Ebitda of Enel Generación Perú decreased 14.5% in 1H 2020 due to COVID-19

Published on Monday, 27 July 2020

Lima, July 27th, 2020.– Today, Enel Generación Perú S.A.A. published its financial and operating results for the first half of 2020.

"The lower energy consumption as a result of the slowdown in economic activity in the country due to COVID-19 has caused a considerable reduction in the company's financial and operating results at the end of the first half of the year. However, we are beginning to perceive the gradual demand recovery, so we will strengthen our efforts to continue generating quality energy and thus accompany the country in its progressive step towards the new normality," said José Manuel Revuelta, Country Manager of Enel Perú.


(Millions of Peruvian Soles)


1H 2020

1H 2019

% Variation






















  • REVENUES: decreased due to a lower sale of energy (-21.6%) and a lower sale of power (-6.8%) in the period, in line with the reduction in demand from customers, mainly free clients, in the context of the economic slowdown caused by the COVID-19 pandemic. Additionally, the company recorded a lower income of 21 million PEN due to the renegotiation carried out in 2018 with distribution companies for the extension of their energy supply contracts. These events were partially offset by a higher average sale price (+9.6%).
  • EBITDA: decreased by 14.5%, mainly due to the reduction in sales and a lower income related to insurance compensation, which was registered in the first quarter of 2019. The decrease occurred despite a lower cost of generation of 77 million of PEN (-17.9%), due to lower purchases of natural gas related to the reduction in thermoelectric generation, in line with the low demand experienced in this period.
  • NET INCOME: decreased in comparison to the previous year, mainly due to the lower EBITDA result. This factor was partially offset by a positive effect of the exchange rate of 41 million PEN, due to the appreciation of the dollar against the sol, and the reduction of income tax by 4.5 million PEN, associated with a lower tax base.
  • DEBT WITH FINANCIAL ENTITIES: remained stable in comparison to the previous period, due to the scheduled payment of financial obligations.
  • CAPEX: remained in line in relation to the first semester of 2019, in which the company completed the restoration works of the Callahuanca hydroelectric power plant. Currently, the company is carrying out maintenance and expansion activities at its facilities in line with its investment plan, mainly focused on the automation and digitization of its operations to guarantee the continuity of electricity generation.




1H 2020

1H 2019

% Variación










  • NET POWER GENERATION: decreased mainly due to a lower thermal generation of 54.3%, going from 1,556 GWh in 2019 to 711 GWh in 2020, due to lower production associated with lower energy demand nationwide. On the other hand, hydroelectric generation, whose dispatch was not significantly affected by lower energy demand, increased by 5.4%, from 1,694 GWh to 1,785 GWh, due to the greater availability of the Callahuanca hydroelectric power plant in relation to 2019.
  • ENERGY SALES (GWh): decreased by 21.6%, equivalent to 974 GWh, in line with lower customer demand in this period of slowdown in economic activity. The progressive restart of these activities in the country has been allowing the recovery of electricity consumption.

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