CPFL Energia is Brazil's largest private distributor and generator of electricity. Over the past 4 years since its IPO, it has grown significantly through acquisitions and investments totaling over $1 billion. Its distribution business serves over 13% of the Brazilian market, while its generation portfolio has nearly doubled in capacity. Going forward, CPFL Energia plans to continue expanding organically and through M&A, with a planned $5 billion in investments over the next 5 years to further consolidate its position as a leading player in Brazil's energy market.
2009 Brazil Equity Ideas Conference - Credit Suisse*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Citi´s 17th Annual Latin America Conference*CPFL RI
The document provides an overview of the Brazilian energy market and highlights for CPFL Energia:
1) The Brazilian energy market is concentrated among a few large players and state-owned entities still dominate generation assets. CPFL Energia has a 13% share of the distribution market and 2% of generation.
2) CPFL Energia is Brazil's largest private distributor and focuses on operational efficiency and acquiring smaller distributors. It is also growing its generation portfolio through new projects.
3) CPFL Energia aims to capture synergies across its business segments and reduce delinquencies while expanding its installed generation capacity and customer base.
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
World Federation of Investors Corporations Congress *CPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
Merrill Lynch Bahia All-in-One Pan-LatAm Conference *CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its shares are included in important stock indexes.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through acquisitions and organic expansion. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a 23% market share in commercialization of electricity to free customers. CPFL Energia has consistently distributed 100% of its profits as dividends to shareholders and maintained a conservative capital structure and debt profile.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, the largest private company in the sector.
The key points are:
1) The Brazilian energy market is concentrated among a few large players and state-owned companies control 70% of generation assets and 34% of the market share.
2) CPFL Energia is the largest private company in distribution and commercialization with a 13% market share. It has expanded significantly through acquisitions in recent years.
3) CPFL Energia has a 100% hydroelectric generation portfolio with long-term contracts. It is expanding into biomass generation through its subsidiary CPFL Bioenergia.
2009 Brazil Equity Ideas Conference - Credit Suisse*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Citi´s 17th Annual Latin America Conference*CPFL RI
The document provides an overview of the Brazilian energy market and highlights for CPFL Energia:
1) The Brazilian energy market is concentrated among a few large players and state-owned entities still dominate generation assets. CPFL Energia has a 13% share of the distribution market and 2% of generation.
2) CPFL Energia is Brazil's largest private distributor and focuses on operational efficiency and acquiring smaller distributors. It is also growing its generation portfolio through new projects.
3) CPFL Energia aims to capture synergies across its business segments and reduce delinquencies while expanding its installed generation capacity and customer base.
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
World Federation of Investors Corporations Congress *CPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
Merrill Lynch Bahia All-in-One Pan-LatAm Conference *CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its shares are included in important stock indexes.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through acquisitions and organic expansion. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a 23% market share in commercialization of electricity to free customers. CPFL Energia has consistently distributed 100% of its profits as dividends to shareholders and maintained a conservative capital structure and debt profile.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, the largest private company in the sector.
The key points are:
1) The Brazilian energy market is concentrated among a few large players and state-owned companies control 70% of generation assets and 34% of the market share.
2) CPFL Energia is the largest private company in distribution and commercialization with a 13% market share. It has expanded significantly through acquisitions in recent years.
3) CPFL Energia has a 100% hydroelectric generation portfolio with long-term contracts. It is expanding into biomass generation through its subsidiary CPFL Bioenergia.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity has increased 106% to over 2,100 MW through acquisitions and new projects.
- Total capex over the period was over R$5 billion, including R$1.1 billion spent on acquisitions.
- As a result of acquisitions and organic growth, revenues have increased over 25% and net income has more than doubled.
- The stock performance has significantly outperformed major indices since the IPO, with shares up over 130% on Bovespa and over 200% on the NYSE.
World Federation of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
World Federation Of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across Brazil. In recent years CPFL has expanded its generation capacity through acquisitions and new projects, bringing its total installed capacity to over 1,700 MW with additional projects under construction. CPFL also operates in the biomass energy sector through its subsidiary CPFL Bioenergia.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. Charts show trends in CPFL Energia's sales, EBITDA, net income, and breakdown of generation sources.
