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.
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.
This document presents the 2012 results and capital market performance of CTEEP, a Brazilian electricity transmission company. It summarizes CTEEP's key operational and financial results for 2012, including a 6.8% decrease in net operating revenue, a 3% decrease in EBITDA, and a 7.8% decrease in net income compared to 2011. It also provides details on CTEEP's capital structure, debt levels, investments, and trading activity on the stock exchange in 2012.
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.
The document summarizes Alupar Investimento S.A.'s 1Q15 results. Key highlights include adjusted net revenue increasing 10.3% year-over-year to R$357.6 million. EBITDA grew 12.5% to R$316 million and net income rose 1.6% to R$178.2 million. Transmission saw adjusted net revenue and EBITDA increase 11.7% and 12.3% respectively. Generation reported higher net revenue and lower net income compared to 1Q14. Net debt increased 36% to R$3.379 billion at the end of 1Q15.
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.
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.
Full year results presentation (final excluding script)Company Spotlight
- Total revenue for Wood Group increased 3% to $7.064 billion in 2013, while total EBITA rose 16% to $533 million. Adjusted diluted EPS also increased 16% to 98.6 cents.
- The Engineering segment saw growth across all three business areas. PSN delivered strong growth led by the US shale business. GTS performance was mixed, with maintenance growth offsetting a fall in power solutions, while the Siemens JV is expected to improve prospects.
- The outlook for 2014 remains positive overall, with further growth anticipated, though Engineering EBITA is forecast to be lower due to slower major project awards. PSN is positioned to deliver good growth led by US shale.
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.
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.
This document presents the 2012 results and capital market performance of CTEEP, a Brazilian electricity transmission company. It summarizes CTEEP's key operational and financial results for 2012, including a 6.8% decrease in net operating revenue, a 3% decrease in EBITDA, and a 7.8% decrease in net income compared to 2011. It also provides details on CTEEP's capital structure, debt levels, investments, and trading activity on the stock exchange in 2012.
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.
The document summarizes Alupar Investimento S.A.'s 1Q15 results. Key highlights include adjusted net revenue increasing 10.3% year-over-year to R$357.6 million. EBITDA grew 12.5% to R$316 million and net income rose 1.6% to R$178.2 million. Transmission saw adjusted net revenue and EBITDA increase 11.7% and 12.3% respectively. Generation reported higher net revenue and lower net income compared to 1Q14. Net debt increased 36% to R$3.379 billion at the end of 1Q15.
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.
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.
Full year results presentation (final excluding script)Company Spotlight
- Total revenue for Wood Group increased 3% to $7.064 billion in 2013, while total EBITA rose 16% to $533 million. Adjusted diluted EPS also increased 16% to 98.6 cents.
- The Engineering segment saw growth across all three business areas. PSN delivered strong growth led by the US shale business. GTS performance was mixed, with maintenance growth offsetting a fall in power solutions, while the Siemens JV is expected to improve prospects.
- The outlook for 2014 remains positive overall, with further growth anticipated, though Engineering EBITA is forecast to be lower due to slower major project awards. PSN is positioned to deliver good growth led by US shale.
Comgas reported strong financial and operational results for the first half of 2012. Key highlights included connecting 60 thousand new residential customers, investing R$268 million in the first semester, a 20% increase over 2011, and extending its natural gas network by 555 km. EBITDA increased 18.7% to R$318.9 million compared to the first half of 2011. A sale agreement was also signed for the sale of a 60.1% stake in Comgas to Cosan for R$3.4 billion, pending regulatory approval.
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
The document summarizes the turnaround story of GTL Infrastructure Limited (GTL Infra) over the past few years. It highlights that GTL Infra has focused on a "more and less" approach of growing revenue, optimizing costs, strengthening processes, and reducing liabilities. This has led to increased revenue and EBITDA, higher tenant numbers, and significantly reduced debt levels. Key achievements include reducing debt from US$2.054 billion to US$747 million and optimizing operating costs.
CCR reported strong financial results for 4Q11 and full year 2011. Key highlights include:
- Traffic growth of 4.4% in 4Q11 and 10.8% for 2011. Electronic toll collections reached 64.4% in 4Q11.
- EBITDA growth of 31.3% in 4Q11 and 29.9% for 2011, with EBITDA margins expanding significantly.
- Net income increased 1781.9% in 4Q11 and 33.9% for 2011, benefiting from increased traffic and capital discipline.
The Chairman notes that ABC Holdings performed well in 2010, reflecting the improved economic environment across its markets following the global financial crisis recovery. All of the Group's banking operations reported profits for the first time. Retail banking is now offered and expected to contribute positively to income going forward. Overall, economic growth in Sub-Saharan Africa was revised upwards to 5% in 2010 and is projected to accelerate to 5.5% in 2011, though risks remain from commodity prices and political instability. The performance reflects the Group's decision to curtail lending during the recession, which reduced credit impairments.
- BR Properties reported strong financial and operating results for 3Q13, with net revenues increasing 41% and adjusted EBITDA up 47% compared to 3Q12.
- The company completed the sale of 3 assets for R$482 million at an average cap rate of 8.5%, reducing its loan-to-value ratio.
- Leasing spreads remained positive at 1.7% on average for the quarter, and financial and physical vacancy dropped to 9.7% and 4.9%, respectively, excluding recently delivered properties.
- BR Properties continues to improve its balance sheet, lowering its net debt to adjusted EBITDA ratio to 5.2x and extending its debt maturity profile.
The document provides an overview of Empresa de Energía de Bogotá (EEB) as a regional leader in the energy sector. It discusses EEB's operations in transportation and distribution of energy with involvement in other areas. EEB has a focus on natural monopolies and growth through controlled subsidiaries. Financial highlights show stable and growing income and EBITDA with ambitious projects under execution to consolidate EEB's strategy.
This document provides an overview of Spectra Energy Corp's ongoing segment and other EBITDA for the second quarter and year-to-date 2008 compared to the same periods in 2007. It shows that total ongoing segment and other EBITDA increased 23% to $765 million for Q2 2008 from $625 million in Q2 2007, and increased 27% to $1,679 million YTD 2008 from $1,324 million YTD 2007. Breakdowns by segment show increases for U.S. Transmission, Western Canada Transmission & Processing, and Field Services, while Distribution and Other were relatively flat. Reconciliations provide additional details on EBITDA calculations for each segment.
This document provides a quarterly financial report on ongoing EBITDA for Spectra Energy Corp for 4Q 2007. It shows:
- Total ongoing segment and other EBITDA was $794 million for 4Q 2007, up 24% from $642 million in 4Q 2006.
