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Enel Chile(ENIC) - 2021 Q4 - Annual Report
2022-04-27 22:51
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR ...
Enel Chile(ENIC) - 2021 Q4 - Annual Report
2022-04-27 16:00
[Significant Event: Dividend Distribution Announcement](index=2&type=section&id=Significant%20Event%3A%20Dividend%20Distribution%20Announcement) Enel Chile S.A. announced the approval and details of its final dividend for the fiscal year 2021 [Dividend Details](index=2&type=section&id=Dividend%20Details) Enel Chile S.A. announced that its Ordinary Shareholders Meeting on April 27, 2022, approved a final dividend for the fiscal year 2021, with a remaining payment of CLP 18.29 billion, or approximately CLP 0.26437 per share, scheduled for May 27, 2022 Dividend Distribution Summary | Metric | Value (CLP) | | :--- | :--- | | **Total Final Dividend** | 25,546,190,616 | | **Total Final Dividend per Share** | 0.369343099369741 | | **Remaining Dividend to be Paid (N°12)** | 18,285,678,392 | | **Remaining Dividend per Share** | 0.264371672195605 | | **Record Date** | May 20, 2022 | | **Payment Date** | May 27, 2022 | - The dividend was approved at the Ordinary Shareholders Meeting held on **April 27, 2022**[3](index=3&type=chunk) [Dividend Distribution Form Details](index=3&type=section&id=Dividend%20Distribution%20Form%20Details) This section details the company, agreement, dividend specifications, shareholder rights, and payment procedures for the announced dividend [Company and Agreement Information](index=3&type=section&id=Company%20and%20Agreement%20Information) The dividend distribution form filed with the Chilean Financial Market Commission identifies the company as ENEL CHILE S.A. (Ticker: ENELCHILE), with the agreement formalized at the Ordinary Shareholders' Meeting on April 27, 2022 Company and Agreement Details | Item | Detail | | :--- | :--- | | **Company** | ENEL CHILE S.A. | | **Local Ticker** | ENELCHILE | | **Agreement Date** | April 27, 2022 | | **Agreement Body** | Ordinary Shareholders' Meeting | [Dividend Specifications and Shareholder Rights](index=3&type=section&id=Dividend%20Specifications%20and%20Shareholder%20Rights) The definitive dividend of CLP 18.29 billion is for the fiscal year ended December 31, 2021, payable in cash to 69.17 billion shares for shareholders registered by the closing date of May 20, 2022 Dividend Specifications | Specification | Detail | | :--- | :--- | | **Dividend Amount** | CLP 18,285,678,392 | | **Dividend Type** | Definitive minimum by law | | **Fiscal Year Ended** | December 31, 2021 | | **Payment Type** | In cash | | **Number of Shares** | 69,166,557,219 | | **Closing (Record) Date** | May 20, 2022 | | **Payment Date** | May 27, 2022 | [Payment Procedures and Additional Information](index=6&type=section&id=Payment%20Procedures%20and%20Additional%20Information) Dividend payment will commence on May 27, 2022, through bank transfers, mailed checks, or in-person collection, charged to the net income of fiscal year 2021, with tax credit implications and official notice to be announced separately - The dividend will be paid via bank transfer, mailed check, or can be withdrawn at any **Banco de Crédito e Inversiones (BCI)** branch[14](index=14&type=chunk) - The dividend is charged against the Net Income for the fiscal year ended **December 31, 2021**[13](index=13&type=chunk) - Information regarding potential tax credits associated with the dividend will be announced to shareholders at a later time[12](index=12&type=chunk) - The official dividend announcement was set to be published in the newspaper 'El Mercurio de Santiago' on **May 6, 2022**[15](index=15&type=chunk)
Enel Chile(ENIC) - 2021 Q4 - Earnings Call Presentation
2022-03-01 04:59
Q4 & FY Consolidated results February 28, 2022 Q4 & FY 2021 Key highlights, strategy updates and operational performance Paolo Pallotti CEO enel INTERNAL Key highlights of the period enel Externalities Decarbonization Sustainable Finance ESG Raters / Indexes | --- | --- | --- | --- | |----------------------------------------------|----------------------------------------------|-------------------------------------------------------|--------------------------------------------------------------------------| ...
