XV Andean Conference 2017 - UNACEM
XV Andean Conference 2017 September 27th – 28th Westin Hotel Lima - Peru Atocongo Plant, Lima
UNACEM S.A.A. Agenda 1.Overview 2.UNACEM Peru 3.Unicon and Concremax 4.Celepsa 5.Skanon / Drake 6.UNACEM Ecuador 7.Preansa 8.Consolidated Financial Highlights Appendix
1. Overview
1.Overview UNACEM at a glance Inversiones JRPR S.A. 60.94% Nuevas Inversiones S.A. 54.44% 57.80% Sindicato de Inversiones y Administración S.A. Inversiones Andino S.A. 43.40% AFP’s 24.30% 20.49% Cement 11.81% Concrete Perú – Chile - Colombia Free float Energy GEA UNACEM S.A.A. is listed in the Lima Stock Exchange (BVL) with a Market Cap of USD 1,369 million, as of September 26th, 2017. FX Rate: PEN 3.2738 4
1.Solid macroeconomic fundamentals Latam GDP Growth Peru Real GDP and Inflation (Annual variation %) (PEN Bn and %) 3.9% 670 3.3% 3.1% 2.6% 2.3% 2.0% 1.7% 2.6% 2.1% Ecuador 649 603 662 10.0% 9.0% 8.0% 1.6% 0.3% Colombia 547 508 570 579 470 7.0% 6.0% 370 Peru Chile Mexico Brazil USA 270 3.4% 3.7% 4.1% 3.3% 2.8% 5.0% 3.2% 4.0% 3.0% 170 2.0% -2.3% 70 1.0% 2015 2016 -3.8% -3.4% -30 2012 2013 2014 2015 Real GDP * Forecast GDP except Peru and USA 2016 2017E 0.0% Inflation * Peru Real GDP and Inflation (YoY) – 2017E Apoyo Consultoria Peruvian Infrastructure Gap Peru Construction GDP vs. Cement Dispatches (Growth %) (as % GDP) 15.8% 15.2% Construction GDP Peruvian Cement Dispatches 9.0% 8.9% 9.1% 8.9% 8.6% 8.4% Average 8.3% 8.2% 3.6%3.9% 8.1% 8.1% 8.0% 1.3% 0.8% 7.8% 7.7% -2.9% -3.7% -3.4% -5.6% -5.3% -5.9% 2011 2012 2013 2014 * Peru Construction GDP and Cement Dispatches LTM1H17 Sources: INEI, ASOCEM, Apoyo, AFIN, Central Banks . 2015 2016 LTM1H17 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5
1. Peruvian new government measures seek to reduce infrastructure gap and housing deficit in the following 5 years Infrastructure Gap Housing Deficit Current status: Total infrastructure gap is USD 159.6 billion 8.27% of GDP annual investment needed to close the gap in the following 10 years Water and sanitation gap is USD 12.5 billion Estimated benefits of closing the gap represent around 14.3% of GDP and will represent 14.25% of the labour force Current status: Housing deficit in Peru: 72% of total families (Ficem 2013) Peru’s unsatisfied housing demand: 700,000 houses Lima and Callao unsatisfied housing demand: 435,000 houses 53% of demand in Lima and Callao for housing between USD 30,000 and USD 80,000 Law 30425: Pension fund affiliates may withdraw 25% of their funds to repay mortgage or for the down payment of a 1st property 112 legislative decrees to eliminate bureaucracy and unlock projects Government goals: Infrastructure investment up to USD 79 billion 100% of water in urban areas by 2021 Paving 100% of the National Road Network Reform of the public - private investment process Megaprojects are a top priority, 15 projects declared in Emergency in order to accelerate it’s execution Government goals: Mivivienda and Techo Propio programs will work as a unit, redirecting financing to houses under USD 40,000 Promote access to formal credit to families High investment in social infrastructure will reduce its gap by 50% in the next 5 years 6 Sources: AFIN, PCM, CAPECO
1. Unacem is ready to take advantage of the Megaprojects that will be executed in its area of influence 84% of total infrastructure projects already auctioned on UNACEM’s area of influence USD 29.6 billion investment to be auctioned in 2017 and 2018 in our area of influence More than USD 1.2 billion auctioned in 2016 7 Sources: PPK Goverment Plan , APOYO
