Historia SIE
Corporate Presentation
Sociedad de Inversiones en Energía S.A.
July 2013
General Information
Historia SIE
Corporate
Name
Sociedad de
Inversiones en Energía
S.A.
TIN*
Main Domicile
Calle 67 No. 7-35, Of.
608
Telephone 3212925
City
Bogotá
Fax
3212925
A.G.S. S.A.S.
Legal
Felipe Tovar De
Representative
Andreis
Web Site
www.inversionesenenergia.com
SFC Action
Code**
ISIN
COT05PA00017
COT05PAAO001
*TIN: Stands for Taxpayer Identification Number
**SFC: stands for Office of the Superintendent of Finance of Colombia
830.080.718-2
Structure
Historia SIE
COMPAÑIA DE PETROLEOS DE CHILE COPEC S.A.
www.copec.cl
PROENERGÍA INTERNACIONAL S.A.
www.proenergiainternacional.com
SOCIEDAD DE INVERSIONES EN ENERGÍA S.A.
www.inversionesenenergia.com
TERPEL DEL CENTRO S.A.
ORGANIZACIÓN TERPEL S.A.
www.terpel.com
Historia SIE
Shareholder Composition
32,79%
Proenergía
Copec
Otros
52,79%
14,39%
July 2013
Gazel
Capitalization
process ends (OT)
/ SIE acquires
88,9% of OT
Merger of six
Terpeles with OT,
SIE is listied in
BVC / Change of
Control
(Proenergia)
2006
2007
Reacquisition
of 16 million
SIE shares
Change of
Control
(indirect)
COPEC
Merger
Gazel OT
2013
Acquisition
Shares
Terpeles
2012
2010
2006
Beginning of
Gazel
capitalization
in OT
2009
Terpeles
Reorganizatión
capitalization
of
Organización
Terpel (OT)
(contribution)
2008
Incorporation
of SIE,
Integrates
75% of Terpel
Shareholders
2004
2001
Historia SIE
2002
2006
Hitos en la Historia de la SIE
Bonds
Issue
OT
Historia SIE
Sociedad de Inversiones en Energía S.A. is a business
corporation created on December 28, 2000 by means of public
deed number 6886 granted by the 6th Notary Office of the
Bogotá Circle, and domiciled in Bogotá, Colombia.
Its main corporate purpose is the acquisition of interests in
companies engaged in the exploration, exploitation, refining,
import, export and distribution of oil and its derivatives or of any
other energy resource.
Historia SIE
Its principal investment is Organización Terpel SA, leading
distributor of Liquid Fuels and Vehicle Natural Gas in Colombia,
with a share in market of 40% and 45% respectively,
according to estimates based on information from the Ministry
of Finance and the Ministry of Energy Mines. Additionally it has
presence in Ecuador, Panama, Mexico, Peru and Dominican
Republic and has a broad portfolio of business services in EDS,
enterprise mobility, industry, aviation, marine and Lubricants
and other additional services related to the stations.
www.terpel.com
Historia SIE
The Company has acquired shares of its own and shares of
Organización Terpel (OT), which has represented an increase
with respect to the original participation that now is 88.9%.
This was carried out through more than ninety-five (95)
transactions, including two (2) takeover bids (Terpel Sur and
Antioquia) and a public bid (Fogafin). The value of the
acquisitions was 180 thousand million pesos, all of them
obtained through loans with from local banks, and for which
several valuations were carried out by external and
independent advisors.
La Sociedad de Inversiones en Energía is a holding company
and its operating income comes from equity method. The
Company has paid more than $557 thousand million pesos in
dividends.
Historia SIE
The Business Reorganization Process concluded in July 2004, with
the capitalization of the OT with contributions in kind (productive
assets) made by the seven (7) Terpel companies.
The acquisition of Gazel concluded in January 2008. This process
took about two (2) years and required two (2) takeover bids to
dislist the shares of Terpel Centro and Terpel del Sur from the
Stock Exchange of Colombia.
The merger of six (6) Terpel companies into the OT concluded in
August 2009, constituting the second most complex merger
conducted in Colombia. This transaction required four (4)
shareholders’ extraordinary meetings and took two (2) years.
Historia SIE
The dematerialization of SIE shares and the registration of the
company in the National Securities and Issuers Register (RNVE by
its acronym in Spanish) and at the Stock Exchange of Colombia
were carried out in October 2009. In this same year, an internal
control system was implemented that has allowed more and better
controls.
In year 2010, Compañía de Petróleos de Chile Copec S.A.
registered an indirect control situation exercised thereby over SIE.
In 2012 the merger process between Organización Terpel and
Gazel is concluded.
In 2013 Organización Terpel issues bonds.
Historia SIE
Liquidity
Current Ratio (times)
Working Capital (million $)
Solvency and Coverage
Indebtedness / Total Assets Ratio
EBITDA (million $)
EBITDA Coverage/Financial
Expenses
Financial debt / EBITDA (times)
Profitability
Return on total assets at beginning
of period.
Return on equity at beginning of
period.
Intrinsic value per share
(pesos)
FINANCIAL INDEXES
As at
As at December
December 31,
31, 2011
2012
0,40
(2.410)
0,10
(5.037)
12,53%
12,49%
105.772
135.322
7,35
1,71
10,73
1,34
6,20%
8,35%
7,12%
9,58%
6.840,25
6.870,54
Historia SIE
Liquidity
Current Ratio and Working Capital: these figures present a positive variation due to an
increase in accounts receivable from economically related companies ($1,124 MM) and a
reduction in the equity tax liability ($1,506 MM).
Solvency and Coverage
Indebtedness/Total Assets Ratio: this indicator did not show significant variations in this
period.
EBITDA
EBITDA Coverage/Financial Expenses: this indicator varied because Term Deposits increased in
year 2012 in spite that the debt did not vary and EBITDA decreased due to a decrease in the
profits of Organización Terpel S.A.
Financial Debt / EBITDA (times): Stable indicator; the debt has not increased and EBITDA
decreased due to a decrease in the profits of Organización Terpel S.A.
Profitability
Return on total assets and equity at the beginning of the period: the return on assets and
equity decrease as a result of a decrease in the profits of Organización Terpel S.A.
Historia SIE
FELIPE TOVAR DE ANDREIS
gerencia@inversionesenenergia.com
Calle 67 # 7 – 35 Oficina 608
Tels: 321 2925
www.inversionesenenergia.com