Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Endesa Chile — FY2014 Earnings Presentation
26 slides from Enel Chile Sa's earnings presentation, Jan 30, 2015
Slide 1: Endesa Chile YE14 Results
Endesa Chile YE14 Results January 30th 2015
Slide 2: Highlights
Highlights Operating revenues increased 21%, mainly due to higher energy sales, as a consequence of higher sale price of electricity in Chile, Colombia and Peru, along with the full consolidation of GasAtacama Hydro generation increased 10% due to better water availability in Chile, Colombia and Arg
Slide 3: Consolidated financial highlights
Consolidated financial highlights 1 MM US$2 Ch$ million 2014 2013 Change 2014 Revenues 2,446,534 2,027,432 21% 4,289 Costs (1,119,457) (830,873) 35% (1,963) Contribution Margin 1,327,077 1,196,559 11% 2,327 EBITDA 1,094,981 978,994 12% 1,920 EBIT 875,321 782,839 12% 1,535 Net Financial Expenses (68,
Slide 4: Diversified source of EBITDA
Diversified source of EBITDA Total Installed Capacity1: Total Generation: 14,715 MW 49,835 GWh Argentina 25% Argentina 19% Chile 36% Chile 43% Peru Peru 18% 11% Colombia Colombia 27% 21% EBITDA 2014 US$ 1,920 million Argentina 4% Peru 17% Chile 34% Enel Brasil • Endesa Chile’s ownership: 37.1%. • Ne
Slide 5: Balanced commercial policy
Balanced commercial policy Physical Sales as of December 2014 Chile Colombia Peru Argentina 6% 6% 8% 19% 30% 49% 39% 55% 75% 21% 92% Distribution Companies Free Customers Spot Physical Sales as of December 2013 Chile Colombia Peru Argentina 7% 11% 14% 28% 20% 52% 51% 38% 73% 20% 86% Distribution Com
Slide 6: Healthy debt maturity profile
Healthy debt maturity profile Financial Debt Maturity1 as of December 2014 • Cash: 2,500 2,186 US$ million US$ 552 MM; Total Debt: US$ 3,505 MM 2,000 (US$ 584 MM including >90 days cash investments) 1,500 • Committed Credit Lines: 1,000 US$ 481 MM 500 319 • Non-Committed Credit Lines: 179 218 126 28
Slide 7: Consistent consolidated cash flow generation
Consistent consolidated cash flow generation (US$ million)1 1,920 1,770 1,461 643 624 399 (121) (266) (248) (331) (370) (465) (528) (418) (739) EBITDA Net Financial Expenses Payments for Additions of Fixed Income Tax Free Cash Flow Assets 2012 2013 2014 1Amounts translated into US$ at the average ex
Slide 8: Argentina
Argentina Installed Capacity: 3,652 MW Market Share*: 12% Total Generation: 9,604 GWh EL CHOCON Hydro El Chocón: 1,328 MW 1,328 MW Million US$ 2014 2013 Change Revenues 53 64 (18% ) EBITDA 28 29 (2% ) EBITDA Margin 53.3% 44.8% 19% Physical Sales (GWh) 3,391 3,392 (0% ) Buenos Aires Costanera COSTANE
Slide 9: Chile
Chile Installed Capacity: 6,351 MW Market Share*: 32% Total Generation: 18,063 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: 3,059 MW Market Share*: 20% Total Generation: 13,559 GWh Cartagena EMGESA Guavio: 1,213 MW Betania: 541 MW 85% Hydro 2,615 MW Termozipa Río Bogotá: 861 MW Bogotá Guavio Cartagena: 208 MW 15% Thermal Betania Termozipa: 236 MW 444 MW Río Bogotá Million US$ 2014 2013 Change
Slide 11: Peru
Peru Installed Capacity: 1,652 MW Market Share*: 19% Total Generation: 8,609 GWh EDEGEL Cuenca Río Rímac: 561 MW 46% Hydro Yanango: 43 MW 755 MW Chimay: 151 MW Ventanilla: 485 MW 54% Thermal Ventanilla 898 MW Santa Rosa: 413 MW Lima Río Rimac Yanango Sta Rosa Chimay Million US$ 2014 2013 Change Reve
Slide 12: Brazil
