Resultados Dec-14 Agenda 01 04 03 02 General Financial SKs - - PowerPoint PPT Presentation

▶
resultados dec 14 agenda 01 04 03 02 general financial sk
SMART_READER_LITE
LIVE PREVIEW

Resultados Dec-14 Agenda 01 04 03 02 General Financial SKs - - PowerPoint PPT Presentation

Mar 31, 2024 105 likes •404 views

Asesores Financieros 1Q15 Results Presentation| June 2015 Resultados Dec-14 Agenda 01 04 03 02 General Financial SKs subsidiaries Main Background Highlights Exhibits Consolidated figures Corporate Presentation | Sigdo

slide-1
SLIDE 1

Asesores Financieros

1Q15 Results Presentation| June 2015

slide-2
SLIDE 2

Agenda

  • Resultados Dec-14

02

Main Consolidated figures

03

SK’s subsidiaries Highlights

04

Financial Exhibits

01

General Background

slide-3
SLIDE 3

3

  • 286(1)
  • 121(2)

Company Overview

Source: Company Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of March 2015, (1) Net Profit of 2011 have an extraordinary effect of US$157 millions mainly due to the sale of CTI (2) Net Profit of 2013 have an extraordinary loss of US$29.2 millions mainly due to the sale of Sigdopack

Corporate Presentation |

Sigdo Koppers Sales

(US$ millions)

Consolidated EBITDA

(US$ millions)

Net Profit

(US$ millions)

Sigdo Koppers, Chilean conglomerate founded in

  • 1960. One of the most dynamic and important

industrial groups in Chile. Our commitment is a long term investment industrial approach, aiming to be a comprehensive supplier of products and services for the mining and industrial operations worldwide.

SK Comercial Ingeniería y Construcción Enaex Magotteaux

60.43% 60.72% 95.00% 85.77%

Enaex Magotteaux SK Comercial SKBergé Puerto Ventanas CHBB SK Godelius

50.01% 58.19% 74.59% 40.00%

slide-4
SLIDE 4

4

Corporate Governance

Ownership Structure Board of Directors

Source: Santiago Stock Exchange.

(1) Last 12 month

Corporate Presentation

Sigdo Koppers

  • Daily Average vol. traded (1): US$0,6 millions
  • Market Cap: US$1,650 millions (As of Mar 30th 2015)

5,95% Stock Brokers 6,43% Mutual Funds and

  • ther institutional

investors 9,21% Pension Funds and Insurance companies 1,99% Others

Ownership structure as of Mar-15

1. Juan Eduardo Errázuriz Ossa Chairman

  • 2. Naoshi Matsumoto

Takahashi Vicepresident

  • 3. Juan Andrés Fontaine

Talavera Director

  • 4. Horacio Pavez García

Director

  • 5. Norman Hansen Rosés

Director

  • 6. Canio Corbo Lioi

Director

  • 7. Jaime Vargas Serrano

Director

1 4 7 5 2 6 3

slide-5
SLIDE 5

5

ORE PROCESSING

Supplier of products and services for the mining

 Strategic Focus: Provide products and services for the mining and industry  Involved in the main stages of the mining value chain  aprox. 75% of the SK’s Consolidated EBITDA comes from the exposure to the mining activities

Corporate Presentation |

Investment approach

Anglo American - Minera Los Bronces:

…

MINING OPERATION SALES & LOGISTICS MINING DEVELPOMENT

1 3 4 2 1 2 3 4

+ + +

BHP Billiton - Minera Escondida:

1 2 3 4

+ + +

Codelco – Andina:

1 2 3

+ +

slide-6
SLIDE 6

6

Agenda

  • Results as of Mar-15

02

Main Consolidated figures

03

SK’s subsidiaries Highlights

04

Financial Exhibits

01

General Background

slide-7
SLIDE 7

7

7

  • The consolidated revenues droped in

US$95.72 millon

US$79 millon explained by a lower activity in ICSK

US$15 million explained by exchange rate

US$7 million explained by lower activity in machinery distribution business in SKC

  • Sigdo Koppers’ consolidated EBITDA was

US$89.6 million as at March 2015, a decline of 3.1%. Nonetheless, the EBITDA margin rose from 14.3% to 16.3%, a reflection of the cost control efforts in several of the companies.