- The U.S. Transmission segment had the highest EBITDA at $285 million, followed by Field Services at $247 million.
- EBITDA increased across all segments compared to the prior year, except for the "Other" segment which decreased to -$46 million EBITDA.
This document provides a summary of financial and operational results for Companhia de Gás de Sao Paulo (COMGÁS) for the year ending December 31, 2012. Some key highlights include record volumes distributed, investments, connections, and network extensions. COMGÁS also saw record revenue but an extraordinary tariff adjustment was authorized to offset rising gas costs. Net income increased substantially over 2011 despite the adjustment. Financial indicators show improved returns and margins year-over-year.
- The company held its Annual General Meeting on June 27, 2014 where they elected a new 9 member Board of Directors with strong governance experience.
- Actions were taken in 2014 to improve operations and costs, including reducing staff and product portfolio as well as implementing new ERP systems.
- Trends resulting from these transformations include a strategic focus on long term results, gradual resumption of performance, and pursuit of maximizing shareholder value through structural changes.
- A capital increase was completed, raising a total of BRL 67.078.925,46 through the issuance of new common and preferred shares.
Banco ABC - 3rd Quarter 2009 Earnings PresentationBanco ABC Brasil
Banco ABC Brasil reported financial results for the third quarter of 2009. Some key highlights include:
- The credit portfolio reached BRL 7.4 billion, an increase of 12.5% over the previous quarter. Credit quality improved with the non-performing loan ratio falling to 0.6%.
- Net income totaled BRL 38.1 million, up 7.7% from the previous quarter. BRL 16.4 million in interest on equity was paid to shareholders.
- The return on average equity was 13.0% for the quarter, up from 12.0% in the prior quarter.
- The credit portfolio rating remained strong with 95% rated AA-C
The document is an earnings report for Banco PINE for the second quarter of 2009. It summarizes the company's financial performance including a 6.6% increase in loan portfolio. Operating income grew 11.9% and net income grew 8.6% compared to the previous quarter. The loan portfolio saw increased focus on corporate operations, while the individual payroll loan portfolio declined. Non-performing loans remained below 2% and funding levels increased, with deposits up 23.5% over the previous quarter.
This document summarizes Duke Energy's financial performance in the 4th quarter and full year of 2006. Key points include:
- Ongoing diluted EPS for 2006 was $1.81, up from $1.73 in 2005, due to the addition of Cinergy offset by lower results at Crescent and International.
- Commercial Power results declined due to purchase accounting charges related to the Cinergy merger and losses from Midwest gas plants.
- International Energy results decreased because of lower earnings at National Methanol.
- Interest expense increased in 4Q06 primarily due to the Cinergy merger. The effective tax rate also declined due to tax settlements and other factors.
Royal Dutch Shell reported third quarter 2008 earnings of $10.9 billion, up 71% from the prior year quarter. Exploration & Production earnings were $5.5 billion, up 65% due to higher oil and gas prices partly offset by lower production volumes. Production was down 7% to 2.85 million barrels of oil equivalent per day due to hurricane impacts in the Gulf of Mexico and maintenance turnarounds in the North Sea. The company also acquired Duvernay Oil Corp, a Canadian tight gas company, for $5.5 billion during the quarter.
The document provides a history and financial update of the Keller Tax Increment Reinvestment Zone No. 1 (TIRZ) in Keller, Texas. It discusses the establishment of the TIRZ in 1998 and amendments made to the capital improvement plan, increasing it to $32.95 million. It also summarizes the TIRZ's debt issuances from 1999-2010 to fund capital projects and refund bonds at lower interest rates. Additionally, it reviews the TIRZ's incremental property value captures, revenues received, debt payments made, and ending fund balances from 1999-2012.
The document discusses Advanced Emissions Solutions' Q2 2016 earnings call. It provides highlights such as solid execution against strategic goals, increased distributions from the Refined Coal business, transitioning an investor to a higher tonnage facility, and ongoing review of strategic alternatives for the Emissions Control business. Financial data shows declines in revenues but improvements in expenses and net income. The Refined Coal business continues to be a significant contributor to earnings through royalty income and equity investments.
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.
- Equatorial's net operating revenues nearly doubled to R$1.1 billion in 2Q13 due to the consolidation of CELPA. EBITDA decreased 46% to R$64 million due to thermal plant dispatch and CELPA consolidation. Adjusted EBITDA excluding regulatory assets was up 74.1% to R$153 million.
- CEMAR's energy sales grew 4.2% while losses decreased slightly. CELPA's energy sales increased 6.4% with losses up 16.9%. Both companies saw improvements in outage indices.
- In August, ANEEL approved a 9.18% average tariff increase for CELPA effective August 2013. CEMAR's
- Equatorial's net operating revenues nearly doubled to R$1.1 billion in 2Q13 due to the consolidation of CELPA. EBITDA decreased 46% to R$64 million due to thermal plant dispatch and CELPA consolidation. Adjusted EBITDA excluding regulatory assets was up 74.1% to R$153 million.
- CEMAR's energy sales grew 4.2% while losses decreased slightly. CELPA's energy sales increased 6.4% with losses up 16.9%. Both companies saw improvements in outage indices.
- In August, ANEEL approved a 9.18% average tariff increase for CELPA effective August 2013. CEMAR's
Comgas reported strong financial and operational results for the first half of 2012. Key highlights included connecting 60 thousand new residential customers, investing R$268 million in the first semester, a 20% increase over 2011, and extending its natural gas network by 555 km. EBITDA increased 18.7% to R$318.9 million compared to the first half of 2011. A sale agreement was also signed for the sale of a 60.1% stake in Comgas to Cosan for R$3.4 billion, pending regulatory approval.
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
The document summarizes the turnaround story of GTL Infrastructure Limited (GTL Infra) over the past few years. It highlights that GTL Infra has focused on a "more and less" approach of growing revenue, optimizing costs, strengthening processes, and reducing liabilities. This has led to increased revenue and EBITDA, higher tenant numbers, and significantly reduced debt levels. Key achievements include reducing debt from US$2.054 billion to US$747 million and optimizing operating costs.
CCR reported strong financial results for 4Q11 and full year 2011. Key highlights include:
- Traffic growth of 4.4% in 4Q11 and 10.8% for 2011. Electronic toll collections reached 64.4% in 4Q11.
- EBITDA growth of 31.3% in 4Q11 and 29.9% for 2011, with EBITDA margins expanding significantly.
