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.
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.
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
'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.
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.
Citi´s 17th Annual Latin America Conference*CPFL RI
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.
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.
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
'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.
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.
Citi´s 17th Annual Latin America Conference*CPFL RI
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.
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.
ual JPMorgan Global High Yield Conference Presentationfinance13
This document provides an overview of UAL Corporation's performance in the fourth quarter of 2008. Some key points:
- UAL reported a pre-tax loss of $547 million for Q4 2008, excluding special items.
- Capacity reductions have positioned the company well for a downturn, with an 11.7% reduction in Q4 2008 capacity.
- Cost control efforts kept Q4 CASM excluding fuel flat year-over-year despite the large capacity cut.
- The company has taken aggressive actions to reduce capacity and costs in 2009 to deal with challenges.
The document discusses the Company's financial results for 1Q12. Net revenue increased 16.4% to R$161.4 million, while gross profit grew 19% to R$67.2 million. EBITDA was R$14.7 million, but excluding a non-recurring expense would have been R$22.7 million. Net income totaled R$10.9 million or R$16.1 million excluding the non-recurring impact. The company saw strong growth in owned stores and franchises as well as its brands, with an emphasis on expanding its distribution channels.
Aceds 2011 E Discovery Conference Brochure Seth Row VoucherSeth Row
This document advertises an e-Discovery conference hosted by ACEDS to be held from March 23-25, 2011 in Hollywood, Florida. The conference will provide training from 24 experts on best practices in e-Discovery, opportunities for networking, and hands-on demonstrations. Attendees will learn about topics like social media, cloud computing, budgeting strategies, and computer forensics. The conference is aimed at legal professionals, corporations, government agencies, and technology professionals working in e-Discovery.
Jefferies Global Healthcare Conference June 5 2013impax-labs
This document contains a "Safe Harbor" statement regarding forward-looking statements in the presentation. It notes several risks and uncertainties that could cause the company's future results to differ from forward-looking statements, including economic conditions, issues raised by the FDA in warning letters and observations, developing and commercializing pharmaceutical products, reductions in business with significant customers, the impact of competition, and other regulatory, legal and operational risks. It also provides an overview of the company's generic and branded product pipelines and growth strategies focusing on organic growth, partnerships, and M&A.
Braskem reported financial results for the first quarter of 2010 with an EBITDA of R$729 million, up 19% from the fourth quarter of 2009. Net revenue was R$4.466 billion, up 5% from the previous quarter. Domestic resin sales were stable compared to the fourth quarter. Braskem also announced the approval of its PVC project in Alagoas with an NPV of US$450 million and changes to its Venezuela project that reduce investments to US$500 million. Total planned investments for 2010 amount to R$1.6 billion, focusing on the PVC expansion project in Alagoas and other growth and maintenance projects.
Presentation by Tom Vandenbrande (HIVA - Research Institute for Work and Society of the Leuven University) on the occasion of the Joint EESC conference organised by the Labour Market Observatory and the European Year 2012 Coordination Group on the Activation of senior citizens - Humanising working conditions for senior workers (Brussels - 20 June 2012)
This document is a presentation from Jay Craig, Senior Vice President and CFO of Meritor, Inc. given at the Deutsche Bank Leveraged Finance Conference on September 25, 2008. The presentation provides an overview of Meritor's commercial vehicle systems business, including key product lines and leadership positions. It also discusses strategies to improve financial results and answers frequently asked questions.
Grendene - 2nd Annual Brazil Conference Itaú SecuriesGrendene
Grendene reported financial results for the first quarter of 2007, with revenue up 14.4% year-over-year to R$327 million. Net income grew 14.4% to R$47 million. For full-year 2006, revenue increased 2.9% to R$1.392 billion while net income rose 31.3% to R$256 million. Grendene expects revenue and profitability to continue growing in 2007 through higher average prices and a focus on higher-value products, along with moderate sales volume growth and continued margin improvements. Seasonality impacts results, with weaker performance typically in the first and third quarters.
Presentation for International Women\'s Conferencejblanea
The document discusses the connections between African and Latina cultures. It explores how the two cultures have influenced each other through history and spiritual traditions like Yoruba and Santeria. The document also examines the important roles women from these cultures have played in social movements for civil rights, labor rights, and education equality. It provides examples of how African history and the African diaspora are an important part of Latino histories and identities in countries like Brazil. The purpose is to better understand and educate about the shared connections between African and Latina women and cultures.
