SlideShare a Scribd company logo
1 of 27
Project Huelqu
Pro
e
jec
n -
t C
HI
u
M
elqu
- M
e
a
n
y-2C
01
IM
9
4
4
Investor Presentation
2023
Disclaimer
2
This presentation has been prepared by Empresas GASCO S.A. for the sole purpose of providing general information about the Company and does not constitute
a comprehensive analysis of its financial, commercial and competitive position. In all cases, interested parties should conduct their own independent investigation
and analysis of the Company.
Empresas GASCO S.A. assumes no responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, adequacy or
completeness of the information contained herein.
This document contains certain performance measures that may not represent IFRS definitions, such as “EBITDA” and “Net financial debt”. These measures
cannot be compared with the same ones used by other companies.
All forward-looking statements are based on the beliefs and assumptions of Empresas GASCO S.A.’s management and on information currently available to the
Company. They may involve subjective judgement and analysis that may or may not prove to be accurate or correct. Investors should acknowledge that general
economic conditions, industry conditions and other operating factors could also affect the future results of Empresas GASCO S.A. and could cause results to differ
materially from those expressed in such forward-looking statements.
Contacts
Cristian Aguirre (CEO)
caguirre@gasco.cl
Rodrigo Baeza (CFO)
rbaeza@gasco.cl
1. Empresas GASCO S.A. at a glance
2. Business Overview
3. LPG Business
4. Financial Results
5. Innovation
90%
Businesssegments
4
89.2% 10.8%
Perez Cruz
Family
Others
Notes:
- Empresas GASCO S.A. (holding) is considered within the Energy Solutions Chile business segment
- Gasco Magallanes is a business unit of Empresas Gasco S.A.
- Vidagas y Unigas are commercial brands belonging to Inversiones GLP S.A.S. E.S.P.
- HY2ALL SPA do not consolidate.
- In October 2023 the purchase of the remaining 50% of Copiapo Solar was concluded.
- In August 2022, the purchase of the remaining 50% of Inersa and TGC was concluded.
LPG PROCUREMENT ENERGY SOLUTIONS INTERNATIONAL
ENERGY SOLUTIONS CHILE
100%
Listed on the Santiago Stock Exchange
1,839 Employees
33,33% 28.33%
Empresas Gasco Colombia
1,603 km
of NG pipelines in
Magallanes
Overview
5
Founded in 1856, Empresas GASCO is a
leading Chilean conglomerate dedicated
to integrated energy solutions and gas
commercialization
27%
LPG distribution
market share in
Chile
Financial Indicators
479 millions m3
m3 of NG combinedsales in Chile
US$ 74 million
EBITDA
US$ 67 million
CAPEX
US$ 16 million
Net Profit
US$ 178 million
Net Financial Debt
December 2022
511 thousand tons
tons of LPG combinedsales in Chileand
Colombia
487 millions m3
m3 of NG combinedsales in Chile
December 2023
US$ 91 million
EBITDA
US$ 56 million
CAPEX
US$ 21 million
Net Profit
US$ 163 million
Net Financial Debt
494 thousand tons
tons of LPG combinedsales in Chileand
Colombia
Operational Indicators
December 2023
26
distribution centers
22
owned bottling plants
19%
LPG distribution
market share in
Colombia
The seaborne international procurement of LPG is carried out directly by Gasco GLP
since 2023 once Gasmar was divested
Notes:
1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023).
51 MW
Installed capacity
(1) (1)
(1) (1)
(1)
(2) (2)
(1)
 Stable and resilient business as demonstrated in particular during COVID-19
 Increasing volumes from the energy solutions approach with industrial clients demanding additional volumes
 Strong customer satisfaction from innovative solutions such as Gasconnect (60% reduction in the delivery time of gas)
 Experienced top management team with 18 years of experience on average in the Oil & Gas and Energy industries (both in the
private and public sectors), able to effectively execute the Company’s revised long term strategic plan
 Strong local shareholder, The Perez Cruz Group is present in the energy business, real estate, wine and fruits production
 First mover energy solutions provider (use of gas to provide value added products and services to its customers)
 Strong presence in the central area of Chile with a 34% market share in LPG distribution in the Metropolitan Region, where
~45% of the Chilean population lives, and 27% market share on a national basis
 #2 largest LPG distributor in Colombia with a 19% market share on a national basis
 Sole natural gas distributor in the Magallanes Region (Chile)
 Attractive industry fundamentals: stable market with vast opportunities to replace crude oil refined products energy
sources with LPG
 Diversification opportunities in the power generation sector, leveraging on Empresas Gasco’s LPG positioning and
facilities
 Industrial segment development: primary energy displacement from refined products through LPG based energy
solutions including steam, heat, and refrigeration among others
 Strong competitor in geographic areas where the natural gas is less competitive due to larger capex requirements
6
 Both Chile and Colombia, OECD members, have market driven policies and friendly business environment, with focus on renewable energy
MARKET ORIENTED POLICIES WITH A FOCUS ON RENEWABLE ENERGIES
LEADING MARKET POSITION AS AN ENERGY SOLUTIONS PROVIDER
ATTRACTIVE GROWTH POTENTIAL
HIGHLY QUALIFIED MANAGEMENT TEAM
RESILIENT BUSINESS WITH INNOVATIVE SOLUTIONS
$
KeyBusinessHighlights
Gasco was awarded
to provide heat from
solar source to the
mining company
BHP.
Acquisition of the
remaining 50% of
Copiapó Solar .
Establishment of the
brand
Stake increase in
Gasmar up to
64%
Gasco’s spin-off
agreement
between GNF and
PCG
Stake increase in Unig a
s reaching 100%
Established
Over168yearsofhistory
7
1856
1977 1981
1995 2004
2010
2014
2011
2016
2015
2018
2019
Constitution of Compañía de Gas de Santiago
Compañía
General de
Electricidad (CGE)
becomes Gascos’s
controller
Gas
distribution in
Magallanes
Region
Metrogas
incorporation
with a 40% stake
owned by Gasco
Sale of 24% stake in
Gasmar to Abastible (51%
- Gasco)
Beginning of LPG operations
in Colombia with the
acquisition of 70% in
Inversiones GLP
Acquisition of 70% in
Unigas through
Inversiones GLP
Acquisition of CGE
by Gas Natural
Fenosa
Grupo Perez Cruz reached
a 94% stake after
launching a tender offer
for 78% stake of Gasco
Established Irsa
Established asco Luz
Acquired the remaining
30% of Vidag as
reaching 100% of the
ownership
Established
Stake decrease in Gasco
reaching 90%
Newly created companies as part of the
Energy Solutions strategy
Sale of the
participation of
64% in Gasmar
2017
2020
2021
Spin-off of Real
Estate assets into a
separate company to
be listed on the
Santiago Stock
Exchange
Established
Established
Sale of 50%
stake in
2022
Acquisition of the
remaining 50% of
Inersa and TGC
was concluded.
2023
1. Empresas GASCO S.A. at a glance
2. Business Overview
3. LPG Business
4. Financial Results
5. Innovation
AleadingenergysolutionsconglomerateinChile&Colombia
9
 Founded in 1856, Empresas GASCO is a leading Chilean energy
solutions conglomerate listed on the Santiago Stock Exchange
 The Company’s business model integrates supply activities, logistics
management, gas commercialization and integrated energy solutions
 Presence in both mid stream and down stream segments
 Current activities: imports of gas (LPG and NG), storage, bottling
plants, transportation, commercialization of both LPG and NG as
primary energy or energy solutions
 The company has set a long term strategic plan to evolve from a pure gas
player to an energy solutions company
 Ongoing and new projects include LPG based power generation plants,
solar plants, and LPG import terminals
I
XV
II
IV
VI
VII
VIII
IX
XIV
X
XI
XII
V
RM
GASCO GLP SA
Innovación Energía SA
Terminal Gas Caldera SA
III
GASCO Luz
Copiapo Solar
