Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Endesa Chile — FY2012 Earnings Presentation
24 slides from Enel Chile Sa's earnings presentation, Jan 31, 2013
Slide 1: Endesa Chile YE 2012 results
31 | 01 | 2013 endesa chile YE 2012 results
Slide 2: Highlights of 2012
Endesa Chile consolidated results YE 2012 Highlights of 2012 Lower hydro generation in Chile, mainly explained by a third consecutive year of a severe drought. 6% growth of installed capacity in Chile, related to Bocamina II start up. 14% decrease in consolidated EBITDA explained by our operations i
Slide 3: Results affected by the drought in Chile and high fuel costs
Endesa Chile consolidated results YE 2012 Results affected by the drought in Chile and high fuel costs 2011 2012 2012 Indicator Change MM ch$ MM ch$ MM US$* Revenues 2,404,490 2,369,386 (1%) 4,869 Operational Expenses (1,217,260) (1,328,703) 9% (2,731) Contribution margin 1,187,230 1,040,684 (12%) 2
Slide 4: EBITDA by Country
Endesa Chile consolidated results YE 2012 EBITDA by Country Total Installed Capacity: 14,185 MW Total Generation : 53,517 GWh Chile Chile Argentina 38% Argentina 42% 21% 26% Peru Peru 16% 12% Colombia Colombia 20% 25% EBITDA 2012: US$ 1,714 million Argentina 3% Chile 35% Peru 17% Endesa Brasil • End
Slide 5: Prudent Commercial Policy
Endesa Chile consolidated results YE 2012 Prudent Commercial Policy Physical Sales as 2012 Chile Colombia Peru Argentina 4% 5% 18% 30% 28% 30% 53% 66% 65% 82% 19% Regulated Free Clients Spot Physical Sales as 2011 Chile Colombia Peru Argentina 8% 9% 19% 30% 31% 51% 61% 64% 27% 81% 19% Regulated Free
Slide 6: Strong Financial Position
Endesa Chile consolidated results YE 2012 Strong Financial Position 2011 2012 2012 Indicator Change % Change MM Ch$ MM Ch$ MM US$ Gross Debt 1,808,969 1,958,068 (8%) (149,098.28) 4,080 Cash1 421,282 301,914 40% 119,367.82 629 Net Debt 1,387,687 1,656,153 (16%) (268,466.10) 3,451 Leverage 0.91 0.89 (
Slide 7: Healthy Debt Profile and Credit Risk Ratings
Endesa Chile consolidated results YE 2012 Healthy Debt Profile and Credit Risk Ratings Financial Debt US$ Millions 2013 2014 2015 2016 2017 Balance TOTAL Chile 668 140 220 16 13 928 1,985 Argentina - - - 230 36 7 273 Perú 54 54 36 60 50 83 336 Colombia - 119 80 164 23 1,099 1,486 TOTAL 952 310 428 9
Slide 8: Free Cash Flow (US$ million)
Endesa Chile consolidated results YE 2012 Free Cash Flow (US$ million) 2.248 2.098 2.014 1.714 1.070 1.012 776 494 (51) (305)(235)(251)(300) (308)(353) (435)(381) (394) (564)(499)(551)(538) (523)(462) EBITDA Net Financial Result CAPEX Income Tax FCF Dividends 2009 2010 2011 2012 1 Payments for addit
Slide 9: Argentina
Endesa Chile consolidated results YE 2012 Argentina Installed Capacity: 3,652 MW Market Share: 12% Total Generation: 11,289 GWh EL CHOCÓN Hydro El Chocón: 1,328 MW 1,328 MW Million US$ 2011 2012 Change Revenues 99 101 2% EBITDA 55 56 3% CIEN Line (2x1,050 MW) Interconnection EBITDA Margin 54.9% 55
Slide 10: Peru
Endesa Chile consolidated results YE 2012 Peru Installed Capacity: 1,657 MW Market Share: 24% Total Generation: 8,740 GWh EDEGEL Cuenca Río Rímac: 552 MW 45% Hydro Yanango: 43 MW 746 MW Chimay: 151 MW Ventanilla: 485 MW 55% Thermal Santa Rosa: 426 MW 911 MW Million US$ 2011 2012 Change Lima: • Edege
Slide 11: Chile
Endesa Chile consolidated results YE 2012 Chile Installed Capacity1: 5,961 MW Market Share: 33% Total Generation: 20,194 GWh Tarapaca ENDESA CHILE Los Molles: 18 MW Rapel-Sauzal: 466 MW D. Almagro–Taltal Maule: 875 MW 58% Hydro Huasco Laja: 940 MW 3,456 MW Ralco-Pangue: 1,157 MW Los Molles San Isidr
Slide 12: Colombia
