The following is a summary of the Enel Chile S.A. (ENIC) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Enel Chile reported recovery of around $358 million related to the stabilization mechanism, creating a positive impact on their net income.

• The company exceeded all its financial targets for 2023, indicating strong future prospects.

• Net income and EBITDA reached the upper range of the 2023 guidance, meeting committed leverage and net debt-to-EBITDA ratios.

• EBITDA for Q4 2023 was $471 million, a $71 million increase compared to Q4 2022 due to improved hydrology and increased gas trading activity.

• Total CapEx for 2023 reached $804 million, with 78% related to renewables and storage.

Business Progress:

• The company added approximately 600 megawatts of new renewable energy capacity, including their first BESS project in 2023.

• Achievements in its greenhouse gas reduction goals, reaching 77% of renewables and 74% of greenhouse gas-free production over the total during 2023.

• Anticipation of the approval and publication of the PDL in the first semester of 2024 from the regulatory context.

• Execution of new firm agreements with Argentinian gas suppliers for 2024 to optimize combined cycle and generation cost.

• Successful completion of all critical works for the Los Condores project, which is expected to be online in the second semester of 2024.

More details: Enel Chile IR

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