  • The net profit totaled US$31.4 million, a

decrease of 11.2% compared to the close

  • f the previous year.

Highlights as of March 2015

  • Results as of Mar-15

(1) EBITDA = Ganancia Bruta + Otros Ingresos por Función – Costos de Distribución - Gastos de Administración – Otros Gastos por

Función + Gastos de Depreciación y Amortización

(3) EBITDA Pro-forma: considera las utilidades de empresas relacionadas que no consolidan.

  • Sigdo Koppers has a good consolidated

cash liquidity of US$286.5 million and a conservative level of consolidated debt. The net financial debt-to-EBITDA ratio is 1.88.

Mar-14 Mar-15

Var.

Sales 646.159 550.438

  • 14,8%

EBITDA (1) 92.476 89.603

  • 3,1%

EBITDA Margin 14,3% 16,3%

EBITDA Pro Forma (2) 105.369 102.425

  • 2,8%

Profit (Loss) 55.425 48.077

  • 13,3%

Sigdo Koppers Net Profit (non recurrent) 35.333 31.381

  • 11,2%

Dic-14 Mar-15

Var.

Total Assets 3.428.052 3.403.048

  • 0,7%

Total Equity

(3)

1.602.489 1.617.665

0,9%

Deuda Financiera Neta 787.549 680.954

  • 13,5%

Deuda Financiera Neta/ EBITDA

2,15 1,88

ROE 11,23% 10,80% ROCE 9,39% 9,47% Consolidated Income Statement Figures in ThUS$

slide-8
SLIDE 8

8

8

  • Results as of Mar-15

Magotteaux

(Tons)

Puerto Ventanas (Mtons)

SKBergé

(units)

Level of Activity - Physical Sale

Services

Industrial Commercial & Automotive

  • Ing. y Construcción

(millions Men Hours)

Enaex

(MTons)

SK Comercial

(units)

SK Rental

Fleet (US$MM)

slide-9
SLIDE 9

9

9

EBITDA Pro-Forma

By business area : Mar-14 v/s Mar-15 (US$ Thu)

  • Results as of Mar-15
  • 2,8%

Lower EBITDA Pro-Forma en CLP (-42,4%) Less IT expenses Lower EBITDA due to lower physical sales Increased Revenue and

  • perational

efficiency in Port Business Better performance in both castings and grinding balls. Lower performance in both Leasing and Distribution & Services Less favorable exchange rate conditions

Services Industrial Commercial y Automotive

EBITDA Pro-Forma by business area

slide-10
SLIDE 10

10

CAPEX

10

  • Results as of Mar-15

(1) Capex Neto: El Capex de SKC incluye la venta de maquinaria usada de SK Rental

Mar-14 Mar-15 MUS$ MUS$ Área Servicios 3.441 4.898 Ingeniería y Construcción SK 1.464 1.812 Puerto Ventanas 1.977 3.086 Área Industrial 21.810 13.735 Enaex 4.744 8.179 Magotteaux 17.066 5.556 SK Inv. Petroquímicas

  • Área Comercial y Automotriz

5.816 1.651 SK Comercial (1) 5.816 1.651 SKIA

  • Capex Empresas SK

31.066 20.284

Capex Áreas de Negocios

Major investments in fixed assets:

  • Puerto

Ventanas: Begins construction

  • f

warehouse for copper concentrate capacity of 46,000 Tons (US $ 21 million investment)

  • Enaex: New Plant for cartridged emulsions in Rio

Loa de 14.400 Tons/year (Investment US$ 11 million)

  • SK Comercial: Lower investment in SK Rental’s

fleet, lower activity.

slide-11
SLIDE 11

11

Financial Net Debt/EBITDA Financial Debt

11

Servicios Industrial Comercial y Automotriz Matriz

US$ 968 millon – Consolidated US$ 681 millon – Financial Net Debt

Current 30% Non Current  70%

Cash (US$ millon) Financial Key Indicators

Conservative Financial Profile

  • Results as of Mar-15

1,88x

  • Consolidated Leverage : 1,10x
  • Financial Net Leverage :

0,42x

  • Financial Net Debt/EBITDA: 1,88x
  • Rating: A+ (Feller-Rate, Fitch-Ratings)
slide-12
SLIDE 12

Agenda

  • Results as of Mar-15

02

Main Consolidated figures

03

SK’s subsidiaries Highlights

04

Financial Exhibits

01

General Background

slide-13
SLIDE 13

Ingeniería y Construcción SK

  • ICSK reached 5.1 million man-hours (-35%), reflecting a drop in

activity, particularly in the mining sector.

