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
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
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
3. Electricity Distribution in the State of Maranhão
Volume Breakdown (GWh)
RR
AP Other Residential
24%
23%
AM MA CE
PA RN
PB
PI
PE
AC
TO AL
RO SE Commercial Residential
BA
MT 20% Low Income
GO DF Industrial 17%
16%
MG
MS ES 2,793 GWh
SP RJ
Consumers Breakdown
PR
SC
Other
Commercial 6%
RS
8% Residential
28%
Industrial
1%
2nd largest distributor in Brazil’s Northeast in terms of concession
area (333,366 km2)
4th largest distributor in number of consumers Residential
Low Income
5th largest distributor in Northeast in terms of energy consumption
57%
50,000 km of transmission lines and 647,000 poles
Note: Data from ABRADEE, CEMAR reports. Data as of 2005. 1.3 million consumers
3
4. Corporate Structure
Pactual Fund(1) GP Investimentos(2)
Total: 46.2% Total: 53.8%
Management Brasil Energia I(3)
Total: 2.6% Total: 40,6% Total: 56.8%
Voting: 1.6% Voting: 62.1% Voting: 36.3%
Outstanding Units:
Eletrobras Others
65.558.392
Total: 34.0% Total: 0.7% Total: 65.4%
Voting: 33.9% Voting: 0.7% Voting: 65.5%
New
Acquisitions
(1) Pactual Latin America Power Fund Ltd., fund managed by Pactual
(2) Funds managed by GP Investimentos
(3) Includes shares held through Tordezilhas S.A., whole owned subsidiary of Brasil Energia I
4
5. Corporate Structure (fully diluted)
Corporate Structure Comparison - Before and After Stock Option Programs Full Dilution Effects
Before After
Company Shareholders Total Voting Total Voting
(3) Pactual Fund(1) 46.2% - 46.2% -
Brasil Energia I
GP Investimentos (2) 53.8% - 53.8% -
(3) 40.6% 62.1% 39.2% 60.7%
Brasil Energia I
Equatorial Energia Management 2.6% 1.6% 5.9% 3.8%
Free Float 56.8% 36.3% 54.9% 35.5%
Equatorial Energia 65.4% 65.5% 65.8% 65.9%
CEMAR Eletrobras 34.0% 33.9% 33.5% 33.4%
Free Float 0.7% 0.7% 0.7% 0.7%
Equatorial Energia
Outstanding Units 65,558,392
Outstanding Stock Options 2,340,128
Total Units (Fully Diluted) 67,898,520
Assumptions:
(i) the exercise of options to subscribe 200,201,862,409 additional shares of Cemar by members of the management team under
Cemar Stock Option Plan,
(ii) the exercise of options to subscribe 1,320,407 additional UNITs of Equatorial by members of the management team under
Equatorial Stock Option Program 1 and
(iii) the exercise of options to subscribe 1,231,114 additional shares of Equatorial by members of the management team under
Equatorial Stock Option Program 2
5
6. Management
Board of Directors
Firmino Ferreira Sampaio Neto – Chairman of the Board of Directors
Gilberto Sayão da Silva – Vice Chairman
Octavio Côrtes Pereira Lopes
Alessandro Monteiro Morgado Horta
Eduardo Alcalay
Carlos Augusto Leone Piani
Paulo Jerônimo Bandeira de Mello Pedroso – Independent Director
Darlan Dórea Santos - Independent Director
Officers
Octavio Côrtes Pereira Lopes – CEO
Carlos Augusto Leone Piani – Vice President of Equatorial and President of CEMAR
Augusto Miranda Paes Jr. – Engineering Officer
Eduardo Francisco Lobo – HR Officer
Leonardo Dias – CFO
Marcelino da Cunha Machado Neto – Commercial Officer
Sheilly Contente – Regulatory Affairs Officer
6
7. Strategy
Consolidation of Acquisition of control, independently or jointly
distributors
located in the Opportunities for gains through: operational and financial
North / Northeast / restructuring, reduction of losses, synergy gains and
Center-West above average market growth
Increased operational Continuation of CEMAR’s restructuring program,
