Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Endesa Chile — 9M 2014 Earnings Presentation
27 slides from Enel Chile Sa's earnings presentation, Oct 29, 2014
Slide 1: Endesa Chile 9M14 Results
Endesa Chile 9M14 Results October 29th 2014
Slide 2: Highlights
Highlights Operating revenues increased 24%, mainly due to higher energy sales in Chile, Colombia and Peru. Hydro generation increased 12% due to better water availability in Chile, Colombia and Argentina. Operating costs increased by 37% due to higher energy purchases in Chile. Consolidated EBITDA
Slide 3: Consolidated financial highlights
Consolidated financial highlights 1 MM US$2 Ch$ million 9M14 9M13 Change 9M14 Revenues 1,809,886 1,460,088 24% 3,226 Costs (863,812) (631,325) 37% (1,539) Contribution Margin 946,074 828,763 14% 1,686 EBITDA 771,186 673,770 14% 1,374 EBIT 621,914 528,508 18% 1,108 Net Financial Expenses (130,923) (1
Slide 4: Diversified source of EBITDA
Diversified source of EBITDA Total Installed Capacity1: Total Generation1(TTM): 14,572 MW 50,864 GWh Argentina Argentina 25% 21% Chile 35% Chile 44% Peru Peru 10% 17% Colombia Colombia 21% EBITDA 9M14 (TTM): 27% US$ 1,918 million Argentina 6% Peru Chile 17% 31% Endesa Brasil • Endesa Chile’s ownersh
Slide 5: Balanced commercial policy
Balanced commercial policy Physical Sales as of September 2014 Chile Colombia Peru Argentina 3% 7% 9% 19% 33% 47% 55% 38% 78% 20% 91% Distribution Companies Free Customers Spot Physical Sales as of September 2013 Chile Colombia Peru Argentina 4% 10% 16% 21% 29% 52% 53% 37% 75% 19% 84% Distribution C
Slide 6: Healthy debt maturity profile
Healthy debt maturity profile Financial Debt Maturity1 as of September 2014 • Cash: 2,500 2,364 US$ million US$ 600 MM; Total Debt: US$ 4,212 MM (US$ 635 MM including >90 days cash 2,000 investments) 1,500 • Committed Credit Lines: 1,000 US$ 473 MM 657 340 • Non-Committed Credit Lines: 500 222 126 5
Slide 7: Consistent consolidated cash flow generation
Consistent consolidated cash flow generation (US$ million)1 1,918 1,770 1,461 856 624 399 (266) (248) (278) (336) (331) (370) (465) (528) (449) EBITDA Net Financial Expenses Payments for Additions of Fixed Income Tax Free Cash Flow Assets 2012 2013 9M 2014 TTM *Attributable to each period 1Amounts t
Slide 8: Argentina
Argentina Installed Capacity: 3,652 MW Market Share*: 12% Total Generation: 7,332 GWh EL CHOCON Hydro El Chocón: 1,328 MW 1,328 MW Million US$ 9M 2014 9M 2013 Change Revenues 42 47 (9% ) EBITDA 23 20 16% EBITDA Margin 55.0% 42.9% 28% Physical Sales (GWh) 2,698 2,335 16% Buenos Aires Costanera COSTAN
Slide 9: Chile
Chile Installed Capacity: 6,351 MW Market Share*: 32% Total Generation: 12,995 GWh Tarapacá ENDESA CHILE GasAtacama Los Molles: 18 MW D. Almagro– Rapel-Sauzal: 466 MW Maule: 875 MW 54% Hydro Taltal Laja: 940 MW 3,456 MW Huasco Ralco-Pangue: 1,157 MW Los Molles San Isidro GasAtacama 780 MW Santiago T
Slide 10: Colombia
Colombia Installed Capacity: 3,041 MW Market Share*: 21% Total Generation: 10,467 GWh Cartagena EMGESA Guavio: 1,213 MW Betania: 541 MW 85% Hydro 2,597 MW Termozipa Río Bogotá: 843 MW Bogotá Guavio Cartagena: 208 MW 15% Thermal Betania Termozipa: 236 MW 444 MW Río Bogotá Million US$ 9M 2014 9M 2013
Slide 11: Peru
Peru Installed Capacity: 1,528 MW Market Share*: 19% Total Generation: 6,550 GWh EDEGEL Cuenca Río Rímac: 561 MW 49% Hydro Yanango: 43 MW 755 MW Chimay: 151 MW Ventanilla: 485 MW 51% Thermal Ventanilla 773 MW Santa Rosa: 288 MW Lima Río Rimac Yanango Sta Rosa Chimay Million US$ 9M 2014 9M 2013 Chang
Slide 12: Brazil
Brazil Installed Capacity: 987 MW Market Share*: 1% Total Generation: 3,825 GWh CACHOEIRA Fortaleza Cachoeira: 665 MW Hydro 665 MW Million US$ 9M 2014 9M 2013 Change Revenues 238 157 51% Cachoeira EBITDA 127 118 7% Rio de Janeiro EBITDA Margin 53.2% 74.9% (29% ) Physical Sales (GWh) 3,044 2,694 13%
Slide 13: Projects under construction: El Quimbo
Projects under construction Colombia El Quimbo • Hydro power plant, located in the Huila Department, Colombia • Utilizes the flow coming from the Magdalena River. • 400 MW of installed capacity with an estimated load factor of 60%. • 79% complete as of Sept 30, 2014 with an accumulated investment of
Slide 14: Projects under construction: Salaco Chain