A great pipeline of granted projects that will boost growth TRANSPORTATION INFRASTRUCTURE LINE 2 – METRO OF LIMA Metro de Lima - Línea 2 USD 5,658 MM Jorge Chavez Airport Expansion USD 800 MM Muelle Norte - Etapas 1 y 2 - Callao Port USD 370 MM San Martín Port USD 182 MM Mineral Terminal - Callao Port USD 150 MM Pisco Airport Expansion USD 107 MM TOTAL USD 1,609 MM ROADS Vía Parque Rímac USD 750 MM Rutas Nuevas de Lima USD 590 MM IIRSA Centro - Tramo II USD 126 MM WATER AND SANITATION Water and Sanitation in Lima USD 166 MM (Sedapal) Amp. Red Vial 5 USD 100 MM Improvement the facilities of the health services in Pichanaki Hospital, Junín Vía Expresa Sur USD 200 MM TOTAL Amp. Red Vial 6 USD 200 MM TOTAL Source: APOYO USD 2,866 MM USD 79 MM USD 245 MM PAN AMERICAN GAMES – LIMA 2019 2019 Pan American Games USD 1,260 MM 8
Government's reconstruction after coastal Niño and a robust private mining pipeline should drive a boost in our results MINING PROJECTS ANNOUNCED RECONSTRUCTION PLAN On April 25th , the Congress approved the “Reconstruction Law”, creating an entity name “Autoridad para la Reconstrucción con Cambios” and appointing Pablo de la Flor as the Executive Director who will lead the re construction work needs, Congress approved also a budget of USD 6,400 million. Coastal El Niño damages includes 200,000 people severely affected of a total of more than 1 million. Infrastructure damages includes: Destroyed Affected Houses 45,772 210,457 Roads 3,774 12,209 Project Anglo American Quellaveco – Moquegua 5,000 Minsur Justa Mine - Ica 1,400 Chinalco Toromocho expansion - Junín 1,300 Zafranal Zafranal - Arequipa 1,160 ProInversión Michiquillay - Cajamarca 1,000 Focus Ventures Bayovar 12 - Piura 805 Southern Copper Ilo refinery expansion Moquegua 800 Shougang Hierro Perú Beneficio plant - Ica 500 Southern Copper Cuajone expansion - Moquegua 500 Buenaventura Rural Roads Bridges Lima: 140 bridges destroyed 5,690 52,483 390 569 Investment in USD Company Hudbay Minerals Minsur Minsur Minsur Minsur TOTAL Lima: 4,943 roads affected Quecher main warehouse Cajamarca Pampacanca San Rafael Marcobre Project Pucamarca Expansion Bodefal 2 project 300 54 40 30 25 12 13,469 More than USD 3.2 billion of investment in mining projects in our area 9 Source: COEN,INDECI, BRCP
Government's Reconstruction with Changes after coastal Niño should drive a boost in our results Reconstruction with changes 1 PIURA: PEN 7,541 MM Budget of PEN 25,655 million Preventive works PEN 5,446 2% Strengthening institutional capabilities PEN 450 LA LIBERTAD: PEN 4,286 MM ANCASH LIMA: PEN 5,696 MM Investment on damaged infrastructure by Sector Invesments Sector Interventions (PEN MM) 21% 77% 3.89% of PERU’s GDP 3 2 Works on damaged infrastructure PEN 19,759 Total % Transports - National Roads Highways 2,638 km - Local roads Highaways and roads 7,095 km - Local Roads – Bridges 192 bridges 9,760 49.4% 4,333 21.9% 4,504 20.4% 923 4.7% Housing 45,613 housing 1,114 5.6% Education 1,444 shools 2,671 13.5% Sanitation Water and sewage networks 2,041 10.3% Health 154 hospitals, health posts and health centers 1,343 6.8% Agriculture and irrigation 224 intakes, 608 km of canals, 269 km of drains 1,344 6.8% Roads and sidewalks 811 km de psitas y veredas, y 161 puentes urbanos Total 1,483 19,759 7.5% 100% Source: Autoridad para la Reconstrucción con Cambios 10
