CPFL Energia is Brazil's largest privately-owned electricity sector group. It operates in electricity distribution, generation, and commercialization with almost 100 years of history. The company has a solid corporate governance structure and is committed to sustainability. In 2Q10, CPFL Energia reported a 14.8% increase in EBITDA and 33% increase in net income compared to 2Q09.
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1. Fact Sheet
2Q10
Corporate Profile
CPFL is a publicly listed holding company for subsidiaries are considered benchmarks of management, quality and
operating in the electricity distribution, generation and operational efficiency.
commercialization sectors and related value-added services. It After the (IPO) in September 2004, CPFL Energia became the
is Brazil’s largest privately owned electricity sector group. With first Brazilian private sector company to simultaneously trade
almost 100 years of history behind it and a strategy oriented on the São Paulo Stock Exchange (Bovespa Novo Mercado)
towards satisfying society’s expectations in Brazil, the Group is and on the NYSE as level III ADR, both requiring the highest
based on solid ethical foundations that reflect its commitment levels of Corporate Governance practices.
to excellence and to corporate sustainability. Its companies
Corporate Structure
Free Float
25.7% 31.0% 12.6% 30.7%
100% 100%
100%
100% 100%
100% 65%
99.95%
25.01%
100% 100%
48.72%
100%
100% 100%
100% 100%
CPFL Bio Ipê Parque Eólico Santa Clara3
100% 100% 51%
CPFL Bio Buriti EPASA
51%
100% 100% Chapecoense Geração S.A.
CPFL Bio Pedra
100%
100%
100% 100%
100%
59.93%
100% Paulista Lajeado
100% 5.91% Investco
1Includes 0.1% of Camargo Corrêa S.A.’ stake
2Controlling shareholders
3Emcompasses 7 companies: Santa Clara I, II, III, IV, V, VI and Eurus VI
Note: as of June 30, 2010
2. Service Territory Fact Sheet 9M09 | CPFL Energia
Commercialization
and Services
Nationwide Coverage
8 9
10
1
Generation
Location of Generating Plants
2
41 Hydroelectric Power Plants Distribution
1 Luís Eduardo Magalhães HPP Service Territory
2 Serra da Mesa HPP
7 7
3 Foz do Chapecó HPP
4 Campos Novos HPP 7 9
5 Barra Grande HPP
6 Monte Claro HPP 11
Ceran
Castro Alves HPP Complex
14 de julho HPP
3 4
7 33 Small Power Plants (SPPs) 7 5
26 SP, 3 MG and 4 RS 6
7 Wind Farms (4 SP and 1 RN)
8 Santa Clara I, II, III, IV, V, VI and Eurus VI
5 Sugar Cane Biomass- red Thermoelectric Power Plants
9 Biomass TPPs
4 SP and 1 RN
3 Oil- red Thermoelectric Power Plants
10 Termoparaíba HPP
Epasa
Termonordeste HPP
11 Carioba HPP
Dividends Dividends and Dividend Yield
CPFL Energia declared distribution of Declared Dividends1 Dividend Yield2 CPFL Price ($/ON) -
intermediary dividends referring to 1H10 (R$ million) (last 12 months) Average
totaling R$ 774 million, equivalent to R$ 1.61
per share and representing 100% of the net 9.1% 8.7% 9.6% 10.9% 9.7% 7.9% 8.6%
6.5% 7.6% 7.3% 7.6%
profits for the period. The dividend yield for
3.7% 842
1H10, based on the average price of its shares 722 719 655
774
612 602 606 572
over the period (R$ 36.41), was 8.6% (last 12 498
401
months). As of August 19, 2010 CPFL Energia’s 140
shares were considered to be ex-dividend.
2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10
35.99 36.11 36.41
31.74 33.38 31.55 33.02
30.05 28.25
23.33
18.85
16.58
Since the IPO (SEP/04), CPFL Energia’s dividend yield has already reached 86.8%3.
1Payment in the next half year | 2Considering last two half-year’s dividends yield | 3IPO price per
share: R$17.22
3. Fact Sheet 2Q10 | CPFL Energia
Market
Free Market Captive Market Sales by Consumer Class – 2Q10
Total Energy Sales - GWh
3.1% 24% Residential
11,811 12,181
14% Commercial
2,548 2,420
25% TUSD1
23% Industrial
9,263 9,761
14% Other
2Q09 2Q10
Note: excluding inter-group company sales (consolidation accounting criteria), CCEE and generation sales (except to the Free Market).
