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Corporate Presentation June 2019 1 Disclaimer The information - - PowerPoint PPT Presentation
Corporate Presentation June 2019 1 Disclaimer The information - - PowerPoint PPT Presentation
Corporate Presentation June 2019 1 Disclaimer The information provided herein is for informational and illustrative This presentation may contain statements that are forward-looking purposes only and is not, and does not seek to be, a source
2 The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source of legal, investment or financial advice on any subject. This presentation does not purport to address any specific investment objectives, financial situation or particular needs of any recipient. It should not be regarded by recipients as a substitute for the exercise of their own
- judgment. This information does not constitute an offer of any sort
and is subject to change without notice. GEB is no obligation to update or keep current the information contained herein. GEB expressly disclaims any responsibility for actions taken or not taken based on this information. GEB does not accept any responsibility for losses that might result from the execution of the proposals or recommendations presented. GEB is not responsible for any content that may originate with third parties. GEB may have provided, or might provide in the future, information that is inconsistent with the information herein presented. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness
- r
reliability
- f
the information contained herein. This presentation may contain statements that are forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward- looking statements are based on current expectations, projections and assumptions about future events and trends that may affect GEB and are not guarantees of future performance. The shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any U.S. State securities laws. Accordingly, the shares are being offered and sold in the United States only to qualified institutional buyers as defined under Rule 144A under the Securities Act, and outside the United States in accordance with Regulation S of the Securities Act. We converted some amounts from Colombian pesos into U.S. dollars solely for the convenience of the reader at the TRM published by the SFC as of each period. These convenience translations are not in accordance with U.S. GAAP and have not been audited. These translations should not be construed as a representation that the Colombian peso amounts were, have been or could be converted into U.S. dollars at those or any other rates.
Disclaimer
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GEB at a Glance
Section 1
4 Foundation & Transformation Diversification Growth and Consolidation
New Corporate Strategy
Empresa de Energía de Bogotá (“EEB”) is founded to generate, transmit and distribute electricity in Bogotá
1896
The District
- f Bogotá
acquires 100.0% of the company
1959
EEB is transformed from a state-owned entity into a stock corporation organized as a public utilities company
1996
Creation of & through a capitalization and transformation process within EEB
1997
Concession Granted
2002
Acquisition of assets and agreements of Ecogas through TGI
2007 2008 2009 2011 IPO EEB 2012 2015
Acquisition
51.0%
- Codensa absorbs
EEC
- New Corporate
Strategy
- Approved sale of up
to a 20.0% stake of major shareholder
- Other minor stake
divestitures
2013
Int’l Bond Issuance for US$320mm Recurrent issuer in the local and international capital markets
2006
Acquisition
- f
Int’l Bond Issuance for US$750mm Int’l Bond Issuance for US$749mm
2010
Merger between TGI & Transcogas
2016
- 2017
2018
GEB reports change in its shareholding structure after democratization
Timeline
More than 120 years of sustainable organic and inorganic growth, record of success
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65,7%
21,2%
5,2%
Others 7,9% 76,3% 16,5% 3,6%
Others
3,6% Pension Funds
Number of shares outstanding: 9,181,177,017 Total Shareholders: 3.688
Shareholders as of Jan 31, 2018
Shareholding Structure
Pension Funds Number of shares outstanding: 9,181,177,017 Total Shareholders: 6.436
Shareholders as of May 31, 2019
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*Divest up to 20% of GEB’s Common shares owned by the District, authorized by Bogotá Council (November 2016). Note: In accordance with the agreement 656 of 2016 of the District Council of Bogota, the District will execute a Democratization process. The information herein countained is
- nly for information and illustrative purposes. It is not intended to be an exact estimation, nor is it a source of legal, investment or financial advice information on any matter.
