Enel Generacion Chile S.a. · BCS:ENELGXCH
Enel Generacion Chile — Enel Chile — FY2018 Earnings Presentation
19 slides from Enel Generacion Chile's earnings presentation, Mar 1, 2019
Slide 1: FY 2018 consolidated results
FY 2018 consolidated results March 1, 2019
Slide 2: Key highlights of the period
Key highlights of the period 1.2 GW additional renewable capacity, improving our margin Infrastructure Digitalization, smart meters and improvement of quality of service & networks Electric mobility and strong EBITDA growth Enel X Cash cost down by USD 23 mn in real terms EBITDA growth and FFO gener
Slide 3: Financial targets delivery
Financial targets delivery 2018 2018 target1 2017 ∆ YoY ✔ Reported EBITDA (USD bn) 1.4 1.4 1.2 21% ✔ FFO (USD bn) 1.1 1.1 1.0 11% ✔ Net reported income (USD bn) 2 0.6 0.6 0.5 19% FFO/EBITDA 0.8 0.7 0.9 FFO/Net debt 0.3 0.3 1.7 Net Debt/EBITDA 2.4 2.3 0.5 1. Strategic Plan 2019-2021 announced on Nov
Slide 4: Industrial growth
Industrial growth Total capex (USD mn) Asset development by business line (USD mn) Total capex by business line (USD mn) +19% +39% 19% 354 550 5 1% 37 464 254 53% 550 354 43 254 260 27% 172 151 143 59 54 39 52 FY 2017 FY 2018 FY 2017 FY 2018 Asset management Asset development Networks Renewables Net
Slide 5: Renewables are the driving force of growth
Renewables are the driving force of growth Installed capacity (GW) Production (TWh) Energy sales (TWh) +17% +4% +17% 20.0 23.4 24.4 7.5 17.1 2.4 1.2 0.2 0.7 Spot 6.4 2.7 2.6 1.2 5.6 7.5 0.1 Non regulated 0.6 3.7 0.6 4.6 2.2 2.1 11.3 17.0 15.6 Regulated 9.6 3.5 3.5 FY 2017 FY 2018 FY 2017 FY 2018 FY
Slide 6: Networks
Networks Smart meter (k#) End users (mn) SAIDI LTM (minutes) 189% 2% -10% 300 .0 90.0 0 298 .0 296 .0 294 .0 292 .0 290 .0 288 .0 286 .0 284 .0 282 .0 280 .0 278 .0 276 .0 274 .0 272 .0 270 .0 268 .0 266 .0 80.0 0 264 .0 262 .0 292 260 .0 258 .0 256 .0 254 .0 252 .0 250 .0 248 .0 246 .0 244 .0 242 .
Slide 7: Enel X
Enel X Infrastructures EBITDA (USD mn) 2017 2018 120% 25.0 00 Electric buses (k) 2 103 20.0 00 22 Charging points1 (k) 63 221 15.0 00 10.0 00 Public lighting 234 259 10 (k points) 5.00 0 Sales of product & Home 31,000 57,000 - services2 (Units.) FY 2017 FY 2018 EBITDA +14% +28% margin 1 Stock in 201
Slide 8: Sustainable Development
Sustainable Development Local communities (k beneficiaries) Digitalization, cyber security & sustainable cities 2018 Digitalization & Sustainable Cities 2018 Smart Meters (k#) ~292 High-quality, inclusive and fair education 13.7 Cumulated* 39 Charging points (#) 221 Access to affordable and clean en
Slide 9: Ratings and acknowledgements
Ratings and acknowledgements Enel Chile positioning in ESG ratings on 2018 14° electric utilities at world level Incorporation to FTSE4GOOD Index incorporation Emerging Market • DJSI Emerging Markets • DJSI MILA Pacific Alliance • DJSI Chile Best Emerging Markets 2° place in Sustainability performer
