Slide 1: Enersis FY 2015 results
Enersis* FY 2015 results 03/02/2016 *On Feb the 1st 2016, it was announced the spin off Enersis into Enersis Americas and Enersis Chile for legal & accountant purposes. Both companies continue to be traded under the same ticker until the listing of the new companies in our current stock exchanges wi
Slide 2: Highlights of the period
FY 2015 results Highlights of the period Operating EBITDA excluding exchange rate effect increased by 10.5%. Reported EBITDA of 3.5 bnUSD was in line with FY14 FY2105 EPS increased by 8.5%, reaching 13.5 CLP/sh +434MW capacity in 2015: +400 MW in Colombia and +34 MW in Peru Distribution clients incr
Slide 3: Financial Statements reported to SVS
FY 2015 results Financial Statements reported to SVS1 US$ Mn Enersis Américas FY 14 FY 15 % EBITDA 2.714 2.467 -9,1% EBIT 2.120 1.917 -9,6% NET INCOME 618 626 1,2% US$ Mn continuing company Enersis S.A. FY 14 FY 15 % EBITDA 3.513 3.497 -0,5% EBIT 2.703 2.717 0,5% 2 NET INCOME 932 1.011 8,4% US$ Mn E
Slide 4: Market context in the period
FY 2015 results Market context in the period GDP growth (%)1 Enersis’ Energy demand (%)2 2.9% 2.8% 4,7% 2.1% 4,2% 0.9% 2,2% 1,2% 0,7% -3.6% Chile Brazil Colombia Peru Argentina Chile Brazil Colombia Peru Argentina Energy contracts (TWh)3 Spot Price (USD/MWh) Local Currencies vs CLP (%)4 Energy Total
Slide 5: Enersis' operational highlights
FY 2015 results Enersis’ operational highlights1 Installed capacity (GW) Net production (TWh) + 2.6% + 0.2% 2 3 3 2 17.3 60.3 60.4 16.9 7.1 Hydro 24.0 23.3 7.1 0.9 Oil-Gas 2.2 2.9 0.9 Coal 8.8 9.2 34.0 34.0 NCRE 2014 FY14 2015 FY15 2014 FY14 2015 FY15 Electricity sold (TWh) Number of customers (mn)
Slide 6: Financial Statements reported to SVS
FY 2015 results Financial Statements reported to SVS Enersis pro-forma1 consolidated Financial Statements Enersis Americas2 Financial Statements FY15 FY14 US$ Mn FY15 FY14 US$ Mn Ch$ million1 Chg % Chg % Ch$ Mn Ch$ Mn FY15 Ch$ million1 Ch$ Mn Ch$ Mn FY15 Revenues 7,698,847 7,253,876 6.1% 11,760 Reve
Slide 7: Financial highlights
FY 2015 results Financial highlights1 (US$ bn2) Revenues EBITDA - 0.5% + 6.1% Operating EBITDA Reported EBITDA + 10.5% 11.1 11.8 3.5 3.9 3.5 -0.4 2014 FY 14 2015 FY 15 2014 2015 Fx impact 2015 Attributable Net Income and EPS Net Debt3 + 8.4% - 5.5% 0.9 1.0 3.1 2.9 2014 FY 14 2015 FY 15 12.4 CLP/Shar
Slide 8: Group EBITDA evolution by country
FY 2015 results Group EBITDA evolution by country1 (US$ bn) - 0.5 % 3.5 0.2 + 217 0.3 276 3.5 3.513 0.04 37 3.496 -0.4 - 359 - 188 -0.2 2014 FY 14 Chile Brazil Colombia Peru Argentina 2015 FY 15 +28.9% yoy -39.3% yoy -14.8% yoy +7.7% yoy +739.1% yoy -20.2% yoy2 +1.7% yoy2 +5.3% yoy2 +738.3% yoy2 1.
