Enel Chile SA · BCS:ENELCHILE
Enel Chile SA — FY2016 Earnings Presentation
20 slides from Enel Chile SA's earnings presentation, Mar 1, 2017
Slide 1: Enel Chile 2016 results
Enel Chile 2016 results March 1st, 2017
Slide 2: Chilean highlights of the year
2016 proforma results* Chilean highlights of the year Enel Chile EBITDA increased 14%, amounting to 1.1 billion. Net Income attributable to shareholders increased 57%, amounting to 584 million. Important efficiencies accomplished. Generation Business Revenues increased by 8%, amounting to 2.
Slide 3: Market context in the period
2016 proforma results* Market context in the period Annual GDP Growth Chile Energy Demand Growth Average Spot Price Average Exchange Rate (%)1 (%) (USD/MWh) CLP vs USD2 2016 1.6% 2016 1.5% 2016 74 2016 677 2015 2.1% 2015 2.5% 2015 105 2015 655 Slow down of the economy, demand and price reduction 1.
Slide 4: Generation business – Operating highlights
2016 proforma results* Generation business – Operating highlights Installed capacity: 6.4 GW Net production: 17.6 TWh Energy Sales: 23.7 TWh +0.0% (4.0%) +0.6% 6.4 6.4 18.3 17.6 23.6 23.7 0.1 0.1 0.1 0.1 1.6 0.9 0.6 0.6 1.8 Spot 4.3 3.1 4.3 4.6 Unregulated 2.2 2.2 5.3 17.6 18.5 3.5 3.5 11.8 9.1 Regu
Slide 5: Distribution business - Operating highlights
2016 proforma results* Distribution business - Operating highlights Electricity Distributed: 15.9 TWh Number of customers: 1.8 mn SAIDI1: 207 minutes +0.2% +2.5% (8.0%) 15.9 15.9 1,826 225 1,781 1.0 1.2 Other 207 2.7 2.7 Tolls 2.7 2.5 Industrial 5.2 5.1 Commercial 4.3 4.4 Residential 2015 2016 2015
Slide 6: Financial highlights (constant US$ mn)
2016 proforma results* Financial highlights (constant US$ mn1) 2015 2016 Δ YoY 2016 Revenues 3,545 3,756 5.9% Revenues 3,157 Financial Statements reported to SVS, last 10 months Contribution Margin 1,355 1,544 13.9% Contribution Margin 1,295 Financial Statements Proforma EBITDA 998 1,133 13.5% EBITD
Slide 7: EBITDA by business (US$ mn)
2016 proforma results* EBITDA by business (US$ mn)1 + 13.5% 1,133 + 15% +4% 998 24% Dx Dx 26% 76% Gx Gx 74% 2015 Generation Distribution 2016 1 Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 676.67 CLP/USD. * Proforma Financial
Slide 8: EBITDA to Net Income (constant US$ mn)
2016 proforma results* EBITDA to Net Income (constant US$ mn1) 1,133 191 880 861 (253) (35) (175) 584 (277) 2 EBITDA D&A EBIT Financial Non Income tax Group Net Minorities Attributable Result Operating Income Shareholders Net Income Results 2015 (US$ mn) 998 (222) 777 (145) 43 (162) 513 (141) 372 Ch
Slide 9: Free cash flow (US$ mn)
2016 proforma results* Free cash flow (US$ mn) 1 214 Tax paid in Peru (196) 1,133 (Spin-off) 865 Maintenance (404) (78) (185) 204 664 (219) Growth 298 (366) EBITDA NWC Taxes Paid Financial FFO Capex Ext. Op. FCF Net Dividend NCF Expenses Paid Paid 1. Comparisons between periods in the Financial Inco
Slide 10: Recurrent Margin breakdown by business
2016 proforma results* Recurrent Margin breakdown by business Dx + Retail (US$ mn) Recurrent Margin (US$ mn) Non-Regulated Businesses (US$ mn) +3% +12% 409 421 70 78 4% 5% 7% 7% 19 6% 7% 17 26% 24% 29 28 57% 57% 24 30 2015 2016 2015 2016 Dx regulated Subtransmission Electric grids relocation Free Ma