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its ADRs trade on the NYSE.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has grown significantly since its IPO through both organic growth and acquisitions. It began with distribution operations in two Brazilian states serving over 5 million customers. Through acquisitions and expansion, it has added operations in two more states and now serves over 6 million customers across 568 municipalities with a distribution network of over 196,000 km. CPFL Energia has aggressively pursued a strategy of growth in distribution, generation, and energy commercialization.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through both organic expansion and acquisitions. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a leading commercialization market share of 23%. CPFL Energia has consistently delivered high EBITDA and net income growth while maintaining a conservative capital structure and paying substantial dividends to shareholders.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, a major player in the market.
The key points are:
1) The Brazilian energy market is concentrated among a few large companies and state-owned entities still control a significant portion of generation assets.
2) CPFL Energia is one of the largest private companies in distribution and commercialization and the 4th largest in generation. It has a diversifying portfolio following recent acquisitions.
3) CPFL Energia has a track record of growth and operational efficiency as seen in its expanding capacity, increasing earnings, and focus on renewable energy sources like biomass.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights for CPFL Energia, a major player within it. Some key points:
- The Brazilian energy market is concentrated among a few large companies and state-owned entities control around 70% of generation assets and 34% of the market share.
- CPFL Energia is the largest private company in distribution and commercialization in Brazil and the 4th largest generator, operating primarily in the southeast region.
- In recent years CPFL has expanded through acquisitions of distribution companies, generation plants, and stakes in other entities, totaling R$1.1 billion in investments.
The Brazilian electricity distribution market has 64 companies serving 63 million customers. In 2008, these companies distributed 393 terawatt-hours of energy. The top 5 distribution groups control 48% of the market, while state-owned companies make up 34% and private companies control 66% of the market. The document discusses market share breakdown and investment opportunities in Brazil's electricity distribution sector.
'12ª Conferência Anual América Latina - Santander (15 a 18-01-2008)'CPFL RI
CPFL Energia has grown aggressively since 1997 through acquisitions and investments in distribution, generation, and commercialization of electricity in Brazil. It is a leader in these sectors with over 13% of the distribution market share and operations across São Paulo, Rio Grande do Sul, Paraná and Minas Gerais states. Recent deals include purchases of stakes in distribution and generation companies to increase its installed capacity to over 2 GW by 2010.
CPFL Energia has grown significantly since its 1997 IPO through acquisitions and expanding its electricity distribution, generation, and commercialization businesses. It is now one of the largest players in Brazil's electricity sector with a 13.8% market share in distribution across 5 states. CPFL Energia's generation capacity has grown from 801 MW in 2000 to a projected 2,174 MW in 2010 through new power plants and acquisitions. The company has a focus on hydropower and small private plants.
CPFL Energia reported strong financial results for 2004. Net income was R$279 million compared to a net loss in 2003. Revenues increased 18% to R$9.5 billion driven by a 4.9% increase in energy sold. The company consolidated its position as a market leader in distribution and commercialization in Brazil. Looking forward, CPFL Energia expects continued growth from its efficient distribution operations and expanding commercialization and generation businesses.
CPFL Energia reported strong financial results for 2004, with net income of R$279 million compared to a net loss in 2003. Key highlights included an 18% increase in gross revenues to R$9.5 billion, a 9% increase in EBITDA to R$1.68 billion, and reduction of financial debt. The company also invested in expansion projects and aims to invest a total of R$2.6 billion through 2008 for maintenance and growth. CPFL Energia achieved these results through leadership in distribution, commercialization, and generation businesses in Brazil.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, commercialization, and solutions and services. The distribution segment operates four concessions serving over 9 million customers. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL is pursuing operational efficiency initiatives across its business segments and has a strategic plan focused on growth through M&A and greenfield projects.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, and commercialization and services. The distribution segment operates four distribution companies serving over 9 million customers across Brazil. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL has a strategic plan focused on operational efficiency, portfolio optimization and growth.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity and assured energy increased over 100% through acquisitions and investments.
