Enel Distribución Perú: Investments grow by 14.1 % in the first quarter of 2021

Published on Tuesday, 4 May 2021

Lima, April 29, 2021. Today, Enel Distribución Perú S.A.A. published its financial and operating results for the first quarter 2021.

“The progressive reactivation of economic activities in the country has given a boost to the electricity sector as a whole. In this first quarter of the year, we registered positive results that allow us to look confidently into the following months. However, we must not lose sight of the fact that the pandemic is still a challenge for a large part of our clients. For this reason, we will continue allocating resources to strengthening the electricity service, the electrification of more houses through our ‘Energía para Crecer’ project, digitalizing our services, and the continuity of financing programs according to their needs” said Marco Fragale, Country Manager of Enel Perú.

 

MAIN FINANCIAL RESULTS

(Millions of Peruvian Soles)

 

Q1 2021

Q1 2020

% Variation

REVENUES

846

800

+5.7 %

EBITDA

213

182

+16.6 %

NET INCOME

83

71

+16.4 %

DEBT WITH THIRD PARTIES

1,776

1,565

+13.4 %

CAPEX

91

80

+14.1 %

 

  • REVENUES: increased mainly due to higher consumption from free customers and tolls registered in March 2021, following a base effect when comparing these results with those of the previous year, when a strict quarantine was established in the country. The increase occurred despite the lower consumption from regulated customers as a result of the restrictive measures placed during the second wave of the pandemic, which were applied during the first quarter of 2021.
  • EBITDA: increased due to higher revenues, despite a higher energy purchase price associated with the indexation of the tendered contracts.
  • NET INCOME: increased due to a better operating result, partially offset by the growth in income tax associated with a higher tax base in this period and a deferred tax adjustment from previous years.  
  • DEBT WITH THIRD PARTIES: it increased by PEN 210 million, mainly to ensure the continuity and quality of the service provided throughout the pandemic. It also made it possible to finance the annual investment plan and continue to provide payment facilities to our clients during the health emergency.
  • CAPEX: increased by PEN 11 million, due to the greater projects execution on digitalization and maintenance of low voltage networks that bring energy to our customers, as well as the electrification of more and more homes in our concession area through the “Energía para Crecer” program, which has very ambitious goals this year. It should be noted that the electricity supply has been operating normally since the beginning of the pandemic, in line with our objective of ensuring the quality and continuity of the service for our customers.

 

MAIN OPERATING RESULTS

 

Q1 2021

Q1 2020

% Variation

ENERGY DISTRIBUTION (GWh)

2,123

2,052

+3.4 %

CUSTOMERS (THOUSANDS)

1,462

1,438

+1.7 %

 

  • ENERGY DISTRIBUTION (GWh): increased mainly due to higher energy consumption from free customers, as a consequence of a gradual recovery in commercial and industrial activity.
  • CUSTOMERS: increased by 1.7 % mainly due to new residential connections (regulated low voltage customers).

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