GRUPO ENERGÍA DE BOGOTA 1Q 2015 Key Results and Developments
|
|
- Emil Cross
- 6 years ago
- Views:
Transcription
1 GRUPO ENERGÍA DE BOGOTA 1Q 2015 Key Results and Developments May 29th, 2015
2 Agenda I. EEB Overview and Key Updates 1Q 2015 II. Expansion Projects Review III. Financial Review 1Q 2015 IV. Convergence to IFRS V. Questions and Answers 2
3 Agenda I. EEB Overview and Key Updates 1Q 2015 EEB Overview Key Updates 3
4 EEB Overview Transportation and distribution of energy with involvement in other areas in the energy sector. Focus on natural monopolies Growth through controlled subsidiaries Sound regulatory framework Ample access to capital markets 4
5 Key Updates Corporate Highligths Convergence process to International Financial Reporting Standards IFRS In compliance with Law 1314 of 2009, and regulatory decree 2784 of December 2012, the company initiated a convergence process from Colombian Accounting Norms to International Financial Reporting Standards IFRS. Since the company is part of group 1, the period of mandatory transition began on 1 January 2014 and the first comparative balance sheets under IFRS will be as of 31 December Anticipated dividends declared to EEB Emgesa, Codensa and Gas Natural closed financial statements for the period January 1 to August 31, Based on this, these companies declared dividends to EEB for an amount of COP 607,405 million, which will be paid during Otherwise, these dividends would have been declared on the 1Q Dividends declared by EEB EEB conducted an interim financial statements closing, with cut off date as of October 31, EEB s net profit during January-October 2014 period reached COP 1.38 trillion, exceeding by 63.7% results recorded in EEB declared dividends to its shareholders amounting to COP 1.1 trillion, equivalent to COP per share, of which COP correspond to ordinary dividends and COP to extraordinary dividends. These dividends will be paid on June and October, The above represents an increase of 86.4% with respect to the dividend per share decreed in March Shareholders Assembly Decision Approved authorizing the legal representative of the Corporation to enter into liability management operations on the EEB bond, which maturity is in the 2021 for an effective amount of USD 749 million, as well as issuing bonds in the international capital markets for up to USD 1 billion and/or in the local capital markets for an amount equivalent in local currency to USD 500 million to finance its investment plan. ECOPETROL sale process EEB s stake ECOPETROL S.A. made public the announcement to Offer the First phase of the Program to sell and award the shares it owns in EEB. The offer started on 20 th May 2015 and will be in force until 21 th July of this year. This stake sale is ruled by Law 226 of 1995 ECOPETROL S.A. currently owes 6.87% of the shares of Empresa de Energía de Bogotá S.A. ESP
6 Key Updates Electricity Transmission Business (1/2) Recently awarded UPME Projects Southwest Reinforcement. Ecopetrol San Fernando Rio Cordoba La Loma Investment: ~USD [ ] mm Annual revenues: USD mm Description: 500 kv project, which will improve the transmission grid in the departments of Antioquia, Caldas, Quindío, Risaralda and Valle del Cauca Brazil Acquisition Investment: ~USD[30 35] mm Annual revenues: N.A Description: The connection to the STN in La Reforma 230kV substation located in Villavicencio (Meta), to strengthen reliability of its operations in the fields of Castilla and Chichimene. Investment: ~USD[15 20] mm Annual revenues: USD 1.81 mm Description: Design, acquisition of equipment, construction, operation and maintenance of the 220 kv Rio Cordoba. Investment: ~USD[19-25] mm Annual revenues: USD 1.3 mm Description: 500kV substation, will allow solving reliability problems and voltage levels, which the system currently presents in El Cesar and the entire Colombian Atlantic Coast. On March 27th, EEB entered into a purchase agreement to buy 51% of four electricity transmission concessions in Brazil. The contract signed contemplates the acquisition of Transenergía Renovável S.A., Transenergía São Paulo s.a., Goiás Transmissão S.A. y MGE Transmissão S.A. concessions. Strategic Partner: Furnas, who has the 49% equity stake of the four concessions. Furnas is a company of mixt economy, has and maintains 17 hydroelectric plants, 2 thermal energy plants and 65 substations. It has a MW installed capacity. Brazilian states: Mato Grosso Goiás Mato Grosso do Sul São Paulo Mina Gerais Espirito Santo Investment: ~R$ 490 Million (USD 170 Mm) Annual revenues: ~R$ 100 Million Length Lines: ~1.100 km 500 kv Substations: 500/345/230 New: 10 Expansion: 5 Status: Currently on going process in the final documentation. 6
7 Key Updates 7 Electricity Transmission Business (2/2) TRECSA The project shows a execution progress of 83%. At the end of last year, five (5) substations are already in operation: Pacífico, La Vega II, Tatic, San Agustin, Rancho 69kV, as well as 122 km in transmission lines already in service. Further substations are coming on stream, which is subject to change by the administrator of the wholesale market. Total investment as of March 31, 2015 amounted to US$328 million. Natural gas transportation & distribution business Acquisition of 31.92% of TGI Currently, TGI is working on the merger with IELAH; this merger is expected to take place on the 2H 2015, which is the Final Phase of the acquisition plan. TGI IFRS - Transported Volume In compliance with Law 1314 of 2009, and regulatory decree 2784 of December 2012, the company initiated a convergence process from Colombian Accounting Norms to International Financial Reporting Standards IFRS. Since the company is part of group 1, the period of mandatory transition began on 1 January 2014 and the first comparative balance sheets under IFRS will be as of 31 December TGI s average transported volume through its infrastructure reached Mmpcd, and maintained a 47.8% market share closing first quarter Calidda At the end of 1Q 2015, Cálidda has a client base of 278,028 customers, 9.1% more than in 4Q Calidda enjoys a local market share of 83% in number of clients. Contugas Company had over 32,555 enable clients. The gas pipeline will have capacity in excess of 300 MMCFD and will connect 50,000 residential clients during the first six years after start up of Commercial Operation. On May 2015, Contugas formalized the distribution agreement with EGASA / Egesur (2 power generators average consumption is mmcfd), will generate a monthly turnover of ~USD 1.2 MM, which detail the payment process is framed in the mechanism of compensation of Supreme Decree EM, which was approved by the Ministry of Energy on 13 April.
