1
1Q14 Results Presentation
São Paulo, May 16 2014
2
Agenda
Financial Results 1Q14
Capital Market Performance
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
C...
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
Com...
5
Costs of Construction Services, O&M and
Operating Expenses
Company Consolidado
-24.1%
*
* Includes contingencies, deprec...
6
Ebitda ICVM 527 and Ebitda Margin
(R$ million)
28.4%
46.9%
51.6
103.05.4
2.6
1Q13 1Q14
Company Subsidiaries
56.9
105.6
E...
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 IEGA...
8
43.6
14.1
-4.6 -4.2
9.9
Company Subsidiaries
39.0
9.9
1Q13 1Q14
Financial Result
-74.6%
(R$ million)
Lower interest inco...
9
71.0
85.5
1Q13 1Q14
Net Income
+20.4%
(R$ million)
10
Net Debt
(*) As from January 2013, the Company’s financial investments have been concentrated in exclusive
investment f...
11
Debt
Distribuition of contracting Interest Rate
1Q14
2013
1Q14
2013
40.2%
59.5%
0.3%
40.2%
53.4%
6.1%
0.3%
TJLP CDI IPC...
12
Debt amortization
(R$ million)
305.6
101.5
199.83 199.9
181.8
11.1
49.8
21.1
29.9
30.9
26.5 26.5
26.5
85.4
15.0
335.4
1...
13
Debt - Jointly Owned Companies
Madeira Garanhuns IENNE IESUL
CTEEP Participation
2013 1Q14
(R$ million)
1,245.1
101.2
5...
14
Agenda
Financial Results 1Q14
Capital Market Performance
15
Capital Market Performance
Total Trade: 87,5 mil
Daily Average/Day1,366
Market Value
03/31/2014 R$5,2billion
Share Perf...
16
Disclaimer
All statements contained herein with regard to the Company’s
business prospects, projected results and the p...
17
Investor Relations
Tel: +55 11 3138-7557
ri@cteep.com.br
www.cteep.com.br/ri
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Cteep presentation 1_q14.

  1. 1. 1 1Q14 Results Presentation São Paulo, May 16 2014
  2. 2. 2 Agenda Financial Results 1Q14 Capital Market Performance
  3. 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. 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. 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%
  6. 6. 6 Ebitda ICVM 527 and Ebitda Margin (R$ million) 28.4% 46.9% 51.6 103.05.4 2.6 1Q13 1Q14 Company Subsidiaries 56.9 105.6 Ebitda Margin
  7. 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
  8. 8. 8 43.6 14.1 -4.6 -4.2 9.9 Company Subsidiaries 39.0 9.9 1Q13 1Q14 Financial Result -74.6% (R$ million) Lower interest income on the NI
  9. 9. 9 71.0 85.5 1Q13 1Q14 Net Income +20.4% (R$ million)
  10. 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
  11. 11. 11 Debt Distribuition of contracting Interest Rate 1Q14 2013 1Q14 2013 40.2% 59.5% 0.3% 40.2% 53.4% 6.1% 0.3% TJLP CDI IPCA OthersBNDES Debentures Banks Others 43.2% 56.5% 0.2% 32.8% 50.7% 5.9% 10.6% Debt R$ 1,337.7 million
  12. 12. 12 Debt amortization (R$ million) 305.6 101.5 199.83 199.9 181.8 11.1 49.8 21.1 29.9 30.9 26.5 26.5 26.5 85.4 15.0 335.4 132.4 226.3 226.4 208.3 37.6 2014 2015 2016 2017 2018 2019 2020 a 2024 2025 a 2029 CTEEP Subsidiaries 135.2 Future Cash (NI) 2014 2015 Total Accounts Receivable (NI) - (projection) 427.1 332.2 759.3 Interest Income on the Accounts Receivable (projection) 46.2 12.0 58.2 Total 473.3 344.2 817.5 Cash and Financial Investments on 03/31/14: R$ 502.2 millions
  13. 13. 13 Debt - Jointly Owned Companies Madeira Garanhuns IENNE IESUL CTEEP Participation 2013 1Q14 (R$ million) 1,245.1 101.2 57.9 18.9 1,256.0 118.3 57.8 18.8 Debt: R$ 1,423.2 Debt: R$ 1.451,0
  14. 14. 14 Agenda Financial Results 1Q14 Capital Market Performance
  15. 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. 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.
  17. 17. 17 Investor Relations Tel: +55 11 3138-7557 ri@cteep.com.br www.cteep.com.br/ri

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