The document provides an overview of AES Brasil Group, a company present in Brazil since 1997 comprised of four companies in the energy generation and distribution sectors. It details AES Brasil's investments, governance practices, recognition awards, dividend policies, shareholding structure, financial performance compared to other Brazilian energy companies, and position as one of the largest private energy generators and distributors in Brazil.
AES Brasil is a large energy company operating in Brazil since 1997. It is comprised of four companies involved in energy generation and distribution, with over 7,000 employees. From 1998-2011, AES Brasil invested $8.1 billion in Brazil. It has strong corporate governance and sustainability practices. AES Brasil has a large market share in both electricity generation and distribution in Brazil.
1) AES Brasil Group is comprised of four companies operating in the energy generation and distribution sectors in Brazil since 1997, having invested $6.9 billion with over 7,400 employees following good governance and sustainability practices.
2) AES Brasil is the second largest group in the electric sector in Brazil in terms of EBITDA and net income in 2010, and AES Tietê is an important privately held generation company and the 10th largest overall.
3) AES Brasil is also the largest distribution group in Brazil, with AES Eletropaulo distributing 43 TWh, representing 10.3% of the national market in 2010, making it the largest private distributor.
AES Brasil Group is a large energy company in Brazil comprised of four companies in the sectors of energy generation and distribution. It has been operating in Brazil since 1997, and has invested $6.9 billion from 1998-2010. It employs over 7,400 people and has good corporate governance and sustainability practices. A significant portion of AES Tietê's billed energy and net revenues comes from its long-term bilateral contract to supply energy to AES Eletropaulo, Brazil's largest electricity distribution company.
The document provides an overview of AES Brasil Group, a company operating in the energy generation and distribution sectors in Brazil since 1997. It discusses AES Brasil's investments, governance practices, recognition awards, dividend policies for its subsidiaries, shareholding structure, financial performance compared to other Brazilian energy companies, and the role of AES Tietê as a major private energy generator in Brazil. AES Brasil is the second largest group in the electric sector in Brazil by EBITDA and net income in 2010, and the largest electricity distribution group by consumption.
AES Brasil Group operates in the energy generation and distribution sectors in Brazil, with investments totaling R$6.9 billion between 1998-2010. It comprises four companies, including AES Tietê which is the 2nd largest private electricity generator in Brazil, and AES Eletropaulo, which distributes 43 TWh and is the largest distribution group in the country. AES Brasil has received recognition for its management excellence, quality, safety, and environmental practices.
AES Brasil has been operating in Brazil since 1997 and comprises seven companies in the sectors of energy generation, distribution, trade and telecommunications. It has invested $6.9 billion since 1998 and employs 7,600 people. AES Brasil has a strong focus on good governance, sustainability, safety, and shareholder returns through high dividend payouts. It is recognized as a leader in quality, management excellence, and environmental stewardship. AES Brasil is the second largest electricity group in Brazil and operates primarily in generation and distribution.
The document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 across various energy sectors. It comprises seven companies with investments totaling R$6.9 billion from 1998-2010. AES Brasil has over 7,600 employees and practices good corporate governance and sustainability. It has a strong cash generation capacity and differentiated dividend practices among its companies. The document also summarizes AES Tietê and AES Eletropaulo, the two largest companies within AES Brasil Group.
This document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 across seven companies in the sectors of energy generation, distribution, trade and telecommunications. It details AES Brasil's investments, governance practices, recognition for management excellence and environmental concern. Charts show AES Brasil is the second largest group in the electric sector in Brazil based on EBITDA and net income in 2010. AES Tietê is an important private energy generator and AES Brasil is the largest distribution group in Brazil.
AES Brasil is a large energy company operating in Brazil since 1997. It is comprised of four companies involved in energy generation and distribution, with over 7,000 employees. From 1998-2011, AES Brasil invested $8.1 billion in Brazil. It has strong corporate governance and sustainability practices. AES Brasil has a large market share in both electricity generation and distribution in Brazil.
1) AES Brasil Group is comprised of four companies operating in the energy generation and distribution sectors in Brazil since 1997, having invested $6.9 billion with over 7,400 employees following good governance and sustainability practices.
2) AES Brasil is the second largest group in the electric sector in Brazil in terms of EBITDA and net income in 2010, and AES Tietê is an important privately held generation company and the 10th largest overall.
3) AES Brasil is also the largest distribution group in Brazil, with AES Eletropaulo distributing 43 TWh, representing 10.3% of the national market in 2010, making it the largest private distributor.
AES Brasil Group is a large energy company in Brazil comprised of four companies in the sectors of energy generation and distribution. It has been operating in Brazil since 1997, and has invested $6.9 billion from 1998-2010. It employs over 7,400 people and has good corporate governance and sustainability practices. A significant portion of AES Tietê's billed energy and net revenues comes from its long-term bilateral contract to supply energy to AES Eletropaulo, Brazil's largest electricity distribution company.
The document provides an overview of AES Brasil Group, a company operating in the energy generation and distribution sectors in Brazil since 1997. It discusses AES Brasil's investments, governance practices, recognition awards, dividend policies for its subsidiaries, shareholding structure, financial performance compared to other Brazilian energy companies, and the role of AES Tietê as a major private energy generator in Brazil. AES Brasil is the second largest group in the electric sector in Brazil by EBITDA and net income in 2010, and the largest electricity distribution group by consumption.
AES Brasil Group operates in the energy generation and distribution sectors in Brazil, with investments totaling R$6.9 billion between 1998-2010. It comprises four companies, including AES Tietê which is the 2nd largest private electricity generator in Brazil, and AES Eletropaulo, which distributes 43 TWh and is the largest distribution group in the country. AES Brasil has received recognition for its management excellence, quality, safety, and environmental practices.
AES Brasil has been operating in Brazil since 1997 and comprises seven companies in the sectors of energy generation, distribution, trade and telecommunications. It has invested $6.9 billion since 1998 and employs 7,600 people. AES Brasil has a strong focus on good governance, sustainability, safety, and shareholder returns through high dividend payouts. It is recognized as a leader in quality, management excellence, and environmental stewardship. AES Brasil is the second largest electricity group in Brazil and operates primarily in generation and distribution.
The document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 across various energy sectors. It comprises seven companies with investments totaling R$6.9 billion from 1998-2010. AES Brasil has over 7,600 employees and practices good corporate governance and sustainability. It has a strong cash generation capacity and differentiated dividend practices among its companies. The document also summarizes AES Tietê and AES Eletropaulo, the two largest companies within AES Brasil Group.
This document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 across seven companies in the sectors of energy generation, distribution, trade and telecommunications. It details AES Brasil's investments, governance practices, recognition for management excellence and environmental concern. Charts show AES Brasil is the second largest group in the electric sector in Brazil based on EBITDA and net income in 2010. AES Tietê is an important private energy generator and AES Brasil is the largest distribution group in Brazil.
The document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 and is comprised of seven companies in the energy, distribution, trade and telecommunications sectors. It invests billions in Brazil and has over 7,000 employees. AES Brasil has strong corporate governance and sustainability practices. It has a differentiated dividend policy among its companies. The document also outlines AES Brasil's recognition for quality, safety, management excellence and environmental concern. It provides shareholding structures and lists AES Brasil as the second largest group in the Brazilian electric sector based on EBITDA and net income.
AES Brasil is a leading energy company in Brazil that has been operating in the country since 1997. It has over 2,600 MW of installed generation capacity and distributes over 53 TWh of energy annually to 7.7 million consumers. AES Brasil aims to be a leader in operational and financial management in the Brazilian energy sector and expand its installed capacity. The company operates in a regulated industry with tariffs set by the national regulator ANEEL that are adjusted annually based on inflation and productivity factors to incentivize cost efficiencies.
AES Brasil is a leading energy company in Brazil that has been operating in the country since 1997. It has over 2,600 MW of installed generation capacity and distributes over 53 TWh of energy annually to 7.7 million consumers. AES Brasil aims to be a leader in operational and financial management in the Brazilian energy sector and expand its installed capacity. The company operates in a regulated industry with tariffs set by the national regulator ANEEL that are adjusted annually based on inflation and productivity factors to incentivize cost efficiencies.
