Quarterly results 2Q 2017 Rele levant ant updat ates es First - - PowerPoint PPT Presentation

Quarterly results 2Q 2017

Rele levant ant updat ates es

 First solar facility, 9,9 MW (Yumbo/Colombia): commissioning & Start of operations in 2H 2017. [Videos: Video 1, Video 2] Plan 5 Caribe: stability and reliability in the Regional Transmission System (STR) tension levels. Nueva Montería 110 kV substation (Construction stage). District Cooling System: Nuestro Montería shopping center: operational since july 2017

The electr tric ic market

Colombia Panama

0% 20% 40% 60% 80% 100% 120% 140% 2013 2014 2015 2016 2017 1Q 2Q 3Q 4Q

Hydric inflows - SIN Reservoir levels - Fortuna

2Q2 Q2017 2Q2 Q2016 ∆% Hydric inflows (System) 21.086 14.551 45% 45% % of historic mean 108% 77% 39% 39% Reservoir levels (System) 11.947 7.626 57% 57% % Reservoir level 78% 47% Hydric inflows EPSA 1.119 828 35% 35% % of historic mean EPSA 117% 87% 35% 35% % Reservoir level EPSA 94% 42% Spot Prices (System) 79 214

• 63%

Contract Prices (System) 177 166 7% 7% Commercial demand (System) 16.626 16.347 1,7% % Hydric generation (System) 88% 72% % Thermal generation (System) 11% 27% 2Q2 Q2017 2Q2 Q2016 ∆% Energy production (System) 2.675 2.707

• 1%

1% Hydric generation (System) 64% 50% 28% 28% Thermal generation (System) 30% 44%

• 31%

Wind generation (System) 3% 4%

• 30

30% Self-generation (System) 2% 1% 22% 22% Solar generation (System) 1% 0% 179% Marginal cost (System) 65 67

• 4%

4% Diesel price 78 81

• 3%

3% Bunker price 50 34 48% 48% Coal price 106 72 48% 48%

Finan ancial cial results ults

REVENUES

743

COP billion (2Q17)

↓ 14% (Y/Y)

EBITDA

279

COP billion (2Q17)

↑ 6%(Y/Y)

NET INCOME

64

COP billion (2Q17)

↑ 101% (Y/Y)

 ↓ Colombian generation revenues: less energy required from thermal assets as climate conditions are normalized.  ↑ Central America generation revenues: higher price in contracts. Higher distribution revenues with the start of operations of assets (Cuestecitas, Valledupar - Plan 5 Caribe, Alferez I).

Solid performance in Central American generation assets. More efficient operation in Colombian generation assets. Steady cashflows in the distribution and retail sales businesses.

Net income attributable to controlling shareholders: COP 42.791 million vs. -$3.625 million in 2Q 2016

Colom

• mbia

bia – operational ational figure ures Gene neration ation by fu fuel so source ce - Colombia lombia

1.599 1.1051.0921.242 1.6151.5051.4291.6201.7391.693 1.293 1.711 1.722 1.387 1.065 1.9721.792 1.3241.2301.2501.2461.325 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 GWh G Hydric - Colombia G Thermal - Colombia Total

Retail ail sa sale les s - Colom

• lombia

bia

100 200 300 400 500 600 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 GWh Regulated market sales Non regulated market sales

Wholes

• lesaler

aler sa sale les s - Colomb lombia ia

500 1.000 1.500 2.000 2.500 3.000 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 GWh Contract sales - Colombia Spot sales - Colombia

*During the El Niño 2015/2016 there were specific short term contracts that were part ot the commercial strategies during extreme climate conditions. Those contracts should not be understood as part of the structural long term contract strategy of the Company.

Centr tral al America rica – operational ational figure ures Gene neration ation by fu fuel so source ce – Centr entral al Americ erica

100 200 300 400 500 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 GWh G Hydric G Thermal G wind

Sale les s by ty type pe – Centr entral al America erica

200 400 600 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 GWh Contract sales - Central America Spot sales - Central America

Finan ancial cial results ults Revenues venues Ebi bitd tda

214 173 184 160 211 228 212 213 233 339 178 155 213 201 152 117 267 263 246 256 241 279 41% 38% 35% 30% 36% 39% 37% 34% 41% 42% 31% 24% 27% 26% 20% 9% 20% 31% 32% 32% 33% 38%

• 50%
• 30%
• 10%

10% 30% 50%

• 100.000

200.000 300.000 400.000 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Ebitda Ebitda margin 520 451 522 531 589 589 577 627 577 784 567 661 791 765 797 1339 1363 862 777 793 742 743 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 G T + D + C

Thank you, inversionistas@celsia.com

Disclaimer claimer

This presentation has been prepared by Celsia S.A. E.S.P. (the "Company"

• r

"Celsia"). Information herein is proprietary to Celsia or the companies in which it holds majority shares, and is not definitive nor has it been audited. The information contained in this document is thus subject to modifications, additions and amendments without need for prior notification. Likewise, the information presented may differ from figures published by

• fficial

entities. Celsia takes no responsibility for updating or correcting the information contained in this document. The Company does not make any type of guarantee, express or implied, and is not responsible for the completeness

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the information (neither for omissions nor for elements of said information which might be misleading). The Company will not be held responsible for any consequence resulting from the use of this document.