Enel Generación Perú continues to post solid performance in 9M 2018

Published on Wednesday, 31 October 2018

Lima, October 30th, 2018 - Today, Enel Generación Perú S.A.A., published its financial and operating results for the first nine months of 2018.

“The positive results posted by the company confirm our ability to adapt to the structural changes currently underway in the market through our solid commercial strategy and financial management, against a backdrop of significantly lower prices. We will continue to pursue large commercial and industrial customers, in line with our commitment to contribute to the country’s development,” said José Manuel Revuelta, Enel’s Country Manager in Peru.

 

MAIN FINANCIAL RESULTS

(Expressed in millions of Soles)

 

9M 2018

9M 2017

Variation

REVENUES

1,507

1,307

+15.2%

EBITDA

681

494

+37.8%

NET INCOME

460

284

+61.8%

DEBT WITH FINANCIAL ENTITIES

143

175

-18.1%

CAPEX

99

53

+88%

 

  • REVENUES: increased vs 9M 2017 in line with higher energy sales (7.5%), mainly due to the increased volumes of energy sold to new customers in the free market and a favorable outcome of an arbitration proceeding for 53 million PEN.
  • EBITDA: increased compared to 9M 2017 as a result of higher revenues from: i) capital gains for the sale of shares in Enel Brasil to Enel Américas for 89 million PEN, transaction closed in May 2018, ii) insurance compensation for the negative effect in 2017 of Niño Costero on Callahuanca hydro plant (55.1 million PEN). 
  • NET INCOME: increased vs 9M 2017 in line with EBITDA growth, which more than offset higher taxes by 50 million PEN resulting from the company’s higher taxable income.
  • DEBT WITH FINANCIAL ENTITIES: decreased by 32 million PEN reflecting the schedule of payments of financial obligations.
  • CAPEX: increased due to recovery works at the Callahuanca hydro plant (48.2 million PEN), recovered by Enel Group’s corporate insurance policy.

 

MAIN OPERATING RESULTS

 

 

9M 2018

9M 2017

Variation

NET POWER GENERATION (GWh)

4,738

3,970

+19.3%

ENERGY SALES (GWh)

6,518

6,046

+7.8%

 

  • NET POWER GENERATION: rose to meet demand growth mainly from new customers, specifically through thermal generation (+56%), which went up to 2,731 GWh from 1,750 GWh, offsetting the lower water availability in the country. On the other hand, hydropower generation decreased by 9.6%, going down to 2,007 GWh from 2,220 GWh, following the impact of Niño Costero on the Callahuanca hydro plant in 2017.
  • ENERGY SALES (GWh): increased by 472 GWh, reflecting the signing of new agreements with free customers, which came into force in 1Q 2018. 
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