Slide 1: Quarterly Report CFE FIBRA E Fourth Quarter 2019
QUARTERLY REPORT CFE FIBRA E FOURTH QUARTER 2019 Thursday, February 27th 2020
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 CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 3
Slide 4: Agenda: CFE FIBRA E executive summary
Agenda CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 4
Slide 5: CFE FIBRA E performance
CFE FIBRA E performance Promoted CFE Transmisión Trust FIBRA E Thousands FCFE18 Price and volume 4Q19 MXN Highest price: 30,000 December 10 28.49 29.00 4) 27.50 28.00 25,000 27.00 20,000 26.50 26.00 Last Price 26/02/2019 25.00 15,000 1) 24.00 2) 10,000 3) 23.00 22.00 5,000 21.00 0 20.00 10/1/2019 11
Slide 6: CFE FIBRA E analyst coverage
CFE FIBRA E analyst coverage Promoted CFE Transmisión Trust FIBRA E Target price per analyst February 26, 2020 Average 27.67 30.14 31.90 33.00 27.54 28.00 24.00 19.00 Source: CFECapital with information from Bloomberg (2019). 6
Slide 7: CFE FIBRA E revenue sources
CFE FIBRA E revenue sources Promoted CFE Transmisión Trust FIBRA E Beneficiary rights of the CFE FIBRA E Assets as of December 31, 2019 Promoted Trust2 (Million MXN) 0.18% $45.20 6.78%1 $25,484.07 99.82% 93.22% CFE Transmisión Source: CFECapital. Note: 1 6.776103%, rounds to 6.78%. The beneficiary r
Slide 8: Promoted Trust 4Q19 Account Balance
Promoted Trust 4Q19 Account Balance Promoted CFE Transmisión Trust FIBRA E Promoted Trust Account Balance as of December 31st, 2019 (Million MXN) October November December 4Q19 (1) Initial balance 5,119.42 10,651.06 13,992.87 (2) + Collection rights 7,887.64 5,767.06 5,466.11 19,120.81 (3) - Withdra
Slide 9: Issuer Trust 4Q19 Account Balance
Issuer Trust 4Q19 Account Balance Promoted CFE Transmisión Trust FIBRA E Issuer Trust Account Balance as of December 31, 2019 (Million MXN) October November December 4Q19 (1) Initial Balance 45.45 (1) 34.24 33.47_ (2) (2) + Promoted trust distribution. - - 930.16_ 930.16 (3) - Distribution to holder
Slide 10: Agenda: CFE Transmisión performance indicators
Agenda CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 10
Slide 11: CFE Transmisión performance indicators
CFE Transmisión performance indicators Promoted CFE Transmisión Trust FIBRA E System Average Interruption Frequency Index1 System Average Interruption Duration Index2 (Interruptions) (Minutes) 0.231 4.559 4.601 0.186 3.581 0.139 0.121 2.130 2.070 2.110 0.092 0.079 0.910 0.976 0.046 0.040 2012 2013 2
Slide 12: Agenda: Promoted Trust income flow and reimbursements
Agenda CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 12
Slide 13: Collection rights performance on 4Q19
Collection rights performance on 4Q19 Promoted CFE Transmisión Trust FIBRA E Collection rights from CENACE1 (Million MXN) 1,800 1,708 1,700 • Weekly collection rights 1,600 1,520 1,471 increased 7.69% during 4T19 1,366 1,500 compared to 4T18. 1,316 1,400 1,247 1,300 • Total weekly collection rights
Slide 14: Reimbursements and collections rights of the Promoted Trust
Reimbursements and collections rights of the Promoted Trust Promoted CFE Transmisión Trust FIBRA E Collection rights and reimbursements to CFE Transmisión 4Q19 (Million MXN) During 4Q19: • Average weekly collection rights: 1,470.83 million MXN. Operating profit margin: 60.5%1. • Average weekly reimb
Slide 15: Utilization of Promoted Trust budget
Utilization of Promoted Trust budget Promoted CFE Transmisión Trust FIBRA E Reimbursements made until 4Q19 vs approved budget (Million MXN) Category 2019 4Q19 % Budget Intercompany expenses 7,769 6,699 86% Operation and maintenance 7,126 6,778 95% Obligations expenses 3,471 2,969 86% Major maintenan
Slide 16: Agenda: Quarterly distribution of CFE FIBRA E
Agenda CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 16
