Enel Generación Perú registered significantly improved results in the first quarter of 2022

ENEL GENERACIÓN PERÚ REGISTERED SIGNIFICANTLY IMPROVED RESULTS IN THE FIRST QUARTER OF 2022

Lima, April 26^th, 2022.– Today, Enel Generación Perú S.A.A. published its financial and operating results for the first quarter of 2022.

“The company starts the year with a significant improvement in its financial and operating results, in line with the recovery of market demand after overcoming the most restrictive stage of the pandemic. We look at this year with optimism and we are confident that we will continue working hand in hand with different productive sectors in favor of the country's development”, emphasized Marco Fragale, Country Manager of Enel Perú.

MAIN FINANCIAL RESULTS

(Millions of Peruvian Soles)

·       REVENUE: increased due to higher physical energy sales (+8.3 %), associated with higher demand from distributors and a higher average sales price (+21.4 %) due to the indexation of contract prices with free and regulated customers.  

·       EBITDA: increased in line with higher revenues and a favorable out-of-court settlement with a company supplier for US$ 6 million. These factors offset the increase in the cost of generation due to higher gas purchases to meet the increase in thermal generation, in line with the greater demand for energy in the country.

·       NET INCOME: increased as a result of better operating performance, and higher financial income associated with higher dividends declared by the Chinango subsidiary, compared to the previous year. These factors were partially offset by the increase in taxes due to a higher tax base.

·       DEBT WITH THIRD PARTIES: increased by PEN 145 million to cover an obligation arising from arbitration with a third party in mid 2021. The company's low level of leverage of 0.1 times (debt/equity) should be highlighted as evidence of its financial strength.      

·       CAPEX: increased by PEN 10 million compared to the first quarter of 2021, mainly due to plant and equipment maintenance.

MAIN OPERATING RESULTS

·       NET POWER GENERATION (GWh): decreased mainly due to lower hydroelectric generation by -9.8 %, going from 1,011 GWh to 911 GWh in 2022, as a result of lower availability of water resources in the country compared to the same period in the previous year. On the other hand, thermal generation increased by 8.9 % compared to 2021, going from 575 GWh to 626 GWh in 2022.