ENGIE Energía Perú, one of the largest power generation companies in the country, published its financial results for the second quarter of 2023. In the second quarter, the company’s net income amounted to US$29.8 million, representing an increase of 95% compared to the same period of the previous year (US$15.3 million). EBITDA amounted to US$62.9 million, representing an increase of 26% over the same period of 2022 (US$49.9 million).
Likewise, net sales for the second quarter (2Q23) were US$164.4 million, 29% higher than the same period of 2022 (US$127.4 million), mainly due to higher customer demand and higher generation.
At the end of the first half, EBITDA totaled US$119.2 million, up 20% compared to the same period of 2022 (US$99.5 million), while net income was US$51.0 million, up 36% compared to 2022 (US$37.6 million). The EBITDA margin, at 39%, was slightly lower than in the same period of 2022 (40%).
During this period, the company reported that the Punta Lomitas Wind Power Plant located in Ocucaje, Ica, started commercial operation on June 16 after receiving approval from the Economic Operation Committee of the National Interconnected System (COES).
As of June 30, 2023, the company’s energy production amounted to 3,937 GWh, representing an increase of 52.3% compared to the same period of the previous year (2,584 GWh) mainly due to higher thermal generation and the generation of the Punta Lomitas Wind Power Plant.
As of June 2023, ENGIE signed a new contract with Hudbay mining company for a total of 100MW, to start in 2026. It also signed 5 addenda for a total of 8.17MW.
In addition, ENGIE Energía Perú maintained the risk rating of its debt instruments (Corporate Bonds) of AAA and the common shares of 1ª.pe, issued by Apoyo & Asociados Internacionales and Moody’s Local PE Risk Rating Agency. This category corresponds to the highest level of solvency, stability and payment capacity.
For the sixth consecutive year, the company was recognized by the Merco Talento 2023 Ranking as the best company in the energy sector in Peru for attracting and retaining talent, placing it in the overall Top50, ranking 49th (up 5 positions with respect to 2022).
Finally, ENGIE received the “EDGE Assess” certification for promoting gender equity. The certificate is awarded by the EDGE Certified Foundation, a leading international organization in the certification of labor practices in diversity, equity and inclusion, with a special focus on gender equity and intersectionality.