Corporate Presentation August, 2014

Size: px
Start display at page:

Download "Corporate Presentation August, 2014"

Transcription

1 Corporate Presentation August, 2014

2 Evolution of ISA The Colombian Government endorses establishment of ISA to develop high-voltage energy transmission and generation projects. ISA operates the first regional integration system at 230 kv (537 km). ISA puts in operation the Central Network at 230 kv (537 km). ISA ventures into the energy generation business. ISA operates Chivor Hydroelectric Plant (1.000 MW). ISA commissions the first stage of San Carlos Hydroelectric Plant (620 MW). ISA operates the National Telecommunications and Control Center ISA operates the interconnection between the country s central and the Atlantic coast regions (500 kv). ISA concludes development of the hydroelectric complex in the Eastern region of Antioquia province: San Carlos, Jaguas and Calderas (1.428 MW). The State acquires 51% ownership of ISA. ISA operates the Colombia-Venezuela international interconnection (230 kv). The Shareholders Meeting approves spin-off of ISA and establishment of ISAGEN S.A. E.S.P with the generation assets Beginning of the Wholesale Energy Market, the Energy Pool and the Commercial Settlement System. The Shareholders s Meeting approves legal transformation of ISA into a State Industrial and Commercial Company with authorization to attract private capital. Venture intothe telecommunications market as carrier s carrier. ISA operates the Colombia - Ecuador international interconnection (230 kv) Acquisition of 65% of energy transport assets of CORELCA. Establishment of TRANSELCA (Colombian Atlantic Coast). ISA commissions the satellite network and second stage of the fiber optics project. 2

3 Evolution of ISA First public listing program - ISA, Shares for All new shareholders and 115 million shares sold. Entrance to international markets after winning public bidding in Peru to build 373 km of lines and expand substations. Beginning of commercial operation of INTERNEXA, the telecommunications subsidiary that provides carrier s carrier services in Colombia. Installation of Arcos undersea cable to interconnect Colombia with North, Central and South America and the Caribbean (8.600 km of fiber optics). Filing as economic group with ISA as parent company, Transelca, Internexa and First Mark Communications Co. as subsidiaries, and ISA Perú as affiliate Second offer of shares of the program ISA, Shares for All. 120 million shares sold to Colombians. Construction, in association with Transelectric, of international interconnection at 230 kv between Colombia and Ecuador. The Peruvian Government awards concession for electric transmission systems (ETECEN and ETESUR). Establishment of Red de Energía del Perú REP Beginning of operations of Transnexa, company engaged in telecommunications traffic between Colombia and Ecuador. Scheme for International Electricity Transactions TIE between Ecuador and Colombia becomes operational. ISA wins in Bolivia bidding to construct and operate five substations and three energy transmission lines (604 km). Establishment of ISA Bolivia Filing of ADR Level I with the United States Securities and Exchange Commission. REP concludes construction of Peruvian segment of the electric interconnection project integrating Peru with Ecuador. Subscription to the Global Compact promoted by the United Nations. Establishment of XM, Compañía de Expertos en Mercados S.A. E.S.P. to operate the National Interconnected System and administer the Wholesale Energy Market. Participation in Empresa Propietaria de la Red EPR (1,830 km of transmission lines at 230 kv in Central America). 3

4 Evolution of ISA Arrival to the Brazilian market with purchase of 50,1% of common shares of CTEEP through investment vehicle ISA Capital do Brasil Ltda. In association with Empresa de Energía de Bogotá, acquisition of 100% of share capital of Consorcio Transmantaro, a Peruvian energy transmission company. Consolidation of CTEEP ownership with 89,40% of common shares and 37,46% of total capital of the company. Internationalization of telecommunications business begins with establishment of INTERNEXA Perú S.A. The Board of Directors formalizes public offer of common stock (56 million shares through book building) Adoption of new corporate visual identity in accordance with the business strategy (linear infrastructure systems). CTEEP is awarded concession of Porto Velho - Araraquara 2 transmission line (2.375 km and 600 kv). ISA ADRs are quoted on international electronic platform OTCQX. INTERNEXA purchased 90% of shares of Comunicaciones Intermedias S.A., thus holding title to fiber optics networks and nodes connecting important Chilean cities. Interconexión Eléctrica Colombia Panamá S.A. ICP starts activities in Panama City, in association with ETESA S.A., seeking to make possible bi-national power integration. The Board of Directors formalizes public offer of common stock (32 million shares through book building). 4

5 Evolution of ISA The State, represented by INCO, and ISA subscribe contract to develop the Autopistas de la Montaña project. ISA shall conduct studies and develop four road corridors about km long. Subscription of incorporation deed of DERIVEX S.A., a subsidiary of XM and the Colombian Stock Exchange that administers the energy-commodities derivatives market. Formalization with Cintra Infraestructuras S.A., Ferrovial s highway subsidiary, of sale document to acquire 60% of Cintra Chile Ltda., a company controlling five highway concessions in that country. INTERNEXA purchases telecommunications connectivity infrastructure in Brazil and Argentina (6.000 km of fiber optics network). XM and ISA incorporate Sistemas Inteligentes en Red S.A.S. to carry out activities related to management, operation and administration of a mobility management center for Medellin City. ISA purchases remaining 40% of INTERVIAL CHILE. INTERNEXA developed a strategy that will permit it to become the distribution leader in Latin America of relevant digital content ISA arrives to the Chilean electric energy transport market after winning three projects totaling 743 km of 500 kv double-circuit lines. Incorporation of INTERCHILE ISA won a new bid in Peru to design, finance, build, operate and maintain the Mantaro Marcona Socabaya Montalvo transmission line at 500 kv (920 km) and its associated substations, the largest concession ProInversión had granted to this date. This project will be executed by Transmantaro. In Chile, ISA was awarded a new public international bid to design, finance, build, operate and maintain the Encuentro Lagunas project at 220 kv (174 km), which will strengthen the Chilean power system in the country s North improving service quality and reliability. The new project will be undertaken by INTERCHILE. As part of its expansion strategy to complement its value offer and expand its customer portfolio, INTERNEXA S.A., a subsidiary of ISA, acquired an information transport network company currently operating in the State of Rio de Janeiro, Brazil. The transaction totaled BRL 190 million. 5

6 Evolution of ISA 2013 ISA and its new role ISA started in 2013 a Strategic Update process which separated the corporate strategic issues in one parent company, ISA, and those related to operation and maintenance in one subsidiary INTERCOLOMBIA that will be engaged in energy transport in the country. ISA, as corporate center, will focus on the functions of guiding the group s actions, profitably administering the portfolio of growth opportunities, defining the big corporate choices, providing competitive guidance to the companies, and establishing the action framework that will characterize the management and practices to be applied in relevant processes INTERCOLOMBIA, ISA s new subsidiary, started commercial operations on January 1st. ISA, leader in pollutant emissions compensation. ISA received the CarbonNeutral Certification for having compensated its emission of greenhouse gases during 2012 through bonds purchase to South Pole Carbon, a world leader in carbon compensation. By compensating its carbon footprint in the energy transport business, ISA assumes a new environmental and social commitment. ISA wins in Peru a new public bidding to design, finance, construct, operate and maintain a 16.9 km transmission line at 220 kv to be executed by Consorcio Transmantaro CTM. 6

