AES Brasil Group is a major electricity distribution and generation company in Brazil with 7 million clients. In 2008, AES Brasil had R$3.2 billion in Ebitda and R$1.7 billion in net income. It has significant market share in electricity distribution and ownership of generation and transmission companies. AES Brasil is majority owned by AES Corporation with other shareholders including BNDES and free float.
Corporate Presentation CPFL Energia - Janeiro 2016CPFL RI
This document provides an overview of CPFL Energia, the largest integrated private electricity company in Brazil. Some key points:
- CPFL Energia has a market capitalization of R$15 billion and operates in distribution, generation, trading, and services.
- In distribution, CPFL has 8 subsidiaries serving 7.7 million customers. In generation, CPFL has 3,129MW of installed capacity, 94% from renewable sources, making it the largest renewable energy portfolio in Brazil.
- Financially, CPFL reported R$4 billion in EBITDA and R$1.2 billion in net income for the last 12 months ending 3Q15. Key growth areas include renewable energy
- AES Eletropaulo reported a 14% reduction in non-technical losses and a 5% reduction in SAIDI and SAIFI indicators in 3Q13 compared to the previous year. Investments totaled R$193 million focused on operational reliability and customer service.
- Revenue decreased 16.9% to R$3.12 billion due to a government mandated electricity cost reduction program, but was offset by a 2.7% growth in total consumption. Cost reduction programs led to a R$44 million decrease in expenses.
- EBITDA increased to R$142 million and net income was R$27 million, supported by cost reductions and market growth. Cash generation was positively impacted by improved
Corporate presentation cpfl energia agosto 2016CPFL RI
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market capitalization of R$23.2 billion. It has operations in distribution, generation, trading, and services.
2) In late 2016, State Grid of China proposed to acquire a 23% stake in CPFL Energia for R$25 per share, valuing the company at R$23.2 billion. The transaction is pending regulatory approval.
3) CPFL Energia's distribution segment serves over 7.8 million customers across 8 subsidiaries, covering 561 municipalities with a market share of 12.2%. The acquisition of AES Sul would expand its distribution footprint significantly.
November 2016-digital-realty-company-overview-(1)ir_digitalrealty
- Global IP traffic, mobile data traffic, global IP video traffic, and global data center traffic have all increased substantially from 2014 to 2019. Mobile data traffic is projected to increase significantly from 2014 to 2020.
- AT&T and Digital Realty have partnered to provide colocation services through Digital Realty data centers, combining their respective expertise in networking and data center operations.
This document summarizes the presentation given by Wilson Ferreira Jr., CEO of Eletrobras, to the 5th Utilities Day hosted by Itau BBA. The presentation covered Eletrobras' 2014 results, the regulatory scenario in Brazil, and the hydrological scenario outlook for 2015. Some key points included a 6% increase in EBITDA in 2014, recent changes to Brazil's extraordinary tariff review and tariff flag system, the entry into operation of new generation projects, and scenarios for reservoir levels and energy supply in 2015 given lower-than-average rainfall in early 2015. The document concludes with a proposed capital increase and stock bonus distribution to shareholders.
The document provides an analyst presentation on the financial results of Hera Group for 2014. Key highlights include:
- Revenues decreased 4.5% to €4.51 billion due to lower gas sales from mild winter weather, while EBITDA grew 7.1% to €868 million driven by market expansion, efficiency gains, and lower trading activities.
- Net profit increased 27.3% to €163.6 million through business growth, financial management, and lower taxes. Cash generation was positive after dividends despite acquisitions.
- The presentation reviews financial results and growth drivers for each business division including networks, waste, energy, and provides an outlook on further sector consolidation in Italy.
This document provides a summary of CPFL Energia's business for 3Q15. It discusses CPFL Energia's history of expansion since privatization in 1998 through acquisitions and greenfield projects. It outlines CPFL Energia's key business segments including distribution, generation, trading, and services. For each segment, it provides financial highlights for the period of 2010-3Q15 including net revenues, EBITDA, and net income. It also summarizes CPFL Energia's ambitions for future growth across its business segments.
The document provides an overview of the company's 2Q and 1H 2020 financial results. Key highlights include:
- Net loss of S$697M in 2Q 2020 compared to net profit of S$153M in 2Q 2019, largely due to impairments of S$919M. Excluding impairments, net profit was S$222M.
- Net loss of S$537M for 1H 2020 compared to net profit of S$356M in 1H 2019, after total impairments of S$930M for the period.
- Revenue declined 26% in 2Q 2020 and 4% for 1H 2020 year-on-year.
- The Offshore & Marine segment recorded
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1. AES Tietê is a leading private hydroelectric power generation company in Brazil with over 2,600 MW of installed capacity. It has a long-term power purchase agreement with AES Eletropaulo, Brazil's largest utility.
2. AES Eletropaulo is Brazil's largest utility, serving over 17 million customers in the metropolitan region of São Paulo. It has investment grade credit ratings and is focused on improving operational performance through investments in grid modernization and loss reduction
- EBITDA increased 9.8% to R$489 million compared to 3Q09 due to a 4% rise in total energy consumption and lower expenses. Net income grew 22.7% to R$289 million.
- Investments totaled R$82 million, focusing on expanding the distribution system and improving customer service.
- Revenues benefited from a July 2010 tariff adjustment and market growth. Operating costs were stable despite higher personnel and tax expenses.
- The company continues efforts to improve operational metrics like collection rates, commercial and technical losses. Financial results were positively impacted by non-recurring items.
Most ambitious SBTi targets Q12021 Financial results
- Hera achieved the most ambitious Science Based Targets initiative (SBTi) emissions reduction targets among Italian multi-utilities, committing to reduce Scope 1, 2 and 3 emissions by 36.7% by 2030.
