This document contains a disclaimer and forward-looking statements regarding a company's presentation. It discusses the company's 2007 financial results including:
- Net income increased 11.6% and consolidated EBITDA reached R$1,123 million, a 4.6% growth. EBITDA growth excluding non-recurring items would have been 16.3%.
- Generation segment's EBITDA grew 62.1% to R$442 million contributing 38% of consolidated EBITDA.
- Commercialization grew 7.2% in volume and 25.7% in margin. Distribution grew 9.6% in net operating revenue but EBITDA declined 18.1% due to an extraordinary reduction in
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
2. Disclaimer
This presentation may include forward-looking statements of future events or results according to regulations
of the Brazilian and international securities and exchange commissions. These statements are based on
certain assumptions and analysis by the company that reflect its experience, the economic environment and
future market conditions and expected events, many of which are beyond the control of the company.
Important factors that may lead to significant differences between the actual results and the statements of
expectations about future events or results include the company’s business strategy, Brazilian and
international economic conditions, technology, financial strategy, public service industry developments,
hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans,
objectives, expectations and intentions, among others. Considering these factors, the actual results of the
company may be significantly different from those shown or implicit in the statement of expectations about
future events or results.
The information and opinions contained in this presentation should not be understood as a recommendation
to potential investors and no investment decision is to be based on the veracity, current events or
completeness of this information or these opinions. No advisors to the company or parties related to them or
their representatives shall have any responsibility for whatever losses that may result from the use or contents
of this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on
current expectations and projections about future events and trends that may affect the company’s business.
These statements include projections of economic growth and energy demand and supply, as well as
information about the competitive position, the regulatory environment, potential opportunities for growth
and other matters. Several factors may adversely affect the estimates and assumptions on which these
statements are based.
2
4. Highlights of 2007
█ Net income increases 11.6%
█ Consolidated EBITDA reaches R$ 1,123 MM in 2007, a growth of 4.6% yoy
█ EBITDA growth would be 16.3% if non-recurring items were eliminated
(negative impact of R$ 183.1 MM due to extraordinary reduction in Enersul’s RAB)
█ Generation segment’s EBITDA grows 62.1% reaching R$ 442 MM
█ Generation contributes with 38% of consolidated EBITDA
█ Commercialization grows 7.2% yoy in volume and 25.7% yoy in margin
█ Net operating revenue from Distribution grows 9.6%
█ In Distribution, manageable expenditures per MWh distributed grow 5.5%, increasing less
than inflation
█ Financial expenses decrease 22.5%
█ Company’s Board of Executive Officers restructured with the appointment of a new CEO
4
6. Generation’s performance was outstanding in 2007, driven by
the increase in capacity...
Volume of Produced Energy Volume Energy Sales
(GWh) (GWh)
+17.0%
+19.7%
4,704 5,568
3,929 4,758
-9.3%
+8.4%
1,494
N.A. 1,355 1,480
N.A.
1,366
4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007
█ Operation of Peixe Angical HPP and the 4th generating unit at Mascarenhas HPP
fully integrated throughout 2007
█ Startup of commercial operations at São João SHP
6
7. …which resulted in strong EBITDA growth
Net Revenue EBITDA
(R$ MM) (R$ MM)
+28.3%
+62.1%
583 442
454
+26.5% +47.4% 273
170 130
134 88
4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007
Net Income
(R$ MM)
+60.7%
206
128 █ EBITDA margin from generation
+72.5%
increases to 75.8% in 2007 from
63 60.1% in 2006
36
4Q06 4Q07 2006 2007
7
8. Installed capacity has almost doubled since 2005 and with
projects already underway, will almost triple in 2012
Installed capacity
(MW)
+39.2%
1,452
+102.1%
360
409
29 20*
50 25
452
2009 2009 2012
1,043 Estimated start-up of
commercial operation
1,043
516
2005 Peixe 4th turbine São João Current Santa Fé Pecém 2012
Angical HPP Mascarenhas SHP SHP Repowering TPP
Assured Energy
(average MW)
334 645 980
93.1% 51.9%
Projects concluded since IPO
Projects in progress
* Includes 2.3 MW from the upgrading of Suíça HPP, still awaiting Aneel ratification