7 Evolution of ISA 2014 Fitch Ratings rating agency upheld the AAA (col) rating for ISA s bond program and the F1+ (col) rating for commercial papers. Additionally, Fitch Ratings International upheld the international corporate BBB rating for local and foreign currency. Outlook for all ratings remained Stable. ISA won public bidding opened by UPME for the design, procurement, construction, operation and maintenance of the connection of the Reforma substation to the Guavio Tunal 230 kv circuit, approximately 1 km in length. UPME awarded ISA, subject to revision by CREG, the project for the design, procurement, construction and maintenance of the Montería Substation at 230 kv and its associated transmission lines (195 km approx.) with connection of existing Chinú and Urabá substations. REP successfully placed corporate bonds for USD 20 million in the Peruvian capital market. ISA s company REP inaugurated an energy transmission mega work in Peru. The 325 km Trujillo-Chiclayo transmission line at 500 kv was executed by Consorcio Transmantaro. Moody s Investors Service improved from Baa3 to Baa2 ISA s issuer ratings. Simultaneously, Moody s increased ISA s basis for credit assessment BCA from Baa3 to Baa2. Outlook is stable. ISA won in Lima a new public bidding that will generate USD 5.7 million annual revenue. It comprises a 90.5 km electric line at 220 kv and a new substation at 220/60 kv. Consorcio Transmantaro CTM will execute the project. 7

8 About Us Presence in 8 countries 4 business units 33 subsidiaries and affiliates employees km of high-voltage grid in operation km under construction Transformation in operation: MVA Transformation under construction: MVA km of fiber optics in operation 907 km of road infrastructure in operation Operation coordination of km of transmission lines Mobility control for Medellín and its five townships 8

9 ISA in Latin America Business units and companies COLOMBIA ISA INTERCOLOMBIA TRANSELCA INTERNEXA XM Sistemas Inteligentes en Red Derivex, 49,95% investment through XM and 0,025% through INTERNEXA ECUADOR TRANSNEXA, 5% investment through INTERNEXA and 45% through INTERNEXA (Perú) PERU REP Transmantaro ISA Perú Proyectos de Infraestructura del Perú INTERNEXA CHILE INTERCHILE INTERNEXA INTERVIAL CHILE Ruta del Maipo Ruta del Maule Ruta del Bosque Ruta de la Araucanía Ruta de los Ríos ISA Inversiones Chile ISA Inversiones Maule ECONOMIC GROUP ELECTRIC ENERGY TRANSPORT TELECOMMUNICATIONS TRANSPORT ROAD CONCESSIONS SMART MANAGEMENT OF REAL TIME SYSTEMS INVESTMENT VEHICLE CENTRAL AMERICA EPR, ISA s investment (11,11%) Interconexión Eléctrica Colombia - Panamá, ISA investment (50%) REDCA, ISA s investment (11,11%) through INTERNEXA BRAZIL CTEEP IEMG PINHEIROS SERRA DO JAPI EVRECY INTERNEXA NQT IPNET ISA Capital do Brasil INTERNEXA Participações BOLIVIA ISA Bolivia ARGENTINA Internexa 9

10 Our shareholders Shareholding as on June 30, 2014 Investors Number of shares June 30, 2014 % State investors ,58 The State ,41 EPM ,17 State and private capital investors ,99 ECOPETROL S.A ,32 Empresa de Energía de Bogotá ,67 Private investors Institutional investors ,73 Individuals ,13 Legal entities ,17 Foreign Investment Funds ,31 ISA ADR Program ,10 Outstanding subscribed and paid share capital ,00% 10

11 Our Partners In the Electric Energy Transport companies Peru: REP y Transmantaro EEB 40% Brazil: Interligação Elétrica Norte e Nordeste S.A. IENNE CYMI Holding 25,00% ISOLUX Energía 50,00% Interligação Elétrica Sul S.A. IESUL CYMI Holding 49,90% Interligação Elétrica do Madeira S.A. IEMADEIRA Furnas Centrais Elétricas S.A Furnas 24,50% Companhia Hidro Elétrica do São Francisco CHESF 24,50% Interligação Elétrica Garanhuns S.A. IEGARANHUNS Companhia Hidro Elétrica do São Francisco CHESF 49,00% CTEEP São Paulo Secretaria da Fazenda 6,12% Centrais El Bras SA Eletrobras 35,23% Vinci Equities Gestora de Recursos Ltda 3,80% ISA Capital do Brasil S.A. (investment vehicle) HSBC Bank 17,21% Votorantim Bank 17,21% Central America: EPR INDE of Guatemala 11,11% CEL and ETESAL of El Salvador 11,11% ENEE of Honduras 11,11% ENATREL of Nicaragua 11,11% ICE of Costa Rica 11,11% ETESA of Panama 11,11% ENDESA Latinoamérica of Spain 11,11% CFE of Mexico 11,11% Colombia: Interconexión Eléctrica Colombia Panamá S.A.S ETESA: 50% Panama: Interconexión Eléctrica Colombia - Panamá ICP ETESA: 50% 11

12 Distribution of average payroll August, ,8% XM and subordinate company 7,5% INTERNEXA and subordinate companies 5,0% TRANSELCA 0,5% 9,9% REP 41,0% CTEEP and affiliates 9,3% INTERVIAL CHILE and concessionaires 13,9% INTERCOLOMBIA 4,4% ISA 0,9% 1,9% ISA Bolivia PDI Perú INTERCHILE 12

13 Integrated Management System SIG Certifications* Business Units Companies ISO 9001 ISO OHSAS ISO Electric Energy Transport ISA INTERCOLOMBIA CTEEP REP TRANSELCA ISA Bolivia PDI (1) (1) * * (1) (1) Telecommunications Transport INTERNEXA Toll-Road Concessions INTERVIAL CHILE Real-Time Systems Smart Management XM 13 Conventions: Certified Under process * As on June 2014 (1) Construction of Infrastructure Projects process pending

14 Comprehensive Risk Management ISA and its companies identify, evaluate, manage and disclose the main risks they are exposed to Risk map of ISA and its companies Operating Risks Human and procedural errors Equipment faults and failures Road infrastructure failures TIC unavailability Fraud Environmental Land and easement management Operating Risks Strategic Risks Environmental Risks Strategic Risks Financial Legal and regulatory Reputational Human capital Breach of contract Governance Growth Environmental Risks Natural phenomena Socio-political 14

15 Corporate Social Responsibility Commitments to the stakeholders Shareholders: Profitable growth and creation of value. Suppliers: Transparency, equity and clear rules. Society: Respect for human rights, efficiency and quality of services, timely disclosure of public-interest information, and contribution to sustainable development and social well-being. Associates: Contributing to their integral development and valuing their contribution to the organization. State: Respect and promote the rule of law. Customers: Sustainable relation, competitive quality and costs, and reliable communication. 15