Slide 10: FY 2018 consolidated results: Financial results
FY 2018 consolidated results Financial results
Slide 11: Financial highlights (USD mn)
Financial highlights (USD mn) FY 2018 FY 2017 ∆ yoy Revenues 3,834 3,936 -2.6% Reported EBITDA 1,391 1,153 +20.6% Reported EBIT 1,046 903 +15.9% Reported Group net income 564 545 +3.5% Group net ordinary income1 564 473 +19.4% Capex 550 464 +19.0% Net debt 3,280 590 - FFO 1,112 1,030 +7.9% 1. Exclud
Slide 12: Reported EBITDA (USD mn)
Reported EBITDA (USD mn) 21% 41.4 1,391 206.7 1,153 (10.8) 318 276 1,113 907 (30) (41) FY 2017 Generation Distribution Holding FY 2018 Reported Reported EBITDA EBITDA EBITDA +29% +36% margin Generation Distribution Holding 11
Slide 13: Generation business
Generation business Gross Capex FY 2018 20.0 0 EBITDA FY 2018 (USD mn) Gross Margin (%) 20.0 0 19.0 0 19.0 0 18.0 0 18.0 0 +23% +10pp 25% 17.0 0 17.0 0 16.0 0 16.0 0 395 1,113 55% USD mn 15.0 0 907 15.0 0 45% 75% 14.0 0 14.0 0 13.0 0 13.0 0 12.0 0 12.0 0 Asset development FY 2017 FY 2018 FY 2017 FY
Slide 14: Distribution business
Distribution business Gross Capex FY 2018 20.0 0 EBITDA FY 2018 (USmn) 20.0 0 Gross Margin (%) 19.0 0 19.0 0 18.0 0 +15% 18.0 0 +3pp 30% 17.0 0 17.0 0 16.0 0 16.0 0 36% 150 318 23% USD mn 15.0 0 276 15.0 0 20% 14.0 0 14.0 0 34% 13.0 0 13.0 0 12.0 0 12.0 0 Asset development FY 2017 FY 2018 FY 2017 FY
Slide 15: From Ordinary EBITDA to Net Ordinary Income
From Ordinary EBITDA to Net Ordinary Income (USD mn) 1,391 (344) (163) 1,046 884 (239) (80) 564 Ordinary D&A EBIT Financial EBT Income taxes Minorities Group net EBITDA expenses ordinary & others1 income Delta YoY +21% +37% +16% -219% -15% +7% -71% +4% 1. Includes other non operating results (relate
Slide 16: Debt and financial expenses
Debt and financial expenses (USD mn) Gross and net debt Net debt evolution ND/EBITDA 0.5x 2.4x +186% 1,727 18 3,634 1,154 1,272 353 (208) 3,280 682 590 590 3,280 FY 2017 FY 2018 FY 2017 Net Perimeter Elqui Fx & FY 2018 Net Debt FCF EGP cash out others Net Debt Net debt Cash Chile items Cost of gross
Slide 17: Cash flow
Cash flow (USD mn) 41 (147) (174) 1,391 1,112 (550) 563 (354) 208 Reported Δ Working Income Financial FFO Capex FCF Dividends Net EBITDA Capital Taxes expenses paid FCF & Others Delta YoY +21% -82% -46% +154% +8% +19% +3% -12% +49% 16
Slide 18: Closing remarks
Closing remarks Strategy on track to capture opportunities from energy transition EBITDA growth driven by renewables in the new energy context Infrastructure & networks Digitalization, client centricity and improvement of quality of service Solid Free Cash Flow generation to fuel future growth Enel
Slide 19: Investor Relations Team
Investor Relations Team Susana Rey Head of IR Enel Chile +56 2 2630 9606 [email protected] Catalina González Gonzalo Juarez Head of IR Enel Generación Chile IR New York Office +56 2 2630 9603 +1 (212) 520 1025 [email protected] [email protected] Claudio Ortiz Pablo Contre