Slide 1: Enersis 9M 2014 results
Enersis 9M 2014 results 29/10/2014
Slide 2: Highlights
Consolidated results 9M 2014 Highlights Since October 23rd Enersis became a company directly held by Enel Group Enersis - Investor Relations On November 25th Enersis will hold an Extraordinary Shareholder Meeting regarding Central Dock Sud capital increase proposal in Argentina Overall EBITDA in 9M1
Slide 3: Enel restructuring process
Consolidated results 9M 2014 Enel reestructuring process Enersis sale to Enel: On October 23, Endesa, S.A. finalized the sale of its Enersis S.A. shares to Enel Energy Europe, S.R.L., equal to 20.3%. Additionally, Endesa, S.A. sold 100% of the shares of Endesa Latinoamérica, S.A. (which owned 40
Slide 4: Central Dock Sud
Consolidated results 9M 2014 Central Dock Sud The Operation has the purpose of reestablishing the net equity of Inversora Dock Sud S.A. and Central Dock Sud S.A. (CDS), Enersis S.A.‟s Argentinean subsidiaries through a capital increase in both companies, where: Shareholders will capitalize the e
Slide 5: Business context in 9M 2014
Consolidated results 9M 2014 Business context in 9M 2014 Electricity demand (%) Generation Output (TWh) +3.2(1,2) +3.9%(3) +3.1(1) 5.3% 4.8% Enersis - Investor Relations 4.0% 4.6% 4.4% 14.3 13.0 2.7% 3.3% 2.4% 10.5 11.0 9.6 9.6 1.4% 6.8 6.3 3.6 3.8 -0.1% Chile Colombia Brazil Peru Argentina Chile Co
Slide 6: Financial highlights
Consolidated results 9M 2014 Financial highlights Change 9M 2014 Ch$ Million(1) 9M 2014 9M2013 (%) Mn US$ Revenues 5,209,263 4,593,455 13.4% 9,284 Enersis - Investor Relations Costs -3,688,149 -2,959,310 24.6% -6,573 EBITDA 1,521,114 1,634,145 -6.9% 2,711 EBIT 1,142,256 1,248,759 -8.5% 2,036 Net inc
Slide 7: From EBIT to net income
Consolidated results 9M 2014 From EBIT to net income Change 9M 2014 Ch$ Million(1) 9M 2014 9M2013 (%) Mn US$ EBIT 1,142,256 1,248,759 -8.5% 2,036 Enersis - Investor Relations Net Financial Expense -309,326 -142,715 116.7% -551 Interest Expense -387,066 -286,019 35.3% -690 Other 126,351 168,026 -24.8
Slide 8: Regulation update
Consolidated results 9M 2014 Regulation update Tax reform: On Sep 26th , Government approved a tax reform, seeking to raise ~US$ 8.3 Bn a year to fund several initiatives. Main considerations: Enersis - Investor Relations From 2017 onwards, companies can choose between 2 taxation schemes: “A
Slide 9: Regulation update
Consolidated results 9M 2014 Regulation update • Dx: The tariff setting process is under development. It is expected to be completed before year- Colombia end. The CREG will propose, for consultation, a first draft of the methodology to be used for calculating the distribution rate. The final vers
Slide 10: EBITDA evolution (Ch$ Million)
Consolidated results 9M 2014 EBITDA evolution (Ch$ Million) -6.9% Enersis - Investor Relations 1,634,145 45,500 129,119 1,521,114 (9%) 153,600 -33,040 -60,108 -194,502 (16%) (12%) 237,089 191,589 Chile (32%) (43%) 522,950 Brazil 652,069 Colombia (25%) 414,282 Peru 354,174 (23%) Argentina (22%) 351,7
Slide 11: EBITDA – Chile evolution
Consolidated results 9M 2014 (1) EBITDA – Chile evolution (Ch$ Million) -9.4% Enersis - Investor Relations 351,724 175,781 318,684 1,975 Dx 129,101 -34,373 -642 131,075 Gx 234,031 199,658 Other: Other: -11,407 -12,049 9M 2013 Generation Distribution Other 9M 2014 1 EBITDA considered “Others”, relate
Slide 12: EBITDA – Brazil evolution
Consolidated results 9M 2014 (1) EBITDA – Brazil evolution (Ch$ Million) -14.5% -19.7% Enersis - Investor Relations 414,282 -5,246 21,513 354,174 332,661 -74,030 -2,345 Dx 280,045 206,015 219,095 141,243 Gx 138,056 132,811 Other: Other: Other: -3,819 -6,164 -6,164 (2) 9M 2013 Generation Distribution
Slide 13: EBITDA – Colombia evolution
Consolidated results 9M 2014 (1) EBITDA – Colombia evolution (Ch$ Million) +24.7% +13.6% Enersis - Investor Relations 57,862 652,069 61,436 9,855 594,207 522,950 -35 232,732 255,397 Dx 222,876 361,417 396,614 Gx 299,981 Other: Other: Other: 92 58 58 9M 2013 Generation Distribution Other 9M 2014 FX 9
Slide 14: EBITDA – Peru evolution
Consolidated results 9M 2014 (1) EBITDA – Peru evolution (Ch$ Million) +23.7% +13.0% Enersis - Investor Relations 20,608 237,089 24,194 809 111 216,481 191,589 86,968 79,425 Dx 78,616 137,585 150,651 Gx 113,391 Other: Other: Other: -418 -530 -530 9M 2013 Generation Distribution Other 9M 2014 FX 9M 2
Slide 15: EBITDA – Argentina evolution
Consolidated results 9M 2014 (1) EBITDA – Argentina evolution (Ch$ Million) Ch$ -194,502 Enersis - Investor Relations 30,912 153,600 Gx 34,406 Dx Generation: Generation: +65,318 +49,627 119,610 Distribution: Distribution: Other: -119,067 -90,464 -416 9M 2013 Generation Distribution Other 9M 2014 FX
Slide 16: A solid financial position: Cash flow YTD
Consolidated results 9M 2014 A solid financial position Cash flow YTD (Ch$ Million) Enersis - Investor Relations 753,459 951,287 -557,242 -110,712 -470,127 (1) Cash flow from Capex (net) Dividend (net) Interest (net) Available Cash operations flow 1. Dividend considers cash outflow from Enersis S.A.