- Hera's Q1 2021 financial results showed growth compared to Q1 2020, with a 3.7% increase in EBITDA to €362 million and a 6.3% rise in net profit to €132 million.
- Cash flow generation remained strong in Q1 2021, allowing for further business expansion.
Hera Group reported strong Q1 2011 results that outperformed previous records. EBITDA grew 21% compared to Q1 2010, driven by outstanding performance in energy activities from commercial development and procurement. M&A also contributed to growth. Positive results across all business areas led to higher profits and cash flows that reduced net debt and strengthened financial ratios.
The document summarizes the interim results of Hera Group for the first 9 months of 2010. Key points include:
- Net profit increased 62.6% to 79.1 million euros, driven by organic growth across all business lines.
- EBITDA grew 10.6% to 431.4 million euros, with positive contributions from gas, electricity, water, and waste businesses.
- Capex was reduced by 40 million euros. Free cash flow was positive in Q3 and for the first 9 months.
- Results were in line with business plan and show strong profit growth, even on an adjusted basis which excludes one-time items.
Apresentação sem discurso 2 t10 aes eletropaulo final_engAES Eletropaulo
- Cash generation was R$584 million in 2Q10, 37.1% higher than 2Q09, with EBITDA of R$732 million, up 114.2% and net income of R$466 million, up 200.6%
- Higher energy sales volumes and lower commercial losses contributed to increased revenues and profits
- One-off effects from asset sales and legal settlements boosted 2Q10 results above comparable levels excluding these items
Analyst presentation: business plan to 2019Hera Group
This document provides a business plan and strategy for Hera Business from 2019. It outlines goals of continued growth through consolidation, operational excellence, and leveraging innovation. The plan expects growth of 118 million euros from internal factors like efficiencies and organizational growth, and 126 million euros from external factors like mergers and acquisitions. It analyzes the company's strengths and potential for external growth opportunities in its key business areas of networks, waste, and energy. Financial projections show expected growth in earnings, returns, and cash flows while maintaining a balanced business mix and low sensitivity to market factors. The capital expenditure plan is presented to fully fund the outlined expansion.
Analyst presentation H1 2011 Hera Group resultsHera Group
The document summarizes Hera Group's H1 2011 results. Key points include:
- Revenues, EBITDA, EBIT, and net profit all increased between 9.7-14.1% compared to H1 2010, driven by growth in all business areas.
- Acquisitions included a 50% joint venture in Enomondo and purchase of Sadori Gas.
- Positive free cash flow of €195.2 million allowed funding of capex, working capital increases, and acquisitions.
- Financial debt remained stable at €1.971 billion compared to H1 2010 levels.
- All business areas, including waste, water, gas, and electricity contributed to increased
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including its ownership of CEMAR and a majority stake in CELPA. Charts show key financial metrics like revenue, EBITDA, and investments for CEMAR and CELPA from 2004-2013. The document also reviews the turnaround efforts at CEMAR to reduce energy losses and improve operational and financial performance.
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including details on its subsidiaries CEMAR and CELPA. It then reviews the company's financial performance from 2004-2013, highlighting improvements in EBITDA, investments, and debt levels. Charts are presented comparing operating and financial metrics for CEMAR and CELPA from 2004-2013. The document also summarizes CEMAR's turnaround, outlining initiatives to improve operations, management, and financial results.
Eletropaulo's total market grew 3.3% in 2005. The company received additional revenue from tariff adjustments and bond/debenture issuances. However, the company reported a loss of R$184.4 million due to extraordinary provisions and allowances, including R$346.4 million for MGSP and R$43.7 million for increased PIS/COFINS taxes. The loss and debt costs were expected to improve in 2006 as the extraordinary impacts were non-recurring and debt was restructured at lower costs.
- AES Eletropaulo reported financial results for the third quarter of 2009, with key highlights including:
- EBITDA increased 15.5% year-over-year to R$445 million.
- Net income increased 58.7% to R$235 million, driven by a 14.88% tariff increase and an agreement with the municipality of Sao Paulo.
- Dividends of R$297 million were paid in the third quarter.
Eletropaulo 1 q10_eng_final [modo de compatibilidade]AES Eletropaulo
Eletropaulo reported higher operational and financial results in 1Q10 compared to 1Q09. Key highlights include a 5.2% increase in captive market consumption, lower commercial losses, and a 6.8% increase in net income. Cash generation was 113% higher due to consumption growth and a tariff readjustment. Investments totaled R$46 million focused on expanding the system and customer service. Eletropaulo also issued R$800 million in debentures to refinance debt and fund investments.
This document summarizes Brasiliana's 3rd quarter 2006 results. Key highlights include a 26% increase in adjusted EBITDA compared to the first 9 months of 2005, net profit of R$274.4 million compared to a loss in the same period last year, and a tariff adjustment of 11.45% granted in July 2006. The document also discusses the company's operating performance, financial performance, capital expenditures, debt profile, and conclusions.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
1) The document reports on the 2nd quarter 2006 results of an unnamed company. It highlights an adjusted EBITDA of R$671.2 million for 2Q06 and R$1,253.6 million for the first half of 2006.
2) Net profit was R$201.9 million for 2Q06, a significant increase from R$25.1 million for the same period last year.
3) The company reduced its consolidated net debt by 12% over the last 12 months through debt repayment and renegotiation.
6th annual citi brazil equity conference são pauloAES Eletropaulo
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- AES Brasil is a major player in Brazil's electricity sector with over 7.7 million customers and over 20 million people served. It has invested $14.7 billion since 1997.
