corporate presentation - terpel...2018/05/04 · iso 14001 ntc 2218 ntc 1399 ntc 1295 ntc 3382 onac...
TRANSCRIPT
Corporate
Presentation
Organización Terpel S.A.
March 2018
2
Organización Terpel, much more than fuel
1st Fuel distributor
in Colombia
43% Market Share*
1st Service Station
network in
Colombia
2.008 SS Fuel + VNG
5 Countries in
which Terpel
has presence
$15 $COP Trillion
Consolidated
Revenue Dec. 2017
2,5 Billion Gallons
Consolidated
Volume Dec. 2017
$690 $COP Billion
Consolidated
EBITDA Dec. 2017
(*) Source: Issuer’s calculation based on volume reported by Colombian Ministry of Treasury and Public Credit
Tax Support Direction Office, through the collection of overall surcharge tax. Figure includes volume of Large
Consumers Non-Intermediaries (LCNI) and Imports. Figures as of December 2017.
AAA Terpel’s
bonds risk
rating Fitch Ratings
S&P
$2,6 $COP Trillion
Market
CapitalizationDec. 2017
3
Merger of Terpel regional
companies and Gazel acquisition.
More than 49 years providing Colombia
mobilization solutions
Terpel fundation
Terpel regional companies foundation,
1st lubricants factory, Entrance to
aviation and marine sectors.
Establishment of Organización
Terpel (OT), Establishment of SIE.
Ecomex & Lutexsa acquisition
Petrolera Nacional and
Repsol YPF Chile acquisition.
COPEC acquires control.
OT – Gazel merge, Entrance to Dom.
Republic aviation market.
1st Bonds Issuance, Terpel Centro,
SIE and Proenergía merger, Terpel’s
share listed in BVC.
2nd Bonds Issuance
1972
1993
2000
2001
2004
2006
2007
2008
2009
2010
2011
2012
2013
2014
2017
1968
2015
2016
Mexico (Ecomex) sale
ExxonMobil acquisition pending for approval from
Industry and Commerce Superintendence
4
Inversiones Valín Radysade
Fdo. Pensiones Protección
Inversiones Organización Terpel Chile
S. A.
Lutexsa S.A
Adesgae Cía Ltda.
Noliber S.A
Organización Terpel Chile
S.A
Gazel Perú S.A.C
Organización Terpel
Coporation (Islas Vírgenes)
Petrolera Nacional S.A
(Panamá)
VonPort
Masser
Orlyn S.A Transmarine
Transport Fuel
Petroleum
Organización Terpel
Republica Dominicana
Terpel Energía S.A.S
Wayco Int Palmares 77 SAS
Morgan Stanley
Otros Accionistas
Ownership structure
2,8% 2,4% 2,6% 2,4% 2,6%
25,6%
58,5%
99% 99% 99% 99% 99% 100% 99%
99%
99% 99%
100% 100% 100% 100%
100%
3,1%
Corporate Structure as of 31st December 2017
5
COPEC one of the biggest companies in Chile, main investor and
a long term player
39,79%
6
Best infraestructure
Best price Best service
Pillars of our corporate strategy
Making people the center of our strategy has driven the progress
in transforming oil and gas distribution sector. We generate
memorable experiences throughout our business lines in order to
become the number one brand in costumers heart.
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Regional presence
No. No. No. Ranking% Market
Share*
Business
Lines
39% Liquid
46% VNG
81% Aviation
131 -- 33 2 23%
-- 5 -- 2 32%
58 -- 5 5 6%
38*** -- 11 2 12% VNG
VNG-Liq Fuels-LPG
12.008** 20 40
(*) Source: Terpel Dic-17; Colombia Oct-17; Peru: share in Lima market
(**) 1903 liquid fuel SS (232 owned) and 287 VNG SS, (182 SS sale both liquid fuels and VNG)
(***) 35 VNG SS, 12 liquid fuel SS y 15 LPG
No. SS Dic-16: Colombia-> 1986, Panama-> 127, Ecuador-> 58, Mexico-> 8, Peru-> 38
No. Conv. Stores Dic-16: Colombia-> 32, Panama-> 27, Ecuador-> 5, Peru-> 6
NOTE: Results from Mexico were consolidated until September 2017. At that time the operation was sold.
