Q2 2024 Enel Chile SA Earnings Call Transcript
Key Points
- Enel Chile SA (ENIC) reported solid EBITDA and net income results for the first half of 2024, reflecting strong operational performance.
- The company added approximately 250 megawatts of new renewable energy capacity, supporting its long-term decarbonization goals.
- Enel Chile SA (ENIC) secured a 20-year regulated PPA, representing sales of around 3.6 terawatt hours, diversifying its sales portfolio.
- The hydro portfolio performed outstandingly, with hydro production exceeding guidance by 72% compared to the second quarter of 2023.
- The company has a solid level of liquidity to support future CapEx deployment, with available committed credit lines of $750 million and cash equivalents of $305 million.
- Enel Chile SA (ENIC) faces regulatory uncertainties, particularly regarding the stabilization mechanism and the potential increase in subsidies for vulnerable families.
- The company has significant accounts receivable related to the stabilization mechanism, totaling approximately $1 billion, which impacts liquidity.
- Higher depreciation, amortization, and bad debt expenses were reported, mainly due to new renewable capacity and higher credit losses among residential customers.
- The company experienced critical weather events that affected the stability of electricity supply, impacting quality indicators and increasing operational costs.
- Enel Chile SA (ENIC) reported a decrease in total CapEx by 9% compared to the previous year, which may impact future growth and project completion timelines.
Good morning, ladies and gentlemen, and welcome to Enel Chile's First Half and Second Quarter 2024 Results Conference Call. My name is Carmen, and I'll be your operator for today. (Operator Instructions) please be advised that today's conference is being recorded.
During this conference call, we may make statements that constitute forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such forward-looking statements reflect only our current expectations are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements as a result of various factors. These factors are described in Enel Chile's press release reporting its first half and second quarter 2024 results presentation accompanying this conference call and in our Chile's annual report on Form 20 F, including under Risk Factors. You may access our first half and second quarter 2024 results press release and presentation on our website, w. w. w. dot NL. dot c. a. and our 20 F on the SEC.'s website, w
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