Government's Reconstruction with changes after coastal Niño should drive a boost in our results Reconstruction with changes in UNACEM’s area of influence Reconstruction represents an important potential for dispatches of cement, ready mix and industrialized concrete structures for UNACEM and its subsidiaries in the coming years . 28.6% of the reconstruction budget is allocated in UNACEM’s area of influence Budget allocated by relevant region (PEN MM) Budget allocated for Reconstruction Works Central region (PEN MM) 3,516 195 Housing 3% Sanitation 8% 2,180 Health 9% 332 3,321 1,848 729 258 Ancash Lima 491 48 375 50 51 471 48 - 441 324 Ica Junín Huancavelica Ayacucho Reconstruction Education 11% Transport 55% Roads and sidewalks 8% Agriculture 6% Preventive September 12, 2017: Reconstruction Plan was aproved December 17: First projects awarded December 17 – June 17: Studies April 18: execution Source: Autoridad para la Reconstrucción con Cambios / Apoyo Consultoria Central region: Lima, Ancash, Ica, Junín, Huancavelica, Ayacucho In Lima Roads Rural Roads Bridges PEN 735MM PEN 74MM PEN 76MM PEN 885 MM will be executed in transports works 11
Panamerican Games works will be executed in the next 22 months in Lima, important volume and a short term Panamerican Games Lima 2019 In charge of the UK Government and with a special normative framework that allows the urban habilitation and permission of construction as an automatic way July 26 Opening Ceremony of the Panamerican Games Main projects to be auctioned during 2017 Project Beginig of the tendering process for the Panamerican Village construction Execution of works Studies Construction of the Panamerican Village September 2017 Expansion and improvement of La Videna Center November 2017 Improvement of Andrés Avelino Cáceres sports center November 2017 Improvement of Yahuahuaca Park November 2017 Construction of the gymnastic center November 2017 Improvement ot the Army’s Riding School November 2017 (Villa El Salvador) (San Luis) Tender process J A S O N D 2017 J F M A M J J A S O N D 2018 J F M A M J J (Villa María del Triunfo) 2019 On September 4th, BESCO – Besalco was awarded the construction of the Village PEN 313 MM (Callao) (San Juan de Miraflores) Estimated investment to be granted in 2017: PEN 1,620 million Source: APOYO Consultoría / COPAL Date (San Juan de Miraflores) 12
Important mining investments in the following years On the public and private side in the following two years an important pipeline of projects would start its tendering process MAJOR PUBLIC PROJECTS FOR TENDERING (USD MM) MAIN MINING PROJECTS ANNOUNCED (USD MM) Mina Justa Ica USD 1,400 MM Michiquillay Cajamarca USD 1,000 MM Shougang Benefit plant Ica USD 500 MM Toromocho Expansion Junín USD 1,300 MM Zafranal Arequipa USD 1,160 MM Bayovar 12 Piura USD 805 MM Refinería Southern Ilo USD 800 MM Cuajone Expansion Moquegua USD 500 MM Quecher Buenaventura Cajamarca USD 300 Quellaveco Moquegua USD 5,000 Water and sewerage expansion in SJL – USD 29 MM Creation of Comuneros bridge - Junín: USD 44 MM Drinking water and sewage system for San Juan De Amancaes – Rímac – USD 29 Ica’s penitentiary establishment– USD 119 MM Ambo – Oyón highway USD 110 MM Railway Huancayo – Huancavelica USD 204 Main Conduct Works for the Supply of Drinking Water to LimaUSD 600 MM RETAIL La Molina Lifestyle Center INAUGURATES 2018 Lifestyle La Molina INAUGURATES 2018 Plaza Center VES INAUGURATES 2018 More than USD 3,200 million of mining projects announced UNACEM’s area of influence Source: BCRP / APOYO Consultoría Real Plaza Este - Puruchuco CONSTRUCTION BEGINS 2018 13
2. UNACEM Peru Condorcocha Plant, Tarma (3,950 m.a.s.l)
