Information by Segment | 35. INFORMATION BY SEGMENT 35.1 Basis of segmentation The Group’s activities operate under a matrix management structure with dual and cross management responsibilities (based on businesses), and its subsidiaries are engaged in either the Generation Business or the Distribution Business. The Group adopted a “bottom-up” approach to determine its reportable segments. The Generation and the Distribution reportable segments have been defined based on IFRS 8.9 and on the criteria described in IFRS 8.12. Generation Business: The Generation Reportable Segment is comprised of a group of electricity companies that own electricity generating plants, whose energy is transmitted and distributed to end customers. The generation business is conducted in Chile by our subsidiaries Enel Generación Chile S.A., Empresa Eléctrica Pehuenche S.A. and our group engaged in the development and exploitation of renewable energies with wind energy subsidiaries: Parque Eólico Tal Tal S.p.A., Parque Eólico Valle de los Vientos S.p.A. and Parque Talinay Oriente S.A., geothermal subsidiaries: Geotérmica del Norte S.A. and Empresa Nacional de Geotermia S.A., wind and solar energy subsidiaries Enel Green Power del Sur SpA, and the subsidiary Empresa Eléctrica Panguipulli S.A. engaged in hydroelectric, solar and wind generation. The remainder are engaged in diverse projects: Diego de Almagro Matriz SpA, Almeyda Solar SpA. Distribution Business: The Distribution Reportable Segment is comprised of a group of electricity companies operating under a public utility concession, with service obligations and regulated tariffs for supplying regulated customers. Each of the operating segments generates separate financial information, which is aggregated into one combined set of information for the Generation Business, and another set of combined information for the Distribution Business at the reportable segment level. In addition, in order to assist the decision maker process, the Planning & Control Department at the Parent Company level prepares internal reports containing combined information at the reportable segment level about the main key performance indicators (KPIs), such as: EBITDA, Gross Margin, Total Capex, Total Opex, Net income, Total Energy Generation, among others. The presentation of information under this business approach has been made taking into consideration that the KPIs are similar and comparable in all segments, in each of the following aspects: (a) The nature of the activities: generation on one hand, and distribution on the other; (b) The nature of the production processes: the Generation Business deals with the generation of electricity, while the Distribution Business does not generate electricity, but distributes electricity to end customers; (c) The type or class of customer for their products and services: the Generation Business provides services mainly to unregulated customers, while the Distribution Business provides energy to regulated customers; (d) The methods used to distribute their products or provide their services: generators generally sell the energy through energy auctions, while distributors provide energy in their concession area; and (e) The nature of the regulatory environment (public utilities): the regulatory frameworks differs in the Generation Business and Distribution Business The Company’s chief operating decision maker (CODM) in conjunction with the Chile country manager reviews on a monthly basis these internal reports and uses the KPI information to make decisions on the allocation of resources and the assessment of the performance of the operating segments for each reportable segment. The information disclosed in the following tables is based on the financial information of the companies forming each segment. The accounting policies used to determine the segment information are the same as those used in the preparation of the Group’s consolidated financial statements. 