- Total capex over the period was over R$5 billion, including acquisitions of distribution companies.
- Share performance has significantly outperformed major indexes since the IPO, with returns over 130% in local currency and over 200% in US dollars.
- In the recent market downturn, CPFL shares held up relatively well due to their defensive nature and limited currency and consumption exposure.
Morgan Stanley - Annual Latin America CEO Conference*CPFL RI
CPFL Energia has grown significantly in the past 4 years since its IPO. Some key points:
- Installed capacity has increased 106% to over 2,100 MW through acquisitions and new projects.
- Total capex over the period was over R$5 billion, including R$1.1 billion spent on acquisitions.
- As a result of acquisitions and organic growth, revenues have increased over 25% and net income has more than doubled.
- The stock performance has significantly outperformed major indices since the IPO, with shares up over 130% on Bovespa and over 200% on the NYSE.
World Federation of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
World Federation Of Investors Corporations CongressCPFL RI
Luciana Barbosa
Phone: 55 19 3756 6024
E-mail: luciana.barbosa@cpfl.com.br
Analyst Coverage
Banco do Brasil
BTG Pactual
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Itaú BBA
JP Morgan
Merrill Lynch
Morgan Stanley
Santander
UBS Pactual
19
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. The document highlights CPFL Energia's financial performance, including strong growth in EBITDA and net income.
Morgan Stanley Conference - Latin America CEO Conference (06 a 08-01-2010)CPFL RI
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across Brazil. In recent years CPFL has expanded its generation capacity through acquisitions and new projects, bringing its total installed capacity to over 1,700 MW with additional projects under construction. CPFL also operates in the biomass energy sector through its subsidiary CPFL Bioenergia.
14ª Conferência Anual América Latina - Santander (12 a 14-01-2010)CPFL RI
The document provides an overview of the Brazilian energy market and highlights CPFL Energia's position within it. It notes that CPFL Energia is the largest player in distribution and commercialization in Brazil, operating in some of the most developed regions. It also summarizes CPFL Energia's growth in recent years through acquisitions and investments in generation assets. Charts show trends in CPFL Energia's sales, EBITDA, net income, and breakdown of generation sources.
CPFL Energia is Brazil's largest private company in the distribution and commercialization of energy. It operates 8 distribution companies serving over 568 municipalities across 208,226 km2, with over 6.5 million customers. In generation, CPFL Energia has 1,737 MW of installed capacity in operation and 846 MW under construction. It is expanding into biomass generation through its subsidiary CPFL Bioenergia. CPFL Energia has shown sales growth in both its concession area and in Brazil's free energy market in recent years.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has consolidated its participation in the Brazilian electricity and capital markets since its IPO in 2004. It has grown organically and through acquisitions in distribution, generation, commercialization, and now operates in 5 states. CPFL Energia has received numerous awards and recognition for its performance, corporate governance, investor relations and transparency. It is listed on the Novo Mercado and its ADRs trade on the NYSE.
Merrill Lynch Bahia All-in-One Pan-LatAm Conference*CPFL RI
CPFL Energia has grown significantly since its IPO through both organic growth and acquisitions. It began with distribution operations in two Brazilian states serving over 5 million customers. Through acquisitions and expansion, it has added operations in two more states and now serves over 6 million customers across 568 municipalities with a distribution network of over 196,000 km. CPFL Energia has aggressively pursued a strategy of growth in distribution, generation, and energy commercialization.
CPFL Energia operates in the distribution, generation, commercialization, and transmission of electricity in Brazil. It has experienced strong growth through both organic expansion and acquisitions. As of 2007, CPFL Energia had 8 distribution companies serving over 6 million customers, 32 small hydroelectric plants and 8 large plants with over 1,500 MW of installed capacity. It also had a leading commercialization market share of 23%. CPFL Energia has consistently delivered high EBITDA and net income growth while maintaining a conservative capital structure and paying substantial dividends to shareholders.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights of CPFL Energia, a major player in the market.
The key points are:
1) The Brazilian energy market is concentrated among a few large companies and state-owned entities still control a significant portion of generation assets.