2. UNACEM Peru Overview Cement Plants On October 1st, 2012, UNACEM absorbed Cemento Andino to consolidate the largest cement company in Peru UNACEM has subsidiaries that provide power supply, raw materials supply, distribution channels and warehouse storage of UNACEM’s products The Company has two cement plants, Atocongo and Condorcocha, which operate in the central region of the country where most of the population lives The Atocongo plant has an underground conveyor belt which leads directly to the Conchan Pier (port) in the Pacific Ocean, facilitating cement exports and raw material imports Both plants have their own power generation through two hydro power plants and one thermo power plant that provide a significant source of energy Atocongo Location: Lima Location: Junín Clinker Capacity: 4.8 million MT Clinker Capacity: 1.9 million MT Cement Capacity: 5.5 million MT Cement Capacity: 2.8 million MT Clinker Production(2016): 3.6 million MT Clinker Production(2016): 1.2 million MT Cement Production(2016): 3.4 million MT Cement Production(2016): 1.7 million MT Limestone Reserves: 35 years Limestone Reserves: 157 years Distribution and Services Financial Snapshot (USD MM) 2016 LTM 1H17 Progre-Sol Commercialization Total Assets 2,544 2,636 Revenues 553 559 EBITDA 273 288 EBITDA Margin 50% 52% Local Ratings Source: Company filings. Class: AAA APOYO: AA Condorcocha Hardware store with over 400 points of sale Hatun-Sol Financing and Advising Product financing and advising families on building techniques Duravía Solutions for road paving Supplies more than 7,200 independent hardware stores in the country Advices and provides financing to families and independent builders to finance cement and other construction products New service that offers efficient road paving techniques Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 15
UNACEM is the market leader of cement in Peru Loreto La Libertad / Piura / San Martín Market Share: 20.5% Lima / Junín 2 La Libertad Market Share: 47.8% Lima Market Share: 4.7% Lima Market Share: 3.3% Arequipa Arequipa Market Share: 20.7% Lima Market Share: 3.1% Arequipa Source: Asocem, INEI, SUNAT Tacna 16
2. Consistently delivering strong financial results Separate financial performance Revenues EBITDA and EBITDA Margin (USD Millions) (USD Millions and %) 310 298 EBITDA EBITDA Margin 300 99.9% 657 288 663 290 611 553 559 275 280 79.9% 273 270 59.9% 260 251 48.7% 250 38.2% 49.4% 51.6% 39.9% 41.5% 240 19.9% 230 220 2013 2014 2015 2016 LTM1H17 -0.1% 2013 2014 Net Income & Net Margin Net Margin 30.0% 1,280 105 102 LTM1H17 (USD Millions) Net Income 110 2016 Net Debt (USD Millions and %) 130 2015 1,169 25.0% 94 1,133 1,049 90 76 20.0% 760 70 15.0% 15.4% 50 30 2013 Source: Company filings. 17.0% 12.5% 11.5% 6.7% 10 -10 41 2014 10.0% 5.0% 2013 2014 2015 2016 1H17 2015 2016 LTM1H17 Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 0.0% 17
3. Unicon & Concremax
3. UNICON & CONCREMAX Concrete Segment Overview UNACEM’s concrete segment consists of two companies Unión de Concreteras S.A. (UNICON) and CONCREMAX S.A.(former Firth), forming the largest concrete group in Peru UNICON was founded in May 1996 In 2011, UNICON acquired 100% of Market Positioning UNICON and CONCREMAX have 61.0% of market share (71% in the relevant area) in the concrete segment (2015) Firth shares. On November 2015, Firth changed its legal name and brand to CONCREMAX. UNICON & CONCREMAX provided a variety of services such as: Commercial strategy Commercial strategy ready-mixed concrete, concrete for mining, concrete for paving, pumping services, girders and concrete sleepers and aggregates Specialized in megaprojects and large constructions Financial Snapshot – LTM 1H17 (USD MM) Total Assets 224 Revenue 258 Specialized in small to medium projects and constructions Assets and Capacity Installed Capacity 9.2 (million m3 per year) Concrete Plants 58 Facilities in Lima 13 EBITDA 30 Facilities in the rest of Peru 22 EBITDA Margin 12% Mixer Trucks 519 Source: Unicon. Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 19