GASCO Magallanes
Both
Geographical footprint
Overview
Key financials
SALES VOLUME 2023
LPG tons
511k
EBITDA 2023
US$
91m
75%
25%
85%
15%
Notes:
1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023).
Subsidiariesandbusinessunits
10
 Location: Chile, all regions except the XII
region
 Line of business: Import, storage,
operation, trading, distribution and
commercialization of LPG in Chile
 Capacity:
7 bottling plants
12 distribution centers
 On February 15th 2023 GASCO GLP
received the first 45,000 tons propane
vessel directly imported by the company
with Gasmar as a long term partner
providing terminal operation services.
 Location: Chile, Magallanes Region
 Line of business: Distribution and
commercialization of LNG and LPG in
the XII Region
 Regulated market: Residential,
Commercial and Edelmag (Power
generation and distribution)
 Capacity:
2 bottling plants
Over 1,603 km of NG pipelines
 Location: Present in 28 of the 32
departments in Colombia
 Line of business: Import, storage,
operation, distribution and
commercialization of LPG in Colombia
 Capacity:
13 bottling plants
14 distribution centers
 The investment in the Puerto Bahía LPG
terminal ensures a stable and reliable
supply of LPG, reducing dependence on
Ecopetrol
Notes:
1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
2) Balance Sheet consolidated figures converted at CLP $ per USD (as of Dec 2023).
11
 Location: various locations throughout
Chile and Colombia
 Line of business: Power generation
through solar panels. Distributed
Generation under the Net Billing scheme
allows regulated customers to offset their
electricity expenses, using the production
of the photovoltaic system on site and
injecting the surplus into the national grid
 Generation Capacity:
>32 MW (2023) >90 MW (2028)
 Compensation structure:
 Income from the sale of energy,
leveraging its current and future
customer base (schools, wineries,
agricultural customers, among others)
 Location: one solar plant in the Atacama
region, one of the areas with the highest
solar radiation in the world
 Line of business: Energy generation,
the construction of solar assets in the
north of Chile will allow to sell energy at
competitive prices and participate in the
large-scale VRE market
 Capacity:
150 MW in 2025-2026
8.7km of transmission lines
 Compensation structure:
 Payments for the sale of energy to the
National Electric System (Spot,
regulated tenders, non-regulated
customers, among others)
 Location: LPG backup plant located in
in Teno (Maule Region) and Puerto
Williams (Magallanes Region), Chile
 Line of business: Complement the
intermittency of non-conventional
renewable energy with a stable backup
energy supply based on LPG and
provide Off Grid energy to customers
complementing in this way the traditional
business of Empesas Gasco
 Capacity:
45 MW in Teno (since 2020)
6 MW in Puerto Williams (Since 2022)
26 operating engines each with 1.72MW
capacity in Teno, and 2 operating
engines each with 6MW in Puerto
Williams
 Compensation structure:
 Payment for power for backup
capacity and Power Generation
Subsidiariesandbusinessunits
Notes:
1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
2) Balance Sheet consolidated figures converted at CLP $ per USD (as of Dec 2023).
Ambitioustransformationintoaenergysolutionscompany
12
Strategic targets
Extend the LPG
business model to an
energy solutions
supply
Sustainable energy
supply through VRE as
a complement to LPG
Access to
competitive LPG prices
Digitalization of the
energy supply value
chain
Extend business model
to Colombia and
Magallanes
Development of an
effective organization
 Construction of additional storage capacity and LPG terminals
 Larger capacity allows greater imported volumes and flexible supply at a better
price
 Digital technology to improve integration with customers offering LPG at the
most competitive price and on a flexible way
 Gasconnect is a tangible example of technology implementation to strengthen
and integrate each stage of the value
 Corporate governance strengthening the engineering capabilities and energy
expertise
EmpresasGASCO’s goalis to positionitselfasaleaderinthedevelopmentofenergysolutions
supportedbygasandincomplementaritywithotherrenewableenergies
 Build new infrastructure to secure a stable and flexible LPG supply
 Expand the products' offer and solutions for Empresas GASCO’s customers
 Develop LPG power generation assets
 Competitive advantages to develop VRE as a complement to LPG power
generation
 Competitive import of LPG together with enhanced logistics capabilities allows
Empresas GASCO to offer competitive VRE to the market
 Target new industrial clients offering energy solutions rather than only gas (ex:
heat, steam, electrons)
1. Empresas GASCO S.A. at a glance
2. Business Overview
3. LPG Business
4. Financial Results
5. Innovation
WhyChile&Colombia?
Colombia
Chile
1,358
Tbtu
Favorable market context in a country
highly dependent on imports of energy
resources
6% of the secondary energy consumption
in 2022 was fulfilled with LPG. High
opportunity to displace biomass,
kerosene, diesel, and fuel oil use
High intermittence due to large
pipeline of photovoltaic and wind
projects present an attractive
opportunity for LPG back-up power
generation
Relatively small LPG participation in
the energy matrix: opportunities to
displace highly polluting fuels
Only 2% of the secondary energy
consumption in 2022 was fulfilled with
LPG
Gasco purchases most of its LPG from
Ecopetroll’s Cusiana gas field and
refineries
Direct imports from the US Gulf Coast
and unloading at the Okianus Terminal
in Cartagena in which the company has
a 20% stake
1,916
Tbtu
Secondary energy sources (2022)
Diesel
31%
Fuel oil &
Kerosene
6%
Gasoline
13%
Coal
1%
Biomass
13%
Electricity
24%
Natural Gas
7%
Secondary energy sources (2022)
LPG
6%
Diesel
20%
Electricity
17%
Biomass
8%
Natural Gas
15%
Gasoline
19%
LPG
2%
Others
19%
2marketswithattractive growthprospects
14
Source: National Energy Balance 2022, Ministry of Energy of Chile
Source: National Energy Balance 2022, Ministry of Energy of Colombia
Sales Volume (‘000 tons)
345 366 368 382
107
124 126 129
0
100
200
300
400
500
600
2020 2021 2022 2023
Chile Colombia
Gas value chain
15
>
>
> > >
>
>
>
>
>
>
>
>
>
Maritime LPG
Import
Onshore LPG
Import
Domestic
LPG supply
Wholesale
storage
Truck
Pipeline
Storage and
distribution
plant
Bulk Cylinder
City gate
Distribution
grid
Residential,
commercial,
Real Estate
Industrial
Agro-industrial
Electric
generation
Forklifts
Institutional
Truck
Refinery
Natural gas
extraction and
separation
Mid stream Down Stream
Gasconnect
+
Credit to customers
+
Direct sale
(call center)
+
Sub retailers
Domestic NG
supply
Energy
Solutions
>
Pipeline
>
Storage and
distribution
plant
Domestic
LPG supply
>
>
>
>
>
>
Truck
Pipeline Bulk Cylinder
>
>
Divested
22plantsand26distributioncentersinChileandColombia
16
Chile Colombia
El Belloto’s Plant
DC Iquique
Maipú’s Plant
Talca’s Plant
Osorno’s Plant
Coyhaique’s Plant
Mejillones’ Plant
Bio Bio’s Plant
DC Calama
DC Antofagasta
DC Copiapó
DC Coquimbo
DC Valparaíso
DC Rancagua
DC Chillán
DC P. Montt
DC Eyzaguirre
DC B. Mercado
Bello’s Plant
Cartagenas’s Plant
Chiquinquirá’s Plant
Manizales’s Plant
DC Valledupar
Villanueva’s Plant
Pitalito’s Plant
Cúcuta’s Plant
Bucaramanga’s Plant
Yumbo’s Plant
DC Caucasia
DC Santa Rosas de Osos
DC Barranquilla
DC Popayán
DC Armenia
DC Santa Rosa de Cabal
DC San Gil
DC Sincelejo
DC Buenaventura
Puerto Salgar’s Plants (2)
Fusagasuga’s DC
Siberia’s Plant
 7 Plants (GASCO GLP S.A.)
 2 Plants (GASCO Magallanes)
 12 Distribution Centers
 1,603 km of NG pipelines in Magallanes
 13 Plants
 14 Distribution Centers
Distribution Centers
Plant
Distribution Centers
Plant
Morelia Plant
DC Temuco
Cabo Negro’s Plant
Puerto Williams’ Plant
