“The ratings granted reflect the solid financial position of ENGIE Energía Perú, which is supported by the adequate level of capitalization, the diversification of its energy sources and the generation of energy at low operating costs, as well as the support, in terms of know-how, of its main shareholder, ENGIE, one of the main groups in the energy sector in the world”, states the report of Apoyo & Asociados Internacionales.
Moody’s Local and Apoyo & Asociados Internacionales maintained the “AAA Category” to ENGIE Energía Perú for the Third and Sixth Issue of the First Corporate Bond Program, the Third Corporate Bond Program, as well as the “Category 1a” for its Common Shares, with a “Stable” outlook for the company.
The AAA Category corresponds to the highest capacity to pay its financial obligations within the agreed terms and conditions. “ENGIE Energía Perú’s capacity is not significantly vulnerable to adverse changes in circumstances or the economic environment”, the reports state. Also, the “Category 1a” indicates that the company’s shares present a very good combination of solvency and stability in the issuer’s profitability.
Last April, ENGIE Energía Perú published its financial results corresponding to the first quarter of 2023, registering net sales -corresponding to that period- of US$140.3 million, higher by 16% compared to the same period of 2022 (US$121.1 million).
Likewise, the company’s EBITDA amounted to US$56.3 million, representing an increase of 13% with respect to the same period of 2022 (US$49.7 million). Net income amounted to US$21.2 million, representing a 5% decrease with respect to the same period of 2022 (US$22.3 million).
Similarly, the company reported that its main project under construction, the Punta Lomitas Wind Power Plant (Ica), completed the assembly of the 57 wind turbines that make up the wind farm (including its expansion) with which it expects to reach a total capacity of 296.4 MW of renewable energy.