Slide 1: Enersis 1Q 2013 results
30 | 04 | 2013 enersis 1Q 2013 results
Slide 2: Capital Increase successful completion
Enersis consolidated results 1Q 2013 Capital Increase successful completion 16.441.606.297 New shares issued More than US$6,000 million of capital increase Enersis became one of the three highest market cap companies in Chile 2
Slide 3: Highlights
Enersis consolidated results 1Q 2013 Highlights Despite the recovery showed by generation business, distribution business shifted the positive trend, due to tariff revision of Chilectra and Coelce and the conversion effect from Brazilian Real to Chilean Peso. Generation business achieved an increase
Slide 4: Key physical data and EBITDA structure
Enersis consolidated results 1Q 2013 Key physical data and EBITDA structure Physical data (GWh) 1Q 2013 Chile Brazil Peru Colombia Argentina TOTAL ENERSIS 4,894 45 Other 2,628 13,983 3,035 45 Thermal 2,676 319 5,490 6,708 1,246 2,180 4,398 18,535 Hydro 3,666 912 3,215 3,496 2,716 2,172 625 1,766 1,2
Slide 5: Demand evolution and spot prices
Enersis consolidated results 1Q 2013 Demand evolution and spot prices Latam countries where Enersis operates. 5.5% 2.2% 1.4% 0.3% Chile Brazil Peru Colombia Argentina -1.1% 187.0 Average spot prices 1 -26.7% 164.2 137.0 406.9% 73.5 143.4% 32.4 -14.6% 25.4 30.2 24.3 -4.0% 21.7 23.3 1Q 2012 1Q 2013 1Q
Slide 6: Income Statement
Enersis consolidated results 1Q 2013 Income Statement 1 Th US$ 1Q 2013 1Q 2012 Change (*) Ch$ Million 1Q 2013 Revenues 1,456,669 1,624,813 -10.3% 3,083,681 Gross Margin 656,080 705,923 -7.1% 1,388,883 EBITDA 434,041 490,316 -11.5% 918,839 Operating Income 325,515 371,911 -12.5% 689,096 Net Financial
Slide 7: EBITDA in Generation and Distribution
Enersis consolidated results 1Q 2013 EBITDA in Generation and Distribution¹ Ch$ Million Generation Distribution 264,834 4.4% 236,136 226,137 201,552 6,890 75,923 -23.9% 7,243 93,716 22,527 68,362 87,060 Argentina 22,490 Colombia 37,175 37,474 Peru 129,204 87,728 42,323 Brazil 46,510 Chile 42,598 48,
Slide 8: Commercial policy and sales strategy
Enersis consolidated results 1Q 2013 Commercial policy and sales strategy South America (% estimated output hedged) 73.8% 68.2% Contracting level in Latin America that optimizes margin and risk exposure 35% of the generation sold through contracts > 5 years 2013 2014 and 19% through contracts > 10 y
Slide 9: Commercial Policy
Enersis consolidated results 1Q 2013 Commercial Policy Total Generation Sales 1Q 2013 26% 50% 24% Chile Brazil Peru Colombia Argentina 1% 9% 13% 24% 53% 32% 18% 49% 36% 55% 75% 82% 34% 19% Regulated Sales Unregulated sales Spot sales Chile Brazil Peru Colombia Argentina Total Var v/s Var v/s Var v/s
Slide 10: Regulation update: Latam
Enersis consolidated results 1Q 2013 Regulation update: Latam Chilectra, 2012 Tariff Revision: • On April 2, tariff revision for the distribution came into finish with the release of Chile the decree. The effect for Chilectra was a reduction on the VAD of 4.5%, which is reflected in a decrease by
Slide 11: Growth platform
Enersis consolidated results 1Q 2013 Growth platform Solid organic, and sustained growth in Distribution Almost 410 thousand new customers in current distribution areas in 1Q 2013 in comparison to 1Q 2012. The future brings smart grids, telemetering, innovation and a wide range of technologies a
Slide 12: Growth platform: Key Projects - Basic engineering
Enersis consolidated results 1Q 2013 Growth platform Key Projects - Basic engineering Country Project MW Technology Los Cóndores 150 Hydroelectric Curibamba 188 Hydroelectric Renaico 88 Wind Farm Neltume 490 Hydroelectric Punta Alcalde 740 Thermal Hidroaysen 1,403 Hydroelectric TOTAL 3,059 Jamanxim
Slide 13: A solid financial position
Enersis consolidated results 1Q 2013 A solid financial position Net debt evolution in 1Q 2013 Ch$ Million • Enersis liquidity ex Endesa Chile covers 47 months of debt maturities including interest expenses • Enersis liquidity covers 40 months of debt maturities including interest expenses ¹ Cash flo
Slide 14: Expecting better conditions for the coming months
Conclusions 1Q 2013 Expecting better conditions for the coming months Slight improvement in hydro conditions in Chile, in addition to lower prices on regasified natural gas. CIEN will be fairly comparable to 2012. Electricity demand growth forecast between 4% to 5% on weighted average basis.