efficiency and increasing productivity gains, seeking new cost reductions
reduction of losses and reducing commercial losses
Heavy investments in generation will be necessary over the
Selective assessment next few years in Brazil
of investments in
generation This scenario could generate attractive investment
opportunities that will be analyzed by Equatorial
7
8. Strengths
Growth prospects and Financial strength and
consolidation solid management team
opportunities with turnaround experience
Result-oriented High level of
management model Corporate Governance
8
9. Focus on Regions with Higher Electricity Consumption Growth
ORGANIC GROWTH – MARKET REAL GDP GROWTH – 90/04
Average Growth (p.a.) in Energy Consumption -99/05
5.5%
1.24x 56.9%
4.2% 45.8%
3.0%
2.3%
North Center-West Northeast Brazil Brazil Northeast
CEMAR – NUMBER OF CONSUMERS CEMAR – ENERGY SOLD (GWh)
1,254,121 2,793
1,161,283 2,593
1,116,361 2,521
2003 2004 2005 2003 2004 2005
4.0% 8.0% 2.9% 7.8%
Source: ABRADEE, ANEEL, IBGE, FGV, SUDENE, CEMAR reports
9
10. Growth Through Acquisitions
Company Control Net Revenues (R$ 000) Energy Sold (GWh) EBITDA (R$ 000) EBITDA Margin (%)
CELPE Neoenergia 1,603,646 7860 388,362 24.2%
COELCE Endesa 1,581,522 6397 344,821 21.8%
CEMAT Grupo Rede 1,233,464 4006 322,201 26.1%
CELPA Grupo Rede 1,124,792 4661 284,398 25.3%
COSERN Neoenergia 619,655 3163 199,931 32.3%
CEMAR Equatorial Energia 665,444 2793 188,578 28.3%
SAELPA Cataguazes 492,552 2227 155,074 31.5%
ENERGIPE Cataguazes 381,159 1647 137,072 36.0%
CELTINS Grupo Rede 265,661 932 104,226 39.2%
CEAL Federal Govt. 468,795 2159 85,795 18.3%
CEB State Govt. 859,050 3799 63,846 7.4%
CERON Federal Govt. 452,418 1439 10,177 2.2%
CELG State Govt. 1,556,176 7050 (3,084) -0.2%
CEPISA Federal Govt. 376,708 1583 (25,908) -6.9%
Source: Annual reports of North/Northeast/Center-West regions companies – Dec/2005 data
10
11. CEMAR Operational Restructuring
Reduction of management layers
Organizational Attraction and retention of new talent and variable
restructuring compensation aligned with shareholders’ goals
Changes
implemented
at CEMAR Centralized expense control
Financial Renegotiation of contracts
following discipline
Outsourcing
change in
control
DEC: 67.9 hours in 2003 to 54.6 hours in 2005
Operational FEC: 37.3 interruptions to 32.9 interruptions in 2005
improvement IT structure revamp
Improvement in consumer service
Source: CEMAR reports
11
12. CEMAR Financial Restructuring
Capitalization of R$155 million
Renegotiation of CEMAR’s debt
Average debt duration of 10 years
Around 90% of debt is pegged to the IGP-M (same index used to adjust tariffs), of which
22% with 18-year maturity and cost of IGP-M + 4%
DEBT AMORTIZATION PROFILE – DEC 2003 DEBT AMORTIZATION PROFILE – DEC 2005
R$ Million R$ Million
456
309
Total Debt: Total Debt:
R$820mn R$504mn
18
5
64
55 47
40 45
30 32 31
27
ST 2005 2006 2007 2008 > 2008 ST 2007 2008 2009 2010 > 2011
Source: CEMAR reports,in 2003 includes R$ 120 million overdue payables to energy suppliers
12
13. Additional Opportunities for Value Creation
High commercial losses comparing to region average:
Inspection and auditing infrastructure revamping
Reduction Implementation of electronic meters and telemetry at
Additional of energy high-voltage clients
opportunities losses Implementation of electronic meters and reinforced
for meters at low-voltage clients
Additional
value Automated selection of targets for inspection
opportunities
creation
for value
creation
Process reengineering
Additional
Further expense reduction
productivity