Projects under construction Colombia Salaco Chain (optimization) • Upgrading the minor plants to reach 221 MW capacity. • Located in the Bogotá River system, Colombia. • Total CAPEX of US$ 44 million. • Optimization works started in January 2013. • 145 MW will be added to the capacity. • As of Septe
Slide 15: Investments recently completed
Investments recently completed Purchase of additional 50% stake of Attractive investment GasAtacama • Endesa Chile became the controller of GasAtacama • Thermal power plant, Gas – CCGT (6 units) (98%). • 780 MW of installed capacity. • Enhanced the role of the Company by reaching • Located in Mejill
Slide 16: Projects under construction: Los Cóndores
Projects under construction Chile Los Los Cóndores Cóndores • Hydro power plant, run of the river. • Located in San Clemente, in Maule region, Chile. • 150 MW of installed capacity. • Estimated load factor: 46% • FID1 approved on March 31, 2014. • Total CAPEX of US$ 662 million. • Estimated generati
Slide 17: Expected evolution for Endesa Chile's installed capacity
Expected evolution for Endesa Chile´s installed capacity 22% increase in installed capacity through new projects Hydro plant Thermal plant 815 MW Curibamba - 188 MW Punta Alcalde - 740 MW Neltume - 490 MW Salaco- 145 MW Taltal - 120 MW Los Cóndores - 150 MW El Quimbo- 400 MW GasAtacama- 780 MW 13,71
Slide 18: Summary
Summary Better Operations Results for the first nine months 2014 Diversified portfolio Hydrology Bocamina II temporary Shutdown Net Income was affected by Non Operating effects Tax reform in Chile Investments 18
Slide 19: Endesa Chile's Investor Relations Team
Endesa Chile´s Investor Relations Team Susana Rey Catalina Gonzalez Investor Relations Head of Investor Relations Director (56) 22630 9603 (56) 22630 9606 cbgs@endesa.cl susana.rey@endesa.cl Guillermo Berguecio Francisco Basauri Investor Relations Investor Relations Executive Executive (56) 22630 95
Slide 20: Exhibits
EXHIBITS 20
Slide 21: Strong financial position
Strong financial position Th US$1 Ch$ Million 9M 2014 9M 2013 Change % Change 9M 2014 Gross Debt 2,343,956 1,894,496 449,460 19% 3,912 Cash 360,738 323,807 36,931 10% 602 Net Debt 1,983,218 1,570,689 412,529 21% 3,310 Leverage 1.00 0.88* 0.12 12% 1.00 Financial Coverage 5.42 5.62 (0.20) (4%) 5.42 1A
Slide 22: Installed capacity and energy generation
Installed capacity and energy generation MW CHILE COLOMBIA PERU ARGENTINA TOTAL HYDRO 3,456 2,597 755 1,328 8,136 COAL Installed 636 236 - - 872 Capacity (MW) OIL-GAS 2,173 208 773 2,324 5,478 NCRE 87 - - - 87 Total 6,351 3,041 1,528 3,652 14,572 Gwh / Change1 CHILE COLOMBIA PERU ARGENTINA TOTAL HYD
Slide 23: Healthy debt maturity profile in each country
Healthy debt maturity profile in each country Financial Debt Maturity1, as of September 2014 US$ 2014 2015 2016 2017 2018 Balance TOTAL million Chile 69 598 14 11 11 1,227 1,930 Argentina 145 36 19 1 - - 201 Peru 16 38 98 51 37 46 286 Colombia - 123 10 104 128 1,430 1,794 TOTAL2 230 795 140 167 176
Slide 24: Projects under study: Punta Alcalde, Taltal
Projects under study Chile Punta Alcalde • Thermal, coal-steam power plant. • Located in Huasco, in the Atacama region (SIC), Chile. • 740 MW of installed capacity. • Estimated load factor: 83%. • On January 17, 2014, the Supreme Court of Chile reaffirmed the approval of the EIS1, in line with the r
Slide 25: Projects under study: Neltume, Curibamba
Projects under study Chile Neltume • Hydro power plant, run of the river. • Located in Panguipulli, in the Los Ríos Region (SIC). • 490 MW of installed capacity. • EIS1 under review. • Load Factor: 44%. • Estimated generation of 1,885 GWh/Year. Perú Curibamba • Hydro power plant, run of the river. •
Slide 26: Projects under study: HidroAysén
Projects under study Chile HidroAysén • Hydro power plants located in Aysén Region. • Endesa Chile owns 51% and Colbún 49%. • 2,750 MW of installed capacity. • Estimated average load factor: 77%. • On June 10th 2014, the Ministers Committee revoked the EIS1 previously approved for the five generatio
Slide 27: Forward-looking statements disclaimer
This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regarding the intent, belief or current expecta