added capacity in Brazil and Colombia
Q1 CAPEX breakdown1 | Projects in execution |
8%
USD | Brazil | 41% | 1.1 | ||
0.2 bn | Colombia | GW | 59% | ||
92% |
Capacity built in Q1 2024:
135 MW - Arinos
63 MW - Guayepo II
Country & tech | Project | Net | End of |
capacity | construction | ||
Arinos | 461 MW | 2024 | |
Pedra Pintada | 194 MW | 2024 | |
Guayepo II | 190 MW | 2024 | |
Guayepo III | 267 MW | 2025 | |
(1) Only includes asset development CAPEX for renewables | 7 |
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 |
+4%
26.1 27.3
+420k
21.9 22.3
SAIDI (hours) | ||
Q1 2023 | Q1 2024 | |
Argentina | 19.1 | 15.9 |
Brazil | 7.6 | 8.1 |
Colombia | 5.4 | 6.0 |
Average | 8.6 | 8.7 |
SAIFI (times) | |
Q1 2023 | Q1 2024 |
6.6 | 7.5 |
3.7 | 3.8 |
4.1 | 4.8 |
4.1 | 4.4 |
Energy losses
Q1 2023 | Q1 2024 |
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 | ||||
Argentina | 17.8% | 16.1% | |||||
Smart meters | |||||||
355 | 824 | ~2.3x | Brazil | 13.3% | 13.1% | ||
(th) | |||||||
Net RAB | 10.4 | 12.0 | +15% | Colombia | 7.5% | 7.5% | |
(USD bn) | Average | 13.3% | 12.8% | ||||
Net RAB / Grid | 477 | 539 | +13% | ||||
customer (USD) |
(1) SAIFI: System Average Interruption Frequency Index; SAIDI: System Average Interruption Duration Index; (2) Quality indicators criteria for Colombia was modified to consider climate event-related cuts | 8 |
Q1 2024
Economic and financial performance
Rafael de la Haza
CFO
Financial highlights (USD mn)
EBITDA increase mainly due to Argentina, Colombia and Fx effect
Q1 2023 | Q1 2024 | Δ% YoY | |
Reported EBITDA | 945 | 1,077 | 14.0% |
1 | 910 | 1,010 | 11.0% |
Adjusted EBITDA | |||
Net financial results | (184) | (181) | -1.8% |
2 | 307 | 359 | 16.8% |
Reported Group net income | |||
Net debt (Dec-23 vs Mar-24) | 6,543 | 6,729 | 2.9% |
Reported EBITDA
Q1 2024 increase mainly due to tariff adjustment in Argentina and Colombia, and Fx effect due to BRL and COP appreciation
Net financial results
Higher hyperinflation effect in Argentina, partially compensated by lower financial income in Brazil due to lower cash position
Reported Group net income
Explained mainly by higher EBITDA and better result from discontinued operations (Peru)
Final dividend of USD 142 mn approved (Total dividend of USD 259 mn)
(1) Excludes disposals (USD 35 mn) and Fx effect (USD 68 mn); (2) Attributable net income to controlling shareholders | 10 |
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Enel Americas SA published this content on 02 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 15:49:03 UTC.