Enel Américas 9M 2019 October 28 th , 2019
Key highlights of the period The largest capital increase ever in Chile already completed 1 EBITDA of US$ 2,972 mn, an increase of 25% vs same period 2018 Net of Fx impact EBITDA would have increased by 41% mainly driven by Enel Dx Sao Paulo Additional efficiencies for US$ 35 mn compared to last year Group net income reached US$ 822 mn, an increase of 60% vs 9M 2018 due to better operational results Enel Américas is the only South American utility group included in three categories of the Dow Jones Sustainability Index 2 , thus creating value for all its stakeholders 2 1. In cash. 2. Dow Jones Sustainability Chile Index, Dow Jones Sustainability MILA Index and Dow Jones Sustainability Emerging Markets Index.
Industrial growth: Gross Capex 1 (US$ mn) Distribution business captures around 90% of the total capex Total capex by business 5 Total capex by nature Total capex by country 11% 11% 16% 31% 38% 1,078 1,078 22% 1,078 (+0.8% yoy) (+0.8% yoy) (+0.8% yoy) 51% 31% 89% 2 Asset management Generation Argentina Brazil Colombia Peru 3 Asset development Distribution 4 Customers 1. Accrued capex during 9M 2019, gross of contributions and connections fees. 2. Capex related to investments for recurring asset maintenance. 3. Growth investments in generation and networks (quality programs & smart metering) 4. Capex related to customers (Retail, Enel X (e-Home, e-Industries), Network connections). 5. Distribution business includes Enel X. Both, Generation and Distribution businesses, include Free 3 market business
Gx operating highlights Ensuring profitability in the Generation business through PPAs 1 Net production (TWh) Energy sales (TWh) + 12% + 3% 31.4 30.5 54.4 48.6 10.7 9.9 2.2 1.0 0.4 0.1 Hydro CCGTs 18.3 19.3 Oil-gas Coal El Guavio reservoir 9M 2018 9M 2019 9M 2018 9M 2019 87% of 2019-21 total production already sold forward Total installed capacity at the end of the period is equal to 11,262 MW. Renewable energy represents almost 60% of the total. 4 1. Power Purchase Agreement.
Dx operating highlights Consolidation of Enel Dx São Paulo is driving a better performance in Distribution business Distributed Energy (TWh) 1 End users (mn) + 26 % + 0.4 % 89.6 24.6 24.5 71.0 Enel Dx 32.3 Enel Dx São Paulo 13.9 São Paulo 2 57.1 57.3 9M 2018 9M 2019 Sep. 2018 Sep. 2019 All tariff review processes of our distribution companies already completed until 2022 3 1. Non-billable consumptions are not included. 2. Date of consolidation of Enel Dx São Paulo (Eletropaulo): Beginning of June, 2018. 5 3. See more details in page number 30 of exhibits.
Enel X and Retail operating highlights Enel X: Significant increase in charging stations. Retail: Improving delivery points Retail 1 Enel X Energy Gas Delivery points Delivery points + 16% + 10% PV (MW ρ installed in the year) Smart lighting (final light points, mn#) 2,713 22 Sep. 2018 0.4 2,330 9M 2018 3.9 20 Sep. 2019 0.4 9.6 9M 2019 Sep. 2018 Sep. 2019 Sep. 2018 Sep. 2019 Gas sold (TWh) Energy sold (TWh) - 6% + 49% Third Party Billing Charging stations (#) Microinsurance & Collection services (active contracts, k#) (transactions in the year k#) 13.2 0.841 0.565 Sep. 2018 10 9M 2018 3,580 9M 2018 1,337 12.3 9M 2019 8,855 9M 2019 1,274 Sep. 2019 185 9M 2018 9M 2019 9M 2018 9M 2019 Increase in delivery points in Energy and Gas Accelerated infrastructure deployment 6 1. Retail includes free market business.
Efficiencies Commitments in Opex reduction moving faster than as announced in the Strategic Plan 2019-21 Opex evolution (US$ mn) +14% -3% 1,352 224 (35) 1,307 (10) 1,128 1 9M 2018 Perimeter & Other 9M 2018 pro forma Efficiencies CPI & Fx 9M 2019 Efficiencies mainly driven by lower Opex in Enel Dx Sao Paulo 7 1. Jan-May 2018 proforma of Enel Dx São Paulo.
Solid progresses on SDGs Engaging local communities I&N, sustainable cities and cyber securities (mn of beneficiaries) 9M 2019 2015-19 1 High-quality, inclusive and fair education 0.4 Smart meters (k) 115 Charging points 2 185 Access to affordable and clean energy 2 3.7 Smart lighting points (k) 401 Web app with cyber security solutions 100% Employment and sustainable and 0.4 inclusive economic growth Climate change 9M 2019 Emission free production as % of total 56% generation in MWh 1. Cumulated data and targets from 2015. Million of beneficiaries. 8 2. Public and private charging stations.