March 20 Knesset conference on 'Racism and Discrimination in Housing and Edu...europe_in_israel
The document is an invitation to attend a conference at the Knesset titled "Racism and Discrimination in Housing and Education". The conference will be held on March 20, 2012 from 10am to 1pm in the "HaGagalil" Hall to discuss the effects of racism on housing and education rights in commemoration of the International Day for the Elimination of Racial Discrimination. Contact information is provided for registration and entrance approval is required by providing passport or ID numbers. The conference is funded by the European Union and implemented by advocacy organizations.
WEG 3T10 Apresentação Teleconferencia ResultadosWEG
1) A WEG apresentou crescimento de receita no terceiro trimestre de 2010, impulsionada principalmente pelas aquisições recentes na África do Sul e no México.
2) O mercado externo cresceu apesar da valorização do real, enquanto o mercado interno apresentou crescimento menor.
3) A administração da WEG se mostra otimista com as perspectivas de longo prazo dos negócios, com destaque para a energia eólica no Brasil.
The document provides an overview of IDGC of Centre's 2011 financial results and strategic outlook for 2012. It discusses key financial indicators such as revenue growth of 13.9% in 2011, EBITDA growth of 19.4%, and net profit growth of 7.8%. It also outlines the company's strategic priorities, including improving quality, reliability and innovations, increasing market share, optimizing investment activity and operating costs, and enhancing investment appeal.
This document contains an agenda and presentation for Itaú's annual Brazil conference in May 2009. The presentation provides an overview of Braskem, the leading petrochemical company in Latin America. It discusses Braskem's financial highlights and ownership structure leveraging its relationship with Petrobras. It also summarizes Braskem's track record of growth through organic expansion and acquisitions, investments in innovation, and achievements in 1Q09 including a new naphtha agreement and maintaining financial discipline.
WEG reported its Q2 2010 results with the following highlights:
- Gross operating revenue increased 8.5% year-over-year to R$1.227 billion. Domestic revenue grew 3.7% while external markets grew 20%.
- Net income decreased 2.5% to R$116.1 million and EBITDA declined 4.3% to R$174 million.
- The company expanded internationally through additional investments in Mexico and South Africa and acquiring a company in Brazil.
- Management believes growth opportunities remain in energy efficiency and renewable energy areas.
The document is a summary of WEG's Q3 2009 conference call discussing financial results. It notes that while the downturn was swift, recovery is gradual. Gross revenues were down 14% year-over-year due to impacts across markets, though margins are recovering faster through improved efficiency. Quarterly highlights show decreases in gross operating revenue but increases in gross margin and net income. Cost reductions and mix improvements helped profitability. Cash generation was strong and debt levels decreased. Capacity expansion investments continued with strict controls to maximize returns. Contact information is provided for further questions.
Cpfl energia btg pactual ceo conference_10fev_finalCPFL RI
The document provides an overview of the Foz do Chapecó HPP (hydroelectric power plant) dam and reservoir project in Brazil. It discusses the company's leadership in the Brazilian electric sector as the largest private player, with a focus on distribution, commercialization, and renewable generation. The company has a strong financial position and growth outlook, investing billions in expanding its distribution and generation businesses over the next five years through projects like wind farms and hydroelectric plants.
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.
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
ual JPMorgan Global High Yield Conference Presentationfinance13
This document provides an overview of UAL Corporation's performance in the fourth quarter of 2008. Some key points:
- UAL reported a pre-tax loss of $547 million for Q4 2008, excluding special items.
- Capacity reductions have positioned the company well for a downturn, with an 11.7% reduction in Q4 2008 capacity.
- Cost control efforts kept Q4 CASM excluding fuel flat year-over-year despite the large capacity cut.
- The company has taken aggressive actions to reduce capacity and costs in 2009 to deal with challenges.
The document discusses the Company's financial results for 1Q12. Net revenue increased 16.4% to R$161.4 million, while gross profit grew 19% to R$67.2 million. EBITDA was R$14.7 million, but excluding a non-recurring expense would have been R$22.7 million. Net income totaled R$10.9 million or R$16.1 million excluding the non-recurring impact. The company saw strong growth in owned stores and franchises as well as its brands, with an emphasis on expanding its distribution channels.