- Net income increased 1781.9% in 4Q11 and 33.9% for 2011, benefiting from increased traffic and capital discipline.
The Chairman notes that ABC Holdings performed well in 2010, reflecting the improved economic environment across its markets following the global financial crisis recovery. All of the Group's banking operations reported profits for the first time. Retail banking is now offered and expected to contribute positively to income going forward. Overall, economic growth in Sub-Saharan Africa was revised upwards to 5% in 2010 and is projected to accelerate to 5.5% in 2011, though risks remain from commodity prices and political instability. The performance reflects the Group's decision to curtail lending during the recession, which reduced credit impairments.
- BR Properties reported strong financial and operating results for 3Q13, with net revenues increasing 41% and adjusted EBITDA up 47% compared to 3Q12.
- The company completed the sale of 3 assets for R$482 million at an average cap rate of 8.5%, reducing its loan-to-value ratio.
- Leasing spreads remained positive at 1.7% on average for the quarter, and financial and physical vacancy dropped to 9.7% and 4.9%, respectively, excluding recently delivered properties.
- BR Properties continues to improve its balance sheet, lowering its net debt to adjusted EBITDA ratio to 5.2x and extending its debt maturity profile.
The document provides an overview of Empresa de Energía de Bogotá (EEB) as a regional leader in the energy sector. It discusses EEB's operations in transportation and distribution of energy with involvement in other areas. EEB has a focus on natural monopolies and growth through controlled subsidiaries. Financial highlights show stable and growing income and EBITDA with ambitious projects under execution to consolidate EEB's strategy.
This document provides an overview of Spectra Energy Corp's ongoing segment and other EBITDA for the second quarter and year-to-date 2008 compared to the same periods in 2007. It shows that total ongoing segment and other EBITDA increased 23% to $765 million for Q2 2008 from $625 million in Q2 2007, and increased 27% to $1,679 million YTD 2008 from $1,324 million YTD 2007. Breakdowns by segment show increases for U.S. Transmission, Western Canada Transmission & Processing, and Field Services, while Distribution and Other were relatively flat. Reconciliations provide additional details on EBITDA calculations for each segment.
This document provides a quarterly financial report on ongoing EBITDA for Spectra Energy Corp for 4Q 2007. It shows:
- Total ongoing segment and other EBITDA was $794 million for 4Q 2007, up 24% from $642 million in 4Q 2006.
- The U.S. Transmission segment had the highest EBITDA at $285 million, followed by Field Services at $247 million.
- EBITDA increased across all segments compared to the prior year, except for the "Other" segment which decreased to -$46 million EBITDA.
This document provides a summary of financial and operational results for Companhia de Gás de Sao Paulo (COMGÁS) for the year ending December 31, 2012. Some key highlights include record volumes distributed, investments, connections, and network extensions. COMGÁS also saw record revenue but an extraordinary tariff adjustment was authorized to offset rising gas costs. Net income increased substantially over 2011 despite the adjustment. Financial indicators show improved returns and margins year-over-year.
- The company held its Annual General Meeting on June 27, 2014 where they elected a new 9 member Board of Directors with strong governance experience.
- Actions were taken in 2014 to improve operations and costs, including reducing staff and product portfolio as well as implementing new ERP systems.
- Trends resulting from these transformations include a strategic focus on long term results, gradual resumption of performance, and pursuit of maximizing shareholder value through structural changes.
- A capital increase was completed, raising a total of BRL 67.078.925,46 through the issuance of new common and preferred shares.
Banco ABC - 3rd Quarter 2009 Earnings PresentationBanco ABC Brasil
Banco ABC Brasil reported financial results for the third quarter of 2009. Some key highlights include:
- The credit portfolio reached BRL 7.4 billion, an increase of 12.5% over the previous quarter. Credit quality improved with the non-performing loan ratio falling to 0.6%.
- Net income totaled BRL 38.1 million, up 7.7% from the previous quarter. BRL 16.4 million in interest on equity was paid to shareholders.
- The return on average equity was 13.0% for the quarter, up from 12.0% in the prior quarter.
- The credit portfolio rating remained strong with 95% rated AA-C
The document is an earnings report for Banco PINE for the second quarter of 2009. It summarizes the company's financial performance including a 6.6% increase in loan portfolio. Operating income grew 11.9% and net income grew 8.6% compared to the previous quarter. The loan portfolio saw increased focus on corporate operations, while the individual payroll loan portfolio declined. Non-performing loans remained below 2% and funding levels increased, with deposits up 23.5% over the previous quarter.
This document summarizes Duke Energy's financial performance in the 4th quarter and full year of 2006. Key points include:
- Ongoing diluted EPS for 2006 was $1.81, up from $1.73 in 2005, due to the addition of Cinergy offset by lower results at Crescent and International.
- Commercial Power results declined due to purchase accounting charges related to the Cinergy merger and losses from Midwest gas plants.
- International Energy results decreased because of lower earnings at National Methanol.
- Interest expense increased in 4Q06 primarily due to the Cinergy merger. The effective tax rate also declined due to tax settlements and other factors.
Royal Dutch Shell reported third quarter 2008 earnings of $10.9 billion, up 71% from the prior year quarter. Exploration & Production earnings were $5.5 billion, up 65% due to higher oil and gas prices partly offset by lower production volumes. Production was down 7% to 2.85 million barrels of oil equivalent per day due to hurricane impacts in the Gulf of Mexico and maintenance turnarounds in the North Sea. The company also acquired Duvernay Oil Corp, a Canadian tight gas company, for $5.5 billion during the quarter.
The document provides a history and financial update of the Keller Tax Increment Reinvestment Zone No. 1 (TIRZ) in Keller, Texas. It discusses the establishment of the TIRZ in 1998 and amendments made to the capital improvement plan, increasing it to $32.95 million. It also summarizes the TIRZ's debt issuances from 1999-2010 to fund capital projects and refund bonds at lower interest rates. Additionally, it reviews the TIRZ's incremental property value captures, revenues received, debt payments made, and ending fund balances from 1999-2012.
The document discusses Advanced Emissions Solutions' Q2 2016 earnings call. It provides highlights such as solid execution against strategic goals, increased distributions from the Refined Coal business, transitioning an investor to a higher tonnage facility, and ongoing review of strategic alternatives for the Emissions Control business. Financial data shows declines in revenues but improvements in expenses and net income. The Refined Coal business continues to be a significant contributor to earnings through royalty income and equity investments.
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.
- Equatorial's net operating revenues nearly doubled to R$1.1 billion in 2Q13 due to the consolidation of CELPA. EBITDA decreased 46% to R$64 million due to thermal plant dispatch and CELPA consolidation. Adjusted EBITDA excluding regulatory assets was up 74.1% to R$153 million.
