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Results presentation 4 q09 Results presentation 4 q09 Presentation Transcript

  • 111COMPANHIA DE GÁSDE SÃO PAULOFinancial Results- December 2008 -
  • 222Highlights: 2008 Volume sold 5.2 billion Cu.M. in 2008, up 3.6% when compared to 2007; Net Revenue of R$ 4.0 billion in 2008, an increase of 24.2% related to 2007; Net Income of R$ 514.0 million in 2008, 16.0% growth compared to 2007; EBITDA of R$ 1,035 billion in 2008, 11.9% growth compared 2007; R$ 275.4 million in dividends paid in 2008, related to 2007 results; Over 81.4 thousand residential units added in 12 months, reflecting the focus of the company in theexpansion of residential market; Annual CAPEX totaled R$ 403 million.
  • 333Contracts:Natural Gas Supply – Year 2008• DCQ: 0.6 MM Cu.M./day• Contract Expiration: May 2011 Commodity:Oil Basket (Brent)+ Exchange Rate Transport:USA Inflation (CPI) TCQ CONTRACT: Natural Gas coming from Bolivia• DCQ: 8.7 MM Cu.M./day• Contract Expiration: June 2019 BG CONTRACT: Natural Gas coming from BoliviaFIRM GSA “Novo Contrato Firme”• DCQ: 3.5 MM Cu.M./day• Contract Expiration : December 2012 70%Oil Basket (Brent) +Exchange Rate 30%Brazilian PPI (IGPM)FIRM ENERGY GSA “Contrato Firme Flexível”• DCQ: 1.0 MM Cu.M./day•Contract Expiration: December 2012PREFERENCIAL GSA “Contrato Interruptível”• DCQ: 0 to 1.5 MM Cu.M./day• Contract Expiration: December 2010PRICE: 70%Oil Basket (Brent) +Exchange Rate 30%Brazilian PPI (IGPM)FIRM
  • 444Comgás: Sales per SegmentIn Thousand Cu.M.* MMm3/day excluding thermal generation4Q08 3Q08 4Q07D4Q08/3Q08D4Q08/4Q072008 2007D2008/200735,999 38,334 31,755 -6.1% 13.4% Residential 135,944 120,742 12.6%25,429 26,087 25,484 -2.5% -0.2% Commercial 99,633 98,600 1.0%882,194 1,003,070 961,239 -12.1% -8.2% Industrial 3,855,030 3,960,145 -2.7%71,459 55,439 76,942 28.9% -7.1% Thermal generation 333,301 81,937 N.A.73,408 75,028 75,856 -2.2% -3.2% Cogeneration 304,403 225,875 34.8%124,356 127,288 150,367 -2.3% -17.3% NGV 524,725 582,066 -9.9%1,212,846 1,325,246 1,321,643 -8.5% -8.2% 5,253,036 5,069,365 3.6%12.4 13.8 13.5 MMm3/day* 13.4 13.7
  • 555Comgás: Meters per Segment* UDAs (Householders).Dec-08 Sep-08 Dec-07DDec08/Sep08DDec08/Dec07ResidentialNumber of UDAs *CommercialIndustrialThermal GenerationCogenerationNGV620,191 604,430 562,175 2.6% 10.3%765,103 745,144 683,692 2.7% 11.9%8,885 8,755 8,563 1.5% 3.8%1,004 1,011 989 -0.7% 1.5%2 2 2 0.0% 0.0%20 19 16 5.3% 25.0%401 403 384 -0.5% 4.4%630,503 614,620 572,129 2.6% 10.2%NGV401 403 384
  • 66678.1%73.4%2.4%2.6%1.9%1.9%11.5%10.0%4.5%5.8%1.6%6.3%0%10%20%30%40%50%60%70%80%90%100%2007 2008Thermal GenerationCogenerationNGVCommercialResidentialIndustrialVolumes per SegmentMM Cu.M.5,069 5,253+ 3.6%
  • 77774.0% 72.7%8.9% 8.9%4.1% 3.8%9.4%8.5%3.0% 4.0%0.6% 2.1%0%10%20%30%40%50%60%70%80%90%100%2007 2008Thermal GenerationCogenerationNGVCommercialResidentialIndustrialGross Revenue per SegmentR$ thousand+ 24.2%4,025,920 4,999,759
  • 88865.0% 64.8%19.4% 19.9%7.5% 7.1%5.7% 4.7%2.2% 2.8%0.3%0.7%0%10%20%30%40%50%60%70%80%90%100%2007 2008Thermal GenerationCogenerationNGVCommercialResidentialIndustrialMargin per SegmentR$ thousand1,223,359 1,415,535+ 15.7%