8 Agenda II. Expansion Projects Review Subsidiaries Associates 8
9 Consolidating the Strategy Subsidiaries Projects Update EEB Transmission as of 1Q 2015 (Expected Annual Revenue) EAR UPME Project Status On stream USD MM Armenia 78.5% Q 2015 Tesalia 82.6% Q 2015 Chivor II Norte 43.0% Q 2015 SVC Tunal --% 7.8 4Q 2014 Bolívar-TermoCartagena 10.9% Q 2017 Sogamoso-Norte 13.9% Q 2017 Rio Cordoba Substation Project Awarded Q 2016 Southwest Reinforcement Project Awarded Q 2018 Río Cordoba Transformadores Project Awarded 0.6 4Q 2016 La Loma Project Awarded Q 2016 Ecopetrol San Fernando Project Awarded N.A 2Q 2017 TOTAL TRECSA Guatemala s interconnection System 81% *It includes USD 170 million Brazil acquisition. This is an on-going process and disbursement will be completed during 2H Source: Company information. 9
10 Consolidating the Strategy Associates Projects Update EMGESA Quimbo Project (400 MW) Total investment: USD 1,231 mm Execution 1Q-15: 89 % Full operation: 2H 15 CODENSA On-going projects: Nueva Esperanza, Norte, Bacatá Substations New and existing demand Quality service and continuity Control operational risk Source: Company information. 10
11 Agenda III. Financial Review Operational Results EBITDA Debt metrics Share Performance 11
12 Consistent Financial Performance Consolidated Results IFRS Operating Revenues (-37.8%): (-76.8% - COP 641,552 mm) Portfolio Segment: Due to the anticipated dividends from our main associates CODENSA, EMGESA and GAS NATURAL which were declared for the first 8 months of It is worth highlight these dividends in a normalized period would be received during 1Q (+42.1% - COP 11,543 mm) Electricity Transmission: Coming on stream of the Alferez Substation. (+20.4% - COP 46,070 mm) Natural Gas transportation: Exchange rate conversion. Functional currency for TGI since IFRS implementation is US Dollars. Operating Profit (-53.7%): Operational costs and expenses showed an increase due to: (+25.1% - COP 3,404 mm) Electricity Transmission: operational costs related to new projects that are coming on stream or in developing process. (+26.8% - COP 14,178 mm) Natural Gas transportation: increase on depreciations of Property, Plant and Equipment, as well as to equity tax expenses. 12
13 Consistent Financial Performance Consolidated Results IFRS COP Million Variance 1Q Q 2015 $ % EBIT Operating (1) profit 1,021, ,280 (618,607) -60.5% Financial Revenues 33,083 24,909 (8,174) -24.7% Financial Expenses (61,944) (108,335) (46,391) 74.9% Exchange (Loss) (loss) Gain gain (19,769) (252,750) (232,981) % Equity Participation Method Method Associates Associates 214, ,567 (26,332) -12.3% Minority interest (40,632) (11,024) 29, % Provision for for income tax (47,991) (116,970) (68,979) 143.7% Net Net income 1,099, ,676 (971,856) -88.4% (1) 1,021,887 Operating Profit (COP Million) 403,280 1,010,685 EBIT(-60.5%): Emgesa, Codensa and Gas Natural declared anticipated dividends to EEB for an amount of COP 607,405 million, which will be paid during Otherwise, these dividends would have been declared on the 1Q Net Income (-88.4%): Dividends received in advanced by associates COP 607,405 mm Major loss for exchange rate differences: IELAH COP 178,405 mm TGI COP 36,483 mm EEB COP 17,495 mm Higher income tax COP 68,979 mm Decrease in equity method associates COP 26,332 mm. (1) EBIT includes other expenses, other revenues and administrative expenses. 1Q Q Q 2015 Normalized 1,099,533 Net Income (COP Million) 127, ,081 1Q Q Q 2015 Normalized 13
14 Consistent Financial Performance EBITDA At the end of 1Q 2015, operational profits from controlled subsidiaries participated with 59% of the total adjusted EBITDA, compared to a participation of only 19% in Ordinary dividends from non-controlled companies participate with the remaining 41%. Normalized Dividends: (1) Figures for the years are presented under ColGaap standards. For 1Q 2015 LTM are presented under IFRS. LTM IFRS figures are estimated and preliminary, subject to changes, independent auditor s revision. Final Comparable figures will be available as of December 31th (2) 2010 excludes dividends declared based on an early close of Gas Natural s, Emgesa s and Codensa s financial statements. These figures are included in 2011, when such dividends would normally have been declared.(2.1) Anticipated dividends declared by Codensa on first half 2011, were included in (3) 2014 excludes dividends declared based on an early close of Gas Natural s, Emgesa s and Codensa s financial statements. These figures are included in 2015, when such dividends would normally have been declared. 14
15 Consistent Financial Performance Debt Metrics * Indebtedness in USD increased as a result of TGI s shares acquisition (31.92%) through IELAH s SPV. * Syndicated loan acquired by Contugas (USD 342 MM) and additional indebtedness incurred by SPV in order to reacquire 31.92% of TGI IELAH (USD 569 MM) (1) Covenant associated to this indicator is currently suspended since the bond TGI 2022 has investment grade, granted by three risk rating agencies monitoring the latter. Covenant established in Offering Memorandum of USD.749,000,000 EEB 6.125% Senior Notes due *It includes anticipated dividends. (2) Only for comparative purposes and due to transition to IFRS, 1Q 15 debt metrics have been estimated by adjusting COLGAAP last year figures. These figures are subject to change. (3) Increase in mainly explained by increase of foreign exchange USD/COP movements. 15
16 EEB Share Performance 1Q 2015 Ticker EEB:CB As at Mar 31 th, 2015 EEB market capitalization was USD 6.5 Billion Trading volume tripled after the Equity Offering Nov The stock is part of COLCAP, COLEQTY and COLIR Average Target Price: COP 1,949.8 (USD 0.81) Dividend Payout Ratio 2014: 74% Avg : 65 % Dividend Yield 2014: 4.2% Avg : 3.5% 16