Slide 15: Disclaimer
Enersis consolidated results 1Q 2013 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
Slide 16: We are here to help you
Call us! We are here to help you Ricardo Alvial Denisse Labarca Investments & Risks Director Head of Investor Relations mlmr@enersis.cl denisse.labarca@enersis.cl 56 (2) 2353-4682 56 (2) 2353-4576 Jorge Velis Javier Hernandez Carmen Poblete Investor Relations Investor Relations Shares Department Ass
Slide 17: Appendices
appendices
Slide 18: Installed capacity and output per country
Appendices 1Q 2013 Installed capacity and output per country¹ MW at 1Q 2013 Chile Colombia Brazil Peru Argentina Total Total 5,571 2,914 987 1,773 4,522 15,766 Hydro 3,456 2,471 665 746 1,328 8,666 Installed Coal 636 236 0 0 0 872 Capacity Oil-Gas ¹ 1,392 208 322 1,027 3,194 6,142 Renewables 87 0 0
Slide 19: Enersis: financial debt maturity calendar
Appendices 1Q 2013 Enersis: financial debt maturity calendar Debt by Country (Million Ch$) 2013 2014 2015 2016 2017 Balance TOTAL Chile 202,440 355,928 106,762 226,998 9,219 460,058 1,361,405 Argentina 142,733 79,362 3,296 - - - 225,391 Peru 37,448 59,674 45,766 48,016 43,185 126,179 360,268 Brazil
Slide 20: Enersis: financial debt maturity calendar
Appendices 1Q 2013 Enersis: financial debt maturity calendar Debt maturity profile outstanding as of March 31, 2012 US$ million 2.500 2.302 2.000 1.500 1.414 984 1.000 678 374 437 500 266 210 153 230 132 162 0 < 1 year 1-2 years 2-3 years 3-4 years 4-5 years 5 years and beyond Bonds Banks and others
Slide 21: Enersis Group in Chile
Enersis’ unique business platform Enersis Group in Chile Generation Distribution ENDESA CHILE CHILECTRA Total Generation: 4,894 GWh Distribution area: Santiago de Chile Market Share¹: 30% 1.7 million customers Tarapacá Wind Hydro Thermal 45 Energy losses 5.4% 2,172 GWh 2,676 GWh GWh D. Almagro–Talta
Slide 22: Enersis Group in Colombia
Enersis’ unique business platform Enersis Group in Colombia Generation Distribution EMGESA CODENSA Total Generation: 3,036 GWh Distribution area: Bogotá Market Share¹: 20% 2.6 million customers Hydro Thermal 319 GWh Energy losses 7.2% 2,716 GWh Ch$ Million 1Q 2013 1Q 2012 Change Ch$ Million 1Q 2013
Slide 23: Enersis Group in Peru
Enersis’ unique business platform Enersis Group in Peru Generation Distribution Total Generation: 2,180 GWh EDELNOR Market Share¹: 24% EDEGEL Distribution area: Northern Lima 1.2 million customers Hydro Thermal 1,268 GWh 912 GWh Energy losses 8.1% Ch$ Million 1Q 2013 1Q 2012 Change Ch$ Million 1Q 20
Slide 24: Enersis Group in Brazil
Enersis’ unique business platform Enersis Group in Brazil Generation Total Generation: 1,246 GWh Market Share¹: 1% CACHOEIRA FORTALEZA Hydro Thermal 621 GWh 625 GWh Ch$ Million 1Q 2013 1Q 2012 Change Ch$ Million 1Q 2013 1Q 2012 Change Revenues 32,206 33,695 -4.4% Revenues 41,380 32,334 28.0% EBITDA
Slide 25: Enersis Group in Brazil
Enersis’ unique business platform Enersis Group in Brazil Distribution AMPLA COELCE Distribution area: Río de Janeiro State Distribution area: Ceará State 2.7 million customers 3.4 million customers Energy losses 19.9% Energy losses 12.7% Ch$ Million 1Q 2013 1Q 2012 Change Ch$ Million 1Q 2013 1Q 201
Slide 26: Enersis Group in Argentina
Enersis’ unique business platform Enersis Group in Argentina Generation Distribution Total Generation: 2,628 GWh EDESUR Market Share¹: 12% Distribution area: Southern Buenos Aires EL CHÓCON 2.4 million customers Hydro Energy losses 10.6% 453 GWh Ch$ Million 1Q 2013 1Q 2012 Change Ch$ Million 1Q 2013
Slide 27: “This document is the property of ENDESA and therefore must not be disseminated or
“This document is the property of ENDESA and therefore must not be disseminated or published without ENDESA's prior written consent. The content of this document is provided for information purposes only and therefore has no contractual substance and should not be used as part of or construed as a l