endesa chile 1Q 2013 results - Home EnelEndesa Chile consolidated results 1Q 2013 6 Debt by Country Debt by Type Debt by Currency (MM US$) 1.Amounts expressed in US$, using the close

endesa chile 1Q 2013 results

30| 04 | 13

Endesa Chile consolidated results 1Q 2013

2

Higher Revenues in Colombia, mainly explained by higher average sales

price as a consequence of lower water availability.

Highlights of 1Q 2013

Non-recurring tax effects in Colombia and Chile.

Lower generation costs, mainly explained by the commissioning of

Bocamina II and lower LNG price.

7% increase in consolidated EBITDA explained by our operations in Chile, Colombia and Peru.


3

Results affected by the drought in Chile

1Amounts expressed in US$, using the average exchange rate for the period (Ch$472.38 per US$). 2 Net of “Foreign currency exchange differences” 3 Closing share price for each year

Indicator 1Q 2012

MM ch$

1Q 2013

MM ch$ Change

3M 2013

MM US$1

Revenues 541,703 489,433 (10%)

1,036

Operational Expenses (308,108) (244,770) (21%)

(518)

Contribution margin 233,595 244,663 5%

518

EBITDA 182,422 195,975 7%

415

EBIT 137,323 147,816 8%

313

Net financial charges2 (39,409) (33,134) (16%)

(70)

Earnings before taxes 126,684 144,289 14%

305

Income Tax (20,371) (35,321) 73%

75

Net income 106,313 108,969 2%

231

Minorities 40,083 45,635 14% 97

Net attributable income 66,230 63,334 (4%)

134

Net profit margin 33.7% 40.0% 19% -

Profit Margin 12.2% 12.9% 6% -

E.P.S. 8.1 7.7 (4.9%) 0.5

P/E3 108.6 108.2 (0.3%) -


Chile40%

Colombia21%

Peru12%

Argentina27%

Chile38%

Colombia25%

Peru16%

Argentina21%

Chile35%

Colombia45%

Peru17%

Argentina3%

4

EBITDA by Country

Total Installed Capacity 1: 13,794 MW

EBITDA 3M13 (TTM):

US$ 1,791 million

Total Generation 1 (TTM): 53,255 GWh

Endesa Brasil

• Endesa Chile’s ownership: 40% (38.9% direct).

• Net Attributable Income2: US$ 233 million.

1 Excludes the proportional assets from GasAtacama (390 MW). 2 Considers the total contributions of Endesa Brasil recognized by Endesa Chile as an equity method investment.


75%

24%

1%

49%

19%

32%

53%34%

13%18%

82%

68%

31%

1%

53%

20%

27%

64%

28%

8%

73%

27%

5

Prudent Commercial Policy

Regulated Spot Unregulated

Physical Sales as of March 2012

Chile Colombia Peru

Regulated Spot Unregulated

Argentina

Physical Sales as of March 2013

Chile Colombia Peru Argentina


6

Debt by Type Debt by Currency Debt by Country

(MM US$)

1.Amounts expressed in US$, using the close exchange rate for the period (Ch$ 472.03 per US$) 2 Considers “Cash and cash equivalents” and “Other current financial assets”.

Strong Financial Position

Indicator 1Q 2012

MM Ch$

1Q 2013

MM Ch$ Change

% Change

3M 2013

MM US$

Gross Debt 1,861,469 1,897,402

35,933.12 2%

4,020

Cash1 260,798 206,417

(149,569.47) (72%)

437

Net Debt 1,505,482 1,690,985

185,502.58 11%

3,582

Leverage 0.90 0.89

(0.01) (1%)

0.89

Financial Expenses

Coverage 3.92 5.15

1.10 21%

5.15

Chile 2,005

Argentina 262

Colombia 1,434

Peru 319

Other Local

Currency 40%

US$ 49%

UF + CLP 11% Others

14%

Bank Debt 14%

Bonds 72%


7

Feb. 2010 Jan. 2010 Apr. 2011

BBB+ Baa2 BBB+

Since:

