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1Q15 Results Presentation| June 2015

Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

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Page 1: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Asesores Financieros

1Q15 Results Presentation| June 2015

Page 2: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Agenda

Resultados Dec-14

02Main

Consolidated

figures

03SK’s subsidiaries

Highlights

04Financial

Exhibits

01General Background

Page 3: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

3

286(1)

121(2)

Company Overview

Source: Company

Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of March 2015,

(1) Net Profit of 2011 have an extraordinary effect of US$157 millions mainly due to the sale of CTI

(2) Net Profit of 2013 have an extraordinary loss of US$29.2 millions mainly due to the sale of Sigdopack

Corporate Presentation |Sigdo Koppers .

Sales(US$ millions)

Consolidated EBITDA(US$ millions)

Net Profit (US$ millions)

Sigdo Koppers, Chilean conglomerate founded in

1960. One of the most dynamic and important

industrial groups in Chile. Our commitment is a

long term investment industrial approach, aiming to

be a comprehensive supplier of products and

services for the mining and industrial operations

worldwide.

SK ComercialIngeniería y

ConstrucciónEnaex Magotteaux

60.43% 60.72% 95.00% 85.77%

Enaex Magotteaux SK Comercial

SKBergéPuerto

VentanasCHBBSK Godelius

50.01% 58.19% 74.59% 40.00%

Page 4: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

4

Corporate Governance

Ownership StructureBoard of Directors

Source: Santiago Stock Exchange. (1) Last 12 month

Corporate PresentationSigdo Koppers .

Daily Average vol. traded (1): US$0,6 millions

Market Cap: US$1,650 millions (As of Mar 30th 2015)

5,95% Stock Brokers

6,43% Mutual Funds and

other institutional

investors

9,21% Pension Funds

and Insurance companies

1,99% Others

Ownership structure as of Mar-151. Juan Eduardo

Errázuriz Ossa

Chairman

2. Naoshi Matsumoto

Takahashi

Vicepresident

3. Juan Andrés Fontaine

Talavera

Director

4. Horacio Pavez García

Director

5. Norman Hansen Rosés

Director

6. Canio Corbo Lioi

Director

7. Jaime Vargas Serrano

Director

14 752 63

Page 5: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

5

ORE

PROCESSING

Supplier of products and services for the mining

Strategic Focus: Provide products and

services for the mining and industry

Involved in the main stages of the mining

value chain

aprox. 75% of the SK’s Consolidated EBITDA

comes from the exposure to the mining activities

Corporate Presentation |Investment approach .

Anglo American - Minera Los Bronces:

MINING OPERATION SALES & LOGISTICSMINING

DEVELPOMENT

1 3 42

1 2 3 4+ + +

BHP Billiton - Minera Escondida:

1 2 3 4+ + +Codelco – Andina:

1 2 3+ +

Page 6: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

6

Agenda

Results as of Mar-15

02Main

Consolidated

figures

03SK’s subsidiaries

Highlights

04Financial

Exhibits

01General Background

Page 7: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

7

7

The consolidated revenues droped inUS$95.72 millon

US$79 millon explained by alower activity in ICSK

US$15 million explained byexchange rate

US$7 million explained by loweractivity in machinery distributionbusiness in SKC

Sigdo Koppers’ consolidated EBITDA wasUS$89.6 million as at March 2015, adecline of 3.1%. Nonetheless, the EBITDAmargin rose from 14.3% to 16.3%, areflection of the cost control efforts inseveral of the companies.

The net profit totaled US$31.4 million, adecrease of 11.2% compared to the closeof the previous year.

Highlights as of March 2015Results as of Mar-15

(1) EBITDA = Ganancia Bruta + Otros Ingresos por Función – Costos de Distribución - Gastos de Administración – Otros Gastos por

Función + Gastos de Depreciación y Amortización

(3) EBITDA Pro-forma: considera las utilidades de empresas relacionadas que no consolidan.

