Slide 1: Enersis 1Q 2012 results
25 | 04 | 2012 enersis 1Q 2012 results
Slide 2: Highlights in 1Q 2012
Enersis consolidated results 1Q 2012 Highlights in 1Q 2012 Enersis increased its operating revenues, despite the adverse conditions, such as the drought in Chile. Even with the drought in Chile and the Argentinean situation, EBITDA increased by 14.4% due to better performance in, Colombia, Brazil an
Slide 3: Key physical data and EBITDA structure
Enersis consolidated results 1Q 2012 Key physical data and EBITDA structure Physical data (GWh) 1Q 2012 Chile Brazil Peru Colombia Argentina TOTAL ENERSIS 4,875 31 Other 14,093 3,073 2,111 Thermal 128 2,896 31 5,156 5,621 2,273 4,536 18,251 Hydro 3,564 975 3,261 2,352 946 2,945 8,441 2,733 84 892 1,
Slide 4: Demand evolution and spot prices
Enersis consolidated results 1Q 2012 Demand evolution and spot prices Latam countries where Enersis operates showed an average growth weighted by TWh +6.5%¹ weighted average 6.5% Average spot prices 2 200 198 -0.9% Average Spot Prices 41 49 47 25 30 28 22 20 87.5% 26.5% -5.4% -7.6% 1Q 2011 1Q 2012 1
Slide 5: Income Statement
Enersis consolidated results 1Q 2012 Income Statement 1 Th US$ 1Q 2012 1Q 2011 Change Ch$ Million 1Q (*) 2012 Revenues 1,644,117 1,575,569 4.4% 3,361,928 Gross Margin 718,696 702,524 2.3% 1,469,606 EBITDA 497,025 434,360 14.4% 1,016,328 Operating Income 376,538 350,715 7.4% 769,952 Financial Expense
Slide 6: Gross margin
Enersis consolidated results 1Q 2012 Gross margin¹ 702,524 +14.3% -8.5% 718,696 Ch$ Million 1Q 2011 Generation Business Distribution Business 1Q 2012 CHI: Lower operating revenues, with higher transportation cost and fuel COL: Higher energy sales income due to an increase in demand, and consumption
Slide 7: EBITDA in Generation and Distribution
Enersis consolidated results 1Q 2012 EBITDA in Generation and Distribution¹ Generation Distribution Ch$ Million 267,165 231,710 230,587 14,999 7,243 -0.5% Argentina 205,985 29.7% 78,253 36,395 87,060 2,518 32,174 Colombia 37,204 22,527 22,042 32,517 37,175 Peru 129,204 106,978 46,510 Brazil 115,625
Slide 8: Commercial policy and sales strategy
Enersis consolidated results 1Q 2012 Commercial policy and sales strategy Latin America (% estimated output hedged) 75.7% 62.4% Contracting level in Latin America that optimizes margin and risk exposure 34% of the generation 2012 2013 sold through contracts > 5 yrs and 21% through Year 2012 Chile Pe
Slide 9: Commercial Policy
Enersis consolidated results 1Q 2012 Commercial Policy Total Generation Sales 1Q2012 25% 49% 26% Chile Brazil Peru Colombia Argentina 1% 8% 17% 27% 18% 32% 54% 28% 53% 67% 64% 20% 82% 29% Regulated Sales Unregulated sales Spot Sales Chile Brazil Peru Colombia Argentina Total Var. v/s Var. v/s Var. v
Slide 10: Efficiency Program
Enersis consolidated results 1Q 2012 Efficiency Program Enersis’ Synergy Plan Enersis’ Zenith Plan (M€) 144 (M€) 70 Synergies to achieve 104 Zenith to achieve 49 100% 100% 100% 100% Capex 1% Others: 1% 0. 25 0 Generation Opex Generation 24% Synergies Opex 25% 41% Zenith Plan 94% achived in achived i
Slide 11: Regulation update: Latam
Enersis consolidated results 1Q 2012 Regulation update: Latam Coelce, 3rd Cycle tariff review: • The reduction of WACC from 9.95% to 7.5% after taxes was concluded in April 2012. This reduction in tariffs were mainly influenced by lower country risk, market risk premium, among other factors. Brazi
Slide 12: Regulation update: Argentina
Enersis consolidated results 1Q 2012 Regulation update: Argentina Generation: Asset portfolio • Hydro: 1,328 MW (Chocón) • Thermal: 2,324 MW (Costanera) Distribution: 2.4 million clients in Buenos Aires (Edesur) Total risk: Ch$ 124,180 million after Ch$ 106,750 million value adjustment in Dec.
