Cteep, profile picture
Uploaded byCteep
423 views

Apimec ing

- ISA presented results for the 2nd quarter of 2013 and the first half of 2013, as well as its strategic review and plans. - CTEEP's operating performance remained strong, with uptime indicators of 99.97% for transformers and 99.99% for transmission lines. However, financial results declined significantly from the same period last year. - ISA aims to improve returns from current businesses, capture new growth opportunities with higher returns, and optimize its business and geographic portfolio through dynamic adjustments.

Embed presentation

Download to read offline
1 APIMEC 2013 and Presentation of Results for 2Q13 São Paulo - August 15th, 2013
2 APIMEC 12 –Year Seal
3 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
4 ISA - Profile More than 48 years of experience in the energy transmission sector Assets in energy transmission, telecommunications and highways Footprint in Brazil, Chile, Argentina, Colombia, Peru, Bolivia and Central America USD 890 milllion in operating revenue in the first quarter of 2013 Long-term financial investor with focus on optimizing of capital structure CTEEP is a component of one of the largest energy transmission groups in Latin America Consolidated EBITDA by businessConsolidated EBITDA by country 39% 27% 21% 11% Colombia Chile Brazil Peru 67% 27% 4% 2% Transporte de energia Concessões Viárias Telecomunicação Gestão de Sistema em tempo Real Electric Energy Transport Road Concessions Telecommunications Transport Smart Management of Real Time System
5 MEGA Achievements Targets for 2016 Goals reached by 2012 Revenue of USD 3.5 billion USD 2.434 billion (70%) 80% of revenue generated outside Colombia USD 1.664 million (68%) 20% of revenue from different Energy Transmission sectors USD 538 million (22%) Presence in 50% of energy interconnections International interconnections Business diversification Entry into the Highway Concessions business Largest data transmitter in the Andean Region Continental leadership in connectivity infrastructure Development of future energy markets Energy derivatives negotiation system
6 Up to the current time ISA’s growth exceeded targets <Progress at MEGA Revenue in US$ MM 2,410 1,931 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 2006 2007 2008 2009 2010 2011 CAGR1 +20% +25% MEGA upward path defined in 2006 ISA Revenue CAGR- Compound Annual Growth Rate SOURCE: 2011 Consolidated Results Statement and Consolidated Financial Plan updated in August 2012
7 ISA’s growth exceeded other benchmark companies in electric energy transmission 28 20 13 12 11 9 9 5 sOURCE: Financial information from ISA for August 2012; CPAT; Working team’s analysis Average annual growth in revenue %, CAGR1 2006-11 14% average 1 CAGR- Compound Annual Growth Rate ) 2 CAGR 2007-2011 3 CAGR 2010-2011
8 Results 2006 -2012 1 Year 2006 Year 2012 Geographical expansion, diversification 16,836 km to 40,626 km of circuits (142%). 4,267 km to 22,730 km of optic fiber cable (433%). 6 to 30 companies. Entry into the Highway Concessions business. Transformation of Markets’ Operation and Management business. Financial and economic management, growth 100% in assets. 113% in operating revenue. 161% in EBITDA. 81% in profits. 70% share appreciation (closing 2005). About US$ 500 million in dividends.
9 Corporate Strategy - Consolidation START GROWTH MATURITY … recognize and consolidate the capacity both in scale and jointly for preparing the foundations for the next phase of the growth cycle.
10 Corporate Strategy - Guidelines Group returns as the principal strategic aspiration Mix of businesses and geographies: on the basis of synergy of existing assets and capacities, principally in Colombia, Brazil, Peru and Chile. Growth: will depend on the opportunities for achieving the desired level of return (higher). ISA’s vocation: creation of value through “excellence” in operation and development of the infrastructure. Capture of growth opportunities with higher returns 1 Improvement in returns from current businesses and “core” business 2 Dynamic adjustment of businesses and geographies portfolio 3
11 ISA is aligned around 3 strategic axes Capture of growth opportunities with higher returns for ISA ▪ Focus on profitable opportunities in Energy Transmission (ET) –Focus on growth opportunities in higher return ET segments –Selective participation in new tender bids (according to the degree of synergies with current assets, expansion in sub- transmission assets) –Opening up of new markets with opportunities for creating value through restructuring ▪ Development of highway concessions, principally in Colombia ▪ Capture of highly synergetic opportunities in other businesses such as: –Telecoms1 –Real Time Systems Intelligent Management Dynamic adjustment of business and geographies portfolio Maintain active a constant reflection on opportunities for adjusting the portfolio based on criteria of: –Potential for value creation at ISA in relation to the value for a third party –Access to profitable growth opportunities –Return in relation to other options 1 Improvement in returns from current Group businesses and "core" business ▪ Improvement in Group O&M through identification and extension of best practice in a transversal manner ▪ Leveraging of the Group scale in supplies of equipment, materials and projects ▪ Ensure cost and delivery and optimization of CapEx 2 3
12 ISA’s Vision ISA will have a higher return than the cost of equity and long-term stability. In the Energy Transmission business, ISA will maintain its position of operator with the largest footprint in Latin America, consolidating its position in the region and reaching high levels of operating efficiency aligned to best global practices. In the Highway Concessions business, ISA will capture opportunities in the region with a focus on Colombia. In the Telecoms Carrier Network business, ISA will consolidate its leadership as na independent carrier in Latin America, developing an IP (internet protocol) ecosystem in the region. ISA will expand its Real Time Systems Intelligent Management with new services, accessing new highly profitable opportunities in other sectors. ISA 2020 By 2020, ISA will have multiplied its profits 3 times through the capture of the most profitable growth opportunities in the existing businesses in Latin America, increase in efficiency and portfolio optimization.
13 Strategic Directions Cycle ISA’s Strategic Update ISA’s Strategic Update New scenário for the sector New scenário for the sector Company Profile Post- Concession Rollover Company Profile Post- Concession Rollover A atualização estratégica da ISA embasa o ciclo de Direcionamento Estratégico da CTEEP
14 Strategic Guidance Cycle 2013 ISA’s Strategic Update ISA’s Strategic Update New scenario for the sector New scenario for the sector Company Profile Post Concession Rollover Company Profile Post Concession Rollover New scenario for the sector New scenario for the sector Company Profile Post Concession Rollover