3. Positioned to deliver strong cash flows Revenues EBITDA and EBITDA Margin (USD Millions) 364 (USD Millions and %) 60 370 EBITDA 53 EBITDA Margin 50 305 50 250 40 258 40 30 14.3% 30 13.6% 30 13.2% 20 11.9% 11.5% 10 - 2013 2014 2015 2016 LTM1H17 9.0% 2013 2014 Net Income & Net Margin 2016 LTM1H17 Net Debt (USD Millions and %) 40 2015 (USD Millions) 35 Net Income 31 Net Margin 53 13. 0% 46 30 10. 0% 25 20 18 8.3% 15 7.0 % 13 20 8 10 4.9% 8 4.0 % 4.1% 5 3.2% 2 3.1% - -0 1.0 % 2013 Source: Unicon. 2014 2015 2016 LTM1H17 2013 2014 2015 2016 1H17 Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 20
4. Celepsa
4. Celepsa Company description The company’s main customer is UNACEM (29% of total sales), though it has a portfolio of 13 additional customers The company’s assets are the hydroelectric plant “El Platanal” which generates 220 MW and Hidro Marañon (18 MW) currently under construction In November 2014, Celepsa acquired Hidro Eléctrica Marañon S.R.L., a 18 MW with a 88 MW PPA. The hydroelectric power plant started operations in 1S17 CELEPSA’s strategy is to develop a balanced, efficient and competitive portfolio of electricity generation 100% of the production is sold through PPAs Hydroelectric Power Plant El Platanal Location: Lima Location : Huánuco Generation Capacity: 220 MW Generation Capacity: 18 MW Financial Snapshot – LTM 1H17 (USD MM) Total Assets 367 Revenue 98 EBITDA 31 EBITDA Margin 32% Source: Celepsa. Hidro Marañon Company structure 90% 50% 10% 99% 99% Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 22
4. Keeping its competitiveness in the energy sector Revenues EBITDA and EBITDA Margin (USD Millions) (USD Millions and %) 104 EBITDA 45 102 41 40 105.0% 38 33 35 98 85.0% 30 31 30 97 96 EBITDA Margin 65.0% 25 45.0% 20 15 40.7% 39.4% 34.3% 28.9% 31.5% 25.0% 10 5.0% 5 0 2013 2014 2015 2016 LTM1H17 -15.0% 2013 2014 Net Income & Net Margin 2015 LTM1H17 Net Debt (UDS Millions and %) (USD Millions) 10 124 48. 0% 117 9 Net Income 8 2016 106 Net Margin 38. 0% 117 99 6 7 6 28. 0% 5 4 18. 0% 3 1 6.4% 2 0.7% 1 1 1 2 1.0% 1.8% 2016 LTM1H17 8.0 % 0.5% 0 -2.0% 2013 Source: Celepsa. 2014 2015 2013 2014 2015 2016 1H17 Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 23
5. Skanon / Drake
5. Skanon / Drake Company Description Drake UNACEM’s start up subsidiary located in Arizona, USA, with state-of-the-art facilities There are six main competitors in the market in Arizona. Drake holds the 3rd largest market share. UNACEM took advantage of the low prices during the crisis to build Drake Cement Drake has a strong growth potential as the United States recovers from the crisis Products and Brands The company’s mission is to be recognized as the leading and most respected provider of construction materials Financial Overview – LTM 1H17 (USD MM) Total Assets 451 Revenue 88 EBITDA -3 ASTM C 150 Type II/V (LA) Clinker Type II/V Special cement ABC (Aggregate Base Course) Crushed rock Concrete and mortar sand Recycled concrete and asphalt Business Strategic Plan Strategic Alliances & Partnerships Vertical Integration Core Values Vision EBITDA Margin -3% 25 Source: Skanon.