This document summarizes Brasiliana's 3rd quarter 2006 results. Key highlights include a 26% increase in adjusted EBITDA compared to the first 9 months of 2005, net profit of R$274.4 million compared to a loss in the same period last year, and a tariff adjustment of 11.45% granted in July 2006. The document also discusses the company's operating performance, financial performance, capital expenditures, debt profile, and conclusions.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
Santander - 14th annual latin American CEO ConferenceAES Tietê
AES Brasil is a large electricity distribution company operating in Brazil. In 9M09, it had net revenue of R$5.9 billion and EBITDA of R$1.7 billion. It serves 5.9 million customers across 24 municipalities in the São Paulo metropolitan region. AES Brasil has invested over R$5 billion since privatization and continues to invest in expanding and maintaining its network to improve reliability and reduce losses. It paid R$663 million in dividends in 2009.
Apresentao Institucional 4 T09 Eng Final 18032010AES Eletropaulo
The document provides an overview of AES Brasil Group, which has 6,000 employees and serves 7 million clients. In 2009, AES Brasil had net revenue of R$8.05 billion and net income of R$1.06 billion. The document discusses AES Eletropaulo, the largest electricity distribution company in Latin America, and AES Tietê, which generates hydroelectric power. Both companies have continued to invest in infrastructure and expand operations.
The document provides an overview of AES Brasil Group, which has 7 million clients and 6,000 employees in Brazil. In 2008, AES Brasil had R$3.2 billion in EBITDA and R$1.7 billion in net income. It discusses AES Brasil's investments, market share, subsidiaries, and shareholding structure. The second part summarizes key metrics for AES Eletropaulo including operating and financial results for 2008-2009.
The document summarizes the 2006 results of an energy company. Some key highlights include:
1) Adjusted EBITDA was R$2.49 billion in 2006, 16.7% higher than 2005. Net profit was R$373.4 million compared to a loss in 2005.
2) Debt was reduced by 19.8% and credit ratings were increased.
3) The captive electricity market grew 5.1% excluding free consumers. Total market increased 4.6% to 38,183 GWh.
4) Technical and commercial losses decreased while collection rates remained steady at over 99%. Fraud detection and clandestine connections were reduced.
This document provides an overview of Deutsche EuroShop AG, a German real estate investment company focused on shopping centers. Some key points:
- Deutsche EuroShop owns interests in 19 shopping centers located primarily in Germany but also in Poland, Austria, and Hungary.
- The company aims for long-term growth and stable increases in portfolio value through a "buy and hold" strategy of acquiring and expanding high-quality shopping centers.
- Shopping centers provide stable returns through long-term leases with inflation-linked rent increases and potential upside from turnover-linked rent components.
- The portfolio is well-occupied at 99% and generates stable cash flows, with a weighted average lease term of 7.4
1. Global volumes of Jaguar Land Rover (JLR) continued to grow significantly in March 2012 and are expected to grow 26% in fiscal year 2013 to around 398,000 units due to strong demand for recently launched models.
2. JLR has increased production capacity at some plants to 410,000 units by adding a third shift and has a strong pipeline of new product launches over the next 5 years.
3. The analyst values Tata Motors using a sum-of-the-parts valuation approach and sets a revised target price of Rs. 338 per share based on expected growth in JLR volumes and new product launches.
The document provides an overview of AES Brasil Group, which serves 7 million clients in Brazil. It summarizes AES Eletropaulo, the largest electricity distribution company in Latin America, which serves over 16 million people in the São Paulo metropolitan area. The document outlines AES Eletropaulo's investments, market share, financial results including revenues and earnings, electricity load served, and consumption trends among residential, commercial, industrial, and other customer classes.
CTEEP reported net income of R$200.5 million for the second quarter of 2011, up 5.2% from the second quarter of 2010. Net operating revenue increased 37.3% year-over-year to R$690.7 million for the quarter. CTEEP is the leading private sector electricity transmission company in Brazil, operating over 12,000 km of transmission lines across 12 states.
This document provides an overview of Deutsche EuroShop AG, a German company that invests solely in shopping centers. It discusses the company's equity story, key figures, portfolio of 19 shopping centers located primarily in Germany, Poland, Austria and Hungary. It also summarizes the company's lease system, targets of long-term growth and stable dividends, and provides an overview of its financial results for Q1 2012.
NAL Energy Corporation is an oil and gas producer focused on light oil with assets in western Canada. Some key points:
- Market cap of $1.2 billion with monthly dividend of $0.07/share and current yield of 10.4%
- Produces over 28,000 boe/day from assets in Alberta, southeast Saskatchewan, and British Columbia. Reserves of 104 MMBoe with 50% liquids.
- Focused on oil drilling for its 2011 $240 million capital program to maintain production of around 28,500 boe/day for the year. Hedges over 50% of oil volumes.
- Operates across different oil resource plays like the Cardium, V
Bw Plantation Making The Leap From Good To GreatLinda Lauwira
BW Plantation transformed from a price-taker to a price-maker company in oil palm production and sales from 2009-2010 through a synergy of increased passion, focusing on production and price as key drivers, and improving efficiency. The company revolutionized harvesting and collection methods, implemented an integrated bin system, and built a jetty for faster transport, reducing costs and allowing them to command a sales premium. This focus on efficiency helped gross margins grow from 39% to 66% from 2005-2010 while keeping costs of goods sold declining.
1. Marketing involves creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society. It requires coordination across a company.
2. Companies can have different orientations - production focuses on internal capabilities, sales uses aggressive techniques, marketing concept satisfies customer needs, and societal preserves long-term interests.
3. Sales orientation focuses on the company and aims for high volume, while market orientation focuses on customer needs and satisfaction through coordination.
PinoyWatchDog.com | Atty James Beirne Lita Brutas Sex ScandalPinoyInsider
The document alleges that Anthony Allen and his wife Luchie Mendoza illegally own and operate the Beirne Law Office in California. It is illegal for non-lawyers to own a law office. The document provides evidence that Allen owns and manages the law office and Balita newspaper, including shared office locations and staff. James Beirne's law license was suspended in 1998 for allowing non-lawyers at the firm to provide legal advice. The document raises concerns over continued misleading advertising by the law office.
The document provides an overview of AES Brasil Group, which has a presence in Brazil since 1997 and is comprised of seven companies in the energy, distribution, trade and telecommunications sectors. It invests billions in Brazil and has over 7,000 employees. AES Brasil has strong corporate governance and sustainability practices. It has a differentiated dividend policy among its companies. The document also outlines AES Brasil's recognition for quality, safety, management excellence and environmental concern. It provides shareholding structures and lists AES Brasil as the second largest group in the Brazilian electric sector based on EBITDA and net income.
AES Brasil is a leading energy company in Brazil that has been operating in the country since 1997. It has over 2,600 MW of installed generation capacity and distributes over 53 TWh of energy annually to 7.7 million consumers. AES Brasil aims to be a leader in operational and financial management in the Brazilian energy sector and expand its installed capacity. The company operates in a regulated industry with tariffs set by the national regulator ANEEL that are adjusted annually based on inflation and productivity factors to incentivize cost efficiencies.
AES Brasil is a leading energy company in Brazil that has been operating in the country since 1997. It has over 2,600 MW of installed generation capacity and distributes over 53 TWh of energy annually to 7.7 million consumers. AES Brasil aims to be a leader in operational and financial management in the Brazilian energy sector and expand its installed capacity. The company operates in a regulated industry with tariffs set by the national regulator ANEEL that are adjusted annually based on inflation and productivity factors to incentivize cost efficiencies.
This document summarizes Brasiliana's 3rd quarter 2006 results. Key highlights include a 26% increase in adjusted EBITDA compared to the first 9 months of 2005, net profit of R$274.4 million compared to a loss in the same period last year, and a tariff adjustment of 11.45% granted in July 2006. The document also discusses the company's operating performance, financial performance, capital expenditures, debt profile, and conclusions.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
Santander - 14th annual latin American CEO ConferenceAES Tietê
AES Brasil is a large electricity distribution company operating in Brazil. In 9M09, it had net revenue of R$5.9 billion and EBITDA of R$1.7 billion. It serves 5.9 million customers across 24 municipalities in the São Paulo metropolitan region. AES Brasil has invested over R$5 billion since privatization and continues to invest in expanding and maintaining its network to improve reliability and reduce losses. It paid R$663 million in dividends in 2009.
Apresentao Institucional 4 T09 Eng Final 18032010AES Eletropaulo
The document provides an overview of AES Brasil Group, which has 6,000 employees and serves 7 million clients. In 2009, AES Brasil had net revenue of R$8.05 billion and net income of R$1.06 billion. The document discusses AES Eletropaulo, the largest electricity distribution company in Latin America, and AES Tietê, which generates hydroelectric power. Both companies have continued to invest in infrastructure and expand operations.
