Slide 1: Enersis 1Q 2014 results
Enersis 1Q 2014 results 06/05/2014
Slide 2: Highlights
Consolidated results 1Q 2014 Highlights The group is moving: successful progress on investments in Coelce’s tender offer, Gas Atacama acquisition, Edegel minorities and Los Condores hydro project. Enersis - Investor Relations EBITDA totaled US$ 750 mn, 4.6% less than the first quarter of 2013, in sp
Slide 3: Enersis recent announcements
Enersis recent announcements Voluntary Tender Acquisition of 50% Purchase of Los Condores offer for the 100% by Endesa Chile 21.14% Inkia Hydro Project of free float 11.8% 18.5% Enersis - Investor Relations Distribution - Brazil Generation - Chile Generation - Peru Generation - Chile •Results: 15% i
Slide 4: Business context in 1Q 2014
Consolidated results 1Q 2014 Business context in 1Q 2014 Sales to final clients (%) Generation Output (TWh) +4.6(1,2) +0.5%(3) +6.6(1) 4.8 4.1 8,3 7,9 3.4 6,2 3.0 3.0 2.6 Enersis - Investor Relations 4,9 4,3 2.2 2.2 3,5 2,8 2,9 2,5 1.2 1.4 1,2 Chile Colombia Brazil Peru Argentina Chile Colombia Braz
Slide 5: Financial highlights
Consolidated results 1Q 2014 Financial highlights Change 1Q 2014 Ch$ Million(1) 1Q 2014 1Q 2013 (%) Mn US$ Revenues 1,608,614 1,456,669 10.4% 2,915 Enersis - Investor Relations Costs -1,194,720 -1,022,628 16.8% -2,165 EBITDA 413,894 434,041 -4.6% 750 EBIT 295,037 325,515 -9.4% 535 Net income 120,195
Slide 6: From EBIT to net income
Consolidated results 1Q 2014 From EBIT to net income Change 1Q 2014 Ch$ Million(1) 1Q 2014 1Q 2013 (%) Mn US$ EBIT 295,037 325,515 -9.4% 535 Enersis - Investor Relations Net Financial Expense -61,360 -57,492 6.7% -111 Interest Expense -100,270 -100,747 -0.5% -182 Other 73,928 43,423 70.3% 134 Net In
Slide 7: Regulation update
Consolidated results 1Q 2014 Regulation update Fiscal reform project: Gradual increase of corporate income tax from 20% to 25% in 2017 Chile Disappearance of FUT(“Fondo de Utilidades Tributarias”) New emissions tax beginning in 2017 affecting thermal facilities >50MW Enersis - Investor Relat
Slide 8: EBITDA evolution (Ch$ Million)
Consolidated results 1Q 2014 EBITDA evolution (Ch$ Million) -4.6% 434,041 8,153 7,289 14,255 413,894 23,699 Enersis - Investor Relations (14%) 62,433 2,985 -28,306 74,625 -48,222 (18%) (38%) 162,116 FX (43%) 177,506 Other Argentina (30%) Peru 131,479 (35%) Colombia 143,704 Brazil (22%) Chile (16%) 9
Slide 9: EBITDA – Chile evolution (Ch$ Million)
Consolidated results 1Q 2014 (1) EBITDA – Chile evolution (Ch$ Million) -29.2% 96,782 Enersis - Investor Relations 175,781 Dx 42,058 68,476 -23,503 -4,803 37,255 Gx 54,725 31,221 1Q 2013 Generation Distribution 1Q 2014 1 Figures differ from data published in financial statements (“Nota Segmentos”) d
Slide 10: EBITDA – Brazil evolution (Ch$ Million)
Consolidated results 1Q 2014 (1) EBITDA – Brazil evolution (Ch$ Million) 9.3% 10.8% Enersis - Investor Relations 24,895 145,734 2,029 143,704 131,479 -10,641 Dx 77,605 76,524 88,246 68,129 67,180 Gx 43,233 1Q 2013 Generation (2) Distribution 1Q 2014 FX 1Q 2014 Excluding FX 1 Figures differ from data
Slide 11: EBITDA – Colombia evolution (Ch$ Million)
Consolidated results 1Q 2014 (1) EBITDA – Colombia evolution (Ch$ Million) +9.5% +5.2% 177,506 Enersis - Investor Relations 7,680 7,237 162,116 170,269 473 Dx 79,274 68,362 76,042 94,227 98,232 93,754 Gx 1Q 2013 Generation Distribution 1Q 2014 FX 1Q 2014 Excluding FX 1 Figures differ from data publi
Slide 12: EBITDA – Peru evolution (Ch$ Million)
Consolidated results 1Q 2014 (1) EBITDA – Peru evolution (Ch$ Million) +19.5% +11.7% 4,903 74,625 Enersis - Investor Relations 3,356 69,721 3,933 62,433 27,663 Dx 25,845 22,490 43,876 46,962 Gx 39,943 1Q 2013 Generation Distribution 1Q 2014 FX 1Q 2014 Excluding FX 1 Figures differ from data publishe
Slide 13: EBITDA – Argentina evolution (Ch$ Million)
Consolidated results 1Q 2014 (1) EBITDA – Argentina evolution (Ch$ Million) Ch$ -34,673 Generation: Generation: 10,214 14,055 8,049 Enersis - Investor Relations -10,585 Distribution: -18,633 -45,258 Distribution: -59,313 -58,436 -58,807 13,549 1Q 2013 Generation Distribution 1Q 2014 FX 1Q 2014 Exclu
Slide 14: A solid financial position
Consolidated results 1Q 2014 A solid financial position Cash flow YTD (Ch$ Million) 260,921 Enersis - Investor Relations -236,218 -145,018 -129,701 -40,020 (1) Cash flow from Capex (net) Dividend (net) Interest (net) Available Cash operations flow 14 1. Dividend considers cash outflow to Enersis and
Slide 15: Annexes
Annexes enersis
Slide 16: Production mix (GWh)
Operational annexes 1Q 2014 Production mix (GWh) Hydro Oil-gas Coal NCRE LatAm Chile Colombia -15,8% -1.4% +0.5% 4,822 4,062 3,018 2,974 13,894 13,957 1.2% 1.3% 9.4% 7.3% 0.4% 10.0% 0.4% 10.7% 4.7% 22.8% 1.2% 0.2% 18.5% Enersis - Investor Relations 42.0% 32.8% 38.0% 31.9% 89.4% 92.4% 51.6% 53.0% 56.
