The document provides an overview of the Brazilian energy market and highlights for CPFL Energia:
1) The Brazilian energy market is concentrated among a few large players and state-owned entities still dominate generation assets. CPFL Energia has a 13% share of the distribution market and 2% of generation.
2) CPFL Energia is Brazil's largest private distributor and focuses on operational efficiency and acquiring smaller distributors. It is also growing its generation portfolio through new projects.
3) CPFL Energia aims to capture synergies across its business segments and reduce delinquencies while expanding its installed generation capacity and customer base.
2009 Brazil Equity Ideas Conference - Credit Suisse*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
CPFL Energia is Brazil's largest private distributor and generator of electricity. Over the past 4 years since its IPO, it has grown significantly through acquisitions and investments totaling over $1 billion. Its distribution business serves over 13% of the Brazilian market, while its generation portfolio has nearly doubled in capacity. Going forward, CPFL Energia plans to continue expanding organically and through M&A, with a planned $5 billion in investments over the next 5 years to further consolidate its position as a leading player in Brazil's energy market.
World Federation of Investors Corporations Congress *CPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, the largest private company in the sector.
The key points are:
1) The Brazilian energy market is concentrated among a few large players and state-owned companies control 70% of generation assets and 34% of the market share.
2) CPFL Energia is the largest private company in distribution and commercialization with a 13% market share. It has expanded significantly through acquisitions in recent years.
3) CPFL Energia has a 100% hydroelectric generation portfolio with long-term contracts. It is expanding into biomass generation through its subsidiary CPFL Bioenergia.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference *CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its shares are included in important stock indexes.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through acquisitions and organic expansion. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a 23% market share in commercialization of electricity to free customers. CPFL Energia has consistently distributed 100% of its profits as dividends to shareholders and maintained a conservative capital structure and debt profile.
2009 Brazil Equity Ideas Conference - Credit Suisse*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
CPFL Energia is Brazil's largest private distributor and generator of electricity. Over the past 4 years since its IPO, it has grown significantly through acquisitions and investments totaling over $1 billion. Its distribution business serves over 13% of the Brazilian market, while its generation portfolio has nearly doubled in capacity. Going forward, CPFL Energia plans to continue expanding organically and through M&A, with a planned $5 billion in investments over the next 5 years to further consolidate its position as a leading player in Brazil's energy market.
World Federation of Investors Corporations Congress *CPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, the largest private company in the sector.
The key points are:
1) The Brazilian energy market is concentrated among a few large players and state-owned companies control 70% of generation assets and 34% of the market share.
2) CPFL Energia is the largest private company in distribution and commercialization with a 13% market share. It has expanded significantly through acquisitions in recent years.
3) CPFL Energia has a 100% hydroelectric generation portfolio with long-term contracts. It is expanding into biomass generation through its subsidiary CPFL Bioenergia.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference *CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its shares are included in important stock indexes.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through acquisitions and organic expansion. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a 23% market share in commercialization of electricity to free customers. CPFL Energia has consistently distributed 100% of its profits as dividends to shareholders and maintained a conservative capital structure and debt profile.
The document compares lifestyles and family standards from 100 years ago to modern times. In the early 20th century, the average life expectancy in the US was 47, most homes lacked bathtubs, and innovations like Scotch tape, iced tea, and antibiotics had yet to be invented. Family life was also very different, with large families living without modern plumbing. Health standards were lower as antibiotics and other medical advances had not yet been developed.
Presented by Eduardo A. Vasconcellos
National Public Transport Association (ANTP), Brazil.
23rd June 2016
This talk summarises current mobility conditions and policy challenges in large Latin-American metropolitan areas. The presentation is structured in three main parts.
It will begin discussing key data on current mobility conditions – private and public transport means, financial and institutional characteristics, individual mobility conditions (mode used, cost, travel time, safety, comfort, accessibility), mobility consumptions (time, space, energy) and who generates and who endures the impacts of negative externalities (road safety, emissions and congestion). Most data come from urban mobility observatories led by ANTP (Brazil) and by the Development Bank of Latin America (CAF).
The second section proposes a comprehensive methodology to analyse urban mobility, combining technical, social, political and economic characteristics that helped to engender the high level of inequity and inefficiency observed in Latin American urban areas.
The third part analyses the existing political and economic barriers to the complex changes in the urban mobility patterns discussed before. It explores what could be proposed or implemented to improve the level of equity and efficiency on people’s mobility.
