Q3 2024 Enel Americas SA Earnings Call Transcript
Key Points
- Enel Americas SA (XSGO:ENELAM) increased investments in the Grids business by 30%, reaching USD 0.4 billion, aligning with their strategy to enhance network resilience and service quality.
- The company added 800 megawatts of new renewable capacity in 2024, primarily in Brazil, demonstrating a commitment to expanding renewable energy sources.
- Gross debt was reduced by 30% to USD 5.7 billion, largely due to proceeds from the sale of Peruvian assets, which also decreased financial expenses by 33%.
- Despite challenges, Enel Americas SA (XSGO:ENELAM) maintained a solid financial position, allowing them to execute their CapEx plan effectively.
- EBITDA for the first nine months of the year increased by 6% compared to the same period last year, driven by better results in the Grids business in Argentina and Colombia, and the Generation business in Brazil.
- EBITDA in the third quarter decreased by 6% compared to the same period last year, primarily due to the depreciation of the Brazilian real and lower EBITDA in the Generation business in Colombia.
- The hydrological situation in Colombia negatively impacted the Generation business, leading to increased energy purchase costs at higher spot prices.
- Currency depreciation in Brazil had a negative impact of USD 91 million on the company's financial results.
- The company faced severe weather events in São Paulo, which disrupted electricity supply to millions of customers and required significant operational responses.
- CapEx decreased by 37% compared to the same period last year, mainly due to the completion of renewable projects and a slowdown in developing new projects.
Good day, ladies and gentlemen, and welcome to Enel Américas Third Quarter 2024 Results Conference Call. My name is Gigi, and I'll be your operator for today. [Operator Instructions] Please be advised that today's conference is being recorded.
This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its management with respect to, among other things, Enel Américas' business plans, Enel Américas' cost reduction plans, trends affecting Enel Américas' financial condition or results of operations, including market trends in the electricity sector in Chile or elsewhere; supervision and regulation of the electricity sector in Chile or elsewhere; and the future effect of any changes in the laws and regulations applicable to Enel Américas or its subsidiaries. Such forward-looking statements reflect only our current expectations, are not guarantees of future performance and involve risks and uncertainties.
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