35.2 Generation, distribution and others Generation Distribution Holdings, eliminations and others Total 12-31-2019 12-31-2018 12-31-2019 12-31-2018 12-31-2019 12-31-2018 12-31-2019 12-31-2018 Line of Business ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ASSETS CURRENT ASSETS 941,262,837 997,843,912 289,393,932 296,453,471 (212,444,109) (297,349,611) 1,018,212,660 996,947,772 Cash and cash equivalents 26,391,853 155,591,949 2,331,365 4,969,412 206,961,282 84,610,563 235,684,500 245,171,924 Other current financial assets 489,658 39,507,485 64,220 62,226 756,717 733,462 1,310,595 40,303,173 Other current non-financial assets 8,908,239 14,074,044 8,868,077 5,648,807 16,858,247 2,683,237 34,634,563 22,406,088 Trade and other current receivables 230,670,997 254,374,451 260,840,410 218,310,327 19,943,923 5,485,289 511,455,330 478,170,067 Current accounts receivable from related companies 587,067,775 422,492,265 10,115,510 59,827,152 (529,001,152) (428,148,357) 68,182,133 54,171,060 Inventories 34,705,515 48,221,915 3,150,943 3,528,174 1,815,792 5,211,554 39,672,250 56,961,643 Current tax assets 53,028,800 63,581,803 4,023,407 4,107,373 70,221,082 32,074,641 127,273,289 99,763,817 Non-current assets classified as held for sale — — — — — — — — NON-CURRENT ASSETS 4,771,905,050 4,625,205,545 1,175,550,962 982,926,699 892,319,492 882,940,148 6,839,775,504 6,491,072,392 Other non-current financial assets 7,189,431 6,554,114 22,741 26,410 8,448 689,145 7,220,620 7,269,669 Other non-current non-financial assets 34,903,436 42,006,844 2,576,585 2,600,071 570,163 1,097 38,050,184 44,608,012 Trade and other non-current receivables 88,225,632 1,565,812 157,051,933 41,993,899 68,296,820 16,968,132 313,574,385 60,527,843 Non-Current accounts payable from related companies 80,926,788 — — — (46,519,646) — 34,407,142 — Investments accounted for using the equity method 7,928,588 12,873,531 — — — — 7,928,588 12,873,531 Intangible assets other than goodwill 76,077,944 68,776,401 51,360,795 41,963,796 4,839,854 4,632,196 132,278,593 115,372,393 Goodwill 33,135,272 32,500,603 2,240,478 2,240,478 881,977,224 880,303,644 917,352,974 915,044,725 Property, plant and equipment 4,422,575,593 4,442,872,809 961,392,557 893,246,804 (23,648,526) (27,471,980) 5,360,319,624 5,308,647,633 Investment property — — — — 6,795,155 7,557,356 6,795,155 7,557,356 Deferred tax assets 20,942,366 18,055,431 905,873 855,241 — 260,558 21,848,239 19,171,230 TOTAL ASSETS 5,713,167,887 5,623,049,457 1,464,944,894 1,279,380,170 679,875,383 585,590,537 7,857,988,164 7,488,020,164 Generation Distribution Holdings, eliminations and others Total 12-31-2019 12-31-2018 12-31-2019 12-31-2018 12-31-2019 12-31-2018 12-31-2019 12-31-2018 Line of Business ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ LIABILITIES AND EQUITY CURRENT LIABILITIES 844,513,549 909,428,562 317,248,207 450,182,594 (120,461,904) (142,147,004) 1,041,299,852 1,217,464,152 Other