2) CPFL Energia is one of the largest private companies in distribution and commercialization and the 4th largest in generation. It has a diversifying portfolio following recent acquisitions.
3) CPFL Energia has a track record of growth and operational efficiency as seen in its expanding capacity, increasing earnings, and focus on renewable energy sources like biomass.
Morgan Stanley - 12th Annual London-based Latin American Conference (14 a 15-...CPFL RI
The document provides an overview of the Brazilian energy market and highlights for CPFL Energia, a major player within it. Some key points:
- The Brazilian energy market is concentrated among a few large companies and state-owned entities control around 70% of generation assets and 34% of the market share.
- CPFL Energia is the largest private company in distribution and commercialization in Brazil and the 4th largest generator, operating primarily in the southeast region.
- In recent years CPFL has expanded through acquisitions of distribution companies, generation plants, and stakes in other entities, totaling R$1.1 billion in investments.
The Brazilian electricity distribution market has 64 companies serving 63 million customers. In 2008, these companies distributed 393 terawatt-hours of energy. The top 5 distribution groups control 48% of the market, while state-owned companies make up 34% and private companies control 66% of the market. The document discusses market share breakdown and investment opportunities in Brazil's electricity distribution sector.
'12ª Conferência Anual América Latina - Santander (15 a 18-01-2008)'CPFL RI
CPFL Energia has grown aggressively since 1997 through acquisitions and investments in distribution, generation, and commercialization of electricity in Brazil. It is a leader in these sectors with over 13% of the distribution market share and operations across São Paulo, Rio Grande do Sul, Paraná and Minas Gerais states. Recent deals include purchases of stakes in distribution and generation companies to increase its installed capacity to over 2 GW by 2010.
CPFL Energia has grown significantly since its 1997 IPO through acquisitions and expanding its electricity distribution, generation, and commercialization businesses. It is now one of the largest players in Brazil's electricity sector with a 13.8% market share in distribution across 5 states. CPFL Energia's generation capacity has grown from 801 MW in 2000 to a projected 2,174 MW in 2010 through new power plants and acquisitions. The company has a focus on hydropower and small private plants.
CPFL Energia reported strong financial results for 2004. Net income was R$279 million compared to a net loss in 2003. Revenues increased 18% to R$9.5 billion driven by a 4.9% increase in energy sold. The company consolidated its position as a market leader in distribution and commercialization in Brazil. Looking forward, CPFL Energia expects continued growth from its efficient distribution operations and expanding commercialization and generation businesses.
CPFL Energia reported strong financial results for 2004, with net income of R$279 million compared to a net loss in 2003. Key highlights included an 18% increase in gross revenues to R$9.5 billion, a 9% increase in EBITDA to R$1.68 billion, and reduction of financial debt. The company also invested in expansion projects and aims to invest a total of R$2.6 billion through 2008 for maintenance and growth. CPFL Energia achieved these results through leadership in distribution, commercialization, and generation businesses in Brazil.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, commercialization, and solutions and services. The distribution segment operates four concessions serving over 9 million customers. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL is pursuing operational efficiency initiatives across its business segments and has a strategic plan focused on growth through M&A and greenfield projects.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, and commercialization and services. The distribution segment operates four distribution companies serving over 9 million customers across Brazil. The generation portfolio includes over 4 GW of installed capacity from renewable sources. CPFL has a strategic plan focused on operational efficiency, portfolio optimization and growth.
This document provides an overview of CPFL Energia, a leading utility company in Brazil. It details CPFL's corporate structure and business segments, which include distribution, generation and transmission, commercialization, and solutions and services. The distribution segment operates four concessions covering 687 cities with 9.7 million customers. The generation portfolio has over 4.3 GW of installed capacity from renewable sources. CPFL is pursuing operational efficiency initiatives across its business segments and has a strategic plan focused on productivity, growth, and sustainability.
The document provides an overview of CPFL Energia, a leading utility company in Brazil. Some key points:
- CPFL has a diversified portfolio including generation, transmission, distribution, and commercialization. It is the 2nd largest distribution company and 3rd largest private generator in Brazil.