Sigdo Koppers has a good consolidatedcash liquidity of US$286.5 million and aconservative level of consolidated debt.The net financial debt-to-EBITDA ratio is1.88.

Mar-14 Mar-15 Var.

Sales 646.159 550.438 -14,8%

EBITDA (1) 92.476 89.603 -3,1%

EBITDA Margin 14,3% 16,3%

EBITDA Pro Forma (2) 105.369 102.425 -2,8%

Profi t (Loss ) 55.425 48.077 -13,3%

Sigdo Koppers Net Profit (non

recurrent)35.333 31.381 -11,2%

Dic-14 Mar-15 Var.

Total Assets 3.428.052 3.403.048 -0,7%

Total Equity (3) 1.602.489 1.617.665 0,9%

Deuda Financiera Neta 787.549 680.954 -13,5%

Deuda Financiera Neta/ EBITDA 2,15 1,88

ROE 11,23% 10,80%

ROCE 9,39% 9,47%

Consolidated Income StatementFigures in ThUS$

Page 8: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

88

Results as of Mar-15

Magotteaux

(Tons)

Puerto Ventanas

(Mtons)

SKBergé

(units)

Level of Activity - Physical Sale

Services Industrial Commercial & Automotive

Ing. y Construcción

(millions Men Hours)

Enaex

(MTons)

SK Comercial

(units)

SK Rental

Fleet (US$MM)

Page 9: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

99

EBITDA Pro-FormaBy business area : Mar-14 v/s Mar-15 (US$ Thu)

Results as of Mar-15

-2,8%

Lower EBITDA

Pro-Forma en CLP

(-42,4%)

Less IT

expenses

Lower EBITDA due

to lower physical

sales

Increased

Revenue and

operational

efficiency in Port

Business

Better performance in

both castings and

grinding balls.

Lower performance in

both Leasing and

Distribution &

Services

Less favorable

exchange rate

conditions

Services

Industrial

Commercial y

Automotive

EBITDA Pro-Forma

by business area

Page 10: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

10

CAPEX

10

Results as of Mar-15

(1) Capex Neto: El Capex de SKC incluye la venta de maquinaria usada de SK Rental

Mar-14 Mar-15

MUS$ MUS$

Área Servicios 3.441 4.898

Ingeniería y Construcción SK 1.464 1.812

Puerto Ventanas 1.977 3.086

Área Industrial 21.810 13.735

Enaex 4.744 8.179

Magotteaux 17.066 5.556

SK Inv. Petroquímicas - -

Área Comercial y Automotriz 5.816 1.651

SK Comercial (1) 5.816 1.651

SKIA - -

Capex Empresas SK 31.066 20.284

Capex

Áreas de NegociosMajor investments in fixed assets:

Puerto Ventanas: Begins construction ofwarehouse for copper concentrate capacity of46,000 Tons (US $ 21 million investment)

Enaex: New Plant for cartridged emulsions in RioLoa de 14.400 Tons/year (Investment US$ 11million)

SK Comercial: Lower investment in SK Rental’sfleet, lower activity.

Page 11: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

11

Financial Net Debt/EBITDAFinancial Debt

11

Servicios

Industrial

Comercial y

Automotriz

Matriz

US$ 968 millon – Consolidated

US$ 681 millon – Financial Net Debt

Current 30%

Non Current 70%

Cash (US$ millon) Financial Key Indicators

Conservative Financial Profile

Results as of Mar-15

1,88x

Consolidated Leverage : 1,10x

Financial Net Leverage : 0,42x

Financial Net Debt/EBITDA: 1,88x

Rating: A+ (Feller-Rate, Fitch-Ratings)

Page 12: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Agenda

Results as of Mar-15

02Main

Consolidated

figures

03SK’s subsidiaries

Highlights

04Financial

Exhibits

01General Background

Page 13: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Ingeniería y Construcción SK

ICSK reached 5.1 million man-hours (-35%), reflecting a drop inactivity, particularly in the mining sector.

