Enel Américas (ENELAM) investor relations material

Executive summary

• Q3 revenue rose 26.3% YoY to $4,614M, EBITDA increased 37.7% to $1,417M, and attributable net income rose 86.4% to $390M.

• Through September, revenue increased 22.3% to $12,766M, EBITDA 23.8% to $3,845M, and attributable net income 40.6% to $902M.

• Full-year 2026 EBITDA and net income guidance was reaffirmed.

Financial highlights

• Q3 EBIT increased 70.0% YoY to $1,087M; 9M EBIT rose 39.0% to $2,711M.

• FX added $179M to Q3 EBITDA and $420M to 9M EBITDA; excluding FX, EBITDA growth was 20% and 10%, respectively.

• 9M operating cash flow rose 74.4% to $2,154M; investing and financing cash flows were outflows of $1,868M and $1,055M, respectively.

• 9M free cash flow was negative $10M versus positive $340M in 9M 2025, reflecting $1,633M CAPEX and working-capital, tax, and financing outflows.

Outlook and guidance

• Full-year 2026 EBITDA and net income guidance targets were confirmed; year-to-date results were in line with expectations, with no identified reason for material revisions.

• Argentina’s October 13 energy-sector law addresses regulatory assets tied to frozen tariffs and CAMMESA debt; administrative procedures to determine balances were ongoing.

• Colombia’s CREG activated preventive measures for the 2026–2027 El Niño period, including minimum thermal generation and reservoir safeguards.