- In 2018, CPFL had $6 billion in EBITDA from its various business segments. Generation and distribution accounted for the majority (57% and 22% respectively) of EBITDA.
- CPFL identifies five strategic pillars - differentiated governance, financial discipline, synergistic growth, sustainability, and operational efficiency. It aims to grow through both organic projects and M&A opportunities while maintaining financial discipline.
This presentation summarizes CPFL Energia's 1Q19 results. Key highlights include:
- EBITDA grew 12.1% to R$1,531 million due to higher revenue from distribution and commercialization & services segments.
- Net income increased 36% to R$570 million mainly from lower debt charges.
- Load in the concession area grew 1.9% with increases in the residential and commercial classes.
- Leverage was 2.70x, below the financial covenants criteria of 3.05x.
Apresentação de Resultados 1T19 - CPFL EnergiaCPFL RI
O documento apresenta os resultados financeiros da CPFL Energia no 1T19, destacando:
1) Crescimento de 12,1% no EBITDA em comparação com o 1T18;
2) Aumento de 36% no lucro líquido em relação ao mesmo período do ano anterior;
3) Investimentos de R$ 445 milhões realizados no trimestre.
1) CPFL Energia is one of the largest private electricity companies in Brazil, operating in distribution, generation, commercialization, and renewable energy.
2) In 2018, the company had EBITDA of R$5,637 million and a net income of R$2,166 million. It has over 9.6 million customers and 3,272 MW of installed generation capacity, 95% of which comes from renewable sources.
3) CPFL Energia has a diversified portfolio of generation assets including hydroelectric, wind, and solar plants. It is also developing new renewable projects and recently acquired transmission lines. The company aims to offer integrated energy solutions while maintaining operational efficiency.
O documento fornece um resumo da CPFL Energia, uma das maiores empresas privadas do setor elétrico brasileiro. Apresenta detalhes sobre suas operações nas áreas de distribuição, geração e comercialização de energia, além de seus planos de crescimento futuro focados em eficiência operacional, soluções integradas e geração distribuída.
- CPFL reported a 15.9% increase in EBITDA and 74.2% increase in net income for 2018 compared to 2017. Key drivers included tariff adjustments, lower debt costs, and compensation agreements.
- Energy sales grew 1.2% in 4Q18 and 2.5% for 2018, led by increases in the residential and industrial classes.
- CPFL Renováveis anticipated the commercial start-up of the Boa Vista II SHPP in November 2018 and won projects in the A-6 auction.
Apresentação de Resultados 4T18/2018 - CPFL EnergiaCPFL RI
O documento apresenta os resultados financeiros da CPFL Energia no quarto trimestre e ano de 2018, destacando aumentos de 15,9% no EBITDA anual e de 74,2% no lucro líquido anual, bem como investimentos de R$2,1 bilhões em 2018. Também ressalta aumentos na carga e vendas de energia na área de concessão e revisões tarifárias realizadas.
Corporate presentation cpfl energia nov2018 enCPFL RI
CPFL Energia is one of the largest private electricity companies in Brazil with operations in distribution, generation, commercialization, and services. In the last 12 months, it generated R$5.65 billion in EBITDA. It has over 5 million distribution customers, 3,283 MW of installed generation capacity (95% renewable), and is a leader in renewable energy in Brazil. CPFL Energia aims to increase operating efficiency through technology and innovation while strategically growing its business and creating value.
Corporate presentation cpfl energia nov2018 ptCPFL RI
A CPFL Energia é uma das maiores empresas privadas do setor elétrico brasileiro, atuando nos segmentos de distribuição, geração e comercialização de energia. A empresa possui 5 distribuidoras, 3.283 MW de capacidade gerada, sendo 95% de fontes renováveis, e é líder no mercado de comercialização de energia para clientes livres. A apresentação destaca os principais números financeiros e operacionais da CPFL Energia.