5. Recovering US operations Revenues EBITDA and EBITDA Margin (USD Millions) 83 83 (USD Millions and %) 84 2013 69 2013 2014 2015 2016 EBITDA 88 LTM1H17 0 -1 -2 -3 -4 -5 -6 -7 -8 -9 2014 2015 -6.6% -9.3% -10.5% -5.0% -5.4% -10.0% -3 -15.0% -20.0% -5 -25.0% -5 -30.0% -7 -35.0% -8 -40.0% Net Debt (USD Millions) 2016 LTM1H17 131 119 -23 LTM1H17 -2.9% (UDS Millions) 2014 EBITDA Margin 2016 0.0 % Net Income 2013 2015 139 133 113 -25 -28 -38 Source: Skanon. -36 2013 2014 2015 2016 1H17 26
6. UNACEM Ecuador
6. UNACEM Ecuador Company Description Operations Otavalo UNACEM Ecuador was acquired during 2014, consolidating and closing the transaction by mid November 2014 with all regulatory permits 2 Lines: 1 Kiln SPH and 1 Kiln AS precalciner The Company has the widest product portfolio in the market, tailored for Location: Imbabura (100km North of Quito) the construction sector Clinker Capacity: 1.0 million MT UNACEM Ecuador is a fully integrated company with high performance Cement Capacity: 1.5 million MT assets Production (2016): 1.2 million MT UNACEM Ecuador has a prime logistical operation with 100% bags delivered door-to-door Excellence in stakeholder relationship The plant is currently operating at 80% capacity Financial Overview – LTM 1H17 (USD MM) Total Assets Ownership structure 210 100% Inversiones Revenue Imbabura S.A. 153 98.57% EBITDA EBITDA Margin Source: UNACEM Ecuador. 65 99.99% 99.99% Cantyvol S.A. Lafarge Servicios Generales S.A. 43% 28
6. Delivering solid margins Revenues EBITDA and EBITDA Margin (USD Millions) 186 (USD Millions and %) 187 EBITDA 177 90 78 80 80 EBITDA Margin 65.0% 75 66 70 152 153 55.0% 65 45.0% 60 42.1% 50 42.8% 42.4% 43.4% 42.8% 40 35.0% 25.0% 30 15.0% 20 5.0% 10 0 2013 2014 2015 2016 LTM1H17 -5.0% 2013 2014 Net Income & Net Margin 45 45 Net Margin 27.0% 38 40 LTM1H17 (USD Millions) Net Income 43 2016 Net Debt (USD Millions and %) 50 2015 35 29 25 37 25.0% 20 35 18 30 24.1% 24.4% 25 23.0% 23.0% 12 23.0% 20 21.0% 15 21.3% 10 19.0% 5 17.0% 0 2013 Source: UNACEM Ecuador. 2014 2015 2016 LTM1H17 2013 2014 2015 2016 1H17 29
7. Preansa
7. PREANSA Peru & Chile Company Description Production Capacity Prefabricados Andinos Perú S.A.C. (PREANSA Perú) is a subsidiary of UNACEM which mainly produces prestressed industrialized concrete structures Peru Chile Pillars 90 m/day Pillars 60 m/day Industrial Belts 400 m/day Industrial Belts 300 m/day Prestressed light beams 120 m/day Prestressed heavy beams 60 m/day Mezzanine Elements 300 m/day Wall panel 80 m/day The business has a strong growth potential and already has tripled sales in the past 3 years PREANSA Peru was founded in 2007 with UNACEM holding 50% of ownership Prestressed light beams 100 m/day In January 2014, UNACEM acquired 51% of ownership of Preansa Chile. An it is starting to develop a plant in Colombia that started operations in July 2016. Prestressed heavy beams 220 m/day Mezzanine Elements PREANSA has presence in Peru, Chile and Colombia 140 m/day Financial Overview – LTM 1H17 (USD MM) Peru Ownership structure Chile Total Assets 22 Revenue EBITDA Total Assets 22 6 Revenue 8 1 EBITDA -1.3 16% EBITDA Margin 50.02% Prefabricados Andinos Perú S.A.C. 51.0% Prefabricados Andinos S.A. (Chile) 100% EBITDA Margin Source: Preansa. -16% Prefabricados Andinos Colombia S.A.S. Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 31
7. Building a high potential operation in the region Revenues EBITDA (USD Thousands) Peru Chile (USD Thousands) Peru 21,501 Chile 1,770 870 1,216 10,407 8,668 7,901 870 366 13,541 10,924 9,316 -137 7,923 5,819 -1,749 2013 2014 2015 2016 -3,386 LTM1H17 2013 2014 Net Income 2016 -3,647 LTM1H17 Net Debt (USD Thousands) (USD Thousands) 3,734 Peru Chile Peru 3,002 2,556 2015 11,748 Chile 9,708 2,517 11,248 9,104 1,728 7,532 919 5,691 6,570 321 1,952 2013 Source: Preansa. 2014 1,564 -1,392 -1,482 2015 2016 LTM1H17 2013 2014 2015 2016 1H17 Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 32