8
10. In distribution, despite market growth...
Volume of Distributed Energy Energy Distributed by Customer Class
(GWh) (GWh)
+4.5%
+4.5%
23,948 25,029
25,029
23,948
1%
1%
13%
13%
+6.5% +6.5%
37% 37%
34% 34%
6,428 6,428
6,038 6,038
14% 13% 1% 2% 62% 62%
53% 53% 36% 36%
33% 34%
53% 53% 62% 62%
4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007
Bandeirante Escelsa Enersul End Customers Energy in Transit Other
10
11. ... financial performance was negatively impacted by the
reduction in Enersul’s RAB
Net Revenue EBITDA
(R$ MM) +9.6%
(R$ MM) -18.1%
3,916 829
3,573 679
18% 21%
-9.0% 21% -87.1% 2%
31%
31% 33% 37%
978 242
891
17% 31
20% 7%
31% 36% 29% 46% 61%
48% 51%
49% 57% 54%
4Q06 4Q07 2006 2007 4Q0654% 4Q07 2006 2007
Net Income
(R$ MM) -12.1%
332
292
-79.0% 15%
163 42%
15% 34 █ Reduction in 2007 EBITDA vs 2006
36%
43%
reflects a negative non-recurrent
49%
effect of R$ 183.1 MM with respect
4Q06 4Q07 2006 2007 to the impact of the reduction in
54% Enersul’s RAB
Bandeirante Escelsa Enersul
11
12. Manageable expenditures per MWh increased less than inflation
in the period, despite the increase in contingencies
Manageable Expenditures (R$ MM)
4Q06 4Q07 ∆% 2006 2007 ∆%
Personnel 65.9 70.2 6.4% 303.2 259.1 -14.5%
Material 7.9 10.5 32.4% 33.6 40.0 19.3%
Third Party Services 73.1 87.2 19.3% 265.2 311.2 17.3%
Provisions 14.6 24.0 64.4% 66.7 132.5 98.7%
Others 24.6 18.5 -24.9% 63.8 64.9 1.8%
Total 186.1 210.3 13.0% 732.4 807.7 10.3%
Distr. energy vol. (GWh) 22,394 23,061 3.0% 23,948 25,029 4.5%
R$ / MWh 8.31 9.12 9.7% 30.58 32.27 5.5%
IGPM 7.8% 7.8%
Provisions and Others Third Party Services
+ R$ 11.5 MM in PDD at subsidiary companies + R$ 14.3 MM in operating efficiency programs and
support activities
+ R$ 23.9 MM in civil, tax and labor contingencies
recognized by the discos + R$ 9.9 MM in conservation and repair of discos’
networks
+ R$ 3.4 MM in expenditures with collections, meter
reading, billing, disconnections and reconnections
12
14. Measures taken allowed losses to be kept under control, within
existing limits
Commercial Losses
Bandeirante Escelsa Enersul EDB
2.4 2.5 2.3 5.3 5.6 6.0 7.8 8.2 8.0
2.3 5.4 7.6
4.0 4.2 4.4 4.4
Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec
2007 2007 2007 2007
Total Losses
~ 745 thousand inspections undertaken and
13.0% 13.2% 13.5% 13.5%
300 thousand frauds detected in 2007
4.1% 4.2% 4.4% 4.4%
~ R$32.5 in recovered revenues
Efficacy of investments aimed at
8.9% 9.0% 9.1% 9.1%
combating losses is reflected primarily
in avoidance of increased fraud
Mar Jun Sep Dec
2007
14
15. And in April, we conclude the second cycle of periodic tariff
review
ENERSUL
2nd Tariff Review Cycle ESCELSA BANDEIRANTE
(preliminary)
Verified Revenue 1,356,583 2,146,463 925,262
Parcel A 814,707 1,402,476 512,844
Parcel B 452,202 567,473 379,984
Model Company 221,263 262,867 183,254
Delinquency 8,852 12,667 7,571
Remuneration 143,590 184,119 117,407
Regulatory Depreciation 78,497 107,820 71,752
Total Required Revenue 1,266,908 1,969,950 892,827
(-) Other Revenue 4,177 12,443 1,285
Net Required Revenue 1,262,730 1,957,506 891,542
Tariff Review (excl. fin. adjust.) -6.92% -8.80% -3.64%
Financial Adjustments 2007 4.76% -0.52% -12.29%
Financial Adjustments 2006 -7.46% -3.15% -3.00%
Post Fin. Adjust Tariff Review -9.62% -12.47% -18.93%
Gross RAB 1,842,657 2,354,144 1,704,327
Net RAB 952,457 1,221,292 778,778
15
17. In commercialization, the growth of volume combined with the
increase in margin...