1
Due Diligence, Valuation and Structuring Process, February 2017 - 2nd Semester 2017 City Government Council endorses the Disposal Program and sets minimum price December 20th, 2017
2
Issuance of Democratization Decree and Program December 20th, 2017
3 4
First Phase Solidarity Sector
- Dec. 26th – Feb 26th,2018
Second Phase General Public July 5th – July 18th, 2018 Operation Completion and Closure July 31st, 2018
5 6
20/12/2017
Management Agreement SDH-EEB Organize and manage the Democratization* process February 2017 In process Completed
Offer Period Notice of Offer Roadshow Offer Period Notice of Offer Roadshow
Law 226 of 1995
Democratization Results: (First and second phase)
- District of Bogotá received COP$1.963.020
million
- This amount represents 10,6% of GEB’s
common shares
Democratization*
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District of Bogotá has authorization to sell the remaining 9,4%. The
- peration should be
considered by the next local government
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Investment Highlights
Section 2
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Investment Highlights
Leading Participant in Relevant Latin American Energy Markets Experienced Management Team, Supported by World-Class Strategic Partners and Strong Corporate Governance Standards A Sustainable Company with Track Record of Value Creation Stable and Predictable Cashflow Generation Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses
1 2 3 4 5
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Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses
GEB is a leading energy holding in LatAm with a diversified portfolio of Power and Natural Gas utilities, classified in three strategic business groups:
Power Distribution Natural Gas Distribution 3,8 mm clients in Power Distribution 3,1 mm clients in Natural Gas Distribution 13.841 km of Transmission Lines 4.288 km of Gas Pipelines Power Transmission Natural Gas Transportation USD$1.354 mm Revenue 2018 COP$19.464.095 mm / USD$5,8bn Market Cap. May 31, 2019 USD$396,5 mm CAPEX 2018 +11,6% 2017 – 2018 6,1% Dividend Yield May 31, 2019 Dividend Approved 2018 COP$1.193.533 mm COP$130 per share (+13%) Power Generation 3.500 MW in Installed Capacity 16.823 GWh in Power Generation
Distribution Generation Transportation & Transmission
USD$441 mm Operational Income 2018 +17,9% 2017 – 2018 USD$576 mm Net Income 2018 +13,4% 2017 – 2018 USD$894 mm EBITDA 2018 +7,5% 2017 – 2018
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* *
*Not controlled Companies
Vista panorámica Bogotá Colaboradores en Gasoducto Padua Páneles solares GEB
Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses
Distribution Transmission & Transport Generation
* * * 10
*Not controlled Companies *Not controlled Companies
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Leading Participant in Relevant Energy Markets
GEB’s subsidiaries and affiliates have market leading participations across the energy chain in Colombia, Peru and Guatemala
Source: :(1) https://www.amm.org.gt/portal/?page_id=145; (2) http://www.coes.org.pe/Portal/Integrantes/AportesIntegrantes; (3) http://www.minem.gob.pe/_estadisticaSector.php?idSector=5, http://www.perupetro.com.pe/exporta/; (4) http://www.mme.gov.br/web/guest/secretarias/energia-eletrica/publicacoes/boletim-de- monitoramento-do-sistema-eletrico/boletins-2019; (5) http://www1.upme.gov.co/Hidrocarburos/publicaciones/Plan_Transitorio_Abastecimiento_Gas_Natural.pdf; (6) http://reportes.sui.gov.co/fabricaReportes/frameSet.jsp?idreporte=ele_com_094; (7) www.xm.com;(8) http://informacioninteligente10.xm.com.co/oferta/Paginas/HistoricoOferta.aspx; (9) Projection, based on the average growth of Users connected quarterly
Guatemala Colombia Peru Brazil
Guatemala
# 1 Guatemala(1)
(Private Company)
Market Share
% Revenue NTS
Power Transmission 22,8%(1) Market Share
% Distributed Volume
Natural Gas Dist. / Transp. 74,3%(3)
# 1 Peru(3)
Market Share
% Revenue NTS
Power Transmission 67,3%(2)
# 1 Peru(2)
Peru Brazil
Market Share
% Network NTS (km)
Power Transmission 0,8%(4)
Colombia
# 1 Colombia(5)
Market Share
% National Network (km)
Natural Gas Transportation 54,0%(5)
# 1 Colombia(6)
Market Share
% Subscriptions
Power Distribution 23,3%(6)
#1 Colombia(8)
Market Share
% Installed Capacity
Power Generation 20,2%(8)
# 2 Colombia(9)
Natural Gas Distribution Market Share
% Connected Users
32,3%(9)
# 2 Colombia(7)
Market Share
% Revenue NTS
Power Transmission 19,7%(7)
(4)
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39% 56% 55% 52% 56% 65% 67% 70% 69% 61% 44% 45% 48% 44% 35% 33% 30% 31% 1.122.343 1.369.533 1.447.335 1.775.908 1.964.666 2.437.419 2.528.614 2.455.225 2.643.537 2010 2011 2012 2013 2014 2015 2016 2017 2018 Note: Figures for the years 2006–2013 are presented under ColGaap standards. From 2014 are presented under IFRS.