15 Regulatory challenges Indemnification for the existing system (ES) Indemnification for the improvements Remuneration of future improvements Capital Structure Adjustment to the new operating reality Reduction in debt to the new optimum financial leverage Preference for long-term financial resources Operating Efficiency and Growth Optimization of costs Efficiency in the investments in capacity upgrades and improvements Selectivity in participating in auctions and acquisitions Challenges
16 Strategic Focus Atualização da Estratégia CTEEP’s strategy implies efforts in the direction of PRODUCTIVITY AND EFFCIENCY, Responding to the requirements of an increasingly demanding and dynamic market, with outstanding RETURNS. For the 2013/2014 cycle, CTEEP has itemized some strategic initIatives: Smart Grid Optimization of Costs Capital Structure and Debt Endividamento Regulatory Management Updating of Strategy
17 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
18 Operating performance The indicator for first half results remained at 99.97% for Transformers and 99.99% for Transmission Lines, showing an excellent Operating Performance. ENES – Energy Not Supplied Uptime Indicator 1285.16 1208.42 1057.37 173.78 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
19 Parcel A Cost Variation Account Source: ONS 0.66% 1.26% 0.20% 0.44% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% 1.10% 1.20% 1.30% 1.40% 1.50% JUL AGO SET OUT NOV DEZ JAN FEV MAR ABR MAI JUN Transmissoras Ciclo 11/12 Transmissoras Ciclo 12/13 CTEEP Ciclo 11/12 CTEEP Ciclo 12/13 1.26% 0.66% 0.44% 0.20% Transmitters 11/12 Cycle Transmitters 12/13 Cycle CTEEP Cycle 11/12 CTEEP Cycle 12/13 AUG SEP OCT NOV DEC JAN FEV MAR APR MAY JUNJUL
20 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
21 Results - Consolidated Consolidated (*) ex Depreciation (**)ex Amortization of goodwill Gross Operating Revenue 235.2 563.4 (58.2%) 469.3 1,111.6 (57.8%) Deductions from Operating Revenue (29.9) (81.6) (63.3%) (63.1) (136.1) (53.6%) Net operating revenue 205.3 481.9 (57.4%) 406.2 975.4 (58.4%) General and Administrative Expenses* (185.7) (172.8) 7.4% (364.8) (348.5) 4.7% Other Operating (Expenses)/Income** 2.3 (3.6) 164.2% 16.8 (3.0) 660.6% Equity 23.7 14.5 63.7% 44.5 26.0 71.1% EBITDA 45.7 319.9 (85.7%) 102.7 649.9 (84.2%) % Margem EBITDA 22.3% 66.4% -66.5% 25.3% 66.6% -62.1% Depreciation (9.3) (8.2) 12.9% (18.6) (16.7) 11.3% EBIT 36.4 311.7 (88.3%) 84.1 633.2 (86.7%) Financial Results 11.9 (52.2) 122.8% 50.9 (108.1) 147.1% Operating Income 48.3 259.5 (81.4%) 135.0 525.1 (74.3%) IR & CSLL (0.9) (58.4) (98.4%) (16.6) (118.9) (86.0%) Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) Results (R$ million) ∆%2Q13 2Q12 ∆% 1S13 1S12
22 Results - Company (*) ex Depreciation (**)ex Amortization of goodwill Gross Operating Revenue 206.3 532.7 (61.3%) 402.2 1,047.1 (61.6%) Deductions from Operating Revenue (27.4) (78.7) (65.2%) (56.9) (150.5) (62.2%) Net operating revenue 179.0 454.0 (60.6%) 345.3 896.6 (61.5%) General and Administrative Expenses* (170.8) (153.3) 11.4% (324.1) (307.0) 5.6% Other Operating (Expenses)/Income** 2.3 (6.1) (137.8%) 16.8 (5.5) (405.5%) Equity 29.5 18.9 56.5% 53.6 52.3 0.0% EBITDA 40.0 313.4 (87.2%) 91.6 636.4 (85.6%) % Margem EBITDA 22.4% 69.0% -67.6% 26.5% 71.0% -62.6% Depreciation (9.3) (8.2) 12.9% (18.6) (16.7) 11.3% EBIT 30.8 305.2 (89.9%) 73.0 619.7 (88.2%) Financial Results 16.4 (46.5) (135.3%) 60.0 (97.8) (161.4%) Operating Income 47.2 258.7 (81.8%) 133.0 521.9 (74.5%) IR & CSLL 0.2 (57.6) (100.4%) (14.6) (115.6) (87.3%) Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) 1S12 ∆% Results (R$ million) 2Q13 2Q12 Δ% 1S13
23 Gross Revenue 2Q13 2Q12 Change 1S13 1S12 Change 2Q13 2Q12 Change 1S13 1S12 Change Construction 30.5 41.1 -25.8% 55.1 79.5 -30.7% 39.3 59.8 -34.2% 85.8 121.1 -29.1% Operation and Maintenance 149.1 162.7 -8.3% 288.2 319.3 -9.8% 155.2 166.6 -6.8% 298.9 324.1 -7.8% Financial 21.5 324.3 -93.4% 48.5 638.5 -92.4% 35.7 332.5 -89.3% 74.5 656.5 -88.7% Others 5.3 4.6 15.3% 10.5 9.9 6.8% 5.0 4.6 9.5% 10.0 9.9 1.8% Total 206.3 532.7 (61.3%) 402.2 1,047.1 (61.6%) 235.2 563.4 (58.2%) 469.3 1,111.6 (57.8%) Gross Revenue (R$ '000) Company Consolidated
24 Costs and Expenses (*) ex depreciation 2Q13 2Q12 ∆% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Personnel (59.5) (57.8) 3.0% (128.6) (116.7) 10.2% (61.2) (59.8) 2.5% (132.2) (119.9) 10.3% Material (21.4) (21.1) 1.6% (41.4) (46.6) -11.1% (32.3) (43.3) -25.4% (74.0) (81.9) -9.7% Services (48.6) (57.2) -15.1% (91.6) (102.9) -10.9% (50.4) (53.3) -5.3% (95.5) (105.2) -9.3% Others (16.8) (12.9) 30.4% (30.5) (30.8) -1.0% (17.2) (12.1) 41.6% (31.2) (31.4) -0.7% Contingencies (24.6) (4.4) 454.0% (31.9) (10.0) 219.2% (24.6) (4.4) 454.0% (31.9) (10.0) 219.2% Total (170.8) (153.3) 11.4% (324.1) (307.0) 5.6% (185.7) (172.8) 7.4% (364.8) (348.5) 4.7% Cost and Expenses* (R$ million) Company Consolidated
25 Ebitda and Ebitda Margin 2Q13 2Q12 Δ% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) Income tax and social contribuition (0.2) 57.6 (100.4%) 14.6 115.6 (87.3%) 0.9 58.4 (98.4%) 16.6 118.9 (86.0%) Financial Results (16.4) 46.5 (135.3%) (60.0) 97.8 (161.4%) (11.9) 52.2 (122.8%) (50.9) 108.1 (147.1%) Leases and rentals/Amortization 9.3 8.2 12.9% 18.6 16.7 11.3% 9.3 8.2 12.9% 18.6 16.7 11.3% EBITDA 40.0 313.4 (87.2%) 91.6 636.4 (85.6%) 45.7 319.9 (85.7%) 102.7 649.9 (84.2%) EBITDA Margin 22.4% 69.0% (46.7) 26.5% 71.0% (44.4) 22.3% 66.4% (44.1) 25.3% 66.6% (41.4) EBITDA - ICVM 527 (R$ million) ConsolidatedCompany
26 Financial Result (*) Includes charges, income and foreign exchange hedges on CCB International and Commercial Paper 2Q13 2Q12 ∆% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Interest Receivable 38.0 3.1 1140.8% 83.8 8.2 923.9% 38.4 3.3 1066.9% 84.5 8.9 851.9% Monetary (net) 16.7 (1.4) 1310.3% 47.3 (3.1) 1644.8% 16.7 (1.4) 1310.3% 47.3 (3.1) 1644.8% Financial Expenses* (38.3) (48.1) 57.1% (71.1) (102.9) (20.4%) (43.2) (54.1) 53.1% (80.8) (113.9) (23.0%) Total 16.4 (46.5) 135.3% 60.0 (97.8) 161.4% 11.9 (52.2) 122.8% 50.9 (108.1) 147.1% Financial Result (R$ million) Company Consolidated
27 201.2 47.4 406.3 118.4 2Q12 2Q13 1S12 1S13 Net Income (R$ million)
28 Debt 29.4% 60.2% 10.1% 0.2% Distribuition of debt contracting BNDES Comercial Papers Debêntures Banks Others 29.4% 56.5% 3.7% 10.3% Interest Rate TJLP CDI IPCA Others FUNDING CHARGES MATURITY 2Q13 2012 BNDES TJLP + 2,3% year 15/06/15 187,884 234,681 TJLP + 1,8% year 15/06/15 112,627 140,798 Comercial Papers 6th Series - CTEEP 104,9% CDI yera 05/01/13 0 433,873 Debêntures 1st Issuance - CTEEP CDI + 1,3% year 15/12/14 326,282 325,959 2nd Issuance - CTEEP IPCA + 8,1% year 15/12/17 70,747 70,915 Single Series - CTEEP 105,5% do CDI year 02/07/14 752,858 726,476 Banks USD + 4% year 26/04/13 0 132,309 USD + 2,1% year 21/10/13 192,809 177,318 Eletrobras 8% year 15/11/21 315 340 Leasing - - 4,207 5,048 TOTAL CTEEP: 1,647,729 2,247,717 BNDES IEMG TJLP + 2,4% year 15/04/23 49,953 52,513 TJLP + 2,6% year 15/05/26 45,912 47,758 5,5% year 15/01/21 76,274 80,152 TJLP + 1,9% year 15/05/26 47,933 49,801 TJLP + 1,5% year 15/05/26 41,412 43,038 TOTAL SUBSIDIARIES 261,484 273,262 Total Consolidated (R$ mil) 1,909,213 2,520,979 SERRA DO JAPI CTEEP CTEEP PINHEIROS
