Earnings release
Page 1
eNGie ENGIE ENERGÍA CHILE REPORTED EBITDA OF US $ 243 MILLION AND NET INCOME OF US $ 39 MILLION IN THE FIRST NINE MONTHS OF 2021 . EBITDA AMOUNTED TO US $ 56 MILLION IN THE THIRD QUARTER OF 2021 , A 59 % DECREASE COMPARED TO THE THIRD QUARTER OF 2020. THE EBITDA DROP IS PRIMARILY EXPLAINED BY THE INCREASE IN BOTH GENERATION COSTS AND SPOT PRICES , WHICH HAVE BEEN IMPACTED BY THE SEVERE DROUGHT IN THE COUNTRY AND THE STEEP RISE IN FUEL PRICES WORLDWIDE . ● ● Operating revenues amounted to US $ 1,087 million in the first nine months of 2021 , a 9 % increase compared to the same period in 2020 , mainly due to the demand recovery in the regulated and unregulated segments and the increase in average realized energy prices explained by higher CPI and fuel prices . EBITDA amounted to US $ 243 million in the first nine months of the year , a 28 % decrease compared to the first nine months of 2020 , mainly due to an increase in average energy supply costs and higher spot prices . This was due to weak hydro conditions , lower gas availability , generally lower performance of coal plants in the system , and rising coal and gas prices , particularly towards the end of the third quarter . Net Income reached US $ 39 million in the first nine months of 2021 , a 69 % decrease compared to the first nine months of 2020. This was basically due to the decrease in operating results and one - time financial expenses related to the sale of accounts receivable born from the application of the temporary price stabilization mechanism to regulated clients pursuant to Law # 21,185 dated November 2019 ( “ PEC ” ) . Total operating revenues Operating income EBITDA EBITDA margin Total non - operating results Net income after tax Net income attributed to controlling shareholders Earnings per share ( US $ / share ) Total energy sales ( GWh ) Total net generation ( GWh ) Financial Highlights ( in US $ millions ) 3Q21 365.8 Energy purchases on the spot market ( GWh ) Energy purchases - back up ( GWh ) 3Q20 338.7 86.8 135.8 40.1 % ( 11.7 ) 57.0 57.0 0.054 2,783 1,657 1,093 127 Var % 8 % 11.0 -87 % 55.6 -59 % 15.2 % 0,1pp % ( 0.7 ) n.a 8.7 -85 % 8.7 -85 % 0.008 October 27 , 2021 2,986 7 % 2,249 36 % 434 -60 % 127 0 % 9M20 9M21 Var % 996.0 1,086.5 203.4 109.1 337.8 243.3 33.9 % ( 47.6 ) 123.3 123.3 0.117 8,528 5,305 2,977 377 9 % -46 % -28 % 8,792 6,254 2,083 373 22.4 % ( 62.1 ) 38.7 -69 % 3.1 pp 31 % 38.7 -69 % 0.037 3 % 18 % -30 % -1 % ENGIE ENERGÍA CHILE S.A. ( “ ECL ” ) is engaged in the generation , transmission and supply of electricity and the transportation of natural gas in Chile . ECL is the fourth largest electricity generation company in Chile and one of the largest electricity generation companies in the northern segment of the SEN national grid ( formerly known as SING ) . As of September 30 , 2021 , ECL accounted for 8 % of the SEN's installed capacity . ECL primarily supplies electricity to large mining and industrial customers , and it also supplies electricity to distribution companies throughout Chile . ECL is currently 59.99 % indirectly owned by the French company , ENGIE LATAM . The remaining 40.01 % of ECL's shares are publicly traded on the Santiago stock exchange . For more information , please refer to www.engie-energia.cl .