Slide 1: Endesa Chile 1Q14 Results
Endesa Chile 1Q14 Results May 06th 2014
Slide 2: Highlights
Highlights 43% decrease in Net Income attributable to Endesa Chile’s shareholders, mainly explained by a higher procurement and services cost and a greater negative exchange rate difference 6% decrease in consolidated EBITDA mainly due to 15% increase in Operating Costs due to higher energy purchase
Slide 3: Financial Highlights
Financial Highlights1 MM US2$ Ch$ million1 1Q14 1Q13 Change 1Q14 Revenues 521 489 6% 943 Costs (283) (245) 15% (512) Contribution Margin 238 245 (3%) 432 EBITDA 184 196 (6%) 333 EBIT 136 148 (8%) 246 Net Financial Expenses (49) (35) 39% (88) Related Company Results 38 29 29% 68 Taxes (41) (35) 15% (
Slide 4: Diversified Source of EBITDA
Diversified Source of EBITDA Total Installed Capacity 1: Total Generation 1 (TTM): 13,717 MW 49,827 GWh Chile Chile Argentina Argentina 37% 41% 20% 27% Peru Peru 17% 11% Colombia Colombia 21% 26% EBITDA 1Q14 (TTM): US$ 1,751 million Argentina 6% Chile 35% Peru 17% Endesa Brasil • Endesa Chile’s owne
Slide 5: Balanced Commercial Policy
Balanced Commercial Policy Physical Sales as of March 2014 Chile Colombia Peru Argentina 18% 9% 13% 31% 47% 55% 36% 82% 87% 22% Regulated Unregulated Spot Physical Sales as of March 2013 Chile Colombia Peru Argentina 1% 13% 24% 32% 18% 49% 34% 53% 75% 19% 82% Regulated Unregulated Spot 5
Slide 6: Healthy Debt Maturity Profile
Healthy Debt Maturity Profile Financial Debt Maturity1 •Cash: 2,000 Total Debt: US$ 3,845 MM 1,865 US$ 556 MM 1,800 US$ million 1,600 •Commited Credit Lines: 1,400 1,200 US$ 485 MM 1,000 871 800 •Non-Commited Credit 600 Lines: 400 210 200 174 209 76 115 89 19 69 25 123 US$ 345 MM 0 •Average life of
Slide 7: Consistent Cash Flow Generation
Consistent Cash Flow Generation (US$ million)1 1,977 1,751 1,714 697 599 494 (233) (241) (300) (277) (357) (381) (414) (381) (538) (590) (539) EBITDA Net Financial Result Payments for Additions of Income Tax Free Cash Flow Dividends* Fixed Assets 2012 2013 1Q 2014 TTM *Attributable to each period 1A
Slide 8: Strong Financial Position
Strong Financial Position Th US$1 Ch$ Million 1Q 2014 1Q 2013 Change % Change 1Q 2014 Gross Debt 1,919,545 1,894,496 25,049 1% 3,483 Cash 306,555 323,807 (17,253) (6%) 556 Net Debt 1,612,990 1,570,689 42,301 3% 2,926 Leverage 0.94 0.88 0.06 6% 0.94 Financial Coverage 3.56 5.15 (1.59) (45%) 3.56 Cred
Slide 9: Argentina
Argentina Installed Capacity: 3,652 MW Market Share*: 12% Total Generation: 1,942 GWh EL CHOCON Hydro El Chocón: 1,328 MW 1,328 MW Million US$ 1Q 2014 1Q 2013 Change Revenues 11 15 (25% ) EBITDA 5 7 (22% ) EBITDA Margin 49.1% 47.2% 4% Physical Sales (GWh) 735 574 28% Buenos Aires Costanera COSTANERA
Slide 10: Chile
Chile Installed Capacity: 5,571 MW Market Share*: 30% Total Generation: 4,062 GWh Tarapaca ENDESA CHILE Los Molles: 18 MW D. Almagro– Rapel-Sauzal: 466 MW Taltal 62% Hydro Maule: 875 MW Huasco Laja: 940 MW 3,456 MW Ralco-Pangue: 1,157 MW Los Molles San Isidro Tarapaca 182 MW Santiago D. Almagro–Talt
Slide 11: Colombia
Colombia Installed Capacity: 2,956 MW Market Share*: 20% Total Generation: 2,974 GWh Cartagena EMGESA Guavio: 1,213 MW Betania: 541 MW 85% Hydro 2,512 MW Termozipa Río Bogotá: 758 MW Bogotá Guavio Cartagena: 208 MW 15% Betania Thermal Termozipa: 236 MW 444 MW Río Bogotá Million US$ 1Q 2014 1Q 2013 C
Slide 12: Peru
Peru Installed Capacity: 1,539 MW Market Share*: 20% Total Generation: 2,080 GWh EDEGEL Cuenca Río Rímac: 556 MW 45% Hydro Yanango: 43 MW 750 MW Chimay: 151 MW 55% Ventanilla: 485 MW Thermal Ventanilla Santa Rosa: 304 MW 789 MW Lima Río Rimac Yanango Sta Rosa Chimay Million US$ 1Q 2014 1Q 2013 Chang
Slide 13: Brazil