  • Its net profit totaled CH$3.121 billion (US$5.0 million), a

decrease of 47% in pesos compared to the first quarter of 2014.

  • Pro-Forma EBITDA (*) de $5.989 millon (-42,4%)
  • The backlog as of March 31, 2015 was US$695 million, a rise of

58.4% in pesos compared to December 2014. The reason was the award of the SIC-SING interconnection project that will entail an investment of close to US$320 million.

  • Backlog distribution: Chile (89%) & Perú (11%).

(*) Incorpora la utilidad empresas relacionadas

  • Results as of Mar-15

13

Mar-14 Mar-15 Var. MM$ MM$ % Revenue 94.240 51.247

  • 45,6%

EBITDA 6.577 2.548

  • 61,3%

EBITDA Margin 7,0% 5,0%

EBITDA Pro-Forma (*) 10.404 5.989

  • 42,4%

Controller's net profit 5.847 3.121

  • 46,6%

Horas (Miles) Horas (Miles) Var. Total man-hours executed 7.837 5.111

  • 34,8%

Ingeniería y Construcción Sigdo Koppers

slide-14
SLIDE 14

Puerto Ventanas

14

  • Results as of Mar-15

Mar-14 Mar-15 Var. MUS$ MUS$ % Revenue 35.330 33.904

  • 4,0%

EBITDA 11.612 12.176

4,9% EBITDA Margin 32,9% 35,9%

Controller's net profit 6.241 7.201

15,4% PVSA - Tons transferred 1.524.332 1.597.306 4,8% Fepasa - Th Ton-Km 307.076 305.289

  • 0,6%

Puerto Ventanas Consolidated

Puerto Ventanas

  • 1,597,306 tons (+4.8%) transfered as of Mar-15

Coal (+22%)

Clinker (+59%)

Cooper Concentrate (-16%)

  • Revenues

from the Port Business grew 4% compared to Mar-14

  • Port business EBITDA increased 18% due to higher
  • perating efficiency and more favorable exchange

rate.

EBITDA Margin: 60%

  • PVSA Holds a market share of 62% in solid bulk as
  • f March 2015

Fepasa

  • Fepasa carried a total of 305,289 Ktons-Km of

cargo 1Q15 (-1%)

Mining cargo (21% of total transported): +4% in Ton/Km

Forestry cargo (pulp): (54%

  • f

total transported): +4% in Ton/Km

  • Fepasa consolidated EBITDA reached US$3

millions (-12% en pesos)

EBITDA Margin: 15%

  • Fepasa signed a contract with Anglo American to carry

copper concentrate via railroad from Las Tortolas Plant (Los Andes) to Puerto Ventanas, beginning operations in 2017.

slide-15
SLIDE 15

15

Enaex

  • Results as of Mar-15

Mar-14 Mar-15 Var. MUS$ MUS$ % Revenue 147.418 155.784 5,7% EBITDA 40.587 38.064

  • 6,2%

EBITDA Margin 27,5% 24,4%

Controller's net profit 27.177 23.690

  • 12,8%

Enaex

  • Enaex recorded revenues of US$156 million (+6%)

Physical sales totaled 199 Ktons(-5%)

Increase of 4% in physical sales in the rock blasting services business compared to 1Q14.

  • The

average price

  • f

ammonia reach US$501/ton (+11%)

  • The consolidated EBITDA of Enaex was US$38 million (-6%)
  • Enaex recorded a net profit of US$24 million (-13%)
  • Enaex agreed to buy Davey Bickford, a global manufacturer

and distributor of electronic detonators for the explosives industry at $ 103.3 million Euros.

