3Q15 Results Review October, 2015 2 AGENDA 1. HIGHLIGHTS 2. - - PowerPoint PPT Presentation

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3Q15 Results Review October, 2015 2 AGENDA 1. HIGHLIGHTS 2. - - PowerPoint PPT Presentation

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3Q15 Results Review October, 2015 2 AGENDA 1. HIGHLIGHTS 2. FINANCIAL REVIEW 3. GROWTH OPTIONS 4. RECENT EVENTS 3 HIGHLIGHTS FOR 3Q 2015 Hydro Generation EBITDA Revenues 1 2 3 (GWh) (MMUS$) (MMUS$) 1,816 5% 55% 1,724 181 4%

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SLIDE 1

3Q15 Results Review

October, 2015

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SLIDE 2

AGENDA

  • 1. HIGHLIGHTS

2. FINANCIAL REVIEW 3. GROWTH OPTIONS 4. RECENT EVENTS

2

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SLIDE 3

HIGHLIGHTS FOR 3Q 2015

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EBITDA (MMUS$) Revenues (MMUS$) Hydro Generation (GWh) Net Debt (MMUS$) Efficient Capacity over Commitments (%) Net Income (MMUS$)

351 337

3Q14 3Q15

117

3Q14 3Q15

1,816 1,724

3Q14 3Q15

1,167 780

3Q14 3Q15

18 76

3Q14 3Q15

82 87

3Q14 3Q15

1 2 3 4 5 6 4% 55% 5% 6% 33% 316% 181

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SLIDE 4

AGENDA

1. HIGHLIGHTS

  • 2. FINANCIAL REVIEW

3. GROWTH OPTIONS 4. RECENT EVENTS

4

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SLIDE 5

PHYSICAL SALES AND GENERATION BALANCE ANALYSIS

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Key Drivers of 3Q15

  • Sales reduction:
  • Contracts maturity: Conafe and Codelco
  • Lower demand from customers
  • Partly offset by higher sales in the spot

market

  • Lower hydroelectric generation, offset by

higher natural gas generation at a competitive cost.

  • Zero diesel generation

Sales Volumes

3Q14 3Q15 YoY

GWh

Regulated Customers

1,849 1,636 (12%)

Free Customers

1,197 1,106 (8%)

Total Commitments

3,046 2,741

(10%)

Spot Market Sales

147 456 210% Total Energy Sales

3,193 3,197 0%

Spot Market GWh

3Q14 3Q15 YoY

Sales

147 456 210%

Purchases

24

  • Net Spot Market

123 456 270%

Generation

3Q14 3Q15 YoY

GWh

Hydroelectric

1,816 1,724 (5%)

Thermal – Gas

536 868 62%

Thermal – Diesel

216

  • Thermal - Coal

672 651 (3%)

Eolic - Punta Palmeras

  • 27
  • Total Own Generation

3,240 3,270 1%

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SLIDE 6

EBITDA ANALYSIS

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Key Drivers of 3Q15

  • Lower sales given by the contracts

maturity and lower average monomic price

  • Non-recurring income from the Blanco

power plant loss of profit insurance payment (MMUS$21.5 million) .

  • Reduction in thermal generation costs

(US$/MWh) given by renegotiated gas supply agreements and lower international fuel prices

US$ million

3Q14 3Q15 YoY

Revenues 351.2 337.0 (4%) Raw Materials and Consumables Used (213.8) (136.0) (36%) Personnel and other

  • perating expenses

(20.5) (20.1) (2%)

EBITDA 117.0 180.9 55%

EBITDA Margin (%) 33% 54%

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SLIDE 7

NON-OPERATING INCOME ANALYSIS (SUMMARY)

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Key Drivers of 3Q15

  • Higher Exchange Rate Differences

loss given by CLP/US$ volatility

  • Non-recurring income from the

Blanco power plant physical damage insurance payment

US$ million

3Q14 3Q15 YoY

Financial Income

1.7 1.4

(18%) Financial Expenses

(22.2) (22.2)

(0%) Results of Indexation Units

1.0 0.9

(12%) Exchange Rate Differences

(4.4) (11.4)

161% Share of profit (loss) from equity- accounted associates

1.0 2.3

137% Other non-operating income/expense

1.6 10.5

576%

NON-OPERATING INCOME

(21.3) (18.4) (14%)

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SLIDE 8

NET INCOME ANALYSIS

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Key Drivers of 3Q15

  • Higher Net Income driven mainly by

higher EBITDA margin

US$ million

3Q14 3Q15 YoY

NET INCOME 18.2 75.7 316%

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SLIDE 9

AGENDA

1. HIGHLIGHTS 2. FINANCIAL REVIEW

  • 3. GROWTH OPTIONS

4. RECENT EVENTS

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SLIDE 10

SEARCHING FOR INVESTMENT OPPORTUNITIES IN THE REGION

 Diversification:

  • Hydrological conditions
  • Generation technologies
  • Access to fuel sources
  • Regulatory Risks

Special focus in Colombia and Perú  Growing electricity consumption  Well established regulatory framework

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SLIDE 11

LA MINA NCRE, CONSTRUCTION SITE

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 34 MW of Installed Capacity and 190 GWh of expected annual generation

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SLIDE 12

Santa María II – Coal-fired Project

  • 350 MW of Capacity
  • 2,500 GWh of expected annual generation

San Pedro - Hydroelectric Project

  • 160-170 MW of Capacity
  • 950 GWh of expected annual generation

COLBÚN HAS SEVERAL GROWTH OPPORTUNITIES

Projects in Chile

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SLIDE 13

AGENDA

1. HIGHLIGHTS 2. FINANCIAL REVIEW 3. GROWTH OPTIONS

  • 4. RECENT EVENTS

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SLIDE 14
  • In September a medium-term natural gas supply agreement was reached with ENAP for the 2016-

2019 period.

  • Colbún obtained a reserve regasification capacity in the Open Season process of GNL Quintero.

3,350 2,500 2,500 2,000 2,000 2,500

  • 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000

2015 2016 2017 2018 2019 2020-2040

Regasification Capacity (GWh)

RECENT EVENTS

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Contracted Gas Generation: Metrogas and ENAP (GWh)

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SLIDE 15

This document provides information about Colbún S.A. In no case this document constitutes a comprehensive analysis of the financial, production and sales situation of the company. To evaluate whether to purchase or sell securities of the company, the investor must conduct its own independent analysis. This presentation may contain forward-looking statements concerning Colbun's future performance and should be considered as good faith estimates by Colbún S.A. In compliance with the applicable rules, Colbún S.A. publishes on its Web Site (www.Colbún.cl) and sends the financial statements of the Company and its corresponding notes to the Superintendencia de Valores y Seguros, those documents should be read as a complement to this presentation.

INVESTOR RELATIONS TEAM CONTACT

Miguel Alarcón María Elena Palma malarcon@colbun.cl mpalma@colbun.cl +(562) 2 460 4394 +(562) 2 460 4450

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