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Investments Accounted for Using the Equity Method
12 Months Ended
Dec. 31, 2022
INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD.  
Investments Accounted for Using the Equity Method

13.   INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

13.1. Investments accounted for using the equity method

The detail of the Group’s investees accounted for using the equity method and the movements for the years ended December 31, 2022 and 2021:

Share of

Foreign

Other

Other

Balance as

Balance as

Balance as of

Profit

Dividends

Currency

Comprehensive

Increase

of

Negative

of

Taxpayer ID

Ownership

1-1-2021

Additions

(Loss)

Declared

Translation

Income

(Decrease)

12-31-2022

Equity

12-31-2022

Number

    

Associates and Joint Ventures

    

Relationship

    

Country

    

Currency

    

Percentage

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

Provision

    

ThCh$

76.418.940-K

GNL Chile S.A.

Associate

Chile

U.S. dollar

33.33%

5,706,636

6,846,528

(149,017)

12,404,147

12,404,147

76.014.570-K

Enel Argentina S.A.

Associate

Argentina

Argentine Peso

0.08%

387,135

(22,337)

(42,758)

(144,639)

210,927

388,328

388,328

76.364.085-K

Energías Marina SpA

Associate

Chile

Chilean Peso

25.00%

16,493

(59,317)

(42,824)

42,824

77.157.779-2

Enel X AMPCI Ebus Chile SpA

Associate

Chile

U.S. dollar

20.00%

3,828,885

(29,621)

(384,087)

(67,686)

1,033,236

(4,380,727)

77.374.847-0

HIF H2 SpA (1)

Joint venture

Chile

U.S. dollar

50.00%

1,277

2,744,259

(2,750,793)

146

(5,111)

5,111

77.230.801-9

Sociedad de Inversiones K Cuatro SpA (2)

Joint venture

Chile

Chilean Peso

50.00%

29,352,972

(266,328)

(29,086,644)

77.371.406-1

Suministradora de Buses K Cuatro SPA (2)

Joint venture

Chile

Chilean Peso

0.50%

296,809

(3,259)

(293,550)

77.569.067-4

Enel X Way Chile S.p.A.

Associate

Chile

Chilean Peso

49.00%

6,196,475

(433,632)

9,949

(812,489)

4,960,303

4,960,303

TOTAL

9,923,933

38,607,008

3,281,241

(426,845)

(361,196)

1,043,185

(34,362,483)

17,704,843

47,935

17,752,778

Share of

Foreign

Other

Other

Balance as

Negative

Balance as

Balance as of

Profit

Dividends

Currency

Comprehensive

Increase

of

Equity

of

Taxpayer ID

Ownership

1-1-2020

Additions

(Loss)

Declared

Translation

Income

(Decrease)

12-31-2021

Provision

12-31-2021

Number

    

Associates and Joint Ventures

    

Relationship

    

Country

    

Currency

    

'Percentage

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

76.418.940-K

GNL Chile S.A.

Associate

Chile

U.S. dollar

33.33%

1,729,383

3,620,701

(381,860)

738,412

5,706,636

5,706,636

77.017.930-0

Transmisora Eléctrica de Quillota Ltda. (3)

Joint venture

Chile

Chilean Peso

0.00%

7,451,193

(292,529)

(5,360,886)

(1,797,778)

76.014.570-K

Enel Argentina S.A.

Associate

Argentina

Argentine Peso

0.08%

370,563

(108,016)

(66,360)

(5,706)

196,654

387,135

387,135

76.364.085-K

Energías Marina SpA

Associate

Chile

Chilean Peso

25.00%

57,357

(62,484)

(5,127)

5,127

77.157.779-2

Enel X AMPCI Ebus Chile SpA

Associate

Chile

U.S. dollar

20.00%

3,441,664

19,737

(670,700)

678,387

359,797

3,828,885

3,828,885

77.374.847-0

HIF H2 SpA (1)

Joint venture

Chile

U.S. dollar

50.00%

1,277

1,277

1,277

TOTAL

12,992,803

58,634

3,177,409

(6,479,806)

1,411,093

359,797

(1,601,124)

9,918,806

5,127

9,923,933

(1)See Note 13.3.a).
(2)See Note 13.3.b).
(3)See Note 13.3.c).

13.2. Additional financial information on investments in associates

Financial information as of December 31, 2022 and 2021 of the main companies in which the Group exercises significant influence is detailed below:

As of December 31, 2022

Direct / Indirect

Current Assets

Non-current
Assets

Current Liabilities

Non-current
Liabilities

Revenues

Profit (Loss)

Other
Comprehensive
Income

Comprehensive
Income

Investments with Significant Influence

    

Ownership %

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

GNL Chile S.A.