Aceds 2011 E Discovery Conference Brochure Seth Row VoucherSeth Row
This document advertises an e-Discovery conference hosted by ACEDS to be held from March 23-25, 2011 in Hollywood, Florida. The conference will provide training from 24 experts on best practices in e-Discovery, opportunities for networking, and hands-on demonstrations. Attendees will learn about topics like social media, cloud computing, budgeting strategies, and computer forensics. The conference is aimed at legal professionals, corporations, government agencies, and technology professionals working in e-Discovery.
Jefferies Global Healthcare Conference June 5 2013impax-labs
This document contains a "Safe Harbor" statement regarding forward-looking statements in the presentation. It notes several risks and uncertainties that could cause the company's future results to differ from forward-looking statements, including economic conditions, issues raised by the FDA in warning letters and observations, developing and commercializing pharmaceutical products, reductions in business with significant customers, the impact of competition, and other regulatory, legal and operational risks. It also provides an overview of the company's generic and branded product pipelines and growth strategies focusing on organic growth, partnerships, and M&A.
Braskem reported financial results for the first quarter of 2010 with an EBITDA of R$729 million, up 19% from the fourth quarter of 2009. Net revenue was R$4.466 billion, up 5% from the previous quarter. Domestic resin sales were stable compared to the fourth quarter. Braskem also announced the approval of its PVC project in Alagoas with an NPV of US$450 million and changes to its Venezuela project that reduce investments to US$500 million. Total planned investments for 2010 amount to R$1.6 billion, focusing on the PVC expansion project in Alagoas and other growth and maintenance projects.
Presentation by Tom Vandenbrande (HIVA - Research Institute for Work and Society of the Leuven University) on the occasion of the Joint EESC conference organised by the Labour Market Observatory and the European Year 2012 Coordination Group on the Activation of senior citizens - Humanising working conditions for senior workers (Brussels - 20 June 2012)
This document is a presentation from Jay Craig, Senior Vice President and CFO of Meritor, Inc. given at the Deutsche Bank Leveraged Finance Conference on September 25, 2008. The presentation provides an overview of Meritor's commercial vehicle systems business, including key product lines and leadership positions. It also discusses strategies to improve financial results and answers frequently asked questions.
Grendene - 2nd Annual Brazil Conference Itaú SecuriesGrendene
Grendene reported financial results for the first quarter of 2007, with revenue up 14.4% year-over-year to R$327 million. Net income grew 14.4% to R$47 million. For full-year 2006, revenue increased 2.9% to R$1.392 billion while net income rose 31.3% to R$256 million. Grendene expects revenue and profitability to continue growing in 2007 through higher average prices and a focus on higher-value products, along with moderate sales volume growth and continued margin improvements. Seasonality impacts results, with weaker performance typically in the first and third quarters.
Presentation for International Women\'s Conferencejblanea
The document discusses the connections between African and Latina cultures. It explores how the two cultures have influenced each other through history and spiritual traditions like Yoruba and Santeria. The document also examines the important roles women from these cultures have played in social movements for civil rights, labor rights, and education equality. It provides examples of how African history and the African diaspora are an important part of Latino histories and identities in countries like Brazil. The purpose is to better understand and educate about the shared connections between African and Latina women and cultures.
March 20 Knesset conference on 'Racism and Discrimination in Housing and Edu...europe_in_israel
The document is an invitation to attend a conference at the Knesset titled "Racism and Discrimination in Housing and Education". The conference will be held on March 20, 2012 from 10am to 1pm in the "HaGagalil" Hall to discuss the effects of racism on housing and education rights in commemoration of the International Day for the Elimination of Racial Discrimination. Contact information is provided for registration and entrance approval is required by providing passport or ID numbers. The conference is funded by the European Union and implemented by advocacy organizations.
WEG 3T10 Apresentação Teleconferencia ResultadosWEG
1) A WEG apresentou crescimento de receita no terceiro trimestre de 2010, impulsionada principalmente pelas aquisições recentes na África do Sul e no México.
2) O mercado externo cresceu apesar da valorização do real, enquanto o mercado interno apresentou crescimento menor.
3) A administração da WEG se mostra otimista com as perspectivas de longo prazo dos negócios, com destaque para a energia eólica no Brasil.
The document provides an overview of IDGC of Centre's 2011 financial results and strategic outlook for 2012. It discusses key financial indicators such as revenue growth of 13.9% in 2011, EBITDA growth of 19.4%, and net profit growth of 7.8%. It also outlines the company's strategic priorities, including improving quality, reliability and innovations, increasing market share, optimizing investment activity and operating costs, and enhancing investment appeal.
