Slide 1: Endesa Chile 1H2011 Results
Endesa Chile 1H2011 Results
Slide 2: Highlights in 1H2011
Endesa Chile consolidated results 1H2011 Highlights in 1H2011 Growth in electricity demand (+5.8%) in the region Growth in sales volumes (+3.5%) primarily in Argentina, Peru and Colombia Growth in energy purchases in Chile (+14.6%) One-off net worth tax in Colombia (MMUS$84 ) Growth in related compa
Slide 3: Results affected by the drought in Chile and taxes in Colombia
Endesa Chile consolidated results 1H2011 Results affected by the drought in Chile and taxes in Colombia Th US$ * Th € ** Million Ch$ 1H 2011 1H 2010 Change 1H 2011 1H 2011 Revenues 1,176,178 1,178,571 -0.2% 2,473,144 1,762,196 Gross Margin 504,733 592,603 -14.8% 1,061,299 756,210 EBITDA 387,597 503,
Slide 4: EBITDA Generation
Endesa Chile consolidated results 1H2011 EBITDA Generation Total Installed Capacity: 13,845 MW Total Generation (TTM) : 52,163 GWh Argentina Argentina 26% 22% Chile Chile 41% 39% Peru Peru 12% 17% Colombia EBITDA June 2011 (TTM) : Colombia 21% US$ 2.006 million 22% Argentina 6% Peru 12% Chile 53% Co
Slide 5: Conservative commercial policy
Endesa Chile consolidated results 1H2011 Conservative commercial policy Physical Sales as of June 2010 Chile Colombia Peru Argentina 9% 24% 11% 19% 23% 33% 58% 58% 18% 66% 81% Regulated Unregulated Spot Physical Sales as of June 2011 Chile Colombia Peru Argentina 1% 9% 30% 17% 33% 26% 50% 66% 65% 20
Slide 6: Strong financial position
Endesa Chile consolidated results 1H2011 Strong financial position (Million US$) 1H10 1H11 Chg. Chg % Gross Debt 3,960 4,269 309 7.8% Cash 169 489 320 189.3% Net Debt 3,791 3,780 (11) -0.3% Leverage 0.99 0.92 (0.07) -7.1% Interest Coverage 7.8 5.5 (2) -29.3% Debt by Country Debt by Type Debt by Curr
Slide 7: Analysis by country - Argentina
Endesa Chile consolidated results 1H2011 Analysis by country - Argentina Installed Capacity: 3,652 MW Market Share: 13% EL CHOCON Hydro El Chocón: 1,328 MW 1,328 MW Million Ch$ 1H 2011 1H 2010 Change Revenues 23,183 29,243 -20.7% CIEN Line (2x1.050 MW) EBITDA 12,182 18,550 -34.3% Interconnection 5
Slide 8: Analysis by country - Colombia
Endesa Chile consolidated results 1H2011 Analysis by country - Colombia Installed Capacity: 2,915 MW Market Share: 21% EMGESA Cartagena Guavio: 1.213 MW Betania: 541 MW Hydro Río Bogotá: 717 MW 2,471 MW Bogota Cartagena: 208 MW Thermal Termozipa: 236 MW 444 MW Million Ch$ 1H 2011 1H 2010 Change Reve
Slide 9: Analysis by country - Peru
Endesa Chile consolidated results 1H2011 Analysis by country - Peru Installed Capacity: 1,668 MW Market Share: 26% EDEGEL Cuenca Río Rímac: 553 MW Yanango: 43 MW Hydro Chimay: 151 MW 747 MW Ventanilla: 492 MW Thermal Santa Rosa: 429 MW 921 MW Lima: • Edegel (Gx) Million Ch$ 1H 2011 1H 2010 Change Re
Slide 10: Analysis by country - Chile
Endesa Chile consolidated results 1H2011 Analysis by country - Chile Installed Capacity: 5,611 MW Market Share: 35% Tarapacá ENDESA CHILE Los Molles: 18 MW Rapel-Sauzal: 466 MW Hydro D. Almagro–Taltal Maule: 884 MW Laja: 940 MW 3,465 MW Huasco Ralco-Pangue: 1,157 MW Los Molles Tarapacá-G.Atacama: 57
Slide 11: Analysis by country - Brazil
Endesa Chile consolidated results 1H2011 Analysis by country - Brazil Installed Capacity: 987 MW Market Share: 1% CACHOEIRA Fortaleza Cachoeira: 665 MW Hydro 665 MW Million Ch$ 1H 2011 1H 2010 Change Revenues 59,300 52,876 12.1% Rio de Janeiro EBITDA 43,710 36,758 18.9% EBITDA Margin 73.7% 69.5% 6.0
Slide 12: Projects under construction
Endesa Chile consolidated results 1H2011 Projects under construction BOCAMINA II Location: next to the existing coal-fired plant Bocamina I in Bío-Bío Region Installed capacity: 370 MW Fuel type: imported coal February 2010 earthquake damaged some parts of the construction Estimated start-
Slide 13: Projects under study
Endesa Chile consolidated results 1H2011 Projects under study Los Condores, hydro Neltume, hydro power plant run-of-the-river plant Installed capacity: Installed capacity: 150 MW 490 MW Piruquina, mini-hydro run- Choshuenco, hydro power of-the-river plant plant Installed capacity: Installed