- CEMAR's energy sales grew 4.2% while losses decreased slightly. CELPA's energy sales increased 6.4% with losses up 16.9%. Both companies saw improvements in outage indices.
- In August, ANEEL approved a 9.18% average tariff increase for CELPA effective August 2013. CEMAR's
- Equatorial's net operating revenues nearly doubled to R$1.1 billion in 2Q13 due to the consolidation of CELPA. EBITDA decreased 46% to R$64 million due to thermal plant dispatch and CELPA consolidation. Adjusted EBITDA excluding regulatory assets was up 74.1% to R$153 million.
- CEMAR's energy sales grew 4.2% while losses decreased slightly. CELPA's energy sales increased 6.4% with losses up 16.9%. Both companies saw improvements in outage indices.
- In August, ANEEL approved a 9.18% average tariff increase for CELPA effective August 2013. CEMAR's
Social Media Marketing Basics - A quick OverviewAakar Anil
This document provides an overview of social media basics. It defines social media as online tools that allow for communication, sharing, and interaction through web and mobile technologies. Some key points made are that social media integrates technology, social interaction, and multimedia to facilitate information sharing and dialogue. It also discusses why businesses should engage with social media, such as to increase brand awareness, drive traffic, understand customer behaviors, and generate leads. The document concludes by outlining best practices for social media activity and its impact on business metrics.
Biofilms are highly structured communities of bacteria that attach to surfaces and secrete an extracellular matrix. Within biofilms, bacteria communicate chemically through quorum sensing and are much more resistant to antibiotics than individual bacteria. This makes biofilms a major cause of persistent infections associated with medical implants and devices. Researchers are working to develop new treatments that target biofilm formation and quorum sensing, with some looking at natural compounds that inhibit these processes. Proper testing models are still needed, as bacteria in biofilms may differ significantly from individual bacteria and assumptions that they are similar could lead to problems.
Blog itself is a social media tool, but there're some more social media tools which helps you to reach large number of audiences! Presented on Social Media Day 2012 http://goo.gl/EYHyj
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.
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.
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.
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.
Alupar reported its financial results for the first quarter of 2014, with consolidated net income growing 19.3% compared to the same period in 2013. Key highlights included adjusted net revenue increasing 15.3% to R$324.2 million and EBITDA growing 23.5% to R$280.9 million. For the transmission business, EBITDA rose 3.9% to R$240.6 million while generation EBITDA increased significantly to R$60.7 million. The company also announced it had declared interim dividends of R$156 million and recommended final dividends of R$193.7 million for fiscal 2013.
The document provides an overview of Empresa de Energía de Bogotá (EEB), a regional leader in the energy sector. EEB has a wide energy portfolio focused on natural monopolies and has a presence in electricity transmission, distribution, generation and gas distribution, transportation and distribution across Colombia, Peru, Guatemala and other countries. It has ambitious projects under execution to consolidate its strategy and control over subsidiaries. Financial highlights show increasing revenues, earnings and EBITDA in recent years.
CEMAR and CELPA saw increases in operating metrics in 3Q14. CEMAR's energy sales grew 9.3% and losses decreased. CELPA's energy sales grew 12.4% while losses decreased. Both companies saw improvements in DEC and FEC indexes. Financially, Equatorial's EBITDA grew 36% to R$450 million and net income grew 41% to R$282 million. Total capex for Equatorial increased 115% to R$323 million in 3Q14. Corporate updates included tariff adjustments for CEMAR and CELPA, refinancing of fiscal debt, new debt issuances, and CCC subvention for CELPA.
EEB is a leading energy company in Colombia and other Latin American countries. It has majority market shares in electricity transmission, distribution and generation as well as natural gas transportation and distribution. EEB has a diversified portfolio of energy assets and is focused on expanding its presence in attractive and growing energy markets through investments in existing subsidiaries and new projects. EEB has consistently delivered stable financial results with over 80% of its revenues from regulated businesses and it has access to capital markets to fund its planned investments through 2018.
Equatorial reported its operating and financial results for the fourth quarter of 2013. Key highlights include:
- CEMAR's energy sales grew 13.8% year-over-year to 1,440 GWh. CELPA's total energy sales increased 14.6% to 1,985 GWh.
- CEMAR's energy losses decreased 1.1 percentage points to 19.2% while CELPA's losses fell 2.9% to 35.5%.
- Net operating revenues increased 15.8% to R$1,329 million due to the consolidation of CELPA. However, EBITDA declined 21.1% to R$131 million due to higher energy purchase costs
This document presents the 2012 results and capital market performance of CTEEP, a Brazilian electricity transmission company. It summarizes CTEEP's key operating and financial results for 2012, including a 6.8% decrease in net operating revenue, a 3% decrease in EBITDA, and a 7.8% decrease in net income compared to 2011. It also provides details on CTEEP's capital structure, debt repayment schedule, investment plan for 2013, and stock performance on the Brazilian market in 2012.
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.
- Equatorial reported operating and financial results for 1Q13, with consolidated net operating revenues reaching R$1,065.9 million, almost double the amount from 1Q12. EBITDA totaled R$59.8 million, a 52.2% decrease compared to 1Q12. The net result was a loss of R$24.6 million.
- CEMAR's energy sales increased 10.6% in 1Q13 compared to 1Q12. CELPA saw energy demand growth of 3.9% in the quarter. Both companies reported improvements in energy loss and service quality indexes.
- On April 19, 2013, CELPA's shareholders approved a
EEB is a leading energy company in Colombia and other Latin American countries. It operates across various areas of the energy sector including electricity transmission and distribution, natural gas transportation and distribution, and electricity generation. EEB has a strong presence in Colombia, Peru, Guatemala and other markets through various subsidiaries. It has ambitious investment plans for the 2013-2017 period to expand its electricity and gas infrastructure. EEB has consistently delivered stable financial results with growing revenues and earnings. It also provides attractive dividends to shareholders.
Corporate Presentantion CPFL Energia June 2015CPFL RI
This document provides an overview of CPFL Energia's history and operations from 1997 to 2015. It discusses CPFL Energia's expansion through acquisitions and greenfield projects in distribution, generation, and renewable energy. It also summarizes the company's financial performance over time and highlights its ambitions going forward to maintain leadership in operating efficiency across its business segments.
The document provides an earnings presentation for Triunfo Participações e Investimentos S.A. for 4Q12 and full year 2012. Some key highlights include:
- Traffic across segments grew 6.4% in 4Q12 and 6.6% for the full year.
