Summary




CPFL Energia Highlights and Results



Performance in Capital Market



Value Creation Agenda
6
7
8
Distribution – 3Q05 Results
      Gross Revenue – R$ million                    R$ 324 million Gross Revenue increase (14%...
Commercialization – 3Q05 Results
Gross Revenue – R$ million
                                 1.013
                       ...
Generation – 3Q05 Results
Gross Revenue – R$ million
                                  320
                               ...
12
CPFL will invest around R$ 2,6 billion for business
                                               maintenance and expansi...
Summary




CPFL Energia Highlights and Results



Performance in Capital Market



Value Creation Agenda
Performance in Capital Market - Returns

            Shares Performance - BOVESPA1                                    Shar...
Performance in Capital Market - Liquidity

              BOVESPA
                                                         ...
Summary




CPFL Energia Highlights and Results



Performance in Capital Market



Value Creation Agenda
18
20
Conferência Merril Lynch*
Conferência Merril Lynch*
Conferência Merril Lynch*
Conferência Merril Lynch*
Conferência Merril Lynch*
Conferência Merril Lynch*
Conferência Merril Lynch*
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Conferência Merril Lynch*

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Conferência Merril Lynch*

  1. 1. Summary CPFL Energia Highlights and Results Performance in Capital Market Value Creation Agenda
  2. 2. 6
  3. 3. 7
  4. 4. 8
  5. 5. Distribution – 3Q05 Results Gross Revenue – R$ million R$ 324 million Gross Revenue increase (14%) 7.443 6.656 3.1% energy sales growth in concession area 111% “TUSD” revenue growth 2.235 2.559 12% Tariff adjustment of distribution companies 14% CPFL Piratininga: 14% (Oct/04) 3Q04 3Q05 9M04 9M05 CPFL Paulista: 18,76%1 (Apr/05) RGE: 21,93% (Apr/05 EBITDA– R$ million 1.242 867 R$ 224 million EBITDA increase (103%) 324 million gross revenue increase (14%) 443 43% 54 million Taxes2 increase (8%) 219 103% 6% operating expenses increase 3Q04 3Q05 9M04 9M05 Net Income – R$ million 501 385% R$ 211 million Net Income increase (1026%) 103 R$ 224 million EBITDA increase (103%) 1.026% 190 R$ 55 million financial income3 improvement (57%) (21) 3Q04 3Q05 9M04 9M05 2 Revenue deduction 1 In April/05: 17,74% + adjustment of 1,01% homologated by ANEEL in July/05 3 Expense net of revenue
  6. 6. Commercialization – 3Q05 Results Gross Revenue – R$ million 1.013 R$ 116 million Gross Revenue increase(45%) 649 85% energy sales growth in Free Market 257 373 56% 77% Value Added Services Revenue increase 45% 3Q04 3Q05 9M04 9M05 EBITDA – R$ million 164 R$ 11 million EBITDA increase (31%) 114 R$ 116 million revenue increase (45%) 44% 38 49 Energy Cost growth above the gross revenue 31% increase 3Q04 3Q05 9M04 9M05 Net Income – R$ million 112 76 48% R$ 9 million Net Income Increase (38%) 38% 34 25 R$ 11 million EBITDA increase (31%) Financial revenues Growth 3Q04 3Q05 9M04 9M05
  7. 7. Generation – 3Q05 Results Gross Revenue – R$ million 320 R$ 33 million Gross Revenue increase (42%) 243 Beginning of HPP Monte Claro operation, increasing 88 GWh in 3Q05 (9% of the total) 110 77 31% Average price increase 42% Semesa 12,42% (Jan/05) 3Q04 3Q05 9M04 9M05 Centrais Elétricas 11,12% (Apr/05) EBITDA – R$ million 258 208 R$ 24 million EBITDA increase (36%) 65 89 24% R$ 33 million gross revenue increase (42%) 36% Taxes: R$ 7 million Pis/Cofins increase (182%) 3Q04 3Q05 9M04 9M05 Net Income – R$ million 87 52 66% R$ 18 million Net Income increase (125%) 32 14 R$ 24 million EBITDA increase (36%) 125% 6% Financial income improvement 3Q04 3Q05 9M04 9M05
  8. 8. 12
  9. 9. CPFL will invest around R$ 2,6 billion for business maintenance and expansion, until 2008 Total Capex 723 Capex – Expansion, Generation and 681 % of 626 total Distribution 179 158 559 159 544 161 25% 523 467 544 523 467 398 398 75% 320 270 218 373 374 311 240 2005E 2006E 2007E 2008E 180 Expansion Maintenance 53 104 93 60 Capex - Maintenance % of total 179 171 149 156 158 15 158 159 161 15 9 10 7% 2005E 2006E 2007E 2008E 164 Generation Distribution 143 150 151 93% Capex - Equity Total Capex - Expansion Capex - Debt 2005E 2006E 2007E 2008E Distribution Generation
  10. 10. Summary CPFL Energia Highlights and Results Performance in Capital Market Value Creation Agenda
  11. 11. Performance in Capital Market - Returns Shares Performance - BOVESPA1 Shares Performance - NYSE1 85% 65% 43% 48% 28% -1% IBOVESPA IEE CPFE3 Dow Jones DJ BR 20 CPL Stock Total Trading Volume2 40% 39% Liquidity 50,4% maintenance in both markets 60% 61% 49,6% IPO 28-dez-05 ON ADR 1 2005. Share´s price on 30/12/2005: CPFE3 (R$ 28,00) – CPL (US$ 34,85) 2 2005 15
  12. 12. Performance in Capital Market - Liquidity BOVESPA CPFL Energia IBrX Brazil Index – IBrX (IBX-100) Daily average trade volume - 2005 R$ million IEE Electric Energy Index 7,1 Differentiated Tag Along Shares ITAG Index 3,6 Differentiated Corporate Governance IGC Shares Index ISE Corporate Sustainability Index Bovespa Bovespa + Nyse NYSE DJBr20 Dow Jones Brazil Titans 20 ADR Index Negotiability Index: 68th place over 12 last months Aiming for inclusion in IBX-50 16
  13. 13. Summary CPFL Energia Highlights and Results Performance in Capital Market Value Creation Agenda
  14. 14. 18
  15. 15. 20

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