Consolidated Adj. EBITDA Consolidated Adj. EBITDA by Business Lines | 2018 Consolidated Adj. EBITDA by Segment | 2018
COP$ mm
Stable and Predictable Cashflow Generation
Consolidated Adjusted EBITDA has increased over the last 10 years demonstrating increased strength of GEB’s controlled assets
COP$2.643.537 mm +7,7% Vs. 2017
USD$ mm
586 705 819 922 821 887 828 832 894 COP$2.643.537 mm +7,7% Vs. 2017
Transportation & Transmission 57,0% Distribution 30,5% Generation 12,3% Others 0,2% Electricity Generation 8,6% Natur ural l Gas Transpo portation ion 41,8 Natural Gas Distribution 21,7% Power Transmission 15,1% Others 0,4% Power Generation 12,3% Power Distribution 8,8%
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Energy for Peace (Colombia ) De-mining of 25,000 hectares with the Colombian Army and NGO The HALO Trust, to the benefit of 11 municipalities and 82 rural districts that have suffered from the armed conflict
We transform territories through shared value projects that create sustainable progress to local communities
Community gas diners (Peru) Installation
- f
free gas connections to
- ver
900 gas diners benefiting more than 63,000 people Tecnigas: Training for the Future (Peru) Training young people from underprivileged backgrounds as gas installation technicians, to facilitate their entry into the workforce Women’s economic empowerment (Guatemala) Training 450 indigenous women in traditional crafts and supporting the commercialization
- f
their embroideries
Dow Jones Sustainability Index Included for the seventh consecutive year within the emerging markets category 2019 RobecoSAM Sustainability Yearbook Included for the second consecutive year
A Sustainable Company
Social sensibility and genuine relationships that create sustainable progress
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5.000.000.000 10.000.000.000 15.000.000.000 20.000.000.000 25.000.000.000 30.000.000.000 junio 2018 julio 2018 agosto 2018 septiembre 2018
- ctubre 2018
noviembre 2018 diciembre 2018 enero 2019 febrero 2019 marzo 2019 abril 2019 mayo 2019 junio 2019 1.200 1.400 1.600 1.800 2.000 2.200 Volumen (COP) Últ precio COLCAP
Track Record of Value Creation
GEB share price performance
28.06.18 First dividend payment 05.07.18 Disposal and Adjudication
- f the 2nd stage of the
Democratization Program 31 .07.18 2nd stage of democratization concluded with the registration of divested shares 17.10.18 TGI’s liability management program of international bonds for USD$750 mm 01.11.18 COLCAP rebalancing & Statements from SHD 28.01.19 Changeof GEB’s ticker symbol in BVC 30.01.19 SHD announces that the District will not sell in the short- term its share participation in GEB 01.02.2019 COLCAP rebalancing 19.02.19 GEB announces that it will present a PAO for 100% of Dunas Energía’s shares 19.02.19 For 2nd consecutive year, GEB is included in RobecoSAM Sustainability Yearbook 25.10.18 Second dividend payment 25.02.19 Notice of GEB’s AGM, Income Distribution Project and proposal
- f statutory reform
Source: BVC. June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019
Historical High: COP$ 2.230 April 30, 2019
15.03.19 HCOLSEL Rebalancing 28.03.19 GEB’s AGM 28.05.19 MSCI EM Rebalancing
Volume (COP) Last Price
At national and international level, the group meets high information transparency and disclosure standards, according to regulations imposed by the Financial Superintendency of Colombia. The group has gained recognition within the Colombian Stock Exchange’s Investor Relations 2016 program. Security Issuer $2.175 22,9% YTD
June 13, 2019
1.522 14,8% YTD
June 13, 2019
Average trading volume 2019 YTD COP$5.515 mm / USD$1,6 mm 2.502.363 shares
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Experienced Management Team
Andrés Baracaldo
VP Distribution, Transport & Transmission
Álvaro Villasante
VP Power Generation
Felipe Castilla
