Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Endesa Chile — H1 2015 Earnings Presentation
22 slides from Enel Chile Sa's earnings presentation, Jul 28, 2015
Slide 1: Endesa Chile 1H15 Results
Endesa Chile 1H15 Results July 28th,2015
Slide 2: Highlights
Highlights Consolidated generation rose by 8% Consolidated EBITDA increased by 9% Significant improvement in Chile Bocamina II restarted its operations El Quimbo started to fill its reservoir Redefined portfolio, 36 projects amounting to 6,300 MW USE: Public Endesa Chile 1H15 Results Investor Relati
Slide 3: Consolidated financial highlights
Consolidated financial highlights US$ Mn2 Ch$ million1 1H15 1H14 Change 1H15 Revenues 1,296,577 1,137,127 14% 2.087 Costs (698,801) (602,407) 16% (1.125) Contribution Margin 597,776 534,720 12% 962 EBITDA 462,624 422,582 9% 744 EBIT 350,423 325,354 8% 564 Net Financial Expenses (83,575) (81,459) 3%
Slide 4: Diversified source of EBITDA
Diversified source of EBITDA Total Installed Capacity1: Total Generation: 14,735 MW 25,259 GWh Argentina Argentina 23% 25% Chile 35% Chile 43% Peru Peru 11% 16% EBITDA 1H15 Colombia Colombia 21% US$ 744 million 26% Argentina 5% Peru Chile 20% 31% Enel Brasil • Endesa Chile’s ownership: 37.1%. • Net
Slide 5: Balanced commercial policy
Balanced commercial policy Physical Sales as of June 2015: 29,795 GWh Chile Colombia Peru Argentina 6% 10% 5% 18% 29% 50% 52% 38% 76% 21% 95% Distribution Unregulated Spot Companies Customers Physical Sales as of June 2015 Gwh / Change1 CHILE COLOMBIA PERU ARGENTINA TOTAL REGULATED 8,592 10% 4,025 1
Slide 6: Healthy debt maturity profile
Healthy debt maturity profile • Debt reduction: Financial Debt Maturity1 as of June 2015 US$ 850 MM Total Debt: US$ 3,555 MM • Cash: 2.500 1.964 US$ 95 MM 2.000 • Committed Credit Lines: 1.500 US$ 344 MM 1.000 553 261 • Non-Committed Credit Lines: 500 208 94 79 180 104 18 51 22 21 US$ 282 MM 0 < 1 y
Slide 7: Consolidated Cash Flow Generation (US$ million)
Consolidated Cash Flow Generation (US$ million)1 1.200 1.000 800 513 (503) 600 42 (0) (67) 400 542 (514) 200 81 3 95 0 Cash and Funds from Capex Funds from Other Loan Dividend Other Exchange Cash and equivalents operations assets investments payments payment financing rate effects equivalents Dec-14
Slide 8: Argentina
Argentina Installed Capacity: 3,652 MW Thermal Costanera: 2,324 MW Market Share*: 12% 2,324 MW Total Generation: 5,783 GWh Hydro El Chocón: 1,328 MW COSTANERA 1,328 MW Million US$ 1H 2015 1H 2014 Change Revenues 71 59 20% EBITDA 28 28 2% EBITDA Margin 40.0% 47.2% (15%) Physical Sales (GWh) 4,495 3,4
Slide 9: Chile
Chile Tarapaca Installed Capacity: 6,351 MW ENDESA CHILE GasAtacama Market Share*: 32% D. Almagro– Los Molles: 18 MW Taltal Total Generation: 8,691 GWh Rapel-Sauzal: 466 MW Huasco Maule: 875 MW 54% Hydro Million US$ 1H 2015 1H 2014 Change 3,456 MW Los Molles Laja: 940 MW San Isidro Revenues 1,186 89
Slide 10: Colombia
Colombia Installed Capacity: 3,059 MW EMGESA Market Share*: 20% Guavio: 1,213 MW Total Generation: 6,642 GWh Betania: 541 MW 85% Hydro Río Bogotá: 861 MW 2,615 MW Million US$ 1H 2015 1H 2014 Change Cartagena: 208 MW 15% Thermal Revenues 529 580 (9%) Termozipa: 236 MW 444 MW EBITDA 329 383 (14%) EBIT
Slide 11: Peru