Volume of Energy Commercialized Number of Customers
(GWh)
+50% 78
+7.2%
52
7,188
6,702
814
1,193
+8.6%
2006 2007
6,374
1,706 5,509
1,571
222 37 Commercialization Margin
1,349 1,669 2007 vs 2006
4Q06 4Q07 2006 2007
Energias do Brasil Group Companies
Other
25.7%
17
18. …resulted in growth of 37% in EBITDA, adjusted to exclude the
impact of provisions for Ampla’s receivables
Net Revenue Adjusted EBITDA
(R$ MM) (R$ MM)
+24.9%
+ 37.2% 59
618 47
+ 37.5% 12
495 43
+30.2%
8 11 47
8 40
3
153 3
118
40
8 3
-32
-32
4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007
Net Income
(R$ MM)
> 10x
34
7 9
-18
4Q06 4Q07 2006 2007
18
20. Reduction in Enersul’s RAB also had a significant impact on
consolidated results…
Net Revenue Adjusted EBITDA
(R$ MM) (R$ MM) +16.3%
+13.3% 1.340
1.152
4,513 1074 1123
3,985
-11.0%
-0.8%
1,074 1,123
384
342
1,085 1,076 290
156
290 156
4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007
Net Income
(R$ MM) +11.6%
440
394
-55.8%
█ The retroactive impact (2003-2007)
155 of the reduction in Enersul’s RAB of
68 R$183.1MM, was fully recognized in
4Q07 accounts
4Q06 4Q07 2006 2007
20
21. …offsetting the positive effect of the growth in the result for
generation
EBITDA 2007 vs. 2006
(R$ MM)
169 34 -14 -183
43 1,123
1,074
B
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21
22. Excluding non-recurring events, EBITDA posted growth of 16.3%
in 2007
2007 2006 Change
R$ R$ R$ %
Reported EBITDA 1,123.0 1,073.6 49.4 4.6%
Elimination of non-recurring effects Bandeirante
Enersul’s RAB Reduction – retroactive impact (2003 - 2007) 183.1 - 183.1
Provision for receivables due from Ampla - Enertrade 12.0 40.2 (28.2)
Delinquency from collection agent - Bandeirante 11.7 - 11.7
RTE Write-off - Bandeirante 9.9 - 9.9
Redundancy program - 51.6 (51.6)
Recognition of R&D – regulated by Aneel (Apr/2006) - 18.4 (18.4)
Fiscal contingencies - Bandeirante (ICMS - Santos e Salto) - 7.9 (7.9)
Reversion of CVA - Enersul - 6,3 (6.3)
Sectorial contribution - FNDCT (Nat. Fund for Scientific and Tech. Development) - 4,5 (4.5)
Tariff readjustment – Impact from deverticalization (Aug/2006) - (34.4) 34.4
RAB revision - Bandeirante (Resol. 226 of October 18, 2005) - (16.0) 16.0
Adjusted EBITDA 1,339.7 1,152.1 187.6 16.3%
22
23. Discos’ debt restructuring was important in reducing financial
expenses by 22.5%...
Financial Result (R$ MM)
4Q06 4Q07 ∆% 2006 2007 ∆%
Financial Income 117.3 41.1 -65.0% 321.0 234.3 -27.0%
Financial Expenses (313.9) (215.7) -31.3% (639.3) (495.6) -22.5%
Net Forex Result (14.5) (12.4) -14.2% (59.5) (42.4) -28.8%
Swap - net result (21.6) (15.5) -28.4% (110.7) (110.4) -0.3%
Foreign Exchange Rate Variation 7.1 3.0 -57.2% 51.2 68.0 32.7%
TOTAL (211.1) (187.0) -11.4% (377.8) (303.7) -19.6%
█ Other factors contributing to improvement in the financial result were
– Lower monetary restatement due to reduction in regulatory asset outstanding; and
– Lower expenses with interest on shareholders’ equity.
