Enel Chile SA · BCS:ENELCHILE

Enel Chile SA — Endesa Chile — Investor Presentation (April 2009)

22 slides from Enel Chile SA's investor presentation, Apr 23, 2009

  1. Slide 1: IFRS Adoption Communication Plan

    IFRS Adoption Communication Plan >> April 23, 2009

  2. Slide 2: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  3. Slide 3: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  4. Slide 4: 1. General Aspects

    1. General Aspects The following presentation contains audited accounting data from fiscal year ending December 31st, 2008, under Chilean accounting principles. The Company has conducted a theoretical exercise, legally unbinding, exercise with these figures in order to determine how they would chang

  5. Slide 5: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  6. Slide 6: 2. Main Impact on Statement of Financial Position (Balance Sheet)

    2. Main Impact on Statement of Financial Position (Balance Sheet) ™ Purchased Goodwill The lower figures recorded since 2004 should rebound. This means a reversal in amortizations accrued from January 1st, 2004 to December 31, 2008 against 2008 capital (first-time adjustment). Consequence: an increa

  7. Slide 7: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  8. Slide 8: 3. Comparison of Statement of Financial Position under Chilean GAAP and IFRS

    3. Comparison of Statement of Financial Position under Chilean accounting principles and IFRS Statement of Financial Position CONSOL. CHILEAN ADJUSTMENTS RECLASSIFICATIONS CONSOL.IFRS GAAP 12/31/2008 IFRS 12/31/2008 ( Million Ch$ ) ASSETS Total Current Assets 1,168,792 75,121 - 1,243,913 Total Fixed

  9. Slide 9: 3.1 Summary of Main Changes to Endesa's Assets and Liabilities

    3.1 Summary of Main Changes to Endesa’s Assets and Liabilities ‐6% 7,142,356 (407,634) 6,734,722 The Total Assets Decrease aforementioned indicates that the 2008 Cons.under Adjustments 2008 Cons. changes do not Chilean GAAP under IFRS imply greater financial 12 % indebtedness for the company 4,032,7

  10. Slide 10: 3.2. Current Assets

    3.2. Current Assets ™Ch$77,946 million, incorporation of Gasatacama, Transquillota and Hidroaysén through proportional integration. ™ Ch$-3,751 million, deferred 75,121 taxes s/t. ‐56.275 1,168,792 1,243,913 2008 Cons.under Adjustments Cons. NIIF 2008 Chilean GAAP Under Chilean GAAP: Under IFRS: Joi

  11. Slide 11: 3.3. Fixed Assets

    3.3. Fixed Assets ™ Ch$ -712,828 million: Eliminating effects of BT64 and (500,720) price-level restatement. ™ Ch$ 229,319 million: Incorporation of Gasatacama, Transquillota and Hidroaysén through proportional 5,040,757 integration. 4,540,037 2008 Cons.under Adjustments 2008 Cons. Chilean GAAP unde

  12. Slide 12: 3.4. Other Assets

    3.4. Other Assets ™Ch$ 123,710 million, goodwill is recomposed at the beginning of the transition, thus reversing the amortizations carried out up to 2008 (first time adjustment). ™Ch$ 169,773 million, deferred tax 17,965 liabilities are not net of assets under IRFS. 932,807 950,772 ™Ch$-158,600 mil

  13. Slide 13: 3.5. Current Liabilities

    3.5. Current Liabilities ™ Ch$ 86,627 million from recording minimum dividend. ™ Ch$ 50,777 million from incorporating Gasatacama, Transquillota and Hidroaysén 134,042 through proportional integration. 1,221,111 1,355,153 2008 Cons. under Adjustments 2008 Cons. Chilean GAAP under IFRS Under Chilean

  14. Slide 14: 3.6. Long-term Liabilities

    3.6. Long-term Liabilities ™ Ch$ 262,661 million from recording deferred taxes generated from splitting deferred tax assets, new adjustments, and the elimination of supplementary accounts under BT60. 313,611 ™ Ch$ 62,002 million from 2,677,615 incorporating Gasatacama, 2,364,004 Transquillota and Hi

  15. Slide 15: 3.7. Summary of Main Changes to Equity

    3.7. Summary of Main Changes to Equity ™ Ch$-42,226 million. Effects of BT64 on foreign investments and goodwill are ‐24% eliminated. 3,557,241 (855,287) ™ Ch$-33,941 million. Effects of deferred taxes. 2,701,954 ™Ch$-10,793 million. Adjustment to Minority Interest (89,493) Investments in Related Co

  16. Slide 16: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  17. Slide 17: 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS

    4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS Income Statement Consolidated Chilean GAAP Consolidated IFRS ( Million of Ch$ ) 12/31/2008 01/01/2009 Operating Income 893,360 871,235 Non-Operating Income (84,696) (101,975) Income before taxes 808,664 769,260 Profit(loss) before mi

  18. Slide 18: 4.1. Operating Income

    4.1. Operating Income ‐2% 893,360 8,510 (30,635) 871,235 2008 Cons. under Adjustments Reclassifications 2008 Cons. Chilean GAAP under IRFS The 2% drop is essentially due to the following: • An adjustment in fixed asset depreciation in keeping with the functional currency. • Incorporation of companie

  19. Slide 19: 4.2. Non-Operating Income

    4.2. Non-Operating Income ‐20% (47,914) (101,975) (84,696) 30,635 2008 Cons. under Adjustments Reclassifications 2008 Cons. Chilean GAAP Under IFRS The 20% decrease is essentially due to the following changes: • Elimination of BT64 conversion effect generated by foreign subsidiaries (Ch$ 39,762 mill

  20. Slide 20: 4.3. Net Income (Parent Company)

    4.3. Net Income (Parent Company) ‐2% 442,592 (9,415) 0 433,177 2008 Cons. under Adjustments Reclassifications 2008 Cons. Chilean GAAP under IFRS The negative 2% change in the parent company’s net income is due to the previously highlighted accounting differences in operating income and non-operating

  21. Slide 21: Table of Contents

    Table of Contents 1. General Aspects 2. Main Impact on Statement of Financial Position (Balance Sheet) 3. Comparison of 2008 Statement of Financial Position under Chilean GAAP and IFRS 4. Comparison of 2008 Income Statement under Chilean GAAP and IFRS 5. Conclusions

  22. Slide 22: 5. Conclusions

    5. Conclusions Migration of Endesa Chile into IFRS will imply greater stability in terms of results since previous accounting standards originated a high level of volatility (BT 64 and price-level restatement). Migration of Endesa Chile into IFRS will simplify the analysis, interpretation and unders

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