Colbun Sa · BCS:COLBUN
Colbun Sa — Q4 2024 Earnings Presentation
38 slides from Colbun Sa's earnings presentation, 2025
Slide 1: Corporate Presentation 4Q24
CORPORATE PRESENTATION 4Q24
Slide 2: Colbun at a Glance
ABOUT US COLBUN AT A GLANCE INSTALLED CAPACITY (%) 42% 32% 21% 5% (1) Thermoelectric Hydroelectric Wind Solar 3.8 772 73 TWh (2) MARKET SHARE Generated Suppliers Clients Kallpa Energy Enel 20% Enel 30% Colbun 33% 35% Aes Andes Engie 15% Electroperú Engie 7% 14% 7% Fenix Others 14% 12% 14% Others 12.
Slide 3: Strategic Agenda Update
STRATEGIC AGENDA UPDATE WE TRANSFORM ENERGY, IN BALANCE WITH THE PLANET, TO BOOST YOUR PROJECTS AND DREAMS WE ADD VALUE Shareholders, Environment, Customers, Workers, Communities, Suppliers TO: Core business Expand our limits New businesses Asset 24/7 Renewable Customers Energy Solutions + Growth an
Slide 4: Market Conditions Update
MARKET CONDITIONS UPDATE MARGINAL COST US$/MWh INSTALLED CAPACITY LTM GENERATION DEMAND GROWTH MARGINAL COST GW GWh 12 months average % US$/MWh Alto Jahuel 6% 3% 110 Cardones Hydro 22% 32% Puerto Montt Coal 4% 3.1% Gas and LNG 58 85,633 60 Diesel 2% 37 GWh 36 SEN Wind 13% 0% 37 GW Solar 10 16% + 7.3
Slide 5: Enhancing Our Core Business
STRATEGIC AGENDA UPDATE ENHACING OUR CORE BUSINESS COLBUN’S PPAS BACKED BY ITS OWN LNG (ADP) (1) – firm 1 supply contract GENERATION (TWh) (2) 11.6 11.9 Gas 10.9 10.3 10.2 Coal 9.8 Wind FLEXIBLE GAS Argentine NG – firm CONTRACTS 2 supply contracts Solar Interruptible Argentine gas Hydro for roughly
Slide 6: Commercial Strategy
STRATEGIC AGENDA UPDATE COMMERCIAL STRATEGY 1. PPAs PROFILE(1) TWh 15 8 107 10 YEARS Average life Energy Solutions 5 0 2024 2025 2026 2027 2028 2029 2030 Mining Forestry Others Regulated 2. RENEWABLE CERTIFICATES EVOLUTION 3. CONTRACTED ENERGY AND RELEVANT PPAs SIGNED DURING 2024 N° of Clients 131 2
Slide 7: Core Business - Renewable Energy 24/7
STRATEGIC AGENDA UPDATE CORE BUSINESS - RENEWABLE ENERGY 24/7 778 MW Preliminary 580 MW 1,523 MW 800 MW 1,298 MW Preliminary Suspended PROGRESS studies Feasibility PROGRESS studies Feasibility STAGE STAGE 2,983 MW 1,054 MW Environmentally Construction approved 1.7 GW 0.4 GW Horizonte 816 MW Inti Pac
Slide 8: Core Business - Renewable Energy 24/7 (Horizonte)
STRATEGIC AGENDA UPDATE CORE BUSINESS - RENEWABLE ENERGY 24/7 798 December 97% total progress CAPEX (US$ million) 140 turbines reached 405 192 mechanical completion 171 Each with 5.83 MW of installed 30 capacity 2021 2022 2023 2024 Total 1H25 Estimated commissioning Note: Figures as of Dec24. 10 .