8. Consolidated Financial Highlights
8. Optimistic about opportunities to come Revenues EBITDA and EBITDA Margin (USD Millions) (USD Millions and %) 450 1,149 50.0% 392 1,072 400 1,090 1,039 341 1,049 EBITDA Margen EBITDA 45.0% 366 40.0% 350 40.2% 321 316 35.0% 300 34.1% 250 30.0% 30.9% 31.9% 30.1% 25.0% 200 20.0% 150 15.0% 2013 2014 2015 2016 100 LTM1H17 10.0% 2013 2014 Net Income & Net Margin LTM1H17 (USD Millions) Net Income 105 2016 Net Debt (USD Millions and %) 120 2015 Net Margin 1,587 41.0% 1,451 36.0% 1,433 1,345 100 31.0% 80 72 26.0% 1,041 21.0% 60 16.0% 40 29 32 29 9.7% 20 6.0% 6.7% 1.5% - 2013 Source: Company filings 11.0% 3.0% 2.7% 1.0% -4.0% 2014 2015 2016 LTM1H17 2013 2014 2015 2016 1H17 Exchange rate from PEN to USD: 2013: 2.70 PEN/USD 2014: 2.84 PEN/USD 2015: 3.19 PEN/USD 2016: 3.38 PEN/USD LTM1H17: 3.32 PEN/USD 34
8. Consolidated Debt Profile Maturity Profile FX Distribution (As of 2016) (USD Millions) PEN, 345 Short term 17% USD, 1,057 Long term 83% Total Debt USD 1,475 Amortization Schedule 2017 (USD Millions) 661 163 2017 Unacem Individual 213 184 2018 Unicon 148 106 2019 Celepsa Preansa Peru 2020 Preansa Chile 2021 Preansa Colombia Skanon 2022 Unacem Ecuador 35 Source: UNACEM Exchange rate from PEN/USD 2016: 3.38 PEN/USD
XV Andean Conference 2017 September 27th – 28th Westin Hotel Lima - Peru Atocongo Plant, Lima
2017 September 2017 Project Estimated investment to be granted in 2017: PEN 1,620 million 12 Panamerican Games works will be executed in the next 22 months in Lima, important volume and a short term On September 4th, BESCO - Besalco was awarded the construction of the Village PEN 313 MM November 2017 November November 2017 November 2017
Conference Proceedings International Conference on Advanced Marketing 2017 (ICAM 2017) Conference Proceedings International Conference on Advanced Marketing 2017 (ICAM 2017) 26th- 27thJanuary 2017 Colombo, Sri Lanka Committee of the ICAM- 2017 The International Institute of Knowledge Management (TIIKM) Tel: 94(0) 11 3132827 info@tiikm.com ii
These instructions are written for a Table Loom or a 4-shaft loom with direct tie-up. For Pebble Weave I have used the pattern threading as given in Appendix F to Andean Peb-ble Weave by Laverne Waddington. Her new book
EXPEDITION Fall 2016 9 illness, and route-finding in difficult terrain, they also surmounted a psychological barrier brought on by a fear of the deities inhabiting sacred mountains. The Andean Belief System Mountain deities figured prominently in indigenous Andean beliefs and, among many traditional communi-ties in the area, they still do.
Colombia's efforts to fulfill its set of commitments under the Action Plan Related to Labor Rights.1 The U.S.-Colombia FTA negotiations grew out of a regional effort in 2004 to produce a U.S.-Andean free trade agreement between the United States and the Andean countries of Colombia,
given to the plant and its storage root (Figures 1 and 2A). Yacon is native to the Andean region and is known to have been cultivated and consumed since pre-Inca times. Despite this, and unlike other Andean root crops such as potato and sweet potato, yacon remains relatively unexploited. Until now yacon has generally been
2017 NACE conference expo NACE conference expo JUNE 6 - 9 LAS VEGAS 2017 NACE conference expo JUNE 6 - 9 LAS VEGAS 2017 NACE conference expo JUNE 6 - 9 LAS VEGAS 2017 NACE conference expo C 100, M 25, Y 0, K 50 C 56, M 14, Y 0, K 28 CMYK R 0, G 85, B 129 RGB R 78, G 140, B 177 PMS 302 C PMS 302 C (@ 56% tint) PMS Coated
March 30, 2017 3:30 PM (PST) April 11, 2017 3:30 PM (PST) April 24, 2017 3:30 PM (PST) May 1, 2017 – May 5, 2017 May 8, 2017 – July 14, 2017 July 17, 2017 3.2 Proposer Conference A Proposer conference is tentatively scheduled to be held at 10:00 AM (PST), March 13, 2017
Etika, Ligji dhe Performanca në Administratën tonë Publike E. Saliaga 5 “Statusi i Nënpunësit Civil”, Ligj Nr. 8549, datë 11.11.1999, Republika e Shqipërisë.