DC Guarne
DC Apartadó
DC Puerto Asís
LPGBottlingBusinessinChile
17
Annual Growth
-0.7%
-8.2%
-0.9%
+4.9%
-3.9%
18
120
45
39
221
17
110
44 41
213
-
50
100
150
200
250
North Metropolitan
Region
Center South South National Total
Sales 2022-2023 (‘000 tons)
2022 2023
34%
42%
24%
2019
Ton: 22,924
42%
40%
18%
2020
Ton: 25,025
40%
33%
27%
2021
Ton: 26,219
Fuel replacement
New assets
Captured from competitors
LPGBulkbusinessandenergysolutionsnewcontractsinChile
Gasco has been constantly attracting new volume through its value added sustainable energy solutions,
largely displacing the use of more contaminants fuels.
18
24%
33%
43%
2022
Ton: 22,170
29%
32%
38%
2023
Ton: 16,574
Historical performanceofvolumen’ssales-Chile
Cylinders’s volume (Tons) & margin (CLP/Kg) Bulk’s volume (Tons) & margin (CLP/Kg)
Transport’s volume (Tons) & margin (CLP/Kg)
Energy Solutions’s volume (Tons) & margin (CLP/Kg)
CAGR 19-23
-0.9%
CAGR 19-23
10.5%
CAGR 19-23
-16.6%
19
CAGR 19-23
21.6%
Notes: Volumes include a total of 3k tons equivalent of compressed natural gas sales
220,348 233,966 236,791
221,039 212,522
307 308 299
285
307
2019 2020 2021 2022 2023
94,542
86,253
101,271
115,698 141,141
499 515 493 494 487
2019 2020 2021 2022 2023
10,427
16,861
25,058 26,413
22,834
67
51
32
52
(12)
2019 2020 2021 2022 2023
12,742
8,389
7,307 8,099
6,661
87 87 96
107
129
(100)
(50)
-
50
100
150
2019 2020 2021 2022 2023
13%
4%
83%
LPGsourcingfor Chile starting 2023
20
Argentina
Distribution Centers
Plant
Terminal Quintero
Terminal Mejillones
 GASCO GLP signed a 20 years
Terminal Use Agreement (TUA)
with Gasmar for the use of both the
Quintero and the Mejillones
terminals
 This TUA includes:
 A variable rate per ton
 A fixed rate per annum
 A fixed storage rate per
annum
TUA with Gasmar
 GASCO GLP developed during 2021
and 2022 a strategy for the imports of
LPG, considering all relevant variables
and actors
 During 2023 GASCO GLP received
six propane vessels (45,000 Tons
each) directly imported by the
company beginning a new stage in the
business model with Gasmar as a long
term partner providing terminal
operation services
LPG Purchase
December 2023
374k
tons
Argentina
ENAP
TUA
TUA
GASCO GLP direct imports
(since 2023)
GASCOprocessesLPGat several plantsalongthecountry
1
7
2
3
4
5
6
Plant
Capacity
Cylinders / Bulk
Main products Construction’s year
1 Mejillones 120 / 200 tons Cylinders / Bulk 2011
2 El Belloto 250 / 300 tons Cylinders / Bulk 1996
3 Maipú 1,500 / 2,300 tons Cylinders / Bulk 1964
4 Talca 180 / 250 tons Cylinders / Bulk 1996
5 Bio Bio 170 / 300 tons Cylinders / Bulk 2015
6 Osorno 130 / 200 tons Cylinders / Bulk 1994
7 Coyhaique 30 / 30 tons Cylinders / Bulk 2009
Total
Cylinders / Bulk
2,380 / 3,580 tons
21
1. Empresas GASCO S.A. at a glance
2. Business Overview
3. LPG Business
4. Financial Results
5. Innovation
1.3x
Consolidatedhistorical performance
23
EBITDA (US$m) Net Debt (US$m)
Net Debt to Ebitda & Equity
CAPEX (US$m)
3.25x
Covenant
Net debt / EBITDA
Covenant
Net debt / Equity
Gasmar
divestment
Gasmar
divestment
Notes:
1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023).
0,72
0.92
0.19
0.41
0.36
2.25 2.36
1.13
2.40
1.87
2019 2020 2021 2022 2023
Net Debt/Equity Net Debt/Ebitda
55 60
14 20 31
60 57
60 55
60
114 117
74 74
91
2019 2020 2021 2022 2023
Rest of Empresas GASCO Group GASCO GLP
211 227
38
117 111
46 48
45
62 52
258 275
84
178 163
2019 2020 2021 2022 2023
Rest of Empresas GASCO Group GASCO GLP
19
28
18
26 27
33
34
42
41
29
52
63 60
67
56
2019 2020 2021 2022 2023
Rest of Empresas GASCO Group GASCO GLP
Consolidatedfinancial debt
24
December2023
~US$203m ~US$203m ~US$203m ~US$203m ~US$203m
US
Dólar
7%
COP
4%
CLP
27%
UF
62%
Internacional
Energy
Solutions
4%
Chile Energy Solutions 89%
Leasing
7%
Bank Debt
31%
Bond
62%
Short Term
15%
Long Term
85%
Variable rate
30%
Fixed rate
70%
Credit risk profile
Debt amortization (US$m)
(1)
Notes:
1) Sum from 2030 to 2039, US$ ~5,7 million each year.
2) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023).
3) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023).
Electrical
Bussines 7%
A+ (Stable) – Local Rating
BBB- (Stable) – International
Rating
AA- (Stable) – Local Rating
25 27
32
5
2
49
58
2024 2025 2026 2027 2028 2029 2030-2039
Empresas Gasco Gasco GLP Colombia Inersa
1. Empresas Gasco S.A. at a glance
2. Business Overview
3. LPG Business
4. Financial Results
5. Innovation
Innovationsprojects
26
HIF (Highly Innovative Fuels)
 Location: Magallanes Region and Chilean
Antarctica
 Business line: Empresas GASCO will
contribute US$3.0m to HIF so that it can
develop Renewable Liquefied Gas (RLG)
Gasconnect
 Location: Several Regions Chilean regions
 Objective: The fastest way to deliver
cylinders, based on mobile technologies,
integration with the distribution network
 Winner of the global technology
conference 2020 innovation award
Gasco Marine: Salmon Aysen project
 Location: South regions of Chile
 Business line: The project aims to replace
diesel with liquefied gas for the power
generation on the mobile platforms used to
feed and control.
 Gasco wins AI - Oil & Gas award at the Middle
East Technology Excellence Awards 2021
HY2All SpA
 GASCO, HyNewGen, Linde, Vopak and the Port
of Rotterdam are concluding a feasibility study for
the development of a 200 to 500 MW green
hydrogen Project in Chile (MOU signed in 2021)
 The next steps involve conceptual studies on
the production and logistics capabilities to
export to Europe
BHP
 Location: Antofagasta Region
 Business line: Empresas Gasco will generate
renewable heat for the electrowinning stage within
the copper cathodes production process setting
an important milestone for the mining industry and
the company.
AMSA
 Location: North of Chile
 Business line: The project aims to heat the
heap leach within the copper obtention
process.
Awards&Distinctions
27
Best digital solution award granted
to Gasconnect by the C3 Creativity
and Innovation Ranking of Brinca
Consultants and the Universidad del
Desarrollo
National Customer Satisfaction
Award in the gas sector awarded by
Procalidad, Adolfo Ibañez University
and Praxis Costumer Engagement
First place in the National
Procalidad Customer Satisfaction
Award in the cylinder segment
awarded by Praxis Costumer
Engagement
Echo Latam awards 2018 for
marketing campaigns associated with
Gasconnect and “Terraza Gasco”
Winner of the Global Technology
Conference 2020 innovation award
for the “Gas Connect” application
First place in the National
Procalidad Customer Satisfaction
Award in the cylinder segment
awarded by Praxis Costumer
Engagement
First place in the Most Innovative
Companies Chile Ranking awarded
by the ESE Business School of the
Universidad de los Andes
Winner of the "Commitment to
Integrity" award given by the
Fundación Generación Empresarial
and Diario Financiero
Winner of the “Applications”
Category Award at the Global
Technology Awards for a project
applied to pontoons
First place in the National
Procalidad Customer Satisfaction
Award in the meter segment awarded
by Praxis Costumer Engagement
Winner of the "Best Chilean
Companies" award given by Deloitte,
Banco Santander and the Adolfo
Ibáñez University Business School.
Winner of the “KAIZEN™ Award
Chile” for its maturity in Operational
Excellence under the KAIZEN™ and
Lean® Philosophy
Recognition for "Commitment to
Integrity" and promting good
practices given by the Fundación
Generación Empresarial
Distinction as one of the best
paying companies in the energy
sector awarded by Bolsa de
Productos and the Asociación de
Emprendedores
First place in the National
Procalidad Customer Satisfaction
Award in the meter segment awarded
by Praxis Costumer Engagement
Winner of the "Best Chilean
Companies" award given by Deloitte,
Banco Santander and the Adolfo
Ibáñez University Business School.

