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Investments Accounted for Using the Equity Method
12 Months Ended
Dec. 31, 2024
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, 2024 and 2023:

Share of

Foreign

Other

Other

Balance as

Balance as

Balance as of

Profit

Dividends

Currency

Comprehensive

Increase

of

Negative

of

Taxpayer ID

Ownership

1-1-2024

Additions

(Loss)

Declared

Translation

Income

(Decrease)

12-31-2024

Equity

12-31-2024

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%

19,668,637

9,176,565

3,224,455

32,069,657

32,069,657

76.014.570-K

Enel Argentina S.A.

Associate

Argentina

Argentine Peso

0.0793%

283,362

(40,782)

(30,912)

309,145

520,813

520,813

76.364.085-K

Energías Marina SpA

Associate

Chile

Chilean Peso

25.00%

58,859

54,434

113,293

113,293

77.374.847-0

HIF H2 SpA (1)

Joint venture

Chile

U.S. dollar

50.00%

(329,838)

(19,506)

(349,344)

349,344

77.569.067-4

Enel X Way Chile S.p.A. (2)

Associate

Chile

Chilean Peso

49.00%

5,342,927

(446,704)

(4,896,223)

TOTAL

25,353,785

8,413,675

3,174,037

(4,587,078)

32,354,419

349,344

32,703,763

Share of

Foreign

Other

Other

Balance as

Balance as

Balance as of

Profit

Dividends

Currency

Comprehensive

Increase

of

Negative

of

Taxpayer ID

Ownership

1-1-2023

Additions

(Loss)

Declared

Translation

Income

(Decrease)

12-31-2023

Equity

12-31-2023

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%

12,404,147

6,688,098

576,392

19,668,637

19,668,637

76.014.570-K

Enel Argentina S.A.

Associate

Argentina

Argentine Peso

0.0793%

388,328

60,300

(68,676)

(252,284)

155,694

283,362

283,362

76.364.085-K

Energías Marina SpA

Associate

Chile

Chilean Peso

25.00%

98,222

61,702

(1,428)

(99,637)

58,859

58,859

77.374.847-0

HIF H2 SpA (1)

Joint venture

Chile

U.S. dollar

50.00%

(7,142)

(412)

(7,554)

7,554

77.569.067-4

Enel X Way Chile S.p.A.

Associate

Chile

Chilean Peso

49.00%

4,960,303

1,470,000

(1,100,870)

13,494

5,342,927

5,342,927

TOTAL

17,752,778

1,568,222

5,702,088

(68,676)

322,268

13,494

56,057

25,346,231

7,554

25,353,785

(1)See Note 13.3.a).
(2)See Note 2.4.1.

13.2. Additional financial information on investments in associates

Financial information as of December 31, 2024 and 2023 of the main companies in which the Group exercises significant influence is as follows:

As of December 31, 2024

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%

174,668,445

1,851,304,512

298,739,430

1,631,024,554

1,045,888,202

27,529,696

9,673,371

37,203,067

As of December 31, 2023

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%

144,820,356

1,776,749,121

251,678,137

1,610,885,427

1,042,145,056

20,064,295

1,729,184

21,793,479

Enel X Way Chile S.p.A.

49.00%

14,966,228

3,393,337

7,094,389

361,244

9,082,236

(2,246,673)

27,539

(2,219,134)

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 as of December 31, 2024 and 2023, are as follows:

a)HIF H2 SpA.:

HIF H2 SpA

Ownership %

50.0%

50.0%

    

12-31-2024

    

12-31-2023

ThCh$

ThCh$

Total current assets

1,989

2,620

Total non-current assets

995

Total current liabilities

726,998

27,945

Cash and cash equivalents

1,989

2,620

Other fixed operating expenses

(659,674)

(14,278)

Profit (Loss)

(659,674)

(14,278)

Comprehensive income (Loss)

(659,674)

(14,278)

b)Sociedad de Inversiones K Cuatro SpA:

Sociedad de Inversiones

K Cuatro SpA

Ownership %

    

50.0%

12-06-2022

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)

Finance costs

(129)

Foreign currency translation gains (losses)

58,279

Income per adjustment units

3,497

Profit (loss)

(539,175)

Comprehensive income (Loss)

(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. Accordingly, it formed a special purpose vehicle known as Suministradora de Buses K Cuatro SpA. (hereinafter, the “Supplier”).

As a result of the aforementioned bid, the Supplier acquired 991 buses for subsequent leasing to Public Transport System operators. The approximate cost of this acquisition amounted to US$364 million plus VAT. The bidding terms established certain minimum capital obligations for the Supplier, and on May 13, 2022, the Supplier made a capital increase of US$63.5 million (ThCh$58,769,207), of which, pro rata to its new shareholding, 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 ownership interests in Sociedad de Inversiones K Cuatro SpA and Suministradora de Buses K Cuatro SpA.

On June 30, 2023, Enel X Chile received a payment of ThCh$14,821,848, representing 50% of the total sales amount. As of December 22, 2023, Enel X Chile received a payment of ThCh$14,840,706 for the remaining 50% of the total sales amount.

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