Enel Chile(ENIC) - 2021 Q4 - Earnings Call Transcript
2022-03-01 00:20
Financial Data and Key Metrics Changes - Full-year 2021 adjusted EBITDA reached $0.8 billion, a 3% decrease compared to the previous year, while Q4 adjusted EBITDA was $258 million, aligning with 2021 guidance [21][24]. - Full-year adjusted net income was $0.2 billion, consistent with annual guidance, and Q4 payments reached $96 million [24]. - Capex for 2021 was $1.1 billion, with a 1% increase from 2020, primarily in line with guidance [25]. Business Line Data and Key Metrics Changes - Energy production in Q4 2021 was 5.2 TWh, a decrease from Q4 2020, while total production for 2021 was 19 TWh, slightly lower than 2020 due to poor hydrology [27]. - Energy sales increased by 2% as of December 2021, attributed to new contracts with clients [27]. - The distribution business showed a recovery in Q4, while transmission contributions were expected to decline [42]. Market Data and Key Metrics Changes - The Chilean electricity system faced significant challenges due to one of the driest periods in history, impacting hydrology and generation capacity [6][10]. - Gas prices more than tripled from Q4 2020 to the second half of 2021, leading to increased costs and pressure on margins [11]. - The demand for electricity rose by 5% in 2021 compared to 2020, with expectations for continued growth into 2022 [12]. Company Strategy and Development Direction - The company is advancing its renewable projects, having connected 900 MW of renewable capacity in 2021, with a total of 8 GW now connected [16]. - The focus on sustainability is evident, with 21% of total debt linked to sustainability targets, aiming for 52% by 2024 [9]. - The company is also enhancing its digitalization efforts, with 90% of client interactions conducted through digital channels in 2021 [18]. Management's Comments on Operating Environment and Future Outlook - Management noted that the hydrology situation remains challenging, but gas availability from Argentina has improved, aiding resource management [44]. - The company expects to maintain its EBITDA guidance for 2022, despite ongoing challenges in the market [66]. - The management expressed confidence in the recovery of the distribution business and the overall economic recovery post-pandemic [19]. Other Important Information - The company was included in the Bloomberg Gender Equality Index for the first time and received a B score in the CDT climate change assessment [9]. - Total outstanding debt as of December 31, 2021, was $210 million, with $140 million related to residential clients [15]. Q&A Session Summary Question: Regarding the evolution of EBITDA in the macro business from distribution and transmission - Management indicated that distribution saw a decline in 2021 but showed recovery in Q4, while transmission contributions were expected to decline [42]. Question: Update on hydrology outlook for 2022 and EBITDA guidance - Management confirmed that water availability remains low, but gas availability has improved, allowing for better management of resources [44][45]. Question: Clarification on asset rotation transactions - Management stated they are considering selling non-core assets as part of their strategy to address debt [46]. Question: Insights on the tariff stabilization mechanism - Management noted that alternatives for the stabilization mechanism post-June are being explored, but no definitive plans are in place yet [66]. Question: Status of Bocamina 2 retirement - Management confirmed plans to close Bocamina 2 by May 2020, but any delays would require careful management and community engagement [68]. Question: Confirmation of 2022 EBITDA target - Management reaffirmed the EBITDA guidance of $1 million to $1.1 million for 2022, indicating no significant issues anticipated [66].
Enel Chile(ENIC) - 2021 Q3 - Earnings Call Transcript
2021-11-01 16:36
Enel Chile S.A. (NYSE:ENIC) Q3 2021 Earnings Conference Call October 29, 2021 12:00 PM ET Company Participants Isabela Klemes - Head of Investor Relations Paolo Pallotti - CEO Giuseppe Turchiarelli - CFO Conference Call Participants Javier Suarez - Mediobanca Murilo Riccini - Santander Operator Good day, ladies and gentlemen, and welcome to Enel Chile Third Quarter and 9 Months 2021 Results Conference Call. My name is Victor, and I will be your operator for today. During this conference call, we may make st ...
Enel Chile(ENIC) - 2021 Q3 - Earnings Call Presentation
2021-11-01 12:57
Q3 & 9M Consolidated results October 29, 2021 ene Chile Q3 & 9M 2021 Key highlights and operational performance Chile Paolo Pallotti CEO ene INTERNAL Key highlights of the period Chile Externalities Decarbonization Electrification Sustainable finance | --- | --- | --- | --- | |--------------------------------------------------------------|-------------------------------------------------------------------------|-------------------------------------------------------|----------------------------------------- ...
