financial results third quarter 2017 - isafinancial results 3q17 3 financial results figures in cop...

© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P

Financial ResultsThird Quarter 2017November 2, 2017

© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P

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FINANCIALRESULTS 3Q17

AGENDA

➢ 3Q17 Financial Results

➢ Highlights

➢ Q&A

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Financial ResultsFigures in COP billions

3Q17

Operating Revenues

COP 1.858

EBITDA

COP 1.181Margin 64%

Margin excluding construction 70%

Net Income

COP 566Margin 30%

Margin excluding construction 33%

9M17

COP 5.482

COP 3.47563%

71%

COP 1.16921%

24%

CONSOLIDATED FIGURES

OPERATING

✓ Revenues from new projects in operation in Colombia and Peru.

FINANCIAL - BRAZIL

✓ PERT Adoption (Tax Regulation Special Program)

✓ ISA CTEEP:

✓ 2017/2018 cycle revenue adjustment

✓ Consolidation of 100% of IENNE

✓ Collection of first 2 installments RBSE

✓ Law 4819 complementary payments adjournment

✓ TAESA dividend payment



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RevenuesFigures in COP billions

3Q17

3Q17

QuarterOperation*: 26,5%Construction: -45,7%

9MOperation*: 18,4%Construction: -41,0%

VARIATIONS

✓New projects in operation in Colombia, Chile, and Peru

✓ Positive tariff adjustments in revenues from Brazil and Peru

✓RBSE Financial update

COP 7.109

COP 1.858

COP 10.272

COP 5.482

3Q16 3Q17 9M16 9M17

Colombia28,1%

Chile17,8%

Brazil39,7%

Peru13,1%

Others1,3%

* Excluding construction, PERT and RBSE



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Colombia44,3%

Chile15,0%

Brazil21,8%

Peru17,6%

Others1,3%

Operating costs and expensesFigures in COP billions

3Q17

3Q17

QuarterOperation*: 0,6%Construction: -45,5%

9MOperation*: -0,7%Construction: -40,6%

VARIATIONS


COP 928 COP 821

COP 2.815COP 2.447

3Q16 3Q17 9M16 9M17

Energy 69,8%

Roads13,1%

Telco12,4%

MRTS4,6%



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Figures in COP billions

EBITDA

3Q17

3Q17

EBITDA Margin

QuarterOperation*: 37,3%

9MOperation*: 27,9%

VARIATIONS

COP 6.342

COP 1.181

COP 7.917

COP 3.475

3Q16 3Q17 9M16 9M17

Colombia21,8%

Chile17,9%

Brazil44,1%

Peru14,8%

Others1,5%

Energy 79,0%

Roads17,6%

Telco2,4%

MRTS1,0%

53,4%

65,0%

68,5%73,9%

3 Q1 6 3 Q1 7

Excluding RBSE+PERT

Excluding construction, contributions, RBSE and PERT




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Financial expensesFigures in COP billions

3Q17

3Q17

QuarterExcluding PERT: -11,4%

9MExcluding PERT: -9,1%

VARIATIONS✓ Lower expenses in Colombia and Chile linked to the

macroeconomic variables.

✓ Lower revenues from exchange rate difference in Peru.

-COP 285 -COP 143

-COP 796-COP 614

3Q16 3Q17 9M16 9M17

Colombia

30,3%

Chile39,4%

Brazil

22,5%

Peru7,3%

Others0,5%

Energy 60,2%

Roads38,2%

Telco1,5%

* Excluding construction and PERT



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Net incomeFigures in COP billions