33.33%

168,628,712

1,732,116,130

258,607,318

1,604,925,084

1,342,760,054

20,539,585

(447,055)

20,092,530

Enel X AMPCI Ebus Chile SpA

20.00%

(148,103)

4,827,752

4,679,649

Enel X Way Chile S.p.A.

49.00%

15,891,445

2,214,410

7,578,722

404,066

4,239,501

(884,964)

20,305

(864,659)

As of December 31, 2021

Direct / Indirect

Current Assets

Non-current
Assets

Current Liabilities

Non-current
Liabilities

Revenues

Profit (Loss)

Other
Comprehensive
Income

Comprehensive
Income

Investments with Significant Influence

    

Ownership %

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

GNL Chile S.A.

33.33%

135,535,995

1,551,052,079

204,485,491

1,464,982,676

1,025,300,274

10,862,103

2,215,243

13,077,346

Enel X AMPCI Ebus Chile SpA

20.00%

15,011,284

105,903,882

13,781,434

87,989,309

98,684

5,190,928

5,289,612

None of the Company’s associates have issued price quotations.

13.3. Joint ventures

The detail of the Group’s statements of financial position and statements of income of joint ventures for the years ended December 31, 2022 and 2021, are as follows:  

a)HIF H2 SpA.:

HIF H2 SpA

% Ownership

50.0%

50.0%

    

12-31-2022

    

12-31-2021

ThCh$

ThCh$

Total current assets

2,556

4,008,576

Total current liabilities

12,779

Total non-current liabilities

4,006,021

Cash and cash equivalents

2,556

2,555

Other fixed operating expenses

(5,501,586)

Profit (Loss)

(5,501,586)

Comprehensive income

(5,501,586)

b)Sociedad de Inversiones K Cuatro SpA.:

Sociedad de Inversiones

K Cuatro SpA

% Ownership

    

50.0%

06-12-2022

ThCh$

Total current assets

237,410

Total non-current assets

59,474,494

Total current liabilities

1,927

Total non-current liabilities

886,326

Cash and cash equivalents

1,557

Other fixed operating expenses

(600,822)

Financial costs

(129)

Foreign exchange gains (losses)

58,279

Income per adjustment units

3,497

Profit (loss)

(539,175)

Comprehensive income

(539,175)

On October 28, 2021, Enel X Chile purchased a 10% interest in Sociedad de Inversiones K Cuatro SpA for ThCh$31,632. Before February 28, 2022, this interest was conditioned upon the long-term financial asset, because the Group did not have significant influence over the company. Then, on February 28, 2022, Enel X Chile increased its interest in Sociedad de Inversiones K Cuatro SpA to 50%, through the acquisition of 400 shares for a total of ThCh$259,393, thus meeting the conditions to be classified as a joint venture (see Note 2.6).

Sociedad de Inversiones K Cuatro SpA was awarded the public bid for the complementary bus supply service for the Public Transportation System of the Province of Santiago and the communities of San Bernardo and Puente Alto. Therefore, it formed a corporation known as Suministradora de Buses K Cuatro SpA. (hereinafter, the Supplier).

As a result of the aforementioned bid, the Supplier must purchase 991 buses which will then be leased to the operators of the Public Transportation System. The approximate cost of this acquisition is US$364 million plus VAT. The bid terms and conditions establish certain minimum capital obligations for the Supplier and, on May 13, 2022, the Supplier performed a capital increase of US$63.5 million (ThCh$58,769,207), of which, proportional to its new shareholder interest, Enel X Chile contributed US$31.5 million (ThCh$29,384,103), through Sociedad de Inversiones K Cuatro SpA.

On December 6, 2022, our subsidiary Enel X Chile completed the sale of its entire stake in Sociedad de Inversiones K Cuatro SpA and Suministradora de Buses K Cuatro SpA. (See Note 9.a) detail of Other accounts receivable, and Note 33).

c)Transmisora Eléctrica de Quillota Ltda.:

Transmisora Eléctrica

de Quillota Ltda.

% Ownership

    

50.0%

12-31-2021

ThCh$

Total current assets

Total non-current assets

Total current liabilities

Total non-current liabilities

Cash and cash equivalents

Revenues

896,616

Other fixed operating expenses

(239,154)

Depreciation and amortization expense

(824,314)

Other Income

25,735

Interest income

61,769

Income tax expense

(505,710)

Profit (loss)

(585,058)

Comprehensive income

(585,058)

On December 30, 2021, the Company sold its 50% equity interest in Transmisora Eléctrica de Quillota Ltda. (see Note 2.6.ii) for US$13,862,707, equivalent to ThCh$11,786,767, resulting in a profit of ThCh$9,968,845.

There are no significant commitments and contingencies, or restrictions to the availability of funds in associated companies and joint ventures.