Enel Distribución Perú: revenues grew by 5.9% at 9M 2019

Lima, October 25^th, 2019. Today, Enel Distribución Perú S.A.A. published its financial and operating results for the first nine months of 2019.

“Company performance remains sound in this quarter, leveraged in revenues growth and lower sale costs. Likewise, our investments continue to be significant and are in line with the levels reached in recent years”, said José Manuel Revuelta, Country Manager of Enel Peru. "We will certainly continue along this path of growth, always keeping our focus on providing a quality service for our customers and contributing to the modernization of the electricity sector."

MAIN FINANCIAL RESULTS

(Millions of soles)

• REVENUES: increased due to higher energy sales (+2.9%) as a result of increased consumption by residential and free customers, in addition to a higher average sale price (+2.9%). These factors compensated the lower sales volume in the medium voltage segment (-10.9%) due to the migration of regulated customers to the free market.
• EBITDA: it grew due to revenues increase. Additionally, there was a lower sale costs by 45 million PEN, resulting from the extension of energy supply contracts with generation companies. These contracts were extended to diminish the effects of the initially contracted power which was not demanded by regulated medium-voltage customers, who modified their contracts towards a free scheme.
• NET INCOME: it increased as a result of higher EBITDA, which offset i) higher amortizations by +8.8% (11.3 million PEN) linked to the investments in the period; ii) an increase in financial expenses by +12.3% (7.9 million PEN) due to a reversal of a legal contingency that favored the 2018 results and; iii) the increase in income tax by +28.8% (30 million PEN) due to a higher taxable base.
• NET DEBT: increased by 127 million PEN due to the investment plan financing.
• CAPEX: decreased by 10 million PEN, mainly due to lower activity in network movement and the implementation of technological improvements in management systems. Investments in this period focused on satisfying customer demand, expanding and strengthening the company's networks, with the goal of ensuring the quality and safety of the service.
  

MAIN OPERATING RESULTS

• ENERGY DISTRIBUTION: increased in line with the higher consumption of regulated low-voltage clients and free customers.
• CUSTOMERS: increased mainly due to new residential connections (regulated customers), as a result of organic population growth and migration to our concession area.