- AES Tietê is AES Brasil's hydroelectric power generation business with over 2,600 MW of installed capacity. It supplies over 11,000 GWh annually to distribution companies like AES Eletropaulo.
- AES Tietê has been expanding its customer portfolio in Brazil's evolving electricity market and aims to contract more energy directly in the
AES Brasil Group is a major electricity company in Brazil that operates across generation, transmission, and distribution. It has over 7,000 employees, 8.1 billion reais in investments from 1998-2011, and generates over 13 TWh of energy annually from its 2,659 MW of installed capacity. Two of its main subsidiaries, AES Tietê and AES Eletropaulo, are recognized for management excellence, quality, safety, and environmental concern. AES Tietê operates 18 hydroelectric plants and AES Eletropaulo is the largest electricity distributor in Latin America, serving over 6 million customers in the São Paulo metropolitan area. Both companies have strong financial performance and distribute steady divid
This document provides an overview of AES Brasil for 2008. It discusses the following key points:
- AES Brasil has over 6,000 employees serving over 6 million customers across its distributed energy, negotiated energy, and installed capacity totals.
- Safety is the top value at AES Brasil. Investments in safety programs have helped reduce accidents from 178 in 2006 to 111 in 2008.
- AES Brasil saw improved operational and financial performance in 2008, with higher EBITDA, net income, and dividends while continuing to reduce debt levels.
- The company remains focused on social responsibility programs in areas like education, culture, and volunteer initiatives.
CEMAR and CELPA saw increases in operating metrics in 3Q14. CEMAR's energy sales grew 9.3% and losses decreased. CELPA's energy sales grew 12.4% while losses decreased. Both companies saw improvements in DEC and FEC indexes. Financially, Equatorial's EBITDA grew 36% to R$450 million and net income grew 41% to R$282 million. Total capex for Equatorial increased 115% to R$323 million in 3Q14. Corporate updates included tariff adjustments for CEMAR and CELPA, refinancing of fiscal debt, new debt issuances, and CCC subvention for CELPA.
- The document reports financial results for AES Tietê for 3Q08 and 9M08, including generation levels, EBITDA, net income, investments, and debt levels.
- Key highlights were EBITDA of R$333.7 million for 3Q08, a 20.6% increase over 3Q07, and net income of R$187.7 million for 3Q08, a 33% increase over 3Q07.
- Capex for 9M08 totaled R$35.4 million, primarily spent on maintenance and new small hydroelectric power plants. Cash levels on September 30, 2008 were R$788.1 million.
Apresentação institucional 3T10 - EN - AsiaAES Tietê
The document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. It discusses AES Brasil's key companies including AES Tietê, a hydroelectric power generator, and AES Eletropaulo, the largest electricity distribution company in Latin America. It also covers AES Brasil's financial and operational performance, investments, expansion plans, and the regulatory environment in Brazil's energy sector.
Flextronics International Ltd. earning presentationinvestorrelation
- The company reported financial results for the fourth quarter and fiscal year ended March 31, 2009
- Net sales decreased 28% quarter-over-quarter and 30% year-over-year due to weak demand across all markets
- Gross margin declined to 4.2% from 6.2% due to lower sales and restructuring charges of $128.8 million
- The company announced a restructuring plan to reduce costs through lower depreciation and employee expenses with expected annual savings of $230-260 million to be realized within 2-3 quarters
The document summarizes Arteris' 1Q14 results conference call. It discusses the company's operational and financial performance for the quarter, including a 5.4% increase in tolled traffic and growth in revenue and EBITDA. It also outlines the company's strategy going forward, which focuses on efficient capex delivery, sustainability, operations, and strengthening its corporate image. The document notes Arteris plans to pay a 50% dividend for fiscal year 2013 results.
This presentation summarizes the financial results of Eucatex S.A. for the third quarter of 2010. Gross revenue increased 18% year-over-year to R$248.2 million in 3Q10. Gross margin improved to 37.7% in 3Q10 from 30.7% in 3Q09. Recurring EBITDA grew significantly by 87.7% to R$39.2 million in 3Q10 compared to R$20.9 million in 3Q09, and the EBITDA margin improved to 19.8% from 12.4% over the same period. The company also launched its new T-HDF/MDF line and sold its Santa Luzia farm
This document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. It has a presence in Brazil since 1997 and comprises seven companies. Some key points:
- AES Brasil has invested R$5.8 billion from 1998-2009 and has over 7,700 employees.
- It has two main generation subsidiaries, AES Tietê and AES Sul, and the largest distribution company in Latin America, AES Eletropaulo, which serves the São Paulo metropolitan region.
- It focuses on good governance, sustainability, safety, and shareholder returns through strong cash generation and dividend payouts.
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1. AES Tietê is a leading private hydroelectric power generation company in Brazil with over 2,600 MW of installed capacity. It has a long-term power purchase agreement with AES Eletropaulo, Brazil's largest utility.
2. AES Eletropaulo is Brazil's largest utility, serving over 17 million customers in the metropolitan region of São Paulo. It has a distribution concession agreement that expires in 2028.
3. Both companies reported declines in revenue
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- AES Tietê is a leading hydroelectric power generation company in Brazil with over 2,600 MW of installed capacity. It has a long-term power purchase agreement with AES Eletropaulo, the largest distribution company in Brazil.
- AES Eletropaulo distributes electricity to over 7 million customers in the metropolitan region of São Paulo. It has been investing to improve reliability and reduce losses.
- Both companies have been reporting declines in revenues and earnings recently due to lower energy consumption in Brazil and regulatory changes
- The bank reported a net income of BRL 26.3 million in 1Q09, up 29.4% from 4Q08.