Its net profit totaled CH$3.121 billion (US$5.0 million), adecrease of 47% in pesos compared to the first quarter of 2014.

Pro-Forma EBITDA (*) de $5.989 millon (-42,4%)

The backlog as of March 31, 2015 was US$695 million, a rise of58.4% in pesos compared to December 2014. The reason wasthe award of the SIC-SING interconnection project that willentail an investment of close to US$320 million.

Backlog distribution: Chile (89%) & Perú (11%).

(*) Incorpora la utilidad empresas relacionadas

Results as of Mar-15

13

Mar-14 Mar-15 Var.

MM$ MM$ %

Revenue 94.240 51.247 -45,6%

EBITDA 6.577 2.548 -61,3%

EBITDA Margin 7,0% 5,0%

EBITDA Pro-Forma (*) 10.404 5.989 -42,4%

Control ler's net profi t 5.847 3.121 -46,6%

Horas

(Miles)

Horas

(Miles) Var.

Tota l man-hours executed 7.837 5.111 -34,8%

Ingeniería y Construcción Sigdo

Koppers

Page 14: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Puerto Ventanas

14

Results as of Mar-15

Mar-14 Mar-15 Var.

MUS$ MUS$ %

Revenue 35.330 33.904 -4,0%

EBITDA 11.612 12.176 4,9%

EBITDA Margin 32,9% 35,9%

Control ler's net profi t 6.241 7.201 15,4%

PVSA - Tons transferred 1.524.332 1.597.306 4,8%

Fepasa - Th Ton-Km 307.076 305.289 -0,6%

Puerto Ventanas

Consolidated

Puerto Ventanas 1,597,306 tons (+4.8%) transfered as of Mar-15

Coal (+22%)

Clinker (+59%)

Cooper Concentrate (-16%)

Revenues from the Port Business grew 4%compared to Mar-14

Port business EBITDA increased 18% due to higheroperating efficiency and more favorable exchangerate.

EBITDA Margin: 60%

PVSA Holds a market share of 62% in solid bulk asof March 2015

Fepasa

Fepasa carried a total of 305,289 Ktons-Km ofcargo 1Q15 (-1%)

Mining cargo (21% of total transported): +4%in Ton/Km

Forestry cargo (pulp): (54% of totaltransported): +4% in Ton/Km

Fepasa consolidated EBITDA reached US$3millions (-12% en pesos)

EBITDA Margin: 15%

Fepasa signed a contract with Anglo American to carrycopper concentrate via railroad from Las Tortolas Plant(Los Andes) to Puerto Ventanas, beginning operationsin 2017.

Page 15: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

15

Enaex

Results as of Mar-15

Mar-14 Mar-15 Var.

MUS$ MUS$ %

Revenue 147.418 155.784 5,7%

EBITDA 40.587 38.064 -6,2%

EBITDA Margin 27,5% 24,4%

Control ler's net profi t 27.177 23.690 -12,8%

Enaex

Enaex recorded revenues of US$156 million (+6%)

Physical sales totaled 199 Ktons(-5%)

Increase of 4% in physical sales in the rock blasting servicesbusiness compared to 1Q14.

The average price of ammonia reach US$501/ton(+11%)

The consolidated EBITDA of Enaex was US$38 million (-6%)

Enaex recorded a net profit of US$24 million (-13%)

Enaex agreed to buy Davey Bickford, a global manufacturerand distributor of electronic detonators for the explosivesindustry at $ 103.3 million Euros.

Enaex bought 50% share of Xion Participacoes, for $ 70million. Enaex now controls 100% of the Brazilian companyIBQ (Britanite).

Physical Sales Evolution (Thu tons)

Page 16: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Mar-14 Mar-15 Var.