Slide 11: Gross Capex (US$ mn)
2016 proforma results* Gross Capex1 (US$ mn) By activity By business Distribution Maintenance 30% 45% 405 405 55% 70% Growth Generation Los Cóndores will add 150 MW to the SIC 1. Gross of contributions and connections fees, accrued capex during 2016, including FX conversion effects. * Proforma Finan
Slide 12: Gross and Net Debt
2016 proforma results* Gross2 and Net Debt2 Gross and Net Debt (US$ mn) Gross Debt by type Gross Debt by currency (0.1%) 2% Others 42% Local 8% UF + CLP Bonds 1,275 1,273 Dollars 92% 204 International 56% 367 Bonds 2016 2016 1.071 906 Liquidity breakdown; 2015 2016 • Cash: US$ 367 MM • Committed Cre
Slide 13: Dividend distribution
2016 proforma results* Dividend distribution Attributable Net Income (US$mn) Dividend to be paid (Ch$ per share) +57.0% 3.2 2.11 2.53 584 486 372 0.82 2015 2016 March - December 2016 2015 2016 Interim Final Pay out will increase from actual 50% by 5% every year until 2019. 1. On 2015, Enel Chile onl
Slide 14: Efficiencies (US$ mn)
2016 proforma results* Efficiencies (US$ mn) Distribution Generation S&S Staff &Services (6.9%) (10.6%) (12.0%) 130 207 92 121 185 81 73.8 (9%) 67.1 32.9 (11%) 29.4 2015 2016 2015 2016 2015 2016 OPEX (MUS$) US$/Cliente OPEX (MUS$) kUS$/MW OPEX (MUS$) 10% unitary cost reduction * Proforma Financial S
Slide 15: Looking forward – Contracted sales (TWh)
2016 proforma results* Looking forward – Contracted sales (TWh) 22 20 4,3 4,3 4,2 3,4 2,0 18 3,0 2,0 1,6 2,0 16 2,0 0,5 0,4 2,0 14 1,6 5,3 5,8 5,8 12 2,0 10 0,2 17,6 18,5 17,9 17,5 8 15,9 14,6 5,8 6 13,1 10,8 10,2 10,0 4 2 4,1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Regulated Custom
Slide 16: Looking forward - Supply market liberalization
2016 proforma results* Looking forward - Supply market liberalization 2016 Total Chilean Free market sales (TWh) Enel Dx number of clients (% of Total) +19.3 99 34 34 83 50% 68 Regulated market Free market 2015 2016 Enel Dx free market sales evolution (TWh) Enel Dx free market energy contracts (TWh)
Slide 17: Looking forward - Other business (PSVA's & Future projects)
2016 proforma results* Looking forward - Other business (PSVA’s & Future projects) Public Lighting Energy efficiencies Distributed Generation Electric Transportation Presence outside our In 2016, approximately Initiatives within and outside First electric bus on public concession area. 49,00
Slide 18: Closing remarks
2016 proforma results* Closing remarks Results in line with 2016 targets Solid EBITDA growth in Generation business Stable EBITDA in Distribution with an important contribution from non regulated activities Strong increase in Net Income also due to the contribution of the sale of GNL Quintero Solid
Slide 19: IR Team
2016 Results IR Team Susana Rey Catalina González Head of IR Enel Chile Head of IR Enel Generación Chile +56 2 2630 9606 +56 2 2630 9603 susana.rey@enel.com catalina.gonzalez@enel.com Guillermo Berguecio Francisco Basauri Analyst of IR Enel Generación Chile Analyst of IR Enel Generación Chile +56 2
Slide 20: Disclaimer
2016 Results 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, b