Slide 1: Full Year and 4Q 2022 Earnings Presentation
Full Year and 4Q 2022 Earnings Presentation April 13, 2023
Slide 2: Quiñenco: Overview
QUIÑENCO: OVERVIEW 2022 RESULTS RESULTS OF MAIN OPERATING COMPANIES CONCLUSIONS
Slide 3: Quiñenco reports historical results in 2022
QUIÑENCO: OVERVIEW QUIÑENCO REPORTS HISTORICAL RESULTS IN 2022, BASED ON OUTSTANDING PERFORMANCE OF ITS OPERATING COMPANIES QUIÑENCO’S NET INCOME IN 2022 US$4.1 billion
Slide 4: One of Chile's largest business conglomerates with strong fundamentals
QUIÑENCO: OVERVIEW QUIÑENCO: ONE OF CHILE’S LARGEST BUSINESS CONGLOMERATES WITH STRONG FUNDAMENTALS Strong Commitment to Prestigious Controlling Sustainable Progress Shareholders Sound Financial Proven Track Record in Position Value Creation Diversified Chile risk with Dominant Market Positions incr
Slide 5: Value creation system: adds value through professional management of investments
QUIÑENCO: OVERVIEW Proven Track Record in VALUE CREATION SYSTEM: ADDS VALUE THROUGH PROFESSIONAL Value Creation MANAGEMENT OF ITS INVESTMENTS Acquisition Restructuring Max. Profitability Divest/Retain Acquisitions of companies Restructuring and Develop and maximize • Enersis • Startel administrative
Slide 6: Diversified investments: one of the most diversified holding companies in Chile
QUIÑENCO: OVERVIEW Diversified Chile Risk with increasing DIVERSIFIED INVESTMENTS: ONE OF THE MOST DIVERSIFIED International Presence HOLDING COMPANIES IN CHILE Investments by Sector(1) Net Asset Value(2) (NAV) (US$ 10.1 billion as of December 31, 2022) (US$ 7.8 billion as of December 31, 2022) (Per
Slide 7: Quiñenco increases its stake in SM SAAM and issues bonds
QUIÑENCO: OVERVIEW QUIÑENCO INCREASES ITS STAKE IN SM SAAM AND ISSUES BONDS ON LOCAL MARKET Bond issuance SM SAAM UF 5 MM +0.29% (US$215 to 60.02% as million) of Dec-22 28-years maturity with a 25-year grace period. • Increased to 61.02% as of January 2023 • Annual interest rate of 2.98%. • Use of f
Slide 8: Invexans Ltd sells one third of its stake in Nexans
QUIÑENCO: OVERVIEW INVEXANS LTD SELLS ONE THIRD OF ITS STAKE IN NEXANS ➢ 4,203,638 shares sold at €80 per share ➢ US$367 net funds received ➢ Stake reduced to 19%, maintaining position as reference shareholder ➢ Quiñenco estimates gain of US$148 million before taxes
Slide 9: Operating companies: other highlights during 2022 and start of 2023
QUIÑENCO: OVERVIEW OPERATING COMPANIES: OTHER HIGHLIGHTS DURING 2022 AND START OF 2023 ➢ Following its strategic focus to become a pure electrification player, Nexans enters agreement to divest its telecom systems business to private equity fund Syntagma Capital. ➢ 20th anniversary of joint venture
Slide 10: Uncertain times continue prevailing in Chile and globally
QUIÑENCO: OVERVIEW UNCERTAIN TIMES CONTINUE PREVAILING: IN CHILE AND GLOBALLY SECOND CONSTITUTIONAL PROCESS UNDERWAY IN CHILE ➢ Outcome of the process will be key for progress of current and future generations. ECONOMIC SLOWDOWN AND INFLATION STILL HIGH ➢ Worldwide inflation still high, and economic
Slide 11: 2022 Results
QUIÑENCO: OVERVIEW 2022 RESULTS RESULTS OF MAIN OPERATING COMPANIES CONCLUSIONS
Slide 12: Growing and diversified revenues
2022 RESULTS GROWING AND DIVERSIFIED REVENUES Quiñenco’s strategy has led to diversified revenues, posting strong growth in 2022 led by the Transport segment Consolidated Revenues(1) Aggregate Revenues by Sector(2) (MUS$) (YTD December 2022) Port Services Financial 1% Services 6% Beverage 47.8% 6% 9
