Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Investor Day (June 2017)
16 slides from Enel Chile Sa's investor day presentation, Jun 1, 2017
Slide 1: Enel Chile Analyst Update Meeting 2017
Enel Chile Analyst Update Meeting 2017 Raffaele Grandi June 1st, 2017
Slide 2: Capital expenditures (US$ mn)
Enel Chile Capital expenditures (US$ mn) + 122% 1,361 675 441 406 281 65 183 122 686 59 61 376 284 222 121 2013 2014 2015 2016 Target 2017 - 2019 Gx Dx Historical investment higher in generation with a progressive switch to distribution in future years 2
Slide 3: Industrial growth 2017-2019
Enel Chile Industrial growth 2017-2019 Total CAPEX 2017-2019 (US$ mn) Growth CAPEX by business (US$ mn) Maintenance CAPEX by business (US$ mn) -24% +0.5% 219 181 182 68 472 1,361 167 52 73 Distribution 889 Generation 152 149 Other 124 102 17 5 8 Growth Maintenance 2016 2019 2016 2019 Confirming the
Slide 4: Gross and Net Debt (US$ MM)
Enel Chile Gross2 and Net Debt2 (US$ MM) Gross and Net Debt Gross Debt1 by type Gross Debt by currency2 0.1% 2% Others 8% Local UF + CLP 42% Bonds 1,273 1,274 Dollars 92% 56% International 367 536 Bonds 906 738 1Q17 1Q17 2016 1Q17 1Q17 liquidity breakdown; Net Debt Cash • Cash: US$ 536 MM • Committe
Slide 5: Healthy debt maturity profile
Enel Chile Healthy debt maturity profile Total Debt1&2: US$ 1,274 mn 1.200 1,067 1.000 800 600 400 200 75 8 3 8 3 3 45 3 45 4 10 0 < 1 year 1-2 years 2-3 years 3-4 years 4-5 years 5 years and beyond Bonds Banks and Other 1. Financial debt after derivatives structure and do not include accrued intere
Slide 6: Strong financial position (US$ mn)
Enel Chile Strong financial position (US$ mn) Item 2015 2016 2019 Gross Debt1 1,331 1,314 1,273 Cash 203 367 517 Net Debt 1,128 947 756 EBITDA 1,032 1,133 1,456 Net Debt / EBITDA 1.1 0.8 0.5 Gross Debt / Total Equity 0.3 0.3 0.2 Financial Coverage 10.1 13.3 17.2 1. Gross debt includes financial expe
Slide 7: Solid results lead sound dividends
Enel Chile Solid results lead sound dividends Attributable Net Income (US$ mn) Dividend to be paid (Ch$ per share) +57.0% 3.2 2.11 2.53 584 486 372 0.82 2015 2016 2015 * 2016 * March - December 2016 Interim Final Payout will increase from current 50% by 5% every year until 2020 to 70% 1. On 2015, En
Slide 8: Dividend payout ratio will increase to 70% in 2020
Enel Chile Dividend payout ratio will increase to 70% in 2020 70% 65% 60% 55% 50% 2016 2017 2018 2019 2020 • Enel Chile will pay US$ 1.3 bn in dividends within the period 2017 – 2019. • Enel Chile paid its first definitive dividend of Ch$ 2.09 per share1 on May 24th. • Enel Chile proforma dividend 2
Slide 9: Dividend yield comparable peers
Enel Chile Comparable Peers 10 mo nths Dividend yield of operations 5,2% 4.8% 4.9% 4.0% 1.8% CGE ECL AES Gener Colbun Enel Ch 9 Source: Bloomberg and SVS. Considers closing share price for 2016 and dividends effectively paid with charge to the 2016 results as of May 31, 2017.
Slide 10: 2017-19 Cash flow generation (US$ bn)
Enel Chile 2017-19 Cash flow generation (US$ bn) 0.5 0.9 3.2 2.7 1.3 1.8 0.5 FFO (1) Maintenance FFO after Net growth FCF before Dividends paid FCF (2) CAPEX Maint. CAPEX CAPEX Dividends (3) Strong cash flow generation with a growing dividend payout ratio 1. Funds from operations after taxes. 2. Bef
Slide 11: Financial market activities
Enel Chile Financial market activities • 9 International conferences planned during 2017 Non Deal Roadshow (USA-Canada-Europe-Asia) Conferences (NY-LA-London- Lima) Chile Day 2017 (London) • Approximately, 130 meetings with analysts during 2016 and a total of 120 analysts participating in quarter
Slide 12: Price share evolution (YTD)
Enel Chile Price share evolution (YTD) 35% 30% 25% 20% 15% Enel Américas 21,8% 10% Enel Chile 28,0% 5% IPSA 18,1% 0% Enel Gx 25,5% -5% AES Gener 7,4% -10% Colbún 20,0% -15% 13-feb-17 20-feb-17 27-feb-17 6-feb-17 10-abr-17 17-abr-17 24-abr-17 3-abr-17 16-ene-17 23-ene-17 30-ene-17 13-mar-17 20-mar-17
Slide 13: Closing remarks
Enel Chile Closing remarks Develop a strategy of “sustainable” growth in line with the communities needs focusing on small-middle sized projects Gx Robust long term contract portfolio perfectly hedges production capability Aggressive commercial strategy boosting the business beyond regulated market
Slide 14: Closing remarks
Enel Chile Closing remarks Strong presence in all market segments Stable growth in all businesses Further progress expected in structure simplification Confirmed dividend policy, increasing payout by 5% every year reaching 70% in 2020 Cost efficiency ahead of plan 14
Slide 15: Enel Chile & Enel Generación Chile IR Team
Enel Chile & Enel Generación Chile IR Team Susana Rey Catalina González Head of IR Enel Chile Head of IR Enel Generación Chile +56 2 2630 9606 +56 2 2630 9603 susana.rey@enel.com catalina.gonzalez@enel.com Guillermo Berguecio Francisco Basauri Analyst of IR Enel Generación Chile Analyst of IR Enel G
Slide 16: Disclaimer
Enel Chile 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, bel