More Related Content

Similar to Investor-Relations-Presentation-2023.pptx

Corporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCorporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCPFL RI
 
Institutional presentation 2012
Institutional presentation 2012Institutional presentation 2012
Institutional presentation 2012comgasri
 
Institutional presentation 2011
Institutional presentation 2011Institutional presentation 2011
Institutional presentation 2011comgasri
 
Corporate Presentation CPFL Energia
Corporate Presentation CPFL EnergiaCorporate Presentation CPFL Energia
Corporate Presentation CPFL EnergiaCPFL RI
 
Corporate presentation cpfl energia apr2019 en
Corporate presentation cpfl energia apr2019 enCorporate presentation cpfl energia apr2019 en
Corporate presentation cpfl energia apr2019 enersa_ri
 
Speech of Jose Manuel Entrecanales in the GMS
Speech of Jose Manuel Entrecanales in the GMSSpeech of Jose Manuel Entrecanales in the GMS
Speech of Jose Manuel Entrecanales in the GMSacciona
 
3Q18 Results Presentation - CPFL Energia
3Q18 Results Presentation - CPFL Energia3Q18 Results Presentation - CPFL Energia
3Q18 Results Presentation - CPFL EnergiaCPFL RI
 
Corporate presentation cpfl energia 2 q19_en_final
Corporate presentation cpfl energia 2 q19_en_finalCorporate presentation cpfl energia 2 q19_en_final
Corporate presentation cpfl energia 2 q19_en_finalersa_ri
 
Institutional presentation 1 q12
Institutional presentation 1 q12Institutional presentation 1 q12
Institutional presentation 1 q12comgasri
 
Corporate Presentation CPFL Energia - August 2017
Corporate Presentation CPFL Energia - August 2017Corporate Presentation CPFL Energia - August 2017
Corporate Presentation CPFL Energia - August 2017CPFL RI
 
Institutional presentation 2 q13
Institutional presentation 2 q13Institutional presentation 2 q13
Institutional presentation 2 q13comgasri
 
Apimec comgás – meeting 2011
Apimec comgás – meeting 2011Apimec comgás – meeting 2011
Apimec comgás – meeting 2011comgasri
 
2Q18 Results Presentation - CPFL Energia
2Q18 Results Presentation - CPFL Energia2Q18 Results Presentation - CPFL Energia
2Q18 Results Presentation - CPFL EnergiaCPFL RI
 
Corporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enCorporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enCPFL RI
 
Corporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enCorporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enersa_ri
 
Corporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCorporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCPFL RI
 
4Q18 Results Presentation - CPFL Energia
4Q18 Results Presentation - CPFL Energia4Q18 Results Presentation - CPFL Energia
4Q18 Results Presentation - CPFL EnergiaCPFL RI
 

Similar to Investor-Relations-Presentation-2023.pptx (20)

Corporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCorporate Presentation - CPFL Energia
Corporate Presentation - CPFL Energia
 
Institutional presentation 2012
Institutional presentation 2012Institutional presentation 2012
Institutional presentation 2012
 
Institutional presentation 2011
Institutional presentation 2011Institutional presentation 2011
Institutional presentation 2011
 
Corporate Presentation CPFL Energia
Corporate Presentation CPFL EnergiaCorporate Presentation CPFL Energia
Corporate Presentation CPFL Energia
 
Corporate presentation cpfl energia apr2019 en
Corporate presentation cpfl energia apr2019 enCorporate presentation cpfl energia apr2019 en
Corporate presentation cpfl energia apr2019 en
 
Speech of Jose Manuel Entrecanales in the GMS
Speech of Jose Manuel Entrecanales in the GMSSpeech of Jose Manuel Entrecanales in the GMS
Speech of Jose Manuel Entrecanales in the GMS
 
3Q18 Results Presentation - CPFL Energia
3Q18 Results Presentation - CPFL Energia3Q18 Results Presentation - CPFL Energia
3Q18 Results Presentation - CPFL Energia
 
Corporate presentation cpfl energia 2 q19_en_final
Corporate presentation cpfl energia 2 q19_en_finalCorporate presentation cpfl energia 2 q19_en_final
Corporate presentation cpfl energia 2 q19_en_final
 
