UPDATE: Chile Enersis 2010 Net Profit Drops To CLP486.23 Billion
27 Gennaio 2011 - 12:05AM
Dow Jones News
Enersis SA's (ENI, ENERSIS.SN) 2010 net profit dropped 26% to
486.23 billion Chilean pesos ($994.9 million) from CLP660.23
billion the previous year, the Chilean energy holding company
reported Wednesday.
Enersis's profits slipped as reduced hydroelectric generation
forced it to use more expensive thermal generation, and as a
devastating earthquake last February cut into demand in Chile.
However, sales rose 1.4% to CLP6.56 trillion from CLP6.47
trillion in 2009. The increase in sales "highlights strong demand
in the second half of the year" and the likelihood of continued
strong demand in 2011, Enersis said.
Enersis owns power generation, distribution and transmission
businesses in Argentina, Brazil, Chile, Colombia and Peru.
Enersis' Ebitda--or earnings before interest, taxes,
depreciation and amortization--lost 8% in 2010 to CLP2.26 trillion
from CLP2.47 trillion in 2009.
Its generation and transmission businesses represent 57% of
Ebitda, while the distribution business makes up the remainder.
Enersis' shares fell 0.3% on Wednesday to CLP208.61, while the
blue-chip Ipsa index ended 0.2% higher.
Over the last 52 weeks the company's shares have traded at a low
of CLP198.56 and a high of CLP244.36, while decreasing 12.4% over
the same period.
Spain's Endesa SA (ELEZF, ELE.MC) owns Enersis, which in turn
owns Chile's largest power generator, Empresa Nacional de
Electricidad SA (EOC, ENDESA.SN).
-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;
anthony.esposito@dowjones.com