- The credit portfolio remained stable at BRL 6,435.5 million compared to 4Q08, with high quality as 95.9% of loans were rated AA to C.
- Funding increased to BRL 5,690.9 million, with international funding representing 47.5% of the total.
The document provides an overview of Empresa de Energía de Bogotá (EEB), a regional leader in the energy sector. EEB has a wide energy portfolio focused on natural monopolies and has a presence in electricity transmission, distribution, generation and gas distribution, transportation and distribution across Colombia, Peru, Guatemala and other countries. It has ambitious projects under execution to consolidate its strategy and control over subsidiaries. Financial highlights show increasing revenues, earnings and EBITDA in recent years.
In the first quarter of 2013, AES Eletropaulo saw a 14% decrease in gross revenues due to a mandated 20% average tariff reduction. Key operational metrics like SAIDI and SAIFI showed improvements compared to prior periods. Adjusted EBITDA increased 35% year-over-year due to lower expenses in Parcel A and manageable costs growing slower than inflation. A provision for funds transferred from the CDE represented a 17% decrease in Parcel A expenses. Net income declined due to the tariff reset, but cash generation increased 27% with reduced Parcel A costs and expenses.
T-Mobile's integration of Sprint is going well and risks are narrowing. The company is on track to cover over 200M people with mid-band 5G by the end of 2021. The author projects strong subscriber growth for T-Mobile and market share gains over the next several years as its 5G network coverage expands. New opportunities in fixed wireless broadband and mobile edge computing could further increase T-Mobile's valuation beyond current estimates that only consider its traditional wireless business. The author's "Home Run Scenario" values T-Mobile reaching $294 per share by 2024 based on robust growth across both its core wireless segments and new 5G markets.
The document is Banco PINE's 3Q09 earnings release which highlights the following:
- Loan portfolio and deposits expanded in 3Q09 as the economic scenario gradually improved. Non-performing loans declined 40 bps.
- Operating income increased 9.1% in 3Q09 driven by growth in the corporate loan portfolio and total deposits. Financial margin was impacted by deleveraging and lower interest rates but would be 80 bps higher excluding early payroll loan repayments.
- Loan portfolio quality remains high with 96.8% of loans rated AA-C in September. The coverage ratio of non-performing loans was 100.2%.
- Capital adequacy ratio was a comfortable
This presentation summarizes the key financial and operational highlights from Triunfo Participacoes e Investimentos's 1Q13 earnings. Traffic increased 3.2% to 22 million vehicles in 1Q13. Net operating revenue grew 28.9% to R$260.2 million in 1Q13. Adjusted EBITDA increased 35.8% to R$149.2 million in 1Q13 with an EBITDA margin of 57.3%. Net income grew 21.3% to R$18.2 million in 1Q13.
The document summarizes CPFL Energia's 3Q16 results. It reports a 5.6% decrease in net revenue and a 2.0% increase in EBITDA. Key factors influencing results were a 2.3% reduction in load in the distribution concession area, offset by increases in conventional generation prices and the commercial start-up of new renewable projects. Net income decreased 24.8% due to non-cash mark-to-market effects and the reinstatement of regulatory assets for one distribution company. The document also provides updates on growth projects, debt profile, the proposed acquisition by State Grid, and the recently completed acquisition of RGE Sul Distribuidora.
The document summarizes the 3Q12 results of a company. Key points include:
- Operational improvements with decreases in SAIDI and SAIFI indices. Investments increased 10% to R$225 million.
- Financial results declined due to a 5% decrease in revenues from tariff adjustments, and higher energy costs. EBITDA decreased 83% to R$108 million and net income declined 96% to R$14 million.
- The company restructured debts, increasing average maturity to 7.2 years and reducing average costs. Covenants were also made more flexible considering regulatory assets/liabilities and IFRS changes.
O documento resume os resultados financeiros e operacionais da empresa no 3T13, destacando: (1) redução de 14% nas perdas não técnicas e melhoria nos indicadores de qualidade como DEC e FEC; (2) investimentos de R$193 milhões focados em confiabilidade e serviços ao cliente; (3) crescimento de 2,7% no consumo total apoiado pelos mercados residencial e comercial.
In 2012, AES Eletropaulo saw a 1% increase in energy consumption but a decrease in operational metrics like SAIDI and SAIFI. Financial results were lower in 2012 with a 77% drop in EBITDA and 93% decrease in net income due to tariff reductions, higher energy costs, and one-time gains in 2011. The company invested R$831 million in 2012 focusing on maintenance, expansion and customer service. For 2013, AES Eletropaulo is focusing on efficiency initiatives to reduce costs and debt.
O documento apresenta os resultados financeiros e operacionais da empresa no 4T12 e ano de 2012. Os principais pontos são: investimentos de R$831 milhões em 2012, queda no EBITDA de 77% e lucro líquido de 93%, devido à revisão tarifária. Houve também redução nos índices DEC e FEC e aumento de 1% no consumo de energia.
O relatório resume os resultados do terceiro trimestre de 2012, com queda na receita e lucro líquido devido à revisão tarifária e aumento nos custos de compra de energia. Os índices de qualidade como DEC e FEC permaneceram abaixo dos limites regulatórios. A companhia também reestruturou sua dívida alongando prazos e reduzindo custos.
The document provides an overview of AES Brasil, a leading energy company in Brazil. AES Brasil has over 7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It has over 7,400 employees and has invested $8.1 billion from 1998-2011. AES Brasil includes distribution companies like AES Eletropaulo and AES Sul, and generation companies like AES Tietê. It discusses the company's operations, investments in social responsibility, recognition awards, shareholding structure, and positioning in the Brazilian energy market.