MUS$ MUS$ %

Revenue 194.952 191.445 -1,8%

EBITDA 15.646 20.599 31,7%

EBITDA Margin 8,0% 10,8% 0,0%

Control ler's net profi t 6.979 7.702 10,4%

Magotteaux Group (1)

Results as of Mar-15

Magotteaux

16

Mar-14 Mar-15

Tons Tons

Mil l Ba l ls 80.745 83.712 3,7%

Casting 12.386 12.373 -0,1%

Total 93.131 96.085 3,2%(1) Consolidated figures of Magotteaux & SK Sabo Chile S.A.

Magotteaux Group (1) Var.

% Consolidated income totaled US$191 million as of 1Q15 (-2%)

Physical sales totaled 96 Mtons (+3%)

93,712 tons of mill balls (+4%) (80% in mining)

12,373 tons of castings (53% in cement, 30% in agregates)

EBITDA amounted to US$21 millions as of Mar-15 (+32%)

Better performance and margins in the business lines of castingand grinding balls

Lower SG&A – reorganization process

The company earned a net profit of US$8 millions as of 1Q15.

Start-up phase of the new HiCr ball production plant inThailand that will have a capacity to produce 50,000 tons.

Page 17: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

17

SK Comercial

Results as of Mar-15

Distribution of SK Rental Fleet by Country (US$)

Mar-14 Mar-15 Var.

MUS$ MUS$ %

Revenue 98.143 87.899 -10,4%

Distribution Business 66.928 61.082 -8,7%

Rental Business 39.158 36.653 -6,4%

Consolidation adjust -7.942 -9.835 23,8%

EBITDA 15.956 15.729 -1,4%

EBITDA Margin 16,3% 17,9%

Control ler's net profi t 1.770 1.440 -18,6%

SK Comercial

Consolidated revenues totaled US$88 millions (-10%)

The machinery distribution business sold 501 units (-4%).

SK Rental revenue dropped 6% compared to 1Q14 (FX impact)

SK Rental Consolidated fleet reaches 4,901 units (valued at US $ 250millions)

Consolidated EBITDA reached US$16 millions (-1%)

Consolidated EBITDA Margin of 18%

The net profit of SK Comercial totaled US$1.4 millions

This result is composed of a lower yield in machinery rental business inChile (SK Rental) and lower business performance in DistributionServices.

Page 18: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

18

SK Inversiones Automotrices

Perú

Argentina

Chile

Colombia

Results as of Mar-15

Mar-14 Mar-15 Var.

MM$ MM$ %

Uti l idad Neta Controladora 3.453 4.423 28,1%

SK Inversiones

Automotrices

SKIA recorded revenues of MCH$4,423 (US$7millions) (+28%).

Result affected by favorable exchange rate.

SKBergé sold 16,442 units, showing andecrease of (18%) compared to 1Q14.

Best performance in overseas sales 8,880units (+1%)

ANAC recorded sales of 63,593 units in Chile atthe end of 1Q15 (-28%).

High growth potential in countries with lowdensity of cars like Peru and Colombia

Page 19: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

19

Ingeniería y Construcción Sigdo Koppers:

Recorded 5 millions Man Hours (-35%) (Includes direct sales and consortiums)

The award of the SIC-SING interconnection project that will entail an investment of close to US$320 million.

Puerto Ventanas:

Higher valued sales in the Port Business (+4%) with greater operational efficiency, EBITDA margin reached 60% in the

port business

Consolidated net profit reached US$7 millions (+15%)

Enaex:

Physical sales of 198,660 Tons of explosives (-5%) and growth in service of rock fragmentation in Chile (+4%).

Net profit of US$24 millions (-13%)

Magotteaux:

Higher physical sales (+3%) (Balls +4% & Casting 0%)

Net profit of US$8 millions (+10%)

SK Comercial:

Net profit reached US$1.4 millions (-19%). Contraction of Distribution and Rental of machinery businesses in Chile.

