Enel Chile SA ( (ENIC) ) has issued an update.
Enel Chile S.A. reported a significant decrease in net income for the year ending December 31, 2024, primarily due to the discontinuation of risk hedging instruments linked to the US dollar, following a change in the functional currency of its subsidiary, Enel Generacion Chile. Despite this, when excluding extraordinary effects, the company’s adjusted net income showed a 22.4% increase compared to the previous year. The company’s operating revenues and EBITDA were also impacted by these changes and lower gas sales, although the company continued to expand its renewable energy capacity with new photovoltaic and energy storage projects. Enel Chile’s operations in the generation segment saw a slight increase in electricity generation, while the distribution segment experienced growth in physical sales and customer numbers.
More about Enel Chile SA
Enel Chile S.A. is a company operating in the energy sector, primarily involved in electricity generation, distribution, and network services. The company focuses on renewable energy projects and operates in the Chilean market, with significant investments in photovoltaic and hydroelectric power plants.
YTD Price Performance: 21.48%
Average Trading Volume: 455,906
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.76B
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