16 Good Corporate Governance Good Governance Practices Corporate Governance Boards of Directors and Administration Councils abide by local regulations and comply with the proportion for independent members prescribed by capital market regulations. Periodic scheduling of meetings of Boards of Directors and Administration Councils: mechanisms for reporting and accountability. Strict and transparent compliance with obligations to society and its government. Respect for the rights of minority shareholders and creditors. Disclosure, awareness and interiorization of the corporate framework: mission, vision, values, code of ethics, policies, guidelines, corporate guides, Good Governance Code, etc. Management Governance Parent Company focused on exercising its functions: organization engaged in directing and advising its companies, and ensuring addition of value from and towards them. Parent-company organizational structure: mechanism that promotes agility, flexibility, exchange of knowledge, capture of synergies and scale economies. Corporate-scope committees: mechanisms that comprehensively ensure alignment, strategic coherence and exchange of good practices between the parent company and its companies. Guidelines for achieving unit of purpose and direction permitting optimal use of resources to contribute to efficiency and profitability. Express definition of how to handle conflicts of interest. 16

17 Strategic direction Mission ISA has as its mission the highly efficient development and operation of linear infrastructure systems where it has differential capacities and advantages based on the advancement of its human talent and innovation capacity to create value for its shareholders and other stakeholders and contribute to the sustainable development of the societies where it is present. Vision In the year 2020, ISA will have tripled its earnings by capturing the most profitable growth opportunities in its current business areas in Latin America, promoting operational efficiency and optimizing its business portfolio. ISA s profitability will be higher than the cost of its equity, a trend sustainable along time. In the Energy Transport Business Unit, ISA will remain as the operator with the largest presence in Latin America, will consolidate its position in the region and will reach levels of operational efficiency that are consistent with worldwide best practices. In the Telecommunications Transport Business Unit, ISA will consolidate its leadership as an independent transporter in Latin America and will have developed an IP ecosystem in the region. ISA will expand its Real-Time Systems Smart Management towards new services, accessing highly profitable new opportunities in other business areas. In the Road Concessions Business Unit, ISA will seize regional opportunities, focusing on Colombia. Strategic pivots Capture of growth opportunities with superior profitability. Improvement of current and core business profitability. Dynamic adjustment of geography and business portfolio 17

18 Business Units Business Unit Description Revenue* EBITDA* Assets* Energy Transport ISA, through its companies, operates and maintains its electric energy network with high levels of availability, reliability and quality. The business unit s management is supported on strict and outstanding processes, safe to people, and both environmentally balanced and socially responsible. USD USD 666 USD Toll-Road Concessions ISA structures, designs, constructs, operates, maintains, and exploits urban and interurban roads in markets where it can be relevant. Operation and maintenance are performed according to standards previously established by the business regulators in each of the countries where ISA is present and are based on processes that guarantee operational excellence and safety for users. USD 477 USD 362 USD *Figures in millions of US Dollars. December,

19 Business Units Business Unit Description Revenue* EBITDA* Assets* Telecommunications Transport The participation of ISA in this business is materialized through INTERNEXA, the carrier s carrier with the continent s largest land continuous network. INTERNEXA has developed a strategy that will permit it to become the distribution leader in Latin America of relevant digital content. Accordingly, INTERNEXA has consolidated as a unique provider that allows access to the most sought-after contents by Latin American users in a direct and integrated manner. USD 71 USD 14 USD 340 Real-Time Systems Smart Management The power sector relies on the operation of the National Interconnected System and administration of the Energy Market in Colombia, including international electricity transactions with Ecuador. In the Traffic and Transport sector, the Medellin Mobility Management Center is operated under alliance between UNE EPM Telecomunicaciones, the ITS Medellín consortium and XM. In the financial sector, together with the Colombian Stock Exchange, ISA participates in DERIVEX, the company that administers the energy-commodities derivatives market. USD 45 USD 3 USD 133 *Figures in millions of US Dollars. December,

20 Electric infrastructure projects under construction Colombia: 395 km of circuits MVA of transformation Peru: km of circuits MVA of transformation Brazil: 938 km of circuits MVA of transformation USD 285 million USD 625 million USD 850 million Chile: km of circuits USD million Central America: Partner in EPR (11,11%) 36 km of circuits 20

21 Consolidated financial figures Consolidated income statement at June 2014 Million of US Dollars* Revenue Operating costs and expenses EBITDA EBITDA Margin Net Income Net Margin Revenue by country Brazil Colombia Peru Chile Bolivia Argentina EBITDA by country Brazil Colombia Peru Chile Bolivia Argentina ,60% 16,26% Market Representative Rate 30/06/2014 ( ) 21

22 Consolidated financial figures Consolidated balance sheet at June 2014 Million of US Dollars* Assets Liabilities Equity Minority interest Assets by country Argentina 6 Bolivia 59 Brazil Chile Colombia Peru Market Representative Rate 30/06/2014 ( ) 22

23 Growth COP million 23

24 Access to financial markets Financing alternatives Bonds and Promissory Notes Stock Hedging operations ISA s Public Listing, sale No. of shares mm mm ISA SWAP USD 44.3 mm USD 36.5 mm USD 50.1 mm Colombia: ISA and Transelca Filing of Level I ADR NY OTC Market Peru: REP and CTM ISA Commodities Raw materials ISA Capital 144A Reg/S USD 554 mm Issuance of common shares No. shares 56 mm Brazil: CTEEP and Subsidiaries Issuance of common shares No. of shares 32 mm ISA Capital Tender Offer USD mm CTEEP SWAP BRL 101 mm -151 mm CTM 144A Reg/S USD 450 mm REP SWAP PEN USD mm International Project Finance ISA Peru (USD 40.5 mm) ISA Bolivia (USD 54 mm) ISA Bolivia (USD 7 mm) Syndicated and Subordinated Loans ISA (CTEEP) (USD 550 mm) (USD 148 mm) TRANS- MANTARO USD 90 mm TRANS- MANTARO USD 100 mm USD 60 mm RIOS USD 220 mm 24

25 Credit risk ratings COMPANY Rating type S&P APOYO Y MOODY S FITCH FELLER-RATE PACIFIC EQUILIBRIUM ASOCIADOS CREDIT RATING Corporate BBB (Stable) Jul Baa3 (Stable) Dec BBB (Stable) May ISA Domestic Bond Issues AAA (Stable) May Commercial papers F1+ May TRANSELCA Domestic Bond Issues AAA (Stable) Apr National rating AA - (Stable) Aug ISA CAPITAL DO BRASIL CTEEP Corporate International Bond Issues Corporate Bond Issues BB+ (Stable) Aug BBB- (Stable) Aug AA+ (Stable) Aug AA+ (Stable) Aug TRANSMANTARO International Bond Issues Baa3 (Stable) Investment grade Apr BBB- (Stable) Apr REP Bond Issues AAA (Stable) Apr AAA (Estable) Apr Ruta del MAIPO Bond Issues BBB- (Stable) Apr Baa3 (Stable) May A (Stable) Jun Ruta del MAULE Bond Issues BBB- (Stable) Jun.2014 Baa2 (Stable) May A (Stable) Jun Ruta del BOSQUE Bond Issues BB+ (Stable) Jun.2014 Baa3 (Stable) Dec A- (Stable) Dec A (Stable) Jun (*) Rating for bonds issued in each country. 25

