This presentation provides an overview of Equatorial Energia and its portfolio of energy companies in Brazil. Equatorial has experienced strong financial performance in recent years, with increasing revenues, EBITDA, investments and dividend payouts. Its portfolio includes CEMAR, the largest electricity distribution company in the state of Maranhão, and Geramar, which owns and operates thermoelectric power plants in Maranhão. The presentation discusses Equatorial's strategy of growth and value creation through operational improvements and consolidation in the Brazilian energy sector.
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, a distribution company in Maranhão state, and CELPA, a distributor in Pará state. The document also outlines Equatorial's strategy of acquiring controlling stakes in distributors and generation assets to increase returns through operational and financial restructuring. Key financial highlights of Equatorial and its subsidiaries CEMAR and CELPA are presented.
The document provides an overview of Equatorial Energia, including its financial performance, portfolio, strategy, management team, and ownership of its main asset, CEMAR. Key points include:
- Equatorial has shown strong financial performance with increasing EBITDA, revenues, and investments over time. It aims to consolidate energy distributors in Brazil and Latin America.
- Its main asset is a 65.1% stake in CEMAR, the distribution company for the state of Maranhão, which has over 2 million customers and annual revenues of R$2.6 billion.
- Under Equatorial's ownership, CEMAR has improved operating and financial metrics through restructuring, with declining losses, costs
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It discusses Equatorial's financial performance, portfolio companies, and strategy. Equatorial's key portfolio companies are CEMAR, a distribution utility in Maranhão, and Celpa, a distribution utility in Pará. The document reviews CEMAR's operating and financial improvements under Equatorial's ownership and outlines Equatorial's goal of consolidating energy distributors in Brazil and Latin America to increase returns.
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes a 65.1% stake in CEMAR, the largest electricity distributor in the state of Maranhão, and a 25% stake in Geramar, a thermal power plant operator. The presentation discusses Equatorial's financial performance in recent years, including growth in revenues and EBITDA, reduced leverage, and increased investments. It also provides an overview of CEMAR's history, ownership structure, tariff review results, and operational highlights as its main asset.
Institucional 1 q14 novo padrão eng-finalEquatorialRI
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, the 4th largest electricity distributor in Brazil's Northeast region, and CELPA in Pará state. The document reviews CEMAR's history and financial performance over time, noting improvements in operating metrics, declining leverage, and increasing investments. Tariff reviews for CEMAR are also summarized.
Institucional 4 q13 novo padrão eng-finalEquatorialRI
This document provides an overview of Equatorial Energia, a Brazilian holding company focused on energy distribution and generation. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, the 4th largest electricity distributor in Brazil's Northeast region, and CELPA, a distributor in Pará state. The document also reviews Equatorial's financial performance, noting steady revenue and EBITDA growth since 2004, as well as its strategy to increase returns through operational improvements and consolidation in the Brazilian energy sector.
The AES Corporation reported solid financial results for Q2 and year-to-date 2008. Revenue increased 24% to $4.1 billion for Q2 due to higher prices and volumes. Income from continuing operations was $903 million or $1.31 per share for Q2. Adjusted EPS was $0.17. For the full year, AES increased its adjusted EPS guidance to $1.16. Recent developments included construction starting on 4 power plants totaling 953 MW and acquiring a 49% stake in a 49.5 MW Chinese wind project.
Tele2 reported robust fourth quarter and full-year 2008 results with revenue growth and improved profitability. Key highlights included strong growth in Russia and Croatia, stable performance in the Nordic region, and a focus on profitability in Western Europe. Tele2 is well positioned financially and operationally to deal with potential economic impacts in 2009, with contingency plans to preserve cash flow. The company proposed an increased dividend and secured a new credit facility, maintaining a strong liquidity profile.
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, a distribution company in Maranhão state, and CELPA, a distributor in Pará state. The document also outlines Equatorial's strategy of acquiring controlling stakes in distributors and generation assets to increase returns through operational and financial restructuring. Key financial highlights of Equatorial and its subsidiaries CEMAR and CELPA are presented.
The document provides an overview of Equatorial Energia, including its financial performance, portfolio, strategy, management team, and ownership of its main asset, CEMAR. Key points include:
- Equatorial has shown strong financial performance with increasing EBITDA, revenues, and investments over time. It aims to consolidate energy distributors in Brazil and Latin America.
- Its main asset is a 65.1% stake in CEMAR, the distribution company for the state of Maranhão, which has over 2 million customers and annual revenues of R$2.6 billion.
- Under Equatorial's ownership, CEMAR has improved operating and financial metrics through restructuring, with declining losses, costs
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It discusses Equatorial's financial performance, portfolio companies, and strategy. Equatorial's key portfolio companies are CEMAR, a distribution utility in Maranhão, and Celpa, a distribution utility in Pará. The document reviews CEMAR's operating and financial improvements under Equatorial's ownership and outlines Equatorial's goal of consolidating energy distributors in Brazil and Latin America to increase returns.
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes a 65.1% stake in CEMAR, the largest electricity distributor in the state of Maranhão, and a 25% stake in Geramar, a thermal power plant operator. The presentation discusses Equatorial's financial performance in recent years, including growth in revenues and EBITDA, reduced leverage, and increased investments. It also provides an overview of CEMAR's history, ownership structure, tariff review results, and operational highlights as its main asset.
Institucional 1 q14 novo padrão eng-finalEquatorialRI
This document provides an overview of Equatorial Energia, a holding company focused on energy distribution and generation in Brazil. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, the 4th largest electricity distributor in Brazil's Northeast region, and CELPA in Pará state. The document reviews CEMAR's history and financial performance over time, noting improvements in operating metrics, declining leverage, and increasing investments. Tariff reviews for CEMAR are also summarized.
Institucional 4 q13 novo padrão eng-finalEquatorialRI
This document provides an overview of Equatorial Energia, a Brazilian holding company focused on energy distribution and generation. It summarizes Equatorial's portfolio, which includes controlling stakes in CEMAR, the 4th largest electricity distributor in Brazil's Northeast region, and CELPA, a distributor in Pará state. The document also reviews Equatorial's financial performance, noting steady revenue and EBITDA growth since 2004, as well as its strategy to increase returns through operational improvements and consolidation in the Brazilian energy sector.
