Colbun Sa · BCS:COLBUN
Colbun Sa — Fenix Power — Q4 2024 Earnings Presentation
11 slides from Colbun Sa's earnings presentation, Apr 10, 2025
Slide 1: Corporate Presentation 4th Quarter 2024
CORPORATE PRESENTATION 4 th Q u a r t e r 2 0 2 4
Slide 2: 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 3.7 TWh/year BBB- Stable efficient CCGT 2024 EBITDA 2024 Net Fitch in Peru generation US$84 mm Based on Heat Rate BBB- Stable S&P 572 MW 2.5 TWh/year CASH Gross effective 2
Slide 3: Power industry dynamics in Peru
MARKET OVERVIEW Power industry dynamics in Peru INSTALLED CAPACITY DEMAND GROWTH BY TECHNOLOGY (12-month average %) 7% 1% 3% 6% Hydro 4% 2.8% ✓ Stable regulatory Natural Gas 20% 37% Diesel Solar 14,344 2% framework Wind MW Coal & Others 0% ✓ US$ currency 2024 denominated market 32% MARGINAL COST EVO
Slide 4: 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: 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 ✓ ToP: 15% (Dec-May) 75% (Jun-Nov) Volume: 85.9 mmcfd 2 NATURAL GAS TRANSPORT TGP ✓ Counterparty: TGP ✓ Volume: 84.1 mmcfd
Slide 6: 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 2024 ENERGY SALES ✓ Average life of long-term PPAs of 6 years 33% ✓ US$ indexation ✓ Strong AAA locally-rated off takers 3,713 PPAs sales GWh SPOT sales 67% 3 PPAs PORTFOLIO (TWh) 4 NEW ENERGY SIGNED DURING 202
Slide 7: Power diversification matrix
PIPELINE OF PROJECTS Power diversification matrix BAYÓVAR 1.7 GW 250 MW + 410 MW NAYLAMP Wind farms 238 MW 0.4 GW PV plants PROGRESS STAGE 238 MW Preliminary studies Target of new 1,178 MW PAMPA 540 MW 500 renewable capacity Feasibility MW installed by 2030 660 MW TRES QUEBRADAS Environmentally 238
Slide 8: Financial figures
FINANCIAL REVIEW Financial figures 1 OPERATING REVENUES (US$ million)1 2 EBITDA (US$ million & %)2 EBITDA EBITDA margin 312 253 105 98 100% 221 100 84 159 172 65 70 50% 50 41% 40% 42% 38% 31% 0 0% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 3 DEBT/EBITDA (x)2 4 FINANCIAL EXPENSES COVERAGE (x)
Slide 9: Long-term debt profile
FINANCIAL REVIEW Long-term debt profile BOND AMORTIZATION STRUCTURE (US$ million) 168 16 18 2025 2026 2027 1 OUTSTANDING DEBT PROFILE 2 FENIX BOND ISSUANCE (US$ million)1 ✓ Amount outstanding: US$202 mm ✓ Average life: 2.4 years ✓ Coupon: 4.3% 202 87 11 ✓ Maturity: Sep-27 ✓ Format: 144A/Reg S ✓ Repa
Slide 10: Sustainability
SUSTAINABILITY ESG Milestones 500 MW of renewable Carbon footprint Efficient water Waste energy by 2030 reduction: use: management: ENVIRONMENTAL ✓ 50% net reduction Operational ✓ 73% of waste by 2030 compared (m3/MWh): recycled in 2024. to 2023. ✓ Zero Direct Water ✓ H2V plant Footprint. implemente
Slide 11: Corporate Presentation
CORPORATE PRESENTATION 4 th Q u a r t e r 2 0 2 4