Enel Chile ( (ENIC) ) has released its Q4 earnings. Here is a breakdown of the information Enel Chile presented to its investors.
Enel Chile is a prominent energy company operating in the electricity generation and distribution sectors in Chile, with a strong focus on renewable energy sources. The company has a diversified energy portfolio that includes hydroelectric, wind, solar, and thermal power plants.
In its latest earnings report for the year ending December 31, 2024, Enel Chile reported a significant decline in net income attributable to shareholders, which fell by 77.1% compared to the previous year. This decrease was 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 Generación Chile.
Key financial metrics revealed a 9.0% decrease in operating revenues, largely impacted by the discontinuation of hedging derivatives and reduced gas sales. The company’s EBITDA also saw a substantial decline of 30.6%, attributed to the same extraordinary effects. On the operational front, Enel Chile expanded its renewable energy capacity by adding 249 MW through new photovoltaic and energy storage projects.
Despite the challenging financial results, Enel Chile’s distribution and networks segment showed resilience with a 3.3% increase in physical sales and a 1.5% growth in the number of end customers. However, this segment’s EBITDA decreased by 34.5% due to higher energy purchase costs and fines related to extraordinary weather events.
Looking ahead, Enel Chile remains committed to its strategic focus on renewable energy and operational efficiency. The management continues to navigate the financial impacts of currency changes and regulatory adjustments while aiming to enhance its energy generation and distribution capabilities.