XML 33 R18.htm IDEA: XBRL DOCUMENT v3.23.1
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:

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Share of

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Foreign

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Other

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Other

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Balance as

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Balance as

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Balance as of

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Profit

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Dividends

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Currency

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Comprehensive

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Increase

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of

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Negative

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of

Taxpayer ID

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Ownership

​

1-1-2021

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Additions

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(Loss)

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Declared

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Translation

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Income

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(Decrease)

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12-31-2022

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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

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GNL Chile S.A.

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Associate

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Chile

​

U.S. dollar

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33.33%

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5,706,636

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—

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6,846,528

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—

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(149,017)

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—

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—

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12,404,147

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—

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12,404,147

76.014.570-K

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Enel Argentina S.A.

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Associate

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Argentina

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Argentine Peso

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0.08%

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387,135

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—

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(22,337)

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(42,758)

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(144,639)

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—

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210,927

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388,328

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—

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388,328

76.364.085-K

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Energías Marina SpA

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Associate

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Chile

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Chilean Peso

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25.00%

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—

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16,493

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(59,317)

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—

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—

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—

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—

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(42,824)

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42,824

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—

77.157.779-2

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Enel X AMPCI Ebus Chile SpA

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Associate

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Chile

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U.S. dollar

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20.00%

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3,828,885

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—

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(29,621)

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(384,087)

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(67,686)

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1,033,236

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(4,380,727)

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—

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—

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—

77.374.847-0

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HIF H2 SpA (1)

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Joint venture

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Chile

​

U.S. dollar

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50.00%

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1,277

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2,744,259

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(2,750,793)

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—

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146

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—

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—

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(5,111)

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5,111

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—

77.230.801-9

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Sociedad de Inversiones K Cuatro SpA (2)

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Joint venture

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Chile

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Chilean Peso

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50.00%

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—

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29,352,972

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(266,328)

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—

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—

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—

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(29,086,644)

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—

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—

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—

77.371.406-1

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Suministradora de Buses K Cuatro SPA (2)

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Joint venture

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Chile

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Chilean Peso

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0.50%

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—

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296,809

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(3,259)

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—

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—

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—

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(293,550)

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—

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—

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—

77.569.067-4

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Enel X Way Chile S.p.A.

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Associate

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Chile

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Chilean Peso

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49.00%

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—

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6,196,475

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(433,632)

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—

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—

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9,949

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(812,489)

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4,960,303

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—

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4,960,303

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TOTAL

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9,923,933

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38,607,008

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3,281,241

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(426,845)

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(361,196)

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1,043,185

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(34,362,483)

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17,704,843

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47,935

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17,752,778

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Share of

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Foreign

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Other

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Other

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Balance as

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Negative

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Balance as

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Balance as of

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Profit

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Dividends

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Currency

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Comprehensive

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Increase

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of

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Equity

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of

Taxpayer ID

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Ownership

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1-1-2020

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Additions

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(Loss)

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Declared

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Translation

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Income

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(Decrease)

​

12-31-2021

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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

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GNL Chile S.A.

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Associate

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Chile

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U.S. dollar

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33.33%

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1,729,383

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—

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3,620,701

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(381,860)

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738,412

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—

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—

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5,706,636

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—

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5,706,636

77.017.930-0

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Transmisora Eléctrica de Quillota Ltda. (3)

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Joint venture

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Chile

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Chilean Peso

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0.00%

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7,451,193

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—

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(292,529)

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(5,360,886)

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—

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—

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(1,797,778)

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—

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—

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—

76.014.570-K

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Enel Argentina S.A.

