Clidda s Q1 2015 Results Table of Contents I. Introduction and - - PowerPoint PPT Presentation
Clidda s Q1 2015 Results Table of Contents I. Introduction and Perspectives II. Significant Developments III. Commercial Performance IV. Operational Performance V. Financial Performance and Key Metrics VI. Conclusions Annexes:
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Cálidda has a client base of 278,028
During the first quarter, 279 km of network
Even though Total Revenues from the first
In this quarter the EBITDA and adjusted
2) Total Adjusted Revenues exclude Pass- through and IFRIC 12 revenues. 3) EBITDA Last twelve months.
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Adjusted EBITDA Margin excludes Pass-through and IFRIC 12 revenues.
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Interest Coverage: EBITDA / Financial cost.
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1) Clients who are in front of Cálidda's distribution network.
Operational Results ( YTD ) Q1 2015 Q1 2014 Var % Accumulated Clients: 278,028 185,941 50% Invoiced Volume (MMCFD): 695.2 663.4 5% Network Lenght (km): 4,957 3,779 31% Potencial Clients 1 497,111 369,629 34% Financial Results ( YTD ) Q1 2015 Q1 2014 Var % Total Revenues (USD MM): 129.3 142.3
Total Adj. Revenues (USD MM) 2 : 52.1 42.3 23% EBITDA (USD MM) 3 : 96.8 72.1 34% Adjusted EBITDA Margin 4 : 49.5% 48.8% Interest Coverage (x) 5 6.6x 5.5x 21%
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Cálidda has residential presence in 17 districts and
industrial network in more than 34 districts within Lima & Callao (Metropolitan area).
Cálidda connected residential customers in the
Province of Callao and in March began commercial activities in the district of Ate.
During Q1 2015, Cálidda added 22,706 clients in
the Residential segment and 309 clients in the Commercial segment.
Residential Industrial Natural gas pipeline Main grid expansion
Callao
18,756 34,619 63,602 103,090 163,129 254,280 277,295 50,000 100,000 150,000 200,000 250,000 300,000 2009 2010 2011 2012 2013 2014 Q1 2015
9 Clients Segments Growth Highlights No new power generators where
connected in Q1 2015.
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new industrial plants were connected during Q1 2015.
In January, independent customers
like Alicorp, Refineria La Pampilla and Andina de Cementos Unión, increased their Firm Distribution service in 2.0 MMCFD.
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new NGV stations joined Cálidda’s distribution system and almost 200,000 converted vehicles are attended in the City of Lima. Power Generation Industrial
8 11 13 13 16 16 16 5 10 15 20 2009 2010 2011 2012 2013 2014 Q1 2015 321 360 394 429 466 489 492 150 300 450 600 2009 2010 2011 2012 2013 2014 Q1 2015 103 143 172 192 206 220 225
81,029 103,712 126,586 151,781 171,541 197,154 200,173
50,000 100,000 150,000 200,000 250,000 100 200 300 400 2009 2010 2011 2012 2013 2014 Q1 2015 NGV Stations Converted Vehicles
As of March 2015, Take-or- Pay contracts amounted 541 MMCFD, 79% of total invoiced volume. In Q1 2015 the volume sold increased 5% compared to Q1 2014, due to an increase of volume mostly explained by
the Power Generation segment.