CPFL reported its 3Q18 results, highlighting increases in net operating revenue (+4.4%), EBITDA (+21.4%), and net income (+60.5%). Energy sales in the concession area grew 2.0% due to increases in the residential (+2.0%) and industrial (+2.4%) segments. Net debt was R$15.5 billion with a leverage ratio of 2.92x. The company won projects in the 28th energy auction, including the Cherobim SHPP (28 MW) and Gameleira Wind Complex (69.3 MW). CPFL also discussed its renewable generation projects totaling 127.2 MW of installed capacity by 2024 and provided an update on its
Apresentação de Resultados 3T18 - CPFL EnergiaCPFL RI
Este documento apresenta os resultados financeiros da CPFL Energia para o terceiro trimestre de 2018, destacando um crescimento de 4,4% na receita líquida e de 21,4% no EBITDA em comparação com o mesmo período do ano anterior. O documento também fornece detalhes sobre investimentos em novos projetos de geração renovável e sobre o programa CPFL Inova para conectar a empresa a startups.
CPFL Energia is one of the largest private electricity companies in Brazil with operations in distribution, generation, commercialization, and services. Some key points:
1) It has 5 distribution companies serving over 9.5 million customers and a market share of 14% in distribution.
2) In generation, it has over 3,283 MW of installed capacity, of which 95% comes from renewable sources like hydro.
3) It is the largest renewable energy company in Brazil and third largest private generator.
4) Other business segments include commercialization of electricity to free consumers and various technical and commercial services to clients.
A CPFL Energia é uma das maiores empresas privadas do setor elétrico brasileiro, atuando nos segmentos de distribuição, geração e comercialização de energia. Apresenta um perfil diversificado de ativos, com foco em fontes renováveis e presença nas regiões mais desenvolvidas do país. Sua estratégia visa a eficiência operacional, crescimento sustentável e atuação em assuntos regulatórios para garantir a sustentabilidade do setor elétrico.
- CPFL reported financial results for 2Q18 with net revenue growth of 16.5% and EBITDA growth of 33.3% compared to 2Q17.
- Key drivers included a 3.8% increase in energy demand, tariff increases, and the start-up of new renewable generation projects.
- Net debt was R$15.7 billion with leverage of 3.11x net debt/EBITDA, and the company secured R$3.4 billion in new funding.
Apresentação de Resultados 2T18 - CPFL EnergiaCPFL RI
Este documento apresenta os resultados financeiros da CPFL Energia no 2T18, destacando o crescimento de 16,5% na receita líquida e de 33,3% no EBITDA em relação ao mesmo período do ano anterior. Apresenta também indicadores operacionais das distribuidoras, vendas de energia, inadimplência, perfil da dívida e perspectivas para geração.
This document provides an overview of CPFL Energia, the largest integrated private electricity company in Brazil. Some key points:
- CPFL Energia has a market cap of R$23 billion and presence in distribution, generation, commercialization and services segments.
- In distribution, CPFL has 5 distributors serving 9.4 million customers. In generation, it has 3,283 MW of installed capacity, 95% from renewable sources.
- In 2017, EBITDA was R$5 billion, with distribution accounting for 49% and generation for 25%. Net income was R$1.4 billion.
- The company aims to increase efficiency through technology and innovation, pursue strategic growth through acqu
A apresentação institucional descreve a CPFL Energia como a maior empresa privada do setor elétrico brasileiro, com atuação nas áreas de distribuição, geração, comercialização e serviços. A empresa possui 5 distribuidoras, 3.283 MW de capacidade instalada de geração, com foco em fontes renováveis, e liderança no mercado de comercialização junto a consumidores livres. A estratégia da CPFL Energia inclui expansão orgânica e aquisições para crescimento sustentável.