Apresentacao aes eletropaulo_1_t13_final - sem discursoAES Eletropaulo
O relatório resume os resultados do primeiro trimestre de 2013 da empresa, destacando: 1) redução de 13% no DEC e de 10% no FEC em comparação ao mesmo período do ano anterior; 2) geração de caixa de R$ 385 milhões, 27% superior ao primeiro trimestre de 2012; 3) Ebitda ajustado de R$ 209 milhões, 35% superior ao primeiro trimestre de 2012.
Itaú bba 8th annual lat am ceo conference in nyAES Eletropaulo
1) AES Brasil is a major player in Brazil's electricity sector with over 7.7 million customers, 20.2 million people served, and 54.4 TWh of energy distributed annually. It has invested $9.4 billion from 1998-2012.
2) AES Tietê is AES Brasil's hydroelectric power generation business with 2,658 MW of installed capacity. It supplies energy to AES Eletropaulo through 2015 and is expanding its customer portfolio for the free market post-2015.
3) In 1Q13, 89% of AES Tietê's net revenues and 73% of its energy sales came from its contract with AES Eletropaulo. It
O documento fornece informações sobre as operações e projetos da AES Tietê, incluindo:
1) A AES Tietê opera usinas hidrelétricas que totalizam 2.658 MW de capacidade instalada. A empresa planeja investir R$ 719 milhões entre 2013-2017 para modernizar as usinas.
2) A empresa tem estratégia de crescimento focada em térmicas e eólicas. Dois projetos térmicos em desenvolvimento são o Termo São Paulo (550 MW) e o Termo Araraquara (579 MW).
3) O
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997. It details AES Brasil's operational figures including 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It also discusses AES Brasil's mission of providing safe, reliable, and sustainable energy solutions. Additionally, the document outlines AES Brasil's social responsibility programs and its position as the second largest electricity generation and distribution group in Brazil.
A apresentação discute a revisão tarifária periódica da AES Eletropaulo, destacando: (1) os investimentos realizados entre 2007-2011; (2) os desafios para o próximo ciclo, incluindo metas de qualidade e investimentos futuros; (3) a composição da tarifa e a necessidade de adequar a base de remuneração regulatória.
O documento resume as informações sobre o grupo AES Brasil e suas subsidiárias AES Tietê e AES Eletropaulo. Apresenta dados operacionais e financeiros das empresas, incluindo investimentos, geração e distribuição de energia, reconhecimentos recebidos e estrutura acionária.
The document provides an overview of AES Brasil Group, one of the largest power companies in Brazil. It details AES Brasil's operational figures including consumption units, distributed energy, installed capacity, and generated energy. It also discusses AES Brasil's recognition for management excellence, quality and safety, and environmental concern. Finally, it summarizes AES Brasil's mission, social responsibility investments, shareholding structure, and position as the second largest group in Brazil's electric sector.
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997. It details AES Brasil's operational figures including 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It also discusses AES Brasil's mission of providing safe, reliable, and sustainable energy solutions. Additionally, the document outlines AES Brasil's involvement in social responsibility programs and its position as the second largest electricity generation and distribution group in Brazil.
The document provides an overview of AES Brasil Group, which has been operating in Brazil since 1997, with 7.7 million consumption units, 53.6 TWh of distributed energy, and 2,658 MW of installed capacity. It details AES Brasil's operations across generation, transmission, distribution and service provision segments. The document also discusses AES Brasil's social responsibility programs, regulatory framework, the Brazilian energy sector landscape and AES Brasil's position as one of the largest players in the country.
The document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. Some key points:
- AES Brasil is the second largest group in the Brazilian electric sector based on 2009 EBITDA and net income.
- It has a presence in Brazil since 1997 and is comprised of seven companies with over 7,700 employees.
- AES Tietê is the group's main generation company and AES Eletropaulo is the largest distribution company in Latin America, serving the São Paulo metropolitan region.
- Both AES Tietê and AES Eletropaulo have long-term concessions and contracts in place and have been
O documento fornece um resumo do Grupo AES Brasil, descrevendo sua presença no Brasil desde 1997, seu portfólio de negócios em geração, distribuição e comercialização de energia, além de telecomunicações, com ênfase nas práticas de governança corporativa sustentável.
Nd roadshow santander e conferência itaú ny engAES Eletropaulo
The document provides an overview of AES Brasil Group, which operates in the energy generation, distribution, trade and telecommunications sectors in Brazil. It discusses AES Brasil's presence since 1997, investments of $6.9 billion from 1998-2010, and its focus on good governance, sustainability, and safety. The document also summarizes recognition received by AES Brasil companies in 2009-2010 for quality, management excellence, and environmental concern. It then reviews the shareholding and capital structures of key AES Brasil companies.
O documento fornece um resumo do Grupo AES Brasil, destacando sua presença no Brasil desde 1997, seu porte com 7,6 mil funcionários e investimentos de R$6,9 bilhões. Também descreve práticas de governança corporativa, sustentabilidade e foco em segurança nos negócios.
O documento resume as principais informações sobre o Grupo AES Brasil. O grupo está presente no Brasil desde 1997 e atua nos setores de geração, distribuição e comercialização de energia e telecomunicações, com 7,6 mil funcionários. O grupo é reconhecido por suas boas práticas de governança corporativa e sustentabilidade.
AES Brasil Group is a major electricity distribution and generation company in Brazil with 7 million clients. In 2008, AES Brasil had R$3.2 billion in Ebitda and R$1.7 billion in net income. It has significant market share in distribution but smaller shares in generation. The document provides an overview of AES Brasil's operations, investments, financial performance, regulatory environment and key subsidiaries such as AES Eletropaulo and AES Tietê.
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2. AES Brasil Group
Market Share
7 million clients
6 thousand AES People
... with a 2008 result:
R$ 3.2 billion (Ebitda)
R$ 1.7 billion (net income)
Discos
14,6%
85,4%
Gencos
3,0%
97,0%
Investments 1998-2008:
R$ 5 billion after privatization
AES Brasil
Others
Disco
Trading Co.
Genco
Telecom
2
3. Shareholding structure
BNDES
AES Corp
C 50.00% + 1 share
P 0.00%
T 46.15%
O = Common Shares
P = Preferred Shares
T = Total
C 50.00% - 1 share
Cia. Brasiliana de
Energia
T 99.76%
AES
Sul
C 99.99%
T 99.99%
AES
Infoenergy
C 100.00%
T 100.00%
AES
Uruguaiana
C 98.26%
T 98.26%
AES
Com RJ
C 76.46%
P 7.43%
T 34.80%
AES
Eletropaulo
C 71.35%
P 32.34%
T 52.55%
AES
Tietê
C 99.99 %
T 99.99 %
AES EP
Telecom
3
5. Energy sector agents in Brazil
Ministry of Mines and
Energy (MME)
(Set Guidelines and Policies)
National Council of
Energy Policy (CNPE)
(Formulates Policies)
Electricity Sector
Surveillance
Committee (CMSE)
Brazilian Electricity
Regulatory Agency
(ANEEL)
Energy Research
Enterprise (EPE)
(Monitors energy supply)
(Ruling, Inspection & Auditing,
Monitoring, and Mediation)
(Generation & Transmission
Planning)
Distribution
companies
Electric Energy
Commercialization
Chamber (CCEE)
Pricing and clearing of
energy transactions
Transmission
companies
System Operator
(ONS)
Generation
companies
Trading
companies
Generator resources
scheduling and dispatch
5
6. Energy sector in Brazil
(Contracting Environment)
Free Market
Regulated Market
Auctions
Distribution Companies
Spot Market
PPAs1
Trading Companies
Free Clients
•
Trading Companies
Free Clients
Main auctions (reverse auctions):
– New Energy (A-5): Delivery in 5 years, 15-30
Distribution
Companies
years regulated PPA
– New Energy (A-3): Delivery in 3 years, 15-30
years regulated PPA
– Existing Energy (A-1): Delivery in 1 year, 5-15
years PPA
1 – Power Purchase Agreement
6
7. Discos regulatory methodology
(Tariff Reset and Adjustment)
Tariff Readjustment and Reset
• Tariff Reset is applied each 3 to 5 years
• Parcel A Costs
− AES Eletropaulo: each 4 years
Energy
− AES Sul: each 5 years
Purchase
− Parcel A costs pass trough the tariff
Transmission
− Parcel B costs are set by ANEEL
− Non-manageable costs that totally
pass- through to the tariff
− Losses reduction improve the passthrough effectiveness
Sector Charges
• Tariff Adjustment: annually
− Parcel A costs pass trough the tariff
− Parcel B cost are adjusted by IGPM +/- X(1)
Factor
X WACC
Remuneration
Asset
Base
X Depreciation
(1) X Factor: index that capture productivity gains
Reference
Company
(PMSO)
Investment
Remuneration
Depreciation
Regulatory
Ebitda
• Reference Company:
– Efficient cost structure, determined by
ANEEL (National Electricity Agency)
• Remuneration Asset Base:
– Applicable investments used to
calculate the Investment Remuneration
(applying WACC) and Depreciation
Parcel A Non-Manageable Costs
Parcel B Manageable Costs
7
9. AES Eletropaulo overview
Concession Area
•
Largest electricity distribution company in Latin America
•
Serving 24 municipalities in the São Paulo Metropolitan area
•
Concession area with the highest GDP in Brazil:
São Paulo Metropolitan Area
–
17.1% of the Brazilian GDP and 50.3% of São Paulo’s state GDP
•
•
•
Regional ABC
1.1 million electricity poles
4,143 employees
•
5.9 million of consumption units
•
Total distributed volume of 41 TWh in 2008
Regional North
Regional South
4,526 km2 of concession area
•
Regional West
46 thousand kilometers of lines
Regional East
Note – Data as of Sept. 2009, except GDP which is 2006
9
10. Ranking¹ for energy distributors
8.000
Net Revenue - R$ MM
7.000
6.000
5.000
2007
2008
4.000
3.000
2.000
CELG
COELCE
CPFL
PIRATININGA
CELPE
AMPLA
ELEKTRO
CELESC
COELBA
COPEL
1.600
BANDEIRANTE
1.800
CPFL PAULISTA
1.000
LIGHT
1st
CEMIG
1st
AES
ELETROPAULO
Net Revenue
Ebitda - R$ MM
1.400
1.200
1.000
Ebitda
2nd
1st
800
600
400
1 – Source: ABRADEE (Brazilian Association of Energy Distributors); research among 48 energy distributors in Brazil.
RGE
CEMAR
CPFL
PIRATININGA
AMAZONAS
COELCE
CELPE
AMPLA
ELEKTRO
COPEL
CPFL PAULISTA
COELBA
LIGHT
CEMIG
AES
ELETROPAULO
200
10
13. Investments amounted up to
R$ 324 million in 9M09
Investments 9M09
Investments Breakdown – R$ million
8%
523
433
378
457
4%
4%
55
45%
16%
47
69
305
77
468
324
26
22%
36
27%
410
364
301
269
298
Customer Service and
System Expansion
Customer Financed
2006
2007
Capex
2008
2009e
9M08
9M09
Maintenance
IT
Loss Recovery
Others
Paid by customers
13
14. SAIDI & SAIFI
SAIDI - System Average Interruption Duration Index
11.81
11.34
SAIFI - System Average Interruption Frequency Index
10.92
8.61
8.49
7.87
8.90
9.20
11.01
5.52
2006
2007
2008
3rd
3rd
5th
SAIDI (hours)
8.41
9M09¹
SAIDI Aneel Target
5.64
2006
3rd
5.20
5.78
2007
2008
9M09¹
1st
1st
SAIFI (times)
SAIFI Aneel Target
ABRADEE ranking position between 28 distributors with
over 500 thousand consumers
1 – Last twelve months
Source: ABRADEE, ANEEL e AES Eletropaulo
14
15. Operational indexes
Losses – %
Collection Rate – % over gross revenue
- 1.3 b.p.