The AES Corporation reported solid financial results for Q2 and year-to-date 2008. Revenue increased 24% to $4.1 billion for Q2 due to higher prices and volumes. Income from continuing operations was $903 million or $1.31 per share for Q2. Adjusted EPS was $0.17. For the full year, AES increased its adjusted EPS guidance to $1.16. Recent developments included construction starting on 4 power plants totaling 953 MW and acquiring a 49% stake in a 49.5 MW Chinese wind project.
Tele2 reported robust fourth quarter and full-year 2008 results with revenue growth and improved profitability. Key highlights included strong growth in Russia and Croatia, stable performance in the Nordic region, and a focus on profitability in Western Europe. Tele2 is well positioned financially and operationally to deal with potential economic impacts in 2009, with contingency plans to preserve cash flow. The company proposed an increased dividend and secured a new credit facility, maintaining a strong liquidity profile.
TGI is Colombia's largest natural gas transportation company, owning 61% of the national pipeline network. This document provides an overview of TGI, including its history, financial and operating highlights from 2009-2014, and key updates. It also outlines TGI's expansion projects going forward to increase pipeline capacity. TGI has experienced stable growth and strong financial performance under the leadership of its controlling shareholder EEB.
This document summarizes a public meeting held by CTEEP in 2014. It discusses CTEEP's principal challenges, growth opportunities, and 3Q14 financial results. CTEEP aims to improve efficiency through optimization of O&M costs and investments, while pursuing indemnification from ANEEL. It also seeks to strengthen governance over its subsidiaries and capitalize on increased energy demand in Brazil through 2022. CTEEP's 3Q14 results show growth in net income, EBITDA, and RAP compared to the previous year.
Cambrian Mining Plc is a diversified mining group that operates in 3 continents and produces 4 commodities. In 2008, the company saw growth in coal sales and antimony-gold concentrate production. The acquisition of Coal International Plc consolidated Cambrian's status as a mining operator. Key transactions included the sale of Falls Mountain Coal Inc to Western Canadian Coal Corp. The CEO report discusses progress transforming Cambrian into an operating mining group through corporate activity and developing control systems, while growing operations.
Presentación de Resultados Ferrovial 2011Ferrovial
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments. Ferrovial is well positioned with a strong balance sheet and liquidity to invest in future growth opportunities
Revenues for Ecobank Transnational Incorporated increased 14% to $2.3 billion for the year ended December 31, 2014, while profit before tax rose 134% to $519.5 million. Total assets also grew 8% to $24.2 billion. The results demonstrate the benefits of Ecobank's diversified business model across sub-Saharan Africa, as the company increased loans and deposits while improving efficiency.
- Alupar reported financial results for 1Q13, with adjusted net revenue increasing 5.7% to R$281.1 million compared to 1Q12. Adjusted EBITDA was R$227.2 million in 1Q13, up 0.9% from 1Q12.
- In transmission, adjusted net revenue grew 5.7% to R$255.9 million. Transmission EBITDA increased 5.9% to R$231.5 million in 1Q13 compared to 1Q12.
- Generation net revenue increased 18.5% to R$45.6 million in 1Q13 versus 1Q12 due to the consolidation of new generation assets.
EEB is a leading energy company in Colombia and regional markets. It has a wide portfolio of energy businesses including electricity transmission, distribution and generation, as well as natural gas transportation and distribution. EEB has majority market shares across its different business segments in Colombia and regional markets like Peru and Guatemala. The company focuses on natural monopoly businesses and growing through controlled subsidiaries and projects in attractive markets. EEB has stable revenues from regulated businesses, accounting for 81% of its income. It has ambitious investment plans for 2013-2019 to expand its electricity and gas infrastructure through brownfield and greenfield projects.
In 2012, AES Eletropaulo saw a 1% increase in energy consumption but a decrease in operational metrics like SAIDI and SAIFI. Financial results were lower in 2012 with a 77% drop in EBITDA and 93% decrease in net income due to tariff reductions, higher energy costs, and one-time gains in 2011. The company invested R$831 million in 2012 focusing on maintenance, expansion and customer service. For 2013, AES Eletropaulo is focusing on efficiency initiatives to reduce costs and debt.
This document provides an overview of Enel S.p.A.'s 2014 interim results presentation. It discusses ongoing challenges in the Italian and Spanish energy markets and Enel's strategic actions, including ongoing asset disposal and decoupling of Iberian and Latin American operations. Key financial highlights show a decrease in revenues but stable recurring net income compared to the prior year.
1) Enel reported 2012 revenues of €84.9 billion, up 6.8% from 2011. EBITDA declined 4.9% to €16.7 billion due to lower results in generation and energy management in Italy.
2) Net income fell sharply to €865 million due to one-off losses, but ordinary net income declined more modestly by 14.9% to €3.455 billion.
3) Presentations will provide an update on Enel's 2013-2017 strategy and financial targets as well as discuss 2012 results and priorities for business divisions.
TGI is the largest natural gas transportation company in Colombia with a network of 3,957 km of pipelines. It has several expansion projects underway to increase capacity, such as the La Sabana compression plant and increasing capacity on the Cusiana-Apiay pipeline. TGI has a stable business model with 98% of revenues coming from long-term regulated tariffs. It maintains strong financial metrics with low leverage and interest coverage of nearly 6 times.
- ISA presented results for the 2nd quarter of 2013 and the first half of 2013, as well as its strategic review and plans.
- CTEEP's operating performance remained strong, with uptime indicators of 99.97% for transformers and 99.99% for transmission lines. However, financial results declined significantly from the same period last year.
- ISA aims to improve returns from current businesses, capture new growth opportunities with higher returns, and optimize its business and geographic portfolio through dynamic adjustments.
The AES Corporation reported strong financial results for the second quarter of 2007, with revenues increasing 17% to $3.3 billion compared to the second quarter of 2006. Net income increased to $247 million compared to $175 million in the second quarter of 2006. The company continued expanding its alternative energy business, acquiring wind farm projects in the US and China and completing construction of a 233 MW wind farm in Texas.
Enel presented its 2013 results and 2014-2018 strategic plan. Key points include:
- 2013 EBITDA of €15.8 billion, up 7.6% from 2012, driven by growth in Latin America and Enel Green Power.