Slide 13: Growth platform
Enersis consolidated results 1Q 2012 Growth platform Solid organic, and sustained growth in Distribution 380 thousand new customers in current distribution areas in 1Q 2012 in comparison to 1Q 2011. 2.8% increase in electricity consumption per household during the year. The future brings smart
Slide 14: A sound financial position
Enersis consolidated results 1Q 2012 A sound financial position Net debt evolution in 1Q 2012 Ch$ Million 2,723,516 2,655,097 • Enersis liquidity ex Endesa Chile covers 23 months of debt maturities including interest expenses • Enersis liquidity covers 22 months of debt maturities including interest
Slide 15: Conclusions 1Q 2012
Conclusions 1Q 2012 Expecting better conditions for the coming months The strong growth shown by the five countries and the economics expectations, help to guarantee the continues growing in electricity demand near to a 5%. Diversified portfolio, stable regulatory frameworks, increasing electric
Slide 16: Disclaimer
Enersis consolidated results 1Q 2012 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
Slide 17: We are here to help you
Call us! We are here to help you Ricardo Alvial Denisse Labarca Investment & Risk Director Head of Investor Relations mlmr@enersis.cl denisse.labarca@endesa.es 56 (2) 353-4682 56 (2) 353-4576 Melissa Vargas Jorge Velis Javier Hernández Carmen Poblete Investor Relations Investor Relations Investor Re
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enersis ay endesa hy endesa light - gas - people
Slide 19: Appendices
appendices
Slide 20: Installed capacity and output per country
Appendices 1Q 2012 Installed capacity and output per country¹ MW at 1Q 2012 Chile Colombia Brazil Peru Argentina Total Total 5,611 2,914 987 1,668 3,652 14,832 Hydro 3,456 2,471 665 746 1,328 8,666 Installed Coal 286 236 0 0 0 522 Capacity Oil-Gas 1,782 208 322 922 2,324 5,557 CHP / Renewables 87 0
Slide 21: Enersis: financial debt maturity calendar
Appendices 1Q 2012 Enersis: financial debt maturity calendar Debt by Country (Million Ch$) 2012 2013 2014 2015 2016 Balance TOTAL Chile 114,915 207,105 364,130 109,748 223,715 470,081 1,489,695 Argentina 69,092 55,997 30,864 17,087 16,703 - 189,743 Peru 47,101 54,482 53,224 41,093 43,533 110,496 349
Slide 22: Enersis: financial debt maturity calendar
Appendices 1Q 2012 Enersis: financial debt maturity calendar Debt maturity profile outstanding as of March 31, 2011 US$ million 2,500 1,961 2,000 1,500 1,391 952 1,000 763 549 377 443 500 299 291 144 200 123 0 < 1 year 1-2 years 2-3 years 3-4 years 4-5 years 5 years and beyond Bonds Banks and others
Slide 23: Enersis Group in Chile
Enersis’ unique business platform Enersis Group in Chile Generation Distribution ENDESA CHILE CHILECTRA Total Generation: 4,875 GWh Distribution area: Santiago de Chile Tarapacá Market Share¹: 34% 1.6 million customers Wind Hydro Thermal 31 Energy losses 5.5% 2,733 GWh 2.111 GWh GWh D. Almagro–Talta
Slide 24: Enersis Group in Colombia
Enersis’ unique business platform Enersis Group in Colombia Generation Distribution EMGESA CODENSA Total Generation: 3,073 GWh Distribution area: Bogotá Market Share: 18% Thermal 2.6 million customers Hydro 128 2,945 GWh GWh Energy losses 8.1% (96%) (4%) Ch$ Million 1Q 2012 1Q 2011 Change Ch$ Millio
Slide 25: Enersis Group in Peru
Enersis’ unique business platform Enersis Group in Peru Generation Distribution EDEGEL EDELNOR Total Generation: 2,273 GWh Distribution area: Northern Lima Market Share: 29% 1.2 million customers Hydro Thermal 1,327 GWh 946 GWh Energy losses 8.2% 58% 42% Ch$ Million 1Q 2012 1Q 2011 Change Ch$ Millio
Slide 26: Enersis Group in Brazil
Enersis’ unique business platform Enersis Group in Brazil Generation Total Generation: 975 GWh Market Share: 1.6% CACHOEIRA FORTALEZA Hydro Thermal 892 GWh 84 GWh Ch$ Million 1Q 2012 1Q 2011 Change Ch$ Million 1Q 2012 1Q 2011 Change Revenues 33,695 29,733 13.3% Revenues 32,334 42,587 -24.1% EBITDA 2
Slide 27: Enersis Group in Brazil
Enersis’ unique business platform Enersis Group in Brazil Distribution AMPLA COELCE Distribution area: Río de Janeiro State Distribution area: Ceara State 2.7 million customers 3.3 million customers Energy losses 19.4% Energy losses 12.0% Ch$ Million 1Q 2012 1Q 2011 Change Ch$ Million 1Q 2012 1Q 201
Slide 28: Enersis Group in Argentina
Enersis’ unique business platform Enersis Group in Argentina Generation Distribution Total Generation: 2,896 GWh EDESUR Market Share: 10% Distribution area: Southern Buenos Aires EL CHOCON 2.4 million customers Energy losses 10.5% Hydro 544 GWh Ch$ Million 1Q 2012 1Q 2011 Change Ch$ Million 1Q 2012
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enersis ay endesa hy endesa light - gas - people