Cfe Fibra E Series A · BMV:FCFE/18
Cfe Fibra E Series A — CFE Fibra E — Q3 2023 Earnings Presentation
34 slides from Cfe Fibra E Series A's earnings presentation, Oct 26, 2023
Slide 1: Quarterly Report Third Quarter 2023
QUARTERLY REPORT CFE FIBRA E (FCFE18) Third Quarter 2023 October 26th, 2023
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following before continuing. This presentation has been prepared by CFECapital, S. de R.L. de C.V. (“CFECapital” or the “Manager”) and is being provided to you for informational purposes only. Neither the Manager nor any of its affiliates or representatives ma
Slide 3: Agenda
AGENDA 1 2 3 4 5 PERFORMANCE PROMOTED TRUST QUARTERLY CFECAPITAL CFE FIBRA E OF THE INCOME FLOW DISTRIBUTION ADMINISTRATION EXECUTIVE ELECTRICITY AND OF CFE FIBRA E AND CORPORATE SUMMARY TRANSMISSION REIMBURSEMENTS GOVERNANCE SECTOR
Slide 4: Agenda: Executive Summary
AGENDA 1 CFE FIBRA E EXECUTIVE SUMMARY 2 3 4 5 PERFORMANCE PROMOTED TRUST QUARTERLY CFECAPITAL OF THE INCOME FLOW AND DISTRIBUTION ADMINISTRATION ELECTRICITY REIMBURSEMENTS OF CFE FIBRA E AND CORPORATE TRANSMISSION GOVERNANCE SECTOR
Slide 5: Relevant Events
RELEVANT EVENTS Fideicomiso CFE Transmisión Promovido FIBRA E “CFE will continue with the development of the transmisión projects necessary to guarantee the reliable supply of electrical energy throughout the country.” “The development of these projects will allow us to meet the supply of demand, pr
Slide 6: Relevant Events
RELEVANT EVENTS Fideicomiso CFE Transmisión Promovido FIBRA E “CFECapital reports that it has reached a new historical máximum in distributions to holders of CFE FIBRA E certificates”. “CFE presented the financial statements for 3Q23, recording a 6.8% in total revenues attributable to growth in ener
Slide 7: Relevant Events
EVENTOS RELEVANTES Fideicomiso CFE Transmisión Promovido FIBRA E July 27th, 2023 August 3th, 2023 August 30th, 2023 CFE presented the financial statements CFE formalized a long-term loan for $333.6 The CFE presented the electric energy corresponding to 2Q23, reflecting better million dollars through
Slide 8: CFE FIBRA E Performance
CFE FIBRA E PERFORMANCE Promoted CFE Transmisión Trust FIBRA E Graph 1. Price and Volume of CFE FIBRA E January 2nd to October 25h, 2023 Millions of July - September CBFEs2 MXN $ 27.80 $ 26.50 $28.50 2 1.8 $28.00 1.6 $27.50 1.4 1.2 $27.00 1 $26.50 0.8 $26.00 0.6 0.4 $25.50 0.2 $25.00 0 1/2/23 2/2/23
Slide 9: CFE FIBRA E and Other REITs Performance
CFE FIBRA E AND OTHER REITs PERFORMANCE Promoted CFE Transmisión Trust FIBRA E Chart 1. Dividend Yield of the CFE FIBRA E1 vs. other REITs2 July 1st to September 30th, 2023 % Instrument July August September FCFE18 MM Equity 11.32 11.62 11.43 FUNO11 MM Equity 9.08 9.20 7.87 DANHOS13 MM Equity 10.93
Slide 10: Analyst Coverage
CFE FIBRA E ANALYST COVERAGE Promoted CFE Transmisión Trust FIBRA E Target Price Graph 2. Average Target Price in the last 12 months (MXN) $32.50 32 $31.00 31 $35.50 30 29 16.54% $27.00 28 $30.00 27 $26.60 26 $27.00 25 24 $33.00 Prc obj Target 12M Price 12M Precio Price $32.00 Potential growth: + 16
Slide 11: Agenda
AGENDA 2 PERFORMANCE OF THE ELECTRICITY TRANSMISSION SECTOR 1 3 4 5 CFE FIBRA E PROMOTED TRUST CFECAPITAL QUARTERLY EXECUTIVE INCOME FLOW AND ADMINISTRATION DISTRIBUTION SUMMARY REIMBURSEMENTS AND CORPORATE OF CFE FIBRA E GOVERNANCE
Slide 12: Performance Indicators for CFE Transmission
PERFORMANCE INDICATORS FOR CFE TRANSMISSION Promoted CFE Transmisión Trust FIBRA E Graph 3. Transmission Losses Graph 4. System Average Interruption (Percentage) Duration Index (SAIDI)1 (Minutes) 13.89* 2.44% 2.42% 2.38% 4.26 3.30 3Q21 3Q22 3Q23 3Q21 3Q22 3Q23 Graph 5. Energy not delivered2 Graph 6.