Enel Chile(ENIC) - 2021 Q2 - Earnings Call Transcript
2021-08-01 03:50
Enel Chile SA (NYSE:ENIC) Q2 2021 Earnings Conference Call July 28, 2021 9:30 AM ET Company Participants Isabela Klemes - Head, IR Paolo Pallotti - CEO Giuseppe Turchiarelli - CFO Conference Call Participants Operator Good day, ladies and gentlemen, and welcome to the Enel Chile Q2 and First Half 2021 Results Conference Call. My name is Felita, and I will be your conference operator today. During this conference call, we may make statements that constitute forward-looking statements within the meaning of th ...
Enel Chile(ENIC) - 2020 Q4 - Earnings Call Transcript
2021-03-01 23:15
Enel Chile S.A. (NYSE:ENIC) Q4 2020 Earnings Conference Call March 1, 2021 9:00 AM ET Company Participants Isabela Klemes - Head, Investor Relations Paolo Pallotti - Chief Executive Officer Giuseppe Turchiarelli - Chief Financial, Administration & Control Officer Conference Call Participants Javier Suarez - Mediobanca Enrico Bartoli - Stifel Murilo Riccini - Santander Operator Good day, ladies and gentlemen and welcome to Enel Chile Fiscal Year 2020 Results Conference Call. My name is Carmen and I will be y ...
Enel Chile(ENIC) - 2020 Q4 - Earnings Call Presentation
2021-03-01 14:52
Full Year and Q4 Consolidated results March 1st, 2021 Chile Full Year 2020 Key highlights and targets Paolo Pallotti CEO Chile Key highlights of the period Resilient performance ESG Positioning Shareholders remuneration Decarbonization Chile | --- | --- | --- | --- | |------------------------------------------------------|-----------------------------------------------------------------------------------|------------------------------------------------------------|------------------------------------------- ...
Enel Chile(ENIC) - 2020 Q3 - Earnings Call Transcript
2020-11-01 12:40
Financial Data and Key Metrics Changes - The adjusted EBITDA for 2020, net of COVID-19 impact, would have reached $866 million, which is $58 million higher than the previous year [58] - The reported net income for the nine months of 2020 was $282 million, with adjusted figures totaling $324 million, reflecting a 16% decrease compared to the same period in 2019 [74] Business Line Data and Key Metrics Changes - The total net production for the nine-month period decreased by 12.1%, amounting to 14 terawatt hours, with 61% of generation coming from renewable sources [44] - Physical energy sales decreased by 5.5% or 1 terawatt hour, primarily due to lower demand from distribution companies related to the termination of regulatory PPAs [48] Market Data and Key Metrics Changes - The lockdown measures significantly impacted electricity demand across various economic sectors, particularly in industrial and commercial segments [18] - The collection rate during 2020 reached 96%, down from historical levels of around 99%, mainly due to the economic situation and regulatory measures [22] Company Strategy and Development Direction - The company is focused on accelerating the development of renewable projects to support economic recovery and has created approximately 3,600 new jobs in construction [16] - The company announced the start of construction for the 204-megawatt Domeyko solar plant and plans to disconnect the Bocamina 1 coal plant by the end of the year [9][30] Management Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges posed by COVID-19 but emphasized the company's operational resilience and commitment to supporting clients [12] - The company expects gradual improvements in demand as regions begin to reopen, with a focus on the green economy and renewable energy [15][18] Other Important Information - The company is participating in a pilot project for green hydrogen production, which is expected to be one of the largest of its kind in Latin America [11][38] - The gross debt increased to $4.15 billion as of September 2020, primarily due to new funding to support CapEx plans [77] Q&A Session Summary Question: Impact of bad debt on working capital - Management indicated that the working capital was significantly impacted by lower collections due to COVID-19, amounting to $99 million, and the energy stabilization mechanism [90] Question: Guidance on EBITDA - Management expressed confidence in meeting the previously provided guidance of $1.2 billion to $1.3 billion for EBITDA, potentially leaning towards the lower end depending on external factors [86] Question: Strategy behind renewable projects - The company is focusing on a portfolio approach for renewable projects, ensuring that they are not linked to single clients, thus minimizing pricing risk [88] Question: Gas sales performance - Management noted that gas sales margins were affected by lower international commodity prices, and they do not expect to achieve the same margins as in the previous year [100] Question: CapEx expectations for the year - Management anticipates that while they may not reach the full CapEx amount planned for the year, they do not foresee a significant gap in investments for ongoing projects [99]