99.1
99.5
- 0.4 b.p.
101.4
97.8
97.7
12.0
11.5
11.6
11.6
11.8
5.5
2007
2008
9M08
5.2
5.3
6.5
6.5
6.5
6.5
2006
9M09
5.1
6.5
2006
5.0
2007
2008
9M081
9M091
Commercial Losses
•
Disconnections and Reconnection – Monthly Average (9M08 X
9M09)
•
Technical Losses²
Fraud and Illegal Connections (9M09)
–
– Disconnections: increase from 233 thousand to 733 thousand
271,000 inspections e 32,000 frauds detected
–
57,000 illegal connections regularized
– Reconnection: increase from 248 thousand to 488 thousand
•
Past due bill credit report (9M09 average): 190 thousand
1 – Last 12 months
2 - Current Technical Losses used retroactively as reference
15
16. Net revenue of R$ 5.9 billion in 9M09
Net Revenue – R$ million
Ebitda – R$ million
2003
EMBI+ BR
Regulatory WACC (%)
2007
4.63% 2.21%
Selic target 16.50% 11.25%
+ 10%
17.1
7,193
15.1
7,529
6,852
1,766
5,540
2006
2007
2008
9M08
1,566
5,855
1,696
1,140
9M09
2006
2007
2008
1,143
9M08
9M09
16
17. Net income of R$ 538 million in 9M09
Dividend payout1 – R$ million
Net Income – R$ million
Pay-out
Dividends
+ 175%
100.3%
101.5%
14.4%
1,027
20.3%
34.9%
713
Yield2 PNB
3.2%
496
373
1,043
538
715
323
130
2006
2007
2008
9M08
2006
9M09
2007
2008
9M09
•
•
1 – Gross amount
2 – Considered 1st semester data
25% of minimum pay-out according to bylaw
Practice on semi-annual basis of maximum permitted
dividend distribution, since 2006 results
•
Yield2 of 6.3% and pay-out² of 106.7%
17
19. Debt profile
Amortization Schedule – R$ million
Net Debt
2.1x
1.3x
1.4x
1.2x
1,532
3.7
3.0
78
2.7
2.5
2006
2007
2008
2009
9M09
Net Debt (R$ billion)
524
2010
62
66
70
250
10
41
3
250
250
75
50
80
125
375
2011
2012
2013
2014
2015
2016-2028
Local Currency (w/out Pension Fund)
Pension Fund
Foreign Currency2
Net Debt / Adjusted Ebitda1
•
September, 2009:
–
Average debt cost is 116.5% of CDI3 per year which means an effective rate of 13.9% per year
–
Average debt maturity is 7.3 years
1 - Last 12 months of adjusted Ebitda
2 – Exchange rate in 09/30/2009 – US$ 1.00 = R$ 1.7781
3 - Brazil’s Interbank Interest Rate19
20. Capital market
AES Eletropaulo1 X Ibovespa X IEE
Average Daily Volume3 - R$ thousand
YTD ’09
170
B
150
130
64%
64%
C
26,066
25,677
21,187
46%
A
7,508
110
90
dec-082 jan-09 feb-09 mar-09 apr-09 may-09 jun-09 jul-09 aug-09 sep-09
ELPL6
IEE
2006
2007
2008
9M09
IBOV
•
A) 25/02/2009 – Finsocial and São Paulo municipality agreement
•
B) 16/04/2009 - Public Consultation of Tariff Reset
•
C) 16/06/2009 – Conclusion of Second Periodic Tariff Reset
1 – Shares were adjusted by declared dividend of the period under analysis
2 – Data Base: 12/28/07 = 100
20
22. AES Tietê overview
Concession Area
•
30 year concession, expires in 2029, renewable for
another 30 years
•
10 hydroelectric plants in the State of São Paulo at Tietê,
Pardo and Mogi Guaçu rivers
Atlantic Ocean
•
Installed capacity of 2,657 MW, with assured energy1 of
1,280 MW
Name and Installed Capacity of AES Tietê’s Plants:
Água Vermelha (1,396 MW)
Ibitinga (132 MW)
Nova Avanhandava (347 MW)
Euclides da Cunha (109 MW)
Promissão (264 MW)
Limoeiro (32 MW)
Bariri (143 MW)
100% of assured energy contracted with AES
Caconde (80 MW)
Barra Bonita (141 MW)
•
Mogi-Guaçu (7 MW)
1 - Amount of energy allowed to be long term contracted
Eletropaulo until the end of 2015
•
310 employees
22
23. Operational Performance
Billed Energy – GWh2
Energy Generation – MW average
September ’09 Prices (R$ / MWh)
AES Eletropaulo
129%
121%
MRE
118%
1,646
1,424
13,421
12,774
1,510
13,148
573
330
1,740
1,680
10,336
536
1,130
327
1,663
11,108
11,108
2007
Generation – MW average
2008
9M09
Generation / Assured Energy2
2006
2007
AES Eletropaulo
1 - Energy Reallocation Mechanism 2 - Amount of energy allowed to be long term contracted
10,728
607
1,571
11,138
8,346
2006
39.68
Spot (9M09 avg.)