- Net debt was reduced to €39.9 billion as of December 31, 2013, below the targeted €42 billion.
- The 2014-2018 plan focuses on growing in emerging markets, renewables, distribution and retail, leveraging existing platforms.
- Regulatory trends, technology innovation and customer focus will reshape the energy industry, with emerging markets and downstream activities becoming more important drivers of value.
The document provides an overview of Tele2's financial and operational performance in the second quarter of 2009. Some key highlights include record results across all regions, strong momentum in Russia, and healthy EBITDA contributions from Western European countries. Mobile services showed good customer intake in Sweden and Russia. The company continued focus on cost control and standardizing its product portfolio. Overall, Tele2 reported higher net sales, EBITDA, and margins compared to the same period last year.
- Investa Office Fund reported a net profit of $179.2 million for FY2015, down 2.4% from the previous year. FFO increased 4.5% to $169.9 million and NTA per unit was up 8.1% to $3.62.
- The portfolio valuation increased by $126 million due to cap rate compression, especially for assets with long lease terms. Leasing activity was strong with over 55,000 sqm leased across 124 deals.
- Capital management metrics remained robust with gearing down to 28.8% and weighted average debt maturity of 5.2 years. The weighted average cost of debt was 4.0%.
CEMAR's billed energy volume increased 12.5% year-over-year to 1,201 GWh in 2Q12. Energy losses decreased 1 percentage point to 20.4% of required energy. DEC and FEC rates increased 10.6% and 0.2% respectively. Adjusted EBITDA rose 4.3% to R$115.2 million while adjusted net income fell 11.6% to R$38.8 million. Total capex reached R$138.1 million, with R$101 million for CEMAR and R$37.1 million for the Light for All Program.
El documento contiene varios refranes y sus significados. Explica que el refrán "Antes de contar, escribe; y antes de firmar, recibe" aconseja ser precavidos y no contar logros hasta haberlos conseguido. También advierte sobre confiar en otros sin antes recibir una señal de buena fe. Otro refrán habla de los riesgos de tener aventuras amorosas con personas casadas. Un tercero aconseja no tomar demasiadas confianzas con personas desconocidas para evitar problemas.
Britney Spears es una cantante y bailarina estadounidense muy popular. Ha vendido más de 100 millones de discos en todo el mundo y es considerada la "Princesa del Pop". A lo largo de su carrera ha lanzado éxitos como "Baby One More Time", "Oops!... I Did It Again" y "Toxic" que se han convertido en himnos para varias generaciones de fans alrededor del mundo.
Cemar's operating and financial results for 1Q12 are presented. Key highlights include:
- Cemar's billed energy volume increased 12.2% to 1,119 GWh in 1Q12. Energy losses decreased 0.9 percentage points to 20.7%.
- Net operating revenues increased 32.1% to R$545.8 million in 1Q12, reflecting a 30.5% rise for Cemar. EBITDA rose 17.9% to R$132.5 million.
- Net income was R$48.1 million, down 40.9% from the prior year, while consolidated investments increased 47.4% to R$118.5 million
El documento define el reino protista como aquel formado por organismos eucariotas unicelulares. Sin embargo, algunos expertos también incluyen organismos pluricelulares. Existen diferencias en cuanto a qué organismos se consideran protistas. Algunos dividen el reino protista en tres subreinos: archaezoa, euglenozoa y protozoa, dependiendo de si tienen mitocondrias y capacidad fotosintética. La clasificación de los protistas es difícil debido a que en ocasiones se parecen a plantas o animales pero no son ni lo
Digital Persona's software and hardware products are revolutionizing how companies of all sizes are managing access, protecting data, and securing communications.For More Information, Visit : http://www.biometricdirect.co.uk/digitalpersona
TGI is Colombia's largest natural gas transportation company, owning 61% of the national pipeline network. This document provides an overview of TGI, including its history, financial and operating highlights from 2009-2014, and key updates. It also outlines TGI's expansion projects going forward to increase pipeline capacity. TGI has experienced stable growth and strong financial performance under the leadership of its controlling shareholder EEB.
This document summarizes a public meeting held by CTEEP in 2014. It discusses CTEEP's principal challenges, growth opportunities, and 3Q14 financial results. CTEEP aims to improve efficiency through optimization of O&M costs and investments, while pursuing indemnification from ANEEL. It also seeks to strengthen governance over its subsidiaries and capitalize on increased energy demand in Brazil through 2022. CTEEP's 3Q14 results show growth in net income, EBITDA, and RAP compared to the previous year.
Cambrian Mining Plc is a diversified mining group that operates in 3 continents and produces 4 commodities. In 2008, the company saw growth in coal sales and antimony-gold concentrate production. The acquisition of Coal International Plc consolidated Cambrian's status as a mining operator. Key transactions included the sale of Falls Mountain Coal Inc to Western Canadian Coal Corp. The CEO report discusses progress transforming Cambrian into an operating mining group through corporate activity and developing control systems, while growing operations.
Presentación de Resultados Ferrovial 2011Ferrovial
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments. Ferrovial is well positioned with a strong balance sheet and liquidity to invest in future growth opportunities
Revenues for Ecobank Transnational Incorporated increased 14% to $2.3 billion for the year ended December 31, 2014, while profit before tax rose 134% to $519.5 million. Total assets also grew 8% to $24.2 billion. The results demonstrate the benefits of Ecobank's diversified business model across sub-Saharan Africa, as the company increased loans and deposits while improving efficiency.
- Alupar reported financial results for 1Q13, with adjusted net revenue increasing 5.7% to R$281.1 million compared to 1Q12. Adjusted EBITDA was R$227.2 million in 1Q13, up 0.9% from 1Q12.
- In transmission, adjusted net revenue grew 5.7% to R$255.9 million. Transmission EBITDA increased 5.9% to R$231.5 million in 1Q13 compared to 1Q12.
- Generation net revenue increased 18.5% to R$45.6 million in 1Q13 versus 1Q12 due to the consolidation of new generation assets.