Presentation 1st annual citi brazil equity conferenceBraskem_RI
This presentation provides an overview of Braskem, the largest petrochemical company in Latin America. It discusses Braskem's key differentiators including its large scale of operations, regional strength in South America, and history of strong growth through organic expansion and acquisitions. The presentation reviews Braskem's financial and operational figures, leadership positions in key Brazilian resin markets, and technology leadership including being a global pioneer in green polymers. It also notes Braskem's consistent premium pricing over international resin prices due to various competitive advantages.
ALI - Brazil Private Equity (Parts 1 & 2)Eric Saucedo
The document summarizes recent positive economic trends in Brazil that make it an attractive market for private equity investment, despite past boom and bust cycles. GDP growth rebounded strongly in 2Q09 and Brazil has been less impacted by the global recession than other markets. Private equity deals and M&A activity have remained robust in Brazil while declining globally. Significant institutional capital from Brazilian pension funds is now being allocated to local private equity, representing an important difference from previous cycles. Major international private equity firms are increasingly active in Brazil due to opportunities to invest in and expand portfolio companies into the large and growing market.
Equity workshop: Equity and REDD+ in the mediaIIED
Equity and REDD+ in the media: A comparative policy discourse analysis.
A presentation by Monica Di Gregorio, Maria Brockhaus, Tim Cronin , Efrian Muharrom, Levania Santoso, Sofi Mardiah and Mirjam Büdenbender, CIFOR, CGIAR, University of Leeds, Thinking beyond the Canopy.
This presentation was given at the Expert Workshop on Equity, Justice and Well-being in Ecosystem Governance, held at the International Institute for Environment and Development (IIED) in London, March, 2015.
Distance learning in Brazil, access and equity demanding new skills and innov...Luciano Sathler
Distance learning in Brazil, access and equity demanding new skills and innovation. The Commonwealth of Learning Media Centre for Asia, September 2015.
The document summarizes information about the Brazilian state of Tocantins. It was created in 1988 and established its capital in Palmas in 1989. It has experienced rapid development through investments in infrastructure, education, agriculture, and more. The Court of Accounts of Tocantins implements transparency and participatory practices like training programs and public hearings to promote accountable governance.
Este documento é o relatório do 2o Censo Brasileiro da Indústria de Private Equity e Venture Capital. O relatório fornece um histórico da indústria no Brasil, descreve o ecossistema atual e analisa dados sobre captação de recursos e capital comprometido pelas organizações gestoras.
9 10.15am Challenges In Implementing A Performance Framework (P. Perczynski A...icgfmconference
Dr. Piotr Perczynski and Dr. Marta Postula discuss the challenges in implementing a performance framework through the Polish experience. The presentation highlights that there is no single international model for performance budgeting.
This document provides an overview of Brazil's culture, doing business environment, and macroeconomic situation. Some key points:
- Brazil has a diverse culture influenced by indigenous, Portuguese, African, and immigrant populations. Portuguese is the primary language.
- President Lula has pursued anti-poverty initiatives while maintaining fiscal responsibility. The political system is fragmented with weak parties.
- The economy has grown in recent years, with a solid banking sector and stock market. However, inflation and an appreciating currency have hurt competitiveness.
- Labor laws provide many benefits to employees but add significantly to business costs. Wealth and industry are unevenly distributed across Brazil's regions.
Determinants of the implied equity risk premium in BrazilFGV Brazil
This document summarizes a research paper that proposes and tests determinants of the implied equity risk premium (ERP) in Brazil. The paper calculates the ERP using current stock prices rather than historical returns. It finds several market fundamentals are significantly related to changes in the ERP, including changes in interest rates, debt risk spreads, US market liquidity, and the S&P 500 index level. The paper also compares using implied ERP versus historical averages and finds implied ERP varies with market events while historical averages do not.
Maker Faire Bay Area 2016 - Science, Technology, and Society & 'making': Br...rbsilva07
The document discusses Rodrigo Barbosa e Silva's experience with robotics education in Brazilian public schools from 2009-2012. It introduced robotics to around 24 elementary schools, reusing existing computer labs. This involved 120 Gogo Boards. The document also discusses some of the challenges of implementing robotics education in Brazilian schools, such as lack of support from the pedagogical team and lack of teacher confidence, as well as Silva's beliefs about how to improve technology education.
This document discusses the current political crisis in Brazil and outlines two potential scenarios for the future of urban transport. It provides historical context on Brazil's government from 1964 to present. Currently, there is a divide between supporters of former presidents Lula and Dilma versus right-wing populists. This presents a bifurcation point that could lead to one side dominating in the medium term. The two scenarios presented would have different impacts on transport policies and access to resources based on wealth. Transport researchers must consider how their work could be influenced by the outcome and choose definitions of equity and social justice that fit the specific Brazilian context.
