Financial Information. First Quarter 2012

Transcription

1 Financial Information First Quarter 2012

2 Disclaimer This document was prepared by EPM for the purpose of providing interested parties with the company's financial information. This document may include strategy discussions as well as prospective declarations regarding the probable progress of EPM's business areas. They include information relating to the company's estimations or expectations concerning its future and operating results. Potential investors and the market in general must recognize that the information contained herein does not represent any guarantee of performance, risks and uncertainties that may occur or come to fruition. Real results may vary or differ from those anticipated in this document, due to a number of factors that are beyond the control of the company. Neither EPM, nor its advisers, officials, employees, directors or agents, or any representative will assume any responsibility regarding the performance of the real events of the company, should it differ from that which is provided. Conversely, EPM's advisers, employees, directors or agents do not have any obligation to update, correct, modify or adjust this presentation of information with respect to events that occur following this communication. This presentation is for the purposes of debate only and must be referenced by solely considering the verbal information provided by EPM, otherwise it will be rendered incomplete. Neither this, nor any of its content may be used for any other purpose without the prior written consent of EPM. 2

3 Agenda Highlights First Quarter 2012 Financial Results Ituango Hydroelectric Project 3

4 Highlights First Quarter 2012 US$ Million Contract awarded to Spanish-Korean consortium, Aguas de Aburrá HHA (Hyundai Engineering and Construction Co. Ltd., Hyundai Engineering Co. Ltd., and Acciona Agua), for the construction and operation during the first year of the Bello sewage water treatment plant. Start of construction scheduled for 2nd quarter, 2012 EBITDA of US$ 553 Million, representing a 10% increase compared to 1 st Q Creation of EPM Mexico with goal of exploring and developing investment opportunities in that market. Election of 3 new members to the Board of Directors: Manuel Santiago Mejía, Beatriz Restrepo Gallego and Andrés Bernal Correa. Timetable and Civil works for the Ituango Project (diversion tunnel, access roads and camps) on schedule 4

5 Financial Results 5

6 Macro figures Concept Colombia Panamá Salvador Guatemala Mar-12 Mar-11 Mar-12 Mar-11 Mar-12 Mar-11 Mar-12 Mar-11 Inflation 1,47% 1,79% 6,30% 4,90% 0,80% 1,50% 0,90% 2,50% PPI / WPI -0,58% 3,24% 7,60% 10,50% 0,20% 4,60% N,A N,A GDP (Dec,2011/2010) 5.90% 4.31% 10.60% 7.50% 1.50% 1.43% 3.90% 2.60% Exchange rate 1.792, ,47 N,A N,A N,A N,A 7,7 7,7 PPI: Producers Price Index (Colombia) WPI: Wholesale Price Index (Panamá y El Salvador 6

7 Income Statement Figures in US$ MM Item to March 2011 to March 2012 Var.% Revenues Costs and expenses EBITDA Provisions, Depreciation Amortizations Operating Profit Other Non-Operating Income, net Provision for Income Tax Net Profit for the Fiscal Q Revenues 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 CAGR: 21% 1,154 1, , ,542 4,915 2,239 2, LTM Energy Water Telecommunications 7

8 Revenues by geography Figures in US$ MM Revenues to March Var. prev 2012 year % EPM Parent Company Colombian Energy Affiliates Central American Subs Water subsidiaries 5 27 UNE TELCO subsidiaries 78 (10) Other 1 36 Total revenues 1, EBITDA to March Var. prev 2012 year % EPM Parent Company Colombian Energy Affiliates Central American Subs Water subsidiaries (1) NA UNE 82 2 TELCO subsidiaries 8 (30) Other 1 36 Total EBITDA

9 Revenues by business unit Figures in US$ MM Growth for the quarter: 19% Item to March 2012 Var. prev year % Energy 1, Water 91 3 Telecommunications Other 1 36 Total 1,

10 Costs and expenses by business unit Figures in US$ MM Growth for the quarter: 24% Item to March 2012 Var. prev year % Energy Water 48 4 Telecommunications Other 0 37 Total 1,

11 EBITDA by business unit Figures in US$ MM Growth for the quarter: 10% Item to March 2012 Var. prev year % Energy Water 43 1 Telecommunications 91 (2) Other 1 36 Total

12 Net Profit by business unit Figures in US$ MM Growth for the quarter: 24% Item to March 2012 Var. prev year % Energy Water 17 (8) Telecommunications 6 (61) Other 1 36 Total

13 Balance Sheet Figures in US$ MM TACC Assets: 20% Item to March 2012 Share % Var. prev year % Assets 19, Current Assets 3, Non-Current Assets 15, Liabilities 7, Current 2, Non-current 5, Minority Interest Equity 11, Assets Financial obligations 3,

14 Financial Ratios Item EPM Group Energy Water Telecommuni cations EBITDA Margin 33% 32% 47% 30% Operating Margin 23% 26% 30% 4% Net Profit Margin 17% 21% 19% 2% Liquidity Ratio Total Debt to Total Assets 38% 38% 35% 38% Financial Debt to Total Assets 20% 21% 21% 18% Equity profitability 11% 14% 5% 2% Asset profitability 6% 8% 3% 1% EBITDA/Financial expenses Debt/EBITDA Item LTM Revenues EBITDA EBITDA Margin 37% 36% 34% 31% 31% 14

15 Ituango Hydroelectric Project

16 Technical information Cost Sources of financing Status Energy Dam Reservoir Total Volume Useful Volume Area flooded 8,566 GWh/year 225m height, 20 mm m³ 79 km length 2,720 mm/m³ 975 mm/m³ 3,800 hectares US$ 5.5 bill.* ECA Multilateral Agencies Capital Markets Commercial Banks Under construction Start of operation: - Stage I Stage II 2022 * Includes financial and unforeseen costs. 16

17 Main Bidding Processes Ongoing Processes 37K Road from Puerto Valdivia to dam site CSS Constructores. Luis Solarte Carlos Solarte Mincivil S.A.- SP Ingenieros S.A.S, Estyma Conconcreto S.A., Camargo Correa El Cóndor, Bridges and Cable Strands Cost Range: COP$ $602.1 million Main civil works Camargo Correa S.A. Conconcreto and Coninsa Ramon H. Acciona OAS Ltda - Underground Works - El Cóndor Andrade Gutiérrez - Impregilo - Conciviles Odebrecht - Mincivil S.A. and CSS Cost Range: COP$ $2.37 billion Electro mechanic Equipment Alstom Brasil Energia E Transporte Ltda CMEC Donfang Electric Machinery Co. Ltd. Industrias Metalúrgicas Pescarmona IMPSA Mitsui & Co. Plant Systems, Ltd. Cost Range: US$ $182.2million (turbines) Cost Range: US$ $190.1million (generators) Ongoing Contracts Project Supervision Social and environmental management plan Economic-Technical valuation of mining titles Insurance Secondary Roads, camps and sub-station infrastructure 17 Diversion Tunnels, access and corridor for engine room Remaining Bids for 2012 Secondary equipment (cranes, transformers, elevators, sluice-gates) 17