This document contains an agenda and presentation for Itaú's annual Brazil conference in May 2009. The presentation provides an overview of Braskem, the leading petrochemical company in Latin America. It discusses Braskem's financial highlights and ownership structure leveraging its relationship with Petrobras. It also summarizes Braskem's track record of growth through organic expansion and acquisitions, investments in innovation, and achievements in 1Q09 including a new naphtha agreement and maintaining financial discipline.
WEG reported its Q2 2010 results with the following highlights:
- Gross operating revenue increased 8.5% year-over-year to R$1.227 billion. Domestic revenue grew 3.7% while external markets grew 20%.
- Net income decreased 2.5% to R$116.1 million and EBITDA declined 4.3% to R$174 million.
- The company expanded internationally through additional investments in Mexico and South Africa and acquiring a company in Brazil.
- Management believes growth opportunities remain in energy efficiency and renewable energy areas.
The document is a summary of WEG's Q3 2009 conference call discussing financial results. It notes that while the downturn was swift, recovery is gradual. Gross revenues were down 14% year-over-year due to impacts across markets, though margins are recovering faster through improved efficiency. Quarterly highlights show decreases in gross operating revenue but increases in gross margin and net income. Cost reductions and mix improvements helped profitability. Cash generation was strong and debt levels decreased. Capacity expansion investments continued with strict controls to maximize returns. Contact information is provided for further questions.
Cpfl energia btg pactual ceo conference_10fev_finalCPFL RI
The document provides an overview of the Foz do Chapecó HPP (hydroelectric power plant) dam and reservoir project in Brazil. It discusses the company's leadership in the Brazilian electric sector as the largest private player, with a focus on distribution, commercialization, and renewable generation. The company has a strong financial position and growth outlook, investing billions in expanding its distribution and generation businesses over the next five years through projects like wind farms and hydroelectric plants.
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.
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
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.
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.
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.
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. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
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.
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.
Similar to Deustche Bank Brazil C E O 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
Brazilian Electricity Sector
Balanço dos 3–anos de IPO
CPFL Energia Highlights and Results
CPFL Energia – Performance in the Capital Markets
2
3. Brazilian market has 64 distribution’s companies
Distribution Business: Distribution Market Share1 %
2006
Distributors (#) 64
CELESC 4.8%
Clients (million) 59.1 COPEL 6.7% EdB 5.7%
ENDESA 4.2%
Neoenergia
Distributed Energy (TWh) 347.4 7.3% Ashmore Energy
3.7%
CEMIG
Companhia
Energética
8.6%
Market Breakdown Brasiliana
Others 33,1%
Energia 12.1%
The 5 largest groups have 50% of market-share CPFL Energia
13.8%
State-owned companies: 34%
Private Company: 66%
Spreading proposes consolidation opportunities
1) 1Q07
3 Source: Aneel – Installed capacity: PDEE 2007-2016 Market breakdown: Acende Brasil
4. Brazilian market has 1,600 generation companies.
The public sector concentrates 72% of the assets
Generation Business: Generation Market Share %
2006
Generation Companies (#) 1,660
Installed Capacity