17 Agenda IV. Convergence to IFRS Implementation Timeline Main Implementation Effects 17
18 Convergence process to International Financial Reporting Standards IFRS (1/2) EEB started the convergence process from COLGAAP to IFRS Mandatory transition period began on January 1, 2014 and the issuance date of the first comparative financial statements under IFRS will be December 31, 2015 Since 2013, EEB carried out activities regarding preparation and adjustment of the resources needed to advance in the process of convergence to IFRS in accordance with legal requirements EEB with technical support from external advisors, determined the effects that such changes will have on the financial statements 18
19 Convergence process to International Financial Reporting Standards IFRS (2/2) Account concept Analysis Impact amount Effect on equity Functional currency Inventories Account receivable Property, Plant and Equipment Related Investments Other Assets- deferred Deferred Taxes Leasing Current Employee Benefits and pensioned employees Functional currency TGI - USD According to IFRS, all materials of the company should be classified as properties, plant and equipment as they are contained in the former and because their useful life is more than one year, therefore will be recognized as a cost at their fair value on the date they were assigned. As of December 31, 2013, Contugas S.A.C and Trecsa SA. have a balance in account receivables of COP 6,088 million, the payment has been agreed once the company initiates operation, this projected period is of 36 months. As a result of the above, the accrued cost on the account receivables are recorded producing an adjustment of $901 million. Additionally an accrued cost is recorded to retired employees account receivable. During the adoption process the company recognized as initial value, the fair value of assets. From the analysis made on lease contracts, were trated as financial leasing. Likewise, provisions on Property, Plant and Equipment assigned under Colombian GAAP. These investments were recorded at cost, the cost assumed was at book value according to Colombia GAAP as of December 31, According to IFRS the deferred assets did not meet the asset definition, thus, they must be eliminated and recognized as an equity adjustment for first-time IFRS adoption. Studies, projects and tax on equity. In the same manner, goodwill is reclassified Deferred taxes under IFRS are calculated by the balance method, thus presenting important changes compared to the manner it is currently being calculated applying Colombian GAAP. The analysis of lease contracts was conducted, and processed under IFRS as financial leasing, and therefore the Company will have to recognize in the financial statements an asset (property, plant and equipment) and a liability (financial obligation). Calculation of the long term benefits for current employees and an actuary's valuation for those who are pensioned was conducted, under IFRS requirements, to evaluate the impact on financial statements. Included in these benefits are loans to employees, which have a preferred interest rate applied under this concept, the company must recognize the financial cost it entails , ,671 7,479 6,702 46,359 (12,009) (13,619) Debt Estimated Liabilities Financial obligations recorded transactional costs, directly corresponding to liability and hence will have 5,602 an impact according to IFRS. The General Secretary area conducted an analysis of legal processes of any nature filed against the company. Under IFRS the analysis criteria and /or evaluation of these proceedings present changes in 7,393 relation to how the amounts to be recognized are determined and as to how they are classified. TOTAL COP millions 308,792 *For more detailed information please review IFRS Impact Presentation 19
20 Agenda I. EEB Overview and Key Updates 1Q 2015 II. Expansion Projects Review III. Financial Review 1Q 2015 IV. Convergence to IFRS V. Questions and Answers Webcast Link Participant Toll-Free Dial-In Number: +1 (877) Participant International Dial-In Number: +1 (224) Conference ID:
21 Investor Relations For more information about Grupo Energía de Bogotá, please contact our Investor Relations team: Felipe Castilla Canales Chief Financial Officer GEB +57 (1) Ext 1501 ir@eeb.com.co Nicolás Mancini Suárez Investor Relations Officer GEB +57 (1) Ext 1536 nmancini@eeb.com.co Rafael Andrés Salamanca Investor Relations Advisor GEB +57 (1) Ext 1675 rsalamanca@eeb.com.co Fabián Sánchez Aldana Investor Relations Advisor GEB +57 (1) Ext 1827 fsanchez@eeb.com.co
22 Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source of legal or financial advice on any subject. This information does not constitute an offer of any sort and is subject to change without notice. EEB expressly disclaims any responsibility for actions taken or not taken based on this information. EEB does not accept any responsibility for losses that might result from the execution of the proposals or recommendations presented. EEB is not responsible for any content that may originate with third parties. EEB may have provided, or might provide in the future, information that is inconsistent with the information herein presented. 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. 22
GRUPO ENERGÍA DE BOGOTA 2014 Key Results and Developments
GRUPO ENERGÍA DE BOGOTA 2014 Key Results and Developments March 12th, 2015 Agenda I. EEB Overview and Key Updates 2014 II. Expansion Projects Review III. Financial Review 2014 IV. Questions and Answers
More informationGRUPO ENERGÍA DE BOGOTA 3Q 2015 Key Results and Developments
GRUPO ENERGÍA DE BOGOTA 3Q 2015 Key Results and Developments November 25 th, 2015 Agenda I. EEB Overview and Key Updates 3Q 2015 II. Expansion Projects Review III. Financial Review 3Q 2015 IV. Questions
More informationGrupo Energía de Bogotá
Grupo Energía de Bogotá 2016 Key Results and Developments March 23 rd 2017 1 Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek
More informationGrupo Energía de Bogotá
Grupo Energía de Bogotá 1Q 2017 Key Results and Developments May 23 rd 2017 1 Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek
More informationGRUPO ENERGÍA DE BOGOTA First Quarter 2014 Results
GRUPO ENERGÍA DE BOGOTA First Quarter 2014 Results May 14th, 2014 Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source
More informationGEB Earnings Results 3Q 2017 November 23/2017
GEB Earnings Results 3Q 2017 November 23/2017 1 Disclaimer 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
More informationGEB Earnings Results 2017 April 03/2018
GEB Earnings Results 2017 April 03/2018 1 Disclaimer 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
More informationGEB Earnings Results 2Q 2018 September 13/2018
GEB Earnings Results 2Q 2018 September 13/2018 1 Disclaimer 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
More informationGrupo Energía de Bogotá
Grupo Energía de Bogotá First Half 2016 Key Results and Developments August 18th 2016 DISCLAIMER The information provided herein is for informational and illustrative purposes only and is not, and does
More informationRegional Leader in the Energy Sector
Regional Leader in the Energy Sector 1 Over than 100 year of energy 1994 1996 2002 2007 2008 2011 2015 1896 Foundation 1896 Private and vertically integrated company serving the market of Bogotá. Law142
More information- EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled investments.
4T 12 1 Bogota, Colombia, March 22 2013 Index Executive summary and relevant facts. Performance of controlled investments. - EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled
More informationGRUPO ENERGÍA BOGOTÁ S.A. E.S.P. AND ITS SUBSIDIARIES (Formerly Empresa de Energía de Bogotá S.A. E.S.P. and its Subsidiaries) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED ON DECEMBER
More informationEMPRESA DE ENERGIA DE BOGOTA S.A. E.S.P. AND ITS SUBORDINATED COMPANIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED ON DECEMBER 31, 2016 AND 2015 (In millions of Colombian pesos)
More information- EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled investments.
2Q 12 1 Bogota, Colombia, August 2012 Index Executive summary and relevant facts. Performance of controlled investments. - EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled
More information2015 TGI RESULTS AND KEY DEVELOPMENTS. March 8th 2016
2015 TGI RESULTS AND KEY DEVELOPMENTS March 8th 2016 1 Disclaimer This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended
More information[Type the document subtitle] INVESTOR S REPORT SECOND QUARTER 2016
[Type the document subtitle] INVESTOR S REPORT SECOND QUARTER 2016 Bogotá D.C., August 18 th, 2016 Bogotá D.C., August 18 th, 2016 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY AND HIGHLIGHTS... 2 1.1. Overview
More information- EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled investments.
1Q 12 1 Bogota, Colombia, June 2012 Index Executive summary and relevant facts. Performance of controlled investments. - EEB - Transmission - DECSA - EEC - TGI - CÁLIDDA Performance of Non - Controlled
More information[Type the document subtitle] Investor Report. Bogotá D.C., March 23, 2017
[Type the document subtitle] Investor Report Bogotá D.C., March 23, 2017 Bogotá D.C., March 23, 2017 TABLE OF CONTENTS 1. Executive Summary and Relevant Facts... 2 1.1. Overview of Sectors... 2 1.2. Summary
More informationEEB Earnings Conference Call 1Q 2014 Grupo Energía de Bogotá
EEB CONFERENCE CALL TEXT CORPORATE PARTICIPANTS Antonio Angarita Empresa Energia de Bogota - IR Sandra Fonseca Empresa Energia de Bogota - CEO Felipe Castilla Empresa Energia de Bogota - CFO PRESENTATION
More informationInvestors Report 1Q 2015
Bogotá D.C., 29 th May 2015 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY AND RELEVANT FACTS...2 1.1 Overview of electric and natural gas sectors serviced...2 1.2 Summary of EEB S Financials Results...2 1.3 Highlights
More informationCredit Opinion: Empresa de Energía de Bogotá S.A. ESP. (EEB)
Credit Opinion: Empresa de Energía de Bogotá S.A. ESP. (EEB) Global Credit Research - 07 Sep 2015 Bogota, Colombia Ratings Category Outlook Senior Unsecured Transportadora de Gas Internacional Outlook
More informationQuarterlyResults A quick follow up to ISA Group's overall performance
4 th Quarter & 1 st Quarter 2007 ISA Interconexión Eléctrica S.A. E.S.P. Stockholder call center: 018000 11 5000 Stockholder office: Calle 12 sur N 18-168. Medellín, Colombia, South America. Phone: (574)
More information1H 2017 TGI Results and Key Developments. August 10 th 2017
1H 2017 TGI Results and Key Developments August 10 th 2017 Disclaimer This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as
More information4Q 2017 TGI Results and Key Developments March 08 th 2018
4Q 2017 TGI Results and Key Developments March 08 th 2018 1 Disclaimer This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as
More informationReport for Investors 2Q 2017
Report for Investors Bogotá D.C., August 23, 2017 Bogotá D.C., August 23, 2017 TABLE OF CONTENTS 1. Executive Summary and Relevant Facts... 2 1.1. Overview of Sectors... 2 1.2. Summary of Financial Results
More informationInvestor Report 1H 2014
1H 2014 Bogotá D.C., 12 August 2014 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY AND HIGHLIGHTS... 1 1.1 Overview of Electricity and Natural Gas Sectors Served... 1 1.2 Summary of Financial Results EEB 1H 2014...