EEB is a leading energy company in Colombia and regional markets. It has a wide portfolio of energy businesses including electricity transmission, distribution and generation, as well as natural gas transportation and distribution. EEB has majority market shares across its different business segments in Colombia and regional markets like Peru and Guatemala. The company focuses on natural monopoly businesses and growing through controlled subsidiaries and projects in attractive markets. EEB has stable revenues from regulated businesses, accounting for 81% of its income. It has ambitious investment plans for 2013-2019 to expand its electricity and gas infrastructure through brownfield and greenfield projects.
In 2012, AES Eletropaulo saw a 1% increase in energy consumption but a decrease in operational metrics like SAIDI and SAIFI. Financial results were lower in 2012 with a 77% drop in EBITDA and 93% decrease in net income due to tariff reductions, higher energy costs, and one-time gains in 2011. The company invested R$831 million in 2012 focusing on maintenance, expansion and customer service. For 2013, AES Eletropaulo is focusing on efficiency initiatives to reduce costs and debt.
This document provides an overview of Enel S.p.A.'s 2014 interim results presentation. It discusses ongoing challenges in the Italian and Spanish energy markets and Enel's strategic actions, including ongoing asset disposal and decoupling of Iberian and Latin American operations. Key financial highlights show a decrease in revenues but stable recurring net income compared to the prior year.
1) Enel reported 2012 revenues of €84.9 billion, up 6.8% from 2011. EBITDA declined 4.9% to €16.7 billion due to lower results in generation and energy management in Italy.
2) Net income fell sharply to €865 million due to one-off losses, but ordinary net income declined more modestly by 14.9% to €3.455 billion.
3) Presentations will provide an update on Enel's 2013-2017 strategy and financial targets as well as discuss 2012 results and priorities for business divisions.
TGI is the largest natural gas transportation company in Colombia with a network of 3,957 km of pipelines. It has several expansion projects underway to increase capacity, such as the La Sabana compression plant and increasing capacity on the Cusiana-Apiay pipeline. TGI has a stable business model with 98% of revenues coming from long-term regulated tariffs. It maintains strong financial metrics with low leverage and interest coverage of nearly 6 times.
- ISA presented results for the 2nd quarter of 2013 and the first half of 2013, as well as its strategic review and plans.
- CTEEP's operating performance remained strong, with uptime indicators of 99.97% for transformers and 99.99% for transmission lines. However, financial results declined significantly from the same period last year.
- ISA aims to improve returns from current businesses, capture new growth opportunities with higher returns, and optimize its business and geographic portfolio through dynamic adjustments.
The AES Corporation reported strong financial results for the second quarter of 2007, with revenues increasing 17% to $3.3 billion compared to the second quarter of 2006. Net income increased to $247 million compared to $175 million in the second quarter of 2006. The company continued expanding its alternative energy business, acquiring wind farm projects in the US and China and completing construction of a 233 MW wind farm in Texas.
Enel presented its 2013 results and 2014-2018 strategic plan. Key points include:
- 2013 EBITDA of €15.8 billion, up 7.6% from 2012, driven by growth in Latin America and Enel Green Power.
- Net debt was reduced to €39.9 billion as of December 31, 2013, below the targeted €42 billion.
- The 2014-2018 plan focuses on growing in emerging markets, renewables, distribution and retail, leveraging existing platforms.
- Regulatory trends, technology innovation and customer focus will reshape the energy industry, with emerging markets and downstream activities becoming more important drivers of value.
The document provides an overview of Tele2's financial and operational performance in the second quarter of 2009. Some key highlights include record results across all regions, strong momentum in Russia, and healthy EBITDA contributions from Western European countries. Mobile services showed good customer intake in Sweden and Russia. The company continued focus on cost control and standardizing its product portfolio. Overall, Tele2 reported higher net sales, EBITDA, and margins compared to the same period last year.
- Investa Office Fund reported a net profit of $179.2 million for FY2015, down 2.4% from the previous year. FFO increased 4.5% to $169.9 million and NTA per unit was up 8.1% to $3.62.
- The portfolio valuation increased by $126 million due to cap rate compression, especially for assets with long lease terms. Leasing activity was strong with over 55,000 sqm leased across 124 deals.
- Capital management metrics remained robust with gearing down to 28.8% and weighted average debt maturity of 5.2 years. The weighted average cost of debt was 4.0%.
CEMAR's billed energy volume increased 12.5% year-over-year to 1,201 GWh in 2Q12. Energy losses decreased 1 percentage point to 20.4% of required energy. DEC and FEC rates increased 10.6% and 0.2% respectively. Adjusted EBITDA rose 4.3% to R$115.2 million while adjusted net income fell 11.6% to R$38.8 million. Total capex reached R$138.1 million, with R$101 million for CEMAR and R$37.1 million for the Light for All Program.
El documento contiene varios refranes y sus significados. Explica que el refrán "Antes de contar, escribe; y antes de firmar, recibe" aconseja ser precavidos y no contar logros hasta haberlos conseguido. También advierte sobre confiar en otros sin antes recibir una señal de buena fe. Otro refrán habla de los riesgos de tener aventuras amorosas con personas casadas. Un tercero aconseja no tomar demasiadas confianzas con personas desconocidas para evitar problemas.
Britney Spears es una cantante y bailarina estadounidense muy popular. Ha vendido más de 100 millones de discos en todo el mundo y es considerada la "Princesa del Pop". A lo largo de su carrera ha lanzado éxitos como "Baby One More Time", "Oops!... I Did It Again" y "Toxic" que se han convertido en himnos para varias generaciones de fans alrededor del mundo.
Cemar's operating and financial results for 1Q12 are presented. Key highlights include:
- Cemar's billed energy volume increased 12.2% to 1,119 GWh in 1Q12. Energy losses decreased 0.9 percentage points to 20.7%.
- Net operating revenues increased 32.1% to R$545.8 million in 1Q12, reflecting a 30.5% rise for Cemar. EBITDA rose 17.9% to R$132.5 million.
