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Corporate Profile
CPFL Energia is a holding company that, through its subsidiaries,                After the (IPO) in September 2004, CPFL Energia became the first
distributes, commercializes and generates energy in Brazil,                      private Brazilian company to simultaneously trade on the São Paulo
standing as the largest private group in the Brazilian electric                  Stock Exchange (Bovespa Novo Mercado) and on the NYSE as Level
sector. Its subsidiaries are widely recognized for its excellence and            III ADR, both requiring the highest levels of Corporate Governance
the sustainability of their business practices and are regarded as               practices.
benchmarks in management, quality and operating efficiency.



Corporate Structure

                                                                                                                                      Free Float
                      25.7%                      31.1%                                         12.7%                                   30.5%




                                                                        99.95%

                                                                                                                            25.01%
             99.99%
                                                                                                                            48.72%
             96.56%

             90.15%                                      89.81%


             87.80%                                                                                             90.15%

             89.75%                                                                                                          59,93%    Paulista
                                                                                                                                       Lageado

                                                                                                                                         5,91%     Investco




1
    Includes Camargo Correa S.A. stake
Service Territory




Dividends                                         Dividends and Dividend Yield
                                                      Declared Dividend¹                       Dividend Yield²
CPFL Energia has announced an intermediate            (R$ million)                             (last 12 months)
dividend distribution, for 1H09, in the amount
of R$ 572 million, equivalent to R$ 1.191201324
                                                                                                   9.6%       10.9%       9.7%
per share and corresponding to 100% of net                                  9.1%        8.7%
                                                                6.5%                                                                 7.6%        7.3%       7.6%
income for the period.                                 3.7%                                                    842
                                                                                                    722                    719
                                                                                        612                                           602        606        572
                                                                            498
                                                                 401
The 1H09 dividend yield, calculated on the
                                                        140
average share price in the period (R$ 31.55)
is 7.6% (last 12 months). The shares were
                                                      2H04      1H05       2H05        1H06        2H06       1H07        2H07       1H08       2H08       1H09
considered ex-dividends on August 18, 2009.
                                                      16.58     18.85       23.33      30.05       28.25       31.74      35.99      36.11      33.38      31.55
                                                      CPFL Price ($/ON) - Average

                                                  Since the IPO (2H04), CPFL Energia’s dividend yield has already reached 71,03%3
                                                  Payment in the next half year | 2Considering last two half-year’s dividends yield | 3IPO price per share: R$ 17.22
                                                  1
Fact Sheet 2Q09 | CPFL Energia



      Value Creation Agenda                                                                            Goals                  Strategies
                                                                                                                              Operational Efficiency
      CPFL Energia’s success is supported by clearly defined                                           Value                  Synergic Growth
      business strategies and by management excellence                                                 Liquidity              Financial Discipline
      criteria directed to the sustained growth of its                                                 Security               Sustainability and Corporate Responsibility
      businesses.                                                                                                             Differentiated Corporate Governance




Market
Total Energy Sales – GWh1
                                                                                                      Sales by Customer Class2 – 2Q09
                          4.4%
           11,313                       11,811
                                                                                                                                                       32.4% Residential

           9,121                        9,263                                                                                                          18.9% Commercial
                                                                 Captive Market                                                                        18.9% Others
           2,192                        2,548                    Free Market
                                                                                                                                                       29.8% Industrial
           2Q08                         2Q09

1
    Excluding transactions between group’s companies (consolidation accouting criteria), CCEE and generation sales (except to the free market) | 2 Captive Market



Financial Performance
       Net Revenue (R$ million)                                                     Ebitda (R$ million)                                  Net Income (R$ million)

                                   15.0%
                                                                                              -3.7%                                                       -11.5%
                                                  2,657
                                                                                    718                                                         327
                    2,310                                                                                 691                                                       289




                   2Q08                           2Q09                              2Q08                 2Q09                                2Q08                  2Q09
       Note: Numbers already incorporate the impacts of Law 11,638/07 and PM 449/08



Adjusted Net Debt/EBITIDA3 (R$ billion)                                                                            Debt breakdown - 2Q09


           Adjusted Net Debt                                     Net Debt /EBITDA
                                                                                                                    51.4% CDI
                                                                                                                                                                   57.0% CDI
    6.28                                                                    5.65     6.05
                                                                  5.09
                   4.39                                   4.42
                                 3.78      3.70                                                                     29.7% TJLP                                     31.3% TJLP
                                                                                            1.92: excluding
    4.92
                                                                                            Foz do Chapecó
                2.85             2.25                                                          HPP debt
                                                                                     2.17
                                           1.74           1.57    1.53
                                                                            2.01                                    15.3% IGP                                      10.2% IGP
    2002       2003              2004      2005           2006    2007      2008     2Q09                           3.6% Dollar     *
                                                                                                                                                                   1.5% Dollar*