Endesa Chile consolidated results YE 2012 Colombia Installed Capacity: 2,914 MW Market Share: 20% Total Generation: 13,294 GWh EMGESA Guavio: 1,213 MW Cartagena Betania: 541 MW 85% Hydro 2,470 MW Río Bogotá: 716 MW Cartagena: 208 MW 15% Thermal Bogotá Termozipa: 236 MW 444 MW Million US$ 2011 2012 C
Slide 13: Brazil
Endesa Chile consolidated results YE 2012 Brazil Installed Capacity: 987 MW Market Share: 1% Total Generation: 5,177 GWh CACHOEIRA Hydro Fortaleza Cachoeira: 665 MW 665 MW Million US$ 2011 2012 Change Revenues 260 319 23% Cachoeira EBITDA 193 229 19% Rio de Janeiro EBITDA Margin 74.0% 71.9% (3% ) Ph
Slide 14: Expected Evolution for Endesa Chile Installed Capacity
Endesa Chile consolidated results YE 2012 Expected Evolution for Endesa Chile Installed Capacity Percentage increase over installed capacity, year 2011 (13.845 MW) 18% 490 740 188 6% 150 88 145 145 400 400 3% 350 350 350 13,845 13.845 13.845 13.845 2011 2012 Under Construction On Basic Engineering Y
Slide 15: Conclusions
Endesa Chile consolidated results YE 2012 Conclusions 1.- Severe drought affecting Chile 2.- Diversified portfolio 3.- Non-recurrent accounting effects 4.- Situation with BG 15
Slide 16: Exhibits
Endesa Chile consolidated results YE 2012 EXHIBITS 16
Slide 17: New Plant Start-Up Increasing Capacity
Endesa Chile consolidated results YE 2012 New Plant Start-Up Increasing Capacity Bocamina II • Thermal, coal fired power plant • Located in Coronel, Bío-Bío region • 350 MW of installed capacity • Estimated load factor: 65% • Capex: US$ 841 MM Investment • On October 29th, 2012, Bocamina II started
Slide 18: Projects Under Construction
Endesa Chile consolidated results YE 2012 Projects Under Construction El Quimbo • Hydro power plant. • Located in Huila Department • Utilizes stream coming from Magdalena river • 400 MW of installed capacity • Estimated load factor: 60% • River detour in March 2012 • Capex: US$ 837 MM Investment • E
Slide 19: Projects Under Construction
Endesa Chile consolidated results YE 2012 Projects Under Construction Salaco Chain (optimization) • Repowering the minor plants to reach a 260 MW power. • Located in the Bogota River system. • Optimization works started on January 2013. • 145 MW will be added to the current capacity. • Estimated sta
Slide 20: Projects Under Study
Endesa Chile consolidated results YE 2012 Projects Under Study Neltume • Hydro power plant, run of the river • Located in Panguipulli, in Los Ríos region (SIC). • 490 MW of installed capacity. Los Cóndores • Hydro power plant • Located in San Clemente, in Maule region • 150 MW of installed capacity
Slide 21: Projects Under Study
Endesa Chile consolidated results YE 2012 Projects Under Study Punta Alcalde • Thermal, Coal-steam power plant • Located in Huasco, in Atacama region (SIC) • 740 MW of installed capacity • EIS approved by the Ministers Committee on Dec 03th 2012 Curibamba • Hydro power plant • Located in Junín Depar
Slide 22: Projects Under Study
Endesa Chile consolidated results YE 2012 Projects Under Study Renaico • Wind farm • Located in Araucanía region (SIC) • 88 MW of installed capacity • EID approved for the generation plants. 22
Slide 23: Projects Under Study: Hidroaysén
Endesa Chile consolidated results YE 2012 Projects Under Study Hidroaysén • Hydro power plant located in Aysén region • 2,750 MW of installed capacity • EIS approved for the generation plants (5) • One of the most efficient hydroelectric projects in the world, using renewable resources • Average loa
Slide 24: Endesa Chile consolidated results YE 2012
Endesa Chile consolidated results YE 2012 “This document is the property of ENDESA and therefore must not be disseminated or published without ENDESA's prior written consent. The content of this document is provided for information purposes only and therefore has no contractual substance and should