CFO
Astrid Álvarez
CEO Seasoned executive with
- ver 30 years of experience
in leadership roles at Public Utilities and Energy Companies in Colombia Senior executive with over 30 years of experience in senior financial roles at global energy companies
Leadership
Senior executive with over 20 years of experience in Investment Banking and Business Development in Power and Utilities Senior executive with over 12 years of experience in Investment roles in Private Equity and Infrastructure in LATAM
Nestor Fagua
General Counsel Senior executive with over 30 years of experience in Laws, Compliance, Banking and Capital Market
Liliana Pérez
Legal Affairs Director
Mónica Jimenez
Chief Compliance Officer
Camila Merizalde
Head of Corporate Affairs
Senior executive with over 15 years of experience in corporate affairs Senior executive with 16 years of experience as compliance officer in Insurance, Finance and Utility sectors Senior executive with over 20 years of experience in Law
Rafael Díaz
Auditor
Senior executive with over 25 years of experience in audits from multinationals and local companies
Ernesto Moreno
Senior VP
Senior executive with over 20 years of experience leading the Power Transmission Business at Grupo Energia Bogotá
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World-Class Strategic Partners
Partner in Cálidda
10mm Clients / 2 Countries Market Cap: US$2,074mm
Sources: Promigas Website, Factset
Partner in Brazil’s Power Transmission
Leading generation and transmission company in Brazil Market Cap: US$ 12,758mm
Sources: Eletrobras Website, Factset
Partner in REP and Transmantaro
Presence in 13 countries / 62.038 Km of grid network Market Cap: US$ 6.241mm
Sources: ISA Website, Factset
Partner in Emgesa & Codensa
Presence in 34 countries / 2.2mm km of grid network Market Cap: US$ 59,882mm
Sources: Enel Website, Factset
Partner in Vanti
(formerly Gas Natural)
Presence in over 30 countries / 115 years of operational experience Market Cap: US$ 47,176mm
Sources: Brookfield Website, Factset
Partnerships
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Corporate Governance
General Shareholders’ Meeting GEB’s CEO Appointment Group Agreement
Extension of terms for notice Majority for convoking the General Shareholders’ Meeting: Commitments of Bogotá Capital District (70%) Ad-hoc committee designation for election of 3 candidates Selection process along with a Head Hunter Board of Directors elects the CEO from the 3 candidates The Agreement is the instrument that regulates the interaction and general framework of behavior for the relationship between the Headquarters and its subsidiary companies, looking forward to facilitate accomplishment of corporate strategy and GEB’s goals
Board of Directors
Composition: 9 members (without deputies) Increase of independent members: at least 4 members, but GEB has 6 Independence criteria: based on the “Corporate Governance Guide” of the New York Stock Exchange (NYSE) Adoption of Nomination and Succession Policy of the Board of Directors (experience, candidates’ suitability assessment) Board of Directors’ qualified majority (6 out of 7 present members) Board of Directors’ President: independent member Board of Directors’ committees presided by an independent member
We have accomplished more than 92% of OECD’s recommendations on Corporate Governance
Implementation of the Architectural Control Model, which is based on 3 defense lines
Strong Corporate Governance
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Investments Forecast
Section 3
19
Capex Execution
Revenue growth has been sustained by a strong capex plan Executed Capex by Controlled Companies
2018
USD$396,5 mm
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Capex Forecasted
2019 - 2023 Investments – Controlled Companies
USD$ MM
Note: From 2019 corresponds to forecasts that are adjusted annually.