Slide 13: Volumes of Electric Energy in the NTN
VOLUMES OF ELECTRIC ENERGY IN THE NTN1 Promoted CFE Transmisión Trust FIBRA E Graph 7. Volume of Electric Energy 36,000 (TWh2 | 2019 – september 2023) 34,000 The volumes of electrical energy transmitted in the 32,000 National Transmission 30,000 Network (NTN) in the Third Quarter of 2023 increased:
Slide 14: Collection Rights Performance (Calendar Year)
COLLECTION RIGHTS PERFORMANCE (CALENDAR YEAR) Promoted CFE Transmisión Trust FIBRA E Graph 8. Collection Rights income from CENACE1 2,200 (Weekly Average | Million MXN) 2,000 Average collection rights from 1,800 July 1st to September 30th, 2023 increased: 1,600 • 8.20% vs. 2022 • 14.90% vs. 2021 1,4
Slide 15: Collection Rights by Distribution Period
COLLECTION RIGHTS BY DISTRIBUTION PERIOD Promoted CFE Transmisión Trust FIBRA E Graph 9. Collection Rights income from CENACE1 2,200 (Weekly Average | Million MXN) 2,000 1,800 Average collection rights in the Third Quarter 2023 1,600 increased: • 5.04% vs. 3Q22 1,400 2Q19: 1,681 • 13.32% vs. 3Q21 2Q
Slide 16: Agenda
AGENDA 3 PROMOTED TRUST DESEMPEÑO INCOME FLOW AND DEL SECTOR DE REIMBURSEMENTS TRANSMISIÓN DE ELECTRICIDAD 1 2 4 5 CFE FIBRA E PERFORMANCE QUARTERLY CFECAPITAL EXECUTIVE OF THE DISTRIBUTION ADMINISTRATION SUMMARY ELECTRICITY OF CFE FIBRA E AND CORPORATE TRANSMISSION GOVERNANCE SECTOR 16
Slide 17: Composition of Assets
COMPOSITION OF CFE FIBRA E ASSETS Promoted CFE Transmisión Trust FIBRA E Graph 10. Income source of CFE FIBRA E Beneficiary Rights of the CFE FIBRA E Assets as of September 30th, 2023 Promoted Trust (MXN) 0.21% $52,268,262 93.22% CFE 6.78%1 Transmisión 93.22% CFE 6.78%1 99.79% $24,751,926,486 Transm
Slide 18: Promoted Trust 3Q23 Account Balance
PROMOTED TRUST 3Q23 ACCOUNT BALANCE Promoted CFE Transmisión Trust FIBRA E Chart 2. Account Balance Promoted Trust F/80758 (MXN) July August September 3Q23 Initial Balance 4,766,316,039 5,583,472,662 7,249,328,837 + Collection Rights 8,023,494,091 10,023,514,136 7,762,534,082 25,809,542,309 ‒ Withdr
Slide 19: Promoted Trust Budget
PROMOTED TRUST BUDGET Promoted CFE Transmisión Trust FIBRA E Chart 3. Approved Budget vs. exercised as of September 30th, 2023 (MXN) Exercised Category Budget 2023 % Graph 11. Budget 3Q23 Intercompany expenses 11,160,579,377 3,170,200,671 28% Operation and minor maintenance 10,257,710,550 5,781,701,
Slide 20: Issuer Trust 3Q23 Account Balance
ISSUER TRUST 3Q23 ACCOUNT BALANCE Promoted CFE Transmisión Trust FIBRA E Chart 4. Account Balance Issuer Trust CIB/2919 as of September 30th, 2023 (MXN) July August September 3Q23 Initial Balance 50,985,579 340,655,153 704,562,073 + Deposits 305,959,153 361,345,872 474,119,890 1,141,424,915 - Withdr
Slide 21: Issuer Trust 3Q23 General Balance
ISSUER TRUST 3Q23 GENERAL BALANCE Promoted CFE Transmisión Trust FIBRA E Chart 5. Issuer Trust Balance Sheet as of 3Q23 (MXN) 2Q23 July August September Cash and Equivalents 50,985,579 340,655,153 704,562,073 52,268,262 (1) Fiduciary Rights 24,939,153,566 24,637,645,952 24,282,027,442 24,751,926,486
Slide 22: Fiscal Treatment of Distributions
FISCAL TREATMENT OF DISTRIBUTIONS Promoted CFE Transmisión Trust FIBRA E Chart 6. Promoted Trust Taxable Result, 3Q23 Chart 7. Issuer Trust Taxable Result, 3Q23 (MXN) (MXN) Income from CENACE 51,421,391,773 Taxable Income from the Promoted Trust 867,460,260 Interests 426,198,389 Trust Expenses- Inte
Slide 23: Agenda