Slide 14: Market Value and Dividends
Endesa Chile consolidated results 1H2011 Market Value and Dividends CAGR = 11% Market Value 16,000 15,365 15,000 13,954 (US$ m) 14,000 13,000 12,000 11,000 10,072 10,393 10,000 9,428 9,000 8,000 2006 2007 2008 2009 2010 (Ch$ x share) CAGR = 25% 32.5 Dividends 26.8 25 21.3 15 13.4 13.8 5 2006 2007 20
Slide 15: Conclusions 1H11
Endesa Chile consolidated results 1H2011 Conclusions 1H11 Diversified portfolio Revenues and margin stability Non-recurrent accounting effect Tough electric situation 15
Slide 16: Endesa Chile's Investor Relations Team
Endesa Chile consolidated results 1H2011 Endesa Chile’s Investor Relations Team Susana Rey Investor Relations Director (56-2) 630 96 06 susana.rey@endesa.cl Irene Aguilo Juan Pablo Vicuña Investor Relations Executive Investor Relations Executive (56-2) 630 9604 (56-2) 630 5585 imal@endesa. cl jpvp@e
Slide 17: Ownership structure
Endesa Chile consolidated results 1H2011 Ownership structure 92% 61% Chilean Pension Other Inst. Minority ADR Holders Funds Shareholders Shareholders 60% 16% 4% 16% 4% Pehuenche San Isidro Emgesa Edegel Costanera Endesa Brasil 92% 100% 27% 62% 70% 39% Pangue Endesa Eco El Chocón Ampla 95% 100% 65% C
Slide 18: A unique portfolio in Latam's Generation business
Endesa Chile consolidated results 1H2011 A unique portfolio in Latam’s Generation business Colombia N°1 Brazil 2,914 MW inst. capacity 987 MW inst. capacity 22% market share 1% market share in generation Peru N°1 1,668 MW inst. capacity 26% market share Argentina N°1 Chile N°1 3,652 MW inst. capacit
Slide 19: Installed capacity, output
Endesa Chile consolidated results 1H2011 Customers Installed capacity, output MW as of 1H 2011 Chile Brazil Peru Colombia Argentina Total Total 5,611 987 1,668 2,914 3,652 14,832 Hydro 3,456 665 746 2,471 1,328 8,666 Installed Coal 286 0 0 236 0 522 Capacity Oil-Gas 1,782 322 922 208 2,324 5,557 CHP
Slide 20: Comfortable debt maturity
Endesa Chile consolidated results 1H2011 Comfortable debt maturity Financial Debt US$ MM 2011 2012 2013 2014 2015 2016 Balance TOTAL Chile 128,7 84,8 422,0 150,6 222,4 0,2 1.188,5 2.197 Argentina 79,0 73,1 44,2 43,9 30,4 - 17,1 288 Perú 34,8 59,9 51,0 49,9 33,7 6,0 180,0 415 Colombia 174,1 171,3 - 7
Slide 21: Strong financial ratios
Endesa Chile consolidated results 1H2011 Strong financial ratios Net debt/EBITDA 3 2.5 2 2.5x 1.5 1.6x 1.5x 1.5x 1.5x 1 Endesa Chile‘s investment grade 0.5 status restored 0 2007 2008 2009 Dec-10 Mar-11 EBITDA/Net financial expenses 9 7.7 8.3 8.2 8 6.5x 7 6 5 4 5.0x Endesa Chile’s 3 2 investment gra
Slide 22: Integrated risk management capability
Endesa Chile consolidated results 1H2011 Integrated risk management capability Target output and sales in Risk variables affecting margins future years Rainfall 100% Growth in demand Extreme Fuel prices hydro volatility Spot Exchange rates Inflation Hydro 75% Regulated Risk limit and free
Slide 23: Historic electricity demand growth
Endesa Chile consolidated results 1H2011 Historic electricity demand growth 23
Slide 24: HidroAysén: Energy vs. flooded surface
agregarvaloralainversióndenuestrosaccionistas HidroAysén Energy vs. flooded surface GWh per year / hectare 3.5 One of the most efficient hydroelectric projects in the world 3.0 Renewable resources Average load factor 77% 2.5 2.0 1.5 1.0 0.5 - Rapel Itaipú Karáhnjukar Hidroaysen Installed capa
Slide 25: Seasonal Variation of River Flows in the SIC and HidroAysén
Seasonal Variation of River Flows in the SIC and HidroAysén 1,400 1,400 1,200 1,200 1,000 1,000 Water Flow [ m³ /s] 800 800 600 600 400 400 200 200 - - Apr-10 may jun jul ago sep oct nov dec Jan-11 feb mar Tim eline MAIPO RIVER IN CABIMBAO BIOBIO RIVER IN RUCALHUE MAULE IN ARMERILLO (R.N.) CENTRAL B
Slide 26: endesaciiic
endesaciiic fae | ? hy endesa light - gas - people 26