112%
1,543
152.00
8.18
2008
9M08
MRE1
8,550
9M09
Spot Market
23
24. Investments
Investments – R$ million
9M09 Investments
New SHPP’s1
Investments
47
63
59
14
51
8
33%
20
12
33
49
43
39
•
45%
19%
35
2006
3%
11
22
2007
2008
2009(e)
9M09
9M09 x 9M08: higher reforestation expending, due to
Carbon Credit Project, partially offset by lower investments
on Piabanha SHPP
1- Small Hydro Power Plant Jaguari Mirim and Piabanha
Equip. and Maint.
New SHPPs
IT
Environment
24
25. Expansion requirement of 15%
Increase installed capacity in Sao Paulo State by 15% (400 MW), either in greenfield projects or through long term
purchase agreement with new plants
The obligation was supposed to be accomplished by December 2007, however AES Tietê was not able to comply with this
requirement due to the following restrictions:
–
Insufficient remaining hydro resources within the State of São Paulo
–
Environmental restrictions
–
Insufficiency of gas supply / timing issue
–
More restricted regulation on energy sale established by the New Model of Electric Sector (Law # 10,848/2004)
which eliminated the self dealing
•
In August 2008, Aneel informed that the issue is not linked to the concession
•
Popular law action against Federal Government, Aneel, AES Tietê, and Duke
–
Status: Defense filed on first instance in October 2008 by AES Tietê. In December, 2008, the author replied AES
Tietê defense and, since this, both parties are waiting judge movement about the necessity of proves production
•
On July 27, 2009, AES Tietê was notified by the State Government Attorney’s Office to present arguments on compliance
with the expansion obligation
–
The Company filed a response on July, 29th, which exhausts the procedure for notification. Possible deployment
depends on new manifestation of the Prosecution
25
26. Projects
expansion requirement
AES Tietê has been seeking opportunities to increase its installed capacity to comply with the 15%
increase requirement in the State of São Paulo
•
6MW of co-generation by biomass contracted for 15 years (initiating in 2010)
•
7 MW of hydropower generation through SHPPs2 in Jaguari Mirim river
– SHPP São José (4 MW) is expected to begin the operation in 1H10
– SHPP São Joaquim (3 MW) is expected to begin the operation in 1H10
•
500 MW of natural gas fired thermo plant
– In stage of defining plant location
•
Concluded
Concluded
(PPA1))
(PPA1
32 MW of hydropower generation through SHPPs under technical and economic viability study
In Progress
In Progress
Under
Under
Evaluation
Evaluation
1 - Power Purchase Agreement
2 - Small Hydro Power Plant
26
27. Net revenue of
R$ 1.3 billion in 9M09
Net Revenue – R$ million
Ebitda – R$ million
+ 17%
+ 14%
1,254
1,621
1,464
1,387
1,277
1,097
1,099
1,028
1,186
2006
2007
2008
9M08
936
9M09
2006
2007
2008
9M08
9M09
27
28. Sustainable profitability and dividend payment
Dividend Payout1 – R$ million
Net Income – R$ million
Dividends
Pay-out
100 %
692
614
2007
2008
100 %
10%
12%
636
609
614
9M08
9M09
609
2006
495
2006
100 %
12%
+ 13%
Yield PN2
2007
692
2008
636
9M09
•
•
1 - Gross amount
2 - Average Weighted Price during the Period
25% of minimum pay-out according to bylaw
Practice on quarterly basis of maximum permitted
dividend distribution, since 2006 results
•
Yield2 of 9.4% and pay-out of 100% in 9M09
28
29. Strong cash flow
Managerial Cash Flow – R$ million
3T08
Initial Cash
Operating Cash Flow
Investments
Net Financial Expenses
Net Amortization
Income Tax
Dividends and IoE
Free Cash Flow
Final Cash – Parent Company
Final Cash of Subs. And Assoc. Comp
Final Cash
673
340
(14)
(13)
(50)
(19)
(134)
110
783
5
788
4T08
783
337
(22)
(7)
(52)
(17)
(188)
53
836
5
840
1T09
836
297
(9)
(6)
(53)
(252)
0
(24)
812
2
814
2T09
812
332
(8)
(13)
(55)
(20)
(409)
(173)
639
2
641
3T09
639
316
(14)
(15)
(58)
(19)
(199)
12
651
1
652
29
33. Social Responsibility
Volunteering Program
distributing
Energy of
Good
Acting to
Transform
Enterprising in
the Community
Specific social mobilization or
emergency campaign.
Opportunities for volunteering in
social organizations, which are
partners of AES Brazil
Acknowledgement and
support of projects for the
development of social
organizations.
Winter clothes, Christmas
campaign, among others.
Co-workers can enroll in
volunteer activities available at
AES Brazil volunteering portal
since September/09
www.energiadobem.com.br
Volunteers may submit
projects to help other
organizations develop. Launch
scheduled for January/10.
•
Launched in December,2008;
•
Objective: to get the co-workers committed to the transformation of low income communities and development
of non-governmental institutions
•
1,100 volunteers
33
34. Social Responsibility
“Casa da Cultura e Cidadania” Project
•
Over 6 thousand children, teenagers,
and adults have been benefited
•
Own and incentive investments:
approximately R$ 14 million in 2009
•
Activities of acting, dancing, circus arts, visual arts, music,
gymnastics, courses of income generation, and education of safe
use of electrical power and the right use of natural resources
•
5 units operating and another one to be launched in the
municipality of Osasco in November, 2009
“