This document summarizes a study on a Brazilian public-private partnership program called ProUNI that provides scholarships for unqualified teachers to obtain teaching credentials from for-profit higher education institutions. The study found that while the teachers expressed a strong motivation to complete their training, they had neutral perceptions of program quality and reported a lack of retention efforts. The implications are that teacher education may need to move towards longer internship models like medical residencies to improve quality and that innovation is needed to accelerate closing global education gaps.
Cost and equity implications of integrating sticks and carrots in conservatio...CIFOR-ICRAF
This presentation by Jan Börner (University of Bonn, CIFOR), Eduardo Marinho (CIFOR), and Sven Wunder (CIFOR) discusses the necessity of integrating incentive-based policies into traditional command-and-control strategies to create a sustainable conservation model.
O documento descreve o processo de formação das estrelas a partir de nuvens de gás e poeira interestelar. As estrelas nascem por contração gravitacional dessas nuvens e brilham por milhões ou bilhões de anos até morrerem, originando novas gerações de estrelas.
O documento discute a importância da reflexão sobre o futuro do Brasil e do mundo diante dos modelos insustentáveis de produção e consumo. Aborda também os principais biomas brasileiros e as questões socioambientais contemporâneas, como as reuniões do Rio+20 e as COPs sobre mudanças climáticas.
O documento discute diversas fontes de energia renováveis e não renováveis, incluindo energia hidrelétrica, eólica, solar, biomassa, geotérmica, nuclear e gravitacional. Ele também aborda os impactos ambientais da energia nuclear e a importância de se utilizar as energias de forma consciente para garantir o suprimento futuro.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
The document compares lifestyles and family standards from 100 years ago to modern times. In the early 20th century, the average life expectancy in the US was 47, most homes lacked bathtubs, and innovations like Scotch tape, iced tea, and antibiotics had yet to be invented. Family life was also very different, with large families living without modern plumbing. Health standards were lower as antibiotics and other medical advances had not yet been developed.
Presented by Eduardo A. Vasconcellos
National Public Transport Association (ANTP), Brazil.
23rd June 2016
This talk summarises current mobility conditions and policy challenges in large Latin-American metropolitan areas. The presentation is structured in three main parts.
It will begin discussing key data on current mobility conditions – private and public transport means, financial and institutional characteristics, individual mobility conditions (mode used, cost, travel time, safety, comfort, accessibility), mobility consumptions (time, space, energy) and who generates and who endures the impacts of negative externalities (road safety, emissions and congestion). Most data come from urban mobility observatories led by ANTP (Brazil) and by the Development Bank of Latin America (CAF).
The second section proposes a comprehensive methodology to analyse urban mobility, combining technical, social, political and economic characteristics that helped to engender the high level of inequity and inefficiency observed in Latin American urban areas.
The third part analyses the existing political and economic barriers to the complex changes in the urban mobility patterns discussed before. It explores what could be proposed or implemented to improve the level of equity and efficiency on people’s mobility.
Presentation 1st annual citi brazil equity conferenceBraskem_RI
This presentation provides an overview of Braskem, the largest petrochemical company in Latin America. It discusses Braskem's key differentiators including its large scale of operations, regional strength in South America, and history of strong growth through organic expansion and acquisitions. The presentation reviews Braskem's financial and operational figures, leadership positions in key Brazilian resin markets, and technology leadership including being a global pioneer in green polymers. It also notes Braskem's consistent premium pricing over international resin prices due to various competitive advantages.
ALI - Brazil Private Equity (Parts 1 & 2)Eric Saucedo
The document summarizes recent positive economic trends in Brazil that make it an attractive market for private equity investment, despite past boom and bust cycles. GDP growth rebounded strongly in 2Q09 and Brazil has been less impacted by the global recession than other markets. Private equity deals and M&A activity have remained robust in Brazil while declining globally. Significant institutional capital from Brazilian pension funds is now being allocated to local private equity, representing an important difference from previous cycles. Major international private equity firms are increasingly active in Brazil due to opportunities to invest in and expand portfolio companies into the large and growing market.
Equity workshop: Equity and REDD+ in the mediaIIED
Equity and REDD+ in the media: A comparative policy discourse analysis.
A presentation by Monica Di Gregorio, Maria Brockhaus, Tim Cronin , Efrian Muharrom, Levania Santoso, Sofi Mardiah and Mirjam Büdenbender, CIFOR, CGIAR, University of Leeds, Thinking beyond the Canopy.
This presentation was given at the Expert Workshop on Equity, Justice and Well-being in Ecosystem Governance, held at the International Institute for Environment and Development (IIED) in London, March, 2015.