2. Summary
Energy market overview
CPFL Energia – Highlights and Results
CPFL Energia – Evolution 4 years since IPO
2
3. Brazilian market has 64 distribution’s companies
Market Share1 (%)
Distribution Business – 2007
CPFL Energia 13,3%
Distributors (#) 64
Brasiliana Energia 12,1%
Clients (million) 61 Cemig 8,6%
Distributed Energy (TWh) Neoenergia 7,4%
376.9
Copel 6,8%
EdB 5,7%
Market Breakdown
Celesc 4,0%
• The 5 largest groups have 50%
of market-share Ashmore Energy 3,7%
• State-owned companies: 34% Energisa 3,5%
• Private Company: 66% Others 34,8%
Spreading proposes consolidation opportunities
3 1) ANEEL – Ref. 2Q07 annualized (Recalculation of CPFL’s participation)
4. Brazilian market has 1,695 hydroelectric plants. The public sector
concentrates 70% of the assets
Market Share (%)
Generation Business – 1Q08
Chesf 10%
Hydroelectric plants (#) 1,695 Furnas 9%
Eletronorte 9%
Installed Capacity (MW) 108,852
Cesp 7%
Itaipu 7%
Cemig 6%
Market Breakdown Tractebel 6%
Copel 4%
• The 6 largest groups have 50%
Petrobrás 4%
of the market
AES Tietê 3%
• State-owned companies: 70% Duke 2%
• Private Company: 30% CPFL Energia 2%
Others 31%
4th largest private generation company in Brazil
4 Source: Aneel – last information available Market breakdown: Acende Brasil
5. Summary
Energy market overview
CPFL Energia – Highlights and Results
CPFL Energia – Evolution 4 years since IPO
5
6. CPFL Energia – Highlights
• Brazilian’s largest player in distribution and commercialization
businesses
• Energy market is concentrated in the most developed regions of Brazil
(South/Southeast)
• CPFL is listed in the Novo Mercado in Bovespa and ADR level III in
NYSE
• Differentiated Dividend Policy: payment of 50% of the net income on a
semi-annual basis
• 100% hydraulic generation portfolio, with a strong growth in the
installed capacity in the last few years
• Long term generation and distribution concessions
• 5 distribution companies’ acquisition, 9 SPP’s and RGE’s stake (33%),
Foz do Chapecó HPP’s stake (11%) and Lajeado HPP’s stake (7%) in
the last 2 years, with a R$ 1.1 billion investment
• First company in the Brazilian electric sector to negotiate carbon
credits, through a run-of-stream HPP
• Constitution of CPFL Bioenergia, for investments in energy generation
from biomass
6
8. CPFL Energia’s Investment Case join the current portfolio growth with acquisition
opportunities
• Organic growth and leadership in market-share
• Operational efficiency focus
• Small distribution companies acquisition, strategically located
Distribution
• Large distribution companies acquisition
• Cooperatives acquisition
• Private networks incorporation
• High EBITDA margin
• Long term concessions
• Projects’ conclusion
Generation
• SPP’s repowering, construction and acquisition
• Energy cogeneration through biomass
• Green field projects - Auctions
• Leadership in market-share: 22%
• Increasing in Value Added Services (VAS) and new products and services
Commercialization • New opportunities - clients between 0.5 and 3.0 MW, supplied by cogeneration or SPP’s
• Consistent results
8
9. Increasing scale gains through CPFL Energia’s management expertise
DISTRIBUTION
DEC1 - Hours
14.6 17.0
9.5
8.4
6.4 7.1 7.2
5.4 5.5 6.1
CPFL Mococa CPFL Santa CPFL Leste CPFL Paulista CPFL CPFL Jaguari CPFL Sul RGE Consolidated
'
Cruz Paulista Piratininga Paulista
FEC1 - Times
12.0
9.80
7.76 8.32
6.66 6.74
5.85 5.78 5.82 5.69
CPFL Mococa CPFL Santa CPFL Leste CPFL Paulista CPFL
'
CPFL Jaguari CPFL Sul RGE Consolidated
Cruz Paulista Piratininga Paulista
3Q08 Brazilian Average2
9 (1) Sep/2008 – Annualized values (2) Source: ANEEL. Last available figures – Aug/08
10. Strong growth in the installed capacity and long term concessions in the generation
