Enel Distribución Perú: 75 million soles were invested in 1Q 2019

Published on Wednesday, 24 April 2019

Lima, April 24th, 2019 – Enel Distribución Perú S.A.A. published its financial and operating results for the first quarter of 2019.

“The beginning of the year has been positive for the company. We have surpassed the records achieved during the same period in 2018. This is also reflected in the high amount of investments made by the company, which have risen to 75 million soles, in line with our reiterated commitment to guarantee the quality of service provided to our customers and the constant improvement of the Peruvian power distribution network”, said José Manuel Revuelta, Country Manager of Enel in Perú.

MAIN FINANCIAL RESULTS

(Millions of Soles)

 

1Q 2019

1Q 2018

Variation

REVENUES

816

762

+7.2%

EBITDA

227

178

+27.5%

NET INCOME

113

88

+28.9%

NET DEBT

1,351

1,368

-1.2%

CAPEX

75

69

+8.7%

 
  • REVENUES: increased due to a larger volume of energy sold (+6.5%), because of a more dynamic Peruvian economy, which registered a growth in GDP by 1.83%.[1] In the same way, the increment in income was a result of a higher average sale prices (+1.6%), which are indexed to the inflation measure on the wholesale market (IPM, by its initials in Spanish), in line with the country’s regulatory framework on the matter.
  • EBITDA: grew due to better gross profit of 53 million PEN (+29.0%) as a result of better revenues from energy distribution (+7.2%), which was partially offset by higher operating costs by 7 million PEN (+14.8%).
  • NET INCOME: increased in comparison to last year, mainly as a result of a better EBITDA. This factor greatly compensated the increase of Peruvian income tax in 63% (19 million PEN) for a greater tax base of the company and the increase in amortizations (+4.1%).
  • NET DEBT: decreased by 1.2% due to a greater account balance (202 million PEN) as a result of better management of working capital within the company, and despite the increase in gross debt in 28 million soles to finance the investments plan.
  • CAPEX: increased in 6 million soles and was focused mainly on satisfying client demand, amplifying and reinforcing the company’s network, and following the goal of guaranteeing the quality and safety of the service.

 

MAIN OPERATING RESULTS

 

1Q 2019

1Q 2018

Variation

ENERGY DISTRIBUTION  (GWh)

2,152

2,021

+6.5%

CUSTOMERS (MILES)

1,429

1,403

+1.7%

 

  • ENERGY DISTRIBUTION: increased in accordance with the greater consumption of low voltage regulated clients because of new residential connections, and due to higher consumption of free customers (+12.8%).
  • CUSTOMERS: increased mainly due to the new residential network connections (low voltage).
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