1COMPANHIA DE GÁS DE SÃO PAULOFinancial and Operational ResultsDecember 31st, 2012
DisclaimerThe statements contained in this report regarding the outlook on business,estimations on financial and operational results and growth prospects for COMGÁSare merely estimations and, as such, are based exclusively on managementexpectations regarding future events and tendencies, that affect or may affect thebusiness. These estimations are subject to many risks and uncertainties and aremade considering the information currently available, and depend, substancially onmarket conditions, the Brazilian economys performance, the business sector andinternational markets, and are therefore subject to change without pior notice.Because of these uncertainties, the investor should not make any investmentdecisions based on these estimations and declarations on future operations.
4Highlights Record volume: the total volume distributed was 5,259mm³, 8.8% above that of 2011; Record investments: R$ 616 million in 2012, in which R$ 189 million were invested during the 4Q2012; Record residential connections: 115 thousand new households connected during the year; Record network extension: 1,282 km of network built during the year; Record revenue: R$ 6,5bi of gross revenue and R$ 5,3bi of net sales during the year; Extraordinary tariff adjustment: because of the dollar volatility and consequent raise of gas cost, on 11/29ARSESP authorized new tariffs. Despite the adjustment, the account balance closed the year in R$ 381mm; Funding: on October 2nd, a long term funding contract was signed with BNDES, of the sum total of R$ 1.1billion; ARSESP’s approval: transfer of 60.1% of BG’s participation in Comgás to Provence Participações S.A.(company controlled by Cosan S.A. Indústria e Comércio); Incorporation: in December, Provence Participações S.A. was incorporated by Comgás, resulting in theamount of R$ 844mm recorded as a deferred tax.Year of 2012
Fornecimento de Gás Natural: CONTRATOS5Daily quantity contracted:approximately 14.3 millions of m³/day,besides auction contracts.Daily quantity demanded:approximately 12.9 millions of m³.ContractsNatural Gas SupplyContracts TCQ Firm Contract Firm of Energy AuctionContract Models Firm Firm Firm of Energy Firm of Short TermGas Source Bolivian Undetermined UndeterminedSurplus of PBs contracts with otherdistributors / thermal power plantsDQCEnd of Contract Jun/19 Dec/13 Dec/12 Sep/13Commodity +TransportationFixed Charge +Variable ChargeFixed Charge +Variable ChargeTransportation: annualreadjustment according to USAInflation: CPIFixed Charge: annual readjustmentby IGP-MFixed Charge: annual readjustmentby IGP-MCommodity: quarterly correctionbased on Oil Basket+ Exchange RateVariable Charge: quarterlycorrection based on Oil BasketVariable Charge: quarterlycorrection based on Oil BasketPrice8.10 MMm3/day for Aug/2012forward5.22 MMm3/day for Aug/2012forward1.0 MMm³/day according to bidsAccording to the bid made by theAuction Winner
EIB24%BNDES46%Others30%LongTerm61%ShortTerm39%638277135 170 114 1642875285 91 1841632013 2014 2015 2016 2017 2018forwardLocal Currency Foreign CurrencyEstrutura de Endividamento329220261298 327925Debt Structurein million of R$Debt Amortization Schedule (R$ mm) Debt Composition - 2012Debt 2012 2011 2012 x 2011Short Term Debt 925.305 421.104 120%Long Term Debt 1.435.120 1.452.956 -1%Total Debt 2.360.425 1.874.060 26%(-) Cash 169.725 41.110 313%(=) Net Debt 2.190.700 1.832.950 20%EBITDA 961.760 716.284 34%Net Debt / EBITDA 2,28 2,56 -11%Short Term Debt / Total Debt 0,39 0,22 74%
2.6 2.93.3 3.6 188.8.131.52 184.108.40.206.98.09.32000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012100229200230276474426397 403 406 4055106162000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012InvestimentosMain Projects:Network Extension (in thousand of km):Mogi das CruzesTaubatéOsasco IIGuarulhosSão José dos CamposItaqueraSão Bernardo do CampoRio ClaroJabaquara IIHortolândiaCampinas IIPiracicabaNew Projects:SJBV / AguaíTaboão da SerraSanto AndréSantos Noroeste1671municipalitiesconnectedInvestmentsin million of R$ +21%
17PAY OUT Previous AccountabilityPAY OUT IFRSShareholder Remunerationin million of R$Nota: Payout calculated based on remuneration deliberated by the Company during the period11 1627 25303330 334275 2684274502002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 201217% 15%26%10%95%77% 75%53%73%105%92%38%74%190%55%