Financial highlights (US$ mn) Solid performance in the firsts nine months of the year ∆ YoY 9M 2019 9M 2018 Reported EBITDA 2,972 2,374 + 25% Adjusted EBITDA 1 2,758 2,374 + 16% Total net income 1,221 859 + 42% Reported Group net income 2 822 513 + 60% FFO 861 1,092 - 21% 6,649 3 Net debt 4,494 - 32% 1. Excludes one off in 9M 2019 (Past liabilities resolution). 2. Attributable net income to the controller shareholders. 9 As of December 31 st 2018. 3.
EBITDA by business line (US$ mn) Solid operating performance across all businesses ∆ Net of Fx ∆ YoY Net of Fx, Large hydro business’ operating EBITDA increased mainly + 0% + 11% 26% due to better results in Argentina and Colombia Distribution business’ EBITDA increased mainly due to the 2,972 consolidation of Enel Dx São Paulo, past liabilities resolution in + 34 % + 51% Argentina and better operational results in Peru 13% (+25% yoy) 53% 1% +107% +128% 7% Great performance in Retail business in all countries Thermal generation business’ EBITDA increased thanks to Argentina 1 + 29 % + 46% Thermal generation Renewables and Brazil results Distribution Retail Enel X 87% zero direct emissions in our activities Brazil and Colombia represent more than 70% of the total EBITDA 1. Thermal generation business’ includes trading business. 10
Focus on Argentina (US$ m) Gx in line with previous year and Dx growth driven by the past liabilities resolution Generation 1 Distribution 1 Total 2 9M 2019 9M 2018 % 9M 2019 9M 2018 % 9M 2019 9M 2018 % 284 166 71% 1,028 744 38% 1,311 909 44% Revenues 161 112 44% 271 124 118% 431 235 83% EBITDA Dock Sud 846 MW* 128 68 87% 168 77 117% 313 154 104% Net Income Costanera 30 29 3% 138 75 85% 168 104 62% 2,210 MW* Gross Capex Buenos Aires Net Production Edesur 9,972 10,656 -6% - - - 9,972 10,656 -6% El Chocón (GWh) Clients: 2.5 m 1,363 MW* Energy Sales 9,974 10,656 -6% 12,751 13,615 -6% - - - (GWh) Hydro plant Av. Spot Price Thermal plant N.A. N.A. - - N.A. N.A. - - - ($US/MWh) Networks end users *Net installed capacity - - - 2,488 2,548 -2% 2,488 2,548 -2% End Users (Th) 11 1. Distribution business includes Enel X. Generation business includes trading business. Both, generation and distribution businesses, include Retail business. “Total” included Holding and Services adjustments. 2.
Focus on Brazil (US$ mn) Significant improvement in both businesses also net of perimeter and Fx effect Generation 1 Distribution 1 Total 2 9M 2018 % 9M 2018 % 9M 2018 % 9M 2019 9M 2019 9M 2019 573 673 -15% 6,016 4,846 24% 6,346 5,302 20% Revenues Fortaleza 319 MW* 250 186 35% 986 663 49% 1,193 808 48% EBITDA 170 120 41% 269 129 108% 243 110 121% Net Income Enel Dx Ceará Clients: 3.9 m Cachoeira 9 7 36% 540 582 -7% 549 590 -7% Gross Capex Brasilia Enel Dx Goiás Dourada Clients: 3.1 mn 655 MW* Net Production Enel Dx Rio 3,442 2,796 23% - - - 3,442 2,796 23% Clients: 2.9 m (GWh) Rio de Janeiro Cien 2,100 MW Energy Sales Volta 22,064 15,927 39% 60,012 40,962 47% - - - Grande (GWh) 380 MW* Av. Spot Price Enel Dx São 55 89 -38% - - - 55 89 -38% Hydro plant ($US/MWh) 3 Paulo Thermal plant Clients: 7.3 m Transmission line - - - 17,151 17,107 0% 17,151 17,107 0% End Users (Th) Networks end users *Net installed capacity 1. Distribution business includes Enel X. Generation business includes trading business. Both, generation and distribution businesses, include Retail business. “Total” including Holding and Services adjustments. 2. 12 3. Southeast /Central-west region.
Focus on Colombia (US$ mn) Net of Fx, growth in Gx due to a good commercial strategy and in Dx driven by a higher demand and tariff Generation 1 Distribution 1 Total 2 9M 2018 % 9M 2018 % 9M 2018 % 9M 2019 9M 2019 9M 2019 946 953 -1% 1,229 1,284 -4% 1,896 2,016 -6% Revenues 555 562 -1% 403 388 4% 959 951 1% EBITDA Codensa Emgesa Clients: 3.5 m 409 MW* 296 274 8% 177 156 13% 473 430 10% Net Income Bogota 52 51 1% 190 197 -4% 243 249 -2% Gross Capex Emgesa Net Production 3,097 MW* 11,810 10,956 8% - - - 11,810 10,956 8% (GWh) Energy Sales 14,006 14,061 0% 10,672 10,443 2% - - - (GWh) Hydro plant Thermal plant Av. Spot Price 65 37 72% - - - 65 37 72% ($US/MWh) Networks end users *Net installed capacity - - - 3,502 3,415 3% 3,502 3,415 3% End Users (Th) 1. Distribution business includes Enel X. Generation business includes trading business. Both, generation and distribution businesses, include Retail business. 13 “Total” included Holding and Services adjustments. 2.
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