- Net income was R$48.1 million, down 40.9% from the prior year, while consolidated investments increased 47.4% to R$118.5 million
El documento define el reino protista como aquel formado por organismos eucariotas unicelulares. Sin embargo, algunos expertos también incluyen organismos pluricelulares. Existen diferencias en cuanto a qué organismos se consideran protistas. Algunos dividen el reino protista en tres subreinos: archaezoa, euglenozoa y protozoa, dependiendo de si tienen mitocondrias y capacidad fotosintética. La clasificación de los protistas es difícil debido a que en ocasiones se parecen a plantas o animales pero no son ni lo
Digital Persona's software and hardware products are revolutionizing how companies of all sizes are managing access, protecting data, and securing communications.For More Information, Visit : http://www.biometricdirect.co.uk/digitalpersona
Through a range of short TED-style talks introducing core theory; discussions, creative brainstorming and challenging entrepreneurial tasks, this module tests the practical application of business acumen for the 21st Century entrepreneur [and intrapreneur]
Mega events the olympics and their strategic uses - guest lecture (22 april 2...Dr. Michael B. Duignan
Michael Duignan gave a guest lecture on delivering Olympic mega-events and their impacts on local communities and businesses. He discussed how mega-events have evolved over time and are now used strategically for urban regeneration, place promotion, and legacy benefits. However, criticisms argue they can displace local residents and businesses through gentrification and limited community consultation. Using the 2012 London Olympics as a case study, he examined the regeneration of the Olympic park area but also the risks small businesses faced from rising rents and limited opportunities to influence plans. The lecture provided perspectives from local policymakers, event organizers, and business owners on exploiting opportunities and challenges of hosting mega-events.
The document discusses occlusion and dynamic occlusion. It defines occlusion as the relationship between all components of the masticatory system during normal function, parafunction, and dysfunction. Dynamic occlusion refers to the occlusal contacts made as the mandible moves relative to the maxilla, guided by muscles and anterior/posterior guidance mechanisms. It describes different occlusal contacts that occur in centric position, protrusive position, and lateral positions on working and non-working sides.
Management and Complexity Theory Lecture (Anglia Ruskin, Oct 2010)Dr. Michael B. Duignan
Presentation for Anglia Ruskin University 3rd year undergraduates, on the slightly left field concept of complexity theory, and concepts like the 'edge of chaos' and 'emergence' to management thought.
October, 2010 - Cambridge, UK
Blog: www.olympicresearcher.wordpress.com
Academic profile: http://www.anglia.ac.uk/ruskin/en/home/faculties/aibs/staff_profiles/all_staff/michael_duignan.html
This study examines the surgical management of ameloblastoma in 15 Taiwanese children between 1991-2004. The average patient age was 13.7 years. Most lesions were located in the mandible. Treatment methods included enucleation with peripheral ostectomy, decompression before enucleation, and segmental resection with bone grafting. The unicystic type lesions did not recur, while 3 of the multicystic cases recurred. Complications included numbness and facial deformity. The study concludes conservative surgery can achieve good results for ameloblastoma in children, and secondary surgery is effective for recurrence. Careful long-term follow-up is important.
Box can be used by marketing teams as a centralized content repository for storing assets. It allows for efficient collaboration on event planning through shared access to files and folders. Mobile access enables viewing of event binders to reduce printing costs. Overall Box improves productivity, speeds processes, and reduces data leakage risks for marketers compared to legacy systems or consumer file sharing tools.
Institucional 3 q13 novo padrão eng-finalEquatorialRI
Equatorial is an energy holding company focused on distribution and generation in Brazil. It owns majority stakes in CEMAR, a distribution company in Maranhão, and CELPA, a distribution company in Pará. The presentation provides an overview of Equatorial's portfolio companies, financial performance, and strategy. Equatorial has achieved significant improvements in operating and financial metrics at CEMAR through turnaround efforts. Its strategy is to increase returns through operational improvements and pursuing consolidation opportunities in the Brazilian energy sector.
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including details on its subsidiaries CEMAR and CELPA. It then reviews the company's financial performance from 2004-2013, highlighting improvements in EBITDA, investments, and debt levels. Charts are presented comparing operating and financial metrics for CEMAR and CELPA from 2004-2013. The document also summarizes CEMAR's turnaround, outlining initiatives to improve operations, management, and financial results.
The document provides an overview of Equatorial, a Brazilian energy company with segments in distribution, generation, and trading. It discusses the company profile, financial performance, portfolio, and value creation. Equatorial's main distribution assets are CEMAR in Maranhão and CELPA in Pará, which the document compares on metrics like energy sold, revenues, losses, and investments showing improvements at CEMAR following its turnaround. The summary highlights Equatorial's operations and the turnaround efforts at its CEMAR distribution segment.
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including its ownership of CEMAR and a majority stake in CELPA. Charts show key financial metrics like revenue, EBITDA, and investments for CEMAR and CELPA from 2004-2013. The document also reviews the turnaround efforts at CEMAR to reduce energy losses and improve operational and financial performance.
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- Two subsequent transactions were completed in April where Ideiasnet sold its stakes in two companies.
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Portfolio net revenues for Ideiasnet increased 37.4% in the second quarter of 2012 compared to the same period in 2011. EBITDA grew 3.4% while the EBITDA margin fell slightly. Net income before divestments remained stable. Several subsidiaries saw revenue and profitability increases, while others like Padtec experienced delays in investments and regulatory changes that impacted results. The document provides financial and operational highlights for Ideiasnet and its various business units for the second quarter and first half of 2012.
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- AES Brasil has over 6,000 employees serving over 6 million customers across its distributed energy, negotiated energy, and installed capacity totals.
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1) EBITDA was negatively impacted by €62 million in restructuring costs, but excluding this was €139 million for FY 2012.
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This document summarizes ACCIONA's improved outlook and actions taken to overcome regulatory impacts in Spain. It discusses ACCIONA's action plan to transform the company through cost reductions, debt paydown, asset sales, and partnerships. Key achievements in 2014 include reducing capex 50%, implementing a cost reduction plan, selling €0.9 billion in assets including a partnership with KKR, and paying down debt. The document outlines plans for further progress in 2015, focusing on balancing deleveraging, shareholder returns, and growth across its businesses.
The document summarizes Klöckner & Co SE's financial results for Q4 and FY 2012. Key points include:
- EBITDA was €139m for FY 2012 and €22m for Q4 2012, down from previous year due to challenging steel markets and restructuring costs.
- Sales increased 4.1% for FY 2012 but decreased 6.1% for Q4 2012.