Distance learning in Brazil, access and equity demanding new skills and innov...Luciano Sathler
Distance learning in Brazil, access and equity demanding new skills and innovation. The Commonwealth of Learning Media Centre for Asia, September 2015.
The document summarizes information about the Brazilian state of Tocantins. It was created in 1988 and established its capital in Palmas in 1989. It has experienced rapid development through investments in infrastructure, education, agriculture, and more. The Court of Accounts of Tocantins implements transparency and participatory practices like training programs and public hearings to promote accountable governance.
Este documento é o relatório do 2o Censo Brasileiro da Indústria de Private Equity e Venture Capital. O relatório fornece um histórico da indústria no Brasil, descreve o ecossistema atual e analisa dados sobre captação de recursos e capital comprometido pelas organizações gestoras.
9 10.15am Challenges In Implementing A Performance Framework (P. Perczynski A...icgfmconference
Dr. Piotr Perczynski and Dr. Marta Postula discuss the challenges in implementing a performance framework through the Polish experience. The presentation highlights that there is no single international model for performance budgeting.
This document provides an overview of Brazil's culture, doing business environment, and macroeconomic situation. Some key points:
- Brazil has a diverse culture influenced by indigenous, Portuguese, African, and immigrant populations. Portuguese is the primary language.
- President Lula has pursued anti-poverty initiatives while maintaining fiscal responsibility. The political system is fragmented with weak parties.
- The economy has grown in recent years, with a solid banking sector and stock market. However, inflation and an appreciating currency have hurt competitiveness.
- Labor laws provide many benefits to employees but add significantly to business costs. Wealth and industry are unevenly distributed across Brazil's regions.
Determinants of the implied equity risk premium in BrazilFGV Brazil
This document summarizes a research paper that proposes and tests determinants of the implied equity risk premium (ERP) in Brazil. The paper calculates the ERP using current stock prices rather than historical returns. It finds several market fundamentals are significantly related to changes in the ERP, including changes in interest rates, debt risk spreads, US market liquidity, and the S&P 500 index level. The paper also compares using implied ERP versus historical averages and finds implied ERP varies with market events while historical averages do not.
Maker Faire Bay Area 2016 - Science, Technology, and Society & 'making': Br...rbsilva07
The document discusses Rodrigo Barbosa e Silva's experience with robotics education in Brazilian public schools from 2009-2012. It introduced robotics to around 24 elementary schools, reusing existing computer labs. This involved 120 Gogo Boards. The document also discusses some of the challenges of implementing robotics education in Brazilian schools, such as lack of support from the pedagogical team and lack of teacher confidence, as well as Silva's beliefs about how to improve technology education.
This document discusses the current political crisis in Brazil and outlines two potential scenarios for the future of urban transport. It provides historical context on Brazil's government from 1964 to present. Currently, there is a divide between supporters of former presidents Lula and Dilma versus right-wing populists. This presents a bifurcation point that could lead to one side dominating in the medium term. The two scenarios presented would have different impacts on transport policies and access to resources based on wealth. Transport researchers must consider how their work could be influenced by the outcome and choose definitions of equity and social justice that fit the specific Brazilian context.
This document summarizes a study on a Brazilian public-private partnership program called ProUNI that provides scholarships for unqualified teachers to obtain teaching credentials from for-profit higher education institutions. The study found that while the teachers expressed a strong motivation to complete their training, they had neutral perceptions of program quality and reported a lack of retention efforts. The implications are that teacher education may need to move towards longer internship models like medical residencies to improve quality and that innovation is needed to accelerate closing global education gaps.
Cost and equity implications of integrating sticks and carrots in conservatio...CIFOR-ICRAF
This presentation by Jan Börner (University of Bonn, CIFOR), Eduardo Marinho (CIFOR), and Sven Wunder (CIFOR) discusses the necessity of integrating incentive-based policies into traditional command-and-control strategies to create a sustainable conservation model.
O documento descreve o processo de formação das estrelas a partir de nuvens de gás e poeira interestelar. As estrelas nascem por contração gravitacional dessas nuvens e brilham por milhões ou bilhões de anos até morrerem, originando novas gerações de estrelas.
O documento discute a importância da reflexão sobre o futuro do Brasil e do mundo diante dos modelos insustentáveis de produção e consumo. Aborda também os principais biomas brasileiros e as questões socioambientais contemporâneas, como as reuniões do Rio+20 e as COPs sobre mudanças climáticas.
O documento discute diversas fontes de energia renováveis e não renováveis, incluindo energia hidrelétrica, eólica, solar, biomassa, geotérmica, nuclear e gravitacional. Ele também aborda os impactos ambientais da energia nuclear e a importância de se utilizar as energias de forma consciente para garantir o suprimento futuro.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity has increased 106% to over 2,100 MW through acquisitions and new projects.