- Net operating revenue increased 13.9% in 4Q12 and 20.6% for the full year.
- Adjusted EBITDA grew 2.4% in 4Q12 to R$119.8 million and increased 19.2% for 2012 to R$419.5 million.
- Capex totaled R$312.8 million in 4Q12 and R$766.9 million for the
This document summarizes the key financial information of an organization over a 5-year period from 2001-2002 to 2005-2006. It includes highlights of the company's steady revenue and profit growth over time as well as initiatives taken by the finance department such as implementing an e-banking system for payments and a centralized payroll system. Key metrics such as revenues, profits, assets, liabilities, and financial ratios like ROCE and debt-equity are presented for each year. Awards received by manufacturing and service units are also mentioned.
The document discusses how CPFL Energia has grown and created value since its IPO in 2004. Some key points:
- The IPO provided funds to expand generation capacity through new hydro plants and entering renewable energy. Generation capacity increased 285% by 2014.
- The distribution segment remains the core business and grew through acquisitions of new distributors. Number of customers increased 21% annually.
- The commercialization segment maintained revenue and margins despite increased competition in the free market.
This document contains notes and assumptions for a business plan prepared by Investaura Management Consultants for an unnamed company. It identifies two key value creation levers as expanding into new international markets and increasing sales of new product lines. While two other levers are noted as substantial, they were not quantified. The document includes historical financials and key performance metrics for the company from 2005-2013 and disclaims that the forecasts are preliminary and subject to due diligence.
The document provides highlights from BR Properties' 2Q13 earnings release presentation. Key points include:
- 2Q13 net revenues increased 48% YoY to R$238.2 million due to additional rental revenues. Adjusted EBITDA rose 52% to R$221.2 million.
- Financial vacancy was 10.8% while physical vacancy was 5.5%, excluding recently delivered properties.
- During 2Q13 the company renegotiated debt, reducing average cost from TR + 10.36% to TR + 9.39%.
- Standard & Poor's altered its outlook on BR Properties from neutral to positive. The company also raised R$450 million in debentures.
Similar to Institucional 2 q14 padrão 2014 eng (20)
O relatório apresenta os resultados financeiros e operacionais da Equatorial no 3T14. Destaca-se o crescimento de 9,3% na demanda de energia da CEMAR e de 12,4% na CELPA. O EBITDA Regulatório Ajustado consolidado atingiu R$276 milhões, aumento de 21%. Os investimentos totais da Equatorial somaram R$323 milhões no trimestre.
O documento apresenta o perfil e desempenho financeiro da Equatorial Energia, incluindo suas subsidiárias CEMAR e CELPA. Detalha os principais indicadores das distribuidoras como receita, EBITDA, dívida líquida e investimentos realizados. Apresenta também a evolução dos indicadores de qualidade como perdas de energia e indicadores DEC/FEC nas duas empresas.
O documento apresenta o perfil e desempenho financeiro da Equatorial Energia, incluindo suas subsidiárias CEMAR e CELPA. Detalha os indicadores operacionais e financeiros das empresas entre 2004-2013, destacando a melhoria dos indicadores de qualidade da CEMAR e os desafios da CELPA. Apresenta também a visão, missão e valores da Equatorial Energia.
O documento apresenta o perfil e desempenho financeiro da Equatorial Energia, incluindo suas subsidiárias CEMAR e CELPA. Detalha os principais indicadores operacionais e financeiros das empresas entre 2004-2013, destacando a melhora nos indicadores de qualidade da CEMAR após um turnaround bem-sucedido.
Equatorial's operating and financial results for 2Q14. Key highlights include:
- CEMAR's energy sales grew 8.2% and losses decreased. CELPA's sales grew 12.5% and losses decreased.
- Adjusted regulatory EBITDA increased 63.5% to R$242 million.
- Adjusted regulatory net income grew 162.1% to R$98 million.
- Total capex was R$286 million, an 84% increase, focusing on network improvements.
O relatório apresenta os resultados financeiros e operacionais da Equatorial no 2T14. Os destaques incluem crescimento de 8,2% na demanda de energia da CEMAR e de 12,5% na CELPA, melhorias nos índices de perdas de energia, DEC e FEC em ambas as distribuidoras, aumento de 21,2% na receita líquida consolidada e de 63,5% no EBITDA regulatório ajustado. Os investimentos totais consolidados somaram R$286 milhões no trimestre.
Institucional 1 q14 novo padrão port-finalEquatorialRI
O documento apresenta a Equatorial Energia, holding com investimentos no setor elétrico brasileiro. Apresenta os principais ativos da companhia, como a distribuidora CEMAR no Maranhão e a distribuidora CELPA no Pará, além de duas usinas termelétricas. Detalha também a estrutura acionária, a estratégia corporativa e o histórico da companhia desde sua aquisição pelo Fundo PCP em 2004.
Equatorial reported operating and financial results for 1Q14. Key highlights include:
- CEMAR's energy sales grew 7.9% and losses decreased. CELPA's sales grew 14% and losses decreased. Both saw improvements in outage indices.
- Consolidated net revenues grew 24.3% to R$1.325 billion. EBITDA was R$144 million, up from R$60 million in 1Q13. Adjusted net income was R$91 million.
- Total investments were R$211 million, a 25.2% increase over 1Q13. CEMAR invested R$79 million and CELPA R$132 million.
- Debt increased to
Os principais pontos do relatório são:
1) A receita operacional líquida consolidada cresceu 24,3% no 1T14 impulsionada pelo desempenho da CELPA.
2) O EBITDA Regulatório Ajustado consolidado somou R$231 milhões no 1T14, aumento de 45,3% em relação ao mesmo período do ano anterior.
3) O lucro líquido ajustado consolidado foi de R$91 milhões no 1T14, alta de 50,9% na comparação anual.
Institucional 4 q13 novo padrão port-finalEquatorialRI
O documento apresenta a Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, controlada pelo Fundo PCP da Vinci Partners. Apresenta os principais investimentos da Equatorial, que incluem distribuidoras nos estados do Maranhão e Pará, além de usinas termelétricas. Também descreve a estratégia, história, desempenho financeiro e time de gestão da empresa.
O documento apresenta os resultados financeiros e operacionais da empresa no 4T13. Destaca o crescimento de 13,8% na demanda de energia da CEMAR e de 14,6% na CELPA. A receita operacional líquida consolidada cresceu 15,8% em relação ao 4T12, enquanto o EBITDA consolidado caiu 21,1% no período. O resultado líquido foi um prejuízo de R$62 milhões. Os investimentos consolidados totalizaram R$261 milhões no trimestre.