104,822
(MW)
Others 35%
CPFL Energia 2%
Chesf 10%
Duke 2%
AES Tietê 3%
Furnas 9%
Market Breakdown Copel 4%
Tractebel 6%
Eletronorte 9%
Cemig 6%
The 5 largest groups have 50% of the market CESP 7%
Itaipu 7%
State-owned companies: 72%
Private Company: 28%
Source: Aneel – Installed capacity: PDEE 2007-2016
4 Market breakdown: Acende Brasil
6. Summary
Brazilian Electricity Sector
Balanço dos 3–anos de IPO
CPFL Energia Highlights and Results
CPFL Energia – Performance in the Capital Markets
6
7. Since 1997, CPFL Energia has developed an aggressive strategy of
growth in distribution, generation and commercialization of energy
IPO
CPFL
Jaguariúna1
1997 1998 2000 2001 2002 2003 2004 2005 2006 2007
• CPFL Paulista’s Privatization Recent Acquisitions:
• Acquisitions: 12 companies • CPFL Jaguariúna1 in Apr/07
• Creation of 2 companies • CPFL Santa Cruz in Oct/06
• Spin-off and Restructuring: 5 companies • 11% of CEEE stake in HPP Foz do Chapecó in
• Generation projects: 6 HPP (hydroelectric Aug/06
power plant)
• 32.69% of PSEG stake in RGE in May/06
7 1) Old company name: CMS Energy Brasil
8. The solidity achieved by CPFL reflects its operational efficiency
and the quality of the markets in which it operates
Distribution – 2007
Distribuitors (#) 8
Municipalities 568
Concession Area (in thousand km2) 208
Market Share (%) 13,8
Customers (million) 6,3
Energy Sales (GWh) 34.578
8
9. Strong growth in distribution: organic and by acquisitions
DISTRIBUTION
IPO (Sep/04) – Distribution: 3 companies Sep/07 – Distribution: 8 companies
• May/06 – Acquisition of 32,69% stake of RGE
• Oct/06 – Acquisition of Cia. Luz e Força Santa Cruz
• Apr/07 – Acquisition of CMS Energy Brasil
• Companhia Paulista de Energia Elétrica
• Companhia Jaguari de Energia
(67.07%) • Companhia Sul Paulista de Energia
• Companhia Luz e Força Mococa
• Aug/07 – Acquisition of CERFRA’s assets
Operations in SP and RS States Operations in SP, RS, PR and MG States
Growth by
IPO – Sep/041 Organic Growth Sep/07 Var. %
Acquisition
Municipalities (#) 523 - 45 568 8.6%
Distribution Network (km) 165,8272 15,332 14,196 196,075 18.2%
Customers (thousand) 5,411 459 350 6,220 14.5%
Concession Area Sales
27,1223 4,282 2,866 34,270 26.4%
9M (GWh)
Market Share 12.2% 0.8% 0.8% 13.8% 1.6 p.p.
1) Considers 100% of RGE, except for Concession area Sales 2) Data basis: Jun,04
9 3) Considers 67.07% of RGE Note: Concession Areas Sales (TUSD + captive market)
10. CPFL Energia: Distribution Business
DISTRIBUTION
Net Revenue – R$ billion EBITDA – R$ billion
28%
8.061
7.070 55%
6.313 6.064
1
2.011 1.888
1.595
1.295
2004 2005 2006 9M07 2004 2005 2006 9M07
Net Income – R$ billion Nº Customers – in million
232% 5%
6,3
1.073 1.037 5,5 5,6 5,7
756
323
2004 2005 2006 9M07 2004 2005 2006 9M07
10 1) Not comparable - considers CCC and CDE within revenue deductions
11. Construction and repowering of power plants in line with the
generation growth strategy
GENERATION
Generation – 2007
In operation
Installed Capacity (MW) 1,588
Assured Energy (MWmedium) 800
HPPs (#) 8
SPPs (#) 32
Under Construction
Installed Capacity (MW) 586
Assured Energy (MWmedium) 282
HPPs (#) 3
Installed Capacity until 2010 (MW) 2,174
Campos Novos HPP Castro Alves HPP CPFL Sul Centrais Elétricas
11
12. Construction and repowering of power plants in line with the
generation growth strategy
GENERATION
33 HPP HPP HPP Complexo Ceran HPP
HPP
Power Plant Serra da Barra Campos Foz do
Lajeado HPP Monte HPP Castro HPP 14 de
SPP's Mesa Grande Novos Chapecó
Claro Alves Julho
CPFL Ownership (%) 100% 51,54% 25,01% 48,72% 6,93% 65% 65% 65% 51%
Installed capacity (MW) 147 657 173 429 63 85 85 65 436
Assured energy (MWmedium) 75 346 95 184 36 38 42 33 220
Commercial start-up (year) in operation 1Q08 3Q08 2010
12 * Installed Capacity and Assured Energy related to CPFL´s stake.
