Inversiones La Construccion SA · BCS:ILC

Inversiones La Construccion SA — Investor Presentation (May 2015)

22 slides from Inversiones La Construccion SA's investor presentation, May 2015

  1. Slide 1: Company Presentation

    Estrictamente Privado y Confidencial Company Presentation May-15 Privado1y Confidencial 1

  2. Slide 2: Company Overview

    Estrictamente Privado y Confidencial Company Overview Insurance Sector Revenues Net Income % Ownership  Supplemental health insurance US$128.6 mm US$-6,9 mm 99.9%  Life Insurance Company (Annuities) US$640.7 mm US$19.4 mm 72.4% Non-Insurance Sector Revenues Net Income % Ownership  Pension funds a

  3. Slide 3: ILC's Highlights

    Estrictamente Privado y Confidencial ILC´s Highlights 2012 2013 Largest IPO in Awarded in ILC sold 51% D&S in Peru ILC acquired Peru (US$ 200 million) (1st auction) 67% Chile (US$ 468 million) (1st auction) (US$ 167 million) Jul-12 Dec-12 Jun-13 Sep-13 Nov-13 CGVC acquired MoU signed for MoU to shar

  4. Slide 4: Ownership and stock price

    Estrictamente Privado y Confidencial Ownership and stock price Ownership structure Dec-14 Dividend (CLP) Others Stockbrokers 4.7% Dividend Dividend yield at Year 11.5% paid $7,061 (IPO price) 2012 $548 7.76% 2013 $450 6.37% Internationals 16.8% 2014 $449 6.36% CChC TOTAL $1,447 20.5% 67.0% Dividend

  5. Slide 5: Revenues come from…

    Estrictamente Privado y Confidencial Revenues come from… $ Pension Fund Retirement Insurance Healthcare 1.27% Commission fee 10% Voluntary savings Mandatory Health Insurance 7% Additional health contribution Gross Salary Taxes: Range 0% - 40% Voluntary Health Insurance Supplemental health insurance

  6. Slide 6: Our subsidiaries

    Estrictamente Privado y Confidencial Our Business Our subsidiaries Privado6y Confidencial 6

  7. Slide 7: Habitat

    Estrictamente Privado y Confidencial Habitat Income Statement (Th.US$*) Dec – 14 Dec – 13 Var. % • Created in 1981 under the new Revenues 231,569 213,233 8.6% provisional system Cost of sales - - - Gross Profit 231,569 213,233 8.6% • The only AFP under the same controller through all its history SG&

  8. Slide 8: Habitat

    Estrictamente Privado y Confidencial Habitat Evolution of Habitat AUM (US$ Million) • Mandatory individual capitalization account Contributions = 10% of gross salary (capped CAGR: 6.8% at ~US$3,000 per month) • 45,000 Voluntary pension contributions 42,653 42,820 41,805 40,000 36,305 37,281 Tax exem

  9. Slide 9: Habitat Peru

    Estrictamente Privado y Confidencial Habitat Peru Affiliates v/s Market Share Evolution • As of June 1st 2013, Habitat started operations in Peru. 450,000 8% 7% 400,000 7% • All the new entrant into the formal sector 350,000 6% 6% contribute into Habitat for two years 300,000 5% 4% 250,000 • Decembe

  10. Slide 10: Our companies in the health business

    Estrictamente Privado y Confidencial Our companies in the health business Average monthly Average monthly Medical Bill contribution per contribution per contributor: USD $128.1 beneficiary: USD $18.7 % covered by: the person Monthly 10% of the premiums gross salary is % of the Net Co-payment the ave

  11. Slide 11: Consalud

    Estrictamente Privado y Confidencial Consalud Income Statement (Th. US$*) Dec – 14 Dec – 13 Var. % Revenues 559,234 514,743 8.6% Cost of sales (474,097) (439,072) 8.0% • Created in 1984 under the new provisional health system (Isapre) Gross Margin 85,137 75,671 12.5% SG&A (76,663) (67,844) 13.0% • 9

