Enel Americas S.A. · BCS:ENELAM
Enel Americas — Investor Presentation (March 2018)
24 slides from Enel Americas's investor presentation, March 2018
Slide 1: Enel Américas Corporate Presentation, March 2018
Enel Américas Corporate Presentation, March 2018
Slide 2: Enel Américas Overview
Enel Américas Overview
Slide 3: Enel Américas overview
Enel Américas overview1 Enel Américas is Latin America´s largest private power company Brazil Colombia Generation Generation 1,354 MW 3,467 MW 1% Market Share in Installed capacity 21% Market Share in Installed capacity Net Production 4,034 GWh Net Production 14,765 GWh Sales 12.587 GWh Sales 18,156
Slide 4: Enel Américas overview: financial highlights FY 2017
Enel Américas overview Financial highlights (US$ mn) FY 2017 Revenues EBITDA + 37.1% + 21.3% 10,540 + 17.7% 7,686 1,536 Celg 2,945 + 94 2,947 83 145 Celg 9,004 2,430 + 73 2,503 - 92 2,052 FY16 2016 One-off1 FY16 EBITDA FY17 EBITDA FX effects 2017 One-offs2 FY17 FY 16 FY 17 ex. One-offs ex. One-offs
Slide 5: Ownership profile
Enel Américas overview Ownership profile1 51.80% 14.70% 22.56% CHILEAN PENSION OTHER INST. FUNDS SHAREHOLDERS 8.41% 2.53% ADR HOLDERS Américas OTHER SHAREHOLDERS Market Cap2: USD 11.11 Bn 1. As of March 31, 2018. 2. As of May 31, 2018. 5
Slide 6: Strategic Plan 2018-20
enel Strategic Plan 2018-20
Slide 7: Macro and energy scenario
Macro and energy scenario South America Region (%)1 Local currencies vs USD CPI2 GDP -3.6 2.6 Argentina 20.0 -2.9 Argentina 17.0 Argentina 2.9 -2.2 14.0 3.0 -6.3 4.9 1.9 Brazil -2.9 Brazil 4.3 Brazil 2.0 -2.9 4.2 2.3 -4.8 3.7 2.7 Colombia -1.8 Colombia 3.7 Colombia 2.9 -2.6 3.5 3.1 -3.0 2.5 3.8 Peru
Slide 8: Industrial growth: Organic growth - Capex plan 2018-20
Industrial growth: Organic growth Organic growth - Capex plan 2018-20 Total capex Growth capex by business Maintenance capex by business 5% 9% 32% 40% Generation Generation Maintenance 5.2 bnUSD 3.2 bnUSD Free m. + e-Solutions 2.1 bnUSD Free m. + e-Solutions Growth 60% I&N I&N 65% 4% 85% 6% Total ca
Slide 9: Industrial growth: Infrastructure & Networks evolution
Industrial growth: Organic growth Infrastructure & Networks evolution Regulatory Next regulatory EBITDA (bnUSD) WACC2 cycle cycle RAB (bnUSD) +3.9 +93% 13.2 +0.3 3.8 +1.4 3.0 9.3 -0.4 12.5% 12.5% 2.4 2.0 Argentina 5 years 2022 1.6 1.4 Rio 11.4% 12.3% 5 years 2018 +0.1 1.0 1.5 Brazil Ceará 12.3% 12.3
Slide 10: Industrial growth: Generation evolution
Industrial growth: Organic growth Generation evolution EBITDA (bnUSD) Contracted Energy (TWh) Brazil Colombia +4% 14.9 13.3 13.3 15.7 14.6 11.9 13.0 > > 94% > > 10.1 100% > 100% 85% 100% 100% +0.2 100% 89% 1.4 1.4 -0.2 2017 2018 2019 2020 2017 2018 2019 2020 Peru 10.9 11.4 11.1 10.0 Average duration
Slide 11: Industrial growth: Free market + e-Solutions evolution
Industrial growth: Organic growth Free market + e-Solutions evolution EBITDA (bnUSD) Enel Américas Free energy sold (TWh) From 2017E Market share To 2020E Market share Argentina 0.2 5% 5.0 15% +164% Brazil 3.2 3% 9.7 7% Colombia 4.3 20% 5.2 23% 4 128 Peru 5.9 24% 7.5 25% + 0.09 0.25 13.6 27.4 -0.01
Slide 12: Efficiencies
