Colbún reports EBITDA of US$152.5 million in the second quarter of 2024

This is a machine translation of the original release issued in Spanish.

PRESS RELEASE from Colbún
July 31, 2024

Colbún SA today reported its results for the second quarter of 2024 (2Q24). In the period, the Company reported an EBITDA (earnings before interest, taxes, depreciation and amortization) of US$152.5 million, which represents an increase of 13% compared to the second quarter of 2023. This increase is mainly due at a lower average supply cost associated with an improvement in water conditions in Chile, which allowed less generation based on fossil fuels, lower expenses in energy and power purchases in Peru -thanks to the greater availability of the Fénix Central- , and lower energy and power purchase costs in Chile, due to a decrease in tariff revenue payments and power purchases.

Regarding Colbún's profits, they totaled US$61.5 million in the second quarter, which represents a 53% drop compared to the US$131.2 million obtained in the same period last year. The decrease is explained practically in its entirety by a non-operating income of the previous period of US$116.4 million as a result of the final price adjustment for the sale of Colbún Transmission SA

In accumulated terms, EBITDA for the first half of the year reached US$299.9 million, a figure 8% lower than the same period last year, while final profits totaled US$120.3 million in the January-June 2024 period, compared to the US$223.1 million registered during the same period in 2023

Highlights of the quarter

Among Colbún's milestones in the second quarter of the year, the entry into the Environmental Impact Assessment System (SEIA) of the Paposo Pumping Central project, located in the Antofagasta Region, stands out. This project has a capacity of 800 MW and uses a closed circuit of desalinated water recirculation for the storage of renewable energy.

Additionally, in June the company entered into a Purchase and Sale Agreement for the acquisition of the San Juan Wind Farm (193 MW of installed capacity, commune of Freirina, Atacama Region) and the Totoral Wind Farm (46 MW of installed capacity, commune of Canela, Coquimbo Region). This purchase will allow the company to continue strengthening its presence in the north of the country, an area in which it already operates the Diego de Almagro Sur photovoltaic and battery park in the Atacama Region and where it is carrying out the final stage of construction of the Horizonte Wind Farm. in the Antofagasta Region.

"These milestones reflect the efforts of our entire team to advance key projects that ensure the sustainability and growth of Colbún. We remain committed to offering a solid return to our shareholders while leading the energy transition in the region," commented José Ignacio Escobar, CEO of Colbún .

About Colbún SA

Colbún SA is a company with 37 years of experience dedicated to the generation and commercialization of energy, which has a portfolio of more than 350 industrial clients and companies, nearly 1,100 workers and an installed power of more than 4,000 MW through 27 plants. of generation in Chile and Peru. The company is driving a strong program of solar and wind renewable energy projects to support its growth, as well as green hydrogen and water treatment initiatives. In addition, it is a relevant player in the energy solutions market through Colbún Soluciones, where it offers solar plants for clients, energy management systems and infrastructure for electromobility, among other services.