Chile Enersis 2Q Net Profit CLP105.91 Billion Vs CLP106.25 Billion Year-Ago

Date : 07/28/2011 @ 3:07PM
Source : Dow Jones News
Stock : Enel Generacion Chile S.A. American Depositary Shares (Each Representing 30 Shares of ) (EOCC)
Quote : 23.05  0.0 (0.00%) @ 2:05AM

Chile Enersis 2Q Net Profit CLP105.91 Billion Vs CLP106.25 Billion Year-Ago

Empresa Nacional de (NYSE:EOCC)
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Enersis SA's (ENI, ENERSIS.SN) second-quarter net profit remained virtually flat, slipping a marginal 0.3% to 105.91 billion pesos ($232.1 million) on strong regional demand, the Chilean energy holding company reported Thursday.

Enersis' bottom line held despite one of the "worst droughts in the last 60 years" in Chile, which forced the company to use more expensive thermal generation, and despite reduced hydrolectricity in Argentina and Brazil.

Enersis owns power generation, distribution and transmission businesses in Argentina, Brazil, Chile, Colombia and Peru.

The company's second-quarter sales also remained virtually flat at CLP1.556 trillion.

Distribution accounts for half of Enersis' sales, while transmission and generation make up the other half.

Spain's Endesa SA (ELEZF, ELE.MC) owns Enersis, which in turn owns Chile's largest power generator, Empresa Nacional de Electricidad SA (EOC, ENDESA.SN).

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

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