Institutional presentation 1 q12
Institutional presentation 1 q12Institutional presentation 1 q12
Institutional presentation 1 q12
 
Corporate Presentation CPFL Energia - August 2017
Corporate Presentation CPFL Energia - August 2017Corporate Presentation CPFL Energia - August 2017
Corporate Presentation CPFL Energia - August 2017
 
Institutional presentation 2 q13
Institutional presentation 2 q13Institutional presentation 2 q13
Institutional presentation 2 q13
 
Competition for-the-market
Competition for-the-market Competition for-the-market
Competition for-the-market
 
4 q earnings presentation geb vf1
4 q earnings presentation geb vf14 q earnings presentation geb vf1
4 q earnings presentation geb vf1
 
Apimec comgás – meeting 2011
Apimec comgás – meeting 2011Apimec comgás – meeting 2011
Apimec comgás – meeting 2011
 
2Q18 Results Presentation - CPFL Energia
2Q18 Results Presentation - CPFL Energia2Q18 Results Presentation - CPFL Energia
2Q18 Results Presentation - CPFL Energia
 
Corporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enCorporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 en
 
Corporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 enCorporate presentation cpfl energia nov2018 en
Corporate presentation cpfl energia nov2018 en
 
Corporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCorporate Presentation - CPFL Energia
Corporate Presentation - CPFL Energia
 
4Q18 Results Presentation - CPFL Energia
4Q18 Results Presentation - CPFL Energia4Q18 Results Presentation - CPFL Energia
4Q18 Results Presentation - CPFL Energia
 
Cepsa acquisition by ipic
Cepsa acquisition by ipicCepsa acquisition by ipic
Cepsa acquisition by ipic
 

Recently uploaded

2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis UsageNeil Kimberley
 
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… Abridged
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… AbridgedLean: From Theory to Practice — One City’s (and Library’s) Lean Story… Abridged
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… AbridgedKaiNexus
 
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCRashishs7044
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaoncallgirls2057
 
Kenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby AfricaKenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby Africaictsugar
 
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607dollysharma2066
 
Case study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailCase study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailAriel592675
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Riya Pathan
 
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...lizamodels9
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCRashishs7044
 
Market Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMarket Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMintel Group
 
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Servicecallgirls2057
 
Annual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesAnnual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesKeppelCorporation
 
Islamabad Escorts | Call 03274100048 | Escort Service in Islamabad
Islamabad Escorts | Call 03274100048 | Escort Service in IslamabadIslamabad Escorts | Call 03274100048 | Escort Service in Islamabad
Islamabad Escorts | Call 03274100048 | Escort Service in IslamabadAyesha Khan
 
Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Seta Wicaksana
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCRashishs7044
 
Buy gmail accounts.pdf Buy Old Gmail Accounts
Buy gmail accounts.pdf Buy Old Gmail AccountsBuy gmail accounts.pdf Buy Old Gmail Accounts
Buy gmail accounts.pdf Buy Old Gmail AccountsBuy Verified Accounts
 
Intro to BCG's Carbon Emissions Benchmark_vF.pdf
Intro to BCG's Carbon Emissions Benchmark_vF.pdfIntro to BCG's Carbon Emissions Benchmark_vF.pdf
Intro to BCG's Carbon Emissions Benchmark_vF.pdfpollardmorgan
 
Future Of Sample Report 2024 | Redacted Version
Future Of Sample Report 2024 | Redacted VersionFuture Of Sample Report 2024 | Redacted Version
Future Of Sample Report 2024 | Redacted VersionMintel Group
 

Recently uploaded (20)

2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage
 
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… Abridged
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… AbridgedLean: From Theory to Practice — One City’s (and Library’s) Lean Story… Abridged
Lean: From Theory to Practice — One City’s (and Library’s) Lean Story… Abridged
 
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
 
Kenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby AfricaKenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby Africa
 
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
 
Case study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailCase study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detail
 
Japan IT Week 2024 Brochure by 47Billion (English)
Japan IT Week 2024 Brochure by 47Billion (English)Japan IT Week 2024 Brochure by 47Billion (English)
Japan IT Week 2024 Brochure by 47Billion (English)
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737
 
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...
Call Girls In Connaught Place Delhi ❤️88604**77959_Russian 100% Genuine Escor...
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
 
Market Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMarket Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 Edition
 
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
 
Annual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesAnnual General Meeting Presentation Slides
Annual General Meeting Presentation Slides
 
Islamabad Escorts | Call 03274100048 | Escort Service in Islamabad
Islamabad Escorts | Call 03274100048 | Escort Service in IslamabadIslamabad Escorts | Call 03274100048 | Escort Service in Islamabad
Islamabad Escorts | Call 03274100048 | Escort Service in Islamabad
 
Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR
 
Buy gmail accounts.pdf Buy Old Gmail Accounts
Buy gmail accounts.pdf Buy Old Gmail AccountsBuy gmail accounts.pdf Buy Old Gmail Accounts
Buy gmail accounts.pdf Buy Old Gmail Accounts
 
Intro to BCG's Carbon Emissions Benchmark_vF.pdf
Intro to BCG's Carbon Emissions Benchmark_vF.pdfIntro to BCG's Carbon Emissions Benchmark_vF.pdf
Intro to BCG's Carbon Emissions Benchmark_vF.pdf
 
Future Of Sample Report 2024 | Redacted Version
Future Of Sample Report 2024 | Redacted VersionFuture Of Sample Report 2024 | Redacted Version
Future Of Sample Report 2024 | Redacted Version
 

