Colbun Sa · BCS:COLBUN
Colbun Sa — Fenix Power — Q3 2024 Earnings Presentation
12 slides from Colbun Sa's earnings presentation, December 2024
Slide 1: Corporate Presentation 3Q24 – December 2024
CORPORATE PRESENTATION 3Q24 – December 2024
Slide 2: Company Overview: Fenix Power, a relevant & efficient CCGT in Peru
COMPANY OVERVIEW Fenix Power: a relevant & efficient CCGT in Peru THE COMPANY KEY FIGURES International Ratings One of the most 3.6 TWh/year BBB- Stable efficient CCGT LTM EBITDA LTM Net Fitch in Peru generation US$85 mm Based on Heat Rate BBB- Stable S&P 572 MW 3.5 TWh/year CASH Gross effective Ave
Slide 3: Market Overview: Power industry dynamics in Peru
MARKET OVERVIEW Power industry dynamics in Peru INSTALLED CAPACITY DEMAND GROWTH GENERATION LTM BY TECHNOLOGY (12-month average %) 4% 10% 1% 8% 37% 8% Hydro 6% Hydro Combined Cycle 6% Natural Gas 59,546 Diesel 14,338 4% 2.2% GWh 48% MW Solar & Wind Open Cycle 20% 40% Solar & Wind 2% Coal & Others Co
Slide 4: Commercial Strategy: Commercial policy
COMMERCIAL STRATEGY Commercial policy Contracting a relevant portion of capacity Fenix maintains a relevant base of long-term PPAs 1 Solid customers base Indexation formulas Creditworthy counterparties PPAs indexed to dollar and fuel Most of Fenix PPAs are signed 2 3 prices, in order to mitigate wit
Slide 5: Commercial Strategy: Operational long-term contracts
COMMERCIAL STRATEGY Operational long-term contracts 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 ……... 2046 1 NATURAL GAS SUPPLY CAMISEA ✓ Counterparty: Camisea Consortium ✓ Expiration: December 2029 2 NATURAL GAS TRANSPORT TGP ✓ Counterparty: TGP ✓ Expiration: May 2032 3 GAS DISTRIBUTION & O&M
Slide 6: Commercial Strategy: Fenix contracted level
COMMERCIAL STRATEGY Fenix contracted level ✓ Our contracting strategy follows an optimal level, where we are always net sellers in the spot market. This ensures: ✓ Contractual commitments are entirely supplied by our own generation. ✓ Some energy is available to capitalize on higher spot prices that
Slide 7: New Capacity Signed: Stable cash flow profile supported by long-term PPAs
NEW CAPACITY SIGNED Stable cash flow profile supported by long-term PPAs 1 PPAs PROFILE 2 LTM ENERGY SALES 26% ✓ Average life of long-term PPAs of 6 years ✓ US$ indexation 3,627 PPAs sales GWh SPOT sales 74% 3 PPAs PORTFOLIO (TWh) 4 NEW ENERGY SIGNED DURING 20241 4.0 3.9 3.7 3.6 3.4 3.1 2.1 2.2 1.4
Slide 8: Pipeline of Projects: Power diversification matrix
PIPELINE OF PROJECTS Power diversification matrix BAYÓVAR 250 MW + 410 MW 1.4 GW Wind NAYLAMP farms 238 MW PROGRESS STAGE 648 MW Preliminary Target of new studies PAMPA 500 renewable capacity 788 MW 300 MW MW installed by 2030 Feasibility TRES QUEBRADAS 238 MW Note: All figures as of Sep-24. 8
Slide 9: Financial Review: Financial figures
FINANCIAL REVIEW Financial figures 1 OPERATING REVENUES (US$ million)1 2 EBITDA (US$ million)2 EBITDA EBITDA margin 312 253 120 105 98 100% 226 100 85 80% 159 172 80 65 70 60% 60 40 40% 41% 40% 42% 38% 20% 20 31% 0 0% 2020 2021 2022 2023 3Q24 2020 2021 2022 2023 3Q24 LTM LTM 3 DEBT/EBITDA (x)2 4 FIN
Slide 10: Financial Review: Long-term debt profile
FINANCIAL REVIEW Long-term debt profile BOND AMORTIZATION STRUCTURE (US$ million) 168 16 18 2025 2026 2027 1 DEBT PROFILE (US$ million)1 2 FENIX BOND ISSUANCE ✓ Amount outstanding: US$202 mm ✓ Average life: 2.7 years 202 89 11 ✓ Coupon: 4.3% ✓ Maturity: Sep-27 ✓ Format: 144A/Reg S Bond Calidda CTM ✓
Slide 11: Sustainability: ESG Milestones
SUSTAINABILITY ESG Milestones 500 MW of renewable Carbon footprint Efficient water Waste energy by 2030 reduction: use: management: ENVIRONMENTAL ✓ 50% net reduction Operational ✓ 61% of waste by 2030 compared (m3/MWh): recycled by 2024. to 2023. ✓ Zero Direct Water ✓ 50 % waste ✓ H2V plant Footprin
Slide 12: Corporate Presentation 3Q24 – December 2024
CORPORATE PRESENTATION 3Q24 – December 2024