Presentation 1Q13

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Presentation 1Q13

  1. 1. Your energyINSPIRES US11Q13 Results PresentationSão Paulo, May 16 2013
  2. 2. Your energyINSPIRES US2Capital Market Performance1Q13 ResultsCTEEP
  3. 3. Your energyINSPIRES US3CTEEP ProfileA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valor13,724 Km of transmission lines;19,189 Km of circuits;1,952 Km of optic fiber cables106 substations.Responsible for the annualtransmission of 30.0% of allelectricity produced in the country,60% of the energy consumed in theSoutheast Region and nearly 100%in the state of São Paulo;The largest private sector concessionaire operating a publicutility service for the transmission of energy in Brazil,controlled by ISA, one of the largest energy transmissiongroups in Latin America.
  4. 4. Your energyINSPIRES US4Expansion of national TerritoryA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valorLargest Non-stop TransmissionLines under construction in theworld (IEMadeira)Starting in the continuous currenttechnologyRelevant Interconnection Projectsin the North of BrazilMajor supporting Works in theSouth and Southeast of BrazilIn OperatingIn ConstructionEVRECY*Acquisition of Assets
  5. 5. Your energyINSPIRES US537.8%35.2%6.1%4.3%16.6%ISA Capital do BrasilEletrobrasState Government of São PauloVinci Ltda53.9%10.6%7.5%28.0%EletrobrasState Government of São PauloVinci LtdaOthers89.5%9.8%0.7%ISA Capital do Brasil Eletrobras OthersPreferred Shares– TRPL4(58% of the total)Ordinary Shares- TRPL3(42% of the total)Total Capital StockShareholder Breakdown - 1Q3
  6. 6. Your energyINSPIRES US6Capital Market Performance1Q13 ResultsCTEEP
  7. 7. Your energyINSPIRES US7Results - Company1Q12 1Q13Var %1Q12x1Q13Gross Operating Revenue 514.5 195.9 (61.9%)Revenue from Construction Services 38.3 24.5 (36.0%)Revenue from Operational and Maintenance Services 156.7 139.1 (11.2%)Financial Revenue 314.1 27.0 (91.4%)Others 5.3 5.3 (0.5%)Deductions from Operating Revenue (71.8) (29.6) (58.8%)Net operating revenue 442.6 166.3 (62.4%)Other General and Administrative Expenses (153.7) (153.3) (0.3%)Other Operating (Expenses) - Income - ex goodwill 0.6 14.5 2337.8%Equity 33.4 24.0 (28.0%)EBITDA 322.9 51.6 (84.0%)% Margem EBITDA 73.0% 31.0% -57.5%Depreciation (8.5) (9.3) 9.7%EBIT 314.5 42.3 (86.6%)Financial Results (51.3) 43.6 (184.9%)Lucro antes do IR & CSLL 263.1 85.9 (67.4%)IR & CSLL (58.0) (14.9) (74.4%)Net Income 205.1 71.0 (65.4%)Results(R$ million)Company
  8. 8. Your energyINSPIRES US8Results - Consolidated1Q12 1Q13Var %1Q12x1Q13Gross Operating Revenue 548.1 234.1 (57.3%)Revenue from Construction Services 61.3 46.5 (24.1%)Revenue from Operational and Maintenance Services 157.6 143.7 (8.8%)Financial Revenue 323.9 38.8 (88.0%)Others 5.3 5.1 (4.8%)Deductions from Operating Revenue (54.6) (33.2) (39.1%)Net operating revenue 493.5 200.8 (59.3%)Other General and Administrative Expenses (175.6) (179.2) 2.0%Other Operating (Expenses) - Income - ex goodwill 0.6 14.5 2338.1%Equity 11.5 20.8 0.0%EBITDA 330.0 56.9 (82.7%)% Margem EBITDA 66.9% 28.4% -57.6%Depreciation (8.5) (9.3) 9.7%EBIT 321.5 47.6 (85.2%)Financial Results (55.9) 39.0 (169.8%)Lucro antes do IR & CSLL 265.6 86.7 (67.4%)IR & CSLL (60.5) (15.7) (74.1%)Net Income 205.1 71.0 (65.4%)Results(R$ million)ConsolidatedConsolidation by equity (revision of CPC’s 19 and 32)
  9. 9. Your energyINSPIRES US9Gross Operating Revenue(R$ million)Company Consolidated38.3 24.5156.7139.1314.127.05.35.3514.5195.91Q12 1Q13Construction Operation and Maintenance Financial Others61.3 46.5157.6143.7323.938.85.35.1548.1234.11Q12 1Q13Construction Operation and Maintenance Financial Others
  10. 10. Your energyINSPIRES US10Costs and ExpensesA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valor1Q12 1Q13Var %1Q12x1Q131Q12 1Q13Var %1Q12x1Q13Personnel (59.0) (69.2) 17.3% (60.2) (71.0) 18.0%Material (25.6) (20.0) (21.6%) (38.7) (41.7) 7.8%Services (45.7) (43.0) (5.8%) (52.0) (45.1) (13.3%)Leases and rentals (3.5) (3.5) (1.3%) (3.6) (3.5) (1.9%)Contingencies (5.6) (7.4) 32.4% (5.6) (7.4) 32.4%Others (15.6) (12.0) (23.1%) (16.9) (12.3) (27.4%)Total (155.0) (155.1) 0.1% (176.9) (181.0) 2.3%ConsolidatedCost and Expenses(R$ 000)Company