Crecimiento en ventas de SK Rental en Perú (+10%) & Colombia in growth stage

SKBergé:

Decreased of units sold -18% (abroad +1% & in Chile -32%)

Better conditions of FX

Summary highlights of SK Companies – 1Q15

Results as of Mar-15

Page 20: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Agenda

02Main

Consolidated

figures

03SK’s subsidiaries

Highlights

04Financial

Exhibits

01General Background

Results as of Mar-15

Page 21: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Income Statement of Sigdo Koppers

21

Results as of Mar-15

Mar-14 Mar-15 Var.

Sales 646.159 550.438 -14,8%

Sales expenses -502.315 -418.808 16,6%

Gross income 143.844 131.630 -8,5%

Other operating income 4.141 3.756 -9,3%

Distribution costs -22.438 -20.208 9,9%

Administrative expenses -61.047 -52.585 13,9%

Other operating expenses -1.539 -1.295 15,9%

Operating income 62.961 61.298 -2,6%

EBITDA 92.476 89.603 -3,1%

% EBITDA Margin 14,3% 16,3%

Interest income 1.120 935 -16,5%

Interest expenses -13.851 -12.365 10,7%

Related companies income 12.893 12.822 -0,6%

Exchange differentials 2.404 -4.329 -280,1%

Price - level restatement -2.568 2.447 195,3%

Other income (losses) 1.830 -195 -110,7%

Gain (losses) between book value and fair value

(financial assets)7 0

Income before taxes 64.796 60.613 -6,5%

Income tax -9.371 -12.536 -33,8%

Income 55.425 48.077 -13,3%

Gain (losses) from uncontinnued operations 0 -

Net income 55.425 48.077 -13,3%

Income attributable to Sigdo Koppers 35.333 31.381 -11,2%

Income attributable to non-control l ing

interests20.092 16.696 -16,9%

Net income 55.425 48.077 -13,3%

Sigdo Koppers

Consolidated Income Statement

Figures in ThUS$

Page 22: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Revenue of Sigdo Koppers

22

Results as of Mar-15

(1)Magotteaux’s figures include income of SK Sabo Chile S.A. The profits attributable to the controller were adjusted in the different

companies through which Sigdo Koppers controls Magotteaux.

(2) SK Inversiones Automotrices S.A. (SKIA) does not account for the income of SKBergé because it holds 40% of its shares and, therefore,

does not consolidate its financial statements.

(3) Eliminations and adjustments as of December are mainly the result of consolidated intercompany eliminations.

Mar-14 Mar-15 Var.

Services 206.129 115.976 -43,7%

Ingeniería y Construcción SK 170.799 82.072 -51,9%

Puerto Ventanas 35.330 33.904 -4,0%

Industrial 343.338 348.121 1,4%

Enaex 147.418 155.784 5,7%

Magotteaux (1) 194.952 191.445 -1,8%

Sigdopack 0 - -

SK Inv. Petroquímicas 968 892 -7,9%

Commercial & Automotive 98.143 87.899 -10,4%

SK Comercial 98.143 87.899 -10,4%

SKIA (2) - - -

Parent company & adjustment(3) -1.451 -1.558 7,4%

Consolidated Sales 646.159 550.438 -14,8%

Revenue

Business Areas

Figures in ThUS$

Page 23: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

EBITDA of Sigdo Koppers

23

Results as of Mar-15

(1) Magotteaux’s figures through December include the EBITDA of SK Sabo Chile S.A.

(2) SK Inversiones Automotrices S.A. (SKIA) does not account for the EBITDA of SKBergé because it owns 40% of its shares and, therefore, it

does not consolidate its financial statements.

(3) Pro Forma EBITDA = EBITDA + Related Company Profits

Mar-14 Mar-15 Var.

Services 23.572 16.257 -31,0%

Ingeniería y Construcción SK 11.920 4.081 -65,8%

Puerto Ventanas 11.652 12.176 4,5%

Industrial 56.862 59.221 4,1%

Enaex 40.587 38.064 -6,2%

Magotteaux (1) 15.646 20.599 31,7%

Sigdopack 0 - -

SK Inv. Petroquímicas 629 558 -11,3%

Commercial & Automotive 15.935 15.707 -1,4%

SK Comercial 15.956 15.729 -1,4%

SKIA (3) -21 -22 7,0%

Parent company & adjustment -3.893 -1.582 -59,4%

Consolidated EBITDA 92.476 89.603 -3,1%

EBITDA Margin 14,3% 16,3%

Consolidated pro-forma EBITDA 105.369 102.425 -2,8%

EBITDA

Business Areas

Figures in ThUS$

Page 24: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Net Profit of Sigdo Koppers

24

Results as of Mar-15

(1) Magotteaux’s figures include income of SK Sabo Chile S.A. The profits attributable to the controller were adjusted in the different companies through

which Sigdo Koppers controls Magotteaux.

(2) The profit of CHBB was adjusted in SK Inversiones Petroquímicas S.A. through which Sigdo Koppers controls CHBB.

(3) Extraordinary effect associated with the sale of Sigdopack in September 2013.

Mar-14 Mar-15 Var. Mar-15 Mar-14 Mar-15 Var.

Services 16.839 12.199 -27,6% 9.526 6.529 -31,5%

Ingeniería y Construcción SK 10.598 4.998 -52,8% 60,43% 6.405 3.020 -52,8%

Puerto Ventanas 6.241 7.201 15,4% 50,01% 3.121 3.509 12,4%

Industrial 34.483 31.780 -7,8% 23.796 21.768 -8,5%

Enaex 27.177 23.690 -12,8% 60,72% 16.502 14.384 -12,8%

Magotteaux (1) 6.979 7.702 10,4% 95,00% 6.967 7.063 1,4%

SK Inv. Petroquímicas (2) 327 388 18,7% 74,59% 327 321 -1,8%

Commercial & Automotive 8.028 8.522 6,2% 7.775 8.316 7,0%

SK Comercial 1.770 1.440 -18,6% 85,77% 1.518 1.234 -18,7%

SKIA 6.258 7.082 13,2% 99,99% 6.257 7.082 13,2%

SK companies profit 59.349 52.501 -11,5% 41.097 36.613 -10,9%

Parent company & adjusments -5.764 -5.232

Total consolidated profit 35.333 31.381 -11,2%

Total Companies Attributable to parent companyNet profit

Business Areas

% SKFigures in ThUS$ Figures in ThUS$

Page 25: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Mar-14 Mar-15 Var.

Operating cash flow 91.624 95.248 4,0%

Investment cash flow -38.999 -17.879 -54,2%

Capex -39.900 -20.105 -49,6%

Fixed assets sales 750 405 -46,0%

Other 151 1.821 1106,0%

Finance cash flow 17.128 -25.092 -246,5%

Net variation in financial l iabilities 8.420 -26.031 -409%

Interest -11.748 -9.998 -14,9%

Dividends 0 -246

Capital increased 3.378 0 -100,0%

Other 17.078 11.183 -34,5%

Total net cash flow 69.753 52.277 25,1%

Effect of exchange rate changes -1.190 -4.292 260,7%

Cash and cash equivalent 283.960 282.768 -0,4%

Consolidated

Cash Flow

Figures in ThUS$

Cash Flow of Sigdo Koppers

25

Results as of Mar-15

Page 26: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Dec-14 Mar-15 Var.

Current Assets

Cash and cash equivalent 237.470 286.501 20,6%

Account and sales receivables 559.715 544.882 -2,7%

Inventories 311.007 298.366 -4,1%

Other current assets 54.256 52.474 -3,3%

Total current assets 1.162.448 1.182.223 1,7%

Long-term assets

Property, plants & equipment 1.181.320 1.154.793 -2,2%

Other long-term assets 1.084.284 1.066.032 -1,7%

Total long-term assets 2.265.604 2.220.825 -2,0%

Total assets 3.428.052 3.403.048 -0,7%

Current liabilities

Short-term financial debt 306.441 288.959 -5,7%

Accounts payable 272.273 287.037 5,4%

Other current l iabilities 155.592 171.333 10,1%

Total current liabilities 734.306 747.329 1,8%

Long-term liabilities

Long-term financial debt 718.578 678.496 -5,6%

Other long-term liabilities 373.429 359.558 -3,7%

Total long-term liabilities 1.092.007 1.038.054 -4,9%

Total liabilities 1.826.313 1.785.383 -2,2%

Equity

Attributable to the controller 1.198.855 1.209.978 0,9%

Attributable to non-controlling interests 403.634 407.687 1,0%

Total equity 1.602.489 1.617.665 0,9%

Total liabilities and equity 3.428.802 3.403.048 -0,8%

Consolidated Balance SheetFigures in ThUS$

Balance Sigdo Koppers

26

Results as of Mar-15

Indicators

Net Financial Debt 787.549 680.954

Working Capital 598.449 556.211

Working Capital Days 87 84

Days of Consolidated Inventory 58 58

Accounts Receivable (Days) 82 83

Accounts Payable Days 51 56

Page 27: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Revenue by country (incl. SK Bergé)D

27

Results as of Mar-15

As of december 2014

As of March 2015

Chile Perú Colombia Brasil AsiaNorte

AmericaEuropa Otros Países

MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$

Área Servicios 87,1% 12,9% 0,0% 0,0% 0,0% 0,0% 0,0% 0,0%

Ingeniería y Construcción SK 83,7% 16,3% - - - - - -

Puerto Ventanas 100% - - - - - - -

Área Industrial 51,0% 0,0% 0,0% 6,8% 9,8% 13,1% 15,4% 3,9%

Enaex 96,3% - - - - - - 3,7%

Magotteaux 13,1% - - 12,4% 18,0% 24,0% 28,4% 4,1%

SK Inv. Petroquímicas 100% - - - - - - -

Área Comercial y Automotriz 58,5% 30,1% 9,2% 0,5% 0,0% 0,0% 0,0% 1,6%

SK Comercial 80,2% 15,9% 1,1% 2,8% - - - -

SKIA 53,4% 33,4% 11,2% - - - - 2,0%

Ventas Empresas SK 60,7% 16,8% 4,5% 2,6% 3,4% 4,5% 5,3% 2,1%

Ventas

Áreas de Negocios

Chile Perú Colombia Brasil Asia Norte America Europa Otros Países

MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$

Área Servicios 86,6% 13,4% 0,0% 0,0% 0,0% 0,0% 0,0% 0,0%

Ingeniería y Construcción SK 81,1% 18,9% - - - - - -

Puerto Ventanas 100% - - - - - - -

Área Industrial 49,1% 0,0% 0,0% 6,4% 9,8% 16,1% 13,8% 4,8%

Enaex 94,5% - - - - - - 5,5%

Magotteaux 11,8% - - 11,7% 17,9% 29,4% 25,1% 4,2%

SK Inv. Petroquímicas 100% - - - - - - -

Área Comercial y Automotriz 56,0% 32,2% 8,5% 0,5% 0,0% 0,0% 0,0% 2,8%

SK Comercial 80,3% 15,5% 1,7% 2,5% - - - -

SKIA 49,4% 36,7% 10,3% - - - - 3,6%

Ventas Empresas SK 57,3% 16,9% 4,0% 2,8% 3,9% 6,4% 5,5% 3,2%

Ventas

Áreas de Negocios

Page 28: Asesores Financieros 1Q15 Results Presentation| June 2015...Results as of Mar-15 Magotteaux 16 Mar-14 Mar-15 Tons Tons Mill Balls 80.745 83.712 3,7% Casting 12.386 12.373 -0,1% Total

Asesores Financieros

4Q14 Results Presentation| Larrain Vial Andean Conference March 2015