- Total capex over the period was over R$5 billion, including R$1.1 billion spent on acquisitions.
- As a result of acquisitions and organic growth, revenues have increased over 25% and net income has more than doubled.
- The stock performance has significantly outperformed major indices since the IPO, with shares up over 130% on Bovespa and over 200% on the NYSE.
CPFL Energia is Brazil's largest private distributor and generator of electricity. Over the past 4 years since its IPO, CPFL Energia has grown significantly through acquisitions totaling R$1.1 billion, including 5 distribution companies, stakes in 9 small hydroelectric plants, and stakes in larger hydroelectric plants. CPFL Energia has also increased its installed generation capacity by over 25% through new projects and repowering existing plants. Going forward, CPFL Energia plans to continue its growth strategy through ongoing distribution and generation investments totaling R$5 billion over the next 5 years.
CPFL Energia is Brazil's largest player in the distribution and commercialization of energy. The Brazilian energy market is concentrated in the most developed regions of the country which CPFL Energia operates in. Over the past 4 years since its IPO, CPFL Energia has grown organically and through acquisitions, increasing its scale and expertise in distribution, generation, and commercialization. It aims to continue this growth strategy through further acquisitions and expanding its generation portfolio.
World Federation of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
World Federation Of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across Brazil. In recent years CPFL has expanded its generation capacity through acquisitions and new projects, bringing its total installed capacity to over 1,700 MW with additional projects under construction. CPFL also operates in the biomass energy sector through its subsidiary CPFL Bioenergia.
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. Charts show trends in CPFL Energia's sales, EBITDA, net income, and breakdown of generation sources.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, a major player in the market.
The key points are:
1) The Brazilian energy market is concentrated among a few large companies and state-owned entities still control a significant portion of generation assets.
2) CPFL Energia is one of the largest private companies in distribution and commercialization and the 4th largest in generation. It has a diversifying portfolio following recent acquisitions.
3) CPFL Energia has a track record of growth and operational efficiency as seen in its expanding capacity, increasing earnings, and focus on renewable energy sources like biomass.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights for CPFL Energia, a major player within it. Some key points:
- The Brazilian energy market is concentrated among a few large companies and state-owned entities control around 70% of generation assets and 34% of the market share.
- CPFL Energia is the largest private company in distribution and commercialization in Brazil and the 4th largest generator, operating primarily in the southeast region.
- In recent years CPFL has expanded through acquisitions of distribution companies, generation plants, and stakes in other entities, totaling R$1.1 billion in investments.
The Brazilian electricity distribution market has 64 companies serving 63 million customers. In 2008, these companies distributed 393 terawatt-hours of energy. The top 5 distribution groups control 48% of the market, while state-owned companies make up 34% and private companies control 66% of the market. The document discusses market share breakdown and investment opportunities in Brazil's electricity distribution sector.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its ADRs trade on the NYSE.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has grown significantly since its IPO through both organic growth and acquisitions. It began with distribution operations in two Brazilian states serving over 5 million customers. Through acquisitions and expansion, it has added operations in two more states and now serves over 6 million customers across 568 municipalities with a distribution network of over 196,000 km. CPFL Energia has aggressively pursued a strategy of growth in distribution, generation, and energy commercialization.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through both organic expansion and acquisitions. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a leading commercialization market share of 23%. CPFL Energia has consistently delivered high EBITDA and net income growth while maintaining a conservative capital structure and paying substantial dividends to shareholders.
'12ª Conferência Anual América Latina - Santander (15 a 18-01-2008)'CPFL RI
CPFL Energia has grown aggressively since 1997 through acquisitions and investments in distribution, generation, and commercialization of electricity in Brazil. It is a leader in these sectors with over 13% of the distribution market share and operations across São Paulo, Rio Grande do Sul, Paraná and Minas Gerais states. Recent deals include purchases of stakes in distribution and generation companies to increase its installed capacity to over 2 GW by 2010.
CPFL Energia has grown significantly since its 1997 IPO through acquisitions and expanding its electricity distribution, generation, and commercialization businesses. It is now one of the largest players in Brazil's electricity sector with a 13.8% market share in distribution across 5 states. CPFL Energia's generation capacity has grown from 801 MW in 2000 to a projected 2,174 MW in 2010 through new power plants and acquisitions. The company has a focus on hydropower and small private plants.