Brazil Installed Capacity: 987 MW Market Share*: 1% Total Generation: 1,383 GWh CACHOEIRA Fortaleza Cachoeira: 665 MW Hydro 665 MW Million US$ 1Q 2014 1Q 2013 Change Revenues 111 58 91% Cachoeira EBITDA 81 35 130% Rio de Janeiro EBITDA Margin 73.2% 60.7% 21% CIEN Physical Sales (GWh) 1,189 923 29% C
Slide 14: Projects under construction
Projects under construction El Quimbo • Hydro power plant. • Located in the Huila Department, Colombia • Utilizes stream coming from Magdalena River. • 400 MW of installed capacity. • Estimated load factor: 60%. • River detour in March 2012. 14
Slide 15: Projects under construction
Projects under construction Salaco Chain (optimization) • Repowering the minor plants to reach 221 MW capacity. • Located in the Bogotá River system, Colombia • Optimization works started in January 2013. • 145 MW will be added to the capacity. • As of March 31, 2014, 2 repowered units have been com
Slide 16: Investments recently approved
Investments recently approved Los Cóndores • Hydro power plant, run of the river. • Located in San Clemente, in Maule region, Chile. • 150 MW of installed capacity. • Estimated load factor: 46% • FID1 approved on March 31, 2014. Gas Atacama • Thermal power plant, Gas - CCGT • Located in Mejillones,
Slide 17: Expected Evolution for Endesa Chile Installed Capacity
Expected Evolution for Endesa Chile Installed Capacity 22% increase over March 2014 installed capacity Taltal - 125 MW Los Cóndores - 150 MW Curibamba - 188 MW Punta Alcalde - 740 MW Neltume - 490 MW GasAtacama - 780 MW El Quimbo - 400 MW Salaco – 145 MW 13,717 13,717 13,717 13,717 March - 2014 Unde
Slide 18: Endesa Chile's Investor Relations Team
Endesa Chile´s Investor Relations Team Susana Rey Catalina Gonzalez Investor Relations Head of Investor Relations Director (56-2) 2630 9603 (56-2) 2630 9606 cbgs@endesa.cl susana.rey@endesa.cl Guillermo Berguecio Investor Relations Executive (56-2) 2630 9506 gabb@endesa.cl Contact us at: ir@endesa.c
Slide 19: Exhibits
EXHIBITS 19
Slide 20: Installed Capacity and Energy Generation
Installed Capacity and Energy Generation MW CHILE COLOMBIA PERU ARGENTINA TOTAL Total 5,571 2,956 1,539 3,652 13,717 Installed HYDRO 3,456 2,512 750 1,328 8,046 Capacity (MW) COAL 660 236 0 0 896 OIL-GAS 1,368 208 788 2,324 4,688 CHP / RENEWABLES 87 0 0 0 87 Gwh / Change2 CHILE COLOMBIA PERU ARGENTI
Slide 21: Balanced Debt Maturity in each country
Balanced Debt Maturity in each country Financial Debt Maturity1 US$ 2014 2015 2016 2017 2018 Balance TOTAL million Chile 300 576 14 12 12 857 1,770 Argentina 161 32 17 0 - - 211 Peru 31 38 62 51 37 46 265 Colombia 47 127 10 107 132 1,175 1,599 TOTAL2 538 773 104 171 180 2,079 3,845 1 Includes arrang
Slide 22: Projects Under Study
Projects Under Study Punta Alcalde • Thermal, coal-steam power plant. • Located in Huasco, in the Atacama region (SIC), Chile. • 740 MW of installed capacity. • Estimated load factor: 83% • On Jan 17, 2014, the Supreme Court of Chile reaffirmed the approval of the EIS1, in line with the ruling of th
Slide 23: Projects Under Study
Projects Under Study Neltume • Hydro power plant, run of the river. • Located in Panguipulli, in Los Ríos Region (SIC). • 490 MW of installed capacity. • EIS1 under review. Curibamba • Hydro power plant, run of the river. • Located in the Junín Department, utilizes streams coming from the Comas and
Slide 24: Projects Under Study
Projects Under Study HidroAysén • Hydro power plants located in Aysén Region. • Endesa Chile owns 51% and Colbún 49%. • 2,750 MW of installed capacity • Average load factor: 77%. • EIS1 approved the generation plants (5). 1 Environmental Impact Study. 24
Slide 25: Forward-looking statements 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, belief or current expecta