Apresentação institucional celpa 2014 geral equatorial day siteEquatorialRI
Este documento apresenta a história e as operações da CELPA (Companhia de Eletricidade do Pará). [1] A CELPA é uma holding com investimentos no setor elétrico, focada em distribuição e geração no Pará. [2] Nos últimos anos, a CELPA passou por um processo de reestruturação operacional e financeira para melhorar seu desempenho, com foco em gestão de resultados, redução de custos e investimentos em infraestrutura.
Apresentação equatorial day regulação 2014EquatorialRI
O documento apresenta a pauta e metodologia para a realização da 3a rodada de revisões tarifárias das distribuidoras CEMAR e CELPA. Apresenta os principais pontos da metodologia como: reposicionamento tarifário, custos operacionais, base de remuneração e custo de capital, resultados para CEMAR e CELPA.
Apresentação equatorial day institucional cemar 2014EquatorialRI
O documento descreve a história e situação atual da CEMAR, empresa de distribuição de energia elétrica no Maranhão. A CEMAR enfrentava graves problemas financeiros e operacionais, com alta dívida, baixa margem operacional, piores índices do país e desmotivação dos funcionários. No entanto, a nova gestão implementou uma estratégia de reestruturação que incluiu investimentos em infraestrutura, foco em resultados, reestruturação operacional e disciplina financeira, melhorando significativamente o desempenho da
Apresentação equatorial day comercial cemar 2014EquatorialRI
O documento apresenta o diagnóstico e plano de ações para combater as perdas de energia da companhia entre 2008-2013. As principais ações incluíram inspeções de fraudes, regularização de clientes clandestinos e em gambiarras, e implantação de medição fiscal. Isso resultou em uma redução das perdas totais de 28,9% em 2008 para 20,1% em 2013, atingindo um novo patamar.
Apresentação equatorial day overview cemar 2014EquatorialRI
O documento apresenta as principais áreas de atuação da CEMAR, incluindo: (1) mercado, com destaque para evolução do consumo de energia e número de consumidores; (2) perdas de energia, com metas de redução e iniciativas para recuperação de energia; (3) melhoria do desempenho operacional, com ênfase na contratação de serviços terceirizados e redução de custos.
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.
Institucional 3 q13 novo padrão port-finalEquatorialRI
A apresentação institucional descreve o perfil da Equatorial Energia, uma holding com investimentos no setor elétrico brasileiro, com foco em distribuição e geração de energia. Apresenta os resultados financeiros da companhia desde 2004, destacando o crescimento da receita operacional líquida e do EBITDA. Fornece detalhes sobre os ativos da Equatorial, incluindo as distribuidoras CEMAR e CELPA, e sobre a estratégia de recuperação operacional e financeira implementada.
The document provides operating and financial results for 3Q13. Key highlights include:
- CEMAR's energy sales grew 12.3% and losses decreased 0.5 percentage points. CELPA's sales grew 9.1% and losses improved.
- CEMAR and CELPA showed improvements in DEC and FEC indexes compared to the prior year.
- Equatorial's net revenues nearly doubled to R$1.2 billion due to CELPA consolidation. EBITDA grew 147% to R$331 million.
- Net income was R$200 million compared to R$58 million in 3Q12. Investments totaled R$161 million, down 3.2% from
O documento apresenta os resultados financeiros e operacionais da Equatorial para o 3T13. Destaca-se o crescimento de 12,3% na demanda de energia da CEMAR e de 9,1% na CELPA. O EBITDA consolidado atingiu R$331 milhões, 146,7% maior que no 3T12, impulsionado pelo reconhecimento de receita de CDE. O lucro líquido foi de R$200 milhões. A dívida líquida consolidada foi de R$1.078 milhões.
4. DISTRIBUTION SEGMENT
GENERATION SEGMENT
4
Equatorial Overview
• Distribution company in the State of
Maranhão
• Annual gross revenues of R$2.5
billion in 2013.
• EBITDA (2013): R$ 560 million
• Energy Losses (2013): 19.2%
• Executed Turnaround
• Thermal Generation Company, 25%
owned by Equatorial;
• Joint installed capacity of 331 MW;
• 240 MW of energy sold at the A-3
auction in 2007;
• Start-up: January 2010;
• EBITDA 2013 (25%): R$ 31 million
• + Opportunistic Investments
• Electricity trading company and
developer of new products and
services
• Experienced executives and well-recognized
in the trading market
• Market intelligence focused in new
opportunities
CELPA
PA MA
• Distribution company in the
State of Pará.
• Annual gross revenues of R$3.4
billion in 2013.
• EBITDA (2013): R$ 113 million
• Energy Losses (2013): 35.5%
• Undergoing Turnaround
TRADING SEGMENT
5. 5
Ownership Structure – Current
• Total no. of shares:
• Share price (08.14.2014):
• Free float:
• ADTV90:
198,447,352
R$ 25.05
77.1% / R$3,833 MM
R$ 17.871 MM
ADTV90 represents the average volume traded in the past 90 days
6. Carlos Piani
Chairman of the Board
Firmino Sampaio
CEO
Eduardo Haiama
CFO & IRO
Tinn Amado
Regulatory Affairs Officer
Ana Marta Horta Veloso
Officer
Felipe Borges
Officer
Luis Otávio Laydner
Officer
Augusto Miranda
Officer
• Officer of Equatorial since January 2013.
• Former Banco Original Legal Officer; Also worked at Ulhoa Canto Lawyers and Mattos Filho.
Management
• Former CEO of Equatorial and CEMAR. Currently, partner at Vinci Partners and CEO of PDG Realty.
• Former 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.
• CFO and IRO of Equatorial since 2008. IRO of CEMAR since 2008;
• Former UBS Pactual equity research senior analyst for the Utilities Segment.
• Regulatory Affairs Officer of Equatorial since April 2008 and of CEMAR since August 2006;
• Former consulting partner of Amado Consultoria; former ANEEL analyst.
• Officer of Equatorial since November 2008.
• Former executive at UBS Pactual and BNDES (Brazilian Development Bank);
• Officer of Equatorial since May 2013.
• Partner at Vinci Partners. Former executive at Banco Pactual and Esso
• Officer of Equatorial since May 2013.
• Currently, CEO at CEMAR since April 2010. Executive at CEMAR since 2004. Over 20 years experience in the sector having worked at COELBA. 6
8. 8
Financial Performance
Since 2004, Equatorial has been presenting an excellent financial performance.