Similar to Citi´s 17th Annual Latin America Conference* (20)
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, commercialization, and solutions and services. The distribution segment operates four concessions serving over 9 million customers. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL is pursuing operational efficiency initiatives across its business segments and has a strategic plan focused on growth through M&A and greenfield projects.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, and commercialization and services. The distribution segment operates four distribution companies serving over 9 million customers across Brazil. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL has a strategic plan focused on operational efficiency, portfolio optimization and growth.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, commercialization, and solutions and services. The distribution segment operates four concessions covering 687 cities with 9.7 million customers. The generation portfolio has over 4.3 GW of installed capacity from renewable sources. CPFL is pursuing operational efficiency initiatives across its business segments and has a strategic plan focused on productivity, growth, and sustainability.
The document provides an overview of CPFL Energia, a leading utility company in Brazil. Some key points:
- CPFL has a diversified portfolio including generation, transmission, distribution, and commercialization. It is the 2nd largest distribution company and 3rd largest private generator in Brazil.
- In 2018, CPFL had $6 billion in EBITDA from its various business segments. Generation and distribution accounted for the majority (57% and 22% respectively) of EBITDA.
- CPFL identifies five strategic pillars - differentiated governance, financial discipline, synergistic growth, sustainability, and operational efficiency. It aims to grow through both organic projects and M&A opportunities while maintaining financial discipline.
This presentation summarizes CPFL Energia's 1Q19 results. Key highlights include:
- EBITDA grew 12.1% to R$1,531 million due to higher revenue from distribution and commercialization & services segments.
- Net income increased 36% to R$570 million mainly from lower debt charges.
- Load in the concession area grew 1.9% with increases in the residential and commercial classes.
- Leverage was 2.70x, below the financial covenants criteria of 3.05x.
Apresentação de Resultados 1T19 - CPFL EnergiaCPFL RI
O documento apresenta os resultados financeiros da CPFL Energia no 1T19, destacando:
1) Crescimento de 12,1% no EBITDA em comparação com o 1T18;
2) Aumento de 36% no lucro líquido em relação ao mesmo período do ano anterior;
3) Investimentos de R$ 445 milhões realizados no trimestre.
1) CPFL Energia is one of the largest private electricity companies in Brazil, operating in distribution, generation, commercialization, and renewable energy.
2) In 2018, the company had EBITDA of R$5,637 million and a net income of R$2,166 million. It has over 9.6 million customers and 3,272 MW of installed generation capacity, 95% of which comes from renewable sources.
3) CPFL Energia has a diversified portfolio of generation assets including hydroelectric, wind, and solar plants. It is also developing new renewable projects and recently acquired transmission lines. The company aims to offer integrated energy solutions while maintaining operational efficiency.
O documento fornece um resumo da CPFL Energia, uma das maiores empresas privadas do setor elétrico brasileiro. Apresenta detalhes sobre suas operações nas áreas de distribuição, geração e comercialização de energia, além de seus planos de crescimento futuro focados em eficiência operacional, soluções integradas e geração distribuída.
- CPFL reported a 15.9% increase in EBITDA and 74.2% increase in net income for 2018 compared to 2017. Key drivers included tariff adjustments, lower debt costs, and compensation agreements.
- Energy sales grew 1.2% in 4Q18 and 2.5% for 2018, led by increases in the residential and industrial classes.
- CPFL Renováveis anticipated the commercial start-up of the Boa Vista II SHPP in November 2018 and won projects in the A-6 auction.
Apresentação de Resultados 4T18/2018 - CPFL EnergiaCPFL RI
O documento apresenta os resultados financeiros da CPFL Energia no quarto trimestre e ano de 2018, destacando aumentos de 15,9% no EBITDA anual e de 74,2% no lucro líquido anual, bem como investimentos de R$2,1 bilhões em 2018. Também ressalta aumentos na carga e vendas de energia na área de concessão e revisões tarifárias realizadas.
Corporate presentation cpfl energia nov2018 enCPFL RI
CPFL Energia is one of the largest private electricity companies in Brazil with operations in distribution, generation, commercialization, and services. In the last 12 months, it generated R$5.65 billion in EBITDA. It has over 5 million distribution customers, 3,283 MW of installed generation capacity (95% renewable), and is a leader in renewable energy in Brazil. CPFL Energia aims to increase operating efficiency through technology and innovation while strategically growing its business and creating value.
Corporate presentation cpfl energia nov2018 ptCPFL RI
A CPFL Energia é uma das maiores empresas privadas do setor elétrico brasileiro, atuando nos segmentos de distribuição, geração e comercialização de energia. A empresa possui 5 distribuidoras, 3.283 MW de capacidade gerada, sendo 95% de fontes renováveis, e é líder no mercado de comercialização de energia para clientes livres. A apresentação destaca os principais números financeiros e operacionais da CPFL Energia.