29 Breakdown of Net Debt (*) As from January 2013, the Company’s financial investments have been concentrated in exclusive investment funds. These are made up of highly liquid investment fund units, readily convertible into cash, irrespective of the maturity of the assets. Debt 1,909.2 2,521.0 Short-term Debt 549.6 28.8% 1103.2 43.8% Long-term Debt 1,359.6 71.2% 1,417.8 56.2% Cash* 1233.6 309.6 Net Debt 675.6 2,211.4 EBITDA 12 months 823.2 1,370.5 Net Debt/Ebitda (Last 12 months) 0.8 1.6 Debt (BRLm) Consolidated 20122Q13
30 Debt Repayment (R$ millions) Future Cash (NI) 2013 2014 2015 Total Accounts Receivable (NI) - (projection) 286.0 572.1 333.7 1,191.8 Interest Income on the Accounts Receivable (projection) 55.5 69.3 12.0 136.8 Total 341.6 641.4 345.7 1,328.7 Position of the Fund on 06/30/13: R$ 1.221.8 454.7 1,097.6 124.1 48.1 48.1 136.7 2013 2014 2015 2016 2017 After 2017 CTEEP Subsidiaries
31 Debt Joint Ventures IE MADEIRA ITAÚ BBA IPCA + 5,5% a.a. 3/18/2025 183.1 IE MADEIRA BNDES TJLP + 2,42% a.a. 2/15/2030 736.9 IE MADEIRA BNDES 2,5% a.a 10/15/2022 119.6 IE MADEIRA BASA 8,50% a.a.* 10/10/2032 140.5 Total IE Madeira (51% CTEEP) 1,180.1 IENNE BB CDI + 1,35% a.a 7/18/2013 4.4 IENNE BNB 8,50% a.a.* 5/19/2030 53.8 Total IENNE (25% CTEEP) 58.2 IEGARANHUNS HSBC 106,50% CDI 4/30/2014 96.6 Total IE GARANHUNS (51% CTEEP) 96.6 IE SUL BNDES 5,50% a.a. 1/15/2021 4.3 IE SUL BNDES TJLP + 2,58% a.a. 5/15/2025 4.4 8.7 1,343.5 Value (R$ MM) Total IE SUL (50% CTEEP) TOTAL (R$ milhões) Subsidiarie Bank Charges Maturity
32 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
33 Capital Market Total Trade: 126,096 Daily Average/Day: 985 Market value 06/30/13 R$6,2 billion70.00 100.00 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 TRPL3 TRPL4 IBOVESPA IEE -11.76% -22.14% 1.55% 12.25% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Trade Financial - 06/30/2013 (R$ million) Total R$ 936 Million Daily Average / Day R$ 7.3 million
34 On July 18, 2013, CTEEP engaged Credit Suisse to be the Market Maker for TRPL4 to enhance the liquidity of its preferred shares, thereby increasing the number of transactions and trading volume. In addition to offering greater secondary market liquidity, this initiative (which complies with the regulations established in CVM Instruction 384/2003) seeks to ensure that TRPL4 remains a component of BM&FBOVESPA’s IBrX-100 and Ibovespa stock indices (sharply impacted since the publication of MP-579/2012) Market Maker First results: Principal Characteristics Maximum spread 1.50% Minimum lot available 2.000 shares
35 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
36 Tariff Readjustment Ratifying Resolution 1.595 of June 27, 2013 Cycle: July 1, 2013 to June 30, 2014. Indices used for readjustment: IPCA/ IBGE Jun/12 to May/13 = 6.50% (NI authorized after June/2012) Out/12 to May/13 = 4.93% (O&M in the agreement addendum) Dec/12 to May/13 = 3.69% (AI – Adjustment Installment) after December/2012) IGP-M / FGV Jun/12 to May/13 = 6.22% (NI prior to June/2012) Jun/12 to Nov/12 = 4.46% (AI prior to December/2012) Analysis of RAP Cycle 2013-2014
37 RAP (whithout PIS/COFINS) (R$ ‘000) Subsidiaries % CTEEP RAP PA TOTAL RAP PA TOTAL CTEEP* - 540,760.0 (35,142.4) 505,617.6 590,949.0 (39,828.0) 551,121.0 9.0% IEMG 100% 14,161.0 (594.0) 13,567.0 15,082.0 (446.0) 14,636.0 7.9% IE Pinheiros 100% 33,491.0 1,697.0 35,188.0 36,305.0 (999.0) 35,306.0 0.3% Serra do Japi 100% 26,457.0 (1,355.0) 25,102.0 28,178.0 1,162.0 29,340.0 16.9% IENNE 25% 38,253.0 3,640.0 41,893.0 34,852.5 (1,198.3) 33,654.2 -19.7% IESUL 50% 13,075.0 (645.0) 12,430.0 13,925.1 (2,700.4) 11,224.7 -9.7% IE Madeira 51% 407,482.0 0.0 407,482.0 433,985.1 0.0 433,985.1 6.5% IE Garanhuns 51% 71,848.0 0.0 71,848.0 76,521.0 0.0 76,521.0 6.5% Evrecy 100% 10,735.0 (891.0) 9,844.0 9,957.0 (1,136.0) 8,821.0 -10.4% 1,156,262.0 (33,290.4) 1,122,971.6 1,239,754.7 (45,145.8) 1,194,608.9 6.4% REH. nº 1.313 - Cycle 2012/2013 REH. nº 1.595 - Cycle 2013/2014 Change% RAP + PA Total (*) CTEEP’s 2012/2013 cycle corresponds to REH 1.395 of December 11, 2012
38 Agenda CTEEP - Operating Performance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
39 IFRS X Regulatory - Company (R$ million) IFRS Regulatory (not audited) 1S13 1S13 Net operating revenue 402.2 340.4 61.8 Receita de uso da rede elétrica 329.9 (329.9) Revenue from Construction Services 55.1 0 55.1 Revenue from Operational and Maintenance Services 288.2 0 288.2 Financial Revenue 48.5 0 48.5 Other Revenue 10.5 10.5 0.0 Deductions from Operating Revenue (56.9) (51.2) (5.7) Net Operating Revenue 345.3 289.2 56.1 Costs and Operating Expenses (324.1) (244.0) (80.1) Personnel (122.9) (122.9) 0.0 MSO (90.1) (89.2) (0.9) Contingencies (31.9) (31.9) 0.0 Construction costs (50.0) 0 (50.0) Improvements (29.2) 0 (29.2) Depreciation/Amortization (3.6) (6.6) 2.9 Financial Result 60.0 60.0 0.0 Equity 53.6 6.9 46.6 Amortization of goodwill (14.9) (14.9) 0.0 Other Operating (expenses/income) 16.8 15.8 1.0 Operating Income 133.1 106.4 26.6 IR & CSLL (14.6) (21.5) 6.8 Net Income 118.4 85.0 33.4 Results Adjustments/ Reclassification
40 IFRS X Regulatory - Consolidated (R$ million) IFRS Regulatory (not audited) 1S13 1S13 Net operating revenue 469.2 381.1 88.1 Receita de uso da rede elétrica 371.1 (371.1) Revenue from Construction Services 85.8 0 85.8 Revenue from Operational and Maintenance Services 298.9 0 298.9 Financial Revenue 74.5 0 74.5 Other Revenue 10.0 10.0 (0.0) Deductions from Operating Revenue (63.1) (55.1) (8.0) Net Operating Revenue 406.1 326.0 80.1 Costs and Operating Expenses (364.6) (252.5) (112.1) Personnel (126.6) (126.6) 0.0 MSO (98.0) (94.0) (4.0) Contingencies (31.9) (31.9) 0.0 Construction costs (78.1) 0 (78.1) Improvements (30.0) 0 (30.0) Depreciation/Amortization (3.6) (17.2) 13.6 Financial Result 50.9 50.9 (0.0) Equity 44.5 (0.3) 44.8 Amortization of goodwill (14.9) (14.9) 0.0 Other Operating (expenses/income) 16.7 15.8 0.9 Operating Income 135.0 107.8 27.2 IR & CSLL (16.6) (22.9) 6.3 Net Income 118.4 85.0 33.5 Results Adjustments/ Reclassification
41 Disclaimer All statements contained herein with regard to the Company’s business prospects, projected results and the potential growth of its business aremere forecasts, based on local management expectationsin relation to the Company’s future performance. Dependent as they are on market shifts and on the overall performance of the Brazilian economy and the sector and international markets, such estimates are subject to changes.
42 Investor Relations Tel: +55 11 3138-7557 ri@cteep.com.br www.cteep.com.br/ri Ethics Line Channel www.canalconfidencial.com.br/linhaeticacteep or by calling 0800 777 0775

