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2024 Results Aguas Andinas March 2025
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March 2025 Contact: inversionista@aguasandinas.cl www.aguasandinasinversionistas.cl Investor Relations Team DENISSE LABARCA Deputy Manager Investor Relations ERIKA SANDOVAL Investor Relations Specialist JAVIERA VISCAYA Investor Relations Specialist Presenting today MIQUEL SANS Financial Director 2 JORGE CUÉLLAR Investor Relations Specialist ANTONELA LAINO Finance and Investor Relations Manager
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Agenda 2024 Results Financial context1 3 Bond issuance in the local market 2 4 2025-2030 Cycle
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Marzo 2025 4 Financial context 01 A shared purpose 4
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March 2025 5 Financial context Positive closing of the tariff process for Aguas Andinas and its subsidiaries Sustainable water security plan • Aguas Andinas maintained a stable drinking water supply despite the intense weather conditions that affected the region during the year. Closing of the tariff process • Aguas Andinas and its subsidiaries closed their tariff processes positively after reaching an agreement with the Superintendency of Sanitary Services. Financial advances • Ratification of local and international ratings. • Successful issuance in the international (May 2024) and local (January 2025) markets. • Proposed dividend distribution of 70% of the 2024 financial year’s profits to address the growth investment plan. Avanza+ Transition • After concluding the Avanza+ transformation plan at the end of 2024, the company launched a new plan to continue achieving efficiencies and profitability.
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Marzo 2025 6 2024 Results 02 A shared purpose 6
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March 2025 7 EBITDA increases in 2.2%, maintaining its growth. 133,390 124,339 9M2023 9M2024 Utilidad NetaNet Income 318,287 325,436 9M2023 9M2024 EBITDA 640,855 662,701 9M2023 9M2024 Ingresos Figures in CLP million +3.4% Revenue EBITDA +2.2% NET INCOME MARGEN -6.8% MAIN VARIATIONS ➢ Revenue: • Consumption effect of +6,564 MCLP. • Tariff effect of +15,639 MCLP, mainly due to polynomial indexations. ➢ Costs: • CPI effect and USD exchange rate impact of (12,867) MCLP. • Higher operating costs (21,808) MCLP mainly associated with higher costs in network and asset maintenance, hydraulic efficiency plan and sewer video inspection, electricity, contributions and permits. • Lower water transfers of +10,952 MCLP. • Extraordinaryevents of +2,631 MCLP. • Improvementin bad debt of +5,152 MCLP (1.1% over revenues vs 1.9% in December 2023). • Efficiencies of +3,451 MCLP. ➢ Financial results mainly impacted by lower cash surpluses together with lower interest rates. ➢ Other results are mainly impacted by the reversal in 2023 of a provision associated with the sale of Essal. Partially offset by higher revenues from land sales. 2023 2023 2023 2024 2024 2024 49.7% 49.1% Margin Revenue
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March 2025 8 o Volumes growing at pre-pandemic rate. o Bad debts back to pre-pandemic levels. o Managing network-related costs towards a stable trend. o Increase in electricity costs due to the unfreezing of regulated prices. Main factors to be considered
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March 2025 9 Lower working capital Increased payment for project execution Dec-2024 Dec-2023 OCF 323,879 299,742 Taxes (29,867) (53,505) Net financial flows (39,687) (31,909) Paid Capex (153,669) (129,684) FCF 100,656 84,644 Figures in CLP million Var. 24,137 23,638 (7,778) (23,985) 16,012 Mainly due to lower PPM rate together with tax refund. Lower interest on financial investmentsdue to cash surpluses. Assignment assets 5,206 5,001 Dividend paid (90,100) (90,612) Total CF 15,761 (11,215) 205 512 26,976 Payment agreement ESSAL - (10,249) 10,249 Mainly associated with investmentsmade in the last months of 2023 that generated a higher payment in the first quarter of 2024. Increased collections which is partially offset by payments to suppliers. 2024 year: Payment of the interim dividend was made in January 2025.