3Q17

3Q17

Net Margin

QuarterExcluding RBSE and PERT: 30,8%

9MExcluding RBSE and PERT: 31,9%

VARIATIONS

COP 1.575

COP 566

COP 1.965

COP 1.169

3Q16 3Q17 9M16 9M17

Net Income excluding RBSE + PERT RBSE+PERT

Colombia24,2%

Chile24,4%

Brazil36,1%

Peru12,6%

Others2,6%

14,7 17,1

3Q16 3Q17

Energy 73,1%

Roads25,0%

Telco0,8%

MRTS1,1%



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38.516

42.599

21.605 24.266

7.0487.711

9.864

10.622

2016 Sep.2017

Assets Liabilities Minority interest Equity

Balance SheetFigures in COP billions

Assets by business

Assets by country

+7.7%

+9.4%

1,3%

Colombia18,1%

Chile25,0%

Brazil42,1%

Peru14,3%

Others0,5%

Energy 78,3%

Roads19,2%

Telco2,1%

MRTS0,3%



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DEC. 2016 CHILE COLOMBIA BRAZIL PERU BOLIVIA ARGENTINA CONVERSIONEFFECT

SEP. 2017

DebtFigures in COP billion

By currencyBy source

From 3Q16 excludes RBSE recognition and PERT for 3Q17. Includes cash from RBSE

COP 1.902

COP 12.829COP 241

COP 641

COP 899 COP 136 COP 14 COP 2 COP 65 COP 14.795

UF+CLP30,1%

USD30,8%

COP22,2%

BRL17,0%

Capital Market59%

Banks41%

3,9 3,9 4,0 4,5

4,15

3,6 3,7 3,7 3,8

4,20

3 Q 1 6 4 Q 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7

Debt / EBITDA EBITDA / Interest



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CAPEXFigures in COP billionsAugust 2017

2017 – 2021 Investments COP 11.911 billion

Breakdown by country

%

Brazil 39.8%

Colombia 31.7%

Chile 17.6%

Peru 10.9%

Other 0.0%

Breakdown by business

%

Energy 87.7%

Telco. 7.8%

Roads 2.7%

MRTS 1.8%

3Q17 investmentsCOP 643 billion

COP 4.835

COP 2.856

COP 1.616 COP 1.828

COP 776

2017 2018 2019 2020 2021

Brazil Colombia Chile Peru Others

16,9%

31,4%31,6%

20,1%Brazil

Colombia

Chile

Peru



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Highlights

✓ Dow Jones Sustainability Index (DJSI) for the third consecutive year.

✓ ISA was included in FTSE4Good Index for complying with the ethical indexes of the stock market, as well as with the corporate responsibility global standards.

✓ The América Economía Journal selects ISA as the "Multi-Latin Company of the Year"

ISA will additionally invest USD 80 million to Andean Tower Partners to finance this company investment

plan.

IENNE stake acquisition

✓ ISA CTEEP holds 100% of this company✓ It will represent annual revenues for BRL41 million

ISA won a new energy transmission project in Peru

Mantaro-Nueva, Yanango-Carapongoand Nueva Yanango-Nueva Huánucotransmission lines and theircorresponding substations.

✓ ALAS20 2017: Empresa Líder en Relaciones con Inversionistas y Sostenibilidad



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Disclaimer

ISA has elaborated the following report for information purposes. The company is notresponsible for any investment decision made from this report. The statementsincluded therein reflect our current points of view in relation to future events; they arebased on assumptions and subject to risks and factors that may cause results,performance and achievements of the company to change at any moment. Thesefactors include general changes in the energy sector, financial conditions, governmentpolicies (national and international), as well as variations in interest rates, inflation,volatility in exchange rates, and levels of taxes.

As a result of these risks and factors, current results may differ materially fromestimates provided. The company does not accept responsibility for any change orinformation provided by official sources. The user is solely responsible for the use ofthis information.

© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P

www.isa.coINTERCONEXIÓNELÉCTRICA S.A E.S.P.NIT: 860.016.610 - 3

Calle 12 Sur 18 - 168 Medellín, ColombiaPhone: +57 4 3252270 | Fax: +57 4 3170848 A.A. 8915

Carrera 69 25B - 44, 10th floor, Bogotá, ColombiaPhone: +57 1 4165596 | Fax: +57 1 4165398A.A. 55063

Contacts• Carlos Alberto Rodríguez L.• CFO

• Gloria Cecilia Velásquez T.• Investor Relations

• [email protected]

mailto:[email protected]

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