  • 999Comgás: Financial ResultsR$ thousand1,054,801 1,130,233 836,377 -6.7% 26.1% 3,989,074 3,211,912 24.2%(728,483) (727,908) (514,817) 0.1% 41.5% (2,622,738) (1,998,081) 31.3%326,318 402,325 321,560 -18.9% 1.5% 1,366,336 1,213,831 12.6%(135,915) (115,218) (117,348) 18.0% 15.8% (466,291) (397,639) 17.3%(35,400) (34,772) (30,223) 1.8% 17.1% (134,946) (109,125) 23,7%(34,874) (32,199) (38,502) 8.3% -9.4% (122,159) (134,120) -8.9%155,529 254,908 165,710 -39.0% -6.1% 777,886 682,072 14.0%(14,902) (16,816) (18,241) -11.4% -18.3% (61,285) (59,419) 3.1%225,803 321,879 234,435 -29.8% -3.7% 1,034,991 925,317 11.9%Net Sales RevenueCost of Goods Sold and/or Services RenderedGross IncomeSelling, General and Administrative ExpensesDepreciation and AmortizationFinancial ResultsOperating IncomeNet IncomeEBITDA2.3%-38.6%100,495167,550102,806 514,045 442,991 16.0%Non Operating Result23.7%4Q08 3Q08 4Q07 4Q08/3Q08 4Q08/4Q07 2008 2007 2008/2007DD D
  • 101010Comgás: Financial IndicatorsNote:(1) Results achieved during the period were annualized;4Q08 3Q08 4Q07 2008 20079.5 9.7 8.9 Equity per shares ($) 9.5 9.00.9 1.4 0.8 Earnings per shares ($) 4.3 3.7124.7% 109.0% 108.5% Net Debt/ Equity (%) 124.7% 108.5%0.8 0.8 0.7 Current Ratio (x) 0.8 0.730.9% 35.6% 38.4% Gross Margin (%) 34.3% 37.8%9.7% 14.8% 12.0% Net Margin (%) 12.9% 13.8%21.4% 28.5% 28.0% EBITDA Margin (%) 25.9% 28.8%10.2% 18.2% 12.8% Return on Assets (%) 12.8% 14.1%36.2% 57.4% 37.3% Return on Equity (%) 45.2% 41.2%4Q08 3Q08 4Q07 2008 20079.5 9.7 8.9 Equity per shares ($) 9.5 9.00.9 1.4 0.8 Earnings per shares ($) 4.3 3.7124.7% 109.0% 108.5% Net Debt/ Equity (%) 124.7% 108.5%0.8 0.8 0.7 Current Ratio (x) 0.8 0.730.9% 35.6% 38.4% Gross Margin (%) 34.3% 37.8%9.7% 14.8% 12.0% Net Margin (%) 12.9% 13.8%21.4% 28.5% 28.0% EBITDA Margin (%) 25.9% 28.8%10.2% 18.2% 12.8% Return on Assets (%) 12.8% 14.1%36.2% 57.4% 37.3% Return on Equity (%) 45.2% 41.2%4Q08 3Q08 4Q07 2008 20079.5 9.7 8.9 Equity per shares ($) 9.5 9.00.9 1.4 0.8 4.3 3.7126.5% 109.0% 108.5% Net Debt/ Equity (%) 126.5% 108.5%0.8 0.8 0.7 0.8 0.730.9% 35.6% 38.4% Gross Margin (%) 34.3% 37.8%9.7% 14.8% 12.0% 12.9% 13.8%21.4% 28.5% 28.0% EBITDA Margin (%) 25.9% 28.8%10.2% 18.2% 12.8% 12.8% 14.1%36.2% 57.4% 37.3% Return on Equity (%) 45.2% 41.2%
  • 111111R$ MM153(b)100(c)50(a)152(b)178(a)120(b)59.5(b)46(a)59.4(b)49(a)150(b)62.7(b)62.7(b)Dividends Paid(c) Intermediate dividends over retained earnings(b) Dividends referring to previous year(a) Interpolate dividends over the current year result10% 77%95%26%15%17% 75% PAYOUT53%
  • 121212Investments – 2000 to 2008Over R$ 2.7 billion invested in the periodNetwork Extension:Dec/07: 5,255 km’sDec/08: 5,704 km’sMain Projects:Campinas ProjectCastelo Branco ProjectSantos/ São Vicente ProjectCAPEXR$ MM
  • 131313Investor RelationsCompanhia de Gás de São Paulo – COMGÁSwww.comgas.com.br/en/investors/Roberto LageCFO and IRORenata OlivaInvestor RelationsRua Olimpíadas, nº 205, 10º andar - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil