New Risk • May 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. New Risk • May 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (128% cash payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Declared Dividend • May 03
Final dividend of US$0.0019 announced Shareholders will receive a dividend of US$0.0019. Ex-date: 15th May 2026 Payment date: 20th May 2026 Dividend yield will be 1.0%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (128% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (128% cash payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Announcement • Apr 16
Enel Américas S.A. to Report Q1, 2026 Results on Apr 30, 2026 Enel Américas S.A. announced that they will report Q1, 2026 results on Apr 30, 2026 New Risk • Apr 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (128% cash payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Board Change • Mar 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.3% average weekly change). Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: US$0.002 (vs US$0.003 in 3Q 2024) Third quarter 2025 results: EPS: US$0.002 (down from US$0.003 in 3Q 2024). Revenue: US$3.65b (up 1.4% from 3Q 2024). Net income: US$209.3m (down 28% from 3Q 2024). Profit margin: 5.7% (down from 8.0% in 3Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Oct 25
Enel Américas S.A. to Report Q3, 2025 Results on Oct 30, 2025 Enel Américas S.A. announced that they will report Q3, 2025 results on Oct 30, 2025 Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: US$0.002 (vs US$0.001 in 2Q 2024) Second quarter 2025 results: EPS: US$0.002 (up from US$0.001 in 2Q 2024). Revenue: US$3.49b (up 4.9% from 2Q 2024). Net income: US$186.9m (up 219% from 2Q 2024). Profit margin: 5.4% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 155% Minor Risk Share price has been volatile over the past 3 months (5.0% average weekly change). Board Change • Jun 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • May 03
Dividend of US$0.0038 announced Shareholders will receive a dividend of US$0.0038. Ex-date: 26th May 2025 Payment date: 29th May 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (155% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.3% to bring the payout ratio under control. EPS is expected to grow by 42% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: US$0.002 (vs US$0.002 in 1Q 2024) First quarter 2025 results: EPS: US$0.002 (in line with 1Q 2024). Revenue: US$3.28b (up 2.3% from 1Q 2024). Net income: US$239.7m (up 4.7% from 1Q 2024). Profit margin: 7.3% (up from 7.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Electric Utilities industry in South America. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 23
Enel Américas S.A. to Report Q1, 2025 Results on Apr 30, 2025 Enel Américas S.A. announced that they will report Q1, 2025 results on Apr 30, 2025 Board Change • Apr 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Iris Boeninger was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 355% Dividend yield: 7.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (355% cash payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Declared Dividend • Nov 25
Dividend of US$0.0034 announced Shareholders will receive a dividend of US$0.0034. Ex-date: 27th January 2025 Payment date: 31st January 2025 Dividend yield will be 1.3%, which is lower than the industry average of 4.3%. Payout Ratios Payout ratio: 47%. Cash payout ratio: 136%. New Risk • Nov 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 4.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (4.1% average weekly change). New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: US$0.003 (vs US$0.002 in 3Q 2023) Third quarter 2024 results: EPS: US$0.003 (up from US$0.002 in 3Q 2023). Revenue: US$3.60b (up 4.8% from 3Q 2023). Net income: US$290.0m (up 31% from 3Q 2023). Profit margin: 8.0% (up from 6.5% in 3Q 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Electric Utilities industry in South America. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Oct 11
Enel Américas S.A. to Report Q3, 2024 Results on Oct 25, 2024 Enel Américas S.A. announced that they will report Q3, 2024 results After-Market on Oct 25, 2024 New Risk • Sep 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Colombian stocks, typically moving 5.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 27
Second quarter 2024 earnings released: EPS: US$0.001 (vs US$0 in 2Q 2023) Second quarter 2024 results: EPS: US$0.001 (up from US$0 in 2Q 2023). Revenue: US$3.38b (up 7.2% from 2Q 2023). Net income: US$58.6m (up 32% from 2Q 2023). Profit margin: 1.7% (up from 1.4% in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Electric Utilities industry in South America. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Board Change • Jun 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Hernan Somerville Senn was the last independent director to join the board, commencing their role in 1999. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 01
Enel Américas S.A. to Report Q1, 2024 Results on Apr 30, 2024 Enel Américas S.A. announced that they will report Q1, 2024 results After-Market on Apr 30, 2024 Announcement • Feb 29
Enel Américas S.A. to Report Q4, 2023 Results on Feb 29, 2024 Enel Américas S.A. announced that they will report Q4, 2023 results After-Market on Feb 29, 2024 Announcement • Feb 16
Enel Américas S.A. to Report Q4, 2022 Results on Feb 27, 2023 Enel Américas S.A. announced that they will report Q4, 2022 results After-Market on Feb 27, 2023 Reported Earnings • May 07
First quarter 2022 earnings released: EPS: US$0.003 (vs US$0.002 in 1Q 2021) First quarter 2022 results: EPS: US$0.003 (up from US$0.002 in 1Q 2021). Revenue: US$3.79b (up 20% from 1Q 2021). Net income: US$365.9m (up 100% from 1Q 2021). Profit margin: 9.6% (up from 5.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.8% compared to a 8.9% decline forecast for the industry in Colombia. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Patricio Gomez-Sabaini C. was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 12
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 8.2%. The fair value is estimated to be Col$562, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 33%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$0.007 (down from US$0.011 in FY 2020). Revenue: US$16.2b (up 34% from FY 2020). Net income: US$741.0m (down 10% from FY 2020). Profit margin: 4.6% (down from 6.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to stay flat compared to a 6.0% decline forecast for the industry in Colombia. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 20% share price gain to Col$526, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Electric Utilities industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Col$592 per share. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS US$0.002 (vs US$0.002 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: US$4.86b (up 72% from 3Q 2020). Net income: US$263.8m (up 39% from 3Q 2020). Profit margin: 5.4% (down from 6.7% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS US$0.002 (vs US$0.001 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$3.43b (up 39% from 2Q 2020). Net income: US$175.1m (up 96% from 2Q 2020). Profit margin: 5.1% (up from 3.6% in 2Q 2020). The increase in margin was driven by higher revenue.