23
24. Extended debt maturity, which, together with low levels of
leverage, provides us with a higher investment capacity…
Net debt/EBITDA Debt Maturity Schedule
906.2
2,345 5
1,879 1,957 689.2
2,000 3.0 1,702 4
539.1 524.8
3 504.1
1,000 2 321.4
1.9 1.8 1.7 1
0 0
2004 2005 2006 2007
Cash and 2008 2009 2010 2011 Após
Net Debt/EBITDA Net Debt Cash Equiv. 2011
(Dec/07)
Net Debt Gross Debt Breakdown
(R$ MM) (Dec/07)
2,796
1% 6%
Short-Term Floating Rates
321 (689)
(149)
Long Term Basci
Long Term Interest Rate
2,474 38%
1,957 1,879 55% Dollar
Fixed Rates
Gross Debt (-) Cash and (-) Regulatory Net Debt Net Debt
Dec/07 Marketable Asset and Dec/07 Dec/06
Securities Liabilities *** Includes Selic, CDI, IGP-M and INPC
24
25. A substantial increase in CAPEX is envisaged for 2008, largely
allocated to generation projects
Capex Breakdown* Investments – Universalization
(R$ MM) 1,023 (R$ MM)
585
595 581
106 159 157
217
81
475 438
378
2006 2007 2008E
2006 2007 2008E
Generation Distribution
(*) Does not include Capex for Universalization Program
25
27. From 2004 to 2007, Energias do Brasil delivered an average annual EBITDA
growth of 20.0% and achieved a better balance in its asset portfolio by
growing in the generation segment
EBITDA EBITDA Breakdown
(R$ MM)
Adjusted CAGR 1,340 4%
+20.0% 5% 5%
1,074 1123 15%
913 38%
775
1,123 90% 58%
2004 2007
Generation Distribution Commercial.
2004 2005 2006 2007
440
27
29. Energias do Brasil is today a company that has made important
achievements ...
Today we are... .. with important achievements since the IPO
█ One of the largest listed companies in the
electricity sector Healthy growth of the business (+45%,
EBITDA since 2004)
█ A company focused on high standards of
Doubling of capacity with better
governance and sustainability balanced asset portfolio (generation
increasing from 5% of EBITDA in 2004 to
30% currently)
█ The 3rd largest commercialization company
Creation of the Shared Services Center
█ One of the leading discos with about a 3- platform and a reduction of 600 in the
million-customer base number os employees
Continuous productivity improvements in
█ A company well placed to leverage market distribution (MWh/employee and
opportunities customers/employee increased 25% and
27% respetively between 2004 and 2007)
– Experience and know-how along the entire
value chain Sharp increase in the commercialization
– Financial capacity business (+48% in volumes since 2004)
– Parent company has an expanding
international presence
29
31. In this context we have identified three focus areas for Energias
do Brasil to act on
1 2
Grow with profitability Margin optimization
(efficiency)
3 Restructuring of organizational model
for accelerating execution of the above
31
32. Energias do Brasil’s three focus areas
1 2
Grow with profitability Margin optimization
(efficiency)
3 Restructuring of organizational model
for accelerating execution of the above
32
33. We believe there are positive market conditions for energy
sector growth
Market context
█ Strong growth in the economy with high energy infrastructure needs
█ Tight supply situation in the power generation segment, with an unbalanced
energy matrix in relation to economic structure
█ High potential for development of renewable complementary energy sources
█ Complexity of environmental licensing
█ Insufficient development of platforms for the wholesale market limits growth of
commercialization business
█ Fragmentation of the Brazilian Electric Utilities industry
█ Brazil is a good investment platform in South America
33
34. We have established five growth platforms for Energias do Brasil
Main growth platforms
I Development of a solid asset base in traditional generation (HPP, gas TPP, ...)
