Chile · Delayed Price · Currency is CLP Enel Chile Earnings Call Transcripts
Fiscal Year 2025
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2025 results met guidance despite drought and contract expirations, with EBITDA up and net income down due to higher depreciation and bad debt. The 2026-2028 plan targets $2B CapEx, 1 GW new renewables, and 80% renewables mix by 2028, maintaining a 50% dividend payout.
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Thermal and gas optimization offset weak hydrology, keeping EBITDA stable year-over-year. Net income fell 21% due to higher depreciation and bad debt, while FFO rose on regulatory receivable recovery. Guidance is confirmed, with strong liquidity and ongoing investment in grids, thermal, and storage.
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EBITDA rose 10% year-over-year to $659M in H1 2025, driven by strong generation and gas trading, while net income fell 8% due to higher D&A and impairments. BESS investments of $400M (453 MW) are set for completion by 2027, and full-year guidance is confirmed.
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Q1 2025 saw strong EBITDA and net income growth, driven by portfolio optimization and grid resilience investments, despite lower hydro and solar output. CapEx guidance and hydrology targets remain on track, with regulatory changes and climate risks closely monitored.
Fiscal Year 2024
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Hydro and renewables drove a 12% generation increase and strong financial results, with adjusted EBITDA up to $1.4B and net income up 22% year-over-year. Despite major August outages and regulatory headwinds, guidance and CAPEX plans for 2025 remain intact.
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Chile's energy transition accelerates with a focus on renewables, BESS, and regulatory reform. The 2025-2027 plan targets $1.8B CapEx, stable EBITDA, and improved margins through optimized sourcing and selective investments, while maintaining strong financial discipline.
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Hydro generation and renewables drove strong margin and earnings growth, with EBITDA and net income at the upper end of guidance. Factoring of regulatory receivables improved liquidity, while regulatory and weather-related risks remain under close watch.
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Strong H1 2024 results driven by robust hydro and renewable generation, with EBITDA up 74% and net income more than doubling year-over-year. Regulatory milestones achieved, liquidity remains solid, and 2024 guidance is confirmed with higher hydro output expected.