AGENDA 4 QUARTERLY DISTRIBUTION OF CFE FIBRA E 1 2 3 5 CFE FIBRA E PERFORMANCE PROMOTED TRUST CFECAPITAL EXECUTIVE OF THE INCOME FLOW AND ADMINISTRATION SUMMARY ELECTRICITY REIMBURSEMENTS AND CORPORATE TRANSMISSION GOVERNANCE SECTOR 23
Slide 24: Distribution to CFE FIBRA E and CFE Transmission
DISTRIBUTION TO CFE FIBRA E AND CFE TRANSMISSION Promoted CFE Transmisión Trust FIBRA E • The 3Q23 distribution is made up of the balances for June, July and August for $17,599 million pesos, less re-settlements for an amount of $4.26 million pesos, less $250 million pesos from the reserve and less
Slide 25: Amount Distributed to Series A and Series B
AMOUNT DISTRIBUTED TO SERIES “A” AND SERIES “B” Promoted CFE Transmisión Trust FIBRA E Chart 8. Distribution Breakdown Graph 12. Cascade of payments of the CFE FIBRA E (MXN) (Million MXN) $1,133.68 $490.59 Distribution to CFE FIBRA E 1,141,424,915 (6.776103%) Restitution of the -18,169,614 Expenditu
Slide 26: Distributed Amount to Series A and Series B
DISTRIBUTED AMOUNT TO SERIES “A” AND SERIES “B” Promoted CFE Transmisión Trust FIBRA E Distributable Distribution per CBFE2 of Series “A” Amount $0.9966 $1,133,681,963 Distribution per CBFE2 of Series “B” $0.9966 MQD1 ($0.575 MXN per CBFE2) $490,587,361 MQD1 pending Series “A” $0.00 MQD1 ($0.575 MXN
Slide 27: Income Composition of the 3Q23 Distribution per CBFE
INCOME COMPOSITION OF THE 3Q23 DISTRIBUTION PER CBFE1 Promoted CFE Transmisión Trust FIBRA E Graph 13. Revenue Composition of CFE FIBRAE Distribution for both Series (MXN per CBFE1) 0.1114 0.5749 0.4000 0.4000 0.4216 0.4216 0.2702 0.2702 0.1114 0.5750 0.5750 0.5750 0.5750 0.5750 0.5750 0.5750 0.5750
Slide 28: Fiscal Composition of 3Q23 Distribution per CBFE
FISCAL COMPOSITION OF 3Q23 DISTRIBUTION PER CBFE1 Promoted CFE Transmisión Trust FIBRA E Graph 14. Fiscal Composition of CFE FIBRA E distribution for both Series (MXN per CBFE1) 0.675 0.2487 0.3180 0.3180 0.0420 0.0420 0.5158 0.3674 0.8030 0.8030 0.7479 0.6570 0.6570 0.5750 0.586 0.4808 0.3189 0.000
Slide 29: Agenda
AGENDA 5 CFECAPITAL ADMINISTRATION AND CORPORATE GOVERNANCE 1 2 3 4 CFE FIBRA E PERFORMANCE PROMOTED TRUST QUARTERLY EXECUTIVE OF THE INCOME FLOW AND DISTRIBUTION SUMMARY ELECTRICITY REIMBURSEMENTS OF CFE FIBRA E TRANSMISSION SECTOR
Slide 30: Administrator Expenses 3Q23
ADMINISTRATOR EXPENSES 3Q23 Promoted CFE Transmisión Trust FIBRA E Chart 10. Administrator maintenance expenses as of Third Quarter 2023 (MXN ) July August September 3Q23 (i) Administration Fee 16,446,689 0 0 16,446,689 Fiduciary and Common Representation Fees 272,148 0 0 272,148 Compensation to Ind
Slide 31: Corporate Governance Activities
CORPORATE GOVERNANCE ACTIVITIES IRREVOCABLE TRUST CIB/2919 (ISSUER TRUST) TECHNICAL COMMITTEE AUDIT COMMITTEE On september 18th, 2023, the 28th Session of the Technical The Audit Committee, in its 18th Ordinary Session, dated Committee of the Issuing Trust was held, in which the September 18th, 2023
Slide 32: Corporate Governance Activities
CORPORATE GOVERNANCE ACTIVITIES NOMINATIONS COMMITTEE HOLDERS’ ASSEMBLY The Nominations Committee, in its 2nd Ordinary Session, The Holders’s Assembly was held on October 19th, 2023, dated September 26, 2023, in which the following topics at the offices of the Common Representative, Monex, Casa were
Slide 33: Key Dates 4Q23
KEY DATES 4Q23 Promoted CFE Transmisión Trust FIBRA E December 29th, 2023 4Q23 Distribution February 28th, 2024* 4Q23 Investor Call February 27th, 2024* 3Q23 Quarterly Report * Estimated date. 33
Slide 34: Investor contact
investor@cfecapital.com.mx http://cfecapital.com.mx/ 55 2526 8840