gains New investments in technology
SAP/R3 ERP system
13
14. Energy Losses vs. EBITDA margin (2005)
50%
40%
Energipe Celtins
EBITDA Margin (% Net Revenues)
Cosern Saelpa
30%
CEMAR
Cemat
Coelce Celpe Celpa
20%
Ceal
10%
Ceb
Ceron*
0%
Celg*
Cepisa*
-10%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0%
Energy Losses (% LTM)
Source: ABRADEE, Distributors from North / Northeast / Center-West regions – 2005 data
* Figures refer to 2004 Electricity Losses
14
16. Financial Strength
NET DEBT (R$ Million) NET DEBT /
EBITDA (Last 12 Months)
755.4
8.1
391.8 4.3
368.7 350.0
1.9 1.8
1.0
215.2
dez/03 dez/04 dez/05 mar/06 mar/06* dez/03 dez/04 dez/05 mar/06 mar/06*
(Pro forma)
(Pro forma)
* Including net proceeds of R$176.6 million, received in April, 2006, from the primary portion of the IPO
16
17. Debt Profile
75% of total debt pegged to the IGP-M and duration over 10 years
MAR/06 - R$514.9MM DEC/05 - R$504.3MM
US$ CDI CDI
US$ 5%
3% 5% RGR 3%
4%
RGR
6%
FINEL
FINEL 11%
11%
IGP-M IGP-M
77%
75%
Duration: 10.1 years
17
18. High Level of Corporate Governance
Level 2 of the Bovespa, 100% tag-along rights
Two independent Directors
Performance-based variable compensation linked to
shareholders’ goals
Stock option plan
18
20. 1Q06 - Highlights
Proceeds of R$185.6 with the primary portion of Equatorial Energia’s IPO
EBITDA of R$67.6 MM, 94.6% higher than 1Q05
EBITDA Margin of 37.1%, compared to 24.5% no 1Q05
Pro Forma* Net Income of R$21.8 MM, 127.4% higher than 1Q05, adjusted by IPO-
related expenses
Signed the 2nd contract of the “Light for Everyone” Federal Government
Program, worth R$275.4 MM
* Excluding non-recurring IPO-related expenses
20
22. Productivity Gains
Continued restructuring process
NR. OF EMPLOYEES NET REVENUE (R$ THOUSAND) /
NR. EMPLOYEES
1,463 1,444 152.7
1,379 48.6%
-1.3%
-4.5% 102.8
31.1%
-13.3% 78.4
1,195 33.8%
58.6
1Q03 1Q04 1Q05 1Q06 1Q03 1Q04 1Q05 1Q06
CLIENTS PER EMPLOYEE MWh SALES / NR. OF EMPLOYEES
1,072 561
18.8%
472
853 25.7% 412 4.3% 430 10.0%
735 785 8.7%
6.8%
1Q03 1Q04 1Q05 1Q06 1Q03 1Q04 1Q05 1Q06
22
23. Quality of Service
Improvement in all quality indexes, specially in São Luis, Maranhão State capital
DEC - CEMAR FEC - CEMAR
15.93 15.45 9.52 -20.3%
7.59
-3.0%
1Q05 1Q06 1Q05 1Q06
DEC - SÃO LUIS FEC - SÃO LUIS
11.57
-47.3% 9.02 -56.9%
6.10
3.89
1Q05 1Q06 1Q05 1Q06
DEC – Average Duration of Interruptions (measured in hours per consumer per year)
FEC – Average Frequency of Interruptions (measured in the number of interruptions per consumer per year)
23
24. Energy Losses
Upward trend reverted
ACCUMULATED ENERGY LOSSES - LAST 12 MONTHS
30.1%
29.8%
28.6%
26.0%
1Q03 1Q04 1Q05 1Q06
24
25. Net Revenues
Continued growth
NET REVENUES (R$ Thousands)
182,477
28.8%
141,721
25.2%
113,211
85,717 32.1%
1Q03 1Q04 1Q05 1Q06
25
29. Net Income
Profitability growth, excluding non-recurring IPO-related expenses
NET INCOME (R$ MM)
21.8
9.6 9.2
1Q03 1Q04 1Q05 1Q06 1Q06*
(Pro Forma)
(41.2) (40.6)
*excluding non-recurring IPO-related expenses
29
30. Investments
Constant investment pace
ANNUAL* (R$ Million)
121 117
42 45 50
40
33
FIRST QUARTER* (R$ Million)
25.7 2003 2004 2005 2006e
23.4 1.4 Investments Depreciation
0.5 Others
3.8 Equipments and Systems
3.1
3.1 Network Expansion
9.3
17.3
10.4 Network Maintenance
Source: CEMAR Reports
* excludes Light for Everyone Program related investments
1Q05 1Q06
30
31. Light for Everyone Program
Second Contract signed in March 2006
Light for Everyone Program 2006 contract: R$275.4 million
Funds received in 03/31/06: R$83.6 million
Connections under Contract: 60,000