1Total monthly TUSD (pro forma)
Financial Performance
Reported
Net Revenue (R$ million) EBITDA (R$ million) Net Income (R$ million)
-0.3% 14.8%
33.0%
2,648 2,640 793 384
691
289
2Q09 2Q10 2Q09 2Q10 2Q09 2Q10
Adjusted Net Debt (R$ billion) Debt Breakdown 2Q10
Adjusted Net Debt1 Adjusted Net Debt/EBITDA2
1% US$
6% IGP (Natural Hedge)
6.37 6.42
6.28 5.65
5.09
4.39 4.42 1.72:
3.78 3.70 excluding Foz
4.92 do Chapecó
HPP, EPASA
2.85 2.25 and Baldin
2.30 2.13
1.74 2.01 TPPs’ debts
1.57 1.53
31% TJLP 62 % CDI
2002 2003 2004 2005 2006 2007 2008 2009 2Q10
1Excludes Judicial Deposits of R$ 465 million; includes hedging operations
2LTM EBITDA
4. Corporate Governance Sustainability and 9M09 | CPFL Energia
Fact Sheet
Recognized as one of the companies with the most advanced corporate governance Corporate Responsibility
practices in Latin America, CPFL Energia is constantly improving its governance CPFL Energia’s sustainability strategy ensures integrity, transparency and credibility in
systems, based on the principles of transparency, equity, accountability and corporate its relationships and is the result of a process of continuous evolution and learning.
responsibility. Distinguishing features include:
• Corporate governance guidelines applicable to CPFL Energia and its controlled companies.
News:
• Code of Ethics and Corporate Conduct;
• Corporate Risk Management Policy and Standard Assessment of Internal Controlling; Pro-Climate Companies Seminar
• Superior Dividend and Securities Trading Policies; In August 2009, CPFL Energia and another 21 large companies became signatories of
an Open Letter to Brazil about Climate Change, a document through which the private
• Annual Report in consensus with Global Reporting Initiative (GRI);
sector voluntarily committed to efforts to reduce the impacts of climate change.
• Board of Directors with seven members, one being independent;
CPFL Energia hosted a seminar entitled Pro-Climate Companies and Regulating the
• Fiscal Council with assignments of the Audit Committee in compliance with the rules of National Climate Change Policy, held April 27, 2010. The goal of the meeting was to
SOX; foster a multi-sector debate about the regulating of the climate change law.
• Three Board Advisory Committees to the Board of Directors (Personnel Management,
Related Parties and Management Procedures); Annual Self-Evaluation of the members of
Board of Directors and Fiscal Council; 2009 Annual Report
• Board of Directors members certified by IBGC – Corporate Governance Brazilian Institute; CPFL Energia introduced its 2009 Annual Report on May 20, 2010 in the form of a blog. It
• Succession plans for members of the Executive Board and all CPFL Group key executives; was the first Brazilian company to use the blog tool for accountability to the market.
• Internal controls certified by management (CEO and CFO) and by external auditors;
• Whistle-blowing channel for receiving complaints and/or allegations concerning financial 18th International Seminar on the Search for Excellence
information or breaches of the Code of Ethics; CPFL Energia participated in the 18th International Seminar on the Search for Excellence
• Financial Statements in compliance with USGAAP and BRGAAP standards; held June 10, 2010, organized by the National Quality Foundation (FNQ) and was
• Listing on the market segments with the highest level of governance ( Novo Mercado - represented by its president, Wilson Ferreira Junior, who was on the Ethics and Business
BMF&Bovespa and with ADR Level III-NYSE); Leadership panel.
• 30.7% free float;
• Manual for participation in general shareholders’meetings;
Access the portal and see details of all the programs:
• Corporate Governance Portal. www.cpfl.com.br/sustentabilidade
Rating AA+
Shares’ Information1 Share price performance – 2Q10
06/30/2010 (adjusted per dividends)
CPFE3 (R$) CPL (US$)
Share Price 39.41 66.95 -0.6% 11.5%
-13.4%
Maximum 52 weeks 40.10 68.90
Minimum 52 weeks 30.20 46.20
Bovespa
IBOV IEE CPFE3
Market Cap – R$ billion 19.0
Market Cap – US$ billion 10.5
-10.0% -14.6% 9.9%
Shares Outstanding2 481,137,130
Exchange rate3 1.8015 Nyse
DJIA DJBr20 CPL
1Not adjusted per dividend
2As of June 30, 2010
3Dollar Ptax
Investor relations
CPFL Energia – Rodovia Campinas-Mogi Mirim, km 2,5 | ZIP CODE 13088-900 | Campinas | SP
Phone.: 55 3756-6083 | Fax.: 55 19 3756-6089 | www.cpfl.com.br/ir | ri@cpfl.com.br