                                                                                                                                         2Q08               2Q09
3
    Last 12 monts EBITDA.                                                                                           *
                                                                                                                        Hedge Natural.
Fact Sheet 2Q09 | CPFL Energia




Corporate Governance                                                                 Sustainability and
                                                                                     Corporate Responsibility
CPFL Energia adopts differentiated practices of Corporate                            CPFL Energia believes that the pursuit of sustainability is a process
Governance, based on the principles of transparency, fair                            that demands the constant and innovative management of economic,
ness, accountability and corporate responsibility.                                   environmental and social impacts together with the maintenance of
                                                                                     ethical and transparent relationships with all its stakeholders.
      Shares are listed on Bovespa’s Novo Mercado and ADS’s                          The company has a management model structured on a diversity of
      Level III on the New York Stock Exchange                                       programs classified in the following groups:
      100% of Common Shares with 100% of Tag Along
      Free Float of 30.5%                                                                               Environmental education for the communities
      Subsidiary Companies’ Bylaws aligned to CPFL Energia Bylaws                    Environment        Conservation of biodiversity
      Financial Statements in compliance with US GAAP and BR                                            Conscientious corporate consumption.
      GAAP standards                                                                                    New Clean Development Mechanism
      Report in consensus with Global Reporting Initia tive - GRI                                       Technologies and Projects (MDL)
      Board of Directors consists of seven members, one being
                                                                                     Community          CPFL Program of Volunteerism
      independent
                                                                                                        Municipal Council Support Program for the
      3 Board Advisory Committees to the Board of Directors                                             Rights of Children and Adolescents (CMDCA)
      Board of Directors and Fiscal Council self-evaluation                                             The CPFL Program for the Revitalization of
      Review of Ethics and Corporate Conduct based on recom                                             Philanthropic Hospitals
      mendations in the Sarbanes-Oxley Act
      CPFL complies with section 404 of the Sarbanes-Oxley Act                       Internal           Program of Reflection and Ethical Management
                                                                                     Personnel          Respect for Diversity Program

                                                                                                        Value Network
                                                                                     Value Chain
                                                                                                        The Tear Program

                                                                                     Knowledge          CPFL Culture
                                                                                     Management         Communications for Sustainability




Shares’ Information1
08/31/2009
                                            CPFE3 (R$)     CPL (US$)           Ownership breakdown
    Shares Price                                 31.83         48.44
    Maximum – 52 weeks                           39.41         74.40                                                    69.5% Controlling block
    Minimum – 52 weeks                           26.83         35.27
                                                                                                                        30.5% Free-float
    Market Cap                           R$ 15.2 Billion
                                         US$ 7.8 Billion

    Market Cap                             479,910,938
    Exchange Rate 2                        R$/US$ 1.95
1
    Without income adjustments | 2Dollar Ptax




Investor Relations
CPFL Energia – Rodovia Campinas Mogi-Mirim, km 2,5 | Zip Code 13088.900 | Campinas | SP
Phone: 55 19 3756-6083 | Fax.: 55 19 3756-6089 | www.cpfl .com.br/ir | ri@cpfl.com.br

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Corporate Presentation - CPFL Energia
Corporate Presentation - CPFL EnergiaCorporate Presentation - CPFL Energia
Corporate Presentation - CPFL Energia
 
Apresentação Institucional - CPFL Energia
Apresentação Institucional - CPFL EnergiaApresentação Institucional - CPFL Energia
Apresentação Institucional - CPFL Energia
 