Brazil Installed Capacity: 987 MW Market Share*: 1% Total Generation: 5,225 GWh CACHOEIRA Fortaleza Cachoeira: 665 MW Hydro 665 MW Million US$ 2014 2013 Change Revenues 279 206 35% Cachoeira EBITDA 138 155 (11% ) Rio de Janeiro EBITDA Margin 49.5% 75.2% (34% ) Physical Sales (GWh) 3,903 3,564 9% CIE
Slide 13: Installed capacity added in 2014
Installed capacity added in 2014 Colombia Salaco Chain (optimization) • Upgreaded 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 and were completed in December 2014. • 145 MW of
Slide 14: Installed capacity added in 2014: GasAtacama stake purchase
Installed capacity added in 2014 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 Meji
Slide 15: Projects under construction
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%. • 86% completion as of Dec 31, 2014 . • Beginning the work to prepar
Slide 16: Projects under construction
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 generation of 600 GWh/year. • Estimated load factor: 46%. • Total CAPEX of US$ 662 million. • 9% progress
Slide 17: Expected evolution for Endesa Chile´s installed capacity
Expected evolution for Endesa Chile´s installed capacity 17% increase in installed capacity through new projects Hydro plant Thermal plant 678 MW Curibamba - 188 MW 670 MW Punta Alcalde - 740 MW Curibamba - 188 MW 925 MW Taltal - 120 MW Neltume - 490 MW Los Cóndores - 150 MW Neltume - 490 MW Salaco-
Slide 18: Summary
Summary Better Operations Results for the year 2014 Diversified portfolio Net Income affected by Non Operating effects Bocamina II temporary Shutdown Investments 18
Slide 19: Endesa Chile´s Investor Relations Team
Endesa Chile´s Investor Relations Team Susana Rey Catalina Gonzalez Head of Investor Relations Investor Relations Senior (56) 22630 9606 Analyst susana.rey@endesa.cl (56) 22630 9603 cbgs@endesa.cl Guillermo Berguecio Francisco Basauri Investor Relations Analyst Investor Relations Analyst (56) 22630
Slide 20: Exhibits
EXHIBITS 20
Slide 21: Strong financial position
Strong financial position Th US$1 Ch$ Million 2014 2013 Change % Change 2014 Gross Debt 2,116,462 1,894,496 221,966 10% 3,488 Cash 336,629 323,807 12,821 4% 555 Net Debt 1,779,833 1,570,689 209,144 12% 2,933 Leverage 1.05 0.88 0.14 16% 1.05 Financial Coverage 6.66 6.30 0.36 5% 6.66 1Amounts translat
Slide 22: Installed capacity and energy generation
Installed capacity and energy generation MW CHILE COLOMBIA PERU ARGENTINA TOTAL HYDRO 3,456 2,615 755 1,328 8,154 COAL Installed 636 236 - - 872 Capacity (MW) OIL-GAS 2,173 208 898 2,324 5,602 NCRE 87 - - - 87 Total 6,351 3,059 1,652 3,652 14,715 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 December 2014 US$ 2015 2016 2017 2018 2019 Balance TOTAL million Chile 313 11 11 11 53 1,200 1,600 Argentina 43 26 4 1 1 39 115 Peru 38 98 51 37 17 28 269 Colombia 104 8 88 108 168 1,044 1,521 TOTAL2 498 143 155 157 240 2,
Slide 24: Projects under study
Projects under study Chile Taltal (Conversion) • Closure to upgrade the existing LNG power plant, to a Combined Cycle Gas Turbine Power Plant. • Located in the Antofagasta region (SIC), Chile. • 120 MW will be added to the current 245 MW capacity. • EIS2 submitted for approval in Dec 2013. Chile Nel
Slide 25: Projects under study
Projects under study Perú Curibamba • Hydro power plant, run of the river. • Located in the Junín Department, utilizes the flow coming from the Comas and Uchubamba Rivers. • 188 MW of installed capacity. • EIS1 approved. • Load Factor: 63% with an estimated generation of 1,060 GWh/Year. 1 Environmen
Slide 26: 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