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March 2025 10 Robust investment plan To ensure committed security of supply standards under climate change conditions. Operational continuity 24% Network maintenance 38% Water Resource 14% Replacement of meters and starters 10% Asset Management 7% Digitalization and IT 3% Others 4% 149,483 million
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March 2025 11 Lease liabilities 0.3% Promissory notes 12.5% Bank loans 12.7% Bonds 74.5% Net Debt Stable UF 75.40% CLP 12.77% CHF 8.44% JPY 2.43% AUD 0.95% Debt by currency 1,175,836$ 1,217,839$ 42,003$+3.6% (15,761)$ 57,764$ Currency adjustment of debt in UF and others Positive cash flow for the period NFD Variation 2024 NFD 2023 (as Dec.23) NFD 2024 (as Dec.24) 22.9% of our financial debt is green and social. 109,157$ (28,101)$ (15,630)$ -0.4% Positive cash flow for the period Bond amortization Amort., repurchase and new Promissory Notes Figures in CLP million Cash Position Variation Initial Treasury Position 2024 Treasury Position December 2024 Amort. of bank loans (103,850)$ 131,421$ 108,758$ Issuance of bonds and bank loans Debt by instrument Fixed 89.6% Variable 10.4% Debt by rate 15,761$ Figures in CLP million
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March 2025 12 Assets revaluation Water rights revaluation 390,479 million Land revaluation 169,914 million (*) Assets revaluation generates a negative impact on the results of 217 million. (*)
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March 2025 13 Economic Value Financial ratios that reflect a solid financial structure. (1) EV/EBITDA according to Bloomberg methodology as of Mar. 27th, 2025. EPS $20.32 Leverage 1.34x Net Debt/EBITDA 3.74xLiquidity 0.82x ROCE 9.1%EV/EBITDA(1) 9.87x Dec. 2024 Dec. 2024 Dec. 2024 Dec. 2024 Dec. 2024 Mar 27th, 2025 Indicators consider the effect of asset revaluation.
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Marzo 2025 14 Bond issuance in the local market 03 A shared purpose 14
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March 2025 15 Bond issuance in the local market in January 2025 • Amount: UF 4,000,000 • Term and amortization : 21 years, Soft-Bullet (4 equal amortizations at the end of the period, maturity in 2046. • Coupon rate and payment: Coupon rate of 3.40% with semiannual payments • Placement rate: 3.19%. • ESG Format: Sustainable (green and social) • Use of funds: 2025 liability refinancing and sustainable project financing • Covenants: (total liabilities-cash)/ equity < 1.5x with adjustment for CPI based on Dec-2009 at calculation date AH Series Bond 105 51 50 20 157 12 81 71 86 69 56 112 138 82 40 19 19 58 58 58 77 38 0 20 40 60 80 100 120 140 160 180 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 Cifras en Billones de CLP AFR Bonos Locales Bonos Internacionales Préstamos Bancarios Bono Serie AHBank Loans AH Series BondInternational BondsLocal Bonds Promissory Notes Figures in billions of CLP
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2025-2030 Cycle 04 A shared purpose 16
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March 2025 17 Results of the VIII tariff process and development plans Aguas Andinas (89%) Aguas Cordillera (8%) Aguas Manquehue (3%) Base rate 5.0% 12.0% 5.0% Calendar 3% Mar 25; 1% Dec 25; 1% Mar 26 10% Jul 25; 1% Nov 25; 1% May 26 Jun 25 Standard upgrade tariffs 7.4% 2.15% 0.16% Estimated timetable 0.55% 2025; 0.3% 2026; 1.86% 2028; 2.31% 2029; 2.39% 2030 0.15% 2025; 2.0% 2029 2025 Investment: Main increases Biociudad Expansion of sewage treatment plants in localities 0.5% annual renewal of networks as from 2024 Weighted tariff ~ 12% • Conversion of a risk (climate change) into a growth opportunity. • Obtaining tariff for projects appropriate to the company's investment efforts.
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March 2025 18 Results of the VIII tariff process and development plans Rates associated to standard upgrade JASJSAJAS JKSJKASJ KSAKSKA Project Aguas Andinas Aguas Cordillera Aguas Manquehue Base drought(1) 3.85% - - Final Drought: Wells in Canals Girdles 0.15% - - Final turbidity: Maipo alternative catchment 1.17% - - Biociudad Total 5.17% - - San Antonio - San Enrique Drive - 2.00% La Farfana Deodorization 0.30% - - Alternative supply plan 0.55% 0.15% 0.16% Thermal hydrolysis La Farfana 1.14% - - Thermal drying of sludge - Trebal Mapocho 0.25% - - Total other projects 2.24% 2.15% 0.16% Total 7.4% 2.15% 0.16% (1) “Base Drought” rate applies to the extent that wells are constructed or, temporarily, if compensation costs are incurred for water transfers derived from redistribution agreements in the supervision committee of Maipo river. TARIFF- LINKED PROJECTS 2025-2030 ~300 bn CLP ~100 bn CLP
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March 2025 19 Capturing growth opportunities and adapting to climate change JASJSAJAS JKSJKASJ KSAKSKA In order to maintain a solid and sustainable financial performance, it is necessary to temporarily generate financial flexibiity to execute investments and obtain the associated tariffs. Average annual investment 2025 – 2030 $200 – $250 CLP bn Biociudad projects with tariff Other tariff-linked projects Capex to ensure service standards ~ $300 MM CLP ~ $100 MM CLP Proposed payout of 70% of fiscal year 2024 earnings.