Enel Chile SA · BCS:ENELCHILE
Enel Chile SA — 9M 2017 Earnings Presentation
17 slides from Enel Chile SA's earnings presentation, Nov 6, 2017
Slide 1: Enel Chile 9M 2017 results
Enel Chile 9M 2017 results November 6, 2017
Slide 2: Chilean highlights
9M 2017 results Chilean highlights Enel Chile EBITDA decreased 12%, amounting to US$ 770 mn, mainly explained by our performance in the generation business. Net Income attributable to shareholders decreased 21%, amounting to US$ 378 mn. With regard to the reorganization process Elqui, final re
Slide 3: Market context in the period
9M 2017 results Market context in the period Chile Annual GDP Growth SIC Energy Sales SIC Average Spot Price Average Exchange Rate (%)1 (TWh) (USD/MWh) CLP vs US$ 2017 1.5% 9M17 38.8 9M17 80 9M17 654 2016 1.6% 9M16 38.0 9M16 79 9M16 680 Challenging market scenario 1. Expected GDP for 2017. Source: L
Slide 4: Generation business – Operating highlights
9M 2017 results Generation business – Operating highlights Installed capacity: 6.4 GW Net production: 12.7 TWh Energy Sales: 17.4 TWh +0.0% (4.6%) (3.3%) 6.4 6.4 13.3 12.7 18.0 17.4 0,1 0,1 0,1 Spot 0,1 0,8 0,3 0,6 0,6 2,3 Non regulated 3,1 2,6 4,0 2,2 2,2 4,3 4,3 14,1 13,0 3,5 3,5 6,6 5,7 Regulated
Slide 5: Distribution business - Operating highlights
9M 2017 results Distribution business - Operating highlights Electricity Distributed: 12.4 TWh Number of customers: 1.9 mn SAIDI1: 261 minutes +3.0% +3.1% +26.5% 12.0 12.4 1,870 261 0,9 0,8 Other 1,814 1,9 2,2 Tolls 207 1,9 1,8 Industrial 3,9 3,9 Commercial 3,4 3,6 Residential 9M16 9M17 9M16 9M17 9M
Slide 6: Financial highlights (constant US$ mn)
9M 2017 results Financial highlights (constant US$ mn1) 2,827 770 166 (1,794) 550 (263) (182) (24) (179) (172) 378 Revenues Variable SG&A EBITDA D&A 2 Financial Non Operating Income tax Group Net Minorities Attributable Operational Result Results Income Shareholders Net Income Cost 9M16 (US$ mn) 2,9
Slide 7: EBITDA by business (constant US$ mn)
9M 2017 results EBITDA by business (constant US$ mn1) (11.6%) 871 (103) 770 Dx 220 (6) (15.4%) (2.7%) 214 Dx Gx 672 568 Gx Ox (21) (13) Ox 9M16 Generation Distribution 9M17 1 Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 654.28
Slide 8: Distribution margin breakdown (constant US$ mn)
9M 2017 results Distribution margin breakdown (constant US$ mn1) Recurrent Margin VAS2 Gross Margin Free Market Energy Sales (GWh) +2.9% +13.1% +20.1% 315 324 24 1,684 21 24 18 21 1,402 22 76 78 196 205 9M16 9M17 9M16 9M17 9M16 9M17 Dx regulated Subtransmission Free Market VAS Growing volume in free
Slide 9: Free cash flow (constant US$ mn)
9M 2017 results Free cash flow (constant US$ mn1) 770 490 (223) (12) (46) (257) 26 49 186 (397) (163) 1. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 654.28 CLP/USD. 9
Slide 10: Gross Capex (constant US$ mn)
9M 2017 results Gross Capex1 (constant US$ mn2) Maintenance Growth Total 25% 29% 272 257 98 138 71% 75% 44 106 28 28 40 47 9M16 9M17 Dx Gx Dx Gx Generation Distribution 9M16 9M17 Progressive shift of Capex from Generation to Distribution business 1. Gross of contributions and connections fees, accru
Slide 11: Financial situation (US$ mn)
9M 2017 results Financial situation (US$ mn) Gross and Net Debt Gross Debt1 by type Gross Debt by currency2 2% Others +0.0% Local 8% UF + CLP 42% Bonds 1,273 1,273 Dollars International 92% 367 427 56% Bonds 906 846 9M17 9M17 2016 9M17 Liquidity breakdown; Net Debt Cash • Cash: US$ 427 mn • Committe
Slide 12: Restructuring transaction update: valuators and appraisers key outcomes (1/2)
Restructuring transaction update Summary of valuators and appraisers key outcomes (1/2) Price per Share (CLP) Equity Value (US$ mm) Evaluator / Appraiser Chile Gx 80 87 534 586 1,633 1,880 79 86 537 595 1,584 1,796 77 82 541 579 1,586 1,705 80 84 570 590 1,578 1,735 87 95 1,480 1,680 Oscar Molina Fe
Slide 13: Restructuring transaction update: valuators and appraisers key outcomes (2/2)
Restructuring transaction update Summary of valuators and appraisers key outcomes (2/2) Evaluator / EGC / EC EGPL / EC Cash / Stock Appraiser Ratio (x) Ratio (x) (% cash) 6,4 7,0 15,0 17,3 57,0% 62,6% 6,6 7,1 14,6 17,1 60,0% 65,0% 6,6 7,5 14,9 17,2 60,0% 65,0% (2) (2) 7,2 8,5 15,1 19,0 63,0% 65,0% O
Slide 14: Transaction indicative timetable
Restructuring transaction update Transaction indicative timetable Transaction approval (2017) Transaction execution (2018) 10 November 20 December By Mid By Mid By the end of 2017 2017 February 2018 March 2018 1H 2018 PTO starts PTO ends Board of Board of Enel Chile Enel PTO settlement Director of D
Slide 15: Closing remarks
9M 2017 results Closing remarks EBITDA in Generation affected by poor hydrology coming from 2016 In terms of hydrology, 4Q17 began with better expectations Stable EBITDA in Distribution, net from extraordinary costs Growing trend in free market volume sales Reorganization transaction process under s
Slide 16: IR Team
9M 2017 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 [email protected] [email protected] Guillermo Berguecio Francisco Basauri Investor Relations Associate Investor Relations Associate +56 2 2630 9506 +
Slide 17: Disclaimer
9M 2017 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