Corporate Presentation Organización Terpel S.A. March 2016
Organización Terpel, much more than fuel Service Station 1 st Fuel distributor 1 st 6 Countries in network in which Terpel in Colombia Colombia has presence 44% 2.115 Market Share* SS Fuel + VNG $529 $14 Consolidated 2,3 Consolidated Consolidated EBITDA Revenue Volume Dec. 2015 Dec. 2015 Dec. 2015 $COP Billion $COP Trillion Billion Gallons Terpel’s $1,5 Market AAA bonds risk Capitalization rating Dec. 2015 $COP Trillion Fitch Ratings (*) Source: Issuer’s calculation based on volume reported by Colombian Ministry of Treasury and Public Credit Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2015. 2
More than 47 years providing Colombia mobilization solutions 2nd Bonds Issuance. 1st Bonds Issuance, Terpel Centro, SIE and Proenergía merger, Terpel’s share listed in BVC. OT – Gazel merge, Entrance to Dom. Republic aviation market. 2015 COPEC acquires control. Merger of Terpel regional 2013 companies and Gazel acquisition. 2014 Petrolera Nacional and 2011 Repsol YPF Chile acquisition. 2012 Ecomex & Lutexsa acquisition 2010 Establishment of Organización Terpel (OT), Establishment of SIE. 2008 2009 Terpel regional companies foundation, 2007 1st lubricants factory, Entrance to aviation and marine sectors. 2004 2006 Terpel fundation 2000 2001 1972 1993 1968 3
Ownership structure Inversiones Palmato Morgan Radysade Glogo Wayco Int Valin Inv. Stanley 3,1% 2,7% 1,3% 2,4% 2,4% 2,7% 58,51% Otros CP- VAl Accionistas 4,65% 22,2% Inversiones Combustibles Organización Petrolera Organización Terpel Organización Gazel Perú Ecológicos Terpel Nacional S.A Terpel Chile Energía Terpel Chile S.A.C Mexicanos Republica S.A S.A.S (Panamá) S. A. S.A Dominicana 99% 99% 100% 82,2% 100% 100% 99% Transmarine Fuel Lutexsa S.A VonPort Orlyn S.A Transport Petroleum 99% 100% 100% 100% 100% Opese S.A.S Adesgae Cía Noliber S.A Ltda. 100% 99% 99% 4
COPEC one of the biggest companies in Chile, main investor and a long term player 5
Pillars of our corporate strategy We will be market leaders in 2017 , with a highly effective team , with the best brand position and known as the best company in terms of service , and social commitment with the country. Best infraestructure Best service Best price 6
Regional presence % Market Business No. No. Ranking Share* Lines 8 -- 1 62%** (VNG) -- 5 2 42% 116 -- 2 21% 40% COMB 2.115*** 20 1 46% VNG 78% Aviation 57 -- 5 6% 35**** -- 2 11% (*) Source: Terpel dic-15 (***) Market Share in Mexico City is 100% (****) 1992 liquid fuel SS (209 owned) and 290 VNG SS, (167 SS sale both liquid fuels and VNG) (****) 31 VNG SS, 9 liquid fuel SS y 12 LPG No. SS dic-14: Colombia-> 2089, Panama-> 109, Ecuador-> 56, Mexico-> 7, Peru-> 27 7
TERPEL IN COLOMBIA
Terpel remained as the leader company in the fuel distribution industry in Colombia TERPEL VOLUME GROWTH Vs. MARKET* TERPEL MARKET SHARE* 2015 liquid fuels volume sales GAZEL MARKET SHARE** GAZEL VOLUME GROWTH Vs. MARKET** 2015 VNG volume sales (*) Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2015. 9 (**) Source: Issuer’s calculations. Figures in equivalent gallons.
