Asesores Financieros 4Q15 Results Presentation| March 2016 › media › upload › inversion...Results as of Dec-15 Magotteaux 11 Consolidated income totaled US$692 million as of

Asesores Financieros

4Q15 Results Presentation| March 2016

Larrainvial 10th Annual Andean Conference Santiago

Agenda

02SK’s subsidiaries

Highlights

03Financials

01General Background

3

286(1)

121(2)

Company Overview

Source: Company

Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of June 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 ComercialIngeniería y

ConstrucciónEnaex Magotteaux

60.43% 60.72% 95.00% 85.77%

Enaex Magotteaux SK Comercial

SKBergéPuerto

VentanasCHBBSK Godelius

50.01% 58.19% 74.59% 40.00%

4

Corporate Governance

Ownership StructureBoard of Directors

Source: Santiago Stock Exchange.

(1) Last 12 month

Corporate PresentationSigdo Koppers .

Daily Average vol. traded (1): US$0.3 millions

Market Cap: US$1.3 billions (As of Feb 29th 2016)

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

Independent Director

7. Jaime Vargas Serrano

Director

5,41% Stock Brokers

6,26% Mutual Funds and

other institutional

investors

9,33% Pension Funds

and Insurance companies

2,58% Others

Ownership structure as of Dec-15

1

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 & LOGISTICSMINING

DEVELPOMENT

1 3 42

1 2 3 4+ + +

BHP Billiton - Minera Escondida:

1 2 3 4+ + +Codelco – Andina:

1 2 3+ +

6

Dic-14 Dic-15 Var.

Sales 2.499.612 2.414.522 -3,4%

EBITDA (1) 365.970 378.593 3,4%

EBITDA Margin 14,6% 15,7%

EBITDA Pro Forma (2) 427.441 433.566 1,4%

Profi t (Loss ) 211.284 203.702 -3,6%

Sigdo Koppers Net Profit (non

recurrent)134.668 134.987 0,2%

Dic-14 Dic-15 Var.

Total Assets 3.380.313 3.475.023 2,8%

Total Equity (3) 1.602.489 1.573.746 -1,8%

Deuda Financiera Neta 787.549 875.630 11,2%

Deuda Financiera Neta/ EBITDA 2,15 2,31

ROE 11,23% 11,36%

ROCE 9,39% 9,42%

Consolidated Income StatementFigures in ThUS$

6

The consolidated revenues droped inUS$85 millions:

CLP/USD exchange rateimpacted the accounting of ICSK,SK Rental and Fepasa.

The revenues of Magotteauxand Enaex also fell because theprices of raw materials dropped

Significant increase in the EBITDA margin,from 14.3% to 15.7%, a reflection of thecost control efforts in several of thecompanies.

The net profit totaled US$99 million, anincrease of 0.4% compared to the close ofthe previous year.

SK distributed dividends of CLP$36 pershare in 2015, which meant a dividendyield of 4.3% at the close of 2015.

Highlights as of December 2015Results as of Dec-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 consolidatedcash liquidity of US$245 million and aconservative level of consolidated debt.

The net financial debt-to-EBITDA ratio is2.31x

7

Agenda

Results as of Dec-15


Highlights

03Financial

Exhibits


8

Ingeniería y Construcción SK


8(*) EBITDA Pro-Forma: EBITDA + Related company profit

Dic-14 Dic-15 Var. 4Q14 4Q15 Var.

MM$ MM$ % MM$ MM$ %

Revenue 316.509 319.373 0,9% 59.938 97.587 62,8%

EBITDA 22.932 18.915 -17,5% 4.684 6.428 37,2%

EBITDA Margin 7,2% 5,9% 7,8% 6,6%

EBITDA Pro-Forma (*) 40.064 36.341 -9,3% 8.312 12.490 50,3%

Pro-Forma EBITDA Margin 12,7% 11,4% 13,9% 12,8%

Control ler's net profi t 20.196 20.555 1,8% 2.787 7.095 154,6%

Horas

(Miles)

Horas

(Miles) Var.

Horas

(Miles)

Horas

(Miles) Var.

