1) The presentation summarizes the financial results of 1Q14, including a 17% growth in operating and maintenance revenue. Costs were reduced by 64.7% for materials and 14.6% for third party services. EBITDA increased by 82.4% and net income grew by 20.4%.
2) Net debt decreased by 30.7% due to an increase in cash position and reduction in debt. Future cash flows are projected to cover debt obligations until 2020.
3) The company's stock performance was negatively impacted, declining 5.38% against the broader market decline of 8.51% over the period from January to March 2014.
3. 3
46.5 40.7
143.7 168.1
38.8
38.25.1
5.3
1Q13 1Q14
Construction O&M Financial Others
234.1
252.3
Gross Operating Revenue
Company Consolidated(R$ million)
24.5
37.7
139.1
163.0
27.0
19.5
5.3
6.1
1Q13 1Q14
Construction O&M Financial Others
195.9
226.3
Growth of 17%in operating and maintenance revenue
+15.5% +7.8%
4. 4
Net Operating Revenue
(R$ million)
Reduction of 18.8% on the deductions from revenue
166.3
200.2
34.5
25.1
1Q13 1Q14
Company Subsidiaries
200.8
225.3
+12.2%
5. 5
Costs of Construction Services, O&M and
Operating Expenses
Company Consolidado
-24.1%
*
* Includes contingencies, depreciation and lease rentals
(R$ million)
-69.2
-56.6
-20.0
-10.3
-43.0
-36.9
-22.9
-24.8
1Q13 1Q14
Personnel Material Services Others
-155.1
-128.5
-71.0
-59.0
-41.7
-14.7
-45.1
-38.5
-23.2
-25.3
1Q13 1Q14
Personnel Material Services Others
-181.0
-137.4
**
Reduction of 64.7% in material and 14.6% in third party services
-17.2%
7. 7
Equity
(R$ million)
1Q13
1Q14
20.8
19.9
0.6 0.2 0.2
IEMAD IEGAR IENNE IESUL TOTAL
0.0
15.2
12.2
3.5 (0,6)
0.1
IEMAD IEGAR IENNE IESUL TOTAL
Startup of Lot D of IEMadeira and advancement in the works of
IEGaranhuns
10. 10
Net Debt
(*) 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.
Debt 1,337.7 1,239.5 7.9%
Short-term Debt 383.7 377.7 1.6%
Long-term Debt 954.0 861.8 10.7%
Cash* 502.2 600.0 -16.3%
Net Debt 835.5 639.5 30.7%
Debt
(BRLm)
1Q14 2013 Δ%
Funding BNDES of R $ 124.1 million
15. 15
Capital Market Performance
Total Trade: 87,5 mil
Daily Average/Day1,366
Market Value
03/31/2014 R$5,2billion
Share Performance until 03/31/2014
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
Jan-14 Feb-14 Mar-14
Trade Financial - 03/31/2014
(R$ million)
Total R$ 549 Million Daily Average / Day R$ 8.6 million
70.00
100.00
Jan-14 Feb-14 Mar-14
TRPL3 TRPL4 IBOVESPA IEE
-5.38%
-2.12%
-8.51%
3.86%
(base 12/31/2013 = 100)
16. 16
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.