More Related Content

PPTX
Apimec 2014 ing
byCteep
 
PDF
Gama Aviation Plc interim results H1 2016
byGama Aviation Plc
 
PDF
Gama Aviation full year results 2015
byGama Aviation Plc
 
PDF
Curtiss-Wright First Quarter 2016 Financial Results
byq4curtisswright
 
PDF
First Quarter 2016 Investor Presentation
byq4curtisswright
 
PDF
Gama Aviation H1 2015 results
byGama Aviation Plc
 
PDF
Institutional Presentation 1Q12
byCelpaRI
 
PDF
yrc worldwide3Q05_release
byfinance41
 
Apimec 2014 ing
byCteep
 
Gama Aviation Plc interim results H1 2016
byGama Aviation Plc
 
Gama Aviation full year results 2015
byGama Aviation Plc
 
Curtiss-Wright First Quarter 2016 Financial Results
byq4curtisswright
 
First Quarter 2016 Investor Presentation
byq4curtisswright
 
Gama Aviation H1 2015 results
byGama Aviation Plc
 
Institutional Presentation 1Q12
byCelpaRI
 
yrc worldwide3Q05_release
byfinance41
 

What's hot

PDF
Sabc Roadmap Strategic Roadmap
bySABC News
 
PDF
Ferrovial Integrated Annual Report 2015
byFerrovial
 
PPTX
Gama Aviation Plc. H1 2019
byGama Aviation Plc
 
PDF
Ferrovial Executive Summary Jan Dec 2015
byFerrovial
 
PDF
1Q13 Results Presentation
byAluparRI
 
PDF
Rpc halfyear pres_2013
byCompany Spotlight
 
PDF
Raymond James Conference 2015
byDelta_Airlines
 
PDF
Pacer may13pres
byCompany Spotlight
 
PDF
3Q12 Institutional Presentation
byCelpaRI
 
PDF
Q1 2009 Earning Report of Equinix Inc.
byearningreport earningreport
 
PPTX
Gama Aviation Plc. Interim results to 30th June 2018
byGama Aviation Plc
 
PDF
Severfield Full Results 2015
byCompany Spotlight
 
PDF
Gama Aviation Plc FY2018 results
byGama Aviation Plc
 
DOCX
Q2 2009 Earning Report of Anite Group plc
byearningreport earningreport
 
PDF
yrc worldwide2q_05
byfinance41
 
PPTX
Gama Aviation Plc final results 2016
byGama Aviation Plc
 
PDF
Gama Aviation Plc half year results 2017
byGama Aviation Plc
 
PDF
Ferrovial Executive Summary Jan Sep 2015
byFerrovial
 
Sabc Roadmap Strategic Roadmap
bySABC News
 
Ferrovial Integrated Annual Report 2015
byFerrovial
 
Gama Aviation Plc. H1 2019
byGama Aviation Plc
 
Ferrovial Executive Summary Jan Dec 2015
byFerrovial
 
1Q13 Results Presentation
byAluparRI
 
Rpc halfyear pres_2013
byCompany Spotlight
 
Raymond James Conference 2015
byDelta_Airlines
 
Pacer may13pres
byCompany Spotlight
 
3Q12 Institutional Presentation
byCelpaRI
 
Q1 2009 Earning Report of Equinix Inc.
byearningreport earningreport
 
Gama Aviation Plc. Interim results to 30th June 2018
byGama Aviation Plc
 
Severfield Full Results 2015
byCompany Spotlight
 
Gama Aviation Plc FY2018 results
byGama Aviation Plc
 
Q2 2009 Earning Report of Anite Group plc
byearningreport earningreport
 
yrc worldwide2q_05
byfinance41
 
Gama Aviation Plc final results 2016
byGama Aviation Plc
 
Gama Aviation Plc half year results 2017
byGama Aviation Plc
 
Ferrovial Executive Summary Jan Sep 2015
byFerrovial
 

Viewers also liked

PDF
Presentation 2Q12
byCteep
 
PDF
Cteep presentation 1_q14.
byCteep
 
PDF
Cteep release 3_q11
byCteep
 
PDF
2009 11-16 cteep-presentation_3_q09
byCteep
 
PDF
Apresentacao 4 t11_ingl
byCteep
 
PDF
2011 08-15 cteep-release_2_q11
byCteep
 
PDF
Cteep presentation 2_q09
byCteep
 
PDF
5 2 q09 results presentation
byCteep
 
PDF
Cteep presentation 1_q11
byCteep
 
PDF
1 presentation 1 q11
byCteep
 
PDF
Presentation 3Q12
byCteep
 
PDF
Cteep presentation 2_q11
byCteep
 
PDF
Presentation 1Q12
byCteep
 
PDF
Cteep apresentacao 2_q10_16august2010_english
byCteep
 
PDF
1q10
byCteep
 
PDF
6 transmissão paulista february 20 2008
byCteep
 
PPTX
Presentation 4Q12
byCteep
 
PDF
19 apimec
byCteep
 
Presentation 2Q12
byCteep
 
Cteep presentation 1_q14.
byCteep
 
Cteep release 3_q11
byCteep
 
2009 11-16 cteep-presentation_3_q09
byCteep
 
Apresentacao 4 t11_ingl
byCteep
 
2011 08-15 cteep-release_2_q11
byCteep
 
Cteep presentation 2_q09
byCteep
 
5 2 q09 results presentation
byCteep
 
Cteep presentation 1_q11
byCteep
 
1 presentation 1 q11
byCteep
 
Presentation 3Q12
byCteep
 
Cteep presentation 2_q11
byCteep
 
Presentation 1Q12
byCteep
 
Cteep apresentacao 2_q10_16august2010_english
byCteep
 
1q10
byCteep
 
6 transmissão paulista february 20 2008
byCteep
 
Presentation 4Q12
byCteep
 
19 apimec
byCteep
 

Similar to Apimec ing

PDF
Free to Run – TIM Capital Market Day 2024
byGruppo TIM
 
PDF
Idea annual report_2012-13
bymayank jain
 
PDF
Apimec 2015 ing
byCteep_ri
 
PDF
Terna 2018 2022 Strategic Plan Grid and Values
byTerna SpA
 
PDF
Global Telecom Industry Overview - 2023
byVishal Sharma
 
PDF
Future of Telecom in Australia
byVishal Sharma
 
PPTX
Apimec 2014 ing
byCteep_ri
 
PDF
Apresentacao aes eletropaulo_4_q12_eng
byAES Eletropaulo
 
PDF
CPFL Investor Day 2019
byCPFL RI
 
PPTX
Apimec 2014 - 3Q14
byCteep_ri
 
PDF
ACCIONA Spain Investors Day 2015
byacciona
 
PPTX
Nibc 2016 mba-m fin - true north investments - ppt
byJohn McGlynn
 
PDF
Tim part industrial plan 2014-16
byTIM RI
 
PPTX
Apresentação call 2 t 2012 (english)
byideiasnet
 
PDF
3 t10 aes eletropaulo
byAES Eletropaulo
 
PDF
4Q19 Institutional Presentation
byTIM RI
 
PDF
Webcast 3Q10
byTIM RI
 
PDF
Webcast 3 q10 eng
byTIM RI
 
PDF
CTEEP - 2nd Quarter 2009 Results Presentation
byCTEEP
 
PDF
Cteep presentation 2_q09
byCteep_ri
 
Free to Run – TIM Capital Market Day 2024
byGruppo TIM
 
Idea annual report_2012-13
bymayank jain
 
Apimec 2015 ing
byCteep_ri
 
