2. Disclaimer
The statements contained in this report regarding the outlook on business,
estimations on financial and operational results and growth prospects for COMGÁS
are merely estimations and, as such, are based exclusively on management
expectations regarding future events and tendencies, that affect or may affect the
business. These estimations are subject to many risks and uncertainties and are
made considering the information currently available, and depend, substancially on
market conditions, the Brazilian economys performance, the business sector and
international markets, and are therefore subject to change without pior notice.
Because of these uncertainties, the investor should not make any investment
decisions based on these estimations and declarations on future operations.
4. 4
Highlights
1Q13
Total volume of 1,367mm³ during 1Q13, 15% above that of 1Q12;
Growth of 44% in investments compared to 1Q12, summing R$ 175mm in 1Q13;
EBITDA of R$ 314mm, variation of +43% compared to 1Q12, due to the regulatory current account;
Network extension of 300 km during the quarter, 15% above that of the same period in 2012;
Third issuance of the Company’s promissory notes in the value of R$ 400mm.
10. Investimentos
10
Investments
in million of R$
121
175
mar/12 mar/13
+44%
262
300
mar/12 mar/13
Network Extension (in thousands of km)
São João da Boa Vista
Hortolândia
Monte Mor
Capivari
Taubaté
Piracicaba
Osasco II
Rio Claro
Main Projects
+15%
11. 751
244 162 186 101 188
297
55
94 99 276 147
2013 2014 2015 2016 2017 2018
forward
Local Currency ForeignCurrency
Estrutura de Endividamento
299
256 285
377 335
1,048
Debt Structure
in thousands of R$
Debt Amortization Schedule (R$ mm) Debt Composition – Mar/13
*EBITDA considering the last 12 months
Short
Term
40%
Long
Term
60%
EIB
20%
BNDES
41%
Others
38%
Debt Mar 13 Mar 12
Short Term Debt 1,048,314 708,298
Long Term Debt 1,551,233 1,437,644
Total Debt 2,599,547 2,145,942
(-) Cash 327,504 104,341
(=) Net Debt 2,272,044 2,041,601
EBITDA 1,057,385 744,082
Net Debt / EBITDA 2.15 2.74
Short Term Debt / Total Debt 0.40 0.33