Investor Presentation. BVC - Deceval - Citi Colombia Inside Out. London - New York May 10-13, 2016

Transcription

1 Investor Presentation BVC - Deceval - Citi Colombia Inside Out. London - New York May 10-13, 2016

2 AGENDA 2

3 Limited growth in Colombia led to international expansion and diversification Institutional consolidation Geographic expansion Diversification Consolidation VISION In 2020, ISA s 2012 profits will be tripled, by capturing the most profitable growth opportunities in its existing businesses in Latin America, boosting operational efficiency and optimizing its business portfolio. 3

4 As of 2015, ISA multiplied its 2012 s profits 2,6 times. ROE doubled 2012 to ISA s 2012 profits will be tripled relative profitability enhanced significantly Net Income x 3.0x ,9 4,5 Consolidated Indicators 2,0 5,8 2,3 7,4 2,9 8, ROE (%) EBITDA (billones $) EBITDA (COP billion)

5 AGENDA 5

6 Shareholders structure and recent dividend payout history 35,53% is the free float Shareholders Structure April 2016 # SHARES % STATE INVESTORS ,58% THE COLOMBIAN GOVERNMENT ,41% EMPRESAS PÚBLICAS DE MEDELLÍN ,17% COMPANIES WITH PUBLIC AND PRIVATE CAPITAL ,90% ECOPETROL ,67% EMPRESA DE ENERGÍA DE BOGOTA ,23% FREE FLOAT ,53% INSTITUTIONAL INVESTORS ,60% FOREIGN INVESTORS ,14% INDIVIDUALS ,89% LEGAL ENTITIES ,85% ISA ADR PROGRAM ,04% SUBSCRIBED AND PAID-IN CAPITAL ,00% Dividends per share (COP) Ordinary Extraordinary ,5%

7 Strong Corporate Governance in accordance with OECD 1 directives... ISA s Board of Directors Principal Carlos Caballero Argáez* Vice Minister General Director of Public Credit and National Treasury Carlos Mario Giraldo* Carlos Felipe Londoño Álvarez Jesús Arturo Aristizabal Guevara* Henry Medina Gonzalez* Santiago Montenegro Trujillo* Camilo Zea Gómez * Nominated by: Independent - nominated by the Nation MHCP Ministry of Finance and Public Credit Ministry of Finance and Public Credit Independent - nominated by the Nation MHCP Non-independent - nominated by the Nation MHCP Independent - nominated by EPM Independent - nominated by Ecopetrol Independent - nominated by Pension Funds Independent - nominated by Pension Funds Independent Members, as provided by Law 964 of ** Chairman of the Board 1. OECD: Organisation for Economic Co-operation and Development ISA was awarded in 2015 the ALAS 2020 prize for best Corporate Governance in Colombia. 7

8 AGENDA 8

9 ISA, a multi-latin corporation with wide presence in most of Latin America 9

10 ISA s activities are focused on 4 lines of businesses Revenues by Business Energy Transmission 80% 80% 68% 70% 73% Road Concessions 16% 17% 26% 21% 20% Telecommunications 2% 3% 4% 6% 5% Management of Real- Time Systems (XM) 2% 2% 2% 3% 2% 10

11 Availability (%) In Energy Transmission, ISA is the largest international energy carrier in Latin America Revenues 2015: COP 3.776b EBITDA Margin: 52,1% ITCO 99,94 Transelca 99,83 REP 99,52 Transmantaro 99,75 ISA Perú 99,83 CTEEP 99,96 ISA Bolivia 99,55 11

12 In Telecommunications, ISA deploys the longest wide band fiber optics ring in the continent Revenues 2015: COP 284b EBITDA Margin: 32,1% Services offered in over 170 cities in Latin America. 12

13 ISA is the largest operator of toll roads in Chile... Revenues 2015: COP 1.095b EBITDA Margin: 72,4% 11 mainline tolls, 84 lateral tolls and 18 service areas, 293 bridges. A design velocity of 120 km/h. 13

14 Management of Real-Time Systems is a business that operates in Colombia through XM.. operates the National Interconnected System (Sistema Interconectado Nacional, SIN) manages the Wholesale Energy Market manages International Electricity Transactions performs the settlement and administration of Filiales y charges for use of SIN grids subsidiarias Other sectors: Derivex: manages the trading and registration system for electricity futures in Colombia. Participation: 49,84% Mobility: XM oversees and coordinates the Traffic Control Center of the Intelligent Mobility System of Medellin. 14

15 ISA permanently analyzes relevant investment opportunities in the region to guarantee continued growth and profitability Colombia UPME Expansion Plan for a total of USD 215 (reference value) for Colombia-Panama Interconnection. USD 500 Peru Proinversión Projects for New La Planicie substation and transmission line Aguaytía - Pucalpa. Estimated investment: USD 63,1 million. Chile Plex 7 CDEC-SIC projects: New transformers groups in Cardones, Maitencillo and Pan de Azucar substations, plus sectioning substation, associated transmission lines. Estimated investment: USD 168,5 million. MOP Projects 2016, with investments of USD 556,4 million in pedestrian connectivity and regulatory safety projects in concessions of Ruta del Maule, Ruta del Bosque, Ruta de Araucanía and Ruta de los Ríos. Brazil Reinforcement projects authorized by ANEEL. Annual USD 72,5 million. 15

16 AGENDA 16

17 EBITDA AO&M Revenues Consolidated Income Statement Figures in COP billions COLGAAP IFRS USD million USD 1 = $3.149, Change % Change % Change % AO&M: Administration, Operation and Manteinance 17

18 Margins Net Income Consolidated Income Statement Figures in COP billions COLGAAP IFRS USD million USD 1 = $3.149, Change % , COLGAAP IFRS 69% 68% 56% 58% 55% 55% 50% 47% 8% 6% 43% 12% 48% 45% 46% 15% 12% 13%

19 COP billions Consolidated Balance Sheet Exchange Rate USD 1 = COP 3.149,47 Assets ,8% Assets Breakdown by business ,2% Telecommu nications 3,0% MRTS(XM) 0,5% ,4% ,9% Roads 29,7% Energy 66,9% Liabilities Non-controlling interest Equity As of 2015 assets accounted for COP million / USD million 19

20 Consolidated Financial Debt Exchange Rate USD 1 = COP 3.149,47 COP million Change % 2015 USD CHILE ,1% COLOMBIA ,3% 671 PERU ,1% 879 BRAZIL ,7% 538 BOLIVIA ,4% 17 ARGENTINA ,3% 1 TOTAL ,5% TOTAL USD ,0% 4,2 4,2 4,4 4,5 3,9 3,9 4,2 4,3 4,3 4,2 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 Debt / EBITDA EBITDA / Interest 3,9 3, Breakdown rate TJLP Libor 2,8% 4,6% TAB 7,5% CDI 9,7% DTF 1,1% IPCA 0,3% UF 33,4% source Banks 31,2% Other 0,6% Capital Market 68,2% currency UF + CLP 40,9% Otras 0,0% COP 17,9% BRL 13,9% IPC 16,8% Tasa Fija 23,7% USD 27,2% 20

21 ISA's risk ratings reflect the company s strong financial profile of the company, with stable and predictable flows... International Corporate Ratings Baa2 Stable outlook International Corporate Ratings BBB Negative outlook Rating for bonds issued AAA(col) International Corporate Ratings BBB October 2015 February 2016 Stable outlook May

22 USD 3.2 billion in investments already commited supports future growth COLOMBIA PERU BRAZIL CHILE OTHERS 926 COP billion USD million Projections: February TRM by country COP billion Colombia ,5 Peru ,5 Brazil ,8 Chile ,2 Others 5 0,0 % by business COP billion Energy ,9 Toll Roads 116 1,2 Telecommunications 799 8,4 SMRTS 142 1,5 % 22

23 Disclaimer Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of These forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Also, these forward-looking statements present our estimates and assumptions only as of the date of this report. Except for our ongoing obligation to disclose material information as required by federal securities laws, we do not intend to update you concerning any future revisions to any forward-looking statements to reflect events or circumstances occurring after the date of this report. Amounts expressed in US dollars are for information purposes only, and do not reflect accounting conversion techniques usually applied. 23

24 Investor Relations Contact Website Telephone /ISAAvanza Interconexión Eléctrica ISA /CanalISAAvanza 24

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