The document provides an overview of AES Brasil Group, which has 7 million clients and 6,000 employees in Brazil. In 2008, AES Brasil had R$3.2 billion in EBITDA and R$1.7 billion in net income. It discusses AES Brasil's investments, market share, subsidiaries, and shareholding structure. The second part summarizes key metrics for AES Eletropaulo including operating and financial results for 2008-2009.
The document summarizes the 2006 results of an energy company. Some key highlights include:
1) Adjusted EBITDA was R$2.49 billion in 2006, 16.7% higher than 2005. Net profit was R$373.4 million compared to a loss in 2005.
2) Debt was reduced by 19.8% and credit ratings were increased.
3) The captive electricity market grew 5.1% excluding free consumers. Total market increased 4.6% to 38,183 GWh.
4) Technical and commercial losses decreased while collection rates remained steady at over 99%. Fraud detection and clandestine connections were reduced.
This document provides an overview of Deutsche EuroShop AG, a German real estate investment company focused on shopping centers. Some key points:
- Deutsche EuroShop owns interests in 19 shopping centers located primarily in Germany but also in Poland, Austria, and Hungary.
- The company aims for long-term growth and stable increases in portfolio value through a "buy and hold" strategy of acquiring and expanding high-quality shopping centers.
- Shopping centers provide stable returns through long-term leases with inflation-linked rent increases and potential upside from turnover-linked rent components.
- The portfolio is well-occupied at 99% and generates stable cash flows, with a weighted average lease term of 7.4
1. Global volumes of Jaguar Land Rover (JLR) continued to grow significantly in March 2012 and are expected to grow 26% in fiscal year 2013 to around 398,000 units due to strong demand for recently launched models.
2. JLR has increased production capacity at some plants to 410,000 units by adding a third shift and has a strong pipeline of new product launches over the next 5 years.
3. The analyst values Tata Motors using a sum-of-the-parts valuation approach and sets a revised target price of Rs. 338 per share based on expected growth in JLR volumes and new product launches.
The document provides an overview of AES Brasil Group, which serves 7 million clients in Brazil. It summarizes AES Eletropaulo, the largest electricity distribution company in Latin America, which serves over 16 million people in the São Paulo metropolitan area. The document outlines AES Eletropaulo's investments, market share, financial results including revenues and earnings, electricity load served, and consumption trends among residential, commercial, industrial, and other customer classes.
CTEEP reported net income of R$200.5 million for the second quarter of 2011, up 5.2% from the second quarter of 2010. Net operating revenue increased 37.3% year-over-year to R$690.7 million for the quarter. CTEEP is the leading private sector electricity transmission company in Brazil, operating over 12,000 km of transmission lines across 12 states.
This document provides an overview of Deutsche EuroShop AG, a German company that invests solely in shopping centers. It discusses the company's equity story, key figures, portfolio of 19 shopping centers located primarily in Germany, Poland, Austria and Hungary. It also summarizes the company's lease system, targets of long-term growth and stable dividends, and provides an overview of its financial results for Q1 2012.
NAL Energy Corporation is an oil and gas producer focused on light oil with assets in western Canada. Some key points:
- Market cap of $1.2 billion with monthly dividend of $0.07/share and current yield of 10.4%
- Produces over 28,000 boe/day from assets in Alberta, southeast Saskatchewan, and British Columbia. Reserves of 104 MMBoe with 50% liquids.
- Focused on oil drilling for its 2011 $240 million capital program to maintain production of around 28,500 boe/day for the year. Hedges over 50% of oil volumes.
- Operates across different oil resource plays like the Cardium, V
Bw Plantation Making The Leap From Good To GreatLinda Lauwira
BW Plantation transformed from a price-taker to a price-maker company in oil palm production and sales from 2009-2010 through a synergy of increased passion, focusing on production and price as key drivers, and improving efficiency. The company revolutionized harvesting and collection methods, implemented an integrated bin system, and built a jetty for faster transport, reducing costs and allowing them to command a sales premium. This focus on efficiency helped gross margins grow from 39% to 66% from 2005-2010 while keeping costs of goods sold declining.
1. Marketing involves creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society. It requires coordination across a company.
2. Companies can have different orientations - production focuses on internal capabilities, sales uses aggressive techniques, marketing concept satisfies customer needs, and societal preserves long-term interests.
3. Sales orientation focuses on the company and aims for high volume, while market orientation focuses on customer needs and satisfaction through coordination.
PinoyWatchDog.com | Atty James Beirne Lita Brutas Sex ScandalPinoyInsider
The document alleges that Anthony Allen and his wife Luchie Mendoza illegally own and operate the Beirne Law Office in California. It is illegal for non-lawyers to own a law office. The document provides evidence that Allen owns and manages the law office and Balita newspaper, including shared office locations and staff. James Beirne's law license was suspended in 1998 for allowing non-lawyers at the firm to provide legal advice. The document raises concerns over continued misleading advertising by the law office.
O grupo de alunos propõe um projeto chamado "Verdadeira Ecologia" para levar mensagens sobre sustentabilidade mais ampla para escolas públicas. O projeto ensinaria sobre sustentabilidade social e respeito entre seres vivos, e ajudaria escolas a desenvolverem projetos sustentáveis locais. O objetivo é disseminar um entendimento mais profundo de sustentabilidade para beneficiar a sociedade e a natureza.
demand perspectives
The document summarizes the AES Brasil Group and its companies in Brazil. It notes that AES Brasil has a presence in Brazil since 1997 through seven companies in the energy sector. It operates in generation, distribution, trade and telecommunications. Key points include over $5.8 billion invested from 1998-2009 and strong cash generation capacity. The document also provides an overview of AES Tietê and AES Eletropaulo, the largest generation and distribution companies respectively. It discusses the companies' concession areas, operational performance, investments and financial highlights. The energy sector outlook in Brazil is also summarized, with expected growth in GDP, electricity consumption and the generation matrix through 2019.
This document provides an overview of Eletropaulo, the largest electricity distribution company in Latin America. It includes a corporate structure chart and highlights from the first half of 2007. Some key points:
- Eletropaulo serves over 5.6 million customers across 24 municipalities in Greater São Paulo.
- Adjusted EBITDA for 1H07 was R$1.294 billion, up 3.2% from 1H06. Net profit increased 122.7% to R$505.5 million.
- ANEEL authorized an average tariff reduction of 8.43% for Eletropaulo effective July 2007 following a tariff review.
- Operating highlights for
This document provides an overview of Eletropaulo, the largest electricity distribution company in Latin America. It includes a corporate structure chart and highlights from the first half of 2007. Some key points:
- Eletropaulo serves over 5.6 million customers in Greater São Paulo.
- Adjusted EBITDA increased 3.2% in 1H07 compared to 1H06. Net profit increased 122.7%.
- Tariffs were reduced by 8.43% effective July 2007 following a regulatory review.
- Investments totaled R$193 million in 1H07 focused on expansion, IT, and loss recovery.
- Operating results were positively impacted by higher energy
AES Brasil is a major electricity distribution company in Brazil serving over 7 million customers. In the first 9 months of 2009, it achieved net revenue of R$5.9 billion and net income of R$538 million. It has investments of R$324 million in expanding and maintaining its network during this period. AES Brasil maintains strong operational and financial performance as demonstrated by its industry leading metrics.
AES Brasil is a large electricity distribution company operating in Brazil. In 9M09, it had net revenue of R$5.9 billion and EBITDA of R$1.7 billion. It serves 5.9 million customers across 24 municipalities in the São Paulo metropolitan region. AES Brasil has invested over R$5 billion since privatization and continues to invest in expanding and maintaining its network to improve reliability and reduce losses. It paid R$663 million in dividends in 2009.
The document provides an overview of AES Brasil Group, a major electricity company in Brazil. It operates distribution companies serving over 7 million clients across several states. AES Brasil has invested $5 billion since privatization in 1998 and generated $3.2 billion in EBITDA in 2008. The document also outlines the shareholding structure and regulatory environment of Brazil's electricity sector. It concludes with an overview of AES Eletropaulo, the largest distribution company in Latin America serving the São Paulo metropolitan region.
The document provides an overview of AES Brasil Group, which has 6,000 employees and serves 7 million clients. In 2009, AES Brasil had net revenue of R$8.05 billion and net income of R$1.06 billion. The document focuses on two key subsidiaries, AES Eletropaulo and AES Tietê. AES Eletropaulo is the largest electricity distributor in Latin America, serving the São Paulo metropolitan region. AES Tietê operates 10 hydroelectric plants in São Paulo with total installed capacity of 2,657 MW. Both companies have steadily increased revenue and earnings in recent years through investments, operational improvements, and regulated tariff adjustments.