Total man-hours executed 27.166 22.458 -17,3% 4.240 4.753 12,1%

Ingeniería y Construcción Sigdo

Koppers

(*) EBITDA Pro-Forma: EBITDA + Related company profit

Consolidated revenue MM$ 319,373 (US $ 488 million) (+ 1%) Man Hours executed 23 million (-17%)

Pro-Forma EBITDA of $ 36,341 million (-9%) Pro-Forma EBITDA margin reached 11%

ICSK is considering participating in the market for transmissionlines in Brazil in partnership with Alumini

At 4T15, the company has a backlog of US$ 513 million, mainlyin mining and power projects to be implemented between 2016-2018, in Chile (85%),Peru (8%) and Brazil (7% ).

9

Puerto Ventanas

9


Puerto Ventanas 5.928.225 Tons (-0,2%) transfered as of Dec-15

Coal (+6%)

Clinker (+25%)

Cooper Concentrate (-5%)

Same revenues levels from the Port Businesscompared to Dec-14

Port business´ EBITDA increased 3% due to higheroperating efficiency and more favorable exchangerate.

EBITDA Margin: 56%

PVSA Holds a market share of 61% in solid bulkcargo transfer as of December 2015

Fepasa

Fepasa carried a total of 1.212.401 Ktons-Kmof cargo 4Q15 (-4%)

Mining cargo (21% of total transported): -0,4in Ton/Km

Forestry cargo (pulp): (54% of totaltransported): -2,6% in Ton/Km

Fepasa consolidated EBITDA reached US$9millions (-21% in pesos)

EBITDA Margin: 14%

Fepasa signed a contract with Anglo American to carrycopper concentrate via railroad from Las Tortolas Plant(Los Andes) to Puerto Ventanas, beginning operationsin 2017.


MUS$ MUS$ % MUS$ MUS$ %

Revenue 142.427 131.832 -7,4% 36.590 33.238 -9,2%

EBITDA 46.770 43.318 -7,4% 13.124 10.670 -18,7%

EBITDA Margin 32,8% 32,9% 35,9% 32,1%

Control ler's net profi t 25.282 24.896 -1,5% 7.310 6.127 -16,2%

PVSA - Tons transferred 5.937.708 5.928.225 -0,2% 1.418.520 1.477.672 4,2%

Fepasa - Th Ton-Km 1.256.435 1.212.401 -3,5% 330.670 305.042 -7,8%

Puerto Ventanas

Consolidated

1010

Enaex


Enaex recorded revenues of US$762 million (+18%)

Physical sales totaled 937 Ktons (+8%)

Increase of 19% in physical sales in the rock blasting servicesbusiness compared to 2014.

The average price of ammonia reach US$458/ton (-17%)

The consolidated EBITDA of Enaex was US$181 million (+18%)

Enaex recorded a net profit of US$105 million (+6%)

Enaex agreed to buy Davey Bickford, a global manufacturerand distributor of electronic detonators for the explosivesindustry at US$ 106 million (for 91% of shares).

Enaex bought 66,7% share of Xion Participacoes, for US$85million. Enaex now controls 100% of the Brazilian company IBQ(Britanite).

Physical Sales Evolution (Thu tons)

Sep-14 Sep-15 Var. 3Q14 3Q15 Var.


Revenue 470.852 556.603 18,2% 167.729 209.959 25,2%

EBITDA 114.939 132.654 15,4% 36.878 51.389 39,3%

EBITDA Margin 24,4% 23,8% 22,0% 24,5%


EnaexDic-14 Dic-15 Var. 4Q14 4Q15 Var.


Revenue 645.950 761.766 17,9% 175.098 205.163 17,2%

EBITDA 154.126 181.056 17,5% 39.187 48.402 23,5%

EBITDA Margin 23,9% 23,8% 22,4% 23,6%


Enaex

11


Magotteaux

11

Consolidated income totaled US$692 million as of 4Q15 (-11%)

Physical sales totaled 372 Ktons

321,722 tons of mill balls (-2%) (81% in mining)

50,138 tons of castings (53% in cement, 30% in agregates)

EBITDA amounted to US$80 millions as of Dec-15 (+17%)

Better performance and margins in the business lines of castingand grinding balls

Lower SG&A – reorganization process

The company earned a net profit of US$29 millions as of 4Q15.