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The document is a presentation by the CFO of Klöckner & Co SE, a leading multi-metal distributor, given on March 15, 2013. It summarizes Klöckner's financial results for 2012, which were impacted by challenging steel markets and restructuring costs, but shows that the restructuring program is ahead of plan. It also outlines Klöckner's strategy to focus on value-added services and higher-margin products in Europe and the US, as well as its strong balance sheet and debt reduction.
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This document provides an overview and agenda for a corporate presentation on CPFL Energia. Some key points:
- CPFL Energia is a major player in Brazil's electricity sector with a market capitalization of over $10 billion and leadership positions in generation, distribution, and energy services.
- It has 8 distribution companies serving over 7.5 million customers. Distribution accounts for over 50% of its adjusted EBITDA.
- In generation, it has over 2,000 MW of installed capacity, mostly hydro. It is Brazil's largest producer of alternative energy. Generation accounts for about 25% of adjusted EBITDA.
- Other business lines include competitive power supply and energy services. The presentation
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This document summarizes a public meeting held by CTEEP in 2014. It includes the following:
- An overview of CTEEP's principal challenges, growth opportunities, and 3Q14 financial results.
- CTEEP's vision for 2020 focuses on operational efficiency, investment profitability, governance of subsidiaries, and reducing contingencies.
- CTEEP's annual allowed revenue (RAP) increased by 21.7% from 2013/14 to 2014/15 due to inflation adjustments and tariff reviews.
- CTEEP's net income increased in the first nine months of 2014 compared to the same period in 2013, with EBITDA and EBITDA margin also increasing.
O documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, com foco em distribuição e geração. Detalha os ativos da empresa, incluindo a CEMAR, uma distribuidora no Maranhão, e a recente aquisição da CELPA, no Pará. Também descreve o histórico de desempenho financeiro da Equatorial, com crescimento contínuo de receita e EBITDA, além de redução do endividamento.
A apresentação institucional fornece uma visão geral da Equatorial Energia, incluindo seu foco em distribuição e geração de energia elétrica no Brasil, sua estrutura acionária e desempenho financeiro. A empresa tem investimentos nas distribuidoras CEMAR, CELPA e Light, além de duas usinas termelétricas. Sua estratégia é agregar valor por meio de aquisições e reestruturações operacionais e financeiras.
Apresentação da Reunião Pública Apimec-Rio 2011CelpaRI
O documento apresenta os resultados operacionais e financeiros da Equatorial Energia no 3T11, incluindo:
1) Crescimento de 6,9% no consumo de energia na CEMAR em relação ao 3T10;
2) Redução das perdas de energia da CEMAR para 21,2% no 3T11;
3) Aumento de 22,3% no lucro líquido ajustado da Equatorial no 3T11 em relação ao ano anterior.
O documento apresenta os resultados financeiros e operacionais da Equatorial Energia no primeiro trimestre de 2012. Destaca-se o crescimento de 12,2% no volume de energia faturada, aumento de 17,9% no EBITDA e de 40,9% no lucro líquido em relação ao mesmo período do ano anterior. Além disso, informa sobre os investimentos realizados e captação de recursos pela Geramar.
O documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, focada em distribuição e geração de energia. Detalha seus principais ativos, como a CEMAR, segunda maior distribuidora do Nordeste, e duas usinas termelétricas no Maranhão. Também resume sua performance financeira positiva, com crescimento contínuo de receita e redução da alavancagem nos últimos anos.
O documento apresenta os resultados financeiros e operacionais da Equatorial no 2T12. Destaca-se o crescimento de 12,5% no volume de energia faturada e a redução de 1 p.p. nas perdas de energia. O EBITDA ajustado caiu 4,3% e o lucro líquido ajustado teve queda de 11,6%. Os investimentos totais aumentaram 24,8% e os da CEMAR atingiram R$138,1 milhões.
O documento apresenta uma visão geral da Equatorial Energia, incluindo sua estrutura acionária, estratégia corporativa, histórico, equipe de gestão e desempenho financeiro. A Equatorial é uma holding com investimentos em distribuição e geração de energia elétrica no Brasil, controlada pelo fundo PCP da Vinci Partners. Seus principais ativos são a distribuidora CEMAR no Maranhão e as usinas termelétricas Vila Velha. O documento destaca o crescimento da receita e redução da alavancagem
O documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, controlada pelo Fundo PCP. Apresenta os principais investimentos da Equatorial, como a distribuidora CEMAR no Maranhão, e duas usinas termelétricas. Detalha também o histórico, estrutura acionária, estratégia e desempenho financeiro da empresa.
Este documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, com foco em distribuição e geração. Apresenta os principais ativos da companhia, como a distribuidora CEMAR no Maranhão, as usinas termelétricas Geramar e a distribuidora CELPA no Pará. Detalha também o histórico da Equatorial, sua estrutura acionária e a estratégia de criação de valor por meio de reestruturações operacionais e financeiras em suas investidas.
O documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, com foco em distribuição e geração. Detalha os ativos da empresa, incluindo a CEMAR, uma distribuidora no Maranhão, e a recente aquisição da CELPA, no Pará. Também descreve o histórico de desempenho financeiro da Equatorial, com crescimento contínuo de receita e EBITDA, além de redução do endividamento.
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After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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4. 4
Equatorial Overview
Holding company with investments in the energy sector, focused on distribution and generation
Differentiated experience in operating and financial restructuring of companies in the Brazilian energy
sector
Controlled by PCP Fund, investment vehicle owned by former partners of Banco Pactual
and managed by Vinci Partners.
Current investments:
• Distribution company in the State of
Maranhão
• 2nd largest distribution company in the
Northeast of Brazil, in terms of
concession area*
• 4th largest distribution company in the
Northeast of Brazil, in terms of billed
energy*
• Annual gross revenues of R$2.6 billion in
2011.
• Company responsible for implementing
and operating the Tocantinópolis and
Nova Olinda thermoelectric plants in the
State of Maranhão
• Fuel: high-viscosity heavy oil.
• Joint installed capacity of 331 MW
• 240 MW of energy sold at the A-3 auction
in 2007.