  • Enaex bought 50% share of Xion Participacoes, for $ 70
  • million. Enaex now controls 100% of the Brazilian company

IBQ (Britanite). Physical Sales Evolution (Thu tons)

slide-16
SLIDE 16

Mar-14 Mar-15 Var. MUS$ MUS$ % Revenue 194.952 191.445

  • 1,8%

EBITDA 15.646 20.599

31,7% EBITDA Margin 8,0% 10,8% 0,0%

Controller's net profit 6.979 7.702

10,4%

Magotteaux Group (1)

  • Results as of Mar-15

Magotteaux

16

Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373

  • 0,1%

Total 93.131 96.085 3,2%

(1) Consolidated figures of Magotteaux & SK Sabo Chile S.A.

Magotteaux Group (1) Var. %

  • Consolidated income totaled US$191 million as of 1Q15 (-2%)
  • Physical sales totaled 96 Mtons (+3%)

 93,712 tons of mill balls (+4%) (80% in mining)  12,373 tons of castings (53% in cement, 30% in agregates)

  • EBITDA amounted to US$21 millions as of Mar-15 (+32%)

 Better performance and margins in the business lines of casting

and grinding balls

 Lower SG&A – reorganization process

  • The company earned a net profit of US$8 millions as of 1Q15.
  • Start-up phase of the new HiCr ball production plant in

Thailand that will have a capacity to produce 50,000 tons.

slide-17
SLIDE 17

17

SK Comercial

  • Results as of Mar-15

Distribution of SK Rental Fleet by Country (US$)

Mar-14 Mar-15 Var. MUS$ MUS$ % Revenue 98.143 87.899

  • 10,4%

Distribution Business

66.928 61.082

  • 8,7%

Rental Business

39.158 36.653

  • 6,4%

Consolidation adjust

  • 7.942
  • 9.835

23,8%

EBITDA 15.956 15.729

  • 1,4%

EBITDA Margin 16,3% 17,9%

Controller's net profit 1.770 1.440

  • 18,6%

SK Comercial

  • Consolidated revenues totaled US$88 millions (-10%)

 The machinery distribution business sold 501 units (-4%).  SK Rental revenue dropped 6% compared to 1Q14 (FX impact)  SK Rental Consolidated fleet reaches 4,901 units (valued at US $ 250

millions)

  • Consolidated EBITDA reached US$16 millions (-1%)

Consolidated EBITDA Margin of 18%

  • The net profit of SK Comercial totaled US$1.4 millions

 This result is composed of a lower yield in machinery rental business in

Chile (SK Rental) and lower business performance in Distribution Services.

slide-18
SLIDE 18

18

SK Inversiones Automotrices

Perú Argentina Chile Colombia

  • Results as of Mar-15

Mar-14 Mar-15 Var. MM$ MM$ % Utilidad Neta Controladora 3.453 4.423

28,1%

SK Inversiones Automotrices

  • SKIA recorded revenues of MCH$4,423 (US$7

millions) (+28%).

Result affected by favorable exchange rate.

  • SKBergé

sold 16,442 units, showing an decrease of (18%) compared to 1Q14.

Best performance in overseas sales 8,880 units (+1%)

  • ANAC recorded sales of 63,593 units in Chile at

the end of 1Q15 (-28%).

  • High growth potential in countries with low

density of cars like Peru and Colombia

slide-19
SLIDE 19

19

  • Ingeniería y Construcción Sigdo Koppers:

 Recorded 5 millions Man Hours (-35%) (Includes direct sales and consortiums)  The award of the SIC-SING interconnection project that will entail an investment of close to US$320 million.