26 Behavior of the stock in the market Stockmarket indices YTD At June of 2014 Valuation% 15% 10% 5% 0% -5% -10% -15% -20% -25% 31-Dec 30-Jan 1-Mar 31-Mar 30-Apr 30-May 29-Jun ISA (0,2%) COLCAP (5,4%) MSCI EM Latin America (10,6%) S&P (7,6%) ISA s Market Capitalization March HIGH 9th position At the end of June ISA had shareholders Stock quote 2013 closing date dec-30 ISA Closing date June, 2014 Minimum quote for 2014 Daily average millions Maximum quote for 2014 May 23, 2014 Minimum quote for 2014 February 20, $9.600 $ Market Capitalization Market capitalization (COP MM) Market capitalization (COP USD) ISA

27 ISA Accolades ISA is recognized by Colombia s Junior Chamber as the company with best social projection. The Ministry of Environment awards ISA the National Environmental Award. The Presidency of the Republic and the Ministry of Economic Development grant ISA the Colombian Award for Management Quality. The National General Auditing Office ranks ISA as Exemplary Company for having the best Internal Control System ISA is ranked by the Great Place to Work Institute Colombia as best company to work for among State entities. ANALDEX and Proexport honor ISA and CREG with the Exports National Award, Export Project category, for their work in the International Electricity Transactions TIE. Honorable Mention in the ANDESCO Award to Corporate Social Responsibility. 27

28 ISA Accolades ISA was honored with the ANDESCO Corporate Social Responsibility Award for best company, and for best social performance for its ISA-Region program. ISA was honored with the ANDESCO Corporate Social Responsibility Award for its social performance and corporate governance Along the Latin American Investor Relations Awards, ISA won first place in the Best Investors Website category and third place in the Best Annual Report for Investors and Best Disclosure of Financial Results categories. The Colombian Stock Exchange BVC recognized ISA as the company with the longest term for bond underwriting. ISA improved by 2 points, from 92 to 94, out of 100, corresponding to low risk, its score in the survey of transparency policies and mechanisms for public utilities conducted by Corporación Transparencia por Colombia. The Colombian Stock Exchange delivered ISA the IR Recognition, an initiative that while ratifying the commitment of the company to the market, implies its increased commitment to a management style based on best practices. ISA s Antifraud Code was recognized in the Fourth Round of Good Corporate Transparency Practices, an event led by Corporación Transparencia por Colombia. This good practice adopted by the corporation since 2011, formalizes the strategic will of ISA and its Latin American companies regarding fraud. 28

29 REP Accolades Good Corporate Governance Contest Best Conduct towards Internal and External Environment. Leading Company in Management Excellence, Gold Category. National Quality Award. Social and Environmental Management CACIER Recognition for Corporate Ethics and Leadership. Award to its commitment to education. Distinction as socially responsible company. Corporate Good Governance Index of the Lima Stock Exchange, an award that symbolizes trust on and recognition to the company in good governance principles The company obtained the ABE Seal from Asociación de Buenos Empleadores, sponsored by the American Chamber of Commerce in Peru, which recognizes companies that stand out for their labor practices. 29

30 CTEEP Accolades Quality Award (APIMEC/SP). Abrasca Criação de Valor Destaque Setorial Category: Best model for creation of value for shareholders of power sector companies. Selo Assiduidade APIMEC Ouro 11 Años 2012 of Asociación de Analistas y Profesionales de Inversión del Mercado de Capitales de Brasil APIMEC. INTERNEXA Accolades Metro Ethernet Forum MEF awarded INTERNEXA the MEF 2012 awards in three categories: best carrier ethernet business application, best wholesale ethernet service y regional service provider of the year. XM Accolades 2013 Capacity Media honored INTERNEXA with the Capacity Awards 2012 Best Latin America Wholesale Carrier, a category recognizing the best carriers carrier in the region. For third year in a row, the company was named by Metro Ethernet Forum as Best Regional Service Provider of the Year and Best Wholesale Ethernet Service Provider. This company was honored with the ANDESCO award to Corporate Social Responsibility, Best Small Utilities and Telecommunications Company category. 30

31 Electric Infrastructure Guate Norte Guate Este El Cajón CENTRAL AMERICA Palmar Santa Marta Norte Parrita PanamáEl Bosque Termocol Veladero Talara Piura Chiclayo Trujillo Tocache Sogamoso Porto Velho Colina COLOMBIA São João do Piaui Garanhuns Country Company Operational circuit km Colombia: ISA TRANSELCA Peru: REP Transmantaro ISA Perú 393 Bolivia: ISA Bolivia 587 Brazil: CTEEP IEMG 172 PINHEIROS 6 EVRECY 154 Total PERU CHILE Carhuamayo Zapallal Pomacocha Mantaro Machu Picchu Marcona Abancay Cotaruse Carrasco Socabaya Arboleda Montalvo Santivañez Urubó Sucre Lagunas Punutuma Encuentro BOLIVIA Cardones Maitencillo Pan de Azúcar Polpaico Gov Valadares Mascarenhas Mesquita Neves 1 Araraquara Jandira El Salto Curitiba Itapeti Joinville Norte Jorge Lacerda B N.S. Rita Sideropolis Scharlau BRAZIL Country Company Transformation MVA Colombia: ISA TRANSELCA Peru: REP Transmantaro ISA Perú 235 Bolivia: ISA Bolivia 370 Brazil: CTEEP PINHEIROS SERRA DO JAPI EVRECY 450 Total TRANSMISSION LINES IN OPERATION TRANSMISSION LINES UNDER EXECUTION TRANSMISSION LINES UNDER STUDY INTERNATIONAL INTERCONNECTION 31

32 Road Infrastructure SANTIAGO Talca Chillán Collipulli Temuco Río Bueno CHILE Country Concessions Road km in operation SANTIAGO Talca Chillán Collipulli Temuco Río Bueno Chile: Ruta del Maipo 237 Ruta del Maule 193 Ruta del Bosque 161 Ruta de la Araucanía 144 Ruta de los Ríos 172 Total: 907 ROAD INFRASTRUCTURE IN OPERATION 32