• Start-up: January 2010
*Source: ABRADEE
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
PI
MAPA
AP
TO
CE RN
PE
AL
SE
MS
RJ
ES
DF
PB
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
PI
MAPA
AP
TO
CE RN
PE
AL
SE
MS
RJ
ES
DF
PB
• Electricity trading company and
developer of new products and services
• Broker the purchase and sale of energy
without physical delivery
• Custom of solutions to
satisfy consumers’ specific
needs (consumers and generators)
• Experienced executives and well-
recognized in the trading market
5. História da Equatorial
Mai. 2004 Mar. 2006 Abr. 2008
Aquisição da
CEMAR
Fundo PCP passa
a ter controle
compartilhado da
Equatorial
IPO da Equatorial
Controle
concentrado no
Fundo PCP
Incorporação de
parte da Light,
com 25% do bloco
de controle
Equatorial migra
para o “Novo
Mercado”
Out. 2008
Aquisição de 25%
da Geramar
Abr. 2010
FIP PCP vende
sua participação
indireta na Light
Cisão da
Equatorial
Dez. 2009 Abr. 2010 Ago. 2011
Equatorial
adquire 51% da
Sol Energias,
comercializadora
Abr. 2006 Dez. 2007 Fev. 2008 Abr. 2008 Out. 2008 Dez. 2009 Abr. 2010 Ago. 2011 Fev. 2012
Equatorial adquire
50% da Vila Velha
Termoelétricas,
geradora
6. Aug. 2011
Equatorial
acquires 51% of
Sol Energias,
energy trader
CEMAR’s acquistion
PCP Fund acquires a
controlling stake of
Equatorial
Equatorial’s IPO
Control concentrated
in PCP Fund
Incorporation of a
controlling stake of
Light
Equatorial migrates to
the “Novo Mercado”
Acquisition of 25%
of Geramar
FIP PCP sells its
indirect stake in
Light
Equatorial’s
spin off
Equatorial’s History
May. 2004 Mar. 2006 Abr. 2008 Out. 2008
Abr. 2010
Dez. 2009 Abr. 2010 Ago. 2011Apr. 2006 Dec. 2007 Feb. 2008 Abr. 2008 Oct. 2008 Dec. 2009 Apr. 2010 Aug. 2011 Feb. 2012
Equatorial
acquires 50% of
Vila Velha
Termoelétricas, a
pre-operational
company
7. 7
Ownership Structure – Current
• Total no. of shares:
• Share price*:
• Free float:
• ADTV90:
109,611,778
R$ 13.70
46.5% / R$698 MM
R$ 3.954 MM
*On 31/03/12
ADTV90 represents the average volume traded in the past 90 days
Vila Velha
Termoelétricas
Equatorial
Energia
Other ProjectsGeramarCEMAR
PCP Latin America
Power
53.7%
65.1% 25%
Equatorial
Soluções
Minorities
46.3%
100%
51%
Sol Energias
50%
8. 8
Corporate Strategy
CEMAR
Increased returns through outstanding financial and
operating performance
Consolidation of
distributors in Brazil and
Latin America
Acquistion of full or shared control
Added value through financial and operational restructuring, synergy
gains and loss reduction
Geramar and other
investments in
generation
Brazil’s investment needs in generation over the next few years will
create growth opportunities for Equatorial.
Geramar thermal plants present an above average rate of return
9. 9
Firmino Sampaio
CEO
• CEO of Eletrobrás (1996-2001), CEO and CFO of COELBA (1984-1996)
• Former member of the boards of directors of Furnas, Itaipu Binacional, CHESF, Eletrosul, Gerasul, CEMIG, ENERSUL, CEMAT and Light
• Degree in Economics at the Federal University of Bahia and postgraduate degree in Industrial Planning at SUDENE/IPEA/FGV
Management
• CEO of Equatorial from March, 2007 until April, 2010. CFO of CEMAR (2004-2006) and CEO of CEMAR (2007-2010). Currently, he is a partner of Vinci
Partners.
• Worked for 6 years at Banco Pactual in the Principal Investments and Corporate Finance divisions
• Degree in Computer Science at PUC-RJ and in Business Administration at IBMEC. CFA chartered by CFA Institute in 2003. Concluded the Owner and
President Management Program of Harvard Business School in 2008
Carlos Piani
Chairman of the Board of
Directors
Eduardo Haiama
CFO & IRO
Tinn Amado
Regulatory Affairs
Officer
Management is composed by professionals with substantial experience in the financial, operational and regulatory areas
• CFO and IRO of Equatorial since 2008. IRO of CEMAR since 2008.
• Between 2004 and 2008, Mr. Haiama worked at Banco UBS Pactual on the equities’ research team as senior analyst of the utilities segment.
• Degree in Electric Engineering at USP – University of São Paulo (Escola Politécnica) and MBA at Duke University. CFA chartered by CFA Institute in
2004
• Regulatory Affairs Officer of Equatorial since April 2008 and of CEMAR since August 2006
• Consulting partner of Amado Consultoria, providing advisory services in economic regulation, also worked at ANEEL for 3 years as an analyst for the
Distribution Service Regulation Department
• Degree in Electrical Engineering at the Federal University of Itajubá (UNIFEI) and a Master’s degree in Regulation and Protection of Fair Trading at
Brasília University (UnB)
Ana Marta Horta Veloso
Officer
• Officer of Equatorial since November 2008.
• Worked as an executive at Banco UBS Pactual S.A., from 2006 untill 2008 . Before joining Pactual, she worked for 12 years at the Brazilian Development
Bank (BNDES), where she held several executive positions, mostly in the capital market area.
• Degree in Economics at the Federal University of Minas Gerais (UFMG) and Master’s degree in Industrial Economics at the Federal University of Rio de
Janeiro (UFRJ).
10. 10
Vinci Partners
PRIVATE EQUITY PUBLIC EQUITIES MULTIMARKET
• In 2001, Banco Pactual created a Principal
Investment Unit to manage the partnership’s excess
capital and diversify its investments;
• In 2006, with the sale of Banco Pactual to UBS, part
of the proceeds from the sale was reinvested in the
Principal Investment Unit, which was renamed PCP;
• In 2009, with the sale of Pactual to BTG, Vinci
Partners was created, an independent asset
management, composed by Pactual’s ex-partners;
• Today, Vinci has almost US$ 3.0 billion under
management (75% own capital), investing in Private
Equity, Public Equities and Multimarket Funds.