  • Puerto Ventanas:

 Higher valued sales in the Port Business (+4%) with greater operational efficiency, EBITDA margin reached 60% in the

port business

 Consolidated net profit reached US$7 millions (+15%)

  • Enaex:

 Physical sales of 198,660 Tons of explosives (-5%) and growth in service of rock fragmentation in Chile (+4%).  Net profit of US$24 millions (-13%)

  • Magotteaux:

 Higher physical sales (+3%) (Balls +4% & Casting 0%)  Net profit of US$8 millions (+10%)

  • SK Comercial:

 Net profit reached US$1.4 millions (-19%). Contraction of Distribution and Rental of machinery businesses in Chile.  Crecimiento en ventas de SK Rental en Perú (+10%) & Colombia in growth stage

  • SKBergé:

 Decreased of units sold -18% (abroad +1% & in Chile -32%)  Better conditions of FX

Summary highlights of SK Companies – 1Q15

  • Results as of Mar-15
slide-20
SLIDE 20

Agenda

  • 02

Main Consolidated figures

03

SK’s subsidiaries Highlights

04

Financial Exhibits

01

General Background Results as of Mar-15

slide-21
SLIDE 21

Income Statement of Sigdo Koppers

21

  • Results as of Mar-15

Mar-14 Mar-15 Var.

Sales 646.159 550.438

  • 14,8%

Sales expenses

  • 502.315
  • 418.808

16,6%

Gross income 143.844 131.630

  • 8,5%

Other operating income 4.141 3.756

  • 9,3%

Distribution costs

  • 22.438
  • 20.208

9,9%

Administrative expenses

  • 61.047
  • 52.585

13,9%

Other operating expenses

  • 1.539
  • 1.295

15,9%

Operating income 62.961 61.298

  • 2,6%

EBITDA 92.476 89.603

  • 3,1%

% EBITDA Margin 14,3% 16,3%

Interest income 1.120 935

  • 16,5%

Interest expenses

  • 13.851
  • 12.365

10,7%

Related companies income 12.893 12.822

  • 0,6%

Exchange differentials 2.404

  • 4.329
  • 280,1%

Price - level restatement

  • 2.568

2.447

195,3%

Other income (losses) 1.830

  • 195
  • 110,7%

Gain (losses) between book value and fair value (financial assets)

7 Income before taxes 64.796 60.613

  • 6,5%

Income tax

  • 9.371
  • 12.536
  • 33,8%

Income 55.425 48.077

  • 13,3%

Gain (losses) from uncontinnued operations 0 -

Net income 55.425 48.077

  • 13,3%

Income attributable to Sigdo Koppers

35.333 31.381

  • 11,2%

Income attributable to non-controlling interests

20.092 16.696

  • 16,9%

Net income 55.425 48.077

  • 13,3%

Sigdo Koppers Consolidated Income Statement Figures in ThUS$

slide-22
SLIDE 22

Revenue of Sigdo Koppers

22

  • Results as of Mar-15

(1)Magotteaux’s figures include income of SK Sabo Chile S.A.

The profits attributable to the controller were adjusted in the different companies through which Sigdo Koppers controls Magotteaux.

(2) SK Inversiones Automotrices S.A. (SKIA) does not account for the income of SKBergé because it holds 40% of its shares and, therefore,

does not consolidate its financial statements.

(3) Eliminations and adjustments as of December are mainly the result of consolidated intercompany eliminations.

Mar-14 Mar-15 Var.

Services 206.129 115.976

  • 43,7%

Ingeniería y Construcción SK 170.799 82.072

  • 51,9%

Puerto Ventanas 35.330 33.904

  • 4,0%

Industrial 343.338 348.121 1,4% Enaex 147.418 155.784 5,7% Magotteaux (1) 194.952 191.445

  • 1,8%

Sigdopack

  • SK Inv. Petroquímicas

968 892

  • 7,9%

Commercial & Automotive 98.143 87.899

  • 10,4%

SK Comercial 98.143 87.899

  • 10,4%

SKIA (2)

  • Parent company & adjustment(3)
  • 1.451
  • 1.558

7,4%

Consolidated Sales 646.159 550.438

  • 14,8%

Revenue Business Areas Figures in ThUS$

slide-23
SLIDE 23

EBITDA of Sigdo Koppers

23

  • Results as of Mar-15

(1) Magotteaux’s figures through December include the EBITDA of SK Sabo Chile S.A. (2) SK Inversiones Automotrices S.A. (SKIA) does not account for the EBITDA of SKBergé because it owns 40% of its shares and, therefore, it

does not consolidate its financial statements.