ventures
GENERATION
Installed Capacity (MW) %
25.1
Assured Energy (MWmedium) 9.3% 2,174
%
Concession Term 48.2
1,737 1,738
1,588
%
25.5
1,072 7.6%
812 854 915 40.2
%
861 862 1,082
800
434 472 525 571
2003 2004 2005 2006 20073 2008(e) 2009(e) 2010(e)
SPP’s CPFL Geração Monte Claro Barra Grande Campos Novos Castro Alves Foz do Chapecó
2027 2036 2036 2035 2036 2036
Serra da Mesa1 CPFL Sul2 Lajeado 14 de Julho
2028 2032 2036
SPP’s
CPFL Jaguariúna3
2015
(1) CPFL has the right of 51.54% of the Assured Energy until 2028 (2) Hydroelectric projects with installed capacity <= 1,000 kW are not eligible to concession
10 (3) Among the 9 SPP’s of CPFL Jaguariúna, 6 are in the situation mentioned in note 2 Note: Includes expected two SPP’s repowering in 2009
11. SPP’s: Greenfield Projects
GENERATION
Partnership to studies and implementation of SPP’s
Feasible in the
medium and long
term
70 analysed projects and
enrollment in ANEEL for 10 projects Capacity:
6 75.6 MW
60
4 Estimated
discarded investment:
• Low Internal Rate of Return
• PPA’s already signed with unattractive prices
projects R$ 285 million
• Impracticable environmental requirements
Feasible in the
short term
Basic projects
and
Technical ANEEL and Installation
environmental
Feasible Projects in the short studies and studies environmental License and
term (up to 30 months) enrollment agencies’ construction of
(necessary for
in ANEEL approval the SPP’s
the previous
license)
OK 2008 2008/2009 24 months
11
13. CPFL Energia is alert to the opportunities of business involving sugar cane biomass
GENERATION Business Model COMMERCIALIZATION
• High pressure boilers
CPFL invests in the
• Condensing turbines Energy purchased from biomass source to sell
generation-related
• Back pressure turbines in the free market
machinery…
• Substation and transmission
…and receives
the exceed
energy, for a
certain period Energy supply
contract
Baldin Project – CPFL Bioenergia’s 1st project
• Contract signed: Aug 2008
Amount: over R$ 500 million
• Construction of a sugar cane Contract period: 2009 to 2023
bagasse-fired thermoelectric
CPFL
Investment:
generation plant R$ 98 million
% of bioelectricity energy purchased in
• Location: Pirassununga – SP
CPFL Brazil contracts
• Expected operations: April 2010 13%
10%
CPFL will have the right to 25 MW of energy exported
during harvest season: 112 GWh/year Current After the contract
13
15. CPFL presents sales growth in the concession area and in the free market
Concession Area Sales - GWh Free Market Sales (GWh)
27.8%
TUSD
46,475 178.9%
CAPTIVE
41,363
36,364 38,498 36,549
11,230
3,288 7,263 9,585 9,334 8,951
8,887
7,120 6,659
33,076 31,235 31,778 35,245 3,209
27,662
2004 2005 2006 2007 9M08 2004 2005 2006 2007 9M08
Concession Area Sales – GWh – 9M08
6,6%
Brazil1 South1
4,5%
4,1% Southeast1 4,9%
4,3%
3,9%
Note: excludes intercompany transactions (consolidation accounting basis), CCEE and generation sales (except to the free market)
15
15 (1) Source: EPE (3Q08)
16. Conclusion of the 2nd Periodic Tariff Revision cycle for the Group’s distributors,
with CPFL Paulista and RGE’s indexes released in April
1st Cycle 20031
2nd Cycle 2007/083
CPFL Paulista, CPFL Paulista, Acquisitions (CPFL
CPFL Piratininga CPFL Piratininga Santa Cruz and Total
and RGE and RGE CPFL Jaguariúna)
Gross RAB 8,173 9,897 21% 528 10,425 28%
Reintegration Quote 371 430 16% 23 454 22%
Net RAB 3,857 4,547 18% 284 4,832 25%
Parcel B1 1,823 2,208 21% 173 2,381 31%
Reference Company 783 1,028 31% 104 1,132 45%
R$ million
Note: Nominal values (1) Values for the 1st and 2nd cycle using the same methodology: 2nd cycle – exclude PIS/COFINS and R&D charges (2) With financial components
16 (3) Includes adjustment of CPFL Piratininga’s Tariff Revision in Oct. 2008