Grupo Empresas Navieras S.A. · BCS:NAVIERA

Grupo Empresas Navieras — Investor Presentation (October 2018)

30 slides from Grupo Empresas Navieras's investor presentation, October 2018

  1. Slide 1: Grupo Empresas Navieras Company Overview

    ~—en Grupo Empresas Navieras UN GRUPO DE EMPRESAS QUE MUEVEN AL MUNDO COMPANY OVERVIEW) Oct 2018

  2. Slide 2: Disclaimer

    Disclaimer  This document was prepared by GEN with the solely purpose of providing general information about the company and its subsidiaries. The information included in this document is given in summary form and does not purport to be complete. Information in this presentation, including forecast

  3. Slide 3: Index

     Index Introduction Business Lines GEN Financial Highlights Outlook 3

  4. Slide 4: History

     History In June 1983 Euroandina de Inversiones S.A. was The company changed its name to EMPRESAS NAVIERAS S.A., There was a merger between formed - today Grupo Empresas Navieras S.A. - to act which resolved to increase the shared capital, thereby Portuaria Cabo Froward S.A. preferentially as an in

  5. Slide 5: Organizational Structure

     Organizational Structure 75.0% 75.0% 83,2% 91.9% 99% 81,1% 14,6% 14,6% 50% Andes 55,3% 35% 25% Atacama 55,3% 5

  6. Slide 6: Concentrated ownership

     Concentrated ownership Shareholders - GEN Shareholders - CMC 5,55% 0,81% 0,35% 0,58%2,13% 0,98% 3,99% Tongoy, Paine, Naval, Dos Robles, Monte Alto, Finvest, etc GEN 14,64% BTG Pactual Small Cap 6,40% Moneda (1) AFP Provida Credicorp Capital Corredores Credicorp Capital S.A. C.B. de B. Banchile Cor

  7. Slide 7: Index

     Index Introduction Business Lines GEN Financial Highlights Outlook 7

  8. Slide 8: Main Businesses – Maritime, Air and Land Logistics

     Main Businesses – Maritime, Air and Land Logistics. Maritime Transport Ports Airports Agency Services Logistics and Distribution 8

  9. Slide 9: CMC – Business Lines

     CMC – Business Lines Shipowning Cabotage Business Lines 4 x 9.000 teu Fleet 4 x 52.200 m3 tankers 3 x 3.100 teu 14.6% 2 x 9.000 teu 100% 4 x 52.200 m3 Vessel Ownership 55.3% 2 x 9.000 teu tankers 50% 3 x 3.100 teu GEN, NSC and HSUD in 9.000 teu Peter Dohle in 3.100 teu Partners / Clients 9

  10. Slide 10: CMC – Business Lines

     CMC – Business Lines Shipowning Cabotage Business Lines CMC x Business Line [MUSD] CAR Carrier Cabotage 9000 NB Vessels 3100 Vessels 20.000 17.355 15.000 10.966 10.000 6.377 5.694 4.361 4.707 5.000 3.506 2.335 2.349 2.864 1.702 1.942 2.101 2.172 0 -570 -688 -1.285 -2.284 -2.090 -5.000 -4.921 -10.0

  11. Slide 11: CMC – Financial Highlights

     CMC – Financial Highlights CMC Consolidated US$ millions 2014 2015 2016 2017 H1 - 17 H1 -18 Sales 90,8 95,0 90,7 75,4 34,7 35,7 Operational Result 15,0 17,2 21,6 27,6 13,1 12,0 Financial Expenses -1,8 -5,4 -10,9 -11,9 -5,7 -6,3 Other Non Op. -0,9 -0,4 -0,6 -0,3 -0,5 0,1 Non-Operational profit (los

  12. Slide 12: Agunsa – Business Lines

     Agunsa – Business Lines Agency and Shipowning Representations Logistics Terminals (CPT) • Maritime • National and • Tugboats • Concessions and Representations International Airport Terminals Logistics • Wellboats (Operation and • Airlines Administration) Representations • Transport • Austral Conne

  13. Slide 13: Agunsa – Business Lines

     Agunsa – Business Lines Agency Services and Representations Total Revenue Global Presence 322.839 Estados Unidos 293.588 279.842 El Salvador Guatemala Costa Rica Venezuela Nicaragua Argentina Honduras Colombia 259.624 Uruguay Ecuador Panamá España México Japón China Brasil Chile Perú 190.184 Agenc

  14. Slide 14: Agunsa – Business Lines

     Agunsa – Business Lines Logistics Warehousing Different Yards TOTAL m2 % m2 % m2 % Logitics: Total Revenue EEUU Miami 1.400 0,5% 3.000 0,1% 4.400 0,2% Santiago 128.000 49,9% 640.000 26,6% 768.000 28,8% Iquique 6.000 2,3% 0 0,0% 6.000 0,2% Antofagasta 2.500 1,0% 22.000 0,9% 24.500 0,9% 243.388 245.