Investor-Relations-Presentation-2023.pptx

  • 1. Project Huelqu Pro e jec n - t C HI u M elqu - M e a n y-2C 01 IM 9 4 4 Investor Presentation 2023
  • 2. Disclaimer 2 This presentation has been prepared by Empresas GASCO S.A. for the sole purpose of providing general information about the Company and does not constitute a comprehensive analysis of its financial, commercial and competitive position. In all cases, interested parties should conduct their own independent investigation and analysis of the Company. Empresas GASCO S.A. assumes no responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, adequacy or completeness of the information contained herein. This document contains certain performance measures that may not represent IFRS definitions, such as “EBITDA” and “Net financial debt”. These measures cannot be compared with the same ones used by other companies. All forward-looking statements are based on the beliefs and assumptions of Empresas GASCO S.A.’s management and on information currently available to the Company. They may involve subjective judgement and analysis that may or may not prove to be accurate or correct. Investors should acknowledge that general economic conditions, industry conditions and other operating factors could also affect the future results of Empresas GASCO S.A. and could cause results to differ materially from those expressed in such forward-looking statements. Contacts Cristian Aguirre (CEO) caguirre@gasco.cl Rodrigo Baeza (CFO) rbaeza@gasco.cl
  • 3. 1. Empresas GASCO S.A. at a glance 2. Business Overview 3. LPG Business 4. Financial Results 5. Innovation
  • 4. 90% Businesssegments 4 89.2% 10.8% Perez Cruz Family Others Notes: - Empresas GASCO S.A. (holding) is considered within the Energy Solutions Chile business segment - Gasco Magallanes is a business unit of Empresas Gasco S.A. - Vidagas y Unigas are commercial brands belonging to Inversiones GLP S.A.S. E.S.P. - HY2ALL SPA do not consolidate. - In October 2023 the purchase of the remaining 50% of Copiapo Solar was concluded. - In August 2022, the purchase of the remaining 50% of Inersa and TGC was concluded. LPG PROCUREMENT ENERGY SOLUTIONS INTERNATIONAL ENERGY SOLUTIONS CHILE 100% Listed on the Santiago Stock Exchange 1,839 Employees 33,33% 28.33% Empresas Gasco Colombia
  • 5. 1,603 km of NG pipelines in Magallanes Overview 5 Founded in 1856, Empresas GASCO is a leading Chilean conglomerate dedicated to integrated energy solutions and gas commercialization 27% LPG distribution market share in Chile Financial Indicators 479 millions m3 m3 of NG combinedsales in Chile US$ 74 million EBITDA US$ 67 million CAPEX US$ 16 million Net Profit US$ 178 million Net Financial Debt December 2022 511 thousand tons tons of LPG combinedsales in Chileand Colombia 487 millions m3 m3 of NG combinedsales in Chile December 2023 US$ 91 million EBITDA US$ 56 million CAPEX US$ 21 million Net Profit US$ 163 million Net Financial Debt 494 thousand tons tons of LPG combinedsales in Chileand Colombia Operational Indicators December 2023 26 distribution centers 22 owned bottling plants 19% LPG distribution market share in Colombia The seaborne international procurement of LPG is carried out directly by Gasco GLP since 2023 once Gasmar was divested Notes: 1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023). 51 MW Installed capacity (1) (1) (1) (1) (1) (2) (2) (1)
  • 6.  Stable and resilient business as demonstrated in particular during COVID-19  Increasing volumes from the energy solutions approach with industrial clients demanding additional volumes  Strong customer satisfaction from innovative solutions such as Gasconnect (60% reduction in the delivery time of gas)  Experienced top management team with 18 years of experience on average in the Oil & Gas and Energy industries (both in the private and public sectors), able to effectively execute the Company’s revised long term strategic plan  Strong local shareholder, The Perez Cruz Group is present in the energy business, real estate, wine and fruits production  First mover energy solutions provider (use of gas to provide value added products and services to its customers)  Strong presence in the central area of Chile with a 34% market share in LPG distribution in the Metropolitan Region, where ~45% of the Chilean population lives, and 27% market share on a national basis  #2 largest LPG distributor in Colombia with a 19% market share on a national basis  Sole natural gas distributor in the Magallanes Region (Chile)  Attractive industry fundamentals: stable market with vast opportunities to replace crude oil refined products energy sources with LPG  Diversification opportunities in the power generation sector, leveraging on Empresas Gasco’s LPG positioning and facilities  Industrial segment development: primary energy displacement from refined products through LPG based energy solutions including steam, heat, and refrigeration among others  Strong competitor in geographic areas where the natural gas is less competitive due to larger capex requirements 6  Both Chile and Colombia, OECD members, have market driven policies and friendly business environment, with focus on renewable energy MARKET ORIENTED POLICIES WITH A FOCUS ON RENEWABLE ENERGIES LEADING MARKET POSITION AS AN ENERGY SOLUTIONS PROVIDER ATTRACTIVE GROWTH POTENTIAL HIGHLY QUALIFIED MANAGEMENT TEAM RESILIENT BUSINESS WITH INNOVATIVE SOLUTIONS $ KeyBusinessHighlights
  • 7. Gasco was awarded to provide heat from solar source to the mining company BHP. Acquisition of the remaining 50% of Copiapó Solar . Establishment of the brand Stake increase in Gasmar up to 64% Gasco’s spin-off agreement between GNF and PCG Stake increase in Unig a s reaching 100% Established Over168yearsofhistory 7 1856 1977 1981 1995 2004 2010 2014 2011 2016 2015 2018 2019 Constitution of Compañía de Gas de Santiago Compañía General de Electricidad (CGE) becomes Gascos’s controller Gas distribution in Magallanes Region Metrogas incorporation with a 40% stake owned by Gasco Sale of 24% stake in Gasmar to Abastible (51% - Gasco) Beginning of LPG operations in Colombia with the acquisition of 70% in Inversiones GLP Acquisition of 70% in Unigas through Inversiones GLP Acquisition of CGE by Gas Natural Fenosa Grupo Perez Cruz reached a 94% stake after launching a tender offer for 78% stake of Gasco Established Irsa Established asco Luz Acquired the remaining 30% of Vidag as reaching 100% of the ownership Established Stake decrease in Gasco reaching 90% Newly created companies as part of the Energy Solutions strategy Sale of the participation of 64% in Gasmar 2017 2020 2021 Spin-off of Real Estate assets into a separate company to be listed on the Santiago Stock Exchange Established Established Sale of 50% stake in 2022 Acquisition of the remaining 50% of Inersa and TGC was concluded. 2023
  • 8. 1. Empresas GASCO S.A. at a glance 2. Business Overview 3. LPG Business 4. Financial Results 5. Innovation
  • 9. AleadingenergysolutionsconglomerateinChile&Colombia 9  Founded in 1856, Empresas GASCO is a leading Chilean energy solutions conglomerate listed on the Santiago Stock Exchange  The Company’s business model integrates supply activities, logistics management, gas commercialization and integrated energy solutions  Presence in both mid stream and down stream segments  Current activities: imports of gas (LPG and NG), storage, bottling plants, transportation, commercialization of both LPG and NG as primary energy or energy solutions  The company has set a long term strategic plan to evolve from a pure gas player to an energy solutions company  Ongoing and new projects include LPG based power generation plants, solar plants, and LPG import terminals I XV II IV VI VII VIII IX XIV X XI XII V RM GASCO GLP SA Innovación Energía SA Terminal Gas Caldera SA III GASCO Luz Copiapo Solar GASCO Magallanes Both Geographical footprint Overview Key financials SALES VOLUME 2023 LPG tons 511k EBITDA 2023 US$ 91m 75% 25% 85% 15% Notes: 1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023).