Efficiencies Accomplished % accomplished Operational efficiency1 Previous Plan 20193 20173 as of 2017 New Plan 20204 OPEX 234 244 104% 90 S&S2 59 55 93% 12 Cash Optimization 15 15 100% - Tax 50 50 100% - New Perimeter - - 100% 97 Total 358 364 102% 199 Efficiencies vs 2015 1,152 1,059 1. MUSD net of
Slide 13: Financial targets: FFO, Capex and Cash flow 2018-20
Financial targets FFO1, Capex and Cash flow 2018-20 FFO and CAPEX (bnUSD) 2018-20 Cash flow generation (bnUSD)2 +64% 7.7 2.9 2.5 5.6 2.3 - 2.1 1.8 1.7 1.9 1.8 1.6 2.4 - 3.2 - 2.4 0.0 2017 2018 2019 2020 FFO 1 Maintenance FFO after Growth FCF Dividends Net FCF capex maint. capex capex paid FFO Capex
Slide 14: Guidance 2018-20
Financial targets Guidance 2018-20 (bnUSD) Previous Plan New Plan New Plan vs Previous Plan 2018 2019 2018 2019 2020 2018-19 EBITDA 3.3 3.7 3.7 4.2 4.6 +12.9% Capex 1.5 1.4 1.9 1.8 1.6 +27.6% Net Income1 1.1 1.3 1.4 1.4 1.6 +16.7% Substantial Net Income growth ensures remuneration to our shareholder
Slide 15: Targets - EBITDA by country and by business
Financial Targets Targets - EBITDA by country and by business EBITDA by Country EBITDA by Business 2018 2020 2018 2020 3% 5% 15% 13% 23% 25% 32% 38% 3.7 bnUSD 4.6 bnUSD 3.7 bnUSD 4.6 bnUSD 30% 33% 59% 29% 63% 32% +24% +24% Brazil Argentina Networks Free market + Colombia Peru Generation e-Solutions
Slide 16: New Dividend Policy
Financial targets New Dividend Policy Attributable Net Income (US$ bn) and paid dividends +99% 1.4 +25% 0.7 0.6 Dividends paid 2016 2017 2018E Dividend Payout 50% 50% 40% 16
Slide 17: Net debt evolution
Financial targets Net debt evolution (bnUSD) 1.3x 1.0x 0.9x 0.8x 4.6 4.2 3.8 3.9 3.7 3.7 3.5 2.9 3.7 4.2 3.5 2017E 2018 2019 2020 EBITDA Net Debt Net debt to EBITDA ratio Low ratio net debt to EBITDA leaves room to additional growth 17
Slide 18: Sustainability
Sustainability enel
Slide 19: Sustainable long-term value creation
Sustainable long-term value creation A sustainable strategy Enel Américas Delivery1 2017 (k) 2015-17E (k) Main projects in SDGs2 framework Pachacutec Electrotechnical Institute Access to education for low-income students training in the industrial electrotechnical career. The 188 191 project is impl
Slide 20: 1Q2018 results
enel 1902018 results
Slide 21: Group EBITDA evolution by business and country
1Q 2018 results Group EBITDA evolution by business and country (US$ m) Generation Distribution + 17.0% + 36.3% + 85 + 10 +1 413 429 + 18 + 43 - 13 -1 353 + 69 - 13 315 - 25 1 1 1 1 1Q 17 Fx impact Argentina Brazil Colombia Peru 1Q 18 1Q 17 Fx impact Argentina Brazil Colombia Peru 1Q 18 1. Not includ
Slide 22: From EBITDA to Net income
1Q 2018 results From EBITDA to Net income (US$ m) 820 631 - 189 +1 - 127 333 - 170 221 - 112 EBITDA D&A EBIT Financial Non Income tax Net Income Minorities Attr. Net Result Operating Income Results 1Q 17 651 -174 476 -197 1 -137 143 - 70 74 22
Slide 23: Thank you. Contact us
Corporate Presentation Contact us Rafael De La Haza Head of Investor Relations Enel Américas Jorge Velis Investor Relations Manager Enel Américas Itziar Letzkus Investor Relations Enel Américas Email [email protected] Javiera Rubio Investor Relations Enel Américas Phone +562 23534682 Gonzalo
Slide 24: CNC
CNC