CPFL reported its 3Q18 results, highlighting increases in net operating revenue (+4.4%), EBITDA (+21.4%), and net income (+60.5%). Energy sales in the concession area grew 2.0% due to increases in the residential (+2.0%) and industrial (+2.4%) segments. Net debt was R$15.5 billion with a leverage ratio of 2.92x. The company won projects in the 28th energy auction, including the Cherobim SHPP (28 MW) and Gameleira Wind Complex (69.3 MW). CPFL also discussed its renewable generation projects totaling 127.2 MW of installed capacity by 2024 and provided an update on its
Apresentação de Resultados 3T18 - CPFL EnergiaCPFL RI
Este documento apresenta os resultados financeiros da CPFL Energia para o terceiro trimestre de 2018, destacando um crescimento de 4,4% na receita líquida e de 21,4% no EBITDA em comparação com o mesmo período do ano anterior. O documento também fornece detalhes sobre investimentos em novos projetos de geração renovável e sobre o programa CPFL Inova para conectar a empresa a startups.
CPFL Energia is one of the largest private electricity companies in Brazil with operations in distribution, generation, commercialization, and services. Some key points:
1) It has 5 distribution companies serving over 9.5 million customers and a market share of 14% in distribution.
2) In generation, it has over 3,283 MW of installed capacity, of which 95% comes from renewable sources like hydro.
3) It is the largest renewable energy company in Brazil and third largest private generator.
4) Other business segments include commercialization of electricity to free consumers and various technical and commercial services to clients.
A CPFL Energia é uma das maiores empresas privadas do setor elétrico brasileiro, atuando nos segmentos de distribuição, geração e comercialização de energia. Apresenta um perfil diversificado de ativos, com foco em fontes renováveis e presença nas regiões mais desenvolvidas do país. Sua estratégia visa a eficiência operacional, crescimento sustentável e atuação em assuntos regulatórios para garantir a sustentabilidade do setor elétrico.
- CPFL reported financial results for 2Q18 with net revenue growth of 16.5% and EBITDA growth of 33.3% compared to 2Q17.
- Key drivers included a 3.8% increase in energy demand, tariff increases, and the start-up of new renewable generation projects.
- Net debt was R$15.7 billion with leverage of 3.11x net debt/EBITDA, and the company secured R$3.4 billion in new funding.
Apresentação de Resultados 2T18 - CPFL EnergiaCPFL RI
Este documento apresenta os resultados financeiros da CPFL Energia no 2T18, destacando o crescimento de 16,5% na receita líquida e de 33,3% no EBITDA em relação ao mesmo período do ano anterior. Apresenta também indicadores operacionais das distribuidoras, vendas de energia, inadimplência, perfil da dívida e perspectivas para geração.
This document provides an overview of CPFL Energia, the largest integrated private electricity company in Brazil. Some key points:
- CPFL Energia has a market cap of R$23 billion and presence in distribution, generation, commercialization and services segments.
- In distribution, CPFL has 5 distributors serving 9.4 million customers. In generation, it has 3,283 MW of installed capacity, 95% from renewable sources.
- In 2017, EBITDA was R$5 billion, with distribution accounting for 49% and generation for 25%. Net income was R$1.4 billion.
- The company aims to increase efficiency through technology and innovation, pursue strategic growth through acqu
A apresentação institucional descreve a CPFL Energia como a maior empresa privada do setor elétrico brasileiro, com atuação nas áreas de distribuição, geração, comercialização e serviços. A empresa possui 5 distribuidoras, 3.283 MW de capacidade instalada de geração, com foco em fontes renováveis, e liderança no mercado de comercialização junto a consumidores livres. A estratégia da CPFL Energia inclui expansão orgânica e aquisições para crescimento sustentável.