Slide 13: Sound results
2022 RESULTS SOUND RESULTS Contribution from most of the operating companies increased in 2022 Net Income(1) Net Income by Segment(2) (MUS$) (MUS$) 4,131 86.7% 3,763 4,131 1,158 978 1,038 2,212 882 957 2,212 1,917 397 224 (83) 45 85 72 94 37 25 (232) 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2021 2022
Slide 14: Quiñenco's NAV
2022 RESULTS QUIÑENCO’S NAV Financial Debt : MUS$ 1,336 Cash : MUS$ 324 NFD : MUS$ 865 Other Net Assets: MUS$ 17 50% 50% 60.2% 66.5% 99,97% 99,85% IRSA NFD: MUS$276 NFD: MUS$222 51.3% 65.9% 28% 100% Mkt Cap: US$10.4 bln Mkt Cap: US$2.4 bln Mkt Cap: US$1.1 bln Mkt Cap: US$4.0 bln BV: US$220 mln Mkt C
Slide 15: Strong growth in NAV
2022 RESULTS STRONG GROWTH IN NAV An average annual compound growth rate of 9% in the net value of Quiñenco’s assets over the past 19 years(1) 7,873 7,788 7,366 Quiñenco-NAV(2) 6,858 6,541 6,565 (MUS$) 5,875 6,003 5,789 5,351 5,364 5,137 4,660 3,275 3,071 2,721 1,989 2,028 2,142 1,450 2003 2004 2005
Slide 16: Favorable performance of NAV, share price & dividends
2022 RESULTS FAVORABLE PERFORMANCE OF NAV, SHARE PRICE & DIVIDENDS Dividends Paid 56% NAV(1)/Share Price Trend (MCh$) as of December 31, 2022 1,063,492 50% 40% 30% 50% NAV: US$7.8 bln 4,500 $4,009 4,000 3,500 $2,870 123,624 3,000 54,370 72,172 63,015 2,500 2,000 2018 2019 2020 2021 2022 1,500 Percen
Slide 17: Quiñenco Holding conservative financial structure
2022 RESULTS QUIÑENCO HOLDING CONSERVATIVE FINANCIAL STRUCTURE Long term investments are financed with equity and long term debt in Chilean pesos . . . Assets Liabilities and Equity US$ 11.2 billion as of Dec/2022 US$ 11.2 billion as of Dec/2022 Cash ST Debt Other LT Debt 3% 1% 10% 11% Other Liabili
Slide 18: Low financial corporate debt
2022 RESULTS LOW FINANCIAL CORPORATE DEBT . . . maintaining low levels of debt through asset disposals and strong dividend flow . . . Net Debt (MUS$) 1200 0.4 0.35 1000 0.3 800 0.25 600 0.2 0.15 400 0.1 200 0.05 0 0 2018 2019 2020 2021 2022 Net Debt Debt/Capitalization MUS$ 2018 2019 2020 2021 2022
Slide 19: Diversified and healthy dividend cashflow
2022 RESULTS DIVERSIFIED AND HEALTHY DIVIDEND CASHFLOW . . . to the parent company based on good operating company performance Dividends Composition of Dividends (MUS$) (YTD December 2022) SM SAAM Banchile Vida IRSA/CCU LQIF/Banco de Chile CSAV/HL 1,113 SM SAAM IRSA/CCU 3% 3% LQIF/Banco de Chile 13%
Slide 20: Dividend proposal of approximately US$1.3 billion
2022 RESULTS QUIÑENCO ANNOUNCES DIVIDEND PROPOSAL OF APPROXIMATELY US$1.3 BILLION TO ANNUAL SHAREHOLDERS’ MEETING Minimum dividend corresponding to 30% of net income: ~US$1,300 million Payable as of May 26th, 2023. 21
Slide 21: Results of main operating companies
QUIÑENCO: INTRODUCTION 2022 RESULTS RESULTS OF MAIN OPERATING COMPANIES CONCLUSIONS
Slide 22: Main operating companies: Banco de Chile
MAIN OPERATING COMPANIES Banco de Chile
Slide 23: Banco de Chile: operating revenues, ROAE, expected credit losses
Contribution of Financial Services to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 397 224 2021 2022 Operating Revenues 41.7% ROAE (MUS$) 31.4% 15.2% 3,641 2,569 20.2% 18.7% 17.5% 909 941 989 817 801 12.8% 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2021 2022 2018 2019 2020 2021 2022 Customer N
Slide 24: Main operating companies
MAIN OPERATING COMPANIES 25