  • 10. Subsidiariesandbusinessunits 10  Location: Chile, all regions except the XII region  Line of business: Import, storage, operation, trading, distribution and commercialization of LPG in Chile  Capacity: 7 bottling plants 12 distribution centers  On February 15th 2023 GASCO GLP received the first 45,000 tons propane vessel directly imported by the company with Gasmar as a long term partner providing terminal operation services.  Location: Chile, Magallanes Region  Line of business: Distribution and commercialization of LNG and LPG in the XII Region  Regulated market: Residential, Commercial and Edelmag (Power generation and distribution)  Capacity: 2 bottling plants Over 1,603 km of NG pipelines  Location: Present in 28 of the 32 departments in Colombia  Line of business: Import, storage, operation, distribution and commercialization of LPG in Colombia  Capacity: 13 bottling plants 14 distribution centers  The investment in the Puerto Bahía LPG terminal ensures a stable and reliable supply of LPG, reducing dependence on Ecopetrol Notes: 1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 2) Balance Sheet consolidated figures converted at CLP $ per USD (as of Dec 2023).
  • 11. 11  Location: various locations throughout Chile and Colombia  Line of business: Power generation through solar panels. Distributed Generation under the Net Billing scheme allows regulated customers to offset their electricity expenses, using the production of the photovoltaic system on site and injecting the surplus into the national grid  Generation Capacity: >32 MW (2023) >90 MW (2028)  Compensation structure:  Income from the sale of energy, leveraging its current and future customer base (schools, wineries, agricultural customers, among others)  Location: one solar plant in the Atacama region, one of the areas with the highest solar radiation in the world  Line of business: Energy generation, the construction of solar assets in the north of Chile will allow to sell energy at competitive prices and participate in the large-scale VRE market  Capacity: 150 MW in 2025-2026 8.7km of transmission lines  Compensation structure:  Payments for the sale of energy to the National Electric System (Spot, regulated tenders, non-regulated customers, among others)  Location: LPG backup plant located in in Teno (Maule Region) and Puerto Williams (Magallanes Region), Chile  Line of business: Complement the intermittency of non-conventional renewable energy with a stable backup energy supply based on LPG and provide Off Grid energy to customers complementing in this way the traditional business of Empesas Gasco  Capacity: 45 MW in Teno (since 2020) 6 MW in Puerto Williams (Since 2022) 26 operating engines each with 1.72MW capacity in Teno, and 2 operating engines each with 6MW in Puerto Williams  Compensation structure:  Payment for power for backup capacity and Power Generation Subsidiariesandbusinessunits Notes: 1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 2) Balance Sheet consolidated figures converted at CLP $ per USD (as of Dec 2023).
  • 12. Ambitioustransformationintoaenergysolutionscompany 12 Strategic targets Extend the LPG business model to an energy solutions supply Sustainable energy supply through VRE as a complement to LPG Access to competitive LPG prices Digitalization of the energy supply value chain Extend business model to Colombia and Magallanes Development of an effective organization  Construction of additional storage capacity and LPG terminals  Larger capacity allows greater imported volumes and flexible supply at a better price  Digital technology to improve integration with customers offering LPG at the most competitive price and on a flexible way  Gasconnect is a tangible example of technology implementation to strengthen and integrate each stage of the value  Corporate governance strengthening the engineering capabilities and energy expertise EmpresasGASCO’s goalis to positionitselfasaleaderinthedevelopmentofenergysolutions supportedbygasandincomplementaritywithotherrenewableenergies  Build new infrastructure to secure a stable and flexible LPG supply  Expand the products' offer and solutions for Empresas GASCO’s customers  Develop LPG power generation assets  Competitive advantages to develop VRE as a complement to LPG power generation  Competitive import of LPG together with enhanced logistics capabilities allows Empresas GASCO to offer competitive VRE to the market  Target new industrial clients offering energy solutions rather than only gas (ex: heat, steam, electrons)
  • 13. 1. Empresas GASCO S.A. at a glance 2. Business Overview 3. LPG Business 4. Financial Results 5. Innovation
  • 14. WhyChile&Colombia? Colombia Chile 1,358 Tbtu Favorable market context in a country highly dependent on imports of energy resources 6% of the secondary energy consumption in 2022 was fulfilled with LPG. High opportunity to displace biomass, kerosene, diesel, and fuel oil use High intermittence due to large pipeline of photovoltaic and wind projects present an attractive opportunity for LPG back-up power generation Relatively small LPG participation in the energy matrix: opportunities to displace highly polluting fuels Only 2% of the secondary energy consumption in 2022 was fulfilled with LPG Gasco purchases most of its LPG from Ecopetroll’s Cusiana gas field and refineries Direct imports from the US Gulf Coast and unloading at the Okianus Terminal in Cartagena in which the company has a 20% stake 1,916 Tbtu Secondary energy sources (2022) Diesel 31% Fuel oil & Kerosene 6% Gasoline 13% Coal 1% Biomass 13% Electricity 24% Natural Gas 7% Secondary energy sources (2022) LPG 6% Diesel 20% Electricity 17% Biomass 8% Natural Gas 15% Gasoline 19% LPG 2% Others 19% 2marketswithattractive growthprospects 14 Source: National Energy Balance 2022, Ministry of Energy of Chile Source: National Energy Balance 2022, Ministry of Energy of Colombia Sales Volume (‘000 tons) 345 366 368 382 107 124 126 129 0 100 200 300 400 500 600 2020 2021 2022 2023 Chile Colombia
  • 15. Gas value chain 15 > > > > > > > > > > > > > > Maritime LPG Import Onshore LPG Import Domestic LPG supply Wholesale storage Truck Pipeline Storage and distribution plant Bulk Cylinder City gate Distribution grid Residential, commercial, Real Estate Industrial Agro-industrial Electric generation Forklifts Institutional Truck Refinery Natural gas extraction and separation Mid stream Down Stream Gasconnect + Credit to customers + Direct sale (call center) + Sub retailers Domestic NG supply Energy Solutions > Pipeline > Storage and distribution plant Domestic LPG supply > > > > > > Truck Pipeline Bulk Cylinder > > Divested
  • 16. 22plantsand26distributioncentersinChileandColombia 16 Chile Colombia El Belloto’s Plant DC Iquique Maipú’s Plant Talca’s Plant Osorno’s Plant Coyhaique’s Plant Mejillones’ Plant Bio Bio’s Plant DC Calama DC Antofagasta DC Copiapó DC Coquimbo DC Valparaíso DC Rancagua DC Chillán DC P. Montt DC Eyzaguirre DC B. Mercado Bello’s Plant Cartagenas’s Plant Chiquinquirá’s Plant Manizales’s Plant DC Valledupar Villanueva’s Plant Pitalito’s Plant Cúcuta’s Plant Bucaramanga’s Plant Yumbo’s Plant DC Caucasia DC Santa Rosas de Osos DC Barranquilla DC Popayán DC Armenia DC Santa Rosa de Cabal DC San Gil DC Sincelejo DC Buenaventura Puerto Salgar’s Plants (2) Fusagasuga’s DC Siberia’s Plant  7 Plants (GASCO GLP S.A.)  2 Plants (GASCO Magallanes)  12 Distribution Centers  1,603 km of NG pipelines in Magallanes  13 Plants  14 Distribution Centers Distribution Centers Plant Distribution Centers Plant Morelia Plant DC Temuco Cabo Negro’s Plant Puerto Williams’ Plant DC Guarne DC Apartadó DC Puerto Asís
