Corporate Presentation - Terpel · IATA (International Air Transportation Association) strategic...
Transcript of Corporate Presentation - Terpel · IATA (International Air Transportation Association) strategic...
Corporate
Presentation
Organización Terpel S.A.
March 2017
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Organización Terpel, much more than fuel
1st Fuel distributor
in Colombia
43% Market Share*
1st Service Station
network in
Colombia
1.896 SS Fuel + VNG
6 Countries in
which Terpel
has presence
$14 $COP Trillion
Consolidated
Revenue Dec. 2016
2,5 Billion Gallons
Consolidated
Volume Dec. 2016
$660 $COP Billion
Consolidated
EBITDA Dec. 2016
(*) 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 2016.
AAA Terpel’s
bonds risk
rating Fitch Ratings
$2,1 $COP Trillion
Market
CapitalizationDec. 2016
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More than 48 years providing Colombia
mobilization solutions
1972
1993
2000
2001
2004
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1968
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.
Merger of Terpel regional
companies and Gazel 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
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Ownership structure
3,1% 2,8% 2,4% 2,6% 2,4% 2,6%
25,6%
58,51%
99% 99% 99% 99% 99% 100% 99%
99%
99% 99%
100% 100% 100% 100%
100%
Inversiones Valin 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
Combustibles Ecológicos Mexicanos
S.A
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
Other Shareholders
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COPEC one of the biggest companies in Chile, main investor and
a long term player
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Best infraestructure
Best price Best service
Pillars of our corporate strategy
We will be market leaders in 2017, with a highly
effective team, with the best brand position and
known as the best company in terms of service, and
social commitment with the country.
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Regional presence
(*) Source: Terpel dic-16
(**) Market Share in Mexico City is 100%
(***) 1876 liquid fuel SS (224 owned) and 287 VNG SS, (177 SS sale both liquid fuels and VNG)
(****) 34 VNG SS, 11 liquid fuel SS y 14 LPG
No. SS dic-15: Colombia-> 1948, Panama-> 116, Ecuador-> 57, Mexico-> 8, Peru-> 35
No. No. Ranking% Market
Share*
Business
Lines
8 -- 1 56%** (VNG)
-- 5 2 32%
127 -- 2 24%
38% LiqFuels
44% VNG
81% Aviation
58 -- 5 7%
38**** -- 2 12%VNG
Liq Fuels
LPG
11.986*** 20
TERPEL IN
COLOMBIA
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Terpel remained as the leader company in the fuel distribution
industry in Colombia
TERPEL MARKET SHARE*
2016 liquid fuels volume sales
TERPEL VOLUME GROWTH Vs. MARKET*
GAZEL MARKET SHARE**
2016 VNG volume sales
GAZEL VOLUME GROWTH Vs. MARKET**
(*) Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall
surcharge tax. Figures as of December 2016. For 2016 market volume includes LCNI and Imports. Without LCNI+Imp the market
would growth 3,5% and Terpel’s Market Share would be 45,3%.
(**) Source: Issuer’s calculations. Figures in equivalent gallons. Figures as of December 2016.
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Service Stations (SS)
Market leader with 44% in VNG, 40% in gasoline and 37% in Diesel.*
More than 324 SS were remodeled with new image. In total,896 SS have the new brand image.
Largest distribution network of liquid fuels and VNG in Colombia (1.986 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 527 liquid fuel SS and 279 VNG SS.
It represents 73% of volume and 61% 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 2016, include volume of LCNI and Imports.
** 1.876 liquid fuel SS (224 owned) and 287 VNG SS, (177 SS sale both liquid fuels and VNG)
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A wide network of ATMs, flat tire service,
additives and other products that complement
Terpel services.
Suplementary Services
Otros SSCC
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.
14 Ziclos for vehicles + 2 Ziclos for Motorcycles: A
modern, agile and innovative system of auto-car wash.
16 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.
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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 6% of CAPEX in Colombia.
Lubricants
Lubricants Plant certifications
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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 9% 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.
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 3% of CAPEX in Colombia
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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 0,4% of total volume.
Colombian Seaports
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ISO certifications
Leader in sustainability at a
global level as a result of
the second evaluation
conducted under Dow Jones
Sustainability Index (DJSI).
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
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Terpel’s senior management experience in the industry
Daniel Perea Corporate & Legal AffairsVP
11 years
Sylvia Escovar President
14 years
Maria Mercedes Carrasquilla Human & Administrative Resources VP
4 years
Kenneth Siefken Marketing VP
15 years
Oscar Bravo Corporate Finance VP
12 years
Tony Quintero Commercial VP: Fuels
19 years
Juan Pablo Giraldo Lubricants VP
9 years
José Carlos Barreto Operations & Logistics VP
10 years
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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
José Oscar Jaramillo Botero
Bernardo Dyner Rezonzew
Jorge Alberto Bunster Betteley
GENERAL SHAREHOLDERS ASSEMBLY
PRESIDENT
Tax Auditor Internal
Auditor
Authorities
(SFC, SISoc.)
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.
FINANCIAL
INFORMATION
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Consolidated operational results
(*) From 2013, figures include Peru results.
VOLUME SALES PERFORMANCE*
Millon Galons
VOLUME SALES BREAKDOWN
PER COUNTRY 2016*
EBITDA PERFORMANCE* COP$ Billion
EBITDA BREAKDOWN PER COUNTRY 2016*
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Regional value generation
EBITDA Vs. VOLUME
COP$ Billion Vs. Million Gallons
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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 CAPEX BREAKDOWN PER BUSINESS LINES
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Debt indicators
DEBT/EBITDA PERFORMANCE EBITDA/INTERESTS PERFORMANCE
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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