Citi's 3rd Annual Brazil Equity Conference_ENGAES Tietê
The document discusses AES Brasil Group, which serves 7 million clients through its various electricity distribution companies in Brazil. It had revenues of R$3.2 billion and net income of R$1.9 billion in 2009. AES Eletropaulo is its largest distribution company, serving 5.9 million clients in the São Paulo metropolitan region, with revenues of R$6.7 billion, making it the largest electricity distributor in Latin America by revenue.
Citi's 3rd Annual Brazil Equity Conference_EngAES Eletropaulo
- AES Brasil Group is one of Brazil's largest private power companies, serving over 7 million clients through distribution and generation businesses.
- In 2009, AES Brasil Group reported R$3.2 billion in EBITDA and R$1.9 billion in net income.
- AES Eletropaulo is AES Brasil Group's largest distribution business, serving over 5.9 million clients in the São Paulo metropolitan region. In the first quarter of 2010, AES Eletropaulo reported R$341 million in EBITDA.
Citi's 3rd Annual Brazil Equity ConferenceAES Tietê
- AES Brasil Group is one of Brazil's largest private power companies, serving over 7 million clients through distribution and generation businesses.
- In 2009, AES Brasil had net income of R$1.9 billion and EBITDA of R$3.2 billion.
- AES Eletropaulo is Brazil's largest electricity distribution company by number of clients, serving over 5.9 million clients in the São Paulo metropolitan region. In the first quarter of 2010, AES Eletropaulo had net revenue of R$2.1 billion and EBITDA of R$341 million.
The document discusses AES Brasil Group, which serves 7 million clients through its various electricity distribution companies in Brazil. It had revenues of R$3.2 billion and net income of R$1.9 billion in 2009. AES Eletropaulo is one of its key subsidiaries. It is the largest electricity distribution company in Latin America, serving 5.9 million consumption units in the wealthy São Paulo metropolitan area through 46,000 km of lines.
The document discusses AES Brasil Group, which serves 7 million clients through its various electricity distribution companies in Brazil. It had revenues of R$3.2 billion and net income of R$1.9 billion in 2009. AES Eletropaulo is one of its key subsidiaries. It is the largest electricity distribution company in Latin America, serving 5.9 million consumption units in the wealthy São Paulo Metropolitan region. It had revenues of R$6.7 billion in 2007, making it the largest distributor by that metric.
The document provides an overview of AES Brasil Group, one of the largest power companies in Brazil. It details AES Brasil's operational figures including consumption units, distributed energy, installed capacity, and generated energy. It also discusses AES Brasil's recognition for management excellence, quality and safety, and environmental concern. Finally, it summarizes AES Brasil's mission, social responsibility investments, shareholding structure, and position as the second largest group in Brazil's electric sector.
The document summarizes the corporate structure and hydroelectric power plant assets of AES Tietê, a Brazilian energy company. AES Tietê operates 10 hydroelectric power plants located along rivers in the state of São Paulo under 30-year concession agreements. The plants have a total installed capacity of 2,651 MW and AES Tietê sells 100% of the assured energy production of 1,275 MW on long-term contracts. Over the last 20 years, AES Tietê has consistently generated 18% more energy than the minimum assured amounts in the concession agreements.
AES Brasil is a major electricity company in Brazil that has been operating in the country since 1997. It serves over 20 million customers across its distribution and generation businesses. AES Brasil has over 7,000 employees and has invested $9.4 billion from 1998-2012. It has solid governance practices and prioritizes safety. AES Brasil's companies include generators AES Tietê and distributors AES Eletropaulo and AES Sul. AES Tietê is among the largest private generators in Brazil while AES Eletropaulo is one of the largest distributors. AES Brasil is focusing on growth projects like new thermal plants and contracting more energy on the free market as physical guarantees from its plants decline.
AES Brasil is a major electricity company in Brazil that has been operating in the country since 1997. It serves over 20 million customers across its distribution and generation businesses. AES Brasil has over 7,000 employees and has invested $9.4 billion from 1998-2012. It has solid governance practices and prioritizes safety. AES Brasil's companies include generators AES Tietê and distributors AES Eletropaulo and AES Sul. AES Tietê is among the largest private generators in Brazil while AES Eletropaulo is one of the largest distributors. AES Brasil is focusing on growth projects like new thermal plants and contracting more energy on the free market as physical guarantees from its plants decline.
The document provides an overview of AES Brasil, a leading energy company in Brazil. AES Brasil has over 7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It has over 7,400 employees and has invested $8.1 billion from 1998-2011. AES Brasil includes distribution companies like AES Eletropaulo and AES Sul, and generation companies like AES Tietê. It discusses the company's operations, investments in social responsibility, recognition awards, shareholding structure, and positioning in the Brazilian energy market.
Itaú bba 8th annual lat am ceo conference in nyAES Eletropaulo
1) AES Brasil is a major player in Brazil's electricity sector with over 7.7 million customers, 20.2 million people served, and 54.4 TWh of energy distributed annually. It has invested $9.4 billion from 1998-2012.
2) AES Tietê is AES Brasil's hydroelectric power generation business with 2,658 MW of installed capacity. It supplies energy to AES Eletropaulo through 2015 and is expanding its customer portfolio for the free market post-2015.
3) In 1Q13, 89% of AES Tietê's net revenues and 73% of its energy sales came from its contract with AES Eletropaulo. It
The document provides an overview of AES Brasil, one of the largest electricity generation and distribution groups in Brazil. Some key details include:
- AES Brasil has over 7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed generation capacity.
- It has a presence in Brazil since 1997 and over 7,400 employees.
- Two of its subsidiaries, AES Tietê and AES Eletropaulo, are publicly listed on the Brazilian stock exchange.
- AES Brasil is recognized for its management excellence, quality and safety practices, and environmental stewardship.
- It has a mission to provide reliable, sustainable energy solutions while promoting development and improving lives
The document provides an overview of AES Brasil, one of the largest electricity generation and distribution groups in Brazil. Some key details include:
- AES Brasil has over 7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed generation capacity.
- It has a presence in Brazil since 1997 and over 7,400 employees.
- AES Tietê is the second largest private electricity generator in Brazil and AES Eletropaulo is one of the largest distribution companies.
- The Brazilian electricity sector is undergoing expansion to meet growing demand, with opportunities for renewable energy growth.
Similar to Apresentação institucional 4_q11_en_v3 (20)
9M12
9M13
2010
2011
2012
9M12
9M13
Ebitda Margin
Net Revenue
Ebitda
1. AES Tietê is a leading private hydroelectric power generation company in Brazil with over 2,600 MW of installed capacity. It has a long-term power purchase agreement with AES Eletropaulo, Brazil's largest utility.
2. AES Eletropaulo is Brazil's largest utility, serving over 17 million customers in the metropolitan region of São Paulo. It has investment grade credit ratings and is focused on improving operational performance through investments in grid modernization and loss reduction
- AES Eletropaulo reported a 14% reduction in non-technical losses and a 5% reduction in SAIDI and SAIFI indicators in 3Q13 compared to the previous year. Investments totaled R$193 million focused on operational reliability and customer service.
- Revenue decreased 16.9% to R$3.12 billion due to a government mandated electricity cost reduction program, but was offset by a 2.7% growth in total consumption. Cost reduction programs led to a R$44 million decrease in expenses.
- EBITDA increased to R$142 million and net income was R$27 million, supported by cost reductions and market growth. Cash generation was positively impacted by improved
O documento resume os resultados financeiros e operacionais da empresa no 3T13, destacando: (1) redução de 14% nas perdas não técnicas e melhoria nos indicadores de qualidade como DEC e FEC; (2) investimentos de R$193 milhões focados em confiabilidade e serviços ao cliente; (3) crescimento de 2,7% no consumo total apoiado pelos mercados residencial e comercial.
In 2012, AES Eletropaulo saw a 1% increase in energy consumption but a decrease in operational metrics like SAIDI and SAIFI. Financial results were lower in 2012 with a 77% drop in EBITDA and 93% decrease in net income due to tariff reductions, higher energy costs, and one-time gains in 2011. The company invested R$831 million in 2012 focusing on maintenance, expansion and customer service. For 2013, AES Eletropaulo is focusing on efficiency initiatives to reduce costs and debt.
O documento apresenta os resultados financeiros e operacionais da empresa no 4T12 e ano de 2012. Os principais pontos são: investimentos de R$831 milhões em 2012, queda no EBITDA de 77% e lucro líquido de 93%, devido à revisão tarifária. Houve também redução nos índices DEC e FEC e aumento de 1% no consumo de energia.