TERPEL IN
COLOMBIA
9
(*) Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall
surcharge tax. Service Stations, Industry and Aviation figures as of December 2017. Historical figures were restated including
LCNI and Imports in market volume.
(**) Source: Issuer’s calculations. Figures in equivalent gallons. Figures as of December 2017.
Terpel remained as the leader company in the fuel distribution
industry in Colombia
TERPEL MARKET SHARE*
2017 liquid fuels volume sales
TERPEL VOLUME GROWTH Vs. MARKET*
GAZEL MARKET SHARE**
2017 VNG volume sales
GAZEL VOLUME GROWTH Vs. MARKET**
10
Service Stations (SS)
Market leader with 46% in VNG, 40% in gasoline and 38% in Diesel.*
More than 262 SS were remodeled with new image. In total, 1.158 SS have the new brand image.
Largest distribution network of liquid fuels and VNG in Colombia (2.008 SS**)
Wide national coverage: operation in 30 Colombian regions.
Conversion to VNG in exchange for consumption through a Financing Program.
Pioneer in decentralized supply and centralized billing model through a chip offered in an interconnected network of about 550 liquid fuel SS and 280 VNG SS.
It represents 73% of volume and 67% of CAPEX in Colombia.
* Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall
surcharge tax. Figures as of December 2017. Ii includes volume of LCNI and Imports.
** 1.903 liquid fuel SS (232 owned) and 287 VNG SS, (182 SS sale both liquid fuels and VNG)
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Bathrooms, a wide network of ATMs, flat
tire service, additives and other products
that complement Terpel services.
Suplementary Services
The convenience store’s network with greater coverage in the
country.
A new model of convenience stores that offers a unique experience
offering traditional local food products in each region. Wide portfolio of
services: food, restrooms, Wi-Fi, playground and rest areas.
12 Ziclos for vehicles: A modern, agile and
innovative system of auto-car wash.
7 Deuna: Kiosks located close to the pump. This is a fast service
provided through tablets where costumers can buy snacks and other
products while pumping.
40 Altoque Stores
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ICONTEC certified plant (ISO 9001, ISO 14001, ISO 18001, IQNET, ICONTEC)
Accredited laboratory that complies with ISO/IEC 17025 international standards.
Automotive lubricants with state-of-the-art technology and environmental benefits.
Lubricants portfolio customized to each kind of vehicle that offers innovation and high technology to customers: Terpel Maxter, Terpel Oiltec y Terpel Celerity.
Invention patent for Terpel Celerity product: “synthetic base lubricants composition that allows to generate a higher performance for the engine”.
It represents 0,5% of volume and 4% of CAPEX in Colombia.
Lubricants
Lubricants Plant certifications
ISO 9001
2015 ISO 14001
2015
NTC 2218
NTC 1399
NTC 1295
NTC 3382
ONAC ISO/IEC 17025
2005 Rating
100%
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Industrial costumers
Wide portfolio of products and integrated services including programs focused on security and environmental impact prevention as well as optimization of customer’s operation.
Fuel supply to approximately 422 costumers.
It represents 8% of volume and 3% of CAPEX in Colombia.
Focus on mining, petroleum, transportation, construction and agro-industry industries.
Fuel supply to industrial costumers through internal facilities.
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Aviation
(*) Source: Issuer’s calculations based on Ecopetrol information as of Dec.17.
Market leader with 81% market share*.
Supply of JET A1 and Avgas in 20 Colombian airports .
Principal supplier for El Dorado airport through Allied company as the operator.
IATA (International Air Transportation Association) strategic partner, as a result of safe and reliable operations.
Pioneer in Latin America with certifications in quality, security and environment. NORSOK S-006 Norwegian certification in industrial security, occupational health and environmental management.
It represents 18% of volume and 6% of CAPEX in Colombia
15
Marine
Terpel is participating in the supply of bunker fuels for large cargo vessels arriving to Colombian seaports.
This is a growing market in which Terpel begun operations. At the end of 2016 it represented 0,5% of total volume.