History
PCP Fund
LONG TERM MEDIUM TERM SHORT TERM
12. 12
Since 2004, Equatorial has been presenting an excellent financial performance.
Net Operating Revenues
R$ million
EBITDA (R$ million)
Financial Performance
(*) As from 2010, all values are according to IFRS
526
810 879
999
524
1,756
1,148
629
1,912
1,347
1,358
2004 2005 2006 2007 2008 2009 2010 (*) 2011 1Q12
CEMAR Light Geramar Equatorial Soluções
2,346
2,506
36
1,799
1,981
39
546
11 - S
10 - G
2004 2005 2006 2007 2008 2009 2010 (*) 2011 1Q12
Net Revenue 526 629 810 879 2.346 2.506 1.799 1.981 546
EBITDA 85 189 341 379 784 757 510 504 133
% EBITDA 16% 30% 42% 43% 33% 30% 28% 25% 24%
341
379 416
482
287
130
500
85
470
189
368
2004 2005 2006 2007 2008 2009 2010 (*) 2011 1Q12
CEMAR Light Geramar
784 757
504
24
510
29
133
3
13. 13
Distributions to Shareholders/Net Income
R$ million
Financial Performance
* 2008 figure includes R$82 million in Capital Reduction
(*) The dividends for the fiscal year 2011 were submitted to AEGM to be held on March 19, 2012.
2004 2005 2006 2007 2008 2009 2010 2011
Payout 0% 24% 90% 99% 95% 25% 104% 32%
Dividend Yield N/A N/A 10% 13% 27% 3% 18% 4%
2004 2005 2006 2007 2008 2009 2010 2011 1Q12
Consolidated Dividends (R$ MM) - 54 108 151 284 51 197 50 (*) -
CEMAR - 54 108 112 91 58 200 94 (*) -
Light - - - 27 111 56 - - -
Capital Reduction (holding) - - - - 82 - - - -
Net Income (R$ MM) 123 229 119 153 300 207 189 160 48
CEMAR (31) 234 116 117 148 129 279 248 48
Geramar - - - - - - 6 11 0.1
Light - - - - 130 79 - - -
-
108
151
284
197
50 -
123
229
119
153
207
189
160
485154
300
2004 2005 2006 2007 2008 2009 2010 2011 1Q12
Dividends Net Income
14. 14
Consolidated Net Debt and Net
Debt/EBITDA (*)
R$ million / Times
Improved operating performance and financial restructuring led to a
significant reduction in leverage,
Financial Performance
(*) Consolidated (65.1% CEMAR, 25.0% Geramar and 13.03% Light). Light is no longer consolidated as from 2010.
221 198
402
684
735
499
77
689
5
4.0
1.6
2.02.0
1.5
0.0 0.3
0.9
1.6
2004 2005 2006 2007 2008 2009 2010 2011 1Q12
15. 15
Financial Performance
made a longer debt amortization schedule possible…
Debt Amortization Schedule - R$ MM
Short Term 2013 2014 2015 2016 After 2016 Total
CEMAR 382 169 163 156 105 298 1,271
Geramar 17 - - - - 92 108
Total 399 169 163 156 105 389 1,380
382.1
162.7
155.5
104.5
297.5
108.2
-
-
-
-
91.5
169.1
1,271.3
16.7
Gross Debt Short Term 2013 2014 2015 2016 After 2016
CEMAR
Geramar
18. 18
47%
20%
23%
10%
88%
5%
7%
0.5%
Residential Commercial Industrial Others
CEMAR: Highlights
MA
Distribution company in the State of Maranhão
1.9 million clients (4th largest in the Northeast region)*
Billed energy (2011): 4,372 GWh (5th largest in the
Northeast)*
Annual gross revenues of R$ 2.6 billion in 2011.
Energy Sales (2011)
Clients (2011)
1.9 million
4,372 GWh
*Source: ABRADEE
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
PI
MA
PA
AP
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
PI
MA
PA
AP
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
19. 19
CEMAR: History
CEMAR under control of
Equatorial
1958-
Jun. 2000
Aug.2000-
Aug.2002
Aug.2002-May
2004
May 2004-
Present
State owned
CEMAR under PPL Global’s
control
ANEEL’s intervention
CEMAR under control of
Equatorial
27. 27
Geramar: Highlights
• Two thermoelectric power plants fueled by high-viscosity heavy oil.
• Location: Miranda do Norte, Maranhão.
• Joint installed capacity of 331 MW.
• 240 MW of energy sold at the A-3 auction in 2007.
• Total fixed annual revenue (for both plants) of R$ 136 million* (in R$ of 2007), during 15 years.
*Revenues adjusted by inflation (IPCA)
• Start-up: January of 2010
• Total CAPEX: R$ 550 million.
• Equatorial’s share of CAPEX (25%): R$137 million. Equity = approximately R$45 million.
29. 29
Financial strength and solid
management team with
turnaround experience
Growth prospects and
consolidation opportunities
Result-oriented management
model
High level of
Corporate Governance
Agenda
30. 30
Firmino Sampaio
CEO
Eduardo Haiama
CFO and IRO
Thomas Newlands
IR Analyst
Phone 1: 55 21 3206-6635
Phone 2: 55 21 3206-6607
E-mail: ir@equatorialenergia.com.br
Website: http://www.equatorialenergia.com.br/ir
Contacts
31. 31
► This presentation may contain forward-looking statements, which are subject to risks and uncertainties, as they
were based on the expectations of Company’s management and on available information. These prospects include
statements concerning the Company’s current intensions or expectations for our clients.
► Forward-looking statements refer to future events which may or may not occur. Our future financial situation,
operating results, market share and competitive positioning may differ substantially from those expressed or
suggested by said forward-looking statements. Many factors and values that can establish these results are
outside Company’s control or expectation. The reader/investor is prevented not to completely rely on the
information above.
► The words “believe", “can", “predict", “estimate", “continue", “anticipate", “intend", “forecast" and similar words, are
intended to identify estimates. Such estimates refer only to the date in which they were expressed, therefore the
Company has no obligation to update said statements.
► This presentation does not consist of offering, invitation or request of subscription offer or purchase of any
marketable securities. And, this statement or any other information herein, does not consist of a contract base or
commitment of any kind.
Disclaimer