Terna 2018 2022 Strategic Plan Grid and Values
byTerna SpA
 
Global Telecom Industry Overview - 2023
byVishal Sharma
 
Future of Telecom in Australia
byVishal Sharma
 
Apimec 2014 ing
byCteep_ri
 
Apresentacao aes eletropaulo_4_q12_eng
byAES Eletropaulo
 
CPFL Investor Day 2019
byCPFL RI
 
Apimec 2014 - 3Q14
byCteep_ri
 
ACCIONA Spain Investors Day 2015
byacciona
 
Nibc 2016 mba-m fin - true north investments - ppt
byJohn McGlynn
 
Tim part industrial plan 2014-16
byTIM RI
 
Apresentação call 2 t 2012 (english)
byideiasnet
 
3 t10 aes eletropaulo
byAES Eletropaulo
 
4Q19 Institutional Presentation
byTIM RI
 
Webcast 3Q10
byTIM RI
 
Webcast 3 q10 eng
byTIM RI
 
CTEEP - 2nd Quarter 2009 Results Presentation
byCTEEP
 
Cteep presentation 2_q09
byCteep_ri
 

More from Cteep

PDF
Apimec 2013 final
byCteep
 
PDF
Cteep presentation 3_q11
byCteep
 
PDF
Cteep apresentação 1_t14
byCteep
 
PDF
Presentation 3Q12
byCteep
 
PDF
Apresentacao 4 t11_port
byCteep
 
PPTX
Apresentação 3T12
byCteep
 
PPTX
Apresentação 2T12
byCteep
 
PDF
Presentation 4 q11
byCteep
 
PDF
Apresentação 4 t11
byCteep
 
PDF
Cteep apresentacao 1_q09_v_21maio2009_english_final
byCteep
 
PDF
Teleconferência 4 t12
byCteep
 
PDF
APIMEC 2012
byCteep
 
PDF
Cteep presentation 1 q12_may_14_2012
byCteep
 
PPTX
Teleconferência 4 t12
byCteep
 
PPTX
Apresentação 4T12
byCteep
 
PDF
Apresentação 3T12
byCteep
 
PDF
Cteep apresentacao 2_t11
byCteep
 
PDF
Apresentação 1T12
byCteep
 
PDF
Cteep apresentação 1 t12_14maio2012(1)
byCteep
 
PPTX
Composição acionária 3t14 en
byCteep
 
Apimec 2013 final
byCteep
 
Cteep presentation 3_q11
byCteep
 
Cteep apresentação 1_t14
byCteep
 
Presentation 3Q12
byCteep
 
Apresentacao 4 t11_port
byCteep
 
Apresentação 3T12
byCteep
 
Apresentação 2T12
byCteep
 
Presentation 4 q11
byCteep
 
Apresentação 4 t11
byCteep
 
Cteep apresentacao 1_q09_v_21maio2009_english_final
byCteep
 
Teleconferência 4 t12
byCteep
 
APIMEC 2012
byCteep
 
Cteep presentation 1 q12_may_14_2012
byCteep
 
Teleconferência 4 t12
byCteep
 
Apresentação 4T12
byCteep
 
Apresentação 3T12
byCteep
 
Cteep apresentacao 2_t11
byCteep
 
Apresentação 1T12
byCteep
 
Cteep apresentação 1 t12_14maio2012(1)
byCteep
 
Composição acionária 3t14 en
byCteep
 

Recently uploaded

PDF
Canadian Business at the Climate Crossroads in 2026
bySarah Mindeirro
 
PDF
Equinox Gold - November Presentation.pdf
byEquinox Gold Corp.
 
DOCX
Best 10 Places to Buy Verified Sofi Bank Accounts Online ....docx
by2roxdzs2xm
 
PDF
Open Your Capital One Bank Account_ A Smarter Way to ....pdf
bysl9erqxqn
 
PDF
Your Guide to Purchasing Verified OnlyFans Accounts ....pdf
bysl9erqxqn
 
PDF
Why Verified Chime Accounts just worder calttion sit .pdf
bysl9erqxqn
 
PDF
What Are the Advantages of Using Verified Western Union ... (1).pdf
bydoritalozanoqnkg9
 
PDF
Top Trusted Sites to Buy Verified Onlyfans Accounts in 2025.pdf
bydoritalozanoqnkg9
 
DOCX
How to Buy, Verified Remitly Account.docx
bymarketing & business
 
PDF
Buy Verified Apple Pay Accounts in 2025.pdf
bycgvcr34cbd
 
DOCX
Why You Should Consider Purchasing Gmail Accounts Today.docx
by954rakib
 
PDF
AQUATHEA – Innovative Water & Energy Technologies for a Sustainable Future
byflegras
 
PDF
What Keeps Houston's Economy Going - 2025
byBoyarMiller
 
PPTX
Building Real-World Integrations with the Trisotech Digital Enterprise Suite
byDenis Gagné
 
PDF
India’s Most Impactful Personalities to Follow in 2025 (2).pdf
bybusinessworldeurekad
 
PDF
+256753922268 REAL QUICKEST DEATH SPELLs
bydavinah944
 
PDF
HOW to Buy Verified Coinbase Accounts Secure, Fast &amp
bytopusapvait
 
PDF
Introduction to Contracts for Procurement - Sale and Purchase
byAvik Munshi
 
PDF
Akintoye Ojeshina - A Viral Creator And Reality Content Pioneer
byAkintoye Ojeshina
 
PDF
ACEN Nov. 2025 General Meeting. The video is online at the ACEN Substack page
byMark Rauterkus
 
Canadian Business at the Climate Crossroads in 2026
bySarah Mindeirro
 
Equinox Gold - November Presentation.pdf
byEquinox Gold Corp.
 
Best 10 Places to Buy Verified Sofi Bank Accounts Online ....docx
by2roxdzs2xm
 
Open Your Capital One Bank Account_ A Smarter Way to ....pdf
bysl9erqxqn
 
Your Guide to Purchasing Verified OnlyFans Accounts ....pdf
bysl9erqxqn
 
Why Verified Chime Accounts just worder calttion sit .pdf
bysl9erqxqn
 
What Are the Advantages of Using Verified Western Union ... (1).pdf
bydoritalozanoqnkg9
 
Top Trusted Sites to Buy Verified Onlyfans Accounts in 2025.pdf
bydoritalozanoqnkg9
 
How to Buy, Verified Remitly Account.docx
bymarketing & business
 
Buy Verified Apple Pay Accounts in 2025.pdf
bycgvcr34cbd
 
Why You Should Consider Purchasing Gmail Accounts Today.docx
by954rakib
 
AQUATHEA – Innovative Water & Energy Technologies for a Sustainable Future
byflegras
 
What Keeps Houston's Economy Going - 2025
byBoyarMiller
 
Building Real-World Integrations with the Trisotech Digital Enterprise Suite
byDenis Gagné
 
India’s Most Impactful Personalities to Follow in 2025 (2).pdf
bybusinessworldeurekad
 
+256753922268 REAL QUICKEST DEATH SPELLs
bydavinah944
 
HOW to Buy Verified Coinbase Accounts Secure, Fast &amp
bytopusapvait
 
Introduction to Contracts for Procurement - Sale and Purchase
byAvik Munshi
 
Akintoye Ojeshina - A Viral Creator And Reality Content Pioneer
byAkintoye Ojeshina
 
ACEN Nov. 2025 General Meeting. The video is online at the ACEN Substack page
byMark Rauterkus
 