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52.2% 63.9% 71.6% 71.6% 72.5% 74.2% 74.4% 75.0% 34.0% 25.0% 19.2% 18.1% 17.2% 16.0% 15.9% 15.1% 13.4% 10.6% 8.8% 9.7% 9.6% 9.0% 9.0% 9.0%
182 303 457 508 577 679 663 695 2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015 Residential & Commercial NGV Stations Industrial Power Generation
11 95 193 327 364 418 504 494 521
100 200 300 400 500 600
2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015
62 76 88 92 99 109 106 105 20 40 60 80 100 120
2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015
24 32 40 49 56 61 59 63 10 20 30 40 50 60 70
2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015
0.8 1.3 1.9 2.9 3.9 5.8 4.6 6.4 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0
2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015
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In Q1 2015, Cálidda’s has built 279 km, out of
The total network now reaches 4,957 km of
The network penetration rate has increased
13 Clients (‘000)
273 303 359 387 408 428 437 701 1,020 1,465 2,163 2,996 4,249 4,520
974 1,324 1,824 2,550 3,404 4,678 4,957 1,000 2,000 3,000 4,000 5,000 6,000 2009 2010 2011 2012 2013 2014 Q1 2015
km
Steel Network Polyethylene Network Total 19 35 64 104 164 255 278 94 126 174 244 331 466 497 20% 28% 37% 42% 50% 55% 56% 0% 10% 20% 30% 40% 50% 60% 100 200 300 400 500 600 2009 2010 2011 2012 2013 2014 Q1 2015 Total Clients Potential Clients* (*) Clients who are in front of Cálidda's distribution network.
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Gate Lurín to Lima). Independent and regulated customers located down flow Lurín use nearly 295MMCFD, equivalent to 70% of our capacity.
Transportation service (TGP) to attend its regulated customers.
Calidda Capacity 420 MMCFD Gas 178MMCFD Transport 204 MMCFD
Edegel Ventanilla Enersur Edegel Santa Rosa Kallpa Kallpa – Las Flores
Cálidda' s City Gate
Thermal Plants (Clients)
Conventions Cálidda Capacity = 420MMCFD Regulated Clients + Independent Clients (149MMCFD) (146MMCFD)
Termochilca Fénix
Independent Clients (Power Generators) = 400MMCFD Mar-15 * Based on 2014 Figures Mar-15
150 300 450
ene-14 abr-14 jul-14
ene-15
Regulated Clients Independent Clients 80 120 160 200 240
ene-14 abr-14 jul-14
ene-15
Regulated Clients
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1) Total Adjusted Revenues exclude Pass-through and IFRIC 12 revenues. 2) Installation Services Revenues include revenues from connection fees and financing. 3) Others: mainly derived from network relocation and other non recurrent services.
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16 As of March 2015, 62% of Adjusted Revenues are volume related and 38% comes from installation
services revenues and other revenues.
In this quarter, other revenues have increased substantially compared to previous periods because of
extraordinary revenues that came from relocation services.
4% 14% 10% 34% 30% 8%
Residential & Commercial Industrial NGV Stations Power Generation Installation Services Others
Q1 2015 Total Adjusted Revenues1 Q1 2015 Total Volume (MMCFD)
1% 15% 9% 75%
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2) Net Debt = Debt - Cash Balance. 1) FFO = Net Profit + Depreciation + Amortization
43 64 103 125 146 186 42 52 116 125 201 245 315 326 100 77
160 188 304 370 461 512 142 129
2009 2010 2011 2012 2013 2014 Q1 2014 Q1 2015
Total Adjusted Revenues Pass-through & IFRIC 12 19 29 59 64 72 91 97
44.5% 46.1% 57.6% 51.6% 49.3% 49.1% 49.5% 2009 2010 2011 2012 2013 2014 LTM Q1 2015 EBITDA Adjusted EBITDA Margin
12 18 40 43 36 57 57
2009 2010 2011 2012 2013 2014 LTM Q1 2015
3.9x 3.9x 2.8x 3.0x 4.4x 3.5x 3.3x 3.1x 3.1x 2.3x 2.3x 3.0x 2.6x 2.5x
2009 2010 2011 2012 2013 2014 LTM Q1 2015 Debt / EBITDA Net Debt / EBITDA
3) In 2013 ratio does not include 2013’s debt prepayment penalties (USD 7.8 MM)
1) Total Debt: net of debt associated costs.