Revenue 776.513 692.284 -10,8% 189.224 162.138 -14,3%

EBITDA 69.009 80.415 16,5% 18.574 21.553 16,0%

EBITDA Margin 8,9% 11,6% 9,8% 13,3%


Magotteaux Group (1)

Dic-14 Dic-15

Mil l Ba l ls 326.867 321.722 -1,6%

Bolas de Mol ienda 47.717 50.138 5,1%

Casting 374.585 371.860 -0,7%(1) Consolidated figures of Magotteaux & SK Sabo Chile S.A.

Magotteaux Group (1)

Var.

%

1212

SK Comercial


Distribution of SK Rental Fleet by Country (US$)

Consolidated revenues totaled US$347 millions (-9%)

The machinery distribution business sold 2,125 units (-2%).

SK Rental revenue dropped 15% compared to 2014 (FX impact)

SK Rental Consolidated fleet reaches 4,565 units (valued at US$216millions (-15%))

Consolidated EBITDA reached US$51 millions (-19%)

Consolidated EBITDA Margin of 15%

The net profit of SK Comercial totaled US$0,2 million

This result is composed of a lower yield in machinery rental business inChile (SK Rental) and lower business performance in DistributionServices.



Revenue 383.201 347.412 -9,3% 97.314 88.685 -8,9%

Distribution Business 261.384 257.465 -1,5% 68.930 66.961 -2,9%

Rental Business 157.964 134.181 -15,1% 39.146 31.101 -20,6%

Consolidation adjust -36.147 -44.234 22,4% -10.762 -9.377 -12,9%

EBITDA 62.297 50.760 -18,5% 16.147 10.529 -34,8%

EBITDA Margin 16,3% 14,6% 16,6% 11,9%

Control ler's net profi t 5.143 225 -95,6% 2.520 -798 -131,7%

SK Comercial

1313

SK Inversiones Automotrices

Perú

Argentina

Chile

Colombia


SKIA recorded revenues of MCH$18,627(US$29 millions) (+6%).

Result affected by favorable exchange rate.

SKBergé sold 71,898 units, showing a decreaseof 12% compared to 4Q14.

Increase in Market Share of 12% to 13% inChile

Lower performance in overseas sales 35,962units (-10%)

ANAC recorded sales of 282,232 units in Chileat the end of 4Q15 (-16%).

High growth potential in countries with lowdensity of cars like Peru and Colombia


MM$ MM$ % MM$ MM$ %

Control ler's net profit 17.657 18.627 5,5% 6.437 4.728 -26,6%

SK Inversiones

Automotrices

1414

Ingeniería y Construcción Sigdo Koppers:

The award of the SIC-SING interconnection project that will entail an investment of close to US$320 million.

ICSK maintains a high level of backlog and remains expectant of new project awards

Puerto Ventanas:

High operational efficiency in the Port Business

New investments in development stage in the port in Quintero. Pipeline: new projects in the railway business

Enaex:

Significant growth in the service business (rock fragmentation) in Chile (new award of Collahuasi)

Important new investments in the Rock Fragmentation Services business (Davey Bicford & Britanite)

Magotteaux:

Successful implementation of the reorganization plan. Benefits will materialize during 2015 and 2016.

Best performance in castings

SK Comercial:

Slight recovery in the Distribution of machinery business

Positive evidence ability to adapt to low investment cycles thru inventory reduction and reduced size of the rental

fleet.