Slide 9: Group EBITDA evolution – Focus in Chile
FY 2015 results Group EBITDA evolution – Focus in Chile (US$ mn) + 28.9% + 244 1,030 - 17 799 +4 Dx 283 (+1.6% yoy) Dx 278 Gx Gx 545 790 (+44.8% yoy) Others: - 24 Others: - 43 2014 Distribution Generation Others1 2015 1. EBITDA considered “Others”, related to holding and services: Servicios Informát
Slide 10: Group EBITDA evolution – Focus in Brazil
FY 2015 results Group EBITDA evolution – Focus in Brazil (US$ mn) - 39.4% 910 Dx 655 552 - 303 - 36 - 19 Dx 352 (-46.3% yoy) Gx 270 234 Gx (-13.4% yoy) Others: - 15 Others: - 34 1 2 2014 Distribution Generation Others 2015 1. Includes CIEN. 10 2. EBITDA considered “Others”, related to holding and se
Slide 11: Group EBITDA evolution – Focus in Colombia
FY 2015 results Group EBITDA evolution – Focus in Colombia (US$ mn) - 14.8% 1,269 - 63 1,080 Dx 514 - 125 Dx 451 (-12.3% yoy) Gx 755 Gx 629 (-16.6% yoy) 2014 Distribution Generation 2015 11
Slide 12: Group EBITDA evolution – Focus in Peru
FY 2015 results Group EBITDA evolution – Focus in Peru (US$ mn) + 7.7% + 29 +8 +1 537 499 1,269 Dx 211 (+16.0% yoy) Dx 182 327 Gx Gx 318 (+2.6% yoy) Others: - 1 Others: - 1 1 2014 Distribution Generation Others 2015 1. EBITDA considered “Others”, related to holding and services. 12
Slide 13: Group EBITDA evolution – Focus in Argentina
FY 2015 results Group EBITDA evolution – Focus in Argentina (US$ mn) + 748% + 36 +1 314 + 240 Dx 182 (n.a. yoy) Dx: -58 Gx: 95 Gx 132 (+37.9%) 37 1 2014 Distribution Generation Others 2015 1. EBITDA considered “Others”, related to holding and services. 13
Slide 14: From EBITDA to Group net income
FY 2015 results From EBITDA to Group net income1 (US$ bn2) 3.5 2.7 0.04 -0.8 -0.04 1.7 -1.0 1.0 -0.7 EBITDA D&A EBIT Financial Result Non Operating Income tax Group Net Minorities Attributable Net Results Income Shareholders Income -0.5% yoy -3.8% yoy +0.5% yoy -89.9% yoy +29.2% yoy +27.5% yoy +11.2
Slide 15: Gross Capex
FY 2015 results Gross Capex1 (US$ bn) By activity By country By business Colombia Brazil Distribution 19% Maintenance 31% 2.1 2.1 2.1 50% 50% (-3.8% yoy) 50% (-3.8% yoy) 50% (-3.8% yoy) 20% Argentina 20% Growth 10% Chile Peru Generation Growth capex excluding FX increased by 34% and Maintenance decr
Slide 16: Free cash flow
FY 2015 results Free cash flow (US$ bn) 3.5 -0.7 -0.3 0.3 2.8 1.7 -1.1 -1.0 ~ -0.3 1 -0.9 2 EBITDA Taxes paid Financial NWC + Others FFO Maintenance FCF Growth Capex Dividends 3 CF expenses Capex 2 1. Effective tax paid during 2015. 2. Gross of contributions and connections fees. 3. Including minori
Slide 17: Net debt evolution
FY 2015 results Net debt evolution (US$mn) -5.5% 1 2 2014 FY 2014 Cash Flow Extraordinary Activities FX Effect 2015 FY15 +0.3 2.9 3.1 -0.02 -0.4 1. 2. As of 31 Dec. 2014. Net debt include cash and cash equivalence for more than 90 days. 17
Slide 18: Debt and financial expenses