  15. Slide 15: Agunsa – Business Lines

     Agunsa – Business Lines Airport Terminals Passenger Terminals Airports Cruise Terminal Magallanes Calama La Serena Valparaíso # of passenger 2016 994.971 1.438.476 775.928 92.657 # of passenger 2017 1.066.278 1.554.037 801.548 92.657 # of passenger 2018 (P) 1.250.000 2.000.000 1.050.000 % particip

  16. Slide 16: Agunsa – Business Lines

     Agunsa – Business Lines Vessels (CPT) Tugboats Wellboats Motorboats Barges Ferries 3 16

  17. Slide 17: Agunsa – Financial Highlights

     Agunsa – Financial Highlights Agunsa (Consolidated) MMUSD 2014 2015 2016 2017 H1 - 17 H1 - 18 Sales 612,2 404,0 311,7 457,2 204,5 247,3 Gross Margin 88,2 61,6 51,1 70,7 32,9 35,1 Administrative Expenses -64,2 -49,3 -42,3 -44,8 -20,8 -21,2 Operating Income 24,0 12,3 8,8 25,9 12,1 13,9 Sales (US Mil

  18. Slide 18: Agunsa – Financial Highlights

     Agunsa – Financial Highlights Agunsa Consolidated MMUSD 2014 2015 2016 2017 H1 -17 H1 - 18 Operational Result 24,0 12,3 8,8 25,9 12,1 13,9 Financial Expenses -12,2 -9,4 -7,0 -7,1 -4,0 -5,2 Other Non Op. 33,0 66,4 10,9 9,4 5,3 3,6 Non-Operational profit (loss) 20,9 57,0 3,9 2,3 1,3 -1,6 Tax -5,1 -1

  19. Slide 19: Agunsa – Financial Highlights

     Agunsa – Financial Highlights Agunsa Consolidated US$ millions 2014 2015 2016 2017 H1 - 17 H1 - 18 Sales 612,2 404,0 311,7 457,2 204,5 247,3 Operational Result 24,0 12,3 8,8 25,9 12,1 13,9 Financial Expenses -12,2 -9,4 -7,0 -7,1 -4,0 -5,2 Other Non Op. 33,0 66,4 10,9 9,4 5,3 3,6 Non-Operational pr

  20. Slide 20: Portuaria Cabo Froward

     Portuaria Cabo Froward Coronel (VIII Region) Calbuco (X Region) Puchoco Dock, Jureles y Chollín San Jose Dock and General Cargo Terminal  The cargo moved through Cabo Froward is concentrated in the Forest, Industrial and Mining businesses, reaching 5.8 million tons in 2017.  It offers the entire

  21. Slide 21: Portuaria Cabo Froward

     Portuaria Cabo Froward Volume (MTONS) Main Customers Coronel Calbuco Type of cargo Customer 7.000 50% 39,3% 5.894 6.000 40% Clinker Melón X 31,0% 5.307 Polpaico X 5.000 4.387 30% 4.254 19,9% 3.764 3.703 3.808 4.000 13,8% 20% Coal Enel X MTON 13,0% 11,1% 9,1% 3.445 2.874 2.874 3.000 2.525 3,1% 2,8%

  22. Slide 22: Portuaria Cabo Froward

     Portuaria Cabo Froward Portuaria Cabo Froward US$ millions 2014 2015 2016 2017 H1-17 H1-18 Sales 25,9 25,6 41,1 44,3 21,2 27,6 Operational Result 6,0 7,3 13,1 14,7 7,8 10,3 Financial Expenses -1,1 -0,9 -0,7 -0,7 -0,4 -0,4 Other Non Op. -1,7 0,9 0,6 1,2 0,3 -0,1 Non-Operational profit (loss) -2,8 0

  23. Slide 23: Index

     Index Introduction Business Lines GEN Financial Highlights Outlook 23

  24. Slide 24: GEN - Financial Highlights

     GEN - Financial Highlights Grupo Empresas Navieras US$ millions 2014 2015 2016 2017 H1 -17 H1 - 18 Sales 680,8 521,0 456,1 603,7 272,9 324,9 Operational Result 53,9 47,7 54,7 79,4 37,0 41,1 Financial Expenses -18,0 -22,4 -24,9 -26,7 -13,5 -15,7 Other Non Op. 25,1 32,9 9,3 4,8 5,8 7,5 Non-Operation

  25. Slide 25: GEN - Financial Highlights

     GEN - Financial Highlights GEN - Net Profit (loss) - Controlling Interest Continued & discontinued activities 2014 2015 2016 2017 GEN (Ind) MUSD 2014 2015 2016 2017 H1-2017 H2-2018 140,000 Gross Income Administration Expenses -4.933 -6.476 -5.049 -4.609 -2.029 -2.400 120,000 Other Income 1.473 2.8

  26. Slide 26: GEN - Financial Liabilities

     GEN - Financial Liabilities Financial Liabilities [musd] Financial Liabilities [MUSD] Dec 15 Dec 16 Dec 17 Jun 18 100% 4.530 Liabilities with banks 448.440 464.043 506.326 488.887 8.073 5.988 9.369 Bonds payable 44.044 47.766 52.967 50.694 Capital lease obligations 30.026 35.167 37.795 36.066 36.0

  27. Slide 27: GEN and subs: Main covenants

     GEN and subs: Main covenants Empresa Ítem Covenant Dic 14 Dic 15 Dic 16 Dic 17 Jun 18 GEN Bonos Mercado Local Nivel de Endeudamiento: GEN Individual <= 0.6 x 0,26 0,12 0,15 0,25 0,19 CMC <= 2.25 x 0,12 0,57 0,81 0,95 0,95 AGUNSA <= 1.5 x 0,72 0,68 0,75 0,69 0,82 FROWARD <= 1.35 x 0,40 0,24 0,13 0,

  28. Slide 28: Index

     Index Introduction Business Lines GEN Financial Highlights Outlook 28

  29. Slide 29: Opportunities and Risks

     Opportunities and Risks  Opportunities  New long-term business taking advantage of the shipping and port know-how.  New logistic businesses.  Detachment of non-essential assets.  Increase in the participation in the subsidiaries.  Risks/Challenges  3.100 teu vessels.  Replacement of lost a

  30. Slide 30: Grupo Empresas Navieras Company Overview

    ~—en Grupo Empresas Navieras UN GRUPO DE EMPRESAS QUE MUEVEN AL MUNDO COMPANY OVERVIEW) Oct 2018

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