© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P © ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P Financial Results Third Quarter 2017 November 2, 2017
© 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
2
FINANCIALRESULTS 3Q17
AGENDA
➢ 3Q17 Financial Results
➢ Highlights
➢ Q&A
2
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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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
* Excluding construction, PERT and RBSE
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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FINANCIALRESULTS 3Q17
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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
* Excluding construction, PERT and RBSE
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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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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FINANCIALRESULTS 3Q17
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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.
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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