More informationCorporate Presentation Grupo Energía Bogotá December 2018
Corporate Presentation Grupo Energía Bogotá December 2018 1 Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source
More informationInvestor Report First Quarter 2014
Investor Report First Quarter 2014 Bogotá D.C., May 14, 2014 TABLE OF CONTENT 1. EXECUTIVE SUMMARY AND RELEVANT FACTS... 1 1.1 Overview of the electric and natural gas sectors... 1 1.2 Summary of EEB financial
More informationFinancing and Investor Relations Office
Executive Brief Operating and financial highlights Table 1 - Relevant Indicators Q1 2018 Q1 2017 % Change Operating Revenues USD$, 109.9 103.4 6.3 Operating Profits USD$, 70.7 65.1 8.7 EBITDA USD$, 91.6
More informationInvestors Report Second Quarter 2010
1 Bogota D.C., September 2010 INDEX Executive summary and relevant facts. Performance of controlled investments. EEB transmission. TGI. DECSA EEC. Performance of Non - Controlled investments. Emgesa. Codensa.
More informationInvestor Report 3Q 2014
Bogotá D.C., November 6, 2014 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY AND HIGHLIGHTS...2 1.1 Overview of electricity and Natural Gas Sectors Served... 2 1.2 Summary of Financial Results EEB... 3 1.3 Highlights
More informationFirst Quarter 2018 Financial Report
Medellin, May 8, 2018 EPM Group announces consolidated financial results as of March 31, 2018 Empresas Públicas de Medellin E.S.P. and subsidiaries (hereinafter, "EPM Group") is the holding company of
More informationInvestors Report Second Quarter 2009
1 Bogotá D.C., September INDEX Clarifications. Relevant facts. Market information. Emgesa performance (electricity generation in Colombia). EEB transmission performance (electricity transmission in Colombia).
More informationBogotá D.C., May 2008
Annual Investor s Report 2007 1 Bogotá D.C., May 2008 INDEX Technical and regulatory terms. Clarifications. Highlights. Macroeconomic Development. Recent Developments in the Natural Gas Sector. TGI Operating
More informationReport to Investors Third Quarter 2009
1 Bogotá D.C., November INDEX Clarifications. Relevant facts. Market information. Emgesa performance (Electricity generation in Colombia). EEB transmission performance (Electricity transmission in Colombia).
More informationTGI 2014 RESULTS AND KEY DEVELOPMENTS MARCH 5 TH 2015
TGI 2014 RESULTS AND KEY DEVELOPMENTS MARCH 5 TH 2015 Table of contents I. TGI Overview and history II. Key Updates III. Financial and operating highlights IV. Expansion Projects Appendix 1. Economic industry
More informationAgenda. Introduction. Relevant facts. Energy market. Main projects. Financial results. UNE operational results. Subsequent events
4Q2015 Report Disclaimer o Below is a general information presentation about Empresas Públicas de Medellín ESP and its Subsidiaries, as on the date of presentation. The materials herein contained have
More information2014 SECOND - QUARTER AND FIRST SIX MONTHS RESULTS
2014 SECOND - QUARTER AND FIRST SIX MONTHS RESULTS Second quarter 2014 2013 Reported Δ% YTD effects Δ% (5) 2014 2013 Reported Δ% effects Δ% (5) Stock Listing Information Total revenues 41,434 36,260 14.3%
More informationFinancial Statements Report Third Quarter 2016
Outline 1. Major events 2. Industry 3. Financial results 4. Construction (part 1) Backlog 5. Investment portfolio (part 2) 6. Pipeline 7. Ownership structure and free float evolution 8. Stock performance
More informationCelsia Energy in action
Celsia Energy in action 2014 The story of a transformation 2 The transformation process at a glance 1919 2001 Coltabaco 2001 2002 2006 Coltabaco 2007 2012 Tobacco Business Tobacco Business Electric Utility
More informationBelow we present the main impacts on the financial statements as of December 31, 2014 resulting from the change of standards.
Empresas Públicas de Medellín E.S.P. (hereinafter, "EPM" or the "company") is the parent company of an economic group consisting of 48 companies with presence in Colombia, Chile, El Salvador, Guatemala,
More informationTransportadora de Gas del Interior S.A. E.S.P. - TGI S.A. E.S.P. and its Subsidiary
Transportadora de Gas del Interior S.A. E.S.P. - TGI S.A. E.S.P. and its Subsidiary Financial Statements as of December 31, 2007 and for the Period from February 16, 2007 (date of incorporation) to December
More informationENEL AMÉRICAS FINANCIAL STATEMENTS ANALYSIS As of March 31, 2018
CONSOLIDATED OF ENEL AMÉRICAS AS OF MARCH 31, 2018 Revenues increased by 20.0% compared to the same period of last year reaching US$ 2,800 million explained mainly by higher revenues in Brazil and Argentina.