18 28 67 119 149 318 318 318 47 47 47 47 $75 114 166 196 318 318 318
2009 2010 2011 2012 2013 2014 LTM Q1 2015 Senior Debt Shareholders' Subordinated Debt
41.4% 49.8% 54.1% 49.2% 56.6% 53.2% 52.6%
2009 2010 2011 2012 2013 2014 LTM Q1 2015
3.5x 3.8x 5.8x 5.5x 5.6x 6.3x 6.6x
2009 2010 2011 2012 2013 2014 LTM Q1 2015
20.9% 20.2% 28.9% 28.3% 16.8% 23.9% 23.7%
2009 2010 2011 2012 2013 2014 LTM Q1 2015 2) Capitalization: Equity + Debt
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$106 $115 $141 $202 $244 $280 $287
2009 2010 2011 2012 2013 2014 LTM Q1 2015
$7 $10 $26 $27 $17 $35 $34
2009 2010 2011 2012 2013 2014 LTM Q1 2015 48 50 32
63 92 83 16 3 53 33 5 51 50 85 96 98 83
2009 2010 2011 2012 2013 2014 Q1 2015 Secondary Network Main Network
$218 $289 $383 $492 $648 $696 $704
2009 2010 2011 2012 2013 2014 LTM Q1 2015
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Leading energy holding company with interests across the electricity and
natural gas sectors in Colombia, Peru and Guatemala.
Founded in 1896, controlled by the Distrito de Bogotá since 1956 with a
76.2% ownership stake.
Leader in the Energy Sector: major player in the transmission and
distribution of electricity and natural gas. – Only vertically-integrated and one of the largest natural gas distribution and transportation companies in Colombia. – Founded in 1974 by the government of Colombia. Currently controlled by Grupo Aval. – Major player in the gas distribution sector in Colombia through Gases de Occidente, Surtigas and Gases del Caribe. – Participation in the power distribution in Colombia and telecommunications sector in Panama and Costa Rica. – EEB has 15.6% stake in Promigas.
Controlling Investments Non Controlling Investments Non Controlling Investments
Controlling Investments
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25 Chief Operating Officer Jorge Monterroza
Years in industry: 18 years Years at Cálidda: 4 years
Chief Executive Officer Adolfo Heeren
Years in Industry: 17 years Years at Cálidda: 3 years
Chief Commercial Officer Carlos Cerón
Years in industry: 17 years Years at Cálidda: 3 years
Chief Procurement Officer Patricia Pazos
Years in industry: 18 years Years at Cálidda: 10 years
Chief Financial Officer Isaac Finger
Months in industry: 8 months Months at Cálidda: 8 months
Chief Human Resources Officer Rosario Jiménez
Years in industry: 6 years Years at Cálidda: 6 years
Chief External Affairs Officer Tania Silva
Years in industry: 3 years Years at Cálidda: 2 years
Chief Legal and Regulatory Officer Amadeo Arrarte
Years in industry: 13 years Years at Cálidda: 11 years
Chief Strategy Officer Tatiana Rivas
Years in industry: 7 years Years at Cálidda: 7 years
Chief Internal Auditor Carolina Hernández
Years in industry: 9 years Years at Cálidda: 7 years
President Ricardo Roa Barragán
Participation in the Boards of Codensa, Emgesa, Gas Natural, REP Perú, Cálidda, Contugas, Trecsa and President of Transportadora de Gas Internacional TGI.
Luis Betancur Escobar
Served as Director of Fondo Financiero Desarrollo Urbano. President of Colombia's restructuring of the Energy and Gas Regulatory Commission
Jose Elias Melo Acosta
President of Corporación Financiera Colombiana S.A Minister of Colombia's Treasury and Public Credit and Labor and Social Security departments.
Antonio Celia Martínez-Aparicio
President of Promigas Served on the board of directors of various companies in the natural gas sector.
Mauricio Montoya Bozzi
Over thirteen years of professional experience in Project Management, New Business Structuring and Strategic Planning.
David Alfredo Riaño Alarcón
President of Transportadora de Gas Internacional TGI. 19 years of experience in the energy sector and utilities.
Luis Ernesto Mejía Castro
Director of Promigas. Minister of Mines and Energy and Vice Minister of Hydrocarbons and Mines.
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