19. CPFL Energia – Results
EBITDA1 – last twelve months - R$ million EBITDA Breakdown2 9M07
G
25% 16%
D
C 73%
3,004 3,159 3,247
2,593 2,789 11%
2,530
3T06 4T06 1T07 2T07 3T07
Net Income - last twelve months - R$ million Net Income Breakdown 9M07
G
12% 15%
D
C 72%
13%
1,634 1,616
1,571
1,439 1,404
1,322
3T06 4T06 1T07 2T07 3T07
19 1) Including non-recurring effects 2) Intercompany transactions excluded
20. Dividend distribution aligned with the shareholder’s
value creation
CPFL distributes 100% of net income in dividends:
R$ 842 million in 1H07 – R$ 1,76 per share
Declared dividend1 (R$ million) vs. CPFE3 Price (R$)
Declared dividend
31.74
30.05
28.25
Average Price
23.33
18.85
16.58 842
722
612
498
401
140
2H04 1H05 2H05 1H06 2H06 1H07
Annualized Dividend Yield
(average price2) 3.7% 9.3% 8.9% 8.5% 10.7% 11.1%
Since the IPO (2H04), CPFL Energia’s dividend yield has already reached 39.3%3
1) Declared dividend: payment in the next half year 2) Half year daily closing price average
20
21. Financial discipline and debt profile
Adjusted net debt (R$ million)
(6540)
(5,781) (759) (5,438)
390
712
Financial debt 3T06¹ Private pension fund Cash and Cash Regulatory Assets Adjusted net debt
Equivalents 3T07
Adjusted net debt / EBITDA2 (R$ billion)
6.28
5.44
4.92
4.39 4.42 4.11
3.78 3.70
4,92
2,85 2,25 1,74 1,57 1,37 1,55 1,67
2002 2003 2004 2005 2006 1T07 2T07 3T07
Adjusted net debt Adjusted net debt / EBITDA
1) Includes derivatives and excludes judicial deposit of R$ 364 million
21 2) Last twelve months EBITDA
23. Differentiated Corporate Governance: commitment with the best
practices
Shares lited on the Bovespa’s Novo Mercado
and ADR Level III – NYSE
100% common shares with 100% tag along
Free Float above 25%
Subsidiaries’ Bylaws aligned with CPFL
Energia’s Bylaws
Annual Report in compliance with the Global
Reporting Initiative – GRI
Ethics Code aligned with Sarbanes Oxley Law’s
recommendations
1 Independent Director
3 Commitees supporting the Board: Process
Management, Human Resources and Related-
Parties Committees
Dividend policy of minimum 50% semi-
annually
Disclosure and Trading of Securities Policies
23
24. Summary
Brazilian Electricity Sector
Balanço dos 3–anos de IPO
CPFL Energia Highlights and Results
CPFL Energia – Performance in the Capital Markets
24
25. Since the IPO, appreciation and substancial increase in liquidity
Share performance1 – IPO to Dec,2007
BOVESPA NYSE
175.0% 297.6%
162.0% 282.0%
147.0%
30.9%
IBOVESPA IEE CPFE3 Dow Jones DJ Br 20 CPL
Market Cap – R$ billion2 Daily average volume – R$ thousand
363% 32,561
108%
16,2
17,270 19,755
7,027 9,141
7,8
3,521 12,807
8,128
3,506
2005 2006 2007
IPO 2006 2006 2007
NYSE BOVESPA
1) Closing price adjusted for dividends
25 2) Closing price not adjusted for dividends
26. CPFL Energia has consolidated its participation in the capital markets
Listed on the main indexes
MSCI Index
+ +
IPO 2005/2006 2007
Transparency and capital market proximity
• 37 APIMEC’s meetings – 12 per year
• 35 Conferences – 17 local and 18 international
• 19 Teleconferences and Webcast Results
594 one-on-one meetings... almost 1 meeting per business day
Sell side coverage 2004 2005 2006 2007
# of institutions 7 14 22 24
26 Events since the IPO
27. Market Recognition
• 1st place in Corporate Governance – Latin
America Electric Utilities – 2004
• 2nd place in Investor Relations – Latin America
• Best Publicly-traded Company – 2004
Electric Utilities – Sell Side – 2004
• 2nd place in Investor Relations – Latin America
Electric Utilities – Buy Side – 2004
• CPFL Energia – Deal of the Year in
• Quality Award – Best 2005 and 2007 Presentation
Latin America 2004 – Equity Category
• ExpoMoney 2006 Award – Respect to • ABERJE 2006 “Investor Relations”
Individual Investor • ABERJE 2006 and 2007: “Company of the Year in
• Special Mention Expomoney Circuit 2006 Corporate Communication”
• 9th ABRASCA Award – Annual Report
• 8th Best Company to Invest in – 2006
2007 Edition – 5th place
• Honorable Mention – Best
• Best Investor Relations
Corporate Governance
• Honorable Mention – Best Performance by a CEO/CFO
• Best Conference Call
Investor Relations in IPO • Honorable Mention – Best
• Best Investor Relations Program
Corporate Governance
(large cap)
27