Affirmed: Dec. 2012 Oct. 2012

Credit Risk Ratings

Jun. 2012

Financial Debt Maturity

Healthy Debt Profile and Credit Risk Ratings

US$ Million 2013

2014

2015

2016

2017

Balance

TOTAL

Chile 685 132 220 16 13 939 2,005

Argentina 216 39 7 - - - 262

Peru 37 54 36 60 50 83 319

Colombia - 77 159 22 115 1,061 1,434

TOTAL 939 302 422 98 177 2,082 4,020

http://www2.standardandpoors.com/portal/site/sp/en/us/page.siteselection/home.jsp

http://www.fitchratings.com/corporate/index.cfm


8

1Amounts are expressed in US$, using the average exchange rate for each period.

Free Cash Flow (US$ million)

2,098

(235)

(499) (353)

1,012

(523)

2,014

(251)

(549) (435)

779

(462)

1,714

(300)

(538)

(381)

494

(248)

1,791

(295)

(622) (424)

450

EBITDA Net Financial Result CAPEX Income Tax FCF Dividends

2010 2011 2012 1Q 2013 TTM


9

Argentina

Costanera: 2,324 MW

El Chocón: 1,328 MW Hydro

1,328 MW

Installed Capacity: 3,652 MW

Market Share*: 12%

Total Generation: 2,628 GWh

EL CHOCÓN

COSTANERA

Thermal

2,324 MW

El Chocón

Costanera

Million US$ 1Q 2012 1Q 2013 Change

Revenues 99 98 (1%)

EBITDA 0 5 1527%

EBITDA Margin 0.3% 5% 1549%

Physical Sales (GWh) 2,392 2,230 (7%)


Revenues 24 17 (27%)

EBITDA 13 8 (36%)

EBITDA Margin 53.4% 47.2% (12%)

Physical Sales (GWh) 673 574 (15%)

* Based on installed capacity


10

Lima:

• Edegel (Gx)

Ventanilla: 485 MW

Santa Rosa: 426 MW

55% Thermal

911 MW

Cuenca Río Rímac: 552 MW

Yanango: 43 MW

Chimay: 151 MW

45% Hydro

746 MW


Market Share*: 23%


EDEGEL

Peru


Revenues 149 138 (7%)

EBITDA 78.6 79.3 1%

EBITDA Margin 52.8% 57.5% 9%




11

Installed Capacity1: 5,571 MW

Market Share*: 30%

Total Generation1: 4,894 GWh

ENDESA CHILE

D. Almagro–Taltal

Bocamina Laja

Maule

Bio Bio

Tarapaca

Huasco

San Isidro

Los Molles

Cachapoal

Santiago

Los Molles: 18 MW

Rapel-Sauzal: 466 MW

Maule: 875 MW

Laja: 940 MW

Ralco-Pangue: 1,157 MW

62% Hydro

3,456 MW

36% Thermal

2,028 MW

Tarapaca 182 MW

D. Almagro–Taltal: 269 MW

Huasco: 64 MW

San Isidro 1 and 2: 778 MW

Bocamina 1 and 2 478 MW

TG Quintero: 257 MW

2% NCRE2

87 MW

Canela: 18 MW

Canela II: 60 MW

Ojos de Agua: 9MW

Chile

1 Excludes the proportional assets from GasAtacama (390 MW). 2 Non Conventional Renewable Energy.

•Based on installed capacity


Revenues 589 456 (23%)

EBITDA 110 122 10%




12

Guavio: 1,213 MW

Betania: 541 MW

Río Bogotá: 716 MW

85% Hydro

2,470 MW

15% Thermal

444 MW

Cartagena: 208 MW

Termozipa: 236 MW


Market Share*: 20%


EMGESA

Cartagena

Bogotá

Colombia


Revenues 286 324 13%

EBITDA 184 198 8%

EBITDA Margin 64.4% 61.2% (5%)

Physical Sales (GWh) 3,737 3,833 3%



13

Fortaleza: 322 MW Thermal

322 MW

Cachoeira: 665 MW Hydro

665 MW

Installed Capacity: 987 MW

Market Share*: 1%


CACHOEIRA

FORTALEZA

Fortaleza

Rio de Janeiro

Two 500 Km lines

Total interconnection capacity: 2,100 MW

CIEN1: Transmission

Brazil-Argentina Interconnection

Brazil

Cachoeira

1Includes CIEN, CTM and TESA



Revenues 71 68 (4%)

