Lima, February 22nd, 2017 – The Board of Directors of Enel Generación Perú S.A.A., chaired by Carlos Temboury, has today approved the company’s operating and financial results for 2016.
Carlos Temboury, Enel’s Country Manager in Peru, said: “The company's revenues increased mainly because of the signing of new contracts with free clients as the result of an intense commercial activity that allowed us to partly offset the reduction of market margins driven by overcapacity.”
MAIN FINANCIAL RESULTS (expressed in millions of Soles, PEN)
|
2016 |
2015 |
Change |
REVENUES |
1,786 |
1,657 |
+7.7% |
EBITDA |
606 |
776 |
-21.9% |
NET INCOME |
214 |
443 |
-51.8% |
GROSS DEBT |
318 |
494 |
-35.6% |
CAPEX |
140 |
117 |
+19.7% |
- REVENUES: increased 7.7% due to the signing of new contracts with free clients, despite the reduction in wholesale prices driven by overcapacity.
- EBITDA: decreased 21.9% with the increase in revenues offset by margin reduction due to the above-mentioned overcapacity situation in the country and by extraordinary effects such as the write-off of the Curibamba hydropower project resulting from the project's temporary suspension.
- NET INCOME: decreased 51.8% because of EBITDA reduction and tax rate increase from 28% to 29.5%[1].
- GROSS DEBT: decreased 35.6% due to the payment of the company’s financial obligations.
- CAPEX: increased nearly 20% to 140 million PEN as a result of the maintenance plan for 2016.
MAIN OPERATIONAL RESULTS (expressed in Gigawatts hour, GWh)
|
|
2016 |
2015 |
Change |
Net power generation (GWh) |
|
7,211 |
7,247 |
-0.5% |
Energy sales (GWh) |
|
8,080 |
7,265 |
11.2% |
- Net power generation: decreased by 0.5% to 7,211 GWh as a result of the lower hydropower production (-336 GWh), due to lower hydro capacity in 2016. As a result, thermal production increased by 8.3% (301 GWh).
- Energy sales (GWh): physical sales reached 8,080 GWh – an increase of 11.2% compared to 2015 – due to the signing of new contracts with free clients.
[1] In line with Legislative Decree 1261 of December 10th, 2016.
Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014