  11. 11. Your energyINSPIRES US11Ebitda and Ebitda MarginA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valor(R$ million)1Q12 1Q13 1Q12 1Q13Net Income 205.1 71.0 205.1 71.0Income tax and social contribuition 58.0 14.9 60.5 15.7Financial Results 51.3 -43.6 55.9 -39.0Leases and rentals/Amortization 8.5 9.3 8.5 9.3EBITDA 322.9 51.6 330.0 56.9EBITDA Margin 73.0% 31.0% -41.9 p.p 66.9% 28.4% -38.5 p.pVar %1Q12x1Q13CompanyEBITDA - ICVM 527 Var %1Q12x1Q13Consolidated(65.4%)(74.4%)(184.9%)9.7%(84.0%)(65.4%)(74.1%)(169.8%)9.7%(82.7%)
  12. 12. Your energyINSPIRES US12Financial Result1Q12 1Q13Var %1Q12x1Q131Q12 1Q13Var %1Q12x1Q13Financial Income 44.8 93.4 108.5% 45.3 93.7 107.0%Financial Expenses (96.1) (49.8) (48.2%) (101.2) (54.6) (46.0%)(51.3) 43.6 184.9% (55.9) 39.0 169.8%Financial Result(R$million)Company Consolidated
  13. 13. Your energyINSPIRES US13Net IncomeA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valor(R$ million)205.171.01Q12 1Q13
  14. 14. Your energyINSPIRES US14DebtA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valorFUNDING CHARGES MATURITY 4Q12 1Q13BNDESTJLP + 2,3% ano 15/06/15 234,681 211,365TJLP + 1,8% ano 15/06/15 140,798 126,742Comercial Papers6ª Emissão - CTEEP 104,9% CDI ano 05/01/13 433,873 0Debêntures1ª Série - CTEEP CDI + 1,3% ano 15/12/14 325,959 332,3992ª Série - CTEEP IPCA + 8,1% ano 15/12/17 70,915 73,922Série Única - CTEEP 105,5% do CDI ano 02/07/14 726,476 738,892BanksUSD + 4% ano * 26/04/13 132,309 130,723USD + 2,1% ano ** 21/10/13 177,318 175,084Eletrobras 8% ano 15/11/21 340 327Arrendamento Mercantil - - 5,048 4,625TOTAL CTEEP: 2,247,717 1,794,079BNDESIEMG TJLP + 2,4% ano 15/04/23 52,513 51,253TJLP + 2,6% ano 15/05/26 47,758 46,8565,5% a.a 15/01/21 80,152 78,840TJLP + 1,9% ano 15/05/26 49,801 48,888TJLP + 1,5% ano 15/05/26 43,038 42,235TOTAL SUBSIDIARIES 273,262 268,072Total Consolidated (R$ mil) 2,520,979 2,062,151SERRA DO JAPICTEEPCTEEPPINHEIROS29.4%52.0%3.6%15.0%Distribuition of debt burdensTJLP CDI IPCA Others29.4%55.5%14.8%Distribuition ofdebt contractingBNDES Comercial Papers Debêntures Banks
  15. 15. Your energyINSPIRES US15Breakdown of Net Debt4Q12 1Q13 4Q12 1Q13Debt 2,247.7 1,794.1 2,521.0 2,062.2Short-term Debt 1,064.2 634.2 1,103.2 674.1Long-term Debt 1,183.5 1,159.9 1,417.8 1,388.1Cash* 296.5 1,376.7 309.6 1,389.2Net Debt 1,951.2 417.4 2,211.4 673.0EBITDA 12 months - - 1,370.5 1,097.4Net Debt/Ebitda (Last 12 months) - - 1.6 0.6Debt(R$million)Company Consolidated(*) As from January 2013, the Company’s financial investments have been concentrated in exclusiveinvestment funds. These are made up of highly liquid investment fund units, readily convertible intocash, irrespective of the maturity of the assets.
  16. 16. Your energyINSPIRES US16Debt Repayment(R$ million)596.91,068.793.7 17.8 17.8 0.830.027.924.224.2 24.2 136.0626.91,096.6117.942.0 42.0136.82013 2014 2015 2016 2017 After 2017Company Subsidiaries
  17. 17. Your energyINSPIRES US17Capital Market Performance1Q13 ResultsCTEEP
  18. 18. Your energyINSPIRES US18Capital MarketPresent on all trade days;Component of Ibovespa;R$ 6.2 billion market capitalization.70.00100.001-Jan 8-Jan 15-Jan 22-Jan 29-Jan 5-Feb 12-Feb 19-Feb 26-Feb 5-Mar 12-Mar 19-Mar 26-MarTRPL3 TRPL4 IBOVESPA IEE-3.62%-7.55%1.55%12.36%(12/31/2012 = 100)
  19. 19. Your energyINSPIRES US19Capital Market0.05.010.015.020.025.030.035.040.0Jan/13 Fev/13 Mar/13Trade Financial - 03/31/2013(R$ million)Total 473 R$ Million Daily Average / Day 8 R$ million-1,0002,0003,0004,000Jan-13 Feb-13 Mar-13Trade Volume - 03/31/2013(units)Total Trade: 63.463 Daily Average/ Day: 1.076
  20. 20. Your energyINSPIRES US20DisclaimerA estratégia da CTEEP é baseada no crescimento sustentávelcom foco na contínua criação de valorAll statements contained herein with regard to the Company’sbusiness prospects, projected results and the potential growthof its business aremere forecasts, based on local managementexpectationsin relation to the Company’s future performance.Dependent as they are on market shifts and on the overallperformance of the Brazilian economy and the sectorand international markets, such estimatesare subject to changes.
  21. 21. Your energyINSPIRES US21Investor RelationsPhone: 55 11 3138-7557ri@cteep.com.brwww.cteep.com.br/ri

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