SKBergé:

Lower decreased in units of SKBergé vs market - Increased market share

Diversification of currency, market and brand is a protection in low business cycles

Summary highlights of SK Companies – 4Q15


Agenda


Highlights

03Financial

Exhibits



Income Statement of Sigdo Koppers

16



Sales 2.499.612 2.414.522 -3,4% 595.612 629.780 5,7%

Sales expenses -1.952.217 -1.852.640 5,1% -466.984 -489.224 -4,8%

Gross income 547.395 561.882 2,6% 128.628 140.556 9,3%

Other operating income 15.725 14.688 -6,6% 6.321 3.683 -41,7%

Distribution costs -87.899 -82.837 5,8% -19.789 -20.310 -2,6%

Administrative expenses -223.988 -226.128 -1,0% -51.457 -54.195 -5,3%

Other operating expenses -4.302 -13.355 -210,4% -992 -6.201 -525,1%

Operating income 246.931 254.250 3,0% 62.711 63.533 1,3%

EBITDA 365.970 378.593 3,4% 93.764 98.800 5,4%

% EBITDA Margin 14,6% 15,7% 15,7% 15,7%

Interest income 4.992 5.311 6,4% 1.696 2.016 18,9%

Interest expenses -52.849 -52.569 0,5% -13.722 -14.924 -8,8%

Related companies income 61.471 54.973 -10,6% 17.468 15.192 -13,0%

Exchange differentials -6.362 -13.808 -117,0% 1.419 -1.339 -194,4%

Price - level restatement 1.780 2.198 23,5% -2.325 -562 75,8%

Other income (losses) -116 -882 -660,3% -184 -2.336 -1169,6%

Gain (losses) between book value and fair

value (financial assets)7 - - -

Income before taxes 255.854 249.473 -2,5% 67.063 61.580 -8,2%

Income tax -44.570 -45.771 -2,7% -12.148 -7.940 34,6%

Income 211.284 203.702 -3,6% 54.915 53.640 -2,3%Gain (losses) from uncontinnued

operations - - - -

Net income 211.284 203.702 -3,6% 54.915 53.640 -2,3%

Income attributable to Sigdo Koppers 134.668 134.987 0,2% 36.414 36.332 -0,2%

Income attributable to non-

control l ing interests76.616 68.715 -10,3% 18.501 17.308 -6,4%

Net income 211.284 203.702 -3,6% 54.915 53.640 -2,3%

Sigdo Koppers

Consolidated Income Statement

Figures in ThUS$ Cifras en MUS$

Revenue of Sigdo Koppers

17


(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.

Area Servicios

Area Industrial

Area Comercial

y Automotriz


Services 697.170 619.850 -11,1% 134.143 174.649 30,2%

Ingeniería y Construcción SK 554.743 488.018 -12,0% 97.553 141.411 45,0%

Puerto Ventanas 142.427 131.832 -7,4% 36.590 33.238 -9,2%

Industrial 1.426.212 1.457.492 2,2% 365.228 368.130 0,8%

Enaex 645.950 761.766 17,9% 175.098 205.163 17,2%

Magotteaux (1) 776.513 692.284 -10,8% 189.224 162.138 -14,3%

SK Inv. Petroquímicas 3.749 3.442 -8,2% 906 829 -8,5%

Commercial & Automotive 383.201 347.412 -9,3% 97.314 88.685 -8,9%

SK Comercial 383.201 347.412 -9,3% 97.314 88.685 -8,9%

SKIA (2) - - - - - -

Parent company & adjustment(3) -6.971 -10.232 46,8% -1.073 -1.684 56,9%

Consolidated Sales 2.499.612 2.414.522 -3,4% 595.612 629.780 5,7%

Figures in ThUS$Revenue

Business Areas

Figures in ThUS$

Revenue by country (incl. SK Bergé)D

18


As of december 2014

As of December 2015

Chile Perú Colombia Brasil AsiaNorte

AmericaEuropa 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 77,1% 22,9% 0,0% 0,0% 0,0% 0,0% 0,0% 0,0%

Ingeniería y Construcción SK 70,9% 29,1% - - - - - -

Puerto Ventanas 100% - - - - - - -

Área Industrial 48,2% 1,0% 0,0% 10,4% 8,6% 12,7% 15,4% 3,7%

Enaex 79,4% 2,0% - 9,9% - - 5,5% 3,2%

Magotteaux 13,5% - - 11,0% 18,2% 26,8% 26,3% 4,2%

SK Inv. Petroquímicas 100% - - - - - - -

Área Comercial y Automotriz 57,7% 32,1% 7,2% 0,4% 0,0% 0,0% 0,0% 2,6%

SK Comercial 77,8% 18,5% 1,6% 2,0% - - - -

SKIA 52,5% 35,6% 8,6% - - - - 3,3%

Ventas Empresas SK 57,2% 18,7% 3,2% 4,2% 3,3% 4,9% 5,9% 2,6%

Ventas

Áreas de Negocios

EBITDA of Sigdo Koppers

19


(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


Services 86.963 72.221 -17,0% 20.799 20.058 -3,6%

Ingeniería y Construcción SK 40.193 28.903 -28,1% 7.675 9.388 22,3%

Puerto Ventanas 46.770 43.318 -7,4% 13.124 10.670 -18,7%

Industrial 225.585 263.548 16,8% 58.342 70.440 20,7%

Enaex 154.126 181.056 17,5% 39.187 48.402 23,5%

Magotteaux (1) 69.009 80.415 16,5% 18.574 21.553 16,0%

SK Inv. Petroquímicas 2.450 2.077 -15,2% 581 485 -16,5%


SK Comercial 62.297 50.760 -18,5% 16.147 10.529 -34,8%

SKIA (3) -80 -103 28,8% -20 -37 85,0%

Parent company & adjustment -8.795 -7.833 -10,9% -1.505 -2.190 45,5%

Consolidated EBITDA 365.970 378.593 3,4% 93.764 98.800 5,4%

EBITDA Margin 14,6% 15,7% 15,7% 15,7%

Consolidated pro-forma EBITDA 427.441 433.566 1,4% 111.232 113.992 2,5%

Figures in ThUS$EBITDA

Business Areas

Figures in ThUS$

Area Servicios

Area Industrial

Area Comercial

y Automotriz

20

EBITDA Pro-Forma

por área de Negocios

20

EBITDA Pro-FormaPor áreas de negocio: Dec-15 v/s Dec-14 (US$ Thu)

Resultados Dec-15

+1,4%

Lower EBITDA

Pro-Forma in CLP

(-9%)

Lower performance in

rental business

outside Chile

Lower results in

railway bussiness

(FEPASA)

Higher EBITDA in

Enaex and Britanie

and Davey

Bickford

consolidation

Less IT

expenses Better performance in

castings and lower SG&A

Servicios

Industrial

Comercial y

Automotriz

Favorable exchange

rate conditions

Net Profit of Sigdo Koppers

21


(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 December 2013.

Dic-14 Dic-15 Var. Dic-15 Dic-14 Dic-15 Var.

Services 60.681 56.304 -7,2% 34.515 32.144 -6,9%

Ingeniería y Construcción SK 35.398 31.408 -11,3% 60,43% 21.392 18.980 -11,3%

Puerto Ventanas 25.283 24.896 -1,5% 50,01% 13.123 13.164 0,3%

Industrial 127.169 135.420 6,5% 83.419 89.640 7,5%

Enaex 99.149 104.582 5,5% 60,72% 60.204 63.503 5,5%

Magotteaux (1) 26.364 29.396 11,5% 95,00% 21.886 24.943 14,0%

SK Inv. Petroquímicas (2) 1.656 1.442 -12,9% 74,59% 1.329 1.194 -10,2%


SK Comercial 5.144 225 -95,6% 85,77% 4.411 192 -95,6%

SKIA 30.947 28.463 -8,0% 99,99% 30.947 28.462 -8,0%

SK companies profit 223.941 220.412 -1,6% 153.292 150.438 -1,9%

Parent company & adjusments -18.624 -15.451

Total consolidated profit 134.668 134.987 0,2%

Total Companies Attributable to parent companyNet profit

Business Areas

% SKFigures in ThUS$ Figures in ThUS$

Dec-14 Dic-15 Var.