Apimec ing

  • 1.
    1 APIMEC 2013 and Presentationof Results for 2Q13 São Paulo - August 15th, 2013
  • 2.
  • 3.
    3 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 4.
    4 ISA - Profile Morethan 48 years of experience in the energy transmission sector Assets in energy transmission, telecommunications and highways Footprint in Brazil, Chile, Argentina, Colombia, Peru, Bolivia and Central America USD 890 milllion in operating revenue in the first quarter of 2013 Long-term financial investor with focus on optimizing of capital structure CTEEP is a component of one of the largest energy transmission groups in Latin America Consolidated EBITDA by businessConsolidated EBITDA by country 39% 27% 21% 11% Colombia Chile Brazil Peru 67% 27% 4% 2% Transporte de energia Concessões Viárias Telecomunicação Gestão de Sistema em tempo Real Electric Energy Transport Road Concessions Telecommunications Transport Smart Management of Real Time System
  • 5.
    5 MEGA Achievements Targets for2016 Goals reached by 2012 Revenue of USD 3.5 billion USD 2.434 billion (70%) 80% of revenue generated outside Colombia USD 1.664 million (68%) 20% of revenue from different Energy Transmission sectors USD 538 million (22%) Presence in 50% of energy interconnections International interconnections Business diversification Entry into the Highway Concessions business Largest data transmitter in the Andean Region Continental leadership in connectivity infrastructure Development of future energy markets Energy derivatives negotiation system
  • 6.
    6 Up to thecurrent time ISA’s growth exceeded targets <Progress at MEGA Revenue in US$ MM 2,410 1,931 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 2006 2007 2008 2009 2010 2011 CAGR1 +20% +25% MEGA upward path defined in 2006 ISA Revenue CAGR- Compound Annual Growth Rate SOURCE: 2011 Consolidated Results Statement and Consolidated Financial Plan updated in August 2012
  • 7.
    7 ISA’s growth exceededother benchmark companies in electric energy transmission 28 20 13 12 11 9 9 5 sOURCE: Financial information from ISA for August 2012; CPAT; Working team’s analysis Average annual growth in revenue %, CAGR1 2006-11 14% average 1 CAGR- Compound Annual Growth Rate ) 2 CAGR 2007-2011 3 CAGR 2010-2011
  • 8.
    8 Results 2006 -2012 1 Year 2006 Year2012 Geographical expansion, diversification 16,836 km to 40,626 km of circuits (142%). 4,267 km to 22,730 km of optic fiber cable (433%). 6 to 30 companies. Entry into the Highway Concessions business. Transformation of Markets’ Operation and Management business. Financial and economic management, growth 100% in assets. 113% in operating revenue. 161% in EBITDA. 81% in profits. 70% share appreciation (closing 2005). About US$ 500 million in dividends.
  • 9.
    9 Corporate Strategy -Consolidation START GROWTH MATURITY … recognize and consolidate the capacity both in scale and jointly for preparing the foundations for the next phase of the growth cycle.
  • 10.
    10 Corporate Strategy -Guidelines Group returns as the principal strategic aspiration Mix of businesses and geographies: on the basis of synergy of existing assets and capacities, principally in Colombia, Brazil, Peru and Chile. Growth: will depend on the opportunities for achieving the desired level of return (higher). ISA’s vocation: creation of value through “excellence” in operation and development of the infrastructure. Capture of growth opportunities with higher returns 1 Improvement in returns from current businesses and “core” business 2 Dynamic adjustment of businesses and geographies portfolio 3
  • 11.
    11 ISA is alignedaround 3 strategic axes Capture of growth opportunities with higher returns for ISA ▪ Focus on profitable opportunities in Energy Transmission (ET) –Focus on growth opportunities in higher return ET segments –Selective participation in new tender bids (according to the degree of synergies with current assets, expansion in sub- transmission assets) –Opening up of new markets with opportunities for creating value through restructuring ▪ Development of highway concessions, principally in Colombia ▪ Capture of highly synergetic opportunities in other businesses such as: –Telecoms1 –Real Time Systems Intelligent Management Dynamic adjustment of business and geographies portfolio Maintain active a constant reflection on opportunities for adjusting the portfolio based on criteria of: –Potential for value creation at ISA in relation to the value for a third party –Access to profitable growth opportunities –Return in relation to other options 1 Improvement in returns from current Group businesses and "core" business ▪ Improvement in Group O&M through identification and extension of best practice in a transversal manner ▪ Leveraging of the Group scale in supplies of equipment, materials and projects ▪ Ensure cost and delivery and optimization of CapEx 2 3
  • 12.
    12 ISA’s Vision ISA willhave a higher return than the cost of equity and long-term stability. In the Energy Transmission business, ISA will maintain its position of operator with the largest footprint in Latin America, consolidating its position in the region and reaching high levels of operating efficiency aligned to best global practices. In the Highway Concessions business, ISA will capture opportunities in the region with a focus on Colombia. In the Telecoms Carrier Network business, ISA will consolidate its leadership as na independent carrier in Latin America, developing an IP (internet protocol) ecosystem in the region. ISA will expand its Real Time Systems Intelligent Management with new services, accessing new highly profitable opportunities in other sectors. ISA 2020 By 2020, ISA will have multiplied its profits 3 times through the capture of the most profitable growth opportunities in the existing businesses in Latin America, increase in efficiency and portfolio optimization.
  • 13.
    13 Strategic Directions Cycle ISA’s Strategic Update ISA’s Strategic Update Newscenário for the sector New scenário for the sector Company Profile Post- Concession Rollover Company Profile Post- Concession Rollover A atualização estratégica da ISA embasa o ciclo de Direcionamento Estratégico da CTEEP
  • 14.
    14 Strategic Guidance Cycle2013 ISA’s Strategic Update ISA’s Strategic Update New scenario for the sector New scenario for the sector Company Profile Post Concession Rollover Company Profile Post Concession Rollover New scenario for the sector New scenario for the sector Company Profile Post Concession Rollover
  • 15.
    15 Regulatory challenges Indemnification forthe existing system (ES) Indemnification for the improvements Remuneration of future improvements Capital Structure Adjustment to the new operating reality Reduction in debt to the new optimum financial leverage Preference for long-term financial resources Operating Efficiency and Growth Optimization of costs Efficiency in the investments in capacity upgrades and improvements Selectivity in participating in auctions and acquisitions Challenges