GEB Capex Profile (Forecast)
Controlled Companies
Base Scenario
$616 $1.690 $120 Total $2.426
Distribution Transportation & Transmission Generation
Base Scenario (USD$ MM) Company 2018 2019F 2020F 2021F 2022F 2023F Total Transmisión 140 170 209 89 125 91 825 Trecsa y EBBIS 52 52 21 126 TGI 73 85 198 143 143 97 739 Cálidda 119 130 60 61 80 75 525 Contugas 13 10 9 22 54 Other Projects 37 36 39 45 157 Total 396,5 447,0 525,7 338,5 410,3 308,0 2.426
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Investment Projects(1) – Power Transmission
Colombia
- GEB has 9 projects in execution with an EAR(2) of USD$98,4m
- Expected start of operations(3):
2019: 6 projects – EAR of USD$45,5m 2020: 2 projects – EAR of USD$31,4m 2022: 1 project – EAR of USD$21,5m
- Main projects by EAR are: Refuerzo Suroccidental, Colectora, Sogamoso
Norte and Tesalia
(1) Controlled companies (2) Expected annual revenue (3) 5 of the projects under execution are currently generating revenue. The expected start of operations refers to commissioning date of the projects.
Guatemala
- Trecsa develops Guatemala’s major power interconnection Project (PET):
76% completion 19 out of 23 substations; 16 energized 532 Km out of 863 Km of transmission lines; 421 Km in operation
- EEBIS :
Project Anillo Pacífico Sur: USD$62,69m (Capex) - Completed Project CEMPRO: USD$21,7m (EPC contract)
- Phase 1: 88%
- Phase 2: 92%
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Investment Projects – Natural Gas
Colombia
- TGI’s main projects in execution (Capex):
Cusiana Phase IV: USD$92,3m (1Q 2020) Branches reposition: USD$11,6m (3Q 2019) Barranca – Ballena Bidirectionality: USD$2,6m (4Q 2019)
Peru
- Cálidda’s main projects in execution (Capex):
Polyethylene pipelines: USD$68,29m (341,67 Km as of Q1 2019) Residential clients connection: USD$24,6m (40.952 users in 1Q 2019) Steel pipelines (high pressure): USD$8,93m (1,81 Km in 1Q 2019
- ut of 12,66 Km)
City gate expansion: USD$6m for expanded capacity of 540 Mcfd (Works start in Sept. 2019)
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Growth Strategy
GEB is on track to become the leading utility company in LATAM growing through inhouse initiatives and being an active player in M&A throughout the region
We are growing through strategic investments that transform and empower the communities we serve
Strong Pipeline of opportunities to build energy transmission lines and midstream gas pipelines within the regulated market GEB will bid for the LNG regasification project of Buenaventura Earlier this year GEB announced its intention to acquire GEB is pending regulatory approval to close the transaction and start serving 250.000 new clients in south of Perú Actively seeking M&A opportunities in energy transmission and distribution Actively seeking M&A opportunities in renewable power generation Actively seeking M&A opportunities in energy transmission and in renewable power generation
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Capital Structure
Section 4
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97% 94% 97% 98% 99% 98% 99% 85% 84% 3% 6% 3% 2% 0.7% 2% 1% 15% 16%
1.543 1.737 1.733 2.218 3.009 2.803 2.567 2.946 2.943
2010 2011 2012 2013 2014 2015 2016 2017 2018
Net Debt / Consolidated EBITDA LTM Consolidated EBITDA LTM / Net Interest LTM
(USD$ mm)
COP$ USD$
Consolidated Debt Composition Debt Maturity Profile Dec. 2018
(USD$2.943 mm)
Debt Profile
471 65 54 24 1.079 107 9 9 9 816 146 55 101
2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2032 2042 2047
2,95x 2,85x 2,83x 2,88x 3,17x
4,50x
dic-17 mar-18 jun-18 sep-18 dic - 2018 7,10x 7,56x 8,72x 8,30x 7,36x
2,25x
dic-17 mar-18 jun-18 sep-18 dic - 2018
(1) Reasonable indebtedness limit.