Current Assets

Cash and cash equivalent 237.470 245.206 3,3%

Account and sales receivables 560.715 539.654 -3,8%

Inventories 310.523 296.416 -4,5%

Other current assets 54.160 50.300 -7,1%

Total current assets 1.162.868 1.131.576 -2,7%

Long-term assets

Property, plants & equipment 1.181.320 1.161.598 -1,7%

Other long-term assets 1.036.125 1.181.849 14,1%

Total long-term assets 2.217.445 2.343.447 5,7%

Total assets 3.380.313 3.475.023 2,8%

Current liabilities

Short-term financial debt 306.441 251.940 -17,8%

Accounts payable 272.273 283.157 4,0%

Other current l iabilities 155.012 167.098 7,8%

Total current liabilities 733.726 702.195 -4,3%

Long-term liabilities

Long-term financial debt 718.578 868.896 20,9%

Other long-term liabilities 325.520 330.186 1,4%

Total long-term liabilities 1.044.098 1.199.082 14,8%

Total liabilities 1.777.824 1.901.277 6,9%

Equity

Attributable to the controller 1.198.855 1.188.685 -0,8%

Attributable to non-controlling interests 403.634 385.061 -4,6%

Total equity 1.602.489 1.573.746 -1,8%

Total liabilities and equity 3.380.313 3.475.023 2,8%

Consolidated Balance SheetFigures in ThUS$

Balance Sigdo Koppers

22


Indicators

Net Financial Debt 787.549 875.630

Working Capital 598.965 552.913

Working Capital Days 87 84

Days of Consolidated Inventory 58 58

Accounts Receivable (Days) 82 82

Accounts Payable Days 51 56

23

Financial Net Debt/EBITDAFinancial Debt

23

Servicios

Industrial

Comercial y

Automotriz

Matriz

US$ 1.121 millon – Consolidated

US$ 876 millon – Financial Net Debt

Current 22%

Non Current 78%

Cash (US$ millon) Financial Key Indicators

Conservative Financial Profile


Consolidated Leverage : 1,21x

Financial Net Leverage : 0,56x

Financial Net Debt/EBITDA: 2,31x

Rating: A+ (Feller-Rate, Fitch-Ratings)

2,31x

Dic-14 Dic-15 Var.

Operating cash flow 316.956 372.951 17,7%

Investment cash flow -140.260 -323.433 130,6%

Capex -138.896 -130.359 -6,1%

Fixed assets sales 5.445 2.678 -50,8%

Other -6.809 -195.752 2774,9%

Finance cash flow -146.376 -36.466 -75,1%

Net variation in financial l iabilities 985 132.763 13378%

Interest -38.957 -37.955 -2,6%

Dividends -113.882 -108.322 -4,9%

Capital increased 3.378 229 -93,2%

Other 2.100 -23.181 -1203,9%

Total net cash flow 30.320 13.052 57,0%

Effect of exchange rate changes -10.479 -8.734 -16,7%

Cash and cash equivalent 235.238 239.556 1,8%

Consolidated

Cash Flow

Figures in ThUS$

Cash Flow of Sigdo Koppers

24


25

Capex by business Area

Resultados Dec-15

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

Major investments in fixed assets:

Puerto Ventanas: Construction of warehouse for copperconcentrate capacity of 46,000 Tons (US$ 21 millioninvestment)

Enaex:

Acquisition of 66.7% of the Brazilian company Britanite

(total investment US$ 85 million)

Acquisition of 91% of Davey Bickford (total investment US

$ 106 million)

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, loweractivity.

Capex & Investments

Dic-14 Dic-15

MUS$ MUS$

Área Servicios 17.443 36.073

Ingeniería y Construcción SK 9.264 15.278

Puerto Ventanas 8.179 20.795

Área Industrial 87.814 259.473

Enaex 31.687 223.045

Magotteaux 56.127 36.428

SK Inv. Petroquímicas - -

Área Comercial y Automotriz 15.624 -13.565

SK Comercial (1) 15.624 -13.565

SKIA - -

Total Empresas SK 120.881 281.981

Capex e Inversiones

Áreas de Negocios

Asesores Financieros

Results Presentation

Documents

Asesores Financieros 4Q15 Results Presentation| March 2016 › media › upload › inversion...Results as of Dec-15 Magotteaux 11 Consolidated income totaled US$692 million as of