Enel Chile’s earnings drop 60% to $85.13 mn

Enel's profits fell sharply in the first quarter, reaching CH$70,993 billion ($85.13 million), compared to $174,541 billion ($209.30 million) in the same period last year. This decrease was mainly due to the recording of extraordinary income of Ch$121,118 billion (Ch$145.33 million) in March 2019, as a result of the early termination of three electricity supply contracts signed in 2016 between Enel Generación Chile and Anglo American Sur.

Chile’s economic activity plummeted 3.5% in March

Chile’s economic activity dropped 3.5% in March from a year earlier, said the Central Bank. The bank’s IMACEC economic activity index declined 5.7% compared with the previous month, as the country went into an economic and social shutdown after the arrival in Chile of the Coronavirus. Finance Minister Ignacio Briones said in a statement the figures were as expected but the crisis was “transitory.”