The document summarizes the 3Q12 results of a company. Key points include:
- Operational improvements with decreases in SAIDI and SAIFI indices. Investments increased 10% to R$225 million.
- Financial results declined due to a 5% decrease in revenues from tariff adjustments, and higher energy costs. EBITDA decreased 83% to R$108 million and net income declined 96% to R$14 million.
- The company restructured debts, increasing average maturity to 7.2 years and reducing average costs. Covenants were also made more flexible considering regulatory assets/liabilities and IFRS changes.
O relatório resume os resultados do terceiro trimestre de 2012, com queda na receita e lucro líquido devido à revisão tarifária e aumento nos custos de compra de energia. Os índices de qualidade como DEC e FEC permaneceram abaixo dos limites regulatórios. A companhia também reestruturou sua dívida alongando prazos e reduzindo custos.
In the first quarter of 2013, AES Eletropaulo saw a 14% decrease in gross revenues due to a mandated 20% average tariff reduction. Key operational metrics like SAIDI and SAIFI showed improvements compared to prior periods. Adjusted EBITDA increased 35% year-over-year due to lower expenses in Parcel A and manageable costs growing slower than inflation. A provision for funds transferred from the CDE represented a 17% decrease in Parcel A expenses. Net income declined due to the tariff reset, but cash generation increased 27% with reduced Parcel A costs and expenses.
Apresentacao aes eletropaulo_1_t13_final - sem discursoAES Eletropaulo
O relatório resume os resultados do primeiro trimestre de 2013 da empresa, destacando: 1) redução de 13% no DEC e de 10% no FEC em comparação ao mesmo período do ano anterior; 2) geração de caixa de R$ 385 milhões, 27% superior ao primeiro trimestre de 2012; 3) Ebitda ajustado de R$ 209 milhões, 35% superior ao primeiro trimestre de 2012.
O documento fornece informações sobre as operações e projetos da AES Tietê, incluindo:
1) A AES Tietê opera usinas hidrelétricas que totalizam 2.658 MW de capacidade instalada. A empresa planeja investir R$ 719 milhões entre 2013-2017 para modernizar as usinas.
2) A empresa tem estratégia de crescimento focada em térmicas e eólicas. Dois projetos térmicos em desenvolvimento são o Termo São Paulo (550 MW) e o Termo Araraquara (579 MW).
3) O
6th annual citi brazil equity conference são pauloAES Eletropaulo
2012
1Q12
1Q13
2010
2011
2012
1Q12
1Q13
- AES Brasil is a major player in Brazil's electricity sector with over 7.7 million customers and over 20 million people served. It has invested $14.7 billion since 1997.
- AES Tietê is AES Brasil's hydroelectric power generation business with over 2,600 MW of installed capacity. It supplies over 11,000 GWh annually to distribution companies like AES Eletropaulo.
- AES Tietê has been expanding its customer portfolio in Brazil's evolving electricity market and aims to contract more energy directly in the
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997. It details AES Brasil's operational figures including 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It also discusses AES Brasil's mission of providing safe, reliable, and sustainable energy solutions. Additionally, the document outlines AES Brasil's social responsibility programs and its position as the second largest electricity generation and distribution group in Brazil.
A apresentação discute a revisão tarifária periódica da AES Eletropaulo, destacando: (1) os investimentos realizados entre 2007-2011; (2) os desafios para o próximo ciclo, incluindo metas de qualidade e investimentos futuros; (3) a composição da tarifa e a necessidade de adequar a base de remuneração regulatória.
AES Brasil Group is a major electricity company in Brazil that operates across generation, transmission, and distribution. It has over 7,000 employees, 8.1 billion reais in investments from 1998-2011, and generates over 13 TWh of energy annually from its 2,659 MW of installed capacity. Two of its main subsidiaries, AES Tietê and AES Eletropaulo, are recognized for management excellence, quality, safety, and environmental concern. AES Tietê operates 18 hydroelectric plants and AES Eletropaulo is the largest electricity distributor in Latin America, serving over 6 million customers in the São Paulo metropolitan area. Both companies have strong financial performance and distribute steady divid
O documento resume as informações sobre o grupo AES Brasil e suas subsidiárias AES Tietê e AES Eletropaulo. Apresenta dados operacionais e financeiros das empresas, incluindo investimentos, geração e distribuição de energia, reconhecimentos recebidos e estrutura acionária.
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997. It details AES Brasil's operational figures including 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It also discusses AES Brasil's mission of providing safe, reliable, and sustainable energy solutions. Additionally, the document outlines AES Brasil's involvement in social responsibility programs and its position as the second largest electricity generation and distribution group in Brazil.
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997, with 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It details AES Brasil's operations across generation, transmission, distribution and service provision segments. The document also discusses AES Brasil's social responsibility programs, regulatory framework, the Brazilian energy sector landscape and AES Brasil's position as one of the largest players in the country.
The document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. Some key points:
- AES Brasil is the second largest group in the Brazilian electric sector based on 2009 EBITDA and net income.
- It has a presence in Brazil since 1997 and is comprised of seven companies with over 7,700 employees.
- AES Tietê is the group's main generation company and AES Eletropaulo is the largest distribution company in Latin America, serving the São Paulo metropolitan region.
- Both AES Tietê and AES Eletropaulo have long-term concessions and contracts in place and have been
O documento fornece um resumo do Grupo AES Brasil, descrevendo sua presença no Brasil desde 1997, seu portfólio de negócios em geração, distribuição e comercialização de energia, além de telecomunicações, com ênfase nas práticas de governança corporativa sustentável.
Nd roadshow santander e conferência itaú ny engAES Eletropaulo
The document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. It discusses AES Brasil's presence since 1997, investments of $6.9 billion from 1998-2010, and its focus on good governance, sustainability, and safety. The document also summarizes recognition received by AES Brasil companies in 2009-2010 for quality, management excellence, and environmental concern. It then reviews the shareholding and capital structures of key AES Brasil companies.
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2. AES Brasil Group
• Presence in Brazil since 1997
• Comprised of four companies in the sectors of
energy generation and distribution
• 7.4 thousand AES Brasil People
• Investments 1998-2011: R$ 8.1 billion
• Good corporate governance practices
• Sustainable practices in businesses
• Safety as a main value
• Strong cash generation capacity
• 25% of minimum pay-out according to bylaws
• Differentiated practice of dividend distribution
since 2006:
– AES Tietê: 100% of net income on quarterly
basis
– AES Eletropaulo: distribution above the
minimum required (25% of net income) on
semi-annual basis
2
4. Shareholding Structure
AES Corp BNDES
C 50.00% + 1 share C 50.00% - 1 share
P 0.00% P 100%
T 46.15% T 53.85%
Cia. Brasiliana
de Energia
C 71.35% C 76.45%
C 99.99% C 99.00% P 32.34% P 7.38%