Slide 25: CCU: sales, EBITDA by business segment
Contribution of IRSA in Other to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 68 31 2021 2022 Sales EBITDA* by Business Segment (MUS$) (YTD December 2022) Wine 13% 9.1% -6.6% 3,168 961 818 799 898 International 2,903 653 Business 27% Chile 60% 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2021 20
Slide 26: Invexans and Manufacturing net income
Contribution of Manufacturing to Contribution of Energy to Quiñenco´s MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 85 Net Income (MUS$) 94 72 45 2021 2022 2021 2022 OWNERSHIP STRUCTURE (December 2022) Net Income (MUS$) -32.7% 24.4% 99.85% 168 89 135 45 26 30 22 28.5% 100% 4Q 2021 1Q 2022 2Q
Slide 27: Main operating companies: Nexans
MAIN OPERATING COMPANIES ING xene
Slide 28: Nexans: sales by key end markets
Contribution of Manufacturing to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 85 45 2021 2022 Sales SALES* BY KEY-END MARKETS (YTD December 2022) Distribution (M€) Other Activities 10.7% 13.5% 15% 19% 8,369 4,342 4,027 Usages 7,374 Industry & 30% 3,639 Solutions 21% Telecom & Data Generatio
Slide 29: Main operating companies
MAIN OPERATING COMPANIES
Slide 30: Enex: sales, EBITDA, operating income
Contribution of Energy to Quiñenco´s MAIN OPERATING COMPANIES Net Income (MUS$) 94 72 2021 2022 Sales EBITDA (MUS$) (YTD December) 54.3% 27.7% 41.3% 214 5,242 167 1,505 3,398 1,410 1,228 1,070 1,098 108 90 59 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2021 2022 2018 2019 2020 2021 2022 Operating Income
Slide 31: Main operating companies: CSAV
MAIN OPERATING COMPANIES BICSAV | ee anage rattle
Slide 32: CSAV: operating income and assets by business area
Contribution of Transport to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 3,763 1,917 2021 2022 Operating Income (Loss) ASSETS BY BUSINESS AREA (MUS$) (December 2022) Other 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q2021 2021 2022 11% (4) (7) (9) (12) (23) Hapag- (16) Lloyd (38) 89% 66.6% 31.9% Non-
Slide 33: Hapag-Lloyd: sales, transported volume, EBITDA
Contribution of Transport to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 3,763 1,917 2021 2022 Sales TRANSPORTED VOLUME BY TRADE (MUS$) (YTD December 2022) Africa -5.3% 38.1% 6% Atlantic Latin America 18% 36,401 25% 26,356 9,606 9,878 Transpacific 8,411 8,956 14% 7,962 Intra-Asia 5% Far Ea
Slide 34: Main operating companies
MAIN OPERATING COMPANIES
Slide 35: SM SAAM: sales, EBITDA mix, operating income
Contribution of Port Services to MAIN OPERATING COMPANIES Quiñenco´s Net Income (MUS$) 37 25 2021 2022 Sales EBITDA MIX* (YTD December 2022) Others (MUS$) 13.3% 7% 15.2% 462 202 207 118 124 108 408 Tug boats 93% 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2021 2022 * Excludes Others. Operating Income Ne
Slide 36: Conclusions
QUIÑENCO: INTRODUCTION 2022 RESULTS RESULTS OF MAIN OPERATING COMPANIES CONCLUSIONS
Slide 37: Outlook
CONCLUSIONS OUTLOOK FACTORS THAT CONTRIBUTE TO QUIÑENCO’S ABILITY TO PURSUE AND UNDERTAKE NEW INVESTMENT OPPORTUNITIES PORTFOLIO HEALTHY STRONG CASH OPTIMIZATION FINANCIAL STRUCTURE POSITION • Good performance of main • Sound financial indicators • Strong cash levels operating companies • Well struc
Slide 38: Q&A Session
Q&A SESSION Please send your questions using the Q&A option
Slide 39: Thank you for your attention
i JUINENCO S.A, y Q A. THANK YOU FOR YOUR ATTENTION