Slide 9: Key Financial Figures Overview
KEY FINANCIAL FIGURES OVERVIEW EBITDA LTM CAPEX LTM INTERNATIONAL RATINGS US$642 mm US$202 mm Baa2 BBB+ BBB US$ 558 mm US$ 84 mm BBB- BBB- Moodys Fitch S&P NET DEBT / EBITDA CASH DIVIDEND POLICY 2.4 X US$775 mm 50%(1) Note: All figures as of Dec24. 1 Note: US$100 mm distributed charged to 2024’s net
Slide 10: Financial Debt
KEY FINANCIAL FIGURES FINANCIAL DEBT AMORTIZATION STRUCTURE (US$ million) 700 600 600 Fenix 500 Green Loan 500 500 Colbun BBVA & Bofa 400 300 200 200 168 160 100 16 18 0 2025 2026 2027 2028 2029 2030 2031 2032 FINANCIAL DEBT PROFILE Consolidated Interest Rate Average Life Composition by Fixed Intere
Slide 11: Disclaimer & Contact Information
DISCLAIMER & CONTACT INFORMATION ✓ This document provides information about Colbun S.A. In no case this document constitutes a comprehensive INVESTOR RELATIONS analysis of the financial, production and sales situation of TEAM CONTACT the company ✓ To evaluate whether to purchase or sell securities o
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Slide 13: Annexes
ANNEXES
Slide 14: Chile's Projects Under Construction or Environmental Assessment
MARKET CONDITIONS CHILE´S PROJECTS UNDER CONSTRUCTION OR UNDER ENVIRONMENTAL STUDIES ASSESSMENT North Zone Central Zone South Zone Austral Zone (Arica to Maitencillo) (Maitencillo to Curicó) (Curicó to Puerto Montt) (Puerto Montt to the South) 33,670 MW 21,996 MW 9,092 MW 2,582 MW 420 MW 12,323 MW 3
Slide 15: Peru's Projects Under Construction or Environmental Assessment
MARKET CONDITIONS PERU´S PROJECTS UNDER CONSTRUCTION OR UNDER ENVIRONMENTAL STUDIES ASSESSMENT North Zone 1,000 MW Piura 4,517 MW Lambayeque Cajamarca Central Zone La Libertad Ancash 1,139 MW 4,008 MW Lima 10,669 MW South Zone Ica 8,873 MW 8,530 MW 348 MW Arequipa TOTAL: 19,542 MW Note: All figures
Slide 16: Fossil Fuels
MARKET CONDITIONS FOSSIL FUELS BRENT: OIL (USD/bbl) 120 HISTORICAL AND FORWARD 100 81 CURVE 80 60 Brent Brent fwd API4 API4 fwd 40 350 20 300 0 250 Jun Jun Jun Jun Jun Dec Dec Dec Dec Dec Dec 200 2019 2020 2021 2022 2023 2024 150 100 API4: COAL 50 (USD/ton) 0 Jun Dec Dec Dec Jun Dec Jun Jun Dec Jun
Slide 17: Regulatory Framework
MARKET CONDITIONS REGULATORY FRAMEWORK CORE BUSINESS Promulgation Working Tables Stabilized price table Cybersecurity Modification of Coordination Eligibility Modification of SMG 2/ SDMG 3 Law and Operation Regulations threshold change Regulations 04/10 08/26 09/25 04/08 04/04-05/14 09/03 12/09 Tari
Slide 18: Our Hydrological Conditions 2024
MARKET CONDITIONS OUR HYDROLOGICAL CONDITIONS 2024 COLBUN RESERVOIR LEVEL AND ACCUMULATED ENERGY 2023 2024 Max Min 2023 2024 671 637 Colbun Reservoir Energy (GWh) 440 437 437 674 Accumulated (m.a.s.l level) 436 397 390 HISTORICAL COLBUN S.A HYDRO GENERATION (GWh/day) 35 30 25 24 25 25 22 22 19 20 20
Slide 19: Board of Directors
ABOUT US Members Members Juan Carlos Marcela Angulo Vivianne Blanlot Franco Bozzalla Rodrigo Donoso Altmann Martín González Soza Trabucco Munita Independent Bernardo Larraín Andrés Kuhlmann Francisco Matte Hernán Rodríguez Matte Jahn Izquierdo Wilson Vice-Chairman Chairman Number of years at Colbun’
Slide 20: Asset Optimization
OUR STRATEGY ASSET OPTIMIZATION Thermal (capacity) 2,134 MW Solar (capacity) 230 MW ASSETS IN OPERATION Hydro (capacity) 1,604 MW Wind (capacity) 1,055 MW (1) CHILE PERU 1 Hydro Power Plants 2 Thermal Power Plants 3 Others ✓ Plans associated with the Reservoir ✓ Nehuenco U1 LTE 2023 ✓ SCADA (2) and
Slide 21: International Investment Thesis
OUR STRATEGY INTERNATIONAL INVESTMENT THESIS Incorporating new geographies would allow Colbun to expand its growth potential and diversify its portfolio SCALE DIVERSIFICATION SELECTION CRITERIA The electricity industry is a New geographies would allow ✓ Regulatory framework business that requires to
Slide 22: Focus on Infrastructure Projects
OUR STRATEGY FOCUS ON INFRAESTRUCTURE PROJECTS WATER GREEN HYDROGEN 1 Context Pilot programs FenixH2 Generator High water demand for industrial processes Developing The continental water supply will be increasingly limited Ammonia North of Chile export projects Need for solutions in water infrastruc
Slide 23: Milestones
OUR STRATEGY MILESTONES 4,000 MW of renewable Carbon footprint Efficient Waste energy reduction: water use: management: ENVIRONMENTAL ✓ 816 under ✓ 20% reduction of ✓ 36% reduction ✓ 81% of ash construction ton CO2e/MWh operational water recovery ✓ 8.6 TW in the compared to intensity compared ✓ 29%
Slide 24: Key Financial Figures Overview
KEY FINANCIAL FIGURES OVERVIEW 1. EBITDA EBITDA MG (US$ million %) 1. EBITDA & EBITDA MG (US$ million & %) 2. NET INCOME (US$ million) EBITDA EBITDA Mg 540 404 311 257 683 520 763 714 89 642 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 3. DEBT NET DEBT (US$ million) 3. DEBT & NET DEBT (US$ mill
Slide 25: Key Financial Figures Overview
KEY FINANCIAL FIGURES OVERVIEW 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 522 1,419 1,115 967 1,031 274 775 254 202 113 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 3. DIVIDENDS1 (US$ million) 4. DEBT/EBITDA NET DEBT/EBITDA (x) 3.
