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Enel Chile(ENIC) - 2023 Q4 - Annual Report
ENICEnel Chile(ENIC)2024-04-30 15:53

Debt Overview - As of December 31, 2023, the total outstanding debt amounted to 3,885,477 million Chwithafairvalueof3,842,177millionCh with a fair value of 3,842,177 million Ch[700]. - 88% of the total outstanding debt had fixed interest rates, while 12% was subject to variable interest rates as of December 31, 2023[707]. - The total fixed-rate debt was 3,125,974 million Chwithafairvalueof3,066,441millionCh with a fair value of 3,066,441 million Ch as of December 31, 2023[700]. - The weighted average interest rate for fixed-rate debt was 4.5% as of December 31, 2023[700]. - The weighted average interest rate for variable-rate debt was 5.3% as of December 31, 2023[700]. Risk Management - The company has a commercial policy to mitigate risks during extreme drought conditions, aligning sale commitments with generation capacity[695]. - The company aims to manage foreign currency risk through financial derivatives, with a total hedge value of 405,564 million ChasofDecember31,2023[714].−Thecarryingvalueforfinancialinstrumentshedginginterestrateriskwas43,856millionCh as of December 31, 2023[714]. - The carrying value for financial instruments hedging interest rate risk was 43,856 million Ch with a fair value of 1,075 million ChasofDecember31,2023[708].−AsofDecember31,2022,thetotalcarryingvalueforfinancialinstrumentshedgingforeignexchangeriskwas468,227millionCh as of December 31, 2023[708]. - As of December 31, 2022, the total carrying value for financial instruments hedging foreign exchange risk was 468,227 million Ch with a fair value of 8,260 million Ch[715].−Thecompanyevaluateshedgingstrategiescontinuouslytomitigatetheimpactofcommoditypricevolatilityonprofits[696].FinancialProjections−Thefinancialdataincludesexpectedmaturitiesfortheyears2023to2027,withsignificantamountsin2024(389,179millionCh[715]. - The company evaluates hedging strategies continuously to mitigate the impact of commodity price volatility on profits[696]. Financial Projections - The financial data includes expected maturities for the years 2023 to 2027, with significant amounts in 2024 (389,179 million Ch) and 2025 (79,048 million Ch$)[715]. - The future cash flows used for fair value calculations were discounted based on current discount rates reflecting various risks[716]. Additional Information - The company has provided a detailed note (Note 22) in its consolidated financial statements for further information on market risk[717]. - The information includes forward-looking statements, which are subject to safe harbor provisions[719]. - The company held hedges for Brent oil at 551 kBbl for purchases and 217 kBbl for sales to be settled as of December 31, 2023[699].