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Enersis' net income decreased 16 percent during 2013 first quarter

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EnersisEnersis Group net income reached CLP $84,159 millions in the first quarter of 2013
,  decreasing 16.4% from the CLP $100.661 millions registered in the same period of the last year, based on the information presented by the company to the Chilean Securities and Insurance Supervisor (Superintendencia de Valores y Seguros - SVS).

The Enersis Group diversified business assets portfolio as well as a presence in five countries in the region (Argentina, Brazil, Chile, Colombia, and Peru), allowed  Enersis to mitigate the higher taxation in Chile and Colombia, which explains the $16,502 million lower net income posted at the end of the first quarter of this year. 

Analyzing other results, the physical sales in the distribution business grew by 371 GWh, posting a 2.0% increase, while the generation segment showed a decrease of 443 GWh, equivalent to a 2.7% drop. Revenues amounted to $1,456,669 million, 10.4% lower compared with the first quarter of the last year, mainly as a consequence of lower distribution tariffs in Coelce and Chilectra and the combined effect of temperature and calendar days.

In the first quarter of this year, energy sales from the distribution segment of the Enersis Group, increased by 371 GWh or 2.0%, totaling 18,535 GWh, thanks to growth recorded in Brazil, Chile, Colombia, and Peru. Similarly the customer base rose by 409,000, totaling more than 14 million customers in the region. This improved performance partially offset the lower energy sales registered in the generation activity, which decreased by 443 GWh or 2.8%, totaling 15,639.7 GWh.

In this period, revenues stood at $1,456,669 million, representing a 10.4% decrease, as a result of lower revenues from energy sales in the distribution segment due to lower tariffs at Coelce and Chilectra. On the other hand, demand, on a country basis,  showed a certain degree of lower growth than expected, having been influenced, among other reasons, by less calendar days, more holidays, and more stable temperatures. These reasons being all non-recurring items.

The costs of sourcing and services showed a 12.4% reduction, amounting to $804,869 million, due to $31,546 million lower energy purchase costs, $26,191 million in lower transport costs, and $16,680 million of lower fuel consumption. This decrease was mainly explained by the start-up of the Bocamina II power plant which took place in late October of 2012.

EBITDA contribution by activities were kept balanced with generation and transmission contributing with a 54% whereas distribution with 46%. EBITDA stood at $434,041 million, representing a 11.5% decrease.

 
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