More informationInvestor Presentation. BVC - Deceval - Citi Colombia Inside Out. London - New York May 10-13, 2016
Investor Presentation BVC - Deceval - Citi Colombia Inside Out. London - New York May 10-13, 2016 AGENDA 2 Limited growth in Colombia led to international expansion and diversification 1967-1999 2000-2006
More informationCelsia S.A. E. S. P. Balance Sheet
Celsia S.A. E. S. P. Balance Sheet As at Wednesday, December 31, and 2013 Notes 2013 Assets Current assets Cash 5 10,073 68,985 Temporary investments 6 17,240 311,236 Accounts receivable, net 7 113,162
More informationFourth Quarter and full year 2017 Financial Report
Medellin, April 3, 2018 EPM Group announces consolidated financial results as of December 31, 2017 Empresas Públicas de Medellin E.S.P. and subsidiaries (hereinafter, "EPM Group") is the holding company
More informationInvestor Presentation
Investor Presentation J.P.Morgan Southern Cone & Andean Opportunities Conference Bogotá. April 22-23, 2015 Disclaimer Certain statements contained in this report constitute "forward-looking statements"
More informationIncluded in The Sustainabilty Yearbook Q2018 Report
Included in The Sustainabilty Yearbook 2018 1Q2018 Report Agenda Relevant events Energy market Work progress in main project: Ituango Financial results as of March 2018 Note: please, see disclaimer at
More informationFINANCIAL STATEMENTS EPM GROUP Quarter
FINANCIAL STATEMENTS EPM GROUP Quarter 3-2011 1 Disclaimer 2 EPM prepared this document to provide stakeholders with information on the company s financial status. This document may include discussions
More informationFourth Quarter 2016 Financial Report
Medellin, April 5,2016 Empresas Públicas de Medellin E.S.P. (hereinafter, "EPM Group") is the holding company of a multi-latin enterprise group formed by 45 companies and one structured entity, that have
More informationISA FOURTH QUARTER 2014 FINANCIAL RESULTS
ISA FOURTH QUARTER 2014 FINANCIAL RESULTS Medellin, Colombia, March 2, 2015 ISA S.A. E.S.P. (BVC: ISA; OTC: IESFY) ( ISA or the Company ), a Colombian organization engaged in the businesses of Energy Transmission,
More informationReport to Investors First Quarter 2009
1 Bogotá D.C., June INDEX Clarifications. Relevant Facts. Market Information. Emgesa Performance (Electricity generation in Colombia). EEB Transmission Performance. REP and Transmantaro Performance (Electricity
More informationENERSIS PRESS RELEASE CONSOLIDATED FINANCIAL STATEMENTS
ENERSIS ANNOUNCES CONSOLIDATED RESULTS FOR THE PERIOD ENDED ON SEPTEMBER 30, 2015 Enersis EBITDA as of September 2015 amounted to Ch$ 1,636,989 million, 7.6% higher than last year during the same period,
More informationQUARTERLY MANAGEMENT RESULTS. M a r c h
QUARTERLY MANAGEMENT RESULTS M a r c h 2 0 1 7 CORPORATE ASPECTS General Results Relevant data by GEN (Figures as of March 2017) GEN Transmission GEN Distribution 3 * Gas pipeline: 3,089 kilometers 4%
More informationNow, please join me in slide 3 to begin. Let s start with the highlights for the period:
Conference Call Codensa and Emgesa 1H2017 July 25, 2017 Good morning and thank you for joining us today in our investor conference call. My name is Daniele Caprini, I am the CFO of Emgesa and Codensa,
More informationTHIRD QUARTER 2013 RESULTS. Medellín, Colombia November 6, 2013
THIRD QUARTER 2013 RESULTS Medellín, Colombia November 6, 2013 Luis Fernando Alarcón, CEO Judith Cure, CFO(E) All rights reserved Interconexión Eléctrica S.A. E.S.P. AGENDA Operating Highlights Strategic
More informationFIRST QUARTER 2011 RESULTS
FIRST QUARTER 2011 RESULTS ISA ANNOUNCES FIRST QUARTER RESULTS 2011 Medellín, Colombia, May 2, 2011 Interconexión Eléctrica S.A. E.S.P ISA (BVC: ISA; OTC: IESFY) ( ISA or the Company ), a Colombian organization
More informationInvestor Presentation Colombia Inside Out New York. September, 2014
Investor Presentation Colombia Inside Out New York. September, 2014 1 Disclaimer Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities
More informationCalidda s Q Results Call. August 23th, 2018
Calidda s Q2 2018 Results Call August 23th, 2018 Disclaimer 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
More informationGENERAL NOTES. 1. General Information
ISAGEN S.A. E.S.P. NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 and 2016 (Amounts expressed in million COP $ and in thousands of United States Dollars USD, unless otherwise indicated) GENERAL
More informationEXECUTIVE SUMMARY EITI REPORT
EXECUTIVE SUMMARY EITI REPORT COLOMBIA 2013 ENT TERRIT DIRE rillion COP) to Central resources o el 92, corresponde Gobierno Naciona 2010 47,9% 16,9% 32, $14.648 2011 5 a a umayo 5% FDI OTHER SECTORS OIL
More informationSECOND QUARTER 2015 RESULTS Medellin, Colombia August 5, 2015
SECOND QUARTER 2015 RESULTS Medellin, Colombia August 5, 2015 The IR Recognition granted by the Colombian Securities Exchange (Bolsa de Valores de Colombia S.A) is not a certification of the registered
More informationAgenda. Relevant facts. El Niño phenomenon. Energy market. Main projects. Financial results. Subsequent events
1Q2016 Report Disclaimer o Below is a general information presentation about Empresas Públicas de Medellín ESP and its, as on the date of presentation. The materials herein contained have been summarized
More informationAgenda. Relevant events. Energy market. Work progress in main project: Ituango. Financial results as of Sept. 2017
3Q2017 Report Agenda Relevant events Energy market Work progress in main project: Ituango Financial results as of Sept. 2017 Note: please, see disclaimer at the end of the presentation. 2 Relevant events
