Colbun S.A. Reports Consolidated Earnings Results Third Quarter and Nine Months Ended September 2016
October 27, 2016
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Colbun S.A. reported consolidated earnings results third quarter and nine months ended September 2016. For the quarter, the company reported consolidated EBITDA in the quarter reached USD 122.5 million, 32% lower than the EBITDA of USD 180.9 million in third quarter of 2015. The lower EBITDA was mainly given by the lower rainfalls recorded during the quarter with the resulting lower hydro generation and due to lower non-recurring income, as a result of the insurance compensation for loss of profits due to the failure in Blanco Power Plant (60 MW) for USD 21.5 million recorded in third quarter of 2015. These effects were partially offset by the contribution of EBITDA from Fenix Power. The company recorded a net income of USD 28.4 million, lower than the net income of USD 75.7 million of third quarter of 2015. The decrease in net income over the same period last year is mainly explained by the lower EBITDA recorded in third quarter of 2016. Operating income was USD 334.3 million against USD 337.0 million a year ago. Operating income was USD 65.6 million against USD 132.0 million a year ago. Profit before taxes was USD 44.3 million against USD 113.6 million a year ago. During the quarter a net cash inflow of USD 108.8 million was generated, decreasing by 54% compared to third quarter of 2015. The decrease is mainly explained by lower revenues associated to a lower generation during the quarter and by the cost increase due to higher purchases in the spot market.
For the nine months, the company reported EBITDA as of September 2016 reached USD 443.9 million compared with USD 410.0 million in Sep15. The increase is mainly explained by higher sales to regulated customers, lower thermal generation costs and the contribution of EBITDA from Fenix Power. In cumulative terms, the result shows a net income of USD 155.9 million, which positively compares with the net income of USD 132.8 million from the same period last year, mainly due to higher EBITDA. Operating income was USD 1,067.0 million against USD 1,012.5 million a year ago. Operating income was USD 276.0 million against USD 265.3 million a year ago. Profit before taxes was USD 204.0 million against USD 204.3 million a year ago. Net debt as on September 2016 was USD 1,120.3 million. In cumulative terms, a positive net cash flow of USD 367.7 million was generated as of Sep16, 22% lower than as of Sep15, mainly due to a lower operational result during the period.
Colbun SA is a Chile-based company engaged in the generation and distribution of electricity. The Company operates, through its affiliated companies, in the generation, transportation, transformation, distribution, supply or commercialization of electric power and management or operation of power plants. Its clients range from electric suppliers to manufacturing and mining companies. The Companyâs energy sources include Hydroelectricity and Thermoelectricity. The Company operates hydroelectric power plants and thermal power plants, which can run on petroleum and natural gas and coal. Its power plants and projects contribute energy to the Central Interconnected Grid (CIG). Its power stations are distributed throughout 4 basins and 4 regions of the southern central region of Chile. The Companyâs affiliated companies include, among others, Termoelectrica Antilhue SA and Empresa Electrica Industrial SA. It owns also power generation assets in Peru.
COLBÚN S.A. 