33 Connectivity Infrastructure for Telecommunications Miami Campos Central america Bogotá Caracas Venezuela Duque de Caixas Teresópolis Petrópolis Macabú Friburgo Magé Niteroi Río de Janeiro São Gonçalo Itaboraí Maricá Araruama Saquarema Macaé Río das Ostras Sâo Pedro da Aldeia Cabo Frio Ecuador Quito Colombia Peru Lima Brazil Country Company Optic fiber km In operacion Chile Argentina Gran Sao Paulo Río de Janeiro Colombia INTERNEXA Peru INTERNEXA Chile INTERNEXA Brazil INTERNEXA Argentina Internexa Ecuador TRANSNEXA Venezuela In association with local operator Central America Santiago Buenos Aires Total ACTUAL NETWORK FUTURE NETWORK UNDERSEA CABLE 33

34 Contact Investor Relations Web page Twiter Avanza

Corporate Presentation May, 2014

Corporate Presentation May, 2014 Corporate Presentation May, 2014 Evolution of ISA 1967 1971 1977 1982 1984 The Colombian Government creates ISA to develop high-voltage energy transmission and generation projects. ISA operates the first

More information

ISA AND ITS BUSINESS UNITS

ISA AND ITS BUSINESS UNITS Directly and through its 30 affiliates and subsidiaries, ISA executes important projects in linear infrastructure systems that enhance continental development. For such purpose, its activities are focused

More information

ISA, MULTI LATIN-AMERICAN

ISA, MULTI LATIN-AMERICAN in Latin America organization with 33 companies in four, MULTI LATIN-AMERICAN organization with 33 companies in four business units and eight countries , directly and through its 33 affiliates and subsidiaries,

More information

CORPORATE PRESENTATION August, 2014

CORPORATE PRESENTATION August, 2014 CORPORATE PRESENTATION August, 2014 Todos los derechos reservados por Interconexión Eléctrica S.A. E.S.P. All rights reserved Interconéxión Eléctrica S.A E.S.P Evolution of ISA 1967 The Colombian Government

More information

ISA, MULTI LATIN-AMERICAN

ISA, MULTI LATIN-AMERICAN , MULTI LATIN-AMERICAN organization with 33 companies in four business units and eight countries , directly and through its 33 affiliates and subsidiaries, implements important infrastructure projects

More information

ISA, MULTI LATIN-AMERICAN with 33 companies and 4 businesses in eight countries

ISA, MULTI LATIN-AMERICAN with 33 companies and 4 businesses in eight countries Transport Transport Intelligent Real-Time Management Systems of Smart Real-Time Management Systems company in, MULTI LATIN-AMERICAN with 33 companies and 4 businesses in eight countries , directly and

More information

Investor Presentation

Investor Presentation The IR Recognition granted by the Colombian Securities Exchange (Bolsa de Valores de Colombia S.A) is not a certification of the registered securities or the solvency of the issuer Investor Presentation

More information

Investor Presentation

Investor Presentation The IR Recognition granted by the Colombian Securities Exchange (Bolsa de Valores de Colombia S.A) is not a certification of the registered securities or the solvency of the issuer Investor Presentation

More information

shareholders Autopistas de la Montaña, ISA s grand commitment

shareholders Autopistas de la Montaña, ISA s grand commitment November 2011 N 22 shareholders BULLETIN Autopistas de la Montaña, ISA s grand commitment Our shareholders ratify ISA as a company well worth investing in ISA Services for you in our Web page In 11 years,

More information

May El Dorado International Airport. Aeropuerto Internacional El El Dorado

May El Dorado International Airport. Aeropuerto Internacional El El Dorado May 2018 El Dorado International Airport. Aeropuerto Internacional El El Dorado ABOUT ODINSA We are a Colombian concession company that belongs to Grupo Argos, dedicated to the structuring, promotion,

More information

UBS 14 th Global Emerging Markets Conference. New York, November 2016

UBS 14 th Global Emerging Markets Conference. New York, November 2016 UBS 14 th Global Emerging Markets Conference New York, November 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Panama City, Panama --- March 7, 2007. Copa Holdings, S.A. (NYSE: CPA), parent company of Copa

More information

History Culture Landscape Industry

History Culture Landscape Industry History Culture Landscape Industry Guatemala The largest economy of Central America (37.5% PIB). 15 million inhabitants Access to 67.5 million persons in the Mesoamerican market 70% of the population is

More information

BANK GUARANTEES BALANCE - USD USD USD USD USD USD USD USD

BANK GUARANTEES BALANCE - USD USD USD USD USD USD USD USD BANK GUARANTEES TYPE OF GUARANTEE SECURED PARTY BALANCE - CURRENCY OF ORIGIN BALANCE - PURPOSE DUE DATE UPME 07-2013 MONTERÍA 29.389.479.176 10.007.757 Bid UPME-07-2013, Monteria Project. 01-02-18 UPME

More information

Call Center Industry in Colombia

Call Center Industry in Colombia Call Center Industry in Colombia 2008 1 Colombia was chosen by DIRECTV as one of the options to centralize its Call Center operations, mainly because of the high level of commitment and service attitude

More information

Bank of America Merrill Lynch Emerging Markets Corporate Conference. Miami, June 2016

Bank of America Merrill Lynch Emerging Markets Corporate Conference. Miami, June 2016 Bank of America Merrill Lynch Emerging Markets Corporate Conference Miami, June 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial

More information

Peru: Investment Opportunities Infrastructure and public services

Peru: Investment Opportunities Infrastructure and public services Peru: Investment Opportunities Infrastructure and public services 2017-2018 PERU S STRONG MACROECONOMIC CREDENTIALS Real GDP, 2004-2018* (%Variation) Real GDP Forecasts for Latin America 2017 (Annual Average

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Net Income of US$18.6 Million and EPS of US$0.42 for the Second Quarter of 2010 Excluding special items, adjusted net income came in at $26.3 million, or $0.60 per share Panama City,

More information

2Q Earnings Results Presentation

2Q Earnings Results Presentation 2Q Earnings Results Presentation SAFE HARBOR The present document consolidates information from Avianca Holdings S.A. and its subsidiaries, including unaudited financial figures, operational managerial

More information

3Q 2016 Earnings Results Presentation. B787 Dreamliner

3Q 2016 Earnings Results Presentation. B787 Dreamliner 3Q 2016 Earnings Results Presentation B787 Dreamliner 2 The present document consolidates information from Avianca Holdings SA and its subsidiaries, including unaudited financial figures, operational managerial

More information

Acquisition of Lafarge s assets in Honduras

Acquisition of Lafarge s assets in Honduras Mural of premixed architectonical ready-mix, Bogotá, Colombia Barco Selenna, muell de Haití Exportaciones desde el puerto Cartagena, Colombia Acquisition of Lafarge s assets in Honduras September 2013

More information

Santander 22 nd Annual Latin American Conference. Cancun, January 2018

Santander 22 nd Annual Latin American Conference. Cancun, January 2018 Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

International economic context and regional impact

International economic context and regional impact Contents I. GDP growth trends in Latin America and the Caribbean in 2012 II. Regional performance in 2012: Inflation, employment and wages External sector Policies: Fiscal and Monetary III. Conclusions