Slide 17: 1Q 2014 Net installed capacity: Breakdown by source and geography
Operational annexes 1Q 2014 1Q 2014 Net installed capacity: Breakdown by source and geography MW Hydro Oil-Gas Coal NCRE Total Chile 3,456 1,392 636 87 5,571 Enersis - Investor Relations Colombia 2,512 208 236 0 2,956 Peru 750 1,090 0 0 1,840 Brazil 665 322 0 0 987 Argentina 1,328 3,194 0 0 4,522 To
Slide 18: 1Q 2014 total net production: Breakdown by source and geography
Operational annexes 1Q 2014 1Q 2014 total net production: Breakdown by source and geography MWh Hydro Oil-Gas Coal NCRE Total Chile 2,241 1,334 433 54 4,062 Enersis - Investor Relations Colombia 2,749 7 218 0 2,974 Peru 1,138 1,021 0 0 2,159 Brazil 782 601 0 0 1,383 Argentina 487 2,892 0 0 3,380 Tot
Slide 19: EBITDA: generation/distribution businesses
Operational annexes 1Q 2014 EBITDA: generation/distribution businesses 1Q 2014 EBITDA: US$ 750Mn1 Enersis - Investor Relations 38.4% 61.6% Generation Distribution 19 1 The average exchange rate for the period January – March 2014 of 551.91 CLP/USD.
Slide 20: EBITDA: reconciliation of FX effect
Operational annexes 1Q 2014 EBITDA: reconciliation of FX effect: 1Q 2013 Chile Brazil Colombia Peru Argentina Total Financial Statements Generation 55,714 42,323 93,716 37.435 7,030 236,218 Distribution 41,572 87,728 68,362 22,490 -18,630 179,032 Total 97,286 130,051 162,078 59,925 -11,600 415,250 E
Slide 21: EBIT by business
Operational annexes 1Q 2014 (1) EBIT by business -9.1 % Ch$ Million 329,970 299,867 Enersis - Investor Relations 33% 45% 67% 55% 1Q 2013 1Q 2014 Generation Distribution 21 1.EBIT by business does not include holding companies or services
Slide 22: CAPEX by business
Operational annexes 1Q 2014 CAPEX by business 1Q 2014: Ch$ Million 236,218 Enersis - Investor Relations 40.3% 59.7% 40.3% 59.7% Generation Distribution 22
Slide 23: Balance Sheet
Operational annexes 1Q 2014 Balance Sheet Change 1Q 2014 (1) Ch$ Million 1Q 2014 1Q 2013 (%) Mn US$ Enersis - Investor Relations Net Debt 1,758,435 1,307,850 34.5% 3,190 Shareholder's equity 6,348,028 6,168,554 2.9% 11,517 (2) Net capital employed 8,106,463 7,476,404 8.4% 14,707 1. The exchange rate
Slide 24: Financial debt
Operational annexes 1Q 2014 Financial debt Average cost of gross debt Average residual maturity (years) 8.6% 8.5% 5.9 8.1% 5.3 5.5 Enersis - Investor Relations 2012 2013 1Q 2014 2012 2013 1Q 2014 (1) Net debt (CLP$ MM) Fixed + hedged / Total gross debt 2,576,515 1,307,850 1,758,435 43% 40% 44% 2012
Slide 25: Liquidity analysis
Operational annexes 1Q 2014 Liquidity analysis US$ Million Amount Outstanding Available Enersis - Investor Relations Committed credit lines 791 0 791 (1) Cash and cash equivalents 3,099 n.a. 3,099 Uncommitted lines 783 0 783 Total liquidity 4,673 0 4,673 1 Cash and cash equivalents considers in addi
Slide 26: Debt structure
Operational annexes FY 2013 Debt structure • Average debt maturity: 5.9 years • Rating: • Average cost of gross debt: 8.5% - Standard & Poor’s(1): BBB+ / AA, Stable • Fixed+Hedged/ Total gross debt: 44% - Moody’s: BBB+, Stable - Fitch Ratings(1): Baa2 / AA, Stable Enersis - Investor Relations Change
Slide 27: Disclaimer
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 curr
Slide 28: Investor Relations Team (ir@enersis.cl)
Investor Relations Team (ir@enersis.cl) • Pedro Cañamero +56 2 2353 4682 • Denisse Labarca +56 2 2353 4576 • Nicolás Donoso +56 2 2353 4492 • Jorge Velis +56 2 2353 4552 • Francisco Basauri +55 2 2353 4555 • Carmen Poblete +56 2 2353 4447 • María Luz Muñoz +56 2 2353 4682 Visit our website at: www.e