Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Endesa Chile — Q1 2013 Earnings Presentation
22 slides from Enel Chile Sa's earnings presentation, Apr 30, 2013
Slide 1: Endesa Chile 1Q 2013 results
30| 04 | 13 endesa chile 1Q 2013 results
Slide 2: Highlights of 1Q 2013
Endesa Chile consolidated results 1Q 2013 Highlights of 1Q 2013 Higher Revenues in Colombia, mainly explained by higher average sales price as a consequence of lower water availability. Lower generation costs, mainly explained by the commissioning of Bocamina II and lower LNG price. 7% increase in c
Slide 3: Results affected by the drought in Chile
Endesa Chile consolidated results 1Q 2013 Results affected by the drought in Chile 1Q 2012 1Q 2013 3M 2013 Indicator Change MM ch$ MM ch$ MM US$1 Revenues 541,703 489,433 (10%) 1,036 Operational Expenses (308,108) (244,770) (21%) (518) Contribution margin 233,595 244,663 5% 518 EBITDA 182,422 195,97
Slide 4: EBITDA by Country
Endesa Chile consolidated results 1Q 2013 EBITDA by Country Total Installed Capacity 1: 13,794 MW Total Generation 1 (TTM): 53,255 GWh Chile Argentina Chile Argentina 40% 21% 38% 27% Peru Peru 16% 12% Colombia Colombia 21% 25% EBITDA 3M13 (TTM): US$ 1,791 million Argentina 3% Chile 35% Peru 17% Ende
Slide 5: Prudent Commercial Policy
Endesa Chile consolidated results 1Q 2013 Prudent Commercial Policy Physical Sales as of March 2013 Chile Colombia Peru Argentina 1% 13% 18% 24% 32% 49% 53% 34% 75% 82% 19% Regulated Unregulated Spot Physical Sales as of March 2012 Chile Colombia Peru Argentina 1% 8% 27% 27% 31% 28% 53% 68% 64% 73%
Slide 6: Strong Financial Position
Endesa Chile consolidated results 1Q 2013 Strong Financial Position 1Q 2012 1Q 2013 3M 2013 Indicator Change % Change MM Ch$ MM Ch$ MM US$ Gross Debt 1,861,469 1,897,402 2% 35,933.12 4,020 Cash1 260,798 206,417 (72%) (149,569.47) 437 Net Debt 1,505,482 1,690,985 11% 185,502.58 3,582 Leverage 0.90 0.
Slide 7: Healthy Debt Profile and Credit Risk Ratings
Endesa Chile consolidated results 1Q 2013 Healthy Debt Profile and Credit Risk Ratings Financial Debt Maturity US$ Million 2013 2014 2015 2016 2017 Balance TOTAL Chile 685 132 220 16 13 939 2,005 Argentina 216 39 7 - - - 262 Peru 37 54 36 60 50 83 319 Colombia - 77 159 22 115 1,061 1,434 TOTAL 939 3
Slide 8: Free Cash Flow (US$ million)
Endesa Chile consolidated results 1Q 2013 Free Cash Flow (US$ million) 2,098 2,014 1,791 1,714 1,012 779 494 450 (235) (251) (248) (300) (295) (353) (435) (381) (499) (549) (424) (523) (462) (538) (622) EBITDA Net Financial Result CAPEX Income Tax FCF Dividends 2010 2011 2012 1Q 2013 TTM 1Amounts ar
Slide 9: Argentina
Endesa Chile consolidated results 1Q 2013 Argentina Installed Capacity: 3,652 MW Market Share*: 12% Total Generation: 2,628 GWh EL CHOCÓN Hydro El Chocón: 1,328 MW 1,328 MW Million US$ 1Q 2012 1Q 2013 Change Revenues 24 17 (27% ) EBITDA 13 8 (36% ) EBITDA Margin 53.4% 47.2% (12% ) Physical Sales (GW
Slide 10: Peru
Endesa Chile consolidated results 1Q 2013 Peru Installed Capacity: 1,657 MW Market Share*: 23% Total Generation: 2,180 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 Lima: Million US$ 1Q 2012 1Q 2013 Change
Slide 11: Chile
Endesa Chile consolidated results 1Q 2013 Chile Installed Capacity1: 5,571 MW Market Share*: 30% Total Generation1: 4,894 GWh Tarapaca ENDESA CHILE Los Molles: 18 MW Rapel-Sauzal: 466 MW D. Almagro–Taltal Maule: 875 MW 62% Hydro Laja: 940 MW 3,456 MW Huasco Ralco-Pangue: 1,157 MW Los Molles Tarapaca
Slide 12: Colombia
Endesa Chile consolidated results 1Q 2013 Colombia Installed Capacity: 2,914 MW Market Share*: 20% Total Generation: 3,036 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$ 1Q 2012 1Q
Slide 13: Brazil
Endesa Chile consolidated results 1Q 2013 Brazil Installed Capacity: 987 MW Market Share*: 1% Total Generation: 1,246 GWh CACHOEIRA Hydro Fortaleza Cachoeira: 665 MW 665 MW Million US$ 1Q 2012 1Q 2013 Change Revenues 71 68 (4% ) EBITDA 46 41 (10% ) Cachoeira Rio de Janeiro EBITDA Margin 64.7% 60.7%
Slide 14: Projects Under Construction
Endesa Chile consolidated results 1Q 2013 Projects Under Construction El Quimbo • Hydro power plant. • Located in the Huila Department • 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
Endesa Chile consolidated results 1Q 2013 Projects Under Construction Salaco Chain (optimization) • Repowering the minor plants to reach 260 MW power. • Located in the Bogotá River system. • Optimization works started on January 2013. • 145 MW will be added to the capacity. 15
Slide 16: Projects Under Study
Endesa Chile consolidated results 1Q 2013 Projects Under Study Renaico • Wind farm • Located in the Araucanía region (SIC) • 88 MW of installed capacity • Environmental Impact Statement approved for the generation plants. 16
Slide 17: Projects Under Study
Endesa Chile consolidated results 1Q 2013 Projects Under Study Los Cóndores • Hydro power plant • Located in San Clemente, in thr Maule Region • 150 MW of installed capacity • EIS approved. Curibamba • Hydro power plant • Located in Junín Department, utilizes streams coming from Comas and Uchubamba
Slide 18: Projects Under Study
Endesa Chile consolidated results 1Q 2013 Projects Under Study Punta Alcalde • Thermal, Coal-steam power plant • Located in Huasco, in the Atacama Region (SIC) • 740 MW of installed capacity • EIS approved by the Ministers Committee on Dec 3, 2012 Neltume • Hydro power plant, run of the river • Loca
Slide 19: Projects Under Study: HidroAysén
Endesa Chile consolidated results 1Q 2013 Projects Under Study HidroAysén • Hydro power plants 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 lo
Slide 20: Expected Evolution for Endesa Chile Installed Capacity
Endesa Chile consolidated results 1Q 2013 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 3% 400 400 350 350 350 13,845 13,845 13,845 13,845 2011 2012 Under Construction On Basic Engineering Y
Slide 21: Conclusions
Endesa Chile consolidated results 1Q 2013 Conclusions 1.- Severe drought affecting Chile 2.- Good results in Colombia 3.- Negative Tax effect in Chile and Colombia 4.- Lower consolidated energy generation due to Argentina, partially compensated for by higher thermal generation in Chile due to Bocami
Slide 22: Endesa Chile consolidated results 1Q 2013
Endesa Chile consolidated results 1Q 2013 “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