Enel Generación Perú: EBITDA increased by 2.8 % in the first quarter of 2021

Published on Tuesday, 4 May 2021

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

“We are optimistic about the results of the first quarter, as we have managed to maintain last year's levels despite the challenges of the pandemic. We are confident that the productive sectors will continue to become more dynamic and electricity generation will accompany their growth. In our case, this will come with a significant presence of renewable energies and pioneering infrastructure in the country that progressively materialize into a path for Peru's energy transition”, emphasized Marco Fragale, Country Manager of Enel Perú.

 

MAIN FINANCIAL RESULTS

(Millions of Peruvian Soles)

 

Q1 2021

Q1 2020

% Variation

REVENUES

366

360

+1.5 %

EBITDA

209

204

+2.8 %

NET INCOME

145

143

+1.1 %

DEBT WITH THIRD PARTIES

121

114

+6.5 %

CAPEX

10

16

-37.5 %

 

  • REVENUES: increased due to a higher average sales price (+5 %) achieved in spite of lower sales of energy and power, which were a result of lower demand from regulated customers within the framework of the mobilization restrictions placed during the second wave of COVID-19.
  • EBITDA: stayed in line with the increase in revenue.
  • NET INCOME: increased due to the EBITDA result, despite a negative effect of the exchange rate and a lower financial result.
  • DEBT WITH THIRD PARTIES: increased due to a leasing operation to finance the system of large-capacity batteries for energy storage at the Ventanilla thermal power plant (BESS Ventanilla).
  • CAPEX: decreased due to the rescheduling of maintenance work in comparison to March 2020. These works will be carried out in the following months. Beyond this, the company is executing its investment plan, mainly focused on the automation and digitization of its operations to guarantee the continuity of electricity generation.

 

MAIN OPERATING RESULTS

 

Q1 2021

Q1 2020

% Variation

NET POWER GENERATION (GWh)

1,586

1,467

+8.1 %

ENERGY SALES (GWh)

1,875

1,975

-5.1 %

 

  • NET POWER GENERATION (GWh): increased by +7 % due to higher hydroelectric generation, going from 947 GWh to 1,011 GWh in 2021 as a result of the greater availability of water resources in the country. On the other hand, thermal generation increased by +11 %, going from 520 GWh to 575 GWh in 2021, due to the commissioning of our plants for the maintenance of other units in the Peruvian power generation park.
  • ENERGY SALES (GWh): decreased in line with the lower demand from electricity distribution companies (regulated customers), as a result of the contraction in economic activity due to the second wave of the pandemic.

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014