5. Growth
BRL 800 million in investments.
We added 1,035 MVA of installed power.
Startup in operations of the Madeira
Complex transmission line
priority for pending compensation
for pre-May 2000 assets.
5
10. Other Operating Income (Expenses)
In 2013, the other operating income (expenses) account represents an
expense of R$ 531.7 million
Main impact was the provision for losses on the realization of receivables
due from the State Government of São Paulo’s Department of Finance
(SEFAZ-SP) worth R$ 516.3 million during the third quarter of 2013
Other Operating Income (Expenses)
(R$ million)
Operating Income
2012
18.4
4,457.5
Operating Expenses
(33.8)
(4,399.6)
SEFAZ-SP Provision
(516.3)
0
(531.7)
10
2013
57.9
11. Financial Result
Financial Result
(R$ million)
Company
Consolidated
2013
2012
Δ%
2013
2012
Δ%
Interest Receivable
170.8
31.5
441.5%
172.7
32.9
425.6%
Monetary (net)
66.1
45.7
(44.7%)
66.1
45.7
(44.7%)
(44.6)
(50.2)
(30.3%)
(45.0)
(51.1)
(31.7%)
90.1
(123.8)
72.2
(143.9)
Financial Expenses*
Total
172.8%
(*) Includes charges, income and foreign exchange hedges on CCB International and Commercial Paper.
11
150.2%
13. Net Debt
Debt
(BRLm)
3Q13
2012
1,239.5
2,521.0
Short-term Debt
377.7
1103.2
Long-term Debt
861.8
1,417.8
Cash*
600.0
309.6
Net Debt
639.5
2,211.4
Debt
-71.1%
(*) As from January 2013, the Company’s financial investments have been concentrated in exclusive
investment funds. These are made up of highly liquid investment fund units, readily convertible into
cash, irrespective of the maturity of the assets.
13
21. Principal Challenges for CTEEP in 2014
The rollover of the 059 agreement extended CTEEP’s concession for an
additional 30-year term. The initial conditions of the agreement are well
below the previous ones, with a reduction of 70% in Annual Allowed
Revenue
The recovery in growth capacity and CTEEP’s shareholder remuneration
is conditional on:
Receipt of fair
compensation
21
Increase
inoperating
efficiency
Increase of
returns from the
investments
22. Disclaimer
All statements contained herein with regard to the Company’s
business prospects, projected results and the potential growth
of its business aremere forecasts, based on local management
expectationsin relation to the Company’s future performance.
Dependent as they are on market shifts and on the overall
performance of the Brazilian economy and the sector
and international markets, such estimates
are subject to changes.
22