Slide 26: Our Pipeline of Projects: Bayóvar
OUR STRATEGY OUR PIPELINE OF PROJECTS Bayóvar K E Y I N D I C AT O R S Maximum estimated capacity 660 MW Location: Land surface 8,800 ha Piura Region Connection point S/E La Niña 500 kV Env. Impact Study Under environmental assessment Note: All figures as of Dec24. 28
Slide 27: Our Pipeline of Projects: Tres Quebradas
OUR STRATEGY OUR PIPELINE OF PROJECTS Tres Quebradas K E Y I N D I C AT O R S Maximum estimated capacity 238 MW Land surface 3,600 ha Connection point S/E Poroma 220 kV Env. Impact Study Under environmental assessment Location: Arequipa Region Note: All figures as of Dec24. 29
Slide 28: Our Pipeline of Projects: Algarrobal
OUR STRATEGY OUR PIPELINE OF PROJECTS Algarrobal K E Y I N D I C AT O R S Maximum estimated capacity 400 MW Land surface 760 ha Connection point S/E Montalvo 220 kV Env. Impact Study Under environmental assessment (250 MW) Location: Moquegua Region Note: All figures as of Dec24. 30
Slide 29: Our Pipeline of Projects: Naylamp
OUR STRATEGY OUR PIPELINE OF PROJECTS Naylamp K E Y I N D I C AT O R S Maximum estimated capacity 238 MW Land surface 3,950 ha Location: Lambayeque Connection point S/E Lambayeque Oeste 220 kV Region Env. Impact Study Environmental file in preparation Note: All figures as of Dec24. 31
Slide 30: Our Pipeline of Projects: Pampas
OUR STRATEGY OUR PIPELINE OF PROJECTS Pampas K E Y I N D I C AT O R S Maximum estimated capacity 540 MW Land surface 10,000 ha Connection point S/E Colectora 220 kV Env. Impact Study Environmental file in preparation Location: Ica Region Note: All figures as of Dec24. 32
Slide 31: Our Pipeline of Projects: Celda Solar
OUR STRATEGY OUR PIPELINE OF PROJECTS Celda Solar Location: Celda Solar Arica Region K E Y I N D I C AT O R S Maximum estimated capacity 422 MW Estimated capacity factor 33% Maximum estimated net 1,220 GWh (first year) annual generation Storage System 228 MW x 5 hours Land surface 8 ha Connection po
Slide 32: Our Pipeline of Projects: Jardín Solar
OUR STRATEGY OUR PIPELINE OF PROJECTS Jardín Solar Jardín Solar Location: Tarapacá Region K E Y I N D I C AT O R S Maximum estimated capacity 802 MW Estimated capacity factor 35% Maximum estimated net 2,460 GWh annual generation Storage System 200 MW x 5 hours Land surface 1,000 ha Connection point
Slide 33: Our Pipeline of Projects: Intipacha
OUR STRATEGY OUR PIPELINE OF PROJECTS Intipacha Intipacha Location: K E Y I N D I C AT O R S Antofagasta Region Maximum estimated capacity 925 MW Estimated capacity factor 35% Maximum estimated net 2,836 GWh annual generation Storage System 400 MW x 5 hours Land surface 736 ha Connection point SE Cr
Slide 34: Our Pipeline of Projects: Diego de Almagro BESS
OUR STRATEGY OUR PIPELINE OF PROJECTS Diego de Almagro BESS Diego de Almagro BESS K E Y I N D I C AT O R S Storage System 200 MW x 5 hours Location: Atacama Land surface 4 ha Region S/S Illapa 220 kV Connection point (2.6 km) Env. Impact Study Approved Note: All figures as of Dec24. 36
Slide 35: Our Pipeline of Projects: El Encanto
OUR STRATEGY OUR PIPELINE OF PROJECTS El Encanto El Encanto K E Y I N D I C AT O R S Maximum estimated capacity 250 MW Estimated capacity factor 25% Maximum estimated net 553 GWh annual generation Storage System 260 MW x 4 hours Location: Land surface 10 ha O’Higgins Region Connection point SE Porte
Slide 36: Our Pipeline of Projects: Junquillos
OUR STRATEGY OUR PIPELINE OF PROJECTS Junquillos Junquillos K E Y I N D I C AT O R S Maximum estimated capacity 473 MW Estimated capacity factor 30% Maximum estimated net 1,243 GWh annual generation Land surface 6,200 ha Connection point S/E Mulchén 220 kV (Colbun) Env. Impact Study Under environmen
Slide 37: Our Pipeline of Projects: Cuatro Vientos
OUR STRATEGY OUR PIPELINE OF PROJECTS Cuatro Vientos Cuatro Vientos K E Y I N D I C AT O R S Maximum estimated capacity 360 MW Estimated capacity factor 25% Maximum estimated net 800 GWh annual generation Land surface 5,200 ha Connection point S/E Tineo 220 kV Env. Impact Study Under environmental a
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