EBITDA (IFRS) (R$ million)
(*) As from 2010, all values are according to IFRS
(**) In 2012, CELPA’s consolidation started as from November.
Consolidated Net Debt and Net Debt/LTM
Regulatory EBITDA
R$ million / Times
In 2012, Equatorial consolidated 100% of CELPA’s Net Debt, however, only consolidated CELPA’s EBITDA
for the months of November and December 2012.
2004 2005 2006 2007 2008 2009 2010 (*) 2011 2012 (**) 2013 1S14
Net Revenue 526 6 29 8 10 8 79 2 ,346 2 ,506 1 ,799 1 ,981 2 ,987 4 ,715 2 ,678
LTM EBITDA (IFRS) 93 1 89 3 41 3 79 7 84 7 57 5 10 5 04 5 67 5 86 6 70
LTM Regulatory EBITDA 93 1 89 3 41 3 79 7 84 7 57 4 99 5 04 5 00 6 52 8 87
13. 13
CEMAR and CELPA comparison
PA MA
CEMAR 2004 2013
Energy Sold GWh 2.593 5.288
Net Revenues R$ MM 495 1 .969
PMSO R$ MM 127 367
PDA + Contingencies R$ MM 47 59
Accounting Ebitda R$ MM 93 4 94
Regulatory EBITDA R$ MM 93 5 60
Net Income R$ MM (31) 192
Dividends R$ MM - 38
Net Debt R$ MM 362 870
Net Debt / Reg. EBITDA times 3,9 1,6
Clients '000 1.161 2.126
PMSO/Client R$/Client 109 173
EBITDA/Client R$/Client 80 2 32
DEC (*) Hours/Year/Client 63,4 18,9
FEC (*) Times/Year/Client 39,3 10,9
Total Losses (*) % 29,9% 19,2%
CAPEX R$ MM 45 2 96
PLPT (**) R$ MM 25 29
(*) Last 12 months
(**) Light For All Program
(***) Values according to IFRS
CELPA 2012 2013
Energy Sold GWh 6.383 7.250
Net Revenues R$ MM 2.350 2.495
PMSO R$ MM 1.069 769
Non-manageable costs R$ MM 1.233 1.049
Accounting Ebitda R$ MM -369 113
Regulatory EBITDA R$ MM -344 113
Net Income R$ MM -697 -229
Net Debt R$ MM 1.219 961
Net Debt / Reg. EBITDA R$ MM N/A 8,5
Clients '000 1.931 2.031
PMSO / Client R$ / Client 553 379
EBITDA/Client R$ / Client N/A 56
DEC (*) Horas / Ano / Cons. 101,6 73,5
FEC (*) Vezes / Ano / Cons. 50,9 3 8,0
Total Losses (*) % 35,0% 35,5%
CAPEX R$ MM 433 361
PLPT (**) R$ MM 46 6 1
14. 14
Highlights (CEMAR)
Required Energy
3,551
6,553
(GWh)
CAGR
7,0%
2004 2013
2,593
5,288
CAGR
8,2%
2004 2013
836
CAGR
12,0%
1,121
2,069
2005 2009 2013
1,161
2,126
CAGR
7,0%
2004 2013
Billed Energy
(GWh)
Number of Clients
(‘000)
Net RAB
(R$ million)
15. 15
Highlights (CELPA)
5,736
11,291
CAGR
7,8%
2004 2013
4,440
7,250
CAGR
5,6%
2004 2013
1,263
2,031
CAGR
5,4%
2004 2013
CAGR
7,4%
829 889
1,472
2003 2007 2011
Required Energy
(GWh)
Billed Energy
(GWh)
Number of Clients
(‘000)
Net RAB
(R$ million)
19. 19
CEMAR Turnaround – First Steps
VISION
Be the best and most profitable distribution
company in Brazil.
MISSION
Distribute electricity with quality to promote the
development of Maranhão.
VALUES
Focus in Human Resources
Meritocracy
Obsession to Profit
Dedication to the Client
Ethics and Integrity
Safety
Transparency
CEMAR’s Issues before the acquisition:
• Previous controllers requested bankruptcy
protection;
• High indebtedness, including unpaid energy
purchase, amounting to R$820 million;
• Very low operating margin;
• Worst quality indicators in Brazil;
• Unmotivated employees and managers,
lacking skills to face new challenges;
• Main sector players did not show any
interest in acquiring the company.
20. 20
CEMAR Turnaround
FIRST TURNAROUND WAVE
Reestructuring based on 8 macro initiatives
Recruiting of New Talents;
Variable Compensation;
Operational Reestructuring;
New Investments;
Client Satisfaction;
New IT Infrastructure;
Financial Discipline;
Result-oriented Management.
MA
RS
SC
AP
PR
SP
MG
GO
MT
AC
AM
RR
RO
PI
BA
MA
PA
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
21. 21
CEMAR Turnaround
GESTÃO DE RESULTADOS
SETTING CLEAR
GOALS FOR THE
COMPANY AND EVERY
SINGLE EMPLOYEE
INVOLVED PARTIES NEEDS
INVOLVED PARTIES SATISFACTION
Participatory
Management Meritocracy
Financial
recognition for
achieved goals
22. 22
CEMAR – Results Matrix Management / Budgeting
Company Areas Expenses Packages
22
23. 23
CEMAR Turnaround
SECOND TURNAROUND WAVE
Productivity Gains;
Focus on People;
Result-Oriented Management;
Focus on Safety;
Energy Losses Reduction;
Client Relationship – Improving the Company’s Image;
Improvement in Third Party Management;
Quality Improvement.
MA
RS
SC
AP
PR
SP
MG
GO
MT
AC
AM
RR
RO
PI
BA
MA
PA
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
24. 24
CEMAR – Understanding Energy Losses
84,5%
MUNICIPALITY WEIGHT MHW
SÃO LUÍS 45,2% 374.456
MIRANDA 24,0% 198.472
IMPERATRIZ 15,3% 126.857
P. DUTRA 4,9% 40.335
PERITORÓ 4,8% 39.521
CEPISA 2,8% 23.098
COELHO NETO 2,5% 20.387
TOTAL 99,4% 823.126
24
26. 26
CEMAR Turnaround – Reducing Energy Losses
Structuring Actions
1) Regularize costumers with quick-fixes
(“gambiarras”);
2) Inspect and update the public lighting data;
3) Install and check the fiscal measurement;
4) Regularize clandestine clients;
5) Assure every client has a metering;
6) Reduce cut off and disconnected clients in the
commercial system;
7) Recall of malfunctioning metering;
8) Check clients being billed by the minimum;
9) Check the Technical Losses percentage;
Maintenance Actions
1) Structure the energy losses matrix;
2) Structure the Unregistered Consumption (“CNR”)
treatment;
3) Avoid administrative losses from the billing system;
4) Assure the Energy Balance operation;
5) Recover metering equipment;
6) Weekly meetings to measure the results of the loss
combating initiatives.