current financial liabilities 211,928,086 196,141,320 738,783 2 1,989,707 214,524,493 214,656,576 410,665,815 Trade and other current payables 300,957,548 317,337,886 200,472,938 156,939,551 97,832,722 80,008,887 599,263,208 554,286,324 Current accounts payable to related companies 296,861,070 337,986,306 87,507,312 258,410,862 (224,558,495) (438,460,843) 159,809,887 157,936,325 Other current provisions 3,619,734 5,195,377 — — 446,231 393,409 4,065,965 5,588,786 Current tax liabilities 17,717,789 12,563,801 34,718 5,114,119 243,326 — 17,995,833 17,677,920 Other current non-financial liabilities 13,429,322 40,203,872 28,494,456 29,718,060 3,584,605 1,387,050 45,508,383 71,308,982 NON-CURRENT LIABILITIES 1,899,077,568 1,846,575,202 301,769,861 63,065,351 868,557,231 686,751,678 3,069,404,660 2,596,392,231 Other non-current financial liabilities 998,974,951 1,028,833,254 2,993,326 — 738,201,642 677,000,249 1,740,169,919 1,705,833,503 Trade and other non-current payables 2,281,053 2,556,521 53,968,545 27,172 487 487 56,250,085 2,584,180 Non-current accounts payable to related companies 486,839,484 447,193,802 182,031,404 — 115,502,596 — 784,373,484 447,193,802 Other long-term provisions 160,006,401 91,898,262 11,853,881 13,973,113 — — 171,860,282 105,871,375 Deferred tax liabilities 231,156,234 260,950,163 19,818,625 21,335,014 (1,690,218) (4,205,123) 249,284,641 278,080,054 Non-current provisions for employee benefits 19,819,445 15,143,200 29,801,321 27,503,399 16,542,724 13,956,065 66,163,490 56,602,664 Other non-current non-financial liabilities — — 1,302,759 226,653 — — 1,302,759 226,653 EQUITY 2,969,576,770 2,867,045,693 845,926,826 766,132,225 (68,219,944) 40,985,863 3,747,283,652 3,674,163,781 Equity attributable to Enel Chile 2,969,576,770 2,867,045,693 845,926,826 766,132,225 (68,219,944) 40,985,863 3,484,697,986 3,421,228,519 Issued capital 1,185,731,351 1,137,185,366 230,137,980 230,137,980 2,466,234,139 2,587,168,133 3,882,103,470 3,954,491,479 Retained earnings 1,735,720,458 1,626,928,911 933,560,288 852,296,368 (661,177,095) (564,427,666) 2,008,103,651 1,914,797,613 Share Premium 85,511,492 85,511,492 354,220 354,220 (85,865,712) (85,865,712) — — Treasury shares — — — — — (72,388,009) — (72,388,009) Other reserves (37,386,531) 17,419,924 (318,125,662) (316,656,343) (1,787,411,276) (1,823,500,883) (2,405,509,135) (2,375,672,564) Non-controlling interests — — — — — — 262,585,666 252,935,262 Total Liabilities and Equity 5,713,167,887 5,623,049,457 1,464,944,894 1,279,380,170 679,875,383 585,590,537 7,857,988,164 7,488,020,164 Generation Distribution Holdings, eliminations and others Total 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 Line of Business ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ STATEMENT OF COMPREHENSIVE INCOME REVENUES AND OTHER OPERATING INCOME 1,726,611,508 1,580,653,088 1,634,937,087 1,412,871,738 1,263,224,072 1,326,658,860 (368,648,886) (386,715,734) (438,617,665) 2,770,834,360 2,457,161,426 2,522,978,282 Revenues 1,581,230,963 1,540,352,133 1,599,032,140 1,408,588,042 1,254,943,604 1,322,422,609 (365,242,682) (384,935,278) (437,353,167) 2,624,576,323 2,410,360,459 2,484,101,582 Energy sales 1,472,565,933 1,425,942,129 1,457,671,722 1,318,386,716 1,170,129,333 1,180,426,814 (385,049,407) (393,993,374) (376,007,978) 2,405,903,242 2,202,078,088 2,262,090,558 Other sales 97,870,470 103,779,801 94,452,287 9,365,186 16,411,425 12,741,568 16,878,136 3,154,157 168,942 