(3) Pro Forma EBITDA = EBITDA + Related Company Profits

Mar-14 Mar-15 Var.

Services 23.572 16.257

  • 31,0%

Ingeniería y Construcción SK 11.920 4.081

  • 65,8%

Puerto Ventanas 11.652 12.176 4,5% Industrial 56.862 59.221 4,1% Enaex 40.587 38.064

  • 6,2%

Magotteaux (1) 15.646 20.599 31,7% Sigdopack

  • SK Inv. Petroquímicas

629 558

  • 11,3%

Commercial & Automotive 15.935 15.707

  • 1,4%

SK Comercial 15.956 15.729

  • 1,4%

SKIA (3)

  • 21
  • 22

7,0% Parent company & adjustment

  • 3.893
  • 1.582
  • 59,4%

Consolidated EBITDA 92.476 89.603

  • 3,1%

EBITDA Margin 14,3% 16,3% Consolidated pro-forma EBITDA 105.369 102.425

  • 2,8%

EBITDA Business Areas Figures in ThUS$

slide-24
SLIDE 24

Net Profit of Sigdo Koppers

24

  • Results as of Mar-15

(1) Magotteaux’s figures include income of SK Sabo Chile S.A. The profits attributable to the controller were adjusted in the different companies through which Sigdo Koppers controls Magotteaux. (2) The profit of CHBB was adjusted in SK Inversiones Petroquímicas S.A. through which Sigdo Koppers controls CHBB. (3) Extraordinary effect associated with the sale of Sigdopack in September 2013.

Mar-14 Mar-15 Var. Mar-15 Mar-14 Mar-15 Var.

Services 16.839 12.199

  • 27,6%

9.526 6.529

  • 31,5%

Ingeniería y Construcción SK 10.598 4.998

  • 52,8%

60,43% 6.405 3.020

  • 52,8%

Puerto Ventanas 6.241 7.201 15,4% 50,01% 3.121 3.509 12,4% Industrial 34.483 31.780

  • 7,8%

23.796 21.768

  • 8,5%

Enaex 27.177 23.690

  • 12,8%

60,72% 16.502 14.384

  • 12,8%

Magotteaux (1) 6.979 7.702 10,4% 95,00% 6.967 7.063 1,4% SK Inv. Petroquímicas (2) 327 388 18,7% 74,59% 327 321

  • 1,8%

Commercial & Automotive 8.028 8.522 6,2% 7.775 8.316 7,0% SK Comercial 1.770 1.440

  • 18,6%

85,77% 1.518 1.234

  • 18,7%

SKIA 6.258 7.082 13,2% 99,99% 6.257 7.082 13,2%

SK companies profit 59.349 52.501

  • 11,5%

41.097 36.613

  • 10,9%

Parent company & adjusments

  • 5.764
  • 5.232

Total consolidated profit 35.333 31.381

  • 11,2%

Total Companies Attributable to parent company Net profit Business Areas % SK Figures in ThUS$ Figures in ThUS$

slide-25
SLIDE 25

Mar-14 Mar-15 Var.

Operating cash flow 91.624 95.248

4,0%

Investment cash flow

  • 38.999
  • 17.879
  • 54,2%

Capex

  • 39.900
  • 20.105
  • 49,6%

Fixed assets sales 750 405

  • 46,0%

Other 151 1.821

1106,0%

Finance cash flow 17.128

  • 25.092
  • 246,5%

Net variation in financial liabilities 8.420

  • 26.031
  • 409%

Interest

  • 11.748
  • 9.998
  • 14,9%

Dividends

  • 246

Capital increased 3.378

  • 100,0%

Other 17.078 11.183

  • 34,5%

Total net cash flow 69.753 52.277

25,1%

Effect of exchange rate changes

  • 1.190
  • 4.292

260,7%

Cash and cash equivalent 283.960 282.768

  • 0,4%

Consolidated Cash Flow

Figures in ThUS$

Cash Flow of Sigdo Koppers

25

  • Results as of Mar-15
slide-26
SLIDE 26

Dec-14 Mar-15 Var.

