Endesa Chile H1 profit doubles to US$266mn

Chilean generator Endesa Chile doubled its January-June net profit to 135bn pesos (US$266mn) compared to the 67.7bn pesos posted in 1H07, the company said in a statement.

The increase was attributed to a 3.6% rise in operating profits and a 56.3% increase in non-operating results because of improvements related to the company's activities in Brazil and GasAtacama holdings in Chile.

Revenues rose 25% to 1.08tn pesos compared to the 860bn pesos posted in 1H07. The increase was attributed to increased revenues from power sales in Chile, Colombia and Argentina. While physical power sales rose in Peru, revenues were negatively affected by lower average prices.

Ebitda for the first six months of the year rose 3.5% to 420bn pesos. Some 51% of company Ebitda for the period resulted from its activities in Chile and 30.7% from operations in Colombia. Peru accounted for 10% and Argentina followed with 8.3%.

Endesa Chile sold a total of 27.0TWh in the first half of the year, down 0.7% from the same period of 2007. The decrease was attributed to a to a conservation campaign launched in Chile, according to the statement.

Physical power sales in Argentina dropped 10% because of increased hydrology but increased 9% in Colombia and 6% in Peru.

Endesa generated 24.7TWh in the period, down 2.2% from 25.2TWh in 1H07. The decrease resulted from drier hydro conditions across the region compared to the same half of 2008.

Endesa Chile is controlled by Spain's Endesa through its Enersis subsidiary.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: July 31, 2008