Subsidized Portion – CDE: R$238.7 million
Financed Portion – RGR: R$36.7 million
DIRECT INVESTMENTS (R$ Million)
244
113
2005 2006e
24 months of grace period and 120 months of amortization
6% p.a. effective nominal interest rate
31
32. Light for Everyone Program
NEW CONNECTIONS: 1Q05 - 1Q06 TOTAL CONNECTIONS
10,688
50,824
7,028 40,136
25,711
14,956
7,028
1Q05 1Q06 1Q05 2Q05 3Q05 4Q05 1Q06
DIRECT INVESTMENTS (R$MM) CASH FLOW
33.4 (Figures in R$ Million) CDE RGR TOTAL
4.5 Initial Amount – 12/31/05 - - 8.9
RGR
10.2 Transfers – 1Q06 72.6 11.0 83.6
1.4 28.9 CDE Expenditures – 1Q06 - - (22.0)
8.8 Final Amount – 03/31/06 - - 70.5
1Q05 1Q06
32
33. 1Q06 - Highlights
Proceeds of R$185.6 with the primary portion of Equatorial Energia’s IPO
EBITDA of R$67.6 MM, 94.6% higher than 1Q05
EBITDA Margin of 37.1%, compared to 24.5% no 1Q05
Pro Forma* Net Income of R$21.8 MM, 127.4% higher than 1Q05, adjusted by IPO-
related expenses
Signed the 2nd contract of the “Light for Everyone” Federal Government
Program, worth R$275.4 MM
* Excluding non-recurring IPO-related expenses
33
35. Disclaimer
The following material is a presentation of the general information on EQUATORIAL ENERGIA S/A (EQUATORIAL) as of
the present date. It consists of summarized information and makes no attempt to be complete, and should not be
considered by potential investors as an investment recommendation. This presentation is public and is available at our
website equatorialenergia.com.br/ri and at CVM´s IPE System. We make no statements to the effect of nor provide any
guarantee as to the accurateness, relevance or scope of the information provided herein, which should not be used to base
any investment decisions.
Although EQUATORIAL believes that the expectations and assumptions contained in the forward-looking statements and
information are reasonable and based on the data currently available to its management, EQUATORIAL cannot provide any
guarantee of results or future events. EQUATORIAL expressly exempts itself from the responsibility of updating any of the
forward-looking statements and information.
In this document we make forward-looking statements which are subject to risks and uncertainties. Such forward-looking
statements are based on our Management’s beliefs and assumptions and information currently available to EQUATORIAL.
Forward-looking statements include information on our current intentions, beliefs or expectations, as well as on those of the
members of EQUATORIAL Board of Directors and Executive Board. The reservations related to forward-looking statements
and information also include information on possible or projected operating results, as well as statements preceded,
followed or containing the words “believes”, “may”, “will”, “continues”, “hopes”, “expects”, “intends”, “estimates” or similar
expressions.
Forward-looking statements and information are not a performance guarantee. Thy involve risks, uncertainties and
assumptions because they refer to future events and, therefore, depend on circumstances which may or may not occur.
Future results and value creation for shareholders may differ materially from those expressed or suggested by forward-
looking statements. Many of the factors determining these results and values are not within EQUATORIAL’s control or
prediction capacity of EQUATORIAL.
This presentation does not constitute offering, invitation or solicitation to buy any equity instruments issued by
EQUATORIAL. This presentation or any information in its content constitute contractual basis or commitments of any kind.
35