Asesores Financieros 4Q17 Results Presentation| March 2018 Larrainvial 12 Annual Andean Conference Santiago
▪ Results 4Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
Corporate Presentation | Sigdo Koppers Company Overview Sigdo Koppers , Chilean conglomerate founded in Sales 1960. One of the most dynamic and important (US$ millions) 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. Consolidated EBITDA (US$ millions) Ingeniería y Enaex Enaex Magotteaux Magotteaux SK Comercial SK Comercial Construcción 60,62% 60,72% 97,75% 87,20% Net Profit Puerto (US$ millions) SK Godelius SKBergé Ventanas 286 50,01% 58,19% 40,00% 121 Source: Company Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of March 2017 ▪ 3 (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 Corporate Governance Board of Directors Ownership Structure 1. Juan Eduardo 2. Naoshi Matsumoto Errázuriz Ossa Takahashi Chairman Vicepresident 4. Juan Andrés Fontaine 3. Horacio Pavez Aro ▪ Talavera Daily Average vol. traded (1) : US$0.6 millions Director Director 5. Canio Corbo Lioi 6. Jaime Vargas Serrano ▪ Market Cap: US$2.2 billions (As of Feb 28th 2018) Independent Director Director 7. Norman Hansen Rosés Director ▪ 4 Source: Santiago Stock Exchange. (1) Last 12 month
Corporate Presentation | Investment approach Supplier of products and services for the mining ✓ Strategic Focus: Provide products and ✓ aprox. 75% of the SK’s Consolidated EBITDA comes from the exposure to the mining activities services for the mining and industry ✓ Involved in the main stages of the mining value chain 3 4 1 2 MINING ORE MINING OPERATION SALES & LOGISTICS DEVELPOMENT PROCESSING … + Anglo American - Minera Los Bronces: + + 1 2 3 4 + + + Codelco – Andina: 1 2 3 4 BHP Billiton - Minera Escondida: 5 + + 1 2 3
▪ Results 4Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
▪ Results 4Q17 Highlights - December 2017 ▪ Consolidated revenues amounted to US$2.20 billion, a similar Figures in ThUS$ level compared to Dic-16. Consolidated Income Statement Dic-16 Dic-17 Var. ✓ Magotteaux sales rose 6%, inline with a higher level 0,6% Sales 2.191.918 2.204.618 of physical sales (+4%). EBITDA (1) 291.018 285.930 -1,7% ✓ Lower sales at SK Comercial, mainly due to a EBITDA Margin 13,3% 13,0% decrease in Chile and Perú. EBITDA Pro Forma (2) 336.471 318.038 -5,5% ▪ Consolidated EBITDA amounted to US$286 millions (-2%) Profit (Loss) 125.764 127.081 1,0% ✓ Higher level of EBITDA in Puerto Ventanas by Sigdo Koppers Net Profit (non greater transfer of cargo. 85.009 83.386 -1,9% recurrent) ▪ Net profit totaled US$83 millions (-2%), a decrease explained by: Dec-16 Dic-17 Var. ✓ Lower performance of the Engineering and Total Assets 3.546.436 3.628.916 Construction business due to the low level of activity 2,3% Total Equity (3) and lower yields than expected in some works 1.680.342 1.767.172 5,2% ✓ The negative impact of the increase in raw materials Net Debt 811.317 750.573 -7,5% (ferrochrome and scrap) in Magotteaux Net Debt / EBITDA 2,79 2,62 ✓ Lower level of sales in the machinery distribution ROE 255,41% 254,37% business in Chile. ROCE 6,70% 6,26% ▪ Sigdo Koppers is executing plans of reorganization and cost efficiency in its different subsidiaries ▪ Sigdo Koppers has a good consolidated Cash liquidity of US$311 millions and a conservative level of consolidated debt ▪ The net financial debt-to-EBITDA ratio is 2.62x and if we add consortiums net profit is 2.54x (1) EBITDA = Ganancia Bruta + Otros Ingresos por Función – Costos de Distribución - Gastos de Administración – Otros Gastos por Función + Gastos de Depreciación y Amortización (3) EBITDA Pro-forma: considera las utilidades de empresas relacionadas que no consolidan. 7
▪ Results 4Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
▪ Resultados Dic-16 Results 4Q17 Main Subsidaries 60,43% 60,72% 40,0% 87,2% 97,75% 50,01% ▪ … 51,82% VENTA DESARROLLO OPERACIÓN PROCESO ▪ Y LOGÍSTICA 53 años de Puerto de Carga a Producción de Venta, Arriendo y Producción de Comercialización de experiencia en más granel y combustible. Nitrato de Amonio y Servicio de Bolas de Molienda automóviles de 300 proyectos Servicios de Maquinaria de Dueña de 52% Fepasa y Piezas de de gran Tronadura prestigiosas marcas (tpte. ferroviario) desgaste (casting) envergadura (Presencia en Chile y (Presencia en Chile, Perú (Presencia en Chile, Perú Perú) (Presencia en 11 países) Brasil y Colombia) Argentina y Colombia) Cadena de valor de la minería e industria 9