More information

2Q 2016 Earnings Results Presentation. B787 Dreamliner

2Q 2016 Earnings Results Presentation. B787 Dreamliner 2Q 2016 Earnings Results Presentation B787 Dreamliner 2 The present document consolidates information from Avianca Holdings SA and its subsidiaries, including unaudited financial figures, operational managerial

More information

Endesa Chile 1Q14 Results

Endesa Chile 1Q14 Results Endesa Chile 1Q14 Results May 06 th 2014 Highlights 43% decrease in Net Income attributable to Endesa Chile s shareholders, mainly explained by a higher procurement and services cost and a greater negative

More information

XIV Meeting of National Coordinators of the Initiative for the Integration of the Regional Infrastructure in South America

XIV Meeting of National Coordinators of the Initiative for the Integration of the Regional Infrastructure in South America XIV Meeting of National Coordinators of the Initiative for the Integration of the Regional Infrastructure in South America August 25 th and 26 th, 2009 Buenos Aires, Argentina MESOAMERICA Integration and

More information

US-460 CONCEPTUAL PROPOSAL

US-460 CONCEPTUAL PROPOSAL US-460 Presentation Conceptual to VDOT Independent Review Proposal Panel Presentation to VDOT Independent Review Panel December 6, 2010 Long-Term Partnership Over 150 years, the map has changed but the

More information

Results 1 st Quarter 2005

Results 1 st Quarter 2005 Grupo Posadas, s, S.A. de C.V. & Subsidiaries April 28, 2005 Results 1 st Quarter 2005 Total revenues increase 13% in the quarter Higher demand in urban hotels Better results in coastal hotels 3 openings

More information

Transport Infrastructure Concessions: Chilean Experience

Transport Infrastructure Concessions: Chilean Experience Critical Success Factors in Large Scale Transport Infrastructure Projects Transport Infrastructure Concessions: Chilean Experience Eduardo Bitran Colodro, Minister of Public Works, Chile March 26th, 2007

More information

Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference. Miami, May 2018

Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference. Miami, May 2018 Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference Miami, May 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated

More information

Thank you for participating in the financial results for fiscal 2014.

Thank you for participating in the financial results for fiscal 2014. Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots

More information

Conference Call 1Q14 Results. Investor Relations May 15, 2014

Conference Call 1Q14 Results. Investor Relations May 15, 2014 Conference Call Results Investor Relations May 15, 2014 1 Highlights 2 Highlights Net revenues of R$2.5 billion in the quarter, an increase of 20% or R$411 million quarter-over-quarter; EBIT totaled R$144

More information

Investor Update Issue Date: April 9, 2018

Investor Update Issue Date: April 9, 2018 Investor Update Issue Date: April 9, 2018 This investor update provides guidance and certain forward-looking statements about United Continental Holdings, Inc. (the Company or UAL ). The information in

More information

J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference. Miami, February 2018

J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference. Miami, February 2018 J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference Miami, February 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated

More information

Why Colombia Investment Environment & Business Opportunities

Why Colombia Investment Environment & Business Opportunities Why Colombia Investment Environment & Business Opportunities Tobias Meurer Mai 2017 Table of Content 1. Recent Macroeconomic Developments 2. Investment Environment 3. Export Platform 4. Wood processing

More information

1Q 2017 Earnings Call. April 18, 2017

1Q 2017 Earnings Call. April 18, 2017 1Q 2017 Earnings Call April 18, 2017 Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Financial Results for the First Quarter of 2016 Excluding special items, adjusted net income came in at US$69.9 million, or EPS of US$1.66 per share Panama City, Panama --- May 5,

More information

LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010

LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010 FOR IMMEDIATE RELEASE LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010 Santiago, Chile, April 27, 2010 LAN Airlines S.A. (NYSE: LFL), one of Latin America s leading passenger

More information

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Panama City, Panama --- Aug 8, 2018. Copa Holdings, S.A. (NYSE: CPA), today announced financial results

More information

ANGLIAN WATER GREEN BOND

ANGLIAN WATER GREEN BOND ANGLIAN WATER GREEN BOND DNV GL ELIGIBILITY ASSESSMENT Scope and Objectives Anglian Water Services Financing Plc is the financing subsidiary of Anglian Water Services Limited. References in this eligibility

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2018 Excluding special items, adjusted net profit came in at $44.0 million, or Adjusted EPS of $1.04 Panama City, Panama --- February 13,

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of $103.8 million and EPS of $2.45 for the Third Quarter of 2017 Excluding special items, adjusted net income came in at $100.8 million, or EPS of $2.38 per share Panama

More information

EU Trade policy in Latin America

EU Trade policy in Latin America EU Trade policy in Latin America Thomas LE VAILLANT European Commission DG TRADE - Relations with Latin America Topics 1.Trade and investment flows 2. Regionalism in Latin America 3. State of play 4. Architecture

More information

About Romipack 5 ABOUT ROMIPACK

About Romipack 5 ABOUT ROMIPACK About Romipack 5 01 ABOUT ROMIPACK Romipack is an Argentine company with over 45 years in the market, leader in the manufacturing and sale of paper bags throughout Latin America. The investment policy

More information

UN-GGIM:Americas. UN-GGIM Expanded Bureau Meeting 7-9 December 2016, UN Headquarters New York. Rolando Ocampo President of UN-GGIM:Americas

UN-GGIM:Americas. UN-GGIM Expanded Bureau Meeting 7-9 December 2016, UN Headquarters New York. Rolando Ocampo President of UN-GGIM:Americas UN-GGIM:Americas UN-GGIM Expanded Bureau Meeting 7-9 December 2016, UN Headquarters New York Rolando Ocampo President of UN-GGIM:Americas Antigua and Barbuda 38 Member States Argentina Bahamas Belize Bolivia

More information

ASSEMBLY 35TH SESSION

ASSEMBLY 35TH SESSION 1 27/9/04 ASSEMBLY 35TH SESSION ECONOMIC COMMISSION Agenda Item 27: Regulation of international air transport services, and outcome of the fifth Worldwide Air Transport Conference RIGHTS AND OBLIGATIONS

More information

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012 Fourth Quarter and Full Year 2011 Results Presentation February 1, 2012 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

J.P. Morgan 2019 Global Emerging Markets Corporate Conference. Miami, February 2019

J.P. Morgan 2019 Global Emerging Markets Corporate Conference. Miami, February 2019 J.P. Morgan 2019 Global Emerging Markets Corporate Conference Miami, February 2019 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial

More information

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017 Deutsche Bank 16 th Annual Global Emerging Markets New York, September 2017 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and

More information

NOVEMBER YEAR III LATIN AMERICA&CARIBBEAN MID-MARKETS: OPPORTUNITIES IN THE REGION

NOVEMBER YEAR III LATIN AMERICA&CARIBBEAN MID-MARKETS: OPPORTUNITIES IN THE REGION NOVEMBER 2011 - YEAR III MARKETWATCH LATIN AMERICA&CARIBBEAN MID-MARKETS: OPPORTUNITIES IN THE REGION THE REGION IN PERSPECTIVE LAC in Perspective - 2011 Facts % of the world 595 mi people 9,3 $ 5,8 tri