EBITDA 46 41 (10%)

EBITDA Margin 64.7% 60.7% (6%)

Physical Sales (GWh) 1,075 923 (14%)


Revenues 68 88 28%

EBITDA 27 25 (8%)

EBITDA Margin 39.4% 28.3% (28%)

Physical Sales (GWh) 707 804 14%


Revenues 40 36 (10%)

EBITDA 28 25 (8%)



El Quimbo

• Hydro power plant.

• Located in the Huila Department

• Utilizes stream coming from Magdalena River

• 400 MW of installed capacity

• Estimated load factor: 60%

• River detour in March 2012.

14

Projects Under Construction


15

Projects Under Construction

Salaco Chain (optimization)

• Repowering the minor plants to reach 260

MW power.

• Located in the Bogotá River system.

• Optimization works started on January

2013.

• 145 MW will be added to the capacity.


16

Projects Under Study

Renaico

• Wind farm

• Located in the Araucanía region

(SIC)


• Environmental Impact Statement

approved for the generation plants.


17


Los Cóndores

• Hydro power plant

• Located in San Clemente, in thr

Maule Region


• EIS approved.

Curibamba

• Hydro power plant

• Located in Junín Department,

utilizes streams coming from

Comas and Uchubamba Rivers


• EIS approved.


18


Punta Alcalde

• Thermal, Coal-steam power plant

• Located in Huasco, in the Atacama

Region (SIC)


• EIS approved by the Ministers

Committee on Dec 3, 2012

Neltume

• Hydro power plant, run of the river

• Located in Panguipulli, in Los Ríos

Region (SIC).

• 490 MW of installed capacity.


19


HidroAysén

• Hydro power plants located in Aysén Region

• 2,750 MW of installed capacity

• EIS approved for the generation plants (5)

• One of the most efficient hydroelectric projects in

the world, using renewable resources

• Average load factor: 77%

• Endesa Chile owns 51% and Colbún 49%

• CO2 emissions: Reduction of 16.2 million tons/year

312

144 134

81 81 75 69 65 54 54 53 45 4129 23 12 12 7

0

50

100

150

200

250

300

350

GW

h /

ye

ar-k

m2

Energy / Flooded Surface


20

Expected Evolution for Endesa Chile Installed Capacity

13,845 13,845 13,845 13,845

350 350 350

400 400

145 145 88

150

188

740

490

2011 2012 Under Construction On Basic Engineering

Percentage increase over installed capacity, year 2011 (13,845 MW)

Year 2011 Bocamina II Quimbo Salaco Renaico Los Condores Curibamba Punta Alcalde Neltume

3%

6%

18%


21

1.- Severe drought affecting Chile

Conclusions

5.- Lower result in Endesa Brasil

3.- Negative Tax effect in Chile and Colombia

4.- Lower consolidated energy generation due to Argentina, partially compensated for by higher thermal generation in Chile due to Bocamina II

and lower GNL price

2.- Good results in Colombia


22

“This document is the property of ENDESA and therefore must not be disseminated or published without ENDESA's prior written consent.

The content of this document is provided for information purposes only and therefore has no contractual substance and should not be used as part of or construed as a legal contract.

ENDESA does not assume any responsibility for the information contained in this document and does not offer any implicit or explicit guarantees of the impartiality, accuracy and completeness of

this information and the opinions and statements contained therein. It shall also not be liable for any loss or damages that could arise as a result of using this information.

ENDESA does not guarantee that the forward-looking statements in this document will apply in the future in the terms set forth. Neither ENDESA nor its subsidiaries intend to update such estimates, forecasts and objectives contained herein, except where required to do so by law”.

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endesa chile 1Q 2013 results - Home EnelEndesa Chile consolidated results 1Q 2013 6 Debt by Country Debt by Type Debt by Currency (MM US$) 1.Amounts expressed in US$, using the close