Colbun S.A. Reports Earnings Results for the Consolidated Second Quarter and Six Months and Production Results for the Second Quarter Ended June 2016
July 27, 2016
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Colbun S.A. reported earnings results for the consolidated second quarter and six months and production results for the second quarter ended June 2016. For the quarter, the company reported operating revenues of USD 370.1 million against USD 358.5 million a year ago. Operating income was USD 96.1 million against USD 88.0 million a year ago. EBITDA was USD 151.1 million against USD 136.4 million a year ago. Net income before tax was USD 66.1 million against USD 65.5 million a year ago. Net income from continuing operations was USD 51.4 million against USD 50.1 million a year ago. Net income attributable to stockholders of the parent company was USD 51.4 million against USD 50.1 million a year ago. Generated a net cash outflow of USD 334.4 million during second quarter 2016, which compares with second quarter 2015's net outflow of USD 41.5 million and first quarter 2016's net cash outflow of USD 82.2 million. The higher cash outflow of this quarter is associated mainly with the financial debt prepayments in Chile for USD 240.8 million explained before and with the distribution of an additional dividend for USD 40.6 million. Non-Operating Income of second quarter 2016 recorded losses of USD 29.9 million, higher than the losses of USD 22.4 million in second quarter 2015 and the losses of USD 20.8 million in first quarter 2016. The increase over the same quarter of the previous year is mainly explained by higher financial expenses due to the consolidation of Fenix Power's debt; and by the impact of prepayment of financial debt in Chile, and the resulting recognition of expenses from these payments.
For the six months, the company reported operating revenues of USD 732.7 million, operating income of USD 210.4 million, EBITDA of USD 321.3 million, net income before tax of USD 159.7 million, net income from continuing operations of USD 127.5 million and net income attributable to stockholders of the parent company of USD 127.5 million. In cumulative terms, a net outflow for USD 416.6 million was recorded at June 2016, higher than the negative net outflow of USD 108.8 million at Jun15, mainly due to the same reasons that explain the variations in quarterly basis. Net debt was USD 1,161.2 million compared to USD 964.5 million a year ago. Non-operating income recorded losses of USD 50.7 million compared to losses of USD 42.6 million at June 2015. The higher loss is explained by the same reasons that explained the variations on quarterly basis.
For the quarter, the company reported total own generation of 3,313 GWh against 3,388 GWh a year ago.
For the six months, the company reported total own generation of 6,535 GWh.
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. 