Peru Installed Capacity: 1,673 MW EDEGEL Market Share*: 19% Total Generation: 4,143 GWh Cuenca Río Rímac: 582 MW 46% Hydro Yanango: 43 MW 776 MW Chimay: 152 MW Million US$ 1H 2015 1H 2014 Change Revenues 278 271 3% Ventanilla: 484 MW 54% Thermal Santa Rosa: 413 MW 896 MW EBITDA 145 140 4% EBITDA Mar
Slide 12: Brazil
Brazil Installed Capacity: 987 MW Market Share*: 1% Thermal Fortaleza: 322 MW Total Generation: 2,056 GWh 322 MW CACHOEIRA Cachoeira: 665 MW Hydro 665 MW Million US$ 1H 2015 1H 2014 Change Revenues 85 169 (50%) EBITDA 70 106 (33%) EBITDA Margin 82.8% 62.6% 32% Physical Sales (GWh) 1,574 2,171 (27%)
Slide 13: Projects under construction
Projects under construction El Quimbo Los Cóndores • Hydro power plant, located in the Huila Department, Colombia • Hydro power plant, run of the river. • Utilizes the flow coming from the Magdalena River. • Located in San Clemente, in Maule region, Chile. • 400 MW of installed capacity with an esti
Slide 14: Corporate Reorganization
Corporate Reorganization Summary Significant Event: July 27, 2015 The Board of Directors resolved that, if approved, the transaction should be executed as follows: • EXECUTION STRUCTURE Each of the current companies known as Chilectra, Endesa Chile and Enersis would carry out spin-offs, in order to
Slide 15: Corporate Reorganization: Indicative transaction timeline
Corporate Reorganization Indicative transaction timeline Preparation of transaction reports Spin-off process: ~ 3 months Merger process: ~ 6 months BoDs to decide on EGMs to vote spin- Merger of BoDs EGMs to the execution of the offs2 and present Spin-offs Enersis defined the Transaction vote the tr
Slide 16: Summary
Summary Higher consolidated energy sales due to increasing electric demand Consolidated EBITDA increased by 9%, mainly explained by Chile Solid financial position Bocamina II restarted its operations LNG potential increase offtake El Quimbo started to fill its reservoir Corporate reorganization proc
Slide 17: Endesa Chile's Investor Relations Team
Endesa Chile’s Investor Relations Team Susana Rey Catalina Gonzalez Head of Investor Relations Investor Relations Senior Analyst (56) 22630 9606 (56) 22630 9603 susana.rey@enel.com catalina.gonzalez@enel.com Guillermo Berguecio Francisco Basauri Investor Relations Analyst Investor Relations Analyst
Slide 18: Exhibits
EXHIBITS USE: Public Endesa Chile 1H15 Results Investor Relations 18
Slide 19: Installed capacity and energy generation
Installed capacity and energy generation MW CHILE COLOMBIA PERU ARGENTINA TOTAL HYDRO 3,456 2,615 776 1,328 8,176 Installed COAL 636 236 0 0 872 Capacity (MW) OIL-GAS 2,173 208 896 2,324 5,601 NCRE 87 0 0 0 87 Total 6,351 3,059 1,673 3,652 14,735 Gwh / Change1 CHILE COLOMBIA PERU ARGENTINA TOTAL HYD
Slide 20: Strong financial position
Strong financial position US$ Mn1 Ch$ Million 1H15 1H14 Change % Change 1H15 Gross Debt 2,125,598 2,116,462 9,136 0% 3,326 Cash 60,911 336,629 (275,718) (453%) 95 Net Debt 2,064,687 1,779,833 284,854 14% 3,231 Leverage 1.04 1.05 (0.01) (1%) Financial Coverage 4.95 4.74 0.21 4% 1Amounts translated in
Slide 21: Healthy debt maturity profile in each country
Healthy debt maturity profile in each country Financial Debt Maturity1, as of June 2015 US$ million 2015 2016 2017 2018 2019 Balance TOTAL Chile 506 11 11 11 49 1,202 1,789 Argentina 23 40 8 2 2 34 110 Peru 31 75 27 37 16 28 214 Colombia 130 8 82 100 156 966 1,441 TOTAL2 690 134 128 151 223 2,229 3,
Slide 22: 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