  • 16.
    16 Strategic Focus Atualização daEstratégia CTEEP’s strategy implies efforts in the direction of PRODUCTIVITY AND EFFCIENCY, Responding to the requirements of an increasingly demanding and dynamic market, with outstanding RETURNS. For the 2013/2014 cycle, CTEEP has itemized some strategic initIatives: Smart Grid Optimization of Costs Capital Structure and Debt Endividamento Regulatory Management Updating of Strategy
  • 17.
    17 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 18.
    18 Operating performance The indicatorfor first half results remained at 99.97% for Transformers and 99.99% for Transmission Lines, showing an excellent Operating Performance. ENES – Energy Not Supplied Uptime Indicator 1285.16 1208.42 1057.37 173.78 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  • 19.
    19 Parcel A CostVariation Account Source: ONS 0.66% 1.26% 0.20% 0.44% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% 1.10% 1.20% 1.30% 1.40% 1.50% JUL AGO SET OUT NOV DEZ JAN FEV MAR ABR MAI JUN Transmissoras Ciclo 11/12 Transmissoras Ciclo 12/13 CTEEP Ciclo 11/12 CTEEP Ciclo 12/13 1.26% 0.66% 0.44% 0.20% Transmitters 11/12 Cycle Transmitters 12/13 Cycle CTEEP Cycle 11/12 CTEEP Cycle 12/13 AUG SEP OCT NOV DEC JAN FEV MAR APR MAY JUNJUL
  • 20.
    20 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 21.
    21 Results - Consolidated Consolidated (*)ex Depreciation (**)ex Amortization of goodwill Gross Operating Revenue 235.2 563.4 (58.2%) 469.3 1,111.6 (57.8%) Deductions from Operating Revenue (29.9) (81.6) (63.3%) (63.1) (136.1) (53.6%) Net operating revenue 205.3 481.9 (57.4%) 406.2 975.4 (58.4%) General and Administrative Expenses* (185.7) (172.8) 7.4% (364.8) (348.5) 4.7% Other Operating (Expenses)/Income** 2.3 (3.6) 164.2% 16.8 (3.0) 660.6% Equity 23.7 14.5 63.7% 44.5 26.0 71.1% EBITDA 45.7 319.9 (85.7%) 102.7 649.9 (84.2%) % Margem EBITDA 22.3% 66.4% -66.5% 25.3% 66.6% -62.1% Depreciation (9.3) (8.2) 12.9% (18.6) (16.7) 11.3% EBIT 36.4 311.7 (88.3%) 84.1 633.2 (86.7%) Financial Results 11.9 (52.2) 122.8% 50.9 (108.1) 147.1% Operating Income 48.3 259.5 (81.4%) 135.0 525.1 (74.3%) IR & CSLL (0.9) (58.4) (98.4%) (16.6) (118.9) (86.0%) Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) Results (R$ million) ∆%2Q13 2Q12 ∆% 1S13 1S12
  • 22.
    22 Results - Company (*)ex Depreciation (**)ex Amortization of goodwill Gross Operating Revenue 206.3 532.7 (61.3%) 402.2 1,047.1 (61.6%) Deductions from Operating Revenue (27.4) (78.7) (65.2%) (56.9) (150.5) (62.2%) Net operating revenue 179.0 454.0 (60.6%) 345.3 896.6 (61.5%) General and Administrative Expenses* (170.8) (153.3) 11.4% (324.1) (307.0) 5.6% Other Operating (Expenses)/Income** 2.3 (6.1) (137.8%) 16.8 (5.5) (405.5%) Equity 29.5 18.9 56.5% 53.6 52.3 0.0% EBITDA 40.0 313.4 (87.2%) 91.6 636.4 (85.6%) % Margem EBITDA 22.4% 69.0% -67.6% 26.5% 71.0% -62.6% Depreciation (9.3) (8.2) 12.9% (18.6) (16.7) 11.3% EBIT 30.8 305.2 (89.9%) 73.0 619.7 (88.2%) Financial Results 16.4 (46.5) (135.3%) 60.0 (97.8) (161.4%) Operating Income 47.2 258.7 (81.8%) 133.0 521.9 (74.5%) IR & CSLL 0.2 (57.6) (100.4%) (14.6) (115.6) (87.3%) Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) 1S12 ∆% Results (R$ million) 2Q13 2Q12 Δ% 1S13
  • 23.
    23 Gross Revenue 2Q13 2Q12Change 1S13 1S12 Change 2Q13 2Q12 Change 1S13 1S12 Change Construction 30.5 41.1 -25.8% 55.1 79.5 -30.7% 39.3 59.8 -34.2% 85.8 121.1 -29.1% Operation and Maintenance 149.1 162.7 -8.3% 288.2 319.3 -9.8% 155.2 166.6 -6.8% 298.9 324.1 -7.8% Financial 21.5 324.3 -93.4% 48.5 638.5 -92.4% 35.7 332.5 -89.3% 74.5 656.5 -88.7% Others 5.3 4.6 15.3% 10.5 9.9 6.8% 5.0 4.6 9.5% 10.0 9.9 1.8% Total 206.3 532.7 (61.3%) 402.2 1,047.1 (61.6%) 235.2 563.4 (58.2%) 469.3 1,111.6 (57.8%) Gross Revenue (R$ '000) Company Consolidated
  • 24.
    24 Costs and Expenses (*)ex depreciation 2Q13 2Q12 ∆% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Personnel (59.5) (57.8) 3.0% (128.6) (116.7) 10.2% (61.2) (59.8) 2.5% (132.2) (119.9) 10.3% Material (21.4) (21.1) 1.6% (41.4) (46.6) -11.1% (32.3) (43.3) -25.4% (74.0) (81.9) -9.7% Services (48.6) (57.2) -15.1% (91.6) (102.9) -10.9% (50.4) (53.3) -5.3% (95.5) (105.2) -9.3% Others (16.8) (12.9) 30.4% (30.5) (30.8) -1.0% (17.2) (12.1) 41.6% (31.2) (31.4) -0.7% Contingencies (24.6) (4.4) 454.0% (31.9) (10.0) 219.2% (24.6) (4.4) 454.0% (31.9) (10.0) 219.2% Total (170.8) (153.3) 11.4% (324.1) (307.0) 5.6% (185.7) (172.8) 7.4% (364.8) (348.5) 4.7% Cost and Expenses* (R$ million) Company Consolidated
  • 25.
    25 Ebitda and EbitdaMargin 2Q13 2Q12 Δ% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Net Income 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) 47.4 201.2 (76.4%) 118.4 406.3 (70.9%) Income tax and social contribuition (0.2) 57.6 (100.4%) 14.6 115.6 (87.3%) 0.9 58.4 (98.4%) 16.6 118.9 (86.0%) Financial Results (16.4) 46.5 (135.3%) (60.0) 97.8 (161.4%) (11.9) 52.2 (122.8%) (50.9) 108.1 (147.1%) Leases and rentals/Amortization 9.3 8.2 12.9% 18.6 16.7 11.3% 9.3 8.2 12.9% 18.6 16.7 11.3% EBITDA 40.0 313.4 (87.2%) 91.6 636.4 (85.6%) 45.7 319.9 (85.7%) 102.7 649.9 (84.2%) EBITDA Margin 22.4% 69.0% (46.7) 26.5% 71.0% (44.4) 22.3% 66.4% (44.1) 25.3% 66.6% (41.4) EBITDA - ICVM 527 (R$ million) ConsolidatedCompany
  • 26.
    26 Financial Result (*) Includescharges, income and foreign exchange hedges on CCB International and Commercial Paper 2Q13 2Q12 ∆% 1S13 1S12 ∆% 2Q13 2Q12 ∆% 1S13 1S12 ∆% Interest Receivable 38.0 3.1 1140.8% 83.8 8.2 923.9% 38.4 3.3 1066.9% 84.5 8.9 851.9% Monetary (net) 16.7 (1.4) 1310.3% 47.3 (3.1) 1644.8% 16.7 (1.4) 1310.3% 47.3 (3.1) 1644.8% Financial Expenses* (38.3) (48.1) 57.1% (71.1) (102.9) (20.4%) (43.2) (54.1) 53.1% (80.8) (113.9) (23.0%) Total 16.4 (46.5) 135.3% 60.0 (97.8) 161.4% 11.9 (52.2) 122.8% 50.9 (108.1) 147.1% Financial Result (R$ million) Company Consolidated
  • 27.
    27 201.2 47.4 406.3 118.4 2Q12 2Q13 1S121S13 Net Income (R$ million)
  • 28.
    28 Debt 29.4% 60.2% 10.1% 0.2% Distribuition of debt contracting BNDESComercial Papers Debêntures Banks Others 29.4% 56.5% 3.7% 10.3% Interest Rate TJLP CDI IPCA Others FUNDING CHARGES MATURITY 2Q13 2012 BNDES TJLP + 2,3% year 15/06/15 187,884 234,681 TJLP + 1,8% year 15/06/15 112,627 140,798 Comercial Papers 6th Series - CTEEP 104,9% CDI yera 05/01/13 0 433,873 Debêntures 1st Issuance - CTEEP CDI + 1,3% year 15/12/14 326,282 325,959 2nd Issuance - CTEEP IPCA + 8,1% year 15/12/17 70,747 70,915 Single Series - CTEEP 105,5% do CDI year 02/07/14 752,858 726,476 Banks USD + 4% year 26/04/13 0 132,309 USD + 2,1% year 21/10/13 192,809 177,318 Eletrobras 8% year 15/11/21 315 340 Leasing - - 4,207 5,048 TOTAL CTEEP: 1,647,729 2,247,717 BNDES IEMG TJLP + 2,4% year 15/04/23 49,953 52,513 TJLP + 2,6% year 15/05/26 45,912 47,758 5,5% year 15/01/21 76,274 80,152 TJLP + 1,9% year 15/05/26 47,933 49,801 TJLP + 1,5% year 15/05/26 41,412 43,038 TOTAL SUBSIDIARIES 261,484 273,262 Total Consolidated (R$ mil) 1,909,213 2,520,979 SERRA DO JAPI CTEEP CTEEP PINHEIROS