More informationConference Call Codensa and Emgesa FY 2015 February 29, 2016
Conference Call Codensa and Emgesa FY 2015 February 29, 2016 Good Morning Everyone. Thank you very much for joining us today, and welcome to our quarterly Investor conference call. My name is Leonardo
More informationTGI and Calidda Results and Key Developments 3Q Investor Conference Call November 7th 2013
TGI and Calidda Results and Key Developments 3Q 2013 Investor Conference Call November 7th 2013 TGI 3Q 2013 Results and Key Developments November 2013 Strictly Private and Confidential Table of contents
More informationTGP ACQUISITION UPDATE. January 2014
TGP ACQUISITION UPDATE January 2014 Disclaimer This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities
More information2014 THIRD - QUARTER AND FIRST NINE MONTHS RESULTS
2014 THIRD - QUARTER AND FIRST NINE MONTHS RESULTS Third Quarter 2014 2013 Reported Δ% YTD Effects Δ% (5) 2014 2013 Reported Δ% Effects Δ% (5) Stock Listing Information Total Revenues 41,781 37,494 11.4%
More informationFull Year 2011 Investor Report
1 Bogota, Colombia, March 2012 Index Executive summary and highlights. The natural gas market in Colombia Operational performance. Commercial performance. Financial performance. Annex 1: Legal notice and
More informationMedellín, Colombia May 3, 2012 FIRST QUARTER 2012 RESULTS. Luis Fernando Alarcón, CEO Camilo Barco, CFO
Medellín, Colombia May 3, 2012 FIRST QUARTER 2012 RESULTS Luis Fernando Alarcón, CEO Camilo Barco, CFO All rights reserved Interconexión Eléctrica S.A. E.S.P. AGENDA Operating Highlights First Quarter
More information2013 FOURTH - QUARTER AND FULL YEAR RESULTS
2013 FOURTH - QUARTER AND FULL YEAR RESULTS Fourth Quarter 2013 2012 Reported Δ% Full Year Effects Δ% (5) 2013 2012 Reported Δ% Effects Δ% (5) Stock Listing Information Mexican Stock Exchange Ticker: KOFL
More informationResults for fiscal year ended on December 31 st, 2018
Results for fiscal year ended on December 31 st, 2018 Buenos Aires, March 6 th, 2019 Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A. ( Transener or the Company ) announces the
More informationISA ECONOMIC GROUP GENERAL OVERVIEW
All rights reserved - Interconexión Eléctrica S.A. E.S.P. ISA ECONOMIC GROUP GENERAL OVERVIEW Bear Stearns 2006 Colombia Conference Hotel Charleston Santa Teresa Cartagena, Colombia October 22-24 24 ISA
More information1. CONSOLIDATION SCOPE
Medellin, November 9, 2015. Empresas Públicas de Medellín E.S.P. (hereinafter, "EPM" or the "company") is the parent company of an economic group consisting of 52 companies with presence in Colombia, Chile,
More informationInstitutional Presentation. February 2018
Institutional Presentation February 2018 Disclaimer Disclaimer The statements contained in this document are public and available on the Company's website (www.taesa.com.br/ri). Additional information
More informationInvestors Report First half of 2010
1 Bogota D.C., August 2010 Index Executive summary and relevant facts. The natural gas market in Colombia. Operational performance. Commercial performance. Financial performance. Annex 1: Legal notice
More information2012 SECOND-QUARTER AND FIRST SIX-MONTH RESULTS
Stock Listing Information Mexican Stock Exchange Ticker: KOFL 2012 SECOND-QUARTER AND FIRST SIX-MONTH RESULTS NYSE (ADR) Ticker: KOF Second Quarter 2012 2011 Reported Δ% YTD Excluding M&A Effects Δ% (5)
More informationTHIRD QUARTER 2015 RESULTS Medellin, Colombia November 4, 2015
THIRD QUARTER 2015 RESULTS Medellin, Colombia November 4, 2015 DISCLAIMER ISA THIRD QUARTER 2015 FINANCIAL RESULTS Certain statements contained in this report constitute "forward-looking statements" within
More informationCORPORATE PRESENTATION
CORPORATE PRESENTATION 0 Main Figures Figures in Colombian Pesos Consolidated 2017 Separate 2017 Investment Grade Rating Assets: $21.156.016 MM Total Equity: $5.279.463 MM Net Income: $210.807 MM ROE:
More informationEnel Américas 1H 2018 results
Enel Américas 1H 2018 results Highlights of the period EBITDA of 1,652 musd, an increase of 19% vs 1H 2017 despite a negative fx scenario in Argentina and Brazil Generation EBITDA increased by 14% due
More informationTHIRD QUARTER 2015 FINANCIAL RESULTS
THIRD QUARTER 2015 FINANCIAL RESULTS Medellín, Colombia, November 3, 2015 ISA S.A. E.S.P. (BVC: ISA; OTC: IESFY) ( ISA or the Company ), a Colombian organization engaged in the businesses of Energy Transmission,
More informationEmgesa S.A. E.S.P. Outlook Revised To Stable From Negative On Expected Parent Support; 'BBB' Rating Affirmed
Research Update: Emgesa S.A. E.S.P. Outlook Revised To Stable From Negative On Expected Parent Support; Primary Credit Analyst: Stephanie Alles, Mexico City (52) 55-5081-4416; stephanie.alles@spglobal.com
More information2015 THIRD - QUARTER AND FIRST NINE MONTHS RESULTS
2015 THIRD - QUARTER AND FIRST NINE MONTHS RESULTS Mexico City, October 28, 2015, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) ( Coca-Cola FEMSA or the Company ), the largest franchise bottler
More informationDisclaimer. o Only for information matters and reader's convenience, figures in COP were translated in this presentation into their USD
3Q2015 Report Disclaimer o Below is a general information presentation about Empresas Públicas de Medellín ESP and its Subsidiaries, as on the date of presentation. The materials herein contained have
More informationConsolidated Financial Statements Celsia S.A. E.S.P. As at December 31, 2015 and 2014, and January 1, 2014.