  12. Slide 12: Consalud

    Estrictamente Privado y Confidencial Consalud Loss ratio (as of Dec-14) Products offered 84.2% 84.9% 85.7% 86.9% 87.9% 89.2% Medical plans • Open network plans • Preferred provider plans • Closed network plans Complementary product offerings • Additional coverage for catastrophic diseases • Dental p

  13. Slide 13: Red Salud

    Estrictamente Privado y Confidencial Red Salud Income Statement (Th. US$*) Dec – 14 Dec – 13 Var. % Revenues 351,055 317,142 10.7% • One of the main private healthcare Cost of sales (278,021) (248,204) 12.0% providers, reaching close to 18.6% of Gross Margin 73,034 68,939 5.9% the private beds in Ch

  14. Slide 14: Red Salud: Main subsidiaries P&L (Dec-14)

    Estrictamente Privado y Confidencial Red Salud: Main subsidiaries P&L (Dec-14) Income Statement (Th. US$*) Megasalud Bicentenario Tabancura Avansalud Iquique Revenues 148,864 70,673 56,547 58,041 11,366 Cost of sales (120,561) (59,593) (43,150) (43,491) (7,368) Gross Margin 28,303 11,081 13,397 14,5

  15. Slide 15: Vida Cámara

    Estrictamente Privado y Confidencial Vida Cámara Income Statement • On January 2012 launch the (Th. US$*) Dec – 14 Dec – 13 Var. % complementary health insurance D&S Chile – Gross Profit* (8,073) (6,357) -27.0% business, adding more than 9,000 beneficiaries per month D&S Peru – Gross Profit* (5,613)

  16. Slide 16: Vida Cámara

    Estrictamente Privado y Confidencial Vida Cámara Evolution of beneficiaries for the complementary health insurance In average, more than 9,000 beneficiaries per month Recent projects • Complementary health insurance • Life and catastrophic insurance • Entrance in Peru • New D&S Contract in Chile Pri

  17. Slide 17: Corp Group Vida Chile

    Estrictamente Privado y Confidencial Corp Group Vida Chile Income Statement (Th. US$*) Dec – 14 Dec – 13 Var. % Non-insurance activity profit (11,364) (12,102) 6.5% • 14.6% Market share on annuities Revenues from insurance activity 473,173 510,201 -7,3% Revenues from financial result 358,969 318,780

  18. Slide 18: Corp Group Vida Chile – Subsidiaries results

    Estrictamente Privado y Confidencial Corp Group Vida Chile – Subsidiaries results Income Statement (Th. US$*) Dec – 14 Dec – 13 Var. % Revenues from premium 63,608 67,581 -5.9% Revenues from investments 158,203 129,539 22.1% Reserves and claims (189,078) (189,055) 0.0% Gross Profit 32,733 8,066 306%

  19. Slide 19: Financial Summary

    Estrictamente Privado y Confidencial Financial Summary Financial Summary Privado 19y Confidencial 19

  20. Slide 20: Balance Sheet (Th. US$)

    Estrictamente Privado y Confidencial Balance Sheet (Th. US$) Balance Dec – 14 Dec – 13 Income Statement Dec– 14 Dec – 13 Total current assets 363,846 375,687 Non insurance activity 158,627 155,902 operating income Total non current assets 1,265,013 1,173,246 Non insurance activity 23,982 7,998,096 7

  21. Slide 21: Financial Data (as of Dec-14)

    Estrictamente Privado y Confidencial Financial Data (as of Dec-14) Financial Debt (Million US$) ILC Habitat Vida Cámara CGVC C. Machalí Consalud Red Salud TOTAL Short Term 31.4 0.1 2.6 238.9 1.4 1.0 52.3 327.8 Bonds 3.1 - - 20.2 - - 2.1 25.4 Bank loans 28.3 - 2.6 218.7 1.4 1.0 43.8 295.8 Leasing - 0

  22. Slide 22: For more information, please contact

    Estrictamente Privado y Confidencial For more information, please contact with: Ignacio González R. María Paz Merino Pagola CFO Head of Investor Relations Phone: (56 2) 2477 4606 Phone: (56 2) 2477 4673 igonzalez@ilcinversiones.cl mmerino@ilcinversiones.cl www.ilcinversiones.cl Privado y Confidencia

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