  • 17. LPGBottlingBusinessinChile 17 Annual Growth -0.7% -8.2% -0.9% +4.9% -3.9% 18 120 45 39 221 17 110 44 41 213 - 50 100 150 200 250 North Metropolitan Region Center South South National Total Sales 2022-2023 (‘000 tons) 2022 2023
  • 18. 34% 42% 24% 2019 Ton: 22,924 42% 40% 18% 2020 Ton: 25,025 40% 33% 27% 2021 Ton: 26,219 Fuel replacement New assets Captured from competitors LPGBulkbusinessandenergysolutionsnewcontractsinChile Gasco has been constantly attracting new volume through its value added sustainable energy solutions, largely displacing the use of more contaminants fuels. 18 24% 33% 43% 2022 Ton: 22,170 29% 32% 38% 2023 Ton: 16,574
  • 19. Historical performanceofvolumen’ssales-Chile Cylinders’s volume (Tons) & margin (CLP/Kg) Bulk’s volume (Tons) & margin (CLP/Kg) Transport’s volume (Tons) & margin (CLP/Kg) Energy Solutions’s volume (Tons) & margin (CLP/Kg) CAGR 19-23 -0.9% CAGR 19-23 10.5% CAGR 19-23 -16.6% 19 CAGR 19-23 21.6% Notes: Volumes include a total of 3k tons equivalent of compressed natural gas sales 220,348 233,966 236,791 221,039 212,522 307 308 299 285 307 2019 2020 2021 2022 2023 94,542 86,253 101,271 115,698 141,141 499 515 493 494 487 2019 2020 2021 2022 2023 10,427 16,861 25,058 26,413 22,834 67 51 32 52 (12) 2019 2020 2021 2022 2023 12,742 8,389 7,307 8,099 6,661 87 87 96 107 129 (100) (50) - 50 100 150 2019 2020 2021 2022 2023
  • 20. 13% 4% 83% LPGsourcingfor Chile starting 2023 20 Argentina Distribution Centers Plant Terminal Quintero Terminal Mejillones  GASCO GLP signed a 20 years Terminal Use Agreement (TUA) with Gasmar for the use of both the Quintero and the Mejillones terminals  This TUA includes:  A variable rate per ton  A fixed rate per annum  A fixed storage rate per annum TUA with Gasmar  GASCO GLP developed during 2021 and 2022 a strategy for the imports of LPG, considering all relevant variables and actors  During 2023 GASCO GLP received six propane vessels (45,000 Tons each) directly imported by the company beginning a new stage in the business model with Gasmar as a long term partner providing terminal operation services LPG Purchase December 2023 374k tons Argentina ENAP TUA TUA GASCO GLP direct imports (since 2023)
  • 21. GASCOprocessesLPGat several plantsalongthecountry 1 7 2 3 4 5 6 Plant Capacity Cylinders / Bulk Main products Construction’s year 1 Mejillones 120 / 200 tons Cylinders / Bulk 2011 2 El Belloto 250 / 300 tons Cylinders / Bulk 1996 3 Maipú 1,500 / 2,300 tons Cylinders / Bulk 1964 4 Talca 180 / 250 tons Cylinders / Bulk 1996 5 Bio Bio 170 / 300 tons Cylinders / Bulk 2015 6 Osorno 130 / 200 tons Cylinders / Bulk 1994 7 Coyhaique 30 / 30 tons Cylinders / Bulk 2009 Total Cylinders / Bulk 2,380 / 3,580 tons 21
  • 22. 1. Empresas GASCO S.A. at a glance 2. Business Overview 3. LPG Business 4. Financial Results 5. Innovation
  • 23. 1.3x Consolidatedhistorical performance 23 EBITDA (US$m) Net Debt (US$m) Net Debt to Ebitda & Equity CAPEX (US$m) 3.25x Covenant Net debt / EBITDA Covenant Net debt / Equity Gasmar divestment Gasmar divestment Notes: 1) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 2) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023). 0,72 0.92 0.19 0.41 0.36 2.25 2.36 1.13 2.40 1.87 2019 2020 2021 2022 2023 Net Debt/Equity Net Debt/Ebitda 55 60 14 20 31 60 57 60 55 60 114 117 74 74 91 2019 2020 2021 2022 2023 Rest of Empresas GASCO Group GASCO GLP 211 227 38 117 111 46 48 45 62 52 258 275 84 178 163 2019 2020 2021 2022 2023 Rest of Empresas GASCO Group GASCO GLP 19 28 18 26 27 33 34 42 41 29 52 63 60 67 56 2019 2020 2021 2022 2023 Rest of Empresas GASCO Group GASCO GLP
  • 24. Consolidatedfinancial debt 24 December2023 ~US$203m ~US$203m ~US$203m ~US$203m ~US$203m US Dólar 7% COP 4% CLP 27% UF 62% Internacional Energy Solutions 4% Chile Energy Solutions 89% Leasing 7% Bank Debt 31% Bond 62% Short Term 15% Long Term 85% Variable rate 30% Fixed rate 70% Credit risk profile Debt amortization (US$m) (1) Notes: 1) Sum from 2030 to 2039, US$ ~5,7 million each year. 2) P&L consolidated figures converted at CLP$839,79 per USD (AVG 2023). 3) Balance Sheet consolidated figures converted at CLP $877,12 per USD (as of Dec 2023). Electrical Bussines 7% A+ (Stable) – Local Rating BBB- (Stable) – International Rating AA- (Stable) – Local Rating 25 27 32 5 2 49 58 2024 2025 2026 2027 2028 2029 2030-2039 Empresas Gasco Gasco GLP Colombia Inersa
  • 25. 1. Empresas Gasco S.A. at a glance 2. Business Overview 3. LPG Business 4. Financial Results 5. Innovation
  • 26. Innovationsprojects 26 HIF (Highly Innovative Fuels)  Location: Magallanes Region and Chilean Antarctica  Business line: Empresas GASCO will contribute US$3.0m to HIF so that it can develop Renewable Liquefied Gas (RLG) Gasconnect  Location: Several Regions Chilean regions  Objective: The fastest way to deliver cylinders, based on mobile technologies, integration with the distribution network  Winner of the global technology conference 2020 innovation award Gasco Marine: Salmon Aysen project  Location: South regions of Chile  Business line: The project aims to replace diesel with liquefied gas for the power generation on the mobile platforms used to feed and control.  Gasco wins AI - Oil & Gas award at the Middle East Technology Excellence Awards 2021 HY2All SpA  GASCO, HyNewGen, Linde, Vopak and the Port of Rotterdam are concluding a feasibility study for the development of a 200 to 500 MW green hydrogen Project in Chile (MOU signed in 2021)  The next steps involve conceptual studies on the production and logistics capabilities to export to Europe BHP  Location: Antofagasta Region  Business line: Empresas Gasco will generate renewable heat for the electrowinning stage within the copper cathodes production process setting an important milestone for the mining industry and the company. AMSA  Location: North of Chile  Business line: The project aims to heat the heap leach within the copper obtention process.
  • 27. Awards&Distinctions 27 Best digital solution award granted to Gasconnect by the C3 Creativity and Innovation Ranking of Brinca Consultants and the Universidad del Desarrollo National Customer Satisfaction Award in the gas sector awarded by Procalidad, Adolfo Ibañez University and Praxis Costumer Engagement First place in the National Procalidad Customer Satisfaction Award in the cylinder segment awarded by Praxis Costumer Engagement Echo Latam awards 2018 for marketing campaigns associated with Gasconnect and “Terraza Gasco” Winner of the Global Technology Conference 2020 innovation award for the “Gas Connect” application First place in the National Procalidad Customer Satisfaction Award in the cylinder segment awarded by Praxis Costumer Engagement First place in the Most Innovative Companies Chile Ranking awarded by the ESE Business School of the Universidad de los Andes Winner of the "Commitment to Integrity" award given by the Fundación Generación Empresarial and Diario Financiero Winner of the “Applications” Category Award at the Global Technology Awards for a project applied to pontoons First place in the National Procalidad Customer Satisfaction Award in the meter segment awarded by Praxis Costumer Engagement Winner of the "Best Chilean Companies" award given by Deloitte, Banco Santander and the Adolfo Ibáñez University Business School. Winner of the “KAIZEN™ Award Chile” for its maturity in Operational Excellence under the KAIZEN™ and Lean® Philosophy Recognition for "Commitment to Integrity" and promting good practices given by the Fundación Generación Empresarial Distinction as one of the best paying companies in the energy sector awarded by Bolsa de Productos and the Asociación de Emprendedores First place in the National Procalidad Customer Satisfaction Award in the meter segment awarded by Praxis Costumer Engagement Winner of the "Best Chilean Companies" award given by Deloitte, Banco Santander and the Adolfo Ibáñez University Business School.

Editor's Notes

  1. Corroborar información presentación Colombia