More information

integrated ANNUAL report 2012

integrated ANNUAL report 2012 integrated ANNUAL report 2012 mission, vision, strategy AND VALUES Mission To develop and manage world-class airports for the benefit of all stakeholders Vision To be a world-leading airport business Strategy

More information

Results 3 rd Quarter 2003

Results 3 rd Quarter 2003 Grupo Posadas, s, S.A. de C.V. & Subsidiaries October 28 th, 2003 Results 3 rd Quarter 2003 Total revenue and EBITDA increased by 10 and 12 % respectively Coastal hotels continue to improve, rates on urban

More information

Santander 20 th Annual Latin America CEO Conference Cancun, January 2016

Santander 20 th Annual Latin America CEO Conference Cancun, January 2016 Santander 20 th Annual Latin America CEO Conference Cancun, January 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Peru: Investment Opportunities Infrastructure and public services

Peru: Investment Opportunities Infrastructure and public services Peru: Investment Opportunities Infrastructure and public services 2017-2018 Carlos Ganoza Chief of Advisors Ministry of Economy and Finance April 19th 1 PERU S STRONG MACROECONOMIC CREDENTIALS ALLOW FOR

More information

Gerry Laderman SVP Finance, Procurement and Treasurer

Gerry Laderman SVP Finance, Procurement and Treasurer Gerry Laderman SVP Finance, Procurement and Treasurer Safe Harbor Statement Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect

More information

Ibero-American Road Safety Observatory

Ibero-American Road Safety Observatory Ibero-American Road Safety Observatory IRTAD Outreach activities in Latin America and the Caribbean countries 8 rd Road Safety Working Group Meeting April, 3-4, 2017 Podgorica - Montenegro Anna Ferrer

More information

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 November 14, 2018 PANAMA CITY, Nov. 14, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Net Income of US$32.0 Million and EPS of US$0.72 for the Second Quarter of 2012 Excluding special items, adjusted net income came in at $58.6 million, or EPS of $1.32 per share Panama

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2015 Excluding special items, adjusted net income came in at $31.7 million, or EPS of $0.73 per share Panama City, Panama --- February

More information

The Financial Agenda: Investment Climate in South America

The Financial Agenda: Investment Climate in South America The Financial Agenda: Investment Climate in South America Guayaquil, Ecuador Clay B Dickinson Managing Director, Latin America Hotel and Hospitality Source: Traveltobank.com Global Hotel Investment Market

More information

Second quarter 2013 Results Presentation. August, 2013

Second quarter 2013 Results Presentation. August, 2013 Second quarter 2013 Results Presentation August, 2013 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results. These

More information

Doing Business in Latin America and the Caribbean. Rita Ramalho Program Manager

Doing Business in Latin America and the Caribbean. Rita Ramalho Program Manager Doing Business in Latin America and the Caribbean Rita Ramalho Program Manager What does Doing Business measure? Doing Business indicators: Focus on regulations relevant to the life cycle of a small to

More information

MARRIOTT INTERNATIONAL 2017 SECURITY ANALYST MEETING. March 21, 2017

MARRIOTT INTERNATIONAL 2017 SECURITY ANALYST MEETING. March 21, 2017 MARRIOTT INTERNATIONAL 2017 SECURITY ANALYST MEETING March 21, 2017 FORWARD LOOKING STATEMENTS, NON GAAP FINANCIAL MEASURES, AND INFORMATION FOR 2016 AND 2015 This material contains forward looking statements

More information

Latin America Airfinance Conference

Latin America Airfinance Conference 13 th Annual Latin America Airfinance Conference 14-15 September 2017 Belmond Copacabana Palace, Rio de Janeiro, Brazil Andres Del Valle Senior Vice President Corporate Finance LATAM Airlines Group From

More information

The Latin America & Caribbean Market!

The Latin America & Caribbean Market! Light up the path to The Latin America & Caribbean Market! 6-8 July, 2016 ATLAPA Convention Center, Panama www.inter-lumi.com Interlumi Panama, organized by America Expo Group, as a new member of the global

More information

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS Copa Holdings Reports Net Income of US$6.2 Million and EPS of US$0.14 for the Third Quarter of 2015 Excluding special items, adjusted net income came in at $37.4 million, or EPS of $0.85 per share Panama

More information

Investment Highlights

Investment Highlights Third Quarter 2014 Investment Highlights 1 Mexican airport portfolio positioned to take full advantage of global growth. 2 Diversified business model contributing to earnings resilience. 3 Well-defined

More information

Consorcio Transmantaro

Consorcio Transmantaro Consorcio Transmantaro 2011 Report I. Business Context 1.1 ISA and its businesses ISA carries out important projects in linear infrastructure directly and through its 30 branches and subsidiaries boosting

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of US$113.1 Million and EPS of US$2.57 for the First Quarter of 2015 Excluding special items, adjusted net income came in at US$106.0 million, or EPS of US$2.41 per share

More information

LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009

LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009 FOR IMMEDIATE RELEASE LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009 Santiago, Chile, July 28, 2009 LAN Airlines S.A. (NYSE: LFL), one of Latin America s leading passenger

More information

The Rental Car Market: All Things American. John Healy Managing Director Northcoast Research International Car Rental Show

The Rental Car Market: All Things American. John Healy Managing Director Northcoast Research International Car Rental Show The Rental Car Market: All Things American John Healy Managing Director Northcoast Research International Car Rental Show 1 World Bank, Latin America s total GDP is USD $4.775 trillion. USA s total GDP

More information

Results 1 st Quarter 2004

Results 1 st Quarter 2004 Grupo Posadas, s, S.A. de C.V. & Subsidiaries April 30 th, 2004 Results 1 st Quarter 2004 Consolidated revenue decreased 1.3%. Revenew and Conectum progress is on track in order to improve the profitability

More information

GAMING INVESTMENT FORUM AT G2E. September 26, 2016

GAMING INVESTMENT FORUM AT G2E. September 26, 2016 GAMING INVESTMENT FORUM AT G2E September 26, 2016 Dan D Arrigo EVP & Chief Financial Officer MGM Resorts International MGM RESORTS INTERNATIONAL Strong Domestic Operating Results Las Vegas Trends Maximizing

More information

Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013

Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013 Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013 Panama City, Panama --- February 12, 2014. Copa Holdings, S.A. (NYSE: CPA), today announced financial results for the

More information

AIR CANADA REPORTS THIRD QUARTER RESULTS

AIR CANADA REPORTS THIRD QUARTER RESULTS AIR CANADA REPORTS THIRD QUARTER RESULTS THIRD QUARTER OVERVIEW Operating income of $112 million compared to operating income of $351 million in the third quarter of 2007. Fuel expense increased 49 per

