Empresa Nacional de Telecomunicaciones (ENTEL) Q1 2026 earnings summary

Executive summary

• Delivered double-digit growth in net income (+20.7% YoY) and EBITDA (+10.3% YoY), with margin expansion in both Chile and Peru, reaching 28.4% and 26.1% respectively.

• Consolidated revenues rose 7.0% YoY to Ch$775.2 billion, led by mobile service growth in Chile (+4.6%) and Peru (+5.6%), and strong handset sales.

• Maintained disciplined capex and improved cash generation, supporting a strong balance sheet and reduced leverage ratio.

• Fiber internet connections in Chile grew 21.0% YoY, reaching 483,448, offsetting flat fixed revenues.

• Mobile customer base reached 20.25 million, with strong postpaid growth (+7.2% YoY) and prepaid decline (-19.7% YoY).

Financial highlights

• Consolidated revenues: CLP $776 Bn (+7.0% YoY); EBITDA: CLP $213 Bn (+10.3% YoY); Net income: CLP $28 Bn (+20.7% YoY).

• EPS: CLP $92 for 1Q26 (+21.0% YoY); LTM EPS: CLP $650 (+76.5% YoY).

• EBITDA margin expanded to 27.5% from 26.7% YoY; EBIT margin at 8.2% (+1.2pp YoY).

• Free cash flow from operations improved to CLP $39 Bn (5.0% of revenues) from CLP $1 Bn (0.2%) YoY.

• Net financial debt reduced to CLP $1,335.7 Bn; NFD/LTM EBITDA at 2.34x.

Outlook and guidance

• Capex/revenues expected to reach 18.1% in 2026, with a steady state of 16–17% by 2028.

• Announced a Ch$575 billion investment plan for 2026, focusing on mobile leadership, FTTH rollout in Chile, and accelerated growth in Peru.

• Dividend policy targets a yield of 7–8% over time, with a final dividend of Ch$255 per share approved.