II Development of renewable generation
III Expansion of the commercialization business
IV Potential consolidation deals in the sector
V Potential growth opportunities in South America
34
35. I. We currently have a portfolio of thermoelectric projects with a total
capacity of 2,080 MW
Main projects in our portfolio Capacity (MW)
█ Joint venture partnership in the Pecem
(720 MW) TPP with MPX (50% stake), and
720 360 1.080
an eventual participation in a further
360MW of capacity
█ Acquisition of the Resende (Rio de
Janeiro) gas-fired TPP with 500 MW of
500
capacity
█ Development of a proprietary project for
a gas-fired TPP in the north of the state of 500
Espírito Santo with 500 MW of capacity
35
36. I. In addition, the hydroelectric project portfolio amounts to a
capacity of more than 1,400 MW
Main projects in our portfolio Capacity (MW)
█ Partnership agreement with Cemig for
developing feasibiility studies for HPPs with
a total capacity of 1,034 MW (360 MW 1.034
with Cemig and 674 MW with Cemig,
Concremat and AG)
█ Partnership agreement with Eletronorte for
developing feasibility studies for HPPs with 235
a total capcity of 235 MW
█ Partnership agreement with Engevix for
developing feasibility studies for HPPs 170
with a total capacity of 170 MW
36
37. II. We currently have renewable generation projects in portfolio
in excess of the ~ 1,000 MW target
Main projects in our portfolio Capacity (MW)
█ 24 SHP projects totaling 538 MW of capacity
– 8 already filed with the regulator for licensing
– 8 to be filed for licensing by July 538
– 5 to be filed in the second half of 2008
– 3 to be filed in the first half of 2009
█ Partnership agreement with Cemig for developing 500 500
MW in wind farm capacity in the state of Minas Gerais
█ Biomass projects under analysis, with a total capacity of
350 MW
350
37
38. III. In the commercialization business, our aim is to grow in
volume and scope
Commercialization market share
█ To continue growing in volume,
leveraging on the distinctiveness of
Energias do Brasil in the
Company 2 commercialization business: one of the
Company 1
14 3 leading traders in the market with
Enertrade healthy growth
9
21
█ Growth in scope encompasses
attractive businesses associated with
commercialization: trading of carbon
credits, providing value-added services
56
█ Commercialization is a catalyst for
other Group businesses: delivering
Other energy to the deregulated market,
origination of new opportunities for
generation business
38
39. IV. We intend to be a player in the potential trend towards
industry consolidation
Distribution
• + 60 players
Transmission
• Top 3 – 32% of market
• + 8 players
• Top 3 – 54% of market
Commercialization
Generation • 48 players
• + 130 players • Top 3 – 44% of market
• Top 3 – 51% of market
~ 900 independent prod.
Source: Annual reports; Abradee; Abrage; ANEEL; ENBR team analysis
39
40. V. ENBR is the platform for edp’s growth in South America,
particularly in renewables
Annual growth in energy demand in the last 3 years (%)
Venezuela
Colombia
6,4%
Equador 4,3%
6,6%
Brazil
Peru 4,2%
5,6% Chile
6,0%
Argentina
5,4%
Fonte: EIU
40
41. Energias do Brasil’s three focus areas
1 2
Grow with profitability Margin optimization
(efficiency)
3 Restructuring of organizational model
for accelerating execution of the above
41
42. Margin optimization involves a series of drivers
Drivers Concrete measures
A Optimization of █ Selective policy of prioritizing investments based on the
capex criterion of maximizing value
█ Divestment of non-core assets, particularly real estate
Reduction in █ Preventive management of contingencies through
B
contingencies reformulation of processes related to litigation
█ Concrete measures for reducing labor, commercial and
civil litigation
C Regulatory █ Reinforce regulatory management team, now reporting
management directly to the CEO
█ Focus on an integrated management of the regulatory
agenda
42
43. In particular, Energias do Brasil intends to continue pursuing the
optimization of opex
Evolution of productivity indicators
2004 2006
GWh / employee 2005 2007
Specific measures
12.9
12.0
10.1
10.3 █ A new and disciplined, detailed
8.9
8.1
5.8
6.6 and thorough methodology for
4.3 4.4
3.4 3.6 cost control
Bandeirante Escelsa Enersul
█ Permanent evaluation for
Thousands of customers / employee adapting discos’ cost structure to
the model company
1.29 1.40
1.15
1.06 1.07 1.06
0.89 0.94 0.96
0.80 0.71 0.76
Bandeirante Escelsa Enersul
43
44. Energias do Brasil’s three focus operating areas
1 2
Grow with profitability Margin optimization
(efficiency)
3 Restructuring of organizational model
for accelerating execution of the above
44
45. The organizational structure has already been adapted to
address Energias do Brasil’s priorities
Main changes in organizational structure
Grow with profitability Margin optimization(efficiency)
█ Reinforcement of the business █ Unificacation of responsibility in
development group and the regulation area, now
centralization under a VP reporting directly to the CEO
specifically dedicated to growth █ Appointment of a VP especially
focused on cost control
█ Creation of Enernova as a █ Simplification of the
specific platform for renewable organizational structure, with
energy sources implementation of a
meritocracy with compensation
tied to performance
Appointment of an edp Group Board Director as
CEO, dedicated full time to Energias do Brasil
45
46. In short, we are committed to a focused plan of creating value
for the company
Growth with profitability
Margin optimization (efficiency)
Restructuring of Organizational Model
Our controlling shareholder – edp – believes and is committed over the
long-term to success and value creation in the Brazilian operation, which is
aligned with edp’s world vision
46
48. Board of Executive Officers
António Manuel Director and CEO of Energias do Brasil since January 8 2008. He graduated in engineering
Barreto Pita de from the Universidade Técnica de Lisboa and has worked in the electricity sector since 1977.
