geb corporate presentation

Empresa de Energía de Bogotá - EEB

A Regional Leader in the Energy Sector

Disclaimer

The information provided herein is for informational and illustrative purposes

only and is not, and does not seek to be, a source of legal or financial advice

on any subject. This information does not constitute an offer of any sort and is

subject to change without notice.

EEB expressly disclaims any responsibility for actions taken or not taken based

on this information. EEB does not accept any responsibility for losses that

might result from the execution of the proposals or recommendations

presented. EEB is not responsible for any content that may originate with third

parties. EEB may have provided, or might provide in the future, information that

is inconsistent with the information herein presented.

2

Transportation and distribution of energy with involvement in other areas in the

energy sector.

EEB Strategy and Overview

Guatemala Colombia

Perú

68.1%

Natural Gas

25%

Transportation Distribution

Electricity

Transmission

Distribution

100%

51.5% *

16.2%

51%

82%

51.5% * 2.5%

Generation

Natural Gas

Transportation Distribution

60%

15.6%

40% 40%

1.8%

100%

Electricity

Transmission

75%

Eng & Services

Electricity

Transmission

100%

Eng & Services

98.4%

Focus on natural monopolies

Growth in controlled subsidiaries

Sound regulatory framework

Ample access to capital markets

Operations in countries with strong

growth potential

– Colombia: regional leader in

electricty and natural gas and a

center for energy exports

– Peru: regional leader in mining and

energy-intensive industries

– Guatemala: a window for future

investments in Central America

Exploration of opportunities in America

*EEB is not the controlling shareholder and is a party to signed shareholder agreements.

3

Leaders in every market

Electricity transmission

Market share (%)

(Km of 220-138 kV lines )


Market share (%)

(Km of lines)

Electricity distribution

Market share (%)

(Kwh)

Electricity generation

Market share (%)

(Generation)

# 1 Peru

# 2 Colombia

# 1 Colombia

# 2 Colombia

Gas distribution

Market share (%)

(No. clients) 59.0%

Gas transportation

Market share (%)

(Average volume transported) 85.0%

Gas distribution

Market share (%)

(No. clients)

100.0%

# 1 Colombia

# 1 Colombia

# 1 Perú

57.6%

8.0%

26.6%

20.9%


Project ongoing

(850 Km L/T and 24 S/E)

# 1 Guatemala

4

Focus on natural monopolies 5

Strong Presence in Relevant Countries

Natural Gas

*Reservations to 3T12 Source: ANH, MEM, UPME

8,5

7,1 6,6

7,1

2009 2010 2011 2012

Natural Gas Reserves - Colombia - Tcf

843

884

831

894

994

2009 2010 2011 2012 2015E

Natural Gas Demand - Colombia - MMCFD

26,0

23,1 21,5 21,5

2009 2010 2011 2012*

Natural Gas Reserves - Perú - Tcf

333

417 484

528

950

2009 2010 2011 2012 2015E

Natural Gas Demand - Perú -MMCFD

6

8,013 8,276 8,513 8,557

10,816

2009 2010 2011 2012 2015E

Electricity Demand - Guatemala - GWh

Source: ANH, MEM, UPME

Strong Presence in Relevant Countries

Electricity

54,679 56,148 57,157 59,36766,044

2009 2010 2011 2012 2015E

Electricity Demand - Colombia - GWh

27,00332,314

36,77940,940

52,312

2009 2010 2011 2012 2015E

Electricity Demand - Perú - GWh

7

Stable and Growing income*

* Total of Operating Revenues per company

Predictability and stability in regulated revenues. 81% of revenues comes from regulated business.

422,4 495,7

605,9

871,6 1.076,2

1.114,4

2008 2009 2010 2011 2012 2013

Natural Gas Distribution - USD mm

GAS NATURAL CÁLIDDA TOTAL

1.317,7 1.584,2

1.730,3 1.807,4 2.092,1 1.972,1

2008 2009 2010 2011 2012 2013

Electricity Distribution - USD mm

CODENSA DECSA EMSA TOTAL

136,2 152,4 162,1 181,5

207,3

288,9

2008 2009 2010 2011 2012 2013

Electricity Transmission - USD mm

REP CTM

279,6

365,2 401,9

439,1 536,4

578,1

2008 2009 2010 2011 2012 2013

Natural Gas Transportation - USD mm

TGI PROMIGAS TOTAL

8

Growth through controlled subsidiaries

9

Consolidated Financial Results – Evolution EBITDA

Normalized Dividends: *2010 excludes

dividends declared based on an early close

of Gas Natural’s, Emgesa’s and Codensa’s

financial statements. These figures are

included in 2011, when such dividends

would normally have been declared.**

Anticipated dividends declared by Codensa

on first half 2011, were included in 2012.

81%

67%56%

55%61%

44%45%

48%19%

33%

44%

45%

39%56%

55%

52%

2006 2007 2008 2009 2010 2011* 2012** 2013

Consolidadted Adjusted EBITDA & Normalized Dividends (USD Millon)

Dividends Operational EBITDA

240.9

471.3

416.4

515.6

586.4

818.5

921.7

705.0

EEB Transm, Trecsa & EEBIS Gt

3%

TGI 39%

Decsa/EEC 4%

Cálidda, Contugás & EEBIS

6%

Emgesa 22%

Codensa 15%

Gas Natural 3%

Promigás 3%

ISA, REP & CTM 4%

Otros 1%

EBITDA Consolidated Adjusted LTM 2013

Per subsidiary

10

Ambitious projects under execution

11

Consolidating the Strategy

CAPEX Executed 2013: USD 385.7 mm CAPEX Executed 2013: USD 661.4 mm

Natural Gas Transportation

• CAPEX Exec. 2013: USD 35.1 mm

• Construction: Sabana Station: 34%

• Planning: Regional Syst. (4Q 14)

Electricity Transmission

• CAPEX Exec 2013: USD 32.4 mm

• Total Investment: USD 308 mm

• Under Construction 4Q: • Armenia – 99%

• Alferez – 100%

• Tesalia – 77%

• Chivor II Norte – 16.9%

• SVC Tunal – 15.8%

Engineering and related services


• Sugarmills Investment: USD 44

mm

• Under construction

• Full operation 2014-15



• Total Investment: USD 376 mm

• Started operation (partially): 4Q13

• Under construction:4Q 13: 59.6%.

