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May 2014 TERPEL 1Q-15 Results
May 2014
TERPEL
1Q-15 Results
1 REGIONAL PRESENCE
2 SS El Dorado (Bogotá D.C., Colombia)
1 REGIONAL PRESENCE
3
(*) Source: Terpel mar-15. Colombia's Market Share Dec.14
(***) Market Share in Mexico City is 100%
(****) 1980 liquid fuel SS (200 owned) and 291 VNG SS, (164 SS sale both liquid fuels and VNG)
(****) No. SS mar-14: Colombia-> 2062, Panama-> 102, Ecuador-> 53, Mexico-> 6, Peru-> 22
No. No. Ranking% Market
Share*
Business
Lines
7 -- 1 92%** (VNG)
-- 4 2 35%
110 -- 2 21%
41% COMB
47% VNG
74% Aviation
56 -- 5 7%
29 -- 2 10% (VNG)
12.107*** 20
2 CONSOLIDATED RESULTS
4
VOLUME COUNTRY BREAKDOWN
EBITDA COUNTRY BREAKDOWN
VOLUME SALES
(Million Gallons)
EBITDA*
(COP$ Billion)
CONSOLIDATED RESULTS 2
5 * Colombia neither includes royalties income nor equity tax
for COP$10,7 billion
538,16 540,26 11,79 13,66 1,69 0,54 0,32 2,07
mar-14 Colombia Panamá Ecuador Perú México Rep. Dom mar-15
Var: +0,39%
+2,79% -22,18% +5,28% +11,5% -8,75% +15,69%
COLOMBIA 3
6
Ziclos SS Autopista (Cali, Colombia)
Restrooms SS Báscula (Bogotá, Colombia)
Toque SS Compostela (Bogotá, Colombia) Deuna SS La América (Medellín, Colombia)
Altoque Convenience Store SS Báscula (Bogotá, Colombia)
VOLUME SALES BREAKDOWN YTD GROSS PROFIT BREAKDOWN YTD
VOLUME = 434,93 Million Gallons
(+2,79% vs. Mar.14)
GROSS PROFIT = COP$ 196,03 Billion
(-12,40% vs. Mar.14)
COLOMBIA: OPERATIONAL RESULTS 3
+%: YTD growth %: Gross Margin %: Share in consolidated figure
7
Fuel SS 65,54%
VNG SS 6,30%
Lubricants 0,41%
Industry 9,87%
Aviation 17,46%
Marine 0,40%
+6,05%
-6,69%
+9,83%
-25,27%
+19,6%
-25,19%
Fuel SS 49,73%
GNC SS 25,79%
Non-Oil 0,84%
Lubs 7,60%
Industry 4,58%
Aviation 6,80%
Marine 0,33% Others
4,32%
34% 49%
37%
3%
3%
5%
COLOMBIA: OPERATIONAL RESULTS 3
NET PROFIT** (COP$ Billion)
89,4% decrease in net profit: in 1Q14 (prior
to merger process) SIE’s cost of debt was not
part of Terpel financial expenses. Also, in
1T15 there was an equity tax charge for
about COP$10,7 billion.
32,1% EBITDA decrease despite the volume
growth (2,8%): VNG, lubricants and aviation
had lower gross margins compared to 2014 in
addition to lower volume in industry and VNG
business. Loss in inventories (fuel price
changes) amounted to COP$24.781 million.
EBITDA* (COP$ Billion)
8
** 1Q14 net profit prior to merger process (neither includes
Proenergía, Terpel Centro nor SIE financial results).
$ 126
$ 86
$ 298
$ 197
$ -
$ 20
$ 40
$ 60
$ 80
$ 100
$ 120
$ 140
$ -
$ 50
$ 100
$ 150
$ 200
$ 250
$ 300
$ 350
mar-14 mar-15
EBITDA $COP MMM EBITDA/Gln
* EBITDA neither includes royalties income nor equity tax
for COP$10,7 billion
4 CONSOLIDATED BALANCE SHEET
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Terpel Share listed in Colombian stock market
Current Assets 35%
Permanent Investments
0%
PP&E 38%
Deferred & Intangibles
26%
Others 1%
4 CONSOLIDATED BALANCE SHEET
BALANCE SHEET
(COP$ Billion)
ASSETS
LIABILITIES
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$ 3.688
$ 1.347
$ 0,47
$ 2.340
Assets Laiabilities & Equity
Assets Equity Minority Interest Liabilities
Current Liabilities
30%
Short Term Debt 4%
Bonds issued 47%
Long Term Debt 8% Others
11%
4
FINANCIAL DEBT*
(COP$ Billion)
DEBT MATURITY BREAKDOWN TYPE OF INTEREST RATE BREAKDOWN
CONSOLIDATED FINANCIAL DEBT
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OrganizaciónTerpel
Panamá PNSA México CEM Gazel Perú ConsolidatedDebt
$ 1.142
$ 1.402 $ 184 $ 58 $ 19
FIXED 19%
IPC 64%
LIBOR 13%
TIIE 4%
ST 3%
LT 97% Consolidated Cash balance $230.546 Million
(*) USD/COP $2.576,05 PEN/USD $3,1 MXN/USD $15,15
Mar-2014 debt including SIE: COP$ 1.326 Million. Debt exchange difference COP$47 billion
DEBT / EBITDA=2,9x EBITDA / INTERESTS=6,1x
4
DEBT MATURITY PROFILE (COP$ Billion)
CONSOLIDATED DEBT MATURITY PROFILE
12
$ 115
$ 241
$ 151
$ 247 $ 249
$ 97
$ 58
$ 80
$ 104
$ 4
$ 4
$ 4 $ 4
$ 2
$ 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Colombia Mexico Panama Peru
CAPEX BUSINESS LINE BREAKDOWN CAPEX COUNTRY BREAKDOWN
CAPEX COP$ 90.907 Million
4 CONSOLIDATED CAPEX
MAIN PROJECTS
Expansion and strengthening of the service
stations network.
Investments in upgrading service stations.
Development of complementary services
(non-oil business)
Plants and airports overhaul and increase in
storage capacity.
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(1) 317 53 53
https://www.terpel.com/Home/Shareholders/investor-
relations/Financial-statement/
CONTACT
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