▪ Resultados Dic-16 Results 4Q17 Ingeniería y Construcción SK Ingeniería y Construcción Sigdo Dic-16 Dic-17 Var. 4Q16 4Q17 Var. Koppers MM$ MM$ % MM$ MM$ % Revenue 308.230 290.598 -5,7% 73.995 70.055 -5,3% EBITDA -260 10.100 3988,8% 2.554 11.051 332,7% EBITDA Margin -0,1% 3,5% 3,5% 15,8% Pro-Forma EBITDA(*) 15.389 13.754 -10,6% 5.247 10.859 106,9% Pro-Forma EBITDA Margin 5,0% 4,7% 7,1% 15,5% Controller's net profit 8.592 5.103 -40,6% 1.627 6.379 292,0% Horas Horas Horas Horas Var. Var. (Miles) (Miles) (Miles) (Miles) Total man-hours executed 17.346 18.252 5,2% 4.969 6.077 22,3% (*) Pro-Forma EBITDA: EBITDA + Related company profit ▪ Lower level of investments in Chile and Peru evidenced in recent years has affected the performance of the company ▪ Sale of fixed assets with profit of $ 5,051 million ▪ ICSK Brasil ➢ Construction of electric transmission lines in Brazil for State Grid through a consortium with Alumini and Fujian has already started. ▪ Backlog ➢ Projects awarded for US$519 million (Jan-Dec-2017): Main transportation system in Chuquicamata subterráneo (Codelco), transfer project in Codelco Andina (Codelco), modification of tailings thickeners (Minera Escondida), Talara refinery modernization project ( PetroPerú), refurbishment of ball mills (Collahuasi) and the disassembly and assembly of transformers (Minera Escondida) ➢ Main projects in progress: Repowering of ball mills / Collahuasi (70% advance), Projects Vulnerability of Gases in Cellulose Plants / Arauco (95% advance) and tunnels dress Chuquicamata subterráneo / Codelco (95% advance) 10
▪ Resultados Dic-16 Results 4Q17 Puerto Ventanas Dic-16 Dic-17 Var. 4Q16 4Q17 Var. Puerto Ventanas Consolidated ThUS$ ThUS$ % ThUS$ ThUS$ % Revenue 132.398 136.773 3,3% 35.080 35.356 0,8% EBITDA 34.222 40.403 18,1% 9.416 10.167 8,0% EBITDA Margin 25,8% 29,5% 26,8% 28,8% Controller's net profit 19.457 20.063 3,1% 5.041 4.636 -8,0% PVSA - Tons transferred 5.216.118 5.412.814 3,8% 1.394.214 1.253.773 -10,1% Fepasa - Th Ton-Km 1.138.959 948.597 -16,7% 251.818 231.881 -7,9% Fepasa Puerto Ventanas ▪ Cargo Transfer (+4%) ▪ Mobilized load ➢ Cargo movement of Cu Concentrate (+33%) due to ➢ Higher Cooper Concentrate transfers (+3%) and grain new contract with Codelco Teniente. (+99%). ➢ Movement of wood pulp cargo (-26%), impacted ▪ Port business income reach US$65 million by the collapse of the Toltén bridge on August 18, (+12%) 2016 (lower volumes and over costs). This situation will continue until the repair of the ▪ Investments bridge by EFE. ➢ Higher ➢ New warehouse for Cu Concentrate up and running. EBITDA (+81%) due to a significant decrease in direct operational costs ➢ Upgrade Site No.3: Ramp up period ➢ Start in cargo transfer from Anglo American by rail, transport of the copper concentrate from the Las Tórtolas plant (Los Andes) to Puerto Ventanas. 11
▪ Resultados Dic-16 Results 4Q17 Enaex Dic-16 Dic-17 Var. 4Q16 4Q17 Var. Enaex ThUS$ ThUS$ % ThUS$ ThUS$ % Revenue 691.731 705.173 1,9% 174.979 191.445 9,4% EBITDA 165.259 164.373 -0,5% 44.567 44.132 -1,0% EBITDA Margin 23,9% 23,3% 25,5% 23,1% Controller's net profit 85.337 80.184 23.711 21.474 -6,0% -9,4% ▪ Chemical business (Amonium Nitrate) ➢ Lower AN sales associated with lower consumption in Chile, together with lower consumption of certain deposits in the region and decreases in the Peruvian market. ➢ AN exports dropped by 2%. ▪ Rock Blasting Services ➢ Chile: more complex scenario with lower volumes in some clients (-13% v/s 4Q16). ➢ Brazil / Britanite: Slight economic recovery in Brazil and new awarded Physical sales evolution (Thu Tons) contracts, particularly in mining, has increased sales volume (+23%) and EBITDA (+141%). ▪ Davey Bickford: ➢ Higher revenues (+12%) explained mainly by a recovery in the American and Australian market. ➢ Growth in EBITDA (+ 103%) in line with higher revenues and greater operational efficiency 12
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