More information

AMERICAN AIRLINES GROUP REPORTS RECORD FEBRUARY TRAFFIC AND CAPACITY

AMERICAN AIRLINES GROUP REPORTS RECORD FEBRUARY TRAFFIC AND CAPACITY Corporate Communications 817-967-1577 mediarelations@aa.com Investor Relations 817-931-3423 investor.relations@aa.com FOR RELEASE: Tuesday, AMERICAN AIRLINES GROUP REPORTS RECORD FEBRUARY TRAFFIC AND CAPACITY

More information

SGCIB Premium Review 2018

SGCIB Premium Review 2018 SGCIB Premium Review 2018 29 November 2018 Christian Labeyrie Executive Vice-President and CFO Disclaimer This presentation may contain forward-looking objectives and statements about VINCI s financial

More information

J.P. Morgan Aviation, Transportation and Industrials Conference

J.P. Morgan Aviation, Transportation and Industrials Conference J.P. Morgan Aviation, Transportation and Industrials Conference March 3, 08 Scott Kirby President Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect

More information

COLOMBIAN: RECENT DEVELOPMENTS

COLOMBIAN: RECENT DEVELOPMENTS COLOMBIAN: RECENT DEVELOPMENTS Why do business in Colombia? Strategic geographic location: easy access to the North American, European, Asian and Latin American markets. Macroeconomic stability: economic

More information

American Airlines Group Reports December Traffic

American Airlines Group Reports December Traffic NEWS RELEASE American Airlines Group Reports December Traffic 1/11/2017 FORT WORTH, Texas, Jan. 11, 2017 American Airlines Group (NASDAQ:AAL) today reported December and full year 2016 traffic results.

More information

VI Meeting of the Executive Steering Committee

VI Meeting of the Executive Steering Committee VI Meeting of the Executive Steering Committee 23 24 November, 2004 Lima, Republic of Peru 2004 Project Portfolio INITIATIVE FOR THE INTEGRATION OF REGIONAL INFRASTRUCTURE IN SOUTH AMERICA Project Portfolio

More information

Citi Industrials Conference

Citi Industrials Conference Citi Industrials Conference June 13, 2017 Andrew Levy Executive Vice President and Chief Financial Officer Safe Harbor Statement Certain statements included in this presentation are forward-looking and

More information

DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter)

DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event

More information

1Q 2018 Earnings Call. April 18, 2018

1Q 2018 Earnings Call. April 18, 2018 1Q 2018 Earnings Call April 18, 2018 Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain

More information

8.INFRASTRUCTURE #INVESTINGUATEMALA. Industry in Guatemala

8.INFRASTRUCTURE #INVESTINGUATEMALA. Industry in Guatemala 8.INFRASTRUCTURE #INVESTINGUATEMALA Industry in Guatemala General information of the country Capital City Currency Exchange Rate (2013) Official Language Population Labor Force (2013) GDP (2013) FDI inflows

More information

Ferrovial increases net profit by 12%, to 287 million euro

Ferrovial increases net profit by 12%, to 287 million euro All-time record backlog: 23.695 billion euro Ferrovial increases net profit by 12%, to 287 million euro Revenues expanded by 2.8% to 3.758 billion euro, supported by solid performance in the international

More information

BUILDING A REGIONAL INFRASTRUCTURE FOR THE FUTURE OF INTERNET IN LATIN AMERICA

BUILDING A REGIONAL INFRASTRUCTURE FOR THE FUTURE OF INTERNET IN LATIN AMERICA BUILDING A REGIONAL INFRASTRUCTURE FOR THE FUTURE OF INTERNET IN LATIN AMERICA A report to the CAF La:n American Development Bank Telecom Advisory Services, LLC FUTURECOM Rio de Janeiro, October 24, 2013

More information

Washington,D.C FORM8-K

Washington,D.C FORM8-K UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549 FORM8-K CURRENTREPORT PursuanttoSection13OR15(d) ofthesecuritiesexchangeactof1934 DateofReport(Dateofearliesteventreported):March8,2018

More information

Management Presentation. March 2016

Management Presentation. March 2016 Management Presentation March 2016 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively

More information

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 May 9, 2018 PANAMA CITY, May 9, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced financial

More information

Results 2 nd Quarter 2004

Results 2 nd Quarter 2004 Grupo Posadas, s, S.A. de C.V. & Subsidiaries July 28 th, 2004 Results 2 nd Quarter 2004 Cosolidated revenues increased 11% EBITDA increased 15% Recovery on REVPAR 3 new openings in the 2Q04, which sum

More information

EARNINGS 2Q2016 RELEASE. August 30, 2016

EARNINGS 2Q2016 RELEASE. August 30, 2016 EARNINGS RELEASE 2Q2016 August 30, 2016 RELEVANT CORPORATE EVENTS 2Q2016 MULTIPLAZA LA FELICIDAD BOGOTÁ - CUNDINAMARCA RELEVANT CORPORATE EVENTS New market maker with Credicorp: a value adding tool for

More information

BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015

BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015 BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS Copa Holdings Reports Financial Results for the Third Quarter of 2016 Excluding special items, adjusted net income came in at $55.3 million, or adjusted EPS of $1.30 per share Panama City, Panama --- November

More information

Endesa Chile 9M14 Results

Endesa Chile 9M14 Results Endesa Chile 9M14 Results October 29th 2014 Highlights Operating revenues increased 24%, mainly due to higher energy sales in Chile, Colombia and Peru. Hydro generation increased 12% due to better water

More information

AMERICAN AIRLINES GROUP REPORTS DECEMBER TRAFFIC RESULTS

AMERICAN AIRLINES GROUP REPORTS DECEMBER TRAFFIC RESULTS Corporate Communications 817-967-1577 mediarelations@aa.com Investor Relations 817-931-3423 investor.relations@aa.com FOR RELEASE: Monday, AMERICAN AIRLINES GROUP REPORTS DECEMBER TRAFFIC RESULTS FORT

More information

01 Amadeus at a glance

01 Amadeus at a glance 01 Amadeus at a glance 7 Amadeus Annual Report 2011 1.1 Company s origins and development Most people associate the birth of electronic commerce distribution with the arrival of the internet. In fact,

More information

Broadband as an opportunity for Development

Broadband as an opportunity for Development Broadband as an opportunity for Development December 2013 Antonio García Zaballos http://www.iadb.org The Inter-American Development Bank Discussion Papers and Presentations are documents prepared by both

More information

Contents of the Economic Survey 2012

Contents of the Economic Survey 2012 Contents of the Economic Survey 2012 I. Macroeconomic trends in Latin America and the Caribbean in 2012 II. Reactions of the countries of the region to the adversities of the global economy III. Savings

More information

COLOMBIA: SHARED SERVICES CENTERS

COLOMBIA: SHARED SERVICES CENTERS COLOMBIA: WIDE ARRAY OF QUALIFIED HUMAN CAPITAL, STRATEGIC GEOGRAPHICAL LOCATION AND INFRASTRUCTURE TO RUN SHARED SERVICES CENTERS SHARED SERVICES CENTERS A strategic and privileged geographical location.

More information