  • 29.
    29 Breakdown of NetDebt (*) As from January 2013, the Company’s financial investments have been concentrated in exclusive investment funds. These are made up of highly liquid investment fund units, readily convertible into cash, irrespective of the maturity of the assets. Debt 1,909.2 2,521.0 Short-term Debt 549.6 28.8% 1103.2 43.8% Long-term Debt 1,359.6 71.2% 1,417.8 56.2% Cash* 1233.6 309.6 Net Debt 675.6 2,211.4 EBITDA 12 months 823.2 1,370.5 Net Debt/Ebitda (Last 12 months) 0.8 1.6 Debt (BRLm) Consolidated 20122Q13
  • 30.
    30 Debt Repayment (R$ millions) FutureCash (NI) 2013 2014 2015 Total Accounts Receivable (NI) - (projection) 286.0 572.1 333.7 1,191.8 Interest Income on the Accounts Receivable (projection) 55.5 69.3 12.0 136.8 Total 341.6 641.4 345.7 1,328.7 Position of the Fund on 06/30/13: R$ 1.221.8 454.7 1,097.6 124.1 48.1 48.1 136.7 2013 2014 2015 2016 2017 After 2017 CTEEP Subsidiaries
  • 31.
    31 Debt Joint Ventures IEMADEIRA ITAÚ BBA IPCA + 5,5% a.a. 3/18/2025 183.1 IE MADEIRA BNDES TJLP + 2,42% a.a. 2/15/2030 736.9 IE MADEIRA BNDES 2,5% a.a 10/15/2022 119.6 IE MADEIRA BASA 8,50% a.a.* 10/10/2032 140.5 Total IE Madeira (51% CTEEP) 1,180.1 IENNE BB CDI + 1,35% a.a 7/18/2013 4.4 IENNE BNB 8,50% a.a.* 5/19/2030 53.8 Total IENNE (25% CTEEP) 58.2 IEGARANHUNS HSBC 106,50% CDI 4/30/2014 96.6 Total IE GARANHUNS (51% CTEEP) 96.6 IE SUL BNDES 5,50% a.a. 1/15/2021 4.3 IE SUL BNDES TJLP + 2,58% a.a. 5/15/2025 4.4 8.7 1,343.5 Value (R$ MM) Total IE SUL (50% CTEEP) TOTAL (R$ milhões) Subsidiarie Bank Charges Maturity
  • 32.
    32 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 33.
    33 Capital Market Total Trade:126,096 Daily Average/Day: 985 Market value 06/30/13 R$6,2 billion70.00 100.00 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 TRPL3 TRPL4 IBOVESPA IEE -11.76% -22.14% 1.55% 12.25% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Trade Financial - 06/30/2013 (R$ million) Total R$ 936 Million Daily Average / Day R$ 7.3 million
  • 34.
    34 On July 18,2013, CTEEP engaged Credit Suisse to be the Market Maker for TRPL4 to enhance the liquidity of its preferred shares, thereby increasing the number of transactions and trading volume. In addition to offering greater secondary market liquidity, this initiative (which complies with the regulations established in CVM Instruction 384/2003) seeks to ensure that TRPL4 remains a component of BM&FBOVESPA’s IBrX-100 and Ibovespa stock indices (sharply impacted since the publication of MP-579/2012) Market Maker First results: Principal Characteristics Maximum spread 1.50% Minimum lot available 2.000 shares
  • 35.
    35 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 36.
    36 Tariff Readjustment Ratifying Resolution1.595 of June 27, 2013 Cycle: July 1, 2013 to June 30, 2014. Indices used for readjustment: IPCA/ IBGE Jun/12 to May/13 = 6.50% (NI authorized after June/2012) Out/12 to May/13 = 4.93% (O&M in the agreement addendum) Dec/12 to May/13 = 3.69% (AI – Adjustment Installment) after December/2012) IGP-M / FGV Jun/12 to May/13 = 6.22% (NI prior to June/2012) Jun/12 to Nov/12 = 4.46% (AI prior to December/2012) Analysis of RAP Cycle 2013-2014
  • 37.
    37 RAP (whithout PIS/COFINS) (R$‘000) Subsidiaries % CTEEP RAP PA TOTAL RAP PA TOTAL CTEEP* - 540,760.0 (35,142.4) 505,617.6 590,949.0 (39,828.0) 551,121.0 9.0% IEMG 100% 14,161.0 (594.0) 13,567.0 15,082.0 (446.0) 14,636.0 7.9% IE Pinheiros 100% 33,491.0 1,697.0 35,188.0 36,305.0 (999.0) 35,306.0 0.3% Serra do Japi 100% 26,457.0 (1,355.0) 25,102.0 28,178.0 1,162.0 29,340.0 16.9% IENNE 25% 38,253.0 3,640.0 41,893.0 34,852.5 (1,198.3) 33,654.2 -19.7% IESUL 50% 13,075.0 (645.0) 12,430.0 13,925.1 (2,700.4) 11,224.7 -9.7% IE Madeira 51% 407,482.0 0.0 407,482.0 433,985.1 0.0 433,985.1 6.5% IE Garanhuns 51% 71,848.0 0.0 71,848.0 76,521.0 0.0 76,521.0 6.5% Evrecy 100% 10,735.0 (891.0) 9,844.0 9,957.0 (1,136.0) 8,821.0 -10.4% 1,156,262.0 (33,290.4) 1,122,971.6 1,239,754.7 (45,145.8) 1,194,608.9 6.4% REH. nº 1.313 - Cycle 2012/2013 REH. nº 1.595 - Cycle 2013/2014 Change% RAP + PA Total (*) CTEEP’s 2012/2013 cycle corresponds to REH 1.395 of December 11, 2012
  • 38.
    38 Agenda CTEEP - OperatingPerformance Financial Results 2Q13 and 1H13 ISA and CTEEP – Strategic Review Annual Tariff Readjustment – 2013/2014 Cycle Capital Markets Performance IFRS X Regulatory
  • 39.
    39 IFRS X Regulatory- Company (R$ million) IFRS Regulatory (not audited) 1S13 1S13 Net operating revenue 402.2 340.4 61.8 Receita de uso da rede elétrica 329.9 (329.9) Revenue from Construction Services 55.1 0 55.1 Revenue from Operational and Maintenance Services 288.2 0 288.2 Financial Revenue 48.5 0 48.5 Other Revenue 10.5 10.5 0.0 Deductions from Operating Revenue (56.9) (51.2) (5.7) Net Operating Revenue 345.3 289.2 56.1 Costs and Operating Expenses (324.1) (244.0) (80.1) Personnel (122.9) (122.9) 0.0 MSO (90.1) (89.2) (0.9) Contingencies (31.9) (31.9) 0.0 Construction costs (50.0) 0 (50.0) Improvements (29.2) 0 (29.2) Depreciation/Amortization (3.6) (6.6) 2.9 Financial Result 60.0 60.0 0.0 Equity 53.6 6.9 46.6 Amortization of goodwill (14.9) (14.9) 0.0 Other Operating (expenses/income) 16.8 15.8 1.0 Operating Income 133.1 106.4 26.6 IR & CSLL (14.6) (21.5) 6.8 Net Income 118.4 85.0 33.4 Results Adjustments/ Reclassification
  • 40.
    40 IFRS X Regulatory- Consolidated (R$ million) IFRS Regulatory (not audited) 1S13 1S13 Net operating revenue 469.2 381.1 88.1 Receita de uso da rede elétrica 371.1 (371.1) Revenue from Construction Services 85.8 0 85.8 Revenue from Operational and Maintenance Services 298.9 0 298.9 Financial Revenue 74.5 0 74.5 Other Revenue 10.0 10.0 (0.0) Deductions from Operating Revenue (63.1) (55.1) (8.0) Net Operating Revenue 406.1 326.0 80.1 Costs and Operating Expenses (364.6) (252.5) (112.1) Personnel (126.6) (126.6) 0.0 MSO (98.0) (94.0) (4.0) Contingencies (31.9) (31.9) 0.0 Construction costs (78.1) 0 (78.1) Improvements (30.0) 0 (30.0) Depreciation/Amortization (3.6) (17.2) 13.6 Financial Result 50.9 50.9 (0.0) Equity 44.5 (0.3) 44.8 Amortization of goodwill (14.9) (14.9) 0.0 Other Operating (expenses/income) 16.7 15.8 0.9 Operating Income 135.0 107.8 27.2 IR & CSLL (16.6) (22.9) 6.3 Net Income 118.4 85.0 33.5 Results Adjustments/ Reclassification
  • 41.
    41 Disclaimer All statements containedherein with regard to the Company’s business prospects, projected results and the potential growth of its business aremere forecasts, based on local management expectationsin relation to the Company’s future performance. Dependent as they are on market shifts and on the overall performance of the Brazilian economy and the sector and international markets, such estimates are subject to changes.
  • 42.
    42 Investor Relations Tel: +5511 3138-7557 [email protected] www.cteep.com.br/ri Ethics Line Channel www.canalconfidencial.com.br/linhaeticacteep or by calling 0800 777 0775