Service Stations (SS) Market leader with 46,1% in VNG* More than 180 SS were remodeled with new image. In total, 552 SS have the new brand image. Largest distribution network of liquid fuels and VNG in Colombia (2.115 SS**) Wide national coverage: operation in 30 Colombian regions. Conversion to VNG in exchange for consumption through a Financing Program. Pioneer in decentralized supply and centralized billing model through a chip offered in an interconnected network of about 442 liquid fuel SS and 281 VNG SS. It represents 73% of volume and 59% of CAPEX in Colombia. * Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2015. ** 1992 liquid fuel SS (209 owned) and 290 VNG SS, (167 SS sale both liquid fuels and VNG) 10
Suplementary Services A new model of convenience stores that offers a unique experience offering traditional local food products in each region. Wide portfolio of services: food, restrooms, Wi-Fi, playground and rest areas. 6 Ziclos: A modern, agile and innovative system of auto-car wash. 12 Deuna: Kiosks located close to the pump. This is a fast service provided through tablets where costumers can buy snacks and other products while pumping. A wide network of ATMs, flat tire service, Otros additives and other products that complement SSCC Terpel services. 11
Lubricants ICONTEC certified plant (ISO 9001, ISO 14001, ISO 18001, IQNET , ICONTEC) Accredited laboratory that complies with ISO/IEC 17025 (2005) international standards. Automotive lubricants with state-of-the-art technology and environmental benefits. Lubricants portfolio customized to each kind of vehicle that offers innovation and high technology to customers: Terpel Maxter, Terpel Oiltec y Terpel Celerity. Lubricants Plant certifications It represents 0,5% of volume and 5% of CAPEX in Colombia. 12
Industrial costumers Focus on mining, petroleum, transportation, construction and agro-industry industries. Fuel supply to industrial costumers through internal facilities. Wide portfolio of products and integrated services including programs focused on security and environmental impact prevention as well as optimization of custome’s operation. Fuel supply to approximately 414 costumers. It represents 9% of volume and 2% of CAPEX in Colombia. (*) Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2015. 13
Aviation Market leader with 78% market share*. Supply of JET A1 and Avgas in 20 Colombian airports . Principal supplier for El Dorado airport through Allied company as the operator. IATA (International Air Transportation Association) strategic partner, as a result of safe and reliable operations. Pioneer in Latin America with certifications in quality, security and environment. NORSOK S-006 Norwegian certification in industrial security, occupational health and environmental management. It represents 17% of volume and 5% of CAPEX in Colombia (*) Source: Issuer’s calculations based on Ecopetrol information. 14
Marine Colombian Seaports Terpel is participating in the supply of bunker fuels for large cargo vessels arriving to Colombian seaports. This is a growing market in which Terpel begun operations. At the end of 2015 it represented 0,5% of total volume. 15
Terpel is compromised with sustainable development Terpel is not only a shareholder’s asset, it is also an asset to all of its related interest groups since it recognizes the importance of growing all together in order to pursue a better future. SUSTAINABLE MANAGEMENT MODEL INITIATIVES / PROGRAMS / CERTIFICATIONS ISO certifications Signatories of the United Nations Global Pact Sustainability report according to GRI G4 in its «Core» version. Terpel training schools 16
Terpel’s senior management experience in the industry Sylvia Escovar President 13 years Kenneth Siefken Daniel Perea Marketing VP Corporate & Legal AffairsVP 14 years 10 years Tony Quintero Oscar Bravo Commercial VP: Fuels Corporate Finance VP 18 years 11 years Juan Pablo Giraldo Maria Mercedes Carrasquilla Lubricants VP Human & Administrative Resources VP 8 years 3 years José Carlos Barreto Operations & Logistics VP 9 years 17
Corporate Government structure Terpel’s Corporate Government is based on procedures that ensure an appropriate governability and it is also based on an ethical auto- GENERAL SHAREHOLDERS ASSEMBLY regulation. BOARD OF DIRECTORS 7 Members Lorenzo Gazmuri Schleyer Jorge Andueza Fouque Audit and Compensation Ramiro Méndez Urrutia Corporate and Benefits Governance Leonardo Ljubetic Garib Committee Committee José Oscar Jaramillo Botero Bernardo Dyner Rezonzew Jorge Bunster Betteley PRESIDENT Control bodies Internal Authorities Tax Auditor Auditor (SFC, SISoc.) 18
FINANCIAL INFORMATION
Consolidated operational results VOLUME SALES PERFORMANCE* VOLUME SALES BREAKDOWN Millon Galons PER COUNTRY 2015* EBITDA PERFORMANCE* EBITDA BREAKDOWN PER COUNTRY 2015* COP$ Billion (*) From 2013, figures include Peru results. 20
Regional value generation EBITDA Vs. VOLUME COP$ Billion Vs. Million Gallons 21
Expansion strategy has strengthen Terpel’s position in the Market CONSOLIDATED CAPEX Expansion and strengthening of the service stations network. $COP Billion Investments in upgrading service stations. Development of complementary services (non-oil business). Plants and airports overhaul and increase in storage capacity and vehicles conversion to VNG. CAPEX BREAKDOWN PER BUSINESS LINES CAPEX BREAKDOWN PER COUNTRY 22
Debt indicators DEBT/EBITDA PERFORMANCE EBITDA/INTERESTS PERFORMANCE 23
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