T 99.70% T 99.99% T 99.00% T 52.55% T 34.87%
AES AES AES AES
AES Sul
Infoenergy Uruguaiana Tietê Eletropaulo
C = Common Shares
P = Preferred Shares
T = Total
4
5. Listed Companies Shareholding Composition
¹ ¹ Free Float Others² Market Cap³
16.1% 19.2% 56.2% 8.5% R$ 4.8 bi
24.2% 28.3% 39.5% 8.0% R$ 8.5 bi
1 - Parent companies, AES Corp and BNDES, have similar voting capital on each of the Companies: approx 38.2% on AES Eletropaulo and 35.7% on AES Tietê
2 - Includes Federal Government and Eletrobrás shares in AES Eletropaulo and AES Tietê, respectively
3 - Base: 09/30/2011. Considers preferred shares for AES Eletropaulo and preferred and common shares for AES Tietê
5
6. AES Brasil is the second largest group in
Ebitda1 – 2010 (R$ Billion)
electric sector
4.5
4.2
3.4
3.0
2.6
2.0 1.6
1.6
1.5
0.6
CEMIG AES BRASIL CPFL NEOENERGIA TRACTEBEL CESP EDP LIGHT COPEL DUKE
Net Income1 – 2010 (R$ Billion)
2.3 2.2
1.8
1.6
1.2
1.0
0.6 0.6
0.2
0.1
CEMIG AES BRASIL NEOENERGIA CPFL TRACTEBEL COPEL EDP LIGHT DUKE CESP
6
1 – excluding Eletrobrás Source: Companies’ financial reports
7. AES Tietê is an important player among private
Generation Installed Capacity (MW) - 2012 1
energy generators
Main privately held Companies
AES Tietê is the 3rd largest among private
AES TIETÊ CPFL DUKE
2,3% 2,4% 1,9%
EDP generation companies and 10th largest
1,6%
TRACTEBEL NEOENERGIA
6,1% 1,2% overall
ENDESA
0,8%
LIGHT
0,8% Approximately 78% of country’s
generation installed capacity is state-
DEMAIS CHESF ³ owned2
27% 9%
FURNAS ³ There are three mega hydropower plants
8%
under construction in the North region of
ELETRONORTE ³
8%
Brazil with 18 GW in installed capacity
COPEL ITAIPU ³
4% 6%
– Santo Antonio and Jirau (Madeira River): 7 GW
PETROBRÁS ELETRONUCLEAR ³
5% CEMIG CESP 3%
6% 6% CGTEE ³ – Belo Monte (Xingu River): 11 GW
1%
ELETROSUL ³
0,4% 1- Sources: ANEEL – BIG (March, 2012) and Companies websites 2- Source: Merrill Lynch
Total Installed Capacity: 117 GW 7
3 – Eletrobrás, totaling 35%
8. AES Brasil is the largest distribution group
in Brazil
Consumption (GWh) - 2010
13%
• 63 distribution companies in Brazil
distributing 419 TWh
40% 12%
AES Brasil
AES Brasil
• AES Brasil is the largest electricity
distribution group in Brazil:
CPFL Energia
CPFL Energia
10% – AES Eletropaulo: 43 TWh distributed,
7%
CEMIG
Cemig representing 10.3% of the Brazilian
6% 6% market
6%
Neoenergia
Neo Energia
Consumers – Dec/2010 – AES Sul: 9 TWh distributed,
12% Copel
Copel representing 2.2% of the Brazilian
market
30% Light
Light
12% Distribution companies’ operations are
EDP
EDP
restricted to their concession areas
12%
Outros
Outros Acquisitions must be only performed by
5% the holdings of economic groups
7%
7% 16% 8
10. Energy Sector in Brazil: business segments
Free Clients Distribution Transmission Generation
• Consumption of 113 TWh • 63 companies • 68 companies • 13 groups controlling 76% of
(26% of Brazilian total market) • 430 TWh of energy • 68% private sector total installed capacity
• Conventional sources: distributed in 2011 • 22% private sector
• High voltage transmission
above 3000 kW • 1,862 power plants
• 70 million consumers (>230 kV)
• Alternative sources: • 117 GW of installed capacity
• 67% private sector • 98.648 km in extension
between 500 kW e 3000 kW • 73% hydroelectric
• Annual tariff adjustment lines (SIN¹)
• Large consumers can • 17% thermoelectric
• Tariff reset every four or • Regulated public service
purchase energy directly
five years with free access • 5% biomass
from generators
• Regulated public service • Regulated tariff (annually • 4% SHPP2
• Free contracting
• Regulated contracting adjusted by inflation)
environment • 1% Wind
environment
• Contracting environment –
¹ Interconected National System
free and regulated markets 10
² Small Hydro Power Plants Sources: EPE, Aneel, ONS and Merrill Lynch
11. Energy sector in Brazil:
contracting environment
Regulated Market Free Market
Generators, Independent Power Producers Generators and Independent
(IPPs), Trading companies and Auto producers Power Producers (IPPs)
Auctions: New Energy
Bilateral contracts (PPAs1)
and Existing Energy
Distribution companies Free clients
• Main auctions (reverse auctions):
– New Energy (A-5): Delivery in 5 years, 15-30 years regulated PPA1
– New Energy (A-3): Delivery in 3 years, 15-30 years regulated PPA1
– Existing Energy (A-1): Delivery in 1 year, 5-15 years regulated PPA1
1 – Power Purchase Agreement 11
12. Energy sector in Brazil:
demand perspectives
Macroeconomic Scenario
GDP - Annual growth (%) EPE’s1 Assumptions:
2004-2008 2010 2011 2012-2015 • Latest EPE’s estimates considers an
3.6 7.2 4.0 5.0 economic activity slowdown in Brazil
(industrial stagnation and higher
inflation).
Brazilian Consumption Evolution (TWh)
5.0% p.a. • For the next years, the good performance
of domestic market and the perspectives
3.6% 515
4.0% p.a. 493 of higher investments are factors
469 indicating that the Brazilian economy will
444
423 recover the growth path observed before
408
369
380 376 the global crisis.
349
• Brazil will also benefit from the growth of
emerging markets, with impact on
exports of primary products.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
12
1 - Source: EPE (Energetic Research Company) / ONS (National System Operator) – Second Review – september/11
13. Energy sector in Brazil:
supply perspectives
Installed Energy Capacity in Brazil1
Total installed capacity is expected to reach 171 GW by 2020
Brazilian energy matrix will present higher diversification, but in the next 10 years hydropower plants will
continue to prevail
2011: 115 GW 2020: 171 GW
2
SHPP: 4%
Natural gas: 7%
2
SHPP: 4%
Biomass: 5%
Natural gas: 8%
Biomass: 5% Oil: 5%
Oil: 3% Nuclear: 2%
Nuclear: 2% Others: 17% Coal: 2%
Hydro: 67% Diesel: 1%
Others: 10%
Hydro: 73% Coal: 2%
Diesel: 1%
Wind: 7%
Wind: 1%
Steam: 1% Steam: 0%
1- Source: EPE (Energetic Research Company), Ten-year Energy Plan 2020, May/2011 2 - Small Hydro Power Plant
13
14. Energy sector in Brazil:
regulatory methodology
Tariff Reset and Readjustment
• Tariff Reset is applied each 4 years for AES Eletropaulo
− Base date: Jul/2011 • Parcel A Costs
− Parcel A: costs are largely passed through to the tariff Energy − Non-manageable costs that are largely
Purchase passed through to the tariff
− Parcel B: costs are set by ANEEL Transmission
− Incentives to reduces costs
Sector Charges
• Tariff Readjustment: annually
− Parcel A : costs are largely passed through to the tariff
Regulatory
− Parcel B: cost are adjusted by IGPM +/- X(1) Factor Opex • Regulatory Opex:
(PMSO)
– Efficient operating cost determined by
ANEEL (National Electricity Agency)
X WACC Investment
Remuneration
• Remuneration Asset Base:
Remuneration
Asset Base – Prudent investments used to calculate
the investment remuneration (applying
X Depreciation WACC) and depreciation
Depreciation
Regulatory Parcel A - Non-Manageable Costs
Ebitda
Parcel B - Manageable Costs 14
1 – X Factor: index that captures productivity gains
15. Energy sector in Brazil:
regulatory methodology
3rd Cycle of Tariff Reset – X Factor
X FACTOR Pd Q T
= + +
Distribution Operational expenses
DEFINITION Quality of service
productivity trajectory
To capture To stimulate the To implement operational
OBJECTIVE productivity gains improvement of the expenses trajectory during
with distribution service quality the tariff cycle
Defined at tariff reset,
considering the Defined at each tariff Defined at tariff reset,
average productivity of readjustement, considering the
sector adjusted by the according to the expenses established by
APPLICATION market growth and variation of SAIDI and reference company and
variation of consumer SAIFI and comparative benchmarking
units of the distributor performance of discos methodologies 15
since last reset
16.