• Delivered 2015

Natural Gas Distribution


• Total investment: USD 500 mm

• By the end of 2016 it is expected to

have 455,000 customers

connected.

Natural Gas Transportation and

Distribution



• Under construction:4Q 13: 89%.

• Full operation 2Q 14

Electricity Generation


• Quimbo Project (400 MW)

• Total investment: USD 1.08 bn

• Exec 2013: USD 279 mm

• Accum. Exec: USD 564.8mm

• Execution 4Q-13: 57.3%

Electricity Distribution


• Projects executed 2013:

• New and existing demand

• Quality service and continuity

• Control operational risk



• Extensions and new concessions;

2013- 2014



• Extensions and new concessions;

2013 - 2014

Natural Gas Transportation and

Distribution



• Liquefaction Plant: Invest. USD

34 mm 3Q14

• Pipeline Mamonal – Sincelejo:

USD 70 mm

Controlled Subsidiaries Non-Controlled Subsidiaries

12

Natural Gas Distribution:

CAPEX Exec. 2013: USD 15.5 mm

Electricity Transmission:

CAPEX Exec. 2013: USD 31.8 mm

1.9

1.5 1.5 1.6 1.5

4.5

4Q 12 1Q 13 2Q 13 3Q 13 4Q 13

Net Debt / EBITDA Consolidated Adjusted

Net Debt / EBITDA Consolidated Adjusted OM <

8.8

12.912.4

9.1

11.1

2.5

4Q 12 1Q 13 2Q 13 3Q 13 4Q 13

EBITDA Consolidated Adjusted/ Interest

EBITDA Consolidated Adjusted / Interest OM >

Financial Plan 2013-2017 Investments & Funding Sources

2013 -2017 Funding Sources USD Millon

Cash Generation 1,937.5 Financial debt 3,278.6

Third Parties (Contributions of Capital) 10.0

Sources to be defined 2,320

TOTAL INVESTMENTS 7,546.1

Cash Generation

26%

Financial debt43%

Third Parties (Contributions of Capital)

0%

Other Non-financial sources

31%

Composition of Investments

M&A: 67%

Capex: 33%

13

Access to Capital Markets

14

Access to Capital Markets

Consolidated Debt Maturity Profile

USD Millions

GEB Transactions

USD Millions

USD 1,565 USD 1,542 USD 1,737 USD 1,869 USD 2,337

4,72% 3,43% 6,36% 2.7%

95,28% 96,57% 93,64% 97.3% 97.9%

2009 2010 2011 1S 2012 1S 2013

Consolidated Debt Composition - USD MM

Deuda Total %COP % USD

2013 2012

15

EEB Share Performance 2013

Ticker EEB:CB

As at Mar 18th, 2014 EEB’ market capitalization was USD 6,5 Billion

Trading volume tripled after the Equity Offering Nov 2011.

The stock is part of COLCAP, COL20, and COLEQTY

Average Target Price: COP 1,711 USD 0.84

16

Creating Value to shareholders

* Values for years prior to the 2011 dividend were adjusted to split 100:1 which enforced the

20.06.11 stocks. Shares outstanding from Nov. 11: 9,181,177,017

* In 4Q 10 there was an advance cut of financial statements, reason why during 1Q 11 EEB

decreed no dividends. 1Q 12 normalizes this effect.

97,7

353,8

571,0

157,1

390,6

437,8 327,3

91,8 142,6 368,0 109,0 228,3 306,5 203,4

94%

40%

64% 69%

58% 70%

62%

141%

40%

64%

105%

58% 70%

79%

0,0

100,0

200,0

300,0

400,0

500,0

600,0

0%

20%

40%

60%

80%

100%

120%

140%

160%

2008 2009 2010 2011 2012 2013 Avg 2008-2013

Evolution Dividend Payout Ratio (USD Mm)

Net Profit Dividends Dividend payout on last year profit Dividend payout + Including realeased reserves

0.025

17

Financial Highlights 18

Consolidated Financial Results

515,6

944,0

557,0

723,5

921,7

2009 2010 2011 2012 2013

Consolidated EBITDA (USD Millions)

353,8

571,0

157,1

390,6 437,8

2009 2010 2011 2012 2013

Net Income (USD Millions)

455,3 487,2

731,8

896,4

1.016,4

2009 2010 2011 2012 2013

Operating Revenues (USD Millions)

203,6

140,2

283,5

315,9 315,5

2009 2010 2011 2012 2013

Operating Profit (USD Millions)

19

Investor Relations

For more information about Grupo Energía de Bogotá contact our Investor Relations team:

http://www.eeb.com.co

http://www.grupoenergiadebogota.com/en/investors

Fabian Sánchez Aldana Investor Relations Advisor GEB

+57 (1) 3268000 – ext 1897 [email protected]

Antonio Angarita Investor Relations Officer GEB

+57 (1) 3268000 - ext 1546 [email protected]

Rafael Andres Salamanca Investor Relations Advisor GEB

+57 (1) 3268000 – ext 1675 [email protected]

Felipe Castilla Canales Chief Financial Officer - GEB +57 (1) 3268000 – ext 1501

[email protected]

20

http://www.tgi.com.co/





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