Lima, October 25th, 2019.– Today, Enel Generación Perú S.A.A. published its financial and operating results for the first nine months of 2019.
"Our commercial strategy has allowed us to reach a good level of sales from quarter to quarter and, thus, maintain our income growth in the challenging energy oversupply context we live in today," said José Manuel Revuelta, Country Manager of Enel Peru. "We are very confident in sustaining this good performance in the remainder of 2019, as we dispatch more and more renewable energy within the system and efficiently satisfy our customer’s demand."
MAIN FINANCIAL RESULTS
(Millions of soles)
|
9M 2019 |
9M 2018 |
% variation |
REVENUES |
1,120 |
1,067 |
+5.0% |
EBITDA |
543 |
681 |
-20.2% |
NET INCOME |
317 |
460 |
-31.1% |
DEBT WITH FINANCIAL ENTITIES |
103 |
143 |
-27.8% |
CAPEX |
91 |
99 |
-8.0% |
- REVENUES: increased due to higher energy sales (+3.4%) related to new free customer contract signings and a higher average sales price (+3.5%). These factors more than compensated the negative result of the renegotiation with distribution companies for the extension of their energy supply contracts (11 million PEN) and the positive effect of 53 million PEN registered in 2018 following an arbitration process
- EBITDA: it decreased mainly because extraordinary effects that took place in 2018 and generated higher revenues, such as the capital gain from the sale of Enel Brasil’s stake to Enel Américas (89 million PEN) and the insurance compensation for the damages to the Callahuanca hydroelectric plant caused by “El Niño Costero” (55 million PEN).
- NET INCOME: decreased in comparison to the previous period, mainly due to the decrease in EBITDA, a lower financial result and a negative effect on the exchange rate of 14 million PEN. These factors were partially compensated by a 24 million PEN tax reduction, as a result of a lower taxable base.
- NET DEBT: decreased by 40 million PEN according to the financial obligations payment schedule.
- CAPEX: decreased due to fewer restoration works at the Callahuanca hydroelectric plant. It should be noted that the company has also been carrying out maintenance and expansion activities at its facilities in line with its investment plan.
MAIN OPERATING RESULTS
|
9M 2019 |
9M 2018 |
% variation |
NET POWER GENERATION (GWh) |
4,979 |
4,744 |
+5.0% |
ENERGY SALES (GWh) |
6,738 |
6,518 |
+3.4% |
- NET POWER GENERATION: increased mainly due to a 23% growth in hydroelectric generation, which went from 2,006 GWh to 2,473 GWh with the re-activation of the Callahuanca power plant, whose water flow benefited production at the hydroelectric Moyopampa. On the other hand, thermal generation decreased by 8%, from 2,738 GWh to 2,506 GWh, due to lower production of the Santa Rosa thermal power plant, as a result of the June 2018 gas price declaration.
- ENERGY SALES (GWh): its 220 GWh increase was related to new contract formalization with free clients.
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