17. AES Tietê Overview
Generation facilities
17 hydroelectric plants operating within the states of
São Paulo and Minas Gerais
30-year concession valid until 2029; renewable for
another 30 years
Installed capacity of 2,659 MW, with physical guarantee1
of 1,280 MW average
Almost all the amount of energy that AES Tietê can sell
in the long term is contracted to AES Eletropaulo until
the end of 2015
AES Tietê can invest in generation, its main activity, and
operate in energy trading
355 employees
17
1 - Amount of energy allowed to be long term contracted
18. Generated energy shows high
operational availability
Generated energy (MW avarage1) Generated energy by power plant (MW avarage1)
130%
125%
124%
4% Água Vermelha
118% 10%
Bariri
Barra Bonita
8%
Euclides da Cunha
6% 58% Ibitinga
1,665
1,599 3% Nova Avanhandava
1,582
5% Promissão
1,512
6% Other Power Plants*
2008 2009 2010 2011
Generation - Mw avg Generation/Physical guarantee
1 – Generated energy divided by the amount of hours * Caconde, Limoeiro, Mogi and SHPPs 18
19. A significant amount of billed energy and net
revenues comes from the bilateral contract with
AES Eletropaulo
Energy Billed (GWh) Net Revenues (%)
94%
94%
14,706 14,729 15,122
13,148 554
117 117 301 301
331
1,1501,150 1,340 1,340 1,519
331
2,3312,331 215
1,980
1,680
1,680 1,980 346 1,942
1,135
1,188
1,554
1,535
11,138 11,108 11,108 11,108 1%
11,138 11,108 11,108
8,578 1% 3%
8,045 2% 2% 3%
AES Eletropaulo
Other bilateral contracts
20081 2009 2010 2011
2008 2009 2010 9M10 9M11
Spot Market
AES Eletropaulo MRE2 Spot Market Other bilateral contracts
1 – Leap Year 2 – Energy Reallocation Mechanism MRE 19
20. Investments in the modernization of Nova
Avanhandava, Ibitinga and Caconde
power plants
Investments (R$ million) 2011 Investments
175
19 85%
82
59 56 174
12 156
13 4% 11%
20
70
39 43
2008 2009 2010 2011 2012(e)
Equipment and Modernization
Investments New SHPPs* New SHPPs*
IT Projects
*Small Hydro Power Plants 20
21. Growth opportunities
Perspectives
• Project features
- Combined cycle using natural gas
- Estimated investment of R$ 1.1 billion
- Natural gas consumption: 2.5 million m3/day
- 550 MW of installed capacity
• Updates
- Environmental license obtained on October, 20th 2011
(valid for 5 years)
- Gas unavailability for A-5 in 2011 and A-3 Energy
Auction in 2012
• Next events
- Get the installation license
- Obtain gas supply in order to:
- Participate in the next auctions; or
- Evaluate energy offering in the free market
21
23. Practice of total net income distribution on
quarterly basis*
Net Income and Dividend Pay-out1 (R$ million)
117%
110% 109%
100%
12% 11% 11% 11%
706 737
31
692 816 784 845
(74) (78)
(36)
2008 2009 2010 2011
Pay - out Yield Pref Recurring Non- recurring IFRS Effect
1 – Gross value
(*) 2009, 2010 and 2011 numbers in IFRS
23
24. Debt profile
Net Debt (R$ billion) Amortization Schedule – Principal (R$ million)
0.3x 0.3x 0.3x 0.3x
300 300 300
0.5
0.4 0.4 0.4
2008 2009 2010 2011 2013 2014 2015
Dívida Líquida Net Debt / EBITDA
• December, 2011:
– Average debt cost in 2011 was 115% of CDI1 p.a. or 15% p.a.
– Average debt maturity of 2.6 years
24
1 – Brazilian Interbank Interest Rate
25. Capital Markets
AES Tietê X Ibovespa X IEE Daily Avg. Volume (R$ thousand)
12 Months 1
140
130
+ 22%
17,980
+ 21% 13,922 12,970
120
+ 11%
110 10,187 4,344
+ 4%
100 4,239
-2% 3,397
90 2,101
80 13,635
8,086 9,683 9,573
70
60
Feb-11 May-11 Aug-11 Nov-11 Feb-12 2009 2010 2011 YTD Feb/12
Ibovespa IEE² GETI4 TSR³ GETI3
Preferred Common
• Market Cap4: R$ 9.1 billion
• BM&FBovespa: GETI3 (common shares) and GETI4 (preferred shares)
• ADRs negotiated in US OTC Market: AESAY (common shares) and AESYY
(preferred shares)
1 – Index: 02/28/2011 = 100 2 – Electric Energy Index 3 – Total Shareholders’ Return 4 – Index: 02/29/2012 25
26.
27. AES Eletropaulo overview
Concession Area
Largest electricity distribution company in Latin America
Serving 24 municipalities in the São Paulo Metropolitan area
Concession contract valid until 2028; renewable for another 30
years
Concession area with the highest GDP in Brazil
45 thousand kilometers of lines and 6.3 million consumption
units in a concession area of 4,526 km2
Total distributed volume of 45 TWh in 2011
AES Eletropaulo, as a distribution company, can only invest in
assets within its concession area
5,668 employees
27
28. Consumption evolution
Total Market1 (GWh) 2011 Consumption by Class (%)
6% 9
14
14%
45,102
43,345 36% 26
41,243 41,269
8,284
7,911
7,383 6,832 18% 43
26% 28
17
34,436 35,434 36,817
33,860
36
26
2008 2009 2010 2011 Brazil AES Eletropaulo
Captive Market Free Clients
Residential Commercial Industrial Others
28
1 – Net of own consumption
29. Industrial class
Industrial class X industrial production in São Paulo State
15%
10%
5% • Industrial consumption is
0% influenced by manufacturing
-5% industry performance in São Paulo
-10% Economic crisis Economic recovery State
-15%
Dec/11 • Recent slowdown is influenced by
Jul/07 Aug/08 Sep/09 Oct/10 Nov/11
Industrial Production of SP (% 12 months) Industrial (% 12 months) the decrease of industrial
Consumption of industrial class by activity – AES Eletropaulo production in 2011
• Moreover, the migration of clients
to other regions of São Paulo State
and of the country negatively
Vehicles,
Other industries
Chemical, Rubber,
Plastic and Metal
impacts this class
50%
products
50%
29
30. Residential class
Residential class X Average income in São Paulo Metropolitan Area
1,800 4,800
•
Average Income R$ - SP (q-2¹)
Residential class is influenced by
Residential (GWh)
income in São Paulo Metropolitan
1,600 4,300
Area
1,400 3,800 • Maintenance of the income
expansion trend in São Paulo
1,200 3,300
Metropolitan Area will sustain
1,000 2,800
growth of residential class
4Q11
1Q06 3Q06 1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11
• Average annual growth (2003-
Avg Real Income R$ - SP (q-2¹) Residential (GWh)
2011):
Consumption per consumer (in kWh)
– total residential market: 5.5%
y.y.
- 9.4%
258 – consumption per consumer:
2.1% y.y.
229 234
223 228
219 Consumption per consumer is
220 213
203 207
199 still 9.4% lower than in
192
the period before the rationing
1 - Two quarters of delay in relation to consumption 30
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
31. Investments amounted
R$ 739 million in 2011
Investments Breakdown (R$ million) Investments 2011 (R$ million)
841 227
739 46
682 22 172
55
28
22
516 39
457 35
37
189
47
794
717
654
478
410 Maintenance
Client Service
System Expansion
Losses Recovery
2008 2009 2010 2011 2012(e)
IT
Capex Paid by Customers Paid by the Clients
Others
31
32. SAIDI & SAIFI
SAIDI - System Average Interruption Duration Index SAIFI - System Average Interruption Frequency Index
7.87
8.41 7.39
6.93
10.92
10.09
9.32
8.68
9.20 11.86 10.60
10.36
5.20 6.17 5.43 5.45
2008 2009 2010 2011 2008 2009 2010 2011
5th 8th 7th 6th 1st 7th 3rd 4th
SAIDI (hours) SAIDI Aneel Reference SAIFI (times) SAIFI Aneel Reference
ABRADEE ranking position among the 28 utilities with more than 500 thousand customers
► 2012 SAIDI ANEEL Reference: 8.67 hours ► 2012 SAIFI ANEEL Reference: 6.87 times
Sources: ANEEL, AES Eletropaulo and ABRADEE
32
33. Operational Indexes
Losses (%) Collection Rate (% over Gross Revenues)
11.6 11.8
10.9 10.5 102.4 102.1
101.1
98.5
5.1 5.3 4.4 4.0
6.5 6.5 6.5 6.5
2008 2009 2010 2011 2008 2009 2010 2011
Technical Losses¹ Commercial Losses
ANEEL References:
From Jul/09 to Jun/10: 12.32% From Jul/10 to Jun/11: 12.45%
33
1 – Current technical losses used retroactively as a reference
34. “Creating Value” Project
Internal process review:
(i) operating activities; (ii) support functions Objective: to operate
Target definition for productivity within the regulatory
increase
framework for
Reassess organization structure
operational costs,
Review supply management and seek benchmark
position in the
Reassess and reinforce non-technical
losses initiatives sector
34
40. Commitment with sustainability
Our Commitment with Sustainability
We act as a transformer agent understanding, meeting and anticipating our customers electric power needs with safe and
innovative solutions for the economic, environmental and social development of the communities in which we are present.