Slide 17: Distribution to CFE FIBRA E and CFE Transmisión 4Q19
Distribution to CFE FIBRA E and CFE Transmisión 4Q19 Promoted CFE Transmisión Trust FIBRA E The amount to be distributed, correspondent to 4Q19, was approved by the Technical Committee of the Promoted Trust at its eighth regular session on December 10th of 2019. Calculation for the distributable amo
Slide 18: Fiscal treatment of distributions
Fiscal treatment of distributions Promoted CFE Transmisión Trust FIBRA E Promoted Trust taxable result 4Q19 Issuer Trust taxable result 4Q19 (Million MXN, cumulative amount) (Million MXN) Income from CENACE 62,694.50 Interests 613.85 Taxable income from the Promoted Trust 897.60 Reimbursements (16,0
Slide 19: Distributed amount to Series A and Series B
Distributed amount to Series “A” and Series “B” Promoted CFE Transmisión Trust FIBRA E Distribution to CFE FIBRA E (6.776103%) 930.16 Distributable Amount 918.6 Restitution to reserve fund1 (14.5) Interests from last period 3.0 Distribution to Series “A” holders Distribution amount to CFE FIBRA E ho
Slide 20: Composition of the 4Q19 distribution per CBFE
Composition of the 4Q19 distribution per CBFE1 Promoted CFE Transmisión Trust FIBRA E Revenue composition of CFE FIBRA E distributions for both Series (MXN per CBFE) 0.26570 0.26570 0.23255 0.23255 0.09080 0.09080 0.03968 0.03968 0.57500 0.57500 0.57500 0.57500 0.57500 0.57500 0.57500 0.57500 Series
Slide 21: Fiscal composition of 4Q19 distribution per CBFE
Fiscal composition of 4Q19 distribution per CBFE1 Promoted CFE Transmisión Trust FIBRA E Fiscal composition of CFE FIBRA E distributions for both Series (MXN per CBFE) 0.0365 0.0365 0.3423 0.3423 0.2550 0.2550 0.3584 0.3584 0.7711 0.7711 0.4984 0.4984 0.4108 0.4108 0.2563 0.2563 Series "A" Series "B
Slide 22: Average collection rights per distribution period
Average collection rights per distribution period Promoted CFE Transmisión Trust FIBRA E Weekly revenues from CENACE August 2016 – December 2019 (Million MXN) 1,800 1,700 1,681 1,600 1,581 1,500 1,447 1,452 1,400 1,317 1,300 1,278 1,200 1,100 1,000 900 800 Ene Feb Mar Abr May Jun Jul Ago Sep Oct Nov
Slide 23: Issuer Trust 4Q19 Balance Sheet
Issuer Trust 4Q19 Balance Sheet Promoted CFE Transmisión Trust FIBRA E Issuer Trust Balance Sheet as of December 31, 2019 (Million MXN) 3Q19 October November December Cash and equivalents 45.45 34.24 33.47 45.20 Fiduciary rights 27,926.22 27,929.29 27,933.98 25,484.07 Otros assets 1.19 0.90 0.63 0.3
Slide 24: Agenda: CFECapital administration and corporate governance
Agenda CFE FIBRA E executive summary CFE Transmisión performance indicators Promoted Trust income flow and reimbursements Quarterly distribution of CFE FIBRA E CFECapital administration and corporate governance 24
Slide 25: Administrator expenditures 4Q19
Administrator expenditures 4Q19 Promoted CFE Transmisión Trust FIBRA E Maintenance expenses (Million MXN) Cumulative 3Q19 October November December 4Q19 2019 (1) Administration fee 15.18 10.72 - - 10.72 74.80 Fiduciary and common representation fees 0.04 - - - - 0.62 (2) Independent members fees 0.6
Slide 26: Corporate governance activities
Corporate governance activities Promoted CFE Transmisión Trust FIBRA E On December 10, 2019 the Promoted Trust On December 2, 2019 the Issuer Trust Technical Committee had its ordinary session. CIB/2919, in the 4th session of the Conflicts Key decisions were taken: Committee: • Approval of the CFE T
Slide 27: Foreseeable future
Foreseeable future Promoted CFE Transmisión Trust FIBRA E March 31, 2020: 1Q2020 distribution. April 30, 2020: Annual report 2019. April 30, 2020: 1Q2020 Investor Call Source: CFECapital (2019). 27
Slide 28: Investor contact
investor@cfecapital.com.mx http://cfecapital.com.mx/