(1) (1)26
2019 Financing Program
Debt management operation
- USD$749 mm Syndicated loan
- The purpose is to improve the debt profile and cost:
Extend maturity from 2023 to 2024 Spread over Libor from 2,15% to 1,625% ~ USD 8,8 mm annual reduction in interest expenses
Bonds issuances
- Estimated in USD$800 mm
- Approximately, 50% local market - 50% international market
- Purpose of the issuance:
Investment projects Repayment of short-term liabilities Increase the Company's maturity profile Match better liabilities’ composition by currency (COP$ - USD$) to cash flow generation
Syndicated Loan
- Refinancing USD$342 mm
- Spread over Libor from 3,50% to 1,75% ~ USD 5,8 mm annual
reduction in interest expenses
- Total amount of the liability USD$355 mm
Refinancing
- From a current amount of USD$48 mm to USD$53 mm as of
2024
BBB- / Stable
28/09/2018
BBB International - AAA local /Stable
09/10/2018
In the annual review process
2019
GEB’s Corporate Credit Ratings
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Annexes
Section 5
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As of December 31 2018
Assets and Investments
S.A ESP.
Holdco
EEB Perú Holdings Ltd EEB Gas SAS
GrupoEnergíaBogotáTrecsa
GrupoEnergíaBogotáGebbras
GrupoEnergíaBogotáContugas
TGI
GrupoEnergíaBogotá99,99% of GEB 0,01% Other 96,11% of GEB 3,89% of EDEMTEC 99,9% of GEB 0,1% of MARCOSDIEZ 68,58% of GEB 31,42% of TGI 100% of GEB TGI International TGI Regasificadora SAS 100% ofTGI 100% of GEB 40% of GEB 40% of GEB 16,23% of GEB 15,24% of EEB GAS SAS 25% of GEB 51,51% of GEB 51,32% of GEB 60% of EEBPERÚ HOLDINGS LTD 40% of Promigas 100% of GEB 99,999% of GEB
51% of GEBBRAS 49% of Furnas 51% of GEBBRAS 49% of Furnas 51% of GEBBRAS 49% of Furnas 51% of GEBBRAS 49% of FurnasAFFILIATES SUBSIDIARIES UNCONTROLLED COMPANIES
COLOMBIA GUATEMALA COLOMBIA COLOMBIA CAIMAN ISLANDS BRAZIL PERU BRAZIL PERU BERMUDA GUATEMALA MGETransmissão S.A. GoiásTransmissão S.A. Transenergia Renovável S.A. TransenergiaSao Paulo S.A.EnergyRe
GrupoEnergíaBogotá0,001% EEB GAS SAS
AFFILIATES Transmission Branch
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Status of pending divestitures programs: Phase 2 - Promigas
- The corporate management has not
authorized yet the 2nd phase directed to the general public
- Percentage for disposing of 15,24%
(172.916.643 shares) Banco Popular
- Percentage for disposing of 0,1136%
(8.772.703 shares)
2016 2017 2018
2019
Jun.12.17 – Aug.14.17 Phase 1 Solidarity Sector Acceptance period Dec.13.16 Agreement 656 de 2016 Authorization for the divestitures of the shareholding in Promigas, ISA, Banco Popular & Nutresa Sep.12.17 Phase 1 Promigas Allocation of shares Sep.09.17 Start Phase 2 Divestiture processes to general public: ISA, Banco Popular & Nutresa Sep.19.17 Phase 2 Nutresa Allocation of shares Dec.21.17 / Dec.28.17 Phase 2 ISA Allocation of shares
Divestitures
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Infrastructure
Colombia
31
Infrastructure
Colombia
Cartagena Refinería Barrancabermeja Refinería
Bucaramanga Bogotá Neiva Cali Medellin
2.27 tcf
0,49 tcf
Productores Orientales: Ecopetrol Equion Alto Valle del Magdalena Magdalena Medio Bajo Magdalena Productores del Norte: Chevron Ecopetrol
0,71 tcf
Guajira
Cusiana-Cupiagua
Referencias Gasoductos de TGI Reservas Gas Natural Ciudad Campo Refinería Gasoductos Terceros
Reservas en otras regiones 0.4 2tcf
Total reservas 3.89 tcf
Océano Pacífico Mar Caribe
VENEZUELA
(1) Tiene acceso a tres de los principales campos de producción de gas, Guajira y Cusiana-Cupiagua
Fuente: Unidad de Planeación Minero Energética - Agencia Nacional de Hidrocarburos
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Infrastructure
Peru
Lima - Callao
34
Infrastructure
Peru
Ica
35
Infrastructure
Guatemala
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12,7 15,4 15,0 14,6 14,1 16,1 8,8 7,7 6,5 6,4 3,8 1,9 401,2 418,8 430,6 456,4 441,2 494,4 2011 2012 2013 2014 2015 2016 Reservas Probadas de Gas Natural Reservas Probables de Gas Natural Producción de Gas Natural
Strong Footprint in LatAm Natural Gas Market
GEB well positioned to benefit from the expected growth in the natural gas sector via its investments in TGI, Gas Natural, Calidda & Contugas.