Fact Sheet 2Q09

  • 1. Corporate Profile CPFL Energia is a holding company that, through its subsidiaries, After the (IPO) in September 2004, CPFL Energia became the first distributes, commercializes and generates energy in Brazil, private Brazilian company to simultaneously trade on the São Paulo standing as the largest private group in the Brazilian electric Stock Exchange (Bovespa Novo Mercado) and on the NYSE as Level sector. Its subsidiaries are widely recognized for its excellence and III ADR, both requiring the highest levels of Corporate Governance the sustainability of their business practices and are regarded as practices. benchmarks in management, quality and operating efficiency. Corporate Structure Free Float 25.7% 31.1% 12.7% 30.5% 99.95% 25.01% 99.99% 48.72% 96.56% 90.15% 89.81% 87.80% 90.15% 89.75% 59,93% Paulista Lageado 5,91% Investco 1 Includes Camargo Correa S.A. stake
  • 2. Service Territory Dividends Dividends and Dividend Yield Declared Dividend¹ Dividend Yield² CPFL Energia has announced an intermediate (R$ million) (last 12 months) dividend distribution, for 1H09, in the amount of R$ 572 million, equivalent to R$ 1.191201324 9.6% 10.9% 9.7% per share and corresponding to 100% of net 9.1% 8.7% 6.5% 7.6% 7.3% 7.6% income for the period. 3.7% 842 722 719 612 602 606 572 498 401 The 1H09 dividend yield, calculated on the 140 average share price in the period (R$ 31.55) is 7.6% (last 12 months). The shares were 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 considered ex-dividends on August 18, 2009. 16.58 18.85 23.33 30.05 28.25 31.74 35.99 36.11 33.38 31.55 CPFL Price ($/ON) - Average Since the IPO (2H04), CPFL Energia’s dividend yield has already reached 71,03%3 Payment in the next half year | 2Considering last two half-year’s dividends yield | 3IPO price per share: R$ 17.22 1
  • 3. Fact Sheet 2Q09 | CPFL Energia Value Creation Agenda Goals Strategies Operational Efficiency CPFL Energia’s success is supported by clearly defined Value Synergic Growth business strategies and by management excellence Liquidity Financial Discipline criteria directed to the sustained growth of its Security Sustainability and Corporate Responsibility businesses. Differentiated Corporate Governance Market Total Energy Sales – GWh1 Sales by Customer Class2 – 2Q09 4.4% 11,313 11,811 32.4% Residential 9,121 9,263 18.9% Commercial Captive Market 18.9% Others 2,192 2,548 Free Market 29.8% Industrial 2Q08 2Q09 1 Excluding transactions between group’s companies (consolidation accouting criteria), CCEE and generation sales (except to the free market) | 2 Captive Market Financial Performance Net Revenue (R$ million) Ebitda (R$ million) Net Income (R$ million) 15.0% -3.7% -11.5% 2,657 718 327 2,310 691 289 2Q08 2Q09 2Q08 2Q09 2Q08 2Q09 Note: Numbers already incorporate the impacts of Law 11,638/07 and PM 449/08 Adjusted Net Debt/EBITIDA3 (R$ billion) Debt breakdown - 2Q09 Adjusted Net Debt Net Debt /EBITDA 51.4% CDI 57.0% CDI 6.28 5.65 6.05 5.09 4.39 4.42 3.78 3.70 29.7% TJLP 31.3% TJLP 1.92: excluding 4.92 Foz do Chapecó 2.85 2.25 HPP debt 2.17 1.74 1.57 1.53 2.01 15.3% IGP 10.2% IGP 2002 2003 2004 2005 2006 2007 2008 2Q09 3.6% Dollar * 1.5% Dollar* 2Q08 2Q09 3 Last 12 monts EBITDA. * Hedge Natural.
  • 4. Fact Sheet 2Q09 | CPFL Energia Corporate Governance Sustainability and Corporate Responsibility CPFL Energia adopts differentiated practices of Corporate CPFL Energia believes that the pursuit of sustainability is a process Governance, based on the principles of transparency, fair that demands the constant and innovative management of economic, ness, accountability and corporate responsibility. environmental and social impacts together with the maintenance of ethical and transparent relationships with all its stakeholders. Shares are listed on Bovespa’s Novo Mercado and ADS’s The company has a management model structured on a diversity of Level III on the New York Stock Exchange programs classified in the following groups: 100% of Common Shares with 100% of Tag Along Free Float of 30.5% Environmental education for the communities Subsidiary Companies’ Bylaws aligned to CPFL Energia Bylaws Environment Conservation of biodiversity Financial Statements in compliance with US GAAP and BR Conscientious corporate consumption. GAAP standards New Clean Development Mechanism Report in consensus with Global Reporting Initia tive - GRI Technologies and Projects (MDL) Board of Directors consists of seven members, one being Community CPFL Program of Volunteerism independent Municipal Council Support Program for the 3 Board Advisory Committees to the Board of Directors Rights of Children and Adolescents (CMDCA) Board of Directors and Fiscal Council self-evaluation The CPFL Program for the Revitalization of Review of Ethics and Corporate Conduct based on recom Philanthropic Hospitals mendations in the Sarbanes-Oxley Act CPFL complies with section 404 of the Sarbanes-Oxley Act Internal Program of Reflection and Ethical Management Personnel Respect for Diversity Program Value Network Value Chain The Tear Program Knowledge CPFL Culture Management Communications for Sustainability Shares’ Information1 08/31/2009 CPFE3 (R$) CPL (US$) Ownership breakdown Shares Price 31.83 48.44 Maximum – 52 weeks 39.41 74.40 69.5% Controlling block Minimum – 52 weeks 26.83 35.27 30.5% Free-float Market Cap R$ 15.2 Billion US$ 7.8 Billion Market Cap 479,910,938 Exchange Rate 2 R$/US$ 1.95 1 Without income adjustments | 2Dollar Ptax Investor Relations CPFL Energia – Rodovia Campinas Mogi-Mirim, km 2,5 | Zip Code 13088.900 | Campinas | SP Phone: 55 19 3756-6083 | Fax.: 55 19 3756-6089 | www.cpfl .com.br/ir | ri@cpfl.com.br