2. Summary
Energy market overview
CPFL Energia – Highlights and Results
2
3. Brazilian market has 64 distribution’s companies
Market Share1 (%)
Distribution Business – 2007
CPFL Energia 13%
Distributors (#) 64
Brasiliana Energia 12%
Clients (million) 61 Cemig 9%
Distributed Energy (TWh) Neoenergia 8%
376.9
Copel 7%
EdB 6%
Market Breakdown
Celesc 5%
• The 5 largest groups have 50%
of market-share Ashmore Energy 4%
• State-owned companies: 34% Energisa 2%
• Private Company: 66% Others 35%
Spreading proposes consolidation opportunities
33 1) ANEEL – Ref. 1Q08 annualized (Recalculation of CPFL’s participation)
4. Brazilian market has 1,695 hydroelectric plants. The public sector
concentrates 70% of the assets
Market Share (%)
Generation Business – 1Q08
Chesf 10%
Hydroelectric plants (#) 1,695 Furnas 9%
Eletronorte 9%
Installed Capacity (MW) 108,852
Cesp 7%
Itaipu 7%
Cemig 6%
Market Breakdown Tractebel 6%
Copel 4%
• The 6 largest groups have 50%
Petrobrás 4%
of the market
AES Tietê 3%
• State-owned companies: 70% Duke 2%
• Private Company: 30% CPFL Energia 2%
Others 31%
4th largest private generation company in Brazil
44 Source: Aneel – last information available Market breakdown: Acende Brasil
5. Summary
Energy market overview
CPFL Energia – Highlights and Results
5
6. CPFL Energia – Highlights
• Brazilian’s largest player in distribution and commercialization
businesses
• Energy market is concentrated in the most developed regions of Brazil
(South/Southeast)
• CPFL is listed in the Novo Mercado in Bovespa and ADR level III in
NYSE
• Differentiated Dividend Policy: payment of 50% of the net income on a
semi-annual basis
• 100% hydraulic generation portfolio, with a strong growth in the
installed capacity in the last few years
• Long term generation and distribution concessions
• 5 distribution companies’ acquisition, 9 SPP’s and RGE’s stake (33%),
Foz do Chapecó HPP’s stake (11%) and Lajeado HPP’s stake (7%) in
the last 2 years, with a R$ 1.1 billion investment
• First company in the Brazilian electric sector to negotiate carbon
credits, through a run-of-stream HPP
• Constitution of CPFL Bioenergia, for investments in energy generation
from biomass
6
7. 7 1) Includes 0.2% of others 2) Aneel (estimated) Note: CPFL Jaguariúna will be maintened out of operation
8. CPFL Energia’s Investment Case join the current portfolio growth with acquisition
opportunities
• Operational efficiency focus
• Small distribution companies acquisition, strategically located
Distribution • Large distribution companies acquisition
• Cooperatives acquisition
• Private networks incorporation
• Projects’ conclusion
• SPP’s repowering, construction and acquisition
Generation
• Energy cogeneration through biomass
• Green field projects - Auctions
• Increasing in Value Added Services (VAS) and new products and services
Commercialization • New opportunities - clients between 0.5 and 3.0 MW, supplied by cogeneration or SPP’s
8
9. Focus on capturing synergies and optimization of levels of Group delinquencies
DISTRIBUTION
Delinquency1 – (%)
Consolidated
Delinquency Recovery² – R$ million
4Q07 4Q08
Amount sent to SPC (in R$) Amount recovered (in R$)
9 1) Receivables past due > 30 days - % of total Revenues – outstanding as at December 31 2008 2) Excluding CPFL Jaguariúna
10. Strong growth in the installed capacity and long term concessions in the generation
ventures
GENERATION
Installed Capacity (MW) 1%
26,7
Assured Energy (MWmedium) 9.3% 2,202
%
Concession Term 48.2
1,737 1,738
1,588
%
26,9
1,072 7.6%
812 854 915 40.2
%
861 862 1,093
800
434 472 525 571
2003 2004 2005 2006 20073 2008(e) 2009(e) 2010(e)
SPP’s CPFL Geração Monte Claro Barra Grande Campos Novos Castro Alves Foz do Chapecó
2027 2036 2036 2035 2036 2036
Serra da Mesa1 CPFL Sul2 Lajeado 14 de Julho
2028 2032 2036
SPP’s
CPFL Jaguariúna3
2015
(1) CPFL has the right of 51.54% of the Assured Energy until 2028 (2) Hydroelectric projects with installed capacity <= 1,000 kW are not eligible to concession
10 (3) Among the 9 SPP’s of CPFL Jaguariúna, 6 are in the situation mentioned in note 2 Note: Includes expected two SPP’s repowering in 2009
13. CPFL Energia is alert to the opportunities of business involving sugar cane biomass
GENERATION Business Model COMMERCIALIZATION
• High pressure boilers
CPFL invests in the
• Condensing turbines Energy purchased from biomass source to sell
generation-related
• Back pressure turbines in the free market
machinery…
• Substation and transmission
…and receives
the exceed
energy, for a
Energy supply
certain period
contract
Baldin Project – CPFL Bioenergia’s 1st project
• Contract signed: Aug 2008
Amount: over R$ 500 million Sold
• Construction of a sugar cane 100%
CPFL Contract period: 2009 to 2023
bagasse-fired thermoelectric Investment:
generation plant R$ 98 million
• Location: Pirassununga – SP
% of bioelectricity energy purchased in
• Expected operations: April 2010 CPFL Brazil contracts
13%
CPFL will have the right to 25 MW of energy exported 10%
during harvest season: 112 GWh/year
Current After the contract
13