FY 2015 results Debt and financial expenses Average cost of gross debt Average residual maturity (years) 8,1 8,3 8,7 6,3 5,9 5,5 8,1 8,7 2013 2014 2015 2013 2014 2015 Gross and Net Debt US$ bn Debt profile (US$ bn) -19.9% 6.1 2.9 4.9 3.0 2.0 0.9 3.1 2,9 0.6 0.5 2014 2015 2016 2017 2018 2019 and Net
Slide 19: Closing remarks
FY 2015 results Closing remarks Resilient performance in a challenging environment Important steps in Argentina towards the creation of the “integral tariff” in distribution First phase of the reorganization process approved: since Feb 1st, Enersis spinned off Enersis Americas and EnersisChile Next
Slide 20: Exhibits
Exhibits 20
Slide 21: Operating Exhibits FY 2015: Business context
Operating Exhibits FY 2015 Business context in FY 2015 v/s FY 2014 Clients in Dx: 1,780,780 Elec. Losses Dx: 5.3% Unit Margin Gx: 43.0 US$/MWh Chile Unit Margin Dx: 26.3 US$/MWh Clients in Dx: 2,865,159 Elec. Losses Dx: 7.3% Unit Margin Gx: 41.3 US$/MWh Colombia Unit Margin Dx: 34.7 US$/MWh Clients
Slide 22: Net installed capacity by source and geography
Operating Exhibits FY 2015 Net installed capacity: Breakdown by source and geography (GW) GW Hydro Oil-Gas Coal NCRE Total Chile 3.5 2.2 0.6 0.09 6.4 Colombia 3.0 0.2 0.2 0 3.5 Peru 0.8 1.2 0 0 2.0 Brazil 0.7 0.3 0 0 1.0 Argentina 1.3 3.2 0 0 4.5 Total 9.2 7.1 0.9 0.09 17.3 22
Slide 23: Total net production by source and geography
Operating Exhibits FY 2015 Total net production: Breakdown by source and geography (TWh) TWh Hydro Oil-Gas Coal NCRE Total Chile 11.8 4.6 1.8 0.2 18.3 Colombia 12.2 0.3 1.2 0 13.7 Peru 4.7 4.1 0 0 8.8 Brazil 2.1 2.3 0 0 4.4 Argentina 3.2 12.0 0 0 15.2 Total 34.0 23.3 2,9 0.2 60.4 23
Slide 24: Production mix
Operating Exhibits FY 2015 Production mix (TWh) LatAm Chile Colombia + 0.2% + 1.3 % + 1.1 % 2 3 3 1 60.4 1 18.1 18.3 2 13.6 13.7 60.3 4,8% 7,2% 9,6% 6,3% 8,4% 3,6% 39,8% 38,7% 27,9% 24,9% 93,1% 89,2% 56,3% 56,2% 63,7% 64,5% FY 14 FY 15 FY 14 FY 15 FY 14 FY 15 1. NCRE Latam FY14: 0.3%, FY15: 0.3%. 2.
Slide 25: Distribution companies
Operating Exhibits FY 2015 Distribution companies Energy Energy Current City, Concession Next tariff Distributor Clients sold losses regulatory return Country area (km²) revision (GWh) (%) (pre-tax, real) Santiago, Chilectra 1,780,780 15,893 5.3% 2,105 ROA 10% 2016 Chile Bogotá, Codensa 2,865,159 13
Slide 26: Debt structure, liquidity and credit profile
Operating Exhibits FY 2015 Debt structure, liquidity and credit profile Debt structure (US$ mn) Dec. 14 Dec. 15 % Long-term 5,421 3.893 -28.2% Short-term 695 1,008 45.0% Cash 3,003 1,960 -34.7% Net debt 3,113 2.940 -5.5% Liquidity (US$ mn) Amount Outstanding Available Committed credit lines 561 31 5
Slide 27: Disclaimer
FY 2015 results 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
Slide 28: IR Team
FY 2015 results IR Team • Pedro Cañamero, Head of IR +56 2 2353 4682 • Denisse Labarca +56 2 2353 4576 • Jorge Velis +56 2 2353 4552 • María Luz Muñoz +56 2 2353 4682 ir.enersis@enel.com For further information, visit our IR site at: www.enersis.cl 28
Slide 29: Enersis Americas, Grupo Enel
enersis americas Grupo Enel 29