Colombian Seaports
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Certifications
Leader in sustainability at a global level as a
Terpel training schools
Terpel is compromised with sustainable development
Terpel is not only a shareholder’s asset, it is also an asset to all of its related interest groups since it
recognizes the importance of growing all together in order to pursue a better future.
INITIATIVES / PROGRAMS / CERTIFICATIONS SUSTAINABLE MANAGEMENT MODEL
TERPEL’S
SUSTAINABLE
MANAGEMENT
MODEL
REFLECTS
THAT
STRATEGY IS
FOCUS ON
PEOPLE
result of the
evaluation conducted
under Dow Jones
Sustainability Index
(DJSI).
ISO 9001
2015
ISO 14001
2015 OHSAS 18001
2007
Aviation 99%
Lubricants 100%
NTC 2218
NTC 1399
NTC 1295
NTC 3382
ONAC ISO/IEC 17025
2005
Rating 90%
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Terpel’s senior management experience in the industry
Daniel Perea Corporate & Legal AffairsVP
12 years
Sylvia Escovar President
15 years
Maria Mercedes Carrasquilla Human & Administrative Resources VP
5 years
Kenneth Siefken Marketing VP
16 years
Oscar Bravo Corporate Finance VP
13 years
Tony Quintero Commercial VP: Fuels
20 years
Juan Pablo Giraldo International VP
10 years
José Carlos Barreto Operations & Logistics VP
11 years
Rodrigo Ferreira Lubricants VP
20 years
Organizational Structure as of 31st December 20|7
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Corporate Government structure
Audit and
Corporate
Governance
Committee
Compensation
and Benefits
Committee
7 Main Members
Lorenzo Gazmuri Schleyer
Jorge Andueza Fouque
Ramiro Méndez Urrutia
Leonardo Ljubetic Garib
Jorge Alberto Bunster Betteley
José Oscar Jaramillo Botero
Bernardo Dyner Rezonzew
GENERAL SHAREHOLDERS ASSEMBLY
PRESIDENT
Tax
Auditor
Internal
Auditor
Compliance
Officer
BOARD OF DIRECTORS
Control bodies
Terpel’s Corporate Government is
based on procedures that ensure
an appropriate governability and
it is also based on an ethical auto-
regulation.
External
Auditor
Colombian Financial
Superintendence Board of directors as of 31st December 20|7
FINANCIAL
INFORMATION
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Consolidated operational results
VOLUME SALES PERFORMANCE
Million Gallons
VOLUME SALES BREAKDOWN
PER COUNTRY 2017
EBITDA PERFORMANCE COP$ Billion
EBITDA BREAKDOWN PER COUNTRY 2017
NOTE: Results from Mexico were consolidated until September 2017. At that time the operation was sold.
21
Regional value generation
EBITDA Vs. VOLUME
COP$ Billion Vs. Million Gallons
NOTE: Results from Mexico were consolidated until September 2017. At that time the operation was sold.
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CAPEX BREAKDOWN PER BUSINESS LINES
Expansion strategy has strengthen Terpel’s position in
the Market CONSOLIDATED CAPEX
$COP Billion
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 and vehicles conversion to VNG.
CAPEX BREAKDOWN PER COUNTRY
NOTE: Results from Mexico were consolidated until September 2017. At that time the operation was sold.
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Debt indicators
DEBT*/EBITDA PERFORMANCE EBITDA/INTERESTS PERFORMANCE
NOTE: Results from Mexico were consolidated until September 2017. At that time the operation was sold.
* Gross debt
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Contact
Considerations on the financial and operational information
The financial and operating results presented in this document correspond to the Terpel Organization and
its subsidiaries according to International Financial Reporting Standards (IFRS). The individual results of the
subsidiaries are reported without intercompany eliminations, therefore, the sum of individual results may
not correspond to the consolidated results.
Given the merger process, conducted in August 2014, the Consolidated Financial Statements prior to that
date included the Sociedad de Inversiones en Energía. Of such way that, by December 2013 Consolidated
Financial Statements are taken of the Sociedad de Inversiones en Energía, comparable to the consolidated
one to December 2014 from Terpel fused with SIE, Proenergía and Terpel Centro.
The information contained in this document does not commit nor suggest any investment decision.
Investors contact