Current Assets Cash and cash equivalent 237.470 286.501

20,6%

Account and sales receivables 559.715 544.882

  • 2,7%

Inventories 311.007 298.366

  • 4,1%

Other current assets 54.256 52.474

  • 3,3%

Total current assets 1.162.448 1.182.223

1,7%

Long-term assets Property, plants & equipment 1.181.320 1.154.793

  • 2,2%

Other long-term assets 1.084.284 1.066.032

  • 1,7%

Total long-term assets 2.265.604 2.220.825

  • 2,0%

Total assets 3.428.052 3.403.048

  • 0,7%

Current liabilities Short-term financial debt 306.441 288.959

  • 5,7%

Accounts payable 272.273 287.037

5,4%

Other current liabilities 155.592 171.333

10,1%

Total current liabilities 734.306 747.329

1,8%

Long-term liabilities Long-term financial debt 718.578 678.496

  • 5,6%

Other long-term liabilities 373.429 359.558

  • 3,7%

Total long-term liabilities 1.092.007 1.038.054

  • 4,9%

Total liabilities 1.826.313 1.785.383

  • 2,2%

Equity Attributable to the controller 1.198.855 1.209.978

0,9%

Attributable to non-controlling interests 403.634 407.687

1,0%

Total equity 1.602.489 1.617.665

0,9%

Total liabilities and equity 3.428.802 3.403.048

  • 0,8%

Consolidated Balance Sheet

Figures in ThUS$

Balance Sigdo Koppers

26

  • Results as of Mar-15

Indicators Net Financial Debt 787.549 680.954 Working Capital 598.449 556.211 Working Capital Days 87 84 Days of Consolidated Inventory 58 58 Accounts Receivable (Days) 82 83 Accounts Payable Days 51 56

slide-27
SLIDE 27

Revenue by country (incl. SK Bergé)

  • D

27

  • Results as of Mar-15
  • As of december 2014
  • As of March 2015

Chile Perú Colombia Brasil Asia Norte America Europa Otros Países MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ Área Servicios 87,1% 12,9% 0,0% 0,0% 0,0% 0,0% 0,0% 0,0% Ingeniería y Construcción SK 83,7% 16,3%

  • Puerto Ventanas

100%

  • Área Industrial

51,0% 0,0% 0,0% 6,8% 9,8% 13,1% 15,4% 3,9% Enaex 96,3%

  • 3,7%

Magotteaux 13,1%

  • 12,4%

18,0% 24,0% 28,4% 4,1% SK Inv. Petroquímicas 100%

  • Área Comercial y Automotriz

58,5% 30,1% 9,2% 0,5% 0,0% 0,0% 0,0% 1,6% SK Comercial 80,2% 15,9% 1,1% 2,8%

  • SKIA

53,4% 33,4% 11,2%

  • 2,0%

Ventas Empresas SK 60,7% 16,8% 4,5% 2,6% 3,4% 4,5% 5,3% 2,1%

Ventas Áreas de Negocios

Chile Perú Colombia Brasil Asia Norte America Europa Otros Países MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ Área Servicios 86,6% 13,4% 0,0% 0,0% 0,0% 0,0% 0,0% 0,0% Ingeniería y Construcción SK 81,1% 18,9%

  • Puerto Ventanas

100%

  • Área Industrial

49,1% 0,0% 0,0% 6,4% 9,8% 16,1% 13,8% 4,8% Enaex 94,5%

  • 5,5%

Magotteaux 11,8%

  • 11,7%

17,9% 29,4% 25,1% 4,2% SK Inv. Petroquímicas 100%

  • Área Comercial y Automotriz

56,0% 32,2% 8,5% 0,5% 0,0% 0,0% 0,0% 2,8% SK Comercial 80,3% 15,5% 1,7% 2,5%

  • SKIA

49,4% 36,7% 10,3%

  • 3,6%

Ventas Empresas SK 57,3% 16,9% 4,0% 2,8% 3,9% 6,4% 5,5% 3,2%

Ventas Áreas de Negocios

slide-28
SLIDE 28

Asesores Financieros

4Q14 Results Presentation| Larrain Vial Andean Conference March 2015