28. 28
CEMAR Turnaround
FOCUS ON PEOPLE CLIENT RELATIONSHIP
Currently, 93% of CEMAR’s Leadership Team is
made of people that were internally promoted
RELATIONSHIP VISIT
• Visit the client and inform about the debt
before cutting its power;
• Respect and good relationship with the
clients.
IMMEDIATE BILLING
• Improved billing quality;
• Measuring and delivery on time;
• Client can follow the whole process.
First and only company from Maranhão to be in the list of
best places to work in Brazil, being part of the ranking for the
third time in a row.
2011 – 92nd Place
2012 – 32nd Place
2013 – 21st Place
29. 29
CEMAR Turnaround
THIRD PARTIES MANAGEMENT
Project Safety Management System;
Integration – Training Team Leaders;
Legal Sustainability Project;
Management Excellence Program
MANAGEMENT EXCELLENCE PROGRAM
CEMAR’s SUPPLIERS
• The Program pillars are aimed at developing and standardize
all third parties:
Operational Management;
Safety;
Supply Management;
Environment;
Social Responsibility
Financial Administrative, and;
Accounting.
COI
INTEGRATED OPERATIONAL CENTER
Maranhão
Area: 332,000 km²
Pop.: 6.7 million
Dens.: 20 pp/km²
• Integration of IT Systems and Teams;
• Productivity Gains
• Modernization.
31. 31
CELPA Turnaround – Main Issues and Initiatives
Complexity of the concession area
Innefficient operational management
Management model, based on the experience in CEMAR;
Variable compensation linked to clear goals
IT Systems
Telecommunications
Geo-referencing the operating assets
Best Practices shared between CEMAR and CELPA
Misunderstanding of the regulatory rules
Review of the regulatory parameters
Priority ranking for the Capex
Asset Base complete analysis
High Energy Losses Energy Losses Reduction Plan
Poor collection rate Collection in Focus
Very high financial leverage Debt Reestructuring: Judicial Recovery concluded in Sep-12
Awful Quality Indicators Quality Improvement in focus
Inadequate Structure and Procurement
Joint procurement and IT infrastructure
Voluntary Dismissal Plan
33. 33
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$45 million.
35. 35
Financial strength and solid
management team with
turnaround experience
Growth prospects and
consolidation opportunities
Result-oriented management
model
High level of
Corporate Governance
Value Creation
37. 2,686 GWh
37
CEMAR: Highlights
MA
PI
AP
Distribution company in the State of Maranhão
2.1 million clients (4th largest in the Northeast region)*
Billed energy (2Q14): 2,686 GWh
Annual gross revenues of R$ 2.5 billion in 2013.
Energy Sales (2Q14)
Clients (2Q14)
2.1 million
*Source: ABRADEE
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
MA
PA
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
49.0%
21.3%
21.0%
8.8%
Residential Industrial
Commercial Others
88.9%
6.6% 4.1%
0.4%
Residential Industrial
Commercial Others
38. 38
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
42. 3,676 GWh
42
Celpa: Highlights
PI
AP
Distribution company in the State of Pará
2.1 million clients
Billed energy (1S14): 3,676 GWh
Annual gross revenues of R$ 3.4 billion in 2013.
Energy Sales (1S14)
Clients (1S14)
2.1 million
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
MA
PA
TO
CE
RN
PE
AL
SE
MS
RJ
ES
DF
PB
PA
PA
43.0%
17.4%
22.3%
17.3%
Residential Industrial
Commercial Others
85.8%
6.5%
7.5%
0.2%
Residential Industrial
Commercial Others
43. 43
Celpa: History
Celpa under Equatorial’s
control
1962-Jul.1998
Jul.1998-
Oct.2012
Nov.2012-
Present
State owned
Celpa under Grupo Rede’s
control
Feb. 2012
Celpa’s Judicial Recovery
Filing
45. 45
Tariff Review Results
CELPA (in R$ million) 2011
Gross RAB 2.338
Net RAB 1.472
Operating Costs (starting point) 429
Operating Costs (upper limit) 352
Regulatory Depreciation 95
Regulatory EBITDA 253
Deliquency Rate (% GOR) 1.0%
X Factor (ex-ante) 2.42%
Regulatory Losses* 41,55%-34,00%
*Non-technical over low voltage market
46. • 2.1 million clients in 144 municipalities, covering the whole state of
46
Pará (total area 1,247,955 km²)
• Energy sales reached 3,676 GWh in 1S14, 13.4% higher than
1S13’s figures.
• In 2Q14, energy losses from the last 12 months represented 33.0%
of required energy, 3.4 p.p. lower than the 36.4% recorded in 1S13.
• In 2Q14, DEC and FEC for Celpa (accumulated over the last 12 mo
nths) were 56.7 hours, down 34.4%, and 31.5 times, a 30.7%
decrease when compared to indices observed at the end of 1S13.
• More than 352 thousand clients connected through the Light for All
Program.
CELPA: Distribution
CELPA 2012 2013 1S14
Energy Sold GWh 6,383 7,250 3,676
Net Revenues R$ MM 2,350 2,495 1,504
PMSO R$ MM 1,069 769 310
Non-manageable costs R$ MM 1,233 1,049 1,252
Accounting Ebitda R$ MM (369) 113 (58)
Regulatory EBITDA R$ MM (344) 113 250
Net Income R$ MM (697) (229) (227)
Net Debt R$ MM 1,219 961 650
Net Debt / Reg. EBITDA R$ MM N/A 8.5 2 .6
Clients '000 1,931 2,031 2,106
EBITDA/Client R$ / Clients N/A 56 (28)
DEC (*) Hours / Year / Cons. 101.6 73.5 5 6.7
FEC (*) Times / Year / Cons. 50.9 3 8.0 3 1.5
Total Losses (*) % 35.0% 35.5% 33.0%
CAPEX R$ MM 433 361 245
PLPT (**) R$ MM 46 6 1 8 0
(*) Includes Construction Costs/Rev enues
(**) Last 12 months
(***) Light For All Program
All v alues are in accordance with IFRS
48. ► 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.
48
Disclaimer