E Consolidated Financial Statements Celsia S.A. E.S.P. As at December 31, 2015 and, and January 1,. CELSIA CONSOLIDATED FINANCIAL STATEMENTS 2015 2 www.celsia.com CELSIA CONSOLIDATED FINANCIAL STATEMENTS
More informationENERSIS ANNOUNCES CONSOLIDATED RESULTS FOR THE PERIOD ENDED ON SEPTEMBER 30, Highlights for the Period
ENERSIS ANNOUNCES CONSOLIDATED RESULTS FOR THE PERIOD ENDED ON SEPTEMBER 30, 2014 Highlights for the Period The company s total EBITDA in the first nine months of the year amounted to Ch$ 1,521,114 million,
More information2014 FOURTH - QUARTER AND FULL YEAR RESULTS
2014 FOURTH - QUARTER AND FULL YEAR RESULTS Mexico City February 25, 2015, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) ( Coca-Cola FEMSA or the Company ), the largest franchise bottler in the
More informationAnnual Emerging Markets Corporate Conference 2015 Bank of America Merrill Lynch Miami, FL. May 27 29
Annual Emerging Markets Corporate Conference 2015 Bank of America Merrill Lynch Miami, FL. May 27 29 Disclaimer The material that follows is a presentation of general background information about Empresas
More informationCONSOLIDATED FINANCIAL STATEMENTS Guacolda Energía S.A. and Subsidiary For the years ended December 31, 2015 and 2014
CONSOLIDATED FINANCIAL STATEMENTS Guacolda Energía S.A. and Subsidiary For the years ended and This document includes the following sections: - Independent Auditor s Report - Consolidated Statements of
More informationFEMSA Grows Operating Income High Single Digit in 2Q13
FEMSA Grows Operating Income High Single Digit in 2Q13 Monterrey, Mexico, July 25, 2013 Fomento Económico Mexicano, S.A.B. de C.V. ( FEMSA ) announced today its operational and financial results for the
More informationQuarterly Results January March 2016
Quarterly Results January March 2016 WELCOME CORPORATE ASPECTS Corporate Events Achievements and Recognitions The Promigas Foundation won in 2015 the prestigious Portafolio award in the category Contribution
More informationNovembro de EDP Energias do Brasil
Novembro de 2009 EDP Energias do Brasil Disclaimer This presentation may include forward-looking statements of future events or results according to regulations of the Brazilian and international securities
More informationEmpresa de Energía de Bogotá S.A. E.S.P.- and its Subsidiaries
Empresa de Energía de Bogotá S.A. E.S.P.- and its Subsidiaries Consolidated Financial Statements as of December 31, 2007 and 2006 and for the years then ended and Independent Auditors Report INDEPENDENT
More informationColombia Telecomunicaciones S.A. E.S.P.
S P E C I A L P U R P O S E F I N A N C I A L S T A T E M E N T S W I T H E XPLANATORY N O T E S Colombia Telecomunicaciones S.A. E.S.P. At September 30, 2012 and for the nine-month period ended September
More informationMarch 26 th, Colombia - Equities COLCAP Questions Book for Investors What should be top of mind in 2015? Country: Colombia Equity Strategy
March 26 th, 2015 Colombia - Equities COLCAP Questions Book for Investors What should be top of mind in 2015? It is clear that the macro picture is setting the tone for the local equity market. A decelerating
More informationGRUPO ARGOS. March 31, Q Report BVC: INVARGOS, PFINVRAGOS
GRUPO ARGOS March 31, 2013 1Q Report BVC: INVARGOS, PFINVRAGOS EXECUTIVE SUMMARY For the first quarter of 2013, revenues for consolidated Grupo Argos up to COP$ 1.7 trillion (US$ 995 millions), an increase
More informationISA s investments in Brazil January 30, 2017
ISA s investments in Brazil January 30, 2017 AGENDA 2 ISA s Corporate Strategy VISION In 2020, ISA s 2012 profits will be tripled, by capturing the most profitable growth opportunities in its existing
More informationTHIRD QUARTER RESULTS
2016 THIRD QUARTER RESULTS Stock Listing Information Colombian Stock Exchange S.A. Ticker: CLH Investor Relations Jesús Ortiz de la Fuente +57 (1) 603-9051 E-mail: jesus.ortizd@cemex.com OPERATING AND
More informationSHAREHOLDERS ASSEMBLY
SHAREHOLDERS ASSEMBLY September 2017 Agenda 1. Assistance and Verification of Quorum 2. Reading of Meeting Notice 3. Reading of the Report of the Board of Directors and President 4. Presentación of the
More informationFITCH AFFIRMS ISA CAPITAL'S IDRS AT 'BB+'; CTEEP'S NAT'L SCALE RATING UPGRADED TO 'AAA(BRA)'
FITCH AFFIRMS ISA CAPITAL'S IDRS AT 'BB+'; CTEEP'S NAT'L SCALE RATING UPGRADED TO 'AAA(BRA)' Fitch Ratings-Sao Paulo-22 August 2016: Fitch Ratings has affirmed ISA Capital do Brasil S.A.'s (ISA Capital)
More information