124,113,792 123,345,383 107,362,797 Other services rendered 10,794,560 10,630,203 46,908,131 80,836,140 68,402,846 129,254,227 2,928,589 5,903,939 (61,514,131) 94,559,289 84,936,988 114,648,227 Other operating income 145,380,545 40,300,955 35,904,947 4,283,696 8,280,468 4,236,251 (3,406,204) (1,780,456) (1,264,498) 146,258,037 46,800,967 38,876,700 RAW MATERIALS AND CONSUMABLES USED (678,187,609) (709,506,221) (903,978,006) (1,114,936,281) (972,499,918) (1,055,708,050) 371,918,639 389,829,023 444,899,135 (1,421,205,251) (1,292,177,116) (1,514,786,921) Energy purchases (160,044,206) (213,114,437) (346,954,692) (1,056,562,636) (926,385,346) (938,067,783) 381,322,099 391,853,181 382,587,604 (835,284,743) (747,646,602) (902,434,871) Fuel consumption (230,944,414) (231,028,169) (280,739,362) — — — — — — (230,944,414) (231,028,169) (280,739,362) Transportation expenses (169,062,680) (154,044,158) (152,869,838) (22,725,942) (9,816,883) (63,009,956) (5,060,166) (3,014,761) 60,000,545 (196,848,788) (166,875,802) (155,879,249) Other miscellaneous supplies and services (118,136,309) (111,319,457) (123,414,114) (35,647,703) (36,297,689) (54,630,311) (4,343,294) 990,603 2,310,986 (158,127,306) (146,626,543) (175,733,439) CONTRIBUTION MARGIN 1,048,423,899 871,146,867 730,959,081 297,935,457 290,724,154 270,950,810 3,269,753 3,113,289 6,281,470 1,349,629,109 1,164,984,310 1,008,191,361 Other work performed by the entity and capitalized 8,887,421 8,663,737 7,226,484 8,723,440 6,667,947 6,630,130 — 1,379,279 532,373 17,610,861 16,710,963 14,388,987 Employee benefits expense (62,871,525) (61,991,737) (54,222,470) (34,828,194) (32,598,818) (38,449,551) (31,905,237) (28,539,779) (28,831,756) (129,604,956) (123,130,334) (121,503,777) Other expenses (120,522,841) (104,190,567) (102,821,020) (70,678,241) (64,179,201) (61,942,592) 7,057,942 1,159,747 2,939,538 (184,143,140) (167,210,021) (161,824,074) GROSS OPERATING INCOME 873,916,954 713,628,300 581,142,075 201,152,462 200,614,082 177,188,797 (21,577,542) (22,887,464) (19,078,375) 1,053,491,874 891,354,918 739,252,497 Depreciation and amortization expense (196,623,025) (179,901,682) (117,337,553) (40,705,580) (36,677,957) (36,685,324) 701,218 1,392,339 1,338,771 (236,627,387) (215,187,300) (152,684,106) Impairment losses (reversal of impairment losses) recognized in profit or loss (280,020,263) — — — — — (742,389) (779,825) — (280,762,652) (779,825) — Impairment gains and reversals of impairment losses (Impairment losses) determined in accordance with IFRS 9. (1,338,599) (106,264) 55,494 (8,153,419) (4,676,808) (7,993,311) (554,982) — — (10,047,000) (4,783,072) (7,937,817) OPERATING INCOME 395,935,067 533,620,354 463,860,016 152,293,463 159,259,317 132,510,162 (22,173,695) (22,274,950) (17,739,604) 526,054,835 670,604,721 578,630,574 FINANCIAL RESULT (101,324,905) (86,621,659) (36,610,248) 5,232,127 6,088,801 6,411,837 (54,800,225) (30,342,206) 7,783,757 (150,893,003) (110,875,064) (22,414,654) Financial income 15,241,046 8,727,356 5,273,672 22,742,687 11,166,433 12,894,635 (10,584,458) 40,679 3,494,381 27,399,275 19,934,468 21,662,688 Cash and cash equivalents 3,556,554 5,673,621 3,077,708 1,456,253 1,633,373 1,975,564 3,960,799 2,305,581 3,323,751 8,973,606 9,612,575 8,377,023 Other financial income 11,684,492 3,053,735 2,195,964 21,286,434 9,533,060 10,919,071 (14,545,257) (2,264,902) 170,630 18,425,669 10,321,893 13,285,665 Financial costs (111,219,566) (82,878,715) (50,851,829) (19,061,123) (6,724,490) (7,094,366) (34,617,211) (32,580,984) 4,435,313 (164,897,900) (122,184,189) (53,510,882) Bank borrowings (11,813,855) (9,269,535) (261) (40,508) (5,374) (12,299) (2,633,337) (11,426,865) (25) (14,487,700) (20,701,774) (12,585) Secured and unsecured obligations (45,714,879) (43,965,839) (42,708,253) — — — (36,103,685) (18,289,461) — (81,818,564) (62,255,300) (42,708,253) Other (53,690,832) (29,643,341) (8,143,315) (19,020,615) (6,719,116) (7,082,067) 4,119,811 (2,864,658) 4,435,338 (68,591,636) (39,227,115) (10,790,044) Profit (loss) from indexed assets and liabilities (5,157,076) (2,480,291) 145,608 1,843,435 1,616,607 761,262 331,373 45,538 9,796 (2,982,268) (818,146) 916,666 Foreign currency exchange differences (189,309) (9,990,009) 8,822,301 (292,872) 30,251 (149,694) (9,929,929) 2,152,561 (155,733) (10,412,110) (7,807,197) 8,516,874 Share of profit of associates accounted for using the equity method 366,089 3,190,240 (2,696,904) — — — — — — 366,089 3,190,240 (2,696,904) Other gains (losses) 1,683,246 3,434,503 113,088,869 12 — 157,458 109,943 (24,124) (5,131) 1,793,201 3,410,379 113,241,196 Gain (loss) from other investments 152,557 409,954 105,462,769 12 — 4,026 109,943 (24,124) (5,131) 262,512 385,830 105,461,664 Gain (loss) from the sale of property, plant and equipment 1,530,689 3,024,549 7,626,100 — — 153,432 — — — 1,530,689 3,024,549 7,779,532 Income before tax 296,659,497 453,623,438 537,641,733 157,525,602 165,348,118 139,079,457 (76,863,977) (52,641,280) (9,960,978) 377,321,122 566,330,276 666,760,212 Income tax (40,347,869) (113,783,941) (112,099,519) (38,748,555) (42,967,123) (34,030,322) 17,868,520 3,268,545 2,787,540 (61,227,904) (153,482,519) (143,342,301) Net income from continuing operations 256,311,628 188,153,449 118,777,047 57,935,774 (58,995,457) 649,411 316,093,218 412,847,757 523,417,911 Net income from discontinued operations — — — — — — — — — NET INCOME 256,311,628 339,839,497 425,542,214 118,777,047 122,380,995 105,049,135 (58,995,457) (49,372,735) (7,173,438) 316,093,218 412,847,757 523,417,911 Net income attributable to: 256,311,628 339,839,497 425,542,214 118,777,047 122,380,995 105,049,135 (58,995,457) (49,372,735) (7,173,438) 316,093,218 412,847,757 523,417,911 Shareholders of Enel Chile — — — — — — — — — 296,153,605 361,709,937 349,382,642 Non-controlling interests — — — — — — — — — 19,939,613 51,137,820 174,035,269 Generation Distribution Holdings, eliminations and others Total 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 12-31-2019 12-31-2018 12-31-2017 Line of Business ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ ThCh$ STATEMENT OF CASH FLOWS Cash flows from (used in) operating activities 754,113,794 638,607,494 488,167,382 50,246,845 117,692,384 170,628,958 (60,648,920) (20,774,356) (23,182,620) 743,711,719 735,525,522 635,613,720 Cash flows from (used in) investing activities (426,038,012) (451,284,432) (91,867,647) (28,896,947) (123,070,452) (74,464,531) 143,403,148 (1,307,204,810) 19,866,401 (311,531,811) (1,881,559,694) (146,465,777) Cash flows from (used in) financing activities (453,927,358) (249,051,150) (301,835,211) (23,901,991) (32,268,227) (76,923,085) 37,393,661 1,247,896,253 61,162,775 (440,435,688) 966,576,876 (317,595,521) The holdings, eliminations and other column corresponds to transactions between companies in different lines of business, primarily purchases and sales of energy and services. |