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Latin American energy holding company Enersis reported first half net income of 191bn Chilean pesos (US$339mn), down 40.7% year-on-year due to non-recurring items, increased expenses in Brazil and unfavorable exchange rates in Argentina.
Revenues were up 7% to 3.38tn pesos in the first six months of 2014, offset by a 20.7% increase in supply and services costs, the company said in a release.
Physical distribution sales increased 3.8% in the first half to 38,375GWh, while physical generation sales were up 3.8% to 33,266GWh. Consolidated average demand grew 4.7% in the period, while the number of clients rose 3% to 14.6mn.
Endesa Chile, a subsidiary of Enersis, reported H1 net income of 92.7bn pesos, down 7% compared to the year-ago period, hit by higher supply costs and unfavorable exchange rates.
Net production dropped 3% to 23.352GWh, partly impacted by halted operations at its 350MW coal-fired plant Bocamina II, while sales were down 1%.
And Enersis' Chilean distribution subsidiary Chilectra reported net income of 54.5bn pesos, down 62% compared to 1H13.
The decrease was mainly attributed to lower contributions from South American subsidiaries, particularly Argentina and Brazil.
In 2014, Chilectra plans to invest US$100mn in power infrastructure, according to a company release.
BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda.