Enel Américas (ENELAM) Corporate presentation summary

At a glance

• 23.2mn customers, 2.8mn smart meters and 107.8 TWh of energy sold in the LTM to June 2026; 12.1 GW capacity, 96% renewable, and 40.8 TWh net production in the LTM.

Strategic plan and capital allocation

• 2026–28 CAPEX of $7.9bn, up 5% vs. the old plan; 86% allocated to Grids, with investments concentrated in Brazil and Colombia.

• Grids CAPEX totals $6.8bn, up 8% vs. the old plan; focus on network quality, resilience, reliability and returns under constructive regulatory frameworks.

• Grids RAB is projected to rise 22%, from $12.7bn in 2025 to $15.5bn in 2028.

• Integrated-business CAPEX of $1.1bn supports selective renewable additions of 0.5 GW, including 0.4 GW solar in Colombia and 0.1 GW in Central America.

• Strategy emphasizes productivity, capital allocation discipline, lower business volatility and predictable earnings while preserving a low-risk profile.

Operating and financial targets

• 2028 EBITDA target of $5.1–5.3bn, up 22% vs. 2025; Grids remains the main contributor, with increased renewable contribution from Colombia and Central America.

• EBITDA target implies 7% CAGR over 2025–28; 2026 target is $4.8–5.0bn. Net income targets are $1.1–1.3bn in 2026 and $1.2–1.4bn in 2028, with 11% 2025–28 CAGR.

• Dividend policy is 30% of net income for the plan period.

• Plan-period FFO of $9.9bn is set against $7.9bn CAPEX; net debt/EBITDA is projected at 0.9x in 2028, from 1.1x in 2025.