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Associate

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Argentina

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Argentine Peso

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0.08%

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370,563

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—

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(108,016)

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(66,360)

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(5,706)

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—

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196,654

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387,135

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—

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387,135

76.364.085-K

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Energías Marina SpA

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Associate

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Chile

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Chilean Peso

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25.00%

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—

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57,357

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(62,484)

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—

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—

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—

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—

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(5,127)

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5,127

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—

77.157.779-2

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Enel X AMPCI Ebus Chile SpA

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Associate

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Chile

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U.S. dollar

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20.00%

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3,441,664

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—

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19,737

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(670,700)

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678,387

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359,797

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—

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3,828,885

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—

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3,828,885

77.374.847-0

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HIF H2 SpA (1)

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Joint venture

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Chile

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U.S. dollar

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50.00%

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—

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1,277

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—

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—

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—

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—

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—

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1,277

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—

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1,277

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TOTAL

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12,992,803

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58,634

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3,177,409

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(6,479,806)

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1,411,093

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359,797

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(1,601,124)

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9,918,806

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5,127

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9,923,933

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

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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:

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As of December 31, 2022

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Direct / Indirect

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Current Assets

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Non-current
Assets

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Current Liabilities

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Non-current
Liabilities

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Revenues

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Profit (Loss)

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Other
Comprehensive
Income

​

Comprehensive
Income

Investments with Significant Influence

    

Ownership %

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

GNL Chile S.A.

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33.33%

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168,628,712

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1,732,116,130

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258,607,318

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1,604,925,084

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1,342,760,054

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20,539,585

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(447,055)

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20,092,530

Enel X AMPCI Ebus Chile SpA

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20.00%

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—

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—

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—

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—

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—

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(148,103)

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4,827,752

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4,679,649

Enel X Way Chile S.p.A.

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49.00%

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15,891,445

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2,214,410

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7,578,722

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404,066

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4,239,501

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(884,964)

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20,305

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(864,659)

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As of December 31, 2021

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Direct / Indirect

​

Current Assets

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Non-current
Assets

​

Current Liabilities

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Non-current
Liabilities

​

Revenues

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Profit (Loss)

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Other
Comprehensive
Income

​

Comprehensive
Income

Investments with Significant Influence

    

Ownership %

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

    

ThCh$

GNL Chile S.A.

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33.33%

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135,535,995

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1,551,052,079

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204,485,491

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1,464,982,676

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1,025,300,274

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10,862,103

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2,215,243

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13,077,346

Enel X AMPCI Ebus Chile SpA

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20.00%

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15,011,284

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105,903,882

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13,781,434

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87,989,309

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—

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98,684

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5,190,928

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5,289,612

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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.:

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HIF H2 SpA

% Ownership

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50.0%

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50.0%

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12-31-2022

    

12-31-2021

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ThCh$

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ThCh$

Total current assets

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2,556

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4,008,576

Total current liabilities

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12,779

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—

Total non-current liabilities

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—

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4,006,021

Cash and cash equivalents

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2,556

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2,555

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​

​

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Other fixed operating expenses

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(5,501,586)

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—

Profit (Loss)

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(5,501,586)

​

—

Comprehensive income

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(5,501,586)

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—

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b)Sociedad de Inversiones K Cuatro SpA.:

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Sociedad de Inversiones

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K Cuatro SpA

% Ownership

    

50.0%

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06-12-2022

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ThCh$

Total current assets

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237,410

Total non-current assets

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59,474,494

Total current liabilities

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1,927

Total non-current liabilities

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886,326

Cash and cash equivalents

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1,557

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Other fixed operating expenses

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(600,822)

Financial costs

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(129)

Foreign exchange gains (losses)

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58,279

Income per adjustment units

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3,497

Profit (loss)

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(539,175)

Comprehensive income

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(539,175)

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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).

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c)Transmisora Eléctrica de Quillota Ltda.:

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Transmisora Eléctrica

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de Quillota Ltda.

% Ownership

    

50.0%

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12-31-2021

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ThCh$

Total current assets

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—

Total non-current assets

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—

Total current liabilities

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—

Total non-current liabilities

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—

Cash and cash equivalents

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—

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​

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Revenues

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896,616

Other fixed operating expenses

​

(239,154)

Depreciation and amortization expense

​

(824,314)

Other Income

​

25,735

Interest income

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61,769

Income tax expense

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(505,710)

Profit (loss)

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(585,058)

Comprehensive income

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(585,058)

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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.