40
41. Commitment with sustainability
SUSTAINABLE ENERGY INNOVATION IN PRODUCTS EFFICIENCY IN THE USE OF DEVELOPMENT & VALUATION
SAFETY
GENERATION AND SERVICES RESOURCES OF COWORKERS, SUPPLIERS
AND COMMUNITIES
... means an attitude of ... means using ... means providing an ... means allocating ...means knowing,
protection of our economic, social and environment and them in such a manner involving in a
coworkers, suppliers environmental culture that inspire that balanced and transparent form and
and of the population. resources in a balanced solutions that improve perennial results are positively influencing
fashion, preserving the people’s life, ensuring ensured for all our coworkers,
present time and quality and excellence stakeholders, abiding by suppliers and
ensuring the future in the services rendered the values practiced by communities to build a
to the customer. the company collective agenda that
generates value for
everyone
TRANSVERSAL THEMES
Communication
Stakeholders active
Education for sustainability Knowledge
participation
Transversal Information
Themes
To learn more access: www.aesbrasilsustentabilidade.com.br
41
42. Social Responsibility: Main Projects
Development and transformation of communities
Education, culture “Casa de Cultura e Cidadania” Project
and sport
Offers activities in culture and sports, courses, workshops and
lectures. Directly benefits approximately 5.6 thousand children
and teenagers and, indirectly, 290 thousand people in 7 units
located within AES Brazil companies’ area of operation.
Children education and development
“Centros Educacionais Luz e Lápis” Project
Two units in São Paulo attending 320 children from 1 to 6 years old, in social
vulnerability.
42
43. Social Responsibility: Main Projects
Converting Consumers to Clients
A project developed to work on electrical network regularization.
Since 2004, more than 500 thousand families in low income
communities were benefited from better energy supply conditions
and social inclusion.
Education about Safety and Efficiency in energy consumption
“AES Eletropaulo nas Escolas” Project
Education about safe and efficient use of energy to 4.5 thousand teachers and 404 thousand
students from 900 public schools, between 2010 and 2011. The actions include recreational
activities offered in adapted trucks.
43
45. Costs and Expenses
Costs and operational expenses1 (R$ million)
415 433 420
351
187 174
112 201
239 214 246 245
2008 2009 2010 2011
Energy Purchase, Transmission and Connection Charges, and Water Resources
Other Costs and Expenses 2
1 – Do not include depreciation and amortization 2 - Personnel, Material, Third Party Services and Other Costs and Expenses 45
46. Costs and Expenses
Costs and operational expenses1 (R$ million) PMS2 and Other Expenses (R$ million)
1,306 1,255 1,272
6,961 1,193
6,745
6,431 254 138
165
5,893 1,272
1,255 379
1,306
1,193
352 443 513
329
5,490 5,689
4,700 5,125
700 647 622
485
2008 2009 2010 2011 2008 2009 2010 2011
Energy Supply and Transmission Charges
PMS² and Others Expenses Personnel and Payroll Material and Third Party Others
1 – Do not include depreciation and amortization
2 - Personnel, Material, Third Party Services and Other Costs and Expenses 46
47. Action Plan: R$ 242 million in 2011-2012
increase of 212 emergency teams, totalizing 353 teams trained to
perform attendances in powered grid
hiring and training of 580 maintanance and construction electricians
hiring of 30 additional prunning electricians
Concluded in
2011 38% increase in call center positions (150 positions)
doubling of SMS receipt capacity to 100 thousand / day
increase of call center service capacity by 27 times from 2 thousand to
54 thousand calls / hour
300 additional stand-by positions in call center for emergency
situations
December/11
increase of 120 emergency teams, totaling 473 teams
to March/12
47
48. AES Tiete's expansion obligation
Privatization Notice Judicial Notice: AES Tietê was
established the Aneel informed summoned to answer a São Paulo State
The Company was notified
obligation to expand the that the issue is Lawsuit filed by the Supreme Court Efforts being made
by the State of São Paulo
installed capacity in not related to State of São Paulo, rejected AES Tietê’s
Attorney's Office to present by the Company to
15% (400 MW) until the concession which requested the appeal. The
its understanding on the
2007, either in agreement and fulfillment of the grounds for the meet the obligation :
matter, having filed its
greenfield projects must be obligation in 24 months. denial and the
response on time, the
and/or through long addressed with proceedings were ended, An injunction was contents of the • Long-term energy
term purchase the State of São since no other action was granted in order to have decision have not
contracts (biomass)
agreements with new Paulo taken by the Attorney's a project submitted yet been disclosed.
plants Office within 60 days. totaling an average of
10 MW
• SHPP São Joaquim
- started operating in
1999 2007 Aug/08 Oct/08 Jul/09 Sep/10 Sep/11 Nov/11 Feb/12 July, 2011, with 3 MW
of installed capacity
• SHPP São José –
under construction,
Company faces restrictions until
Popular Action: with 4 MW of installed
deadline: In response to a Popular Lawsuit:
Due to the plaintiffs failure
• Insufficiency of hydro resources Action (filed by to specify the persons that The Company capacity, expected to
• Environmental restrictions individuals against the should be named as appealed to the be operational in 1H12
Federal Government, Defendants, a favorable State of Sao
• Insufficiency of natural gas supply Aneel, AES Tietê and decision was rendered by Paulo State Court • Thermo-SP - Project
• New Model of Electric Sector (Law # Duke), the Company the first Instance Court of Appeals and
10,848/2004), which forbids bilateral presents its defense the injunction was of a 550MW gas fired
(an appeal has been filed)
agreements between generators and before the first instance stayed thermal plant
distributors
48
49. Eletrobras Lawsuit
State-owned
Eletropaulo was
spun-off into four Eletrobras, after On July 7, the Next Steps:
companies and, winning the judge determined
Eletrobras and Eletrobras 1 - The auditing
Stated-owned according to our interest Eletropaulo and
CTEEP appealed requested the 1st procedure (AP)
Eletropaulo understanding calculation CTEEP to present
to the Superior level of court is expected to
borrowed money based on the discussion, filed their
Court of Justice judge to appoint begin by the 1st
from Eletrobras spin-off an Execution Suit considerations,
(SCJ) an expert half of 2012
agreement, the to collect the due which occurred in
discussion was amount August 2 – AP is
transferred to expected to be
CTEEP concluded in at
least 6 months
3 - After AP’s
conclusion, a
1st level court
decision will be
Nov/86 Dec/88 Jan/98 Apr/98 Sep/01 Sep/03 Oct/05 Jun/06 May/09 Dec/10 Jul/11 released
4 - Appealing to
the 2nd instance
court
5 - Foreclosure
starts.
Presentation of
State-owned
The 2nd level of Eletrobras guaranty
Eletropaulo and Privatization requested the
court excluded The SCJ decided
Eletrobras event . State- 6 - Request to
AES Eletropaulo to send the beginning of the
disagreed on how owned withdraw the
from the Execution Suit appraisal
to calculate Eletropaulo guaranty
discussion based back to the 1st procedure, which is
interest over that became AES under 1st. instance 7 - Appeals to
on the spin-off level of court
loan and a lawsuit Eletropaulo court analysis the 3rd instance
agreement
was started courts
49
50. Shareholders Agreement
On Dec 2003 AES and BNDES signed a Shareholders’ Agreement to regulate their relationship as shareholders of
Brasiliana and its controlled companies. The Agreement is available at www.aeseletropaulo.com.br/ri
Shareholders can dispose its share at any time, considering the following terms:
Right of 1st Any party with an intention to dispose its shares should first provide the other party the right to buy
refusal that participation at the same price offered by a third party
Tag along In the case of change in Brasiliana’s control, tag along rights are triggered for the following
rights companies (only if AES is no longer controlling shareholder):
– AES Eletropaulo: Tag along of 100% in its common and preferred shares
– AES Tietê: Tag along of 80% in its common shares
– AES Elpa: Tag along of 80% in its common shares
Drag along Once the offering party exercises the Drag Along clause, offered party is obligated to dispose of all
rights its shares at the time, if the Right of 1st Refusal is not exercised by offered party
50
51. Brazilian Main Taxes
AES Tietê
AES Eletropaulo
• Income Tax / Social Contribution:
• Income Tax / Social Contribution:
– 34% over taxable income
– 34% over taxable income
• ICMS (VAT tax) • ICMS: 22% over Revenue (average rate)
– deferred tax – Residential: 25%
• PIS/Cofins (sales tax): – Industrial and Commercial: 18%
– Eletropaulo s PPA: 3.65% over Revenue – Public Entities: free
– Other bilateral contracts: 9.25% over Revenue • PIS/Cofins:
minus Costs – 9.25% over Revenue minus Costs
51
52. Contacts:
ri.aeseletropaulo@aes.com
ri.aestiete@aes.com
+ 55 11 2195 7048
The statements contained in this document with regard to the business prospects, projected operating and financial
results, and growth potential are merely forecasts based on the expectations of the Company’s Management in
relation to its future performance. Such estimates are highly dependent on market behavior and on the conditions
affecting Brazil’s macroeconomic performance as well as the electric sector and international market, and they are
therefore subject to changes.