Peru Colombia
Natural Gas Footprint
Bucaramanga Bogota Neiva Cali Medellin
952 GPCMountain ranges Oriental and Ocidental Magdalena Valley
885 GPCBallena Cusiana
Natural Gas Demand (mcfd)
Source: UPME, “Balance Gas Natural 2017”, demand forecast – April 2018.
2683GPC 277GPCReferences
Natural Gas Reserves City Field
Llanos Orientales Guajira Offshore
Natural Gas Massification
Altoandina Region In bidding process (Proinversión) Tumbes In award process Piura In award process Quavii Lambayeque, Cajamarca, La Libertad and Ancash In operation (virtual supply) Commitment: 150.000 users Lima y Callao In operation (pipelines) 761.187 users (2018) Contugas - Ica In operation (pipelines) 50.517 users (2018)
Proved Reserves of natural gas Production of natural gas Probable Reserves of natural gas 806 899 975 961 934 863 901 2012 2013 2014 2015 2016 2017 … 2021E
Fenosa Arequipa, Moquegua y Tecna Virtual transportation Commitment: 64.000 users
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LatAm Power Markets As Well
Sound power industry dynamics expected to positively impact GEB’s performance, via its investments in Emgesa, Codensa, REP- CTM, among others.
Colombia
Electricity Demand (GWh)
Peru Guatemala
Source: Ministerio de Minas y Energía Colombia & UPME. Source: Ministerio de Minas y Energía Peru & Dirección Nacional de Electricidad. Source: Ministerio de Minas y Energía Guatemala.
56.145 56.739 59.370 60.890 62.812 65.256 71.401 2010 2011 2012 2013 2014 2015 … 2019E 32.422 35.216 37.306 39.667 41.790 44.537 61.699 2010 2011 2012 2013 2014 2015 … 2019E 8.134 8.672 8.929 9.537 10.490 10.886 12.630 2010 2011 2012 2013 2014 2015 … 2019E
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696.551 1.070.860 1.079.518 1.102.264 1.302.494 2014 2015 2016 2017 2018 1.901.665 2.348.750 2.053.309 2.475.861 2.699.260 2014 2015 2016 2017 2018
Costs and Operating Expenses
(COP$ mm)
Revenues
(COP$ mm)
Operating Income
(COP$ mm)
Net Income
(COP$ mm)
Financial Performance
2.598.216 3.419.610 3.132.827 3.578.125 4.001.754 2014 2015 2016 2017 2018 816.349 1.013.867 1.288.984 1.500.121 1.703.693 2014 2015 2016 2017 2018
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Investor Relations
For more information about Grupo Energía Bogotá (GEB) contact our Investor Relations team:
www.geb.com.co www.grupoenergiabogota.com/en/investors
Felipe Castilla Valeria Marconi
Investor Relations Manager +57 (1) 326 8000 Ext 1536
CFO GEB
vmarconi@geb.com.co ir@geb.com.co
+57 (1) 326 8000
Sandra Jimenez
Investor Relations Advisor +57 (1) 326 8000 Ext 1827
sjimenezv@geb.com.co
Astrid Alvarez
CEO GEB
ir@geb.com.co
+57 (1) 326 8000