Abreu He is also a director of EDP, Electricidade de Portugal SA., chairman of the Board of Edinfor
Sistemas Informáticos SA, a director of the Board of Hidrocantábrico Energia. He is also
Chief Executive president of ELECPOR- Portuguese Association of Electricity Sector Companies, vice-president
Officer of the Portuguese Energy Association and a member of the Board of Directors of the Union of
the European Electricity Industry (Eurelectric).
Antonio José He joined Energias do Brasil in September 2000. He is a director and an effective member of
Sellare the Board of Dirctors of the companies, Bandeirante, Enertrade, Escelsa, Enersul, Enerpeixe,
EDP Lajeado and Energest. He is also an alternate on the Board of Directors of Investco.
Vice-President He graduated in business management from PUC-SP, having experience in financial
of Finance and institutions, with periods in the administrative and accounting areas, investment fund
Investor management, stock exchange operations as well as working in the areas of derivatives, risk
Relations management, treasury management and modeling of financial products
Vice-president since January 2003. He sits on the boards of directors of Bandeirante, Escelsa and
Carlos Alberto Enersul and is alternate chairman on the Board of Directors of Enerpeixe. He was CEO of
Silva de Almeida Enertrade, commercial director of Bandeirante and administrative and commercial systems
Loureiro director of EDP- Distribution.
He graduated in electro-technological engineering from the Universidade do Porto, and in
Vice-President of
business management (Pade) from Aese (Escloa de Direção de Negócios). He has held various
Generation
functions in the Order of Engineers of Portugal and in Eurel (European Electrical Engineers
Associations Convention) where he was president.
48
49. Board of Executive Officers
João José With a long career in the EDP Group, where he has worked since 1979, he has held positions in
Gomes de the management of various of the holding company’s subsidiaries, among them CPPE
Aguiar (Companhia Portuguesa de Produção de Electricidade) and EDP Distribuição, where he
worked in the vice-presidency.
Vice-President He was a member of the Board of Directors of Labelec, the company in the EDP Group
of Distribution specialized in quality control of equipment and systems for electricity production, transmission
and distribution.
A graduate in mechanical engineering from Isel (Instituto Superior de Engenharia de Lisboa) with
Miguel Dias extensive experience in Portugal, prior to his present post, he was director of Corporate Internal
Amaro Auditing of Portugal Telecom (PT), a position he held from October 2003 to December 2007.
Before moving to PT, where he was also an assistant to the CEO, he worked as a financial analyst
Vice-President of for the telecommunications sector in Espírito Santo B&M in Madrid from 2000 to 2002 and as an
Management assistant in the SETF (State Finance and Treasury Department) at the Portuguese Ministry of
Control Finance between November 1999 and September 2000.
He began his career as a consultant at McKinsey & Co and has been involved with the energy
industry since 1998. He joined the EDP Group in 2006. He was a director on the Board of EDP
Miguel Nuno
Comercial, EDP Inovação, Portgás and Fundação EDP.
Simões Nunes
He graduated in Physical Engineering and took a Master’s degree in Electro-technological and
Ferreira Setas
Computer Engineering from the Instituto Superior Técnico in Lisbon. In 1996, he obtained an MBA
Vice-President of from the Universidade Nova de Lisboa.
Commercialization He was Strategic Marketing Director at the Galp Energia Group and a member of the Board of
Directors of Lisboagás. He was also Administration Director of CP - Comboios de Portugal and
chairman of CP Lisboa.
49