Slide 17: Annexes
Annexes enersis 17
Slide 18: Operating annexes: Production mix
operating annexes 9M 2014 Production mix (GWh) Hydro Oil-gas Coal NCRE LatAm Chile Colombia -9.3% +9.3% +3.9% 14,325 12,995 9,573 10,467 43,415 45,107 0.6% 3.9% 0.3% 1.0% 1.1% 6.9% Enersis - Investor Relations 8.4% 8.3% 6.4% 20.7% 0.5% 0.8% 40.4% 30.4% 40.5% 31.8% 91.0% 93.1% 55.4% 60.3% 50.6% 46.6%
Slide 19: Net installed capacity by source and geography
operating annexes 9M 2014 9M 2014 Net installed capacity: Breakdown by source and geography MW Hydro Oil-Gas Coal NCRE Total Enersis - Investor Relations Chile 3,456 2,173 636 87 6,352 Colombia 2,597 208 236 0 3,041 Peru 755 1,070 0 0 1,825 Brazil 665 322 0 0 987 Argentina 1,328 3,194 0 0 4,522 Tota
Slide 20: Total net production by source and geography
operating annexes 9M 2014 9M 2014 total net production: Breakdown by source and geography MWh Hydro Oil-Gas Coal NCRE Total Enersis - Investor Relations Chile 7,831 3,945 1,076 143 12,995 Colombia 9,741 52 674 0 10,467 Peru 3,330 3,508 0 0 6,838 Brazil 1,999 1,827 0 0 3,825 Argentina 2,101 8,881 0 0
Slide 21: EBITDA: generation/distribution businesses
operating annexes 9M 2014 EBITDA: generation/distribution businesses US$ 2,711 mn1 Enersis - Investor Relations 39.1% 60.9% Generation Distribution 21 1 Using the average exchange rate for the period January – September 2014 of 561.10 CLP/USD.
Slide 22: EBIT by business
operating annexes 9M 2014 (1) EBIT by business -8.2% Ch$ Million 1,266,350 1,162,550 Enersis - Investor Relations 35% 49% 65% 51% 9M 13 9M 14 Generation Distribution 22 1 EBIT by business does not include holding companies or services
Slide 23: CAPEX by business
operating annexes 9M 2014 CAPEX by business US$ 1,343 mn1 Enersis - Investor Relations 53.0% 47.0% 40.3% 59.7% Generation Distribution 23 1 The average exchange rate for the period January – September 2014 of 561.10 CLP/USD.
Slide 24: Balance Sheet
operating annexes 9M 2014 Balance Sheet Change 9M 2014 Enersis - Investor Relations (1) Ch$ Million 9M 2014 FY 2013 (%) Mn US$ Net Debt 2,603,463 1,338,757 94.5% 4,345 Shareholder's equity 6,281,702 6,168,554 1.8% 10,483 (2) Net capital employed 8,885,165 7,507,312 18.4% 14,828 1. The exchange rate
Slide 25: Financial debt
operating annexes 9M 2014 Financial debt Average cost of gross debt Average residual maturity (years) 8.6% 8.5% 6.2 8.1% 5.3 5.5 Enersis - Investor Relations 2012 2013 9M 2014 2012 2013 9M 2014 (1) Net debt (CLP$ MM) Fixed + hedged / Total gross debt 2,576,515 2,603,463 43% 40% 42% 1,338,757 2012 20
Slide 26: Liquidity analysis
operating annexes 9M 2014 Liquidity analysis Enersis - Investor Relations US$ Million Amount Outstanding Available Committed credit lines 816 0 816 Cash and cash equivalents (1) 2,565 n.a. 2,565 Uncommitted lines 804 0 804 Total liquidity 4,185 0 4,185 1 Cash and cash equivalents considers in additi
Slide 27: Debt structure
operating annexes 9M 2013 Debt structure • Average debt maturity: 6.2 years • Rating: • Average cost of gross debt: 8.5% - Standard & Poor‟s(1): BBB+ / AA, Stable • Fixed+Hedged/Total gross debt: 42% - Moody‟s: BBB+, Stable Enersis - Investor Relations - Fitch Ratings(1): Baa2 / AA, Stable Change Ch
Slide 28: Disclaimer
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 curr
Slide 29: Investor Relations Team
Investor Relations Team (ir@enersis.cl) • Pedro Cañamero +56 2 2353 4682 • Denisse Labarca +56 2 2353 4576 • Nicolás Donoso +56 2 2353 4492 • Jorge Velis +56 2 2353 4552 • Carmen Poblete +56 2 2353 4447 • María Luz Muñoz +56 2 2353 4682 Visit our website at: www.enersis.cl (Investor Relations) 29
Slide 30: enersis
enersis