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Asesores Financieros
1Q15 Results Presentation| June 2015
Agenda
Resultados Dec-14
02Main
Consolidated
figures
03SK’s subsidiaries
Highlights
04Financial
Exhibits
01General Background
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%
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
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+ +
6
Agenda
Results as of Mar-15
02Main
Consolidated
figures
03SK’s subsidiaries
Highlights
04Financial
Exhibits
01General Background
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$286.5 million and aconservative level of consolidated debt.The net financial debt-to-EBITDA ratio is1.88.
Mar-14 Mar-15 Var.
Sales 646.159 550.438 -14,8%
EBITDA (1) 92.476 89.603 -3,1%
EBITDA Margin 14,3% 16,3%
EBITDA Pro Forma (2) 105.369 102.425 -2,8%
Profi t (Loss ) 55.425 48.077 -13,3%
Sigdo Koppers Net Profit (non
recurrent)35.333 31.381 -11,2%
Dic-14 Mar-15 Var.
Total Assets 3.428.052 3.403.048 -0,7%
Total Equity (3) 1.602.489 1.617.665 0,9%
Deuda Financiera Neta 787.549 680.954 -13,5%
Deuda Financiera Neta/ EBITDA 2,15 1,88
ROE 11,23% 10,80%
ROCE 9,39% 9,47%
Consolidated Income StatementFigures in ThUS$
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$MM)
99
EBITDA Pro-FormaBy business area : Mar-14 v/s Mar-15 (US$ 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
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.
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)
Agenda
Results as of Mar-15
02Main
Consolidated
figures
03SK’s subsidiaries
Highlights
04Financial
Exhibits
01General Background
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
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$3millions (-12% en pesos)
EBITDA Margin: 15%
Fepasa signed a contract with Anglo American to carrycopper concentrate via railroad from Las Tortolas Plant(Los Andes) to Puerto Ventanas, beginning operationsin 2017.
15
Enaex
Results as of Mar-15
Mar-14 Mar-15 Var.
MUS$ 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)
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$8 millions as of 1Q15.
Start-up phase of the new HiCr ball production plant inThailand that will have a capacity to produce 50,000 tons.
17
SK Comercial
Results as of Mar-15
Distribution of SK Rental Fleet by Country (US$)
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$1.4 millions
This result is composed of a lower yield in machinery rental business inChile (SK Rental) and lower business performance in DistributionServices.
18
SK Inversiones Automotrices
Perú
Argentina
Chile
Colombia
Results as of Mar-15
Mar-14 Mar-15 Var.
MM$ 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
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$1.4 millions (-19%). Contraction of Distribution and Rental of machinery businesses in Chile.
Crecimiento en ventas de SK Rental en Perú (+10%) & Colombia in growth stage
SKBergé:
Decreased of units sold -18% (abroad +1% & in Chile -32%)
Better conditions of FX
Summary highlights of SK Companies – 1Q15
Results as of Mar-15
Agenda
02Main
Consolidated
figures
03SK’s subsidiaries
Highlights
04Financial
Exhibits
01General Background
Results as of Mar-15
Income Statement of Sigdo Koppers
21
Results as of Mar-15
Mar-14 Mar-15 Var.
Sales 646.159 550.438 -14,8%
Sales expenses -502.315 -418.808 16,6%
Gross income 143.844 131.630 -8,5%
Other operating income 4.141 3.756 -9,3%
Distribution costs -22.438 -20.208 9,9%
Administrative expenses -61.047 -52.585 13,9%
Other operating expenses -1.539 -1.295 15,9%
Operating income 62.961 61.298 -2,6%
EBITDA 92.476 89.603 -3,1%
% EBITDA Margin 14,3% 16,3%
Interest income 1.120 935 -16,5%
Interest expenses -13.851 -12.365 10,7%
Related companies income 12.893 12.822 -0,6%
Exchange differentials 2.404 -4.329 -280,1%
Price - level restatement -2.568 2.447 195,3%
Other income (losses) 1.830 -195 -110,7%
Gain (losses) between book value and fair value
(financial assets)7 0
Income before taxes 64.796 60.613 -6,5%
Income tax -9.371 -12.536 -33,8%
Income 55.425 48.077 -13,3%
Gain (losses) from uncontinnued operations 0 -
Net income 55.425 48.077 -13,3%
Income attributable to Sigdo Koppers 35.333 31.381 -11,2%
Income attributable to non-control l ing
interests20.092 16.696 -16,9%
Net income 55.425 48.077 -13,3%
Sigdo Koppers
Consolidated Income Statement
Figures in ThUS$
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$
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$
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$
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
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
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
Asesores Financieros
4Q14 Results Presentation| Larrain Vial Andean Conference March 2015