Results presentation 1 q11

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Results presentation 1 q11

  1. 1. ResultsPresentation1Q11COMPANHIA DE GÁS DE SÃO PAULO
  2. 2. Customer connection 1,000,000;More than 24,000 housing units added in the last quarter, reflecting the Companysfocus on maintaining the expansion of the residential market;The number of meters grew 11.4% in 12 months, reaching the milestone of 783,145 inMarch 2011;Schedule of Investments totaled R $ 106 million in the first quarter of 2011, 36% morethan the same period last year;On 12 Feb/10 ratings agency Moodys has ratified the Baa3 issuer in local currency on aglobal scale issuer rating and Aa1.br national scale to Comgás;Highlights: March 2011
  3. 3. Firm GSA: Comgás buys natural gas from Petrobras and distributes to existing markets receiving its distribution margin, the Natural Gascouldn’t be interrupted;Firm Flexible Agreement: under this type of agreement, Petrobras supplies natural gas or indemnifies clients for the additional costsincurred due to the consumption of an alternative fuel, Gas supply may be interrupted at the discretion of Petrobras, but with no riskof supply cuts for Comgás consumers, Petrobras will also bear the cost of the financial impacts incurred by Comgás and the clients inquestion;Natural Gas SupplyCONTRACTS
  4. 4. * Excluindo TermogeraçãoVolume per Segment1Q11 4Q10 1Q10∆1Q11/4Q10∆1Q11/1Q1032,940 42,956 30,845 RESIDENTIAL -23.32% 6.79%24,449 26,679 22,854 COMMERCIAL -8.36% 6.98%942,503 907,780 896,287 INDUSTRIAL 3.82% 5.16%38,318 138,897 16,397 THERMAL GENERATION -72.41% 133.69%91,892 93,870 70,808 COGENERATION -2.11% 29.78%66,642 77,051 81,750 NGV -13.51% -18.48%1,196,744 1,287,234 1,118,941 -7.03% 6.95%12.9 12.5 12.3 Mi m³/day* 3.12% 5.07%*ExcludingThermalGeneration
  5. 5. * UDAs (Unidade Domiciliar Autônoma).Meters per Segmentmar/11 dec/10 mar/10∆mar11/dec10∆mar11/mar10771.904 756.080 701.007 RESIDENTIAL 2,09% 10,11%1.002.252 977.750 885.194 UDAs* 2,51% 13,22%9.859 9.760 9.267 COMMERCIAL 1,01% 6,39%989 982 970 INDUSTRIAL 0,71% 1,96%2 2 2 THERMAL GENERATION 0,00% 0,00%23 23 19 COGENERATION 0,00% 21,05%368 367 377 NGV 0,27% -2,39%783.145 767.214 703.084 2,08% 11,39%* UDAs (Householders)
  6. 6. 1Q10 1Q111,119 1,197+6.95%Volume per SegmentIn R$ Thousand
  7. 7. 1T10 1T111,124 1,077-4.2%Gross Revenue per SegmentIn R$ Thousand
  8. 8. 1Q09 1Q10316 278-12,07%Margin per SegmentIn R$ Thousand
  9. 9. 1Q11 4Q10 1Q10∆1Q11/4Q10∆1Q11/1Q10925,345 1,050,216 940,057 Net Sales Revenue -11.89% -1.57%-643,925 -677,148 -622,478Cost of Goods Sold and/ or ServicesRendered-4.91% 3.45%281,420 373,068 317,579 GROSS RESULT -24.57% -11.39%-88,424 -102,752 -68,243 Selling General and Adm. Expenses -13.94% 29.57%192,996 270,316 249,336 EBTIDA -28.60% -22.60%-57,542 -53,976 -50,951 Depreciation and Amortization 6.61% 12.94%-31,677 -33,900 -33,133 Financial Results -6.56% -4.39%-616 -1,483 1 Other operating Result -58.46% -61700.00%103,161 180,957 165,253 OPERATING RESULT -42.99% -37.57%68,244 127,322 112,333 NET INCOME -46.40% -39.25%According to the last accountability legislation(unauditaed figures)32,150 -72,211 -16,973 Current Account -144.52% -289.42%230,311 202,628 230,911 EBTIDA 13.66% -0.26%90,403 80,281 102,391 NET INCOME 12.61% -11.71%In R$ ThousandFinancial Results
  10. 10. Note:Results achieved for theperiod were annualized.Financial Indicators1Q11 4Q10 1Q10Equity per Share ($) 12.1 11.5 11.6Earnings per Share ($) 0.6 1.1 0.9Net Debt per Equity (x) 1.0 1.0 1.0Net Debt per EBITDA (x) 1.2 1.1 1.1Current Ratio (x) 0.7 0.7 0.7Gross Margin (%) 30.4% 35.5% 33.8%Net Margin (%) 7.4% 12.1% 11.9%EBITDA Margin (%) 20.9% 25.7% 26.5%Return on Assets (%) 7.1% 13.2% 12.1%Return on Equity (%) 18.9% 37.0% 32.3%According to the last accountability legislation (unauditaed figures)Gross Margin (%) 37.3% 31.8% 33.7%Net Margin (%) 10.6% 8.4% 11.5%EBITDA Margin (%) 27.0% 21.1% 26.0%
  11. 11. 24% 25%76% 75%0%10%20%30%40%50%60%70%80%dec/10 mar/11Short Term Long TermBNDESOutros37%1,4581,4531,4191,352 1,3601,3081,4121.07 1.10 1.10 1.101.251.021.080.970.951.011Q10 2Q10 3Q10 4Q10 1Q11Net Debt Net Debt / EBITDA Net Debt / EquityIn R$ millionIn R$ millionIndebtedness CompositionBNDES76%Others11%EIB13%LongtermDebts-AgingIndebtedness Structure295252 251 23371107648 623311162011 2012 2013 2014 2015 2016 andbeyondIn Foreign Currency In Nacional Currency
  12. 12. D = 111Balance of Gas bill receivables: Cash EffectD = 102D = 73D = 61D = 204D = 17InMillionsofR$D = 123D = 68D = 32Regulatory Current Account Balance Evolutiondec-08 mar-09 jun-09 sep-09 dec-09 mar-10 jun-10 sep-10 dec-10 mar-11
  13. 13. Total Shareholder Remuneration11 16 27 25303330 334275 2684272001 2002 2003 2004 2005 2006 2007 2008 2009 2010In R$ million2010 YEARDividends:R$ 28.1 million related to 2009 results, paid on May 31, 2010;R$ 286.9 million related to the retained earnings of the previous years, paid in 3 installments in 2010: R$ 76.9 million on June 30th; R$ 110.0million on August 31; and R$ 100.0 million paid on November 30,R$ 50 million related to 2009 retained earnings, paid on December 17, 2010,Interest on Equity:R$ 34.4 million from 2010 results, paid on July 30, 2010;R$ 9.5 million from 2010 results, paid on September 30, 2010;R$ 9.5 million from 2010 results, paid on November 30, 2010;R$ 8.9 million from 2010 results, paid on January 31, 2011,17% 15%26%10%95%77% 75%53%73% 74%---- PAYOUT
  14. 14. OBS: UDA’ s ADICIONADAS (em 12 meses): 117.058In Millions of R$NETWORK EXTENSION (in thousands):Dez/10: 6.900 KmMar/11: 7066 KmD: 166 Km*Note: From 2009 amounts accounted on IFRS1Q10TaubatéCampinasAmericanaGuarulhosSantosJundiaíSanto AndréPiracicabaHortolândiaMain Projects: New Projects:InvestmentsOver R$ 3.6 billion invested in the period
  15. 15. The forward-looking statements in this reportrelated to the outlook for the business, estimatedfinancial and operating results and growth prospectsof COMGAS are merely projections and, as such, arebased exclusively on management expectationsregarding future performance. These expectationsdepend substantially on market conditions and theperformance of the Brazilian economy, the businesssector and the international markets, and aretherefore subject to change without prior notice.
  16. 16. Investor Relationsinvestidores@comgas.com.brwww.comgas.com.br/en/investorsROBERTO LAGECFO andIROPAULO POLEZITreasury andInvestor RelationsRENATA OLIVAInvestor RelationsALEXANDRE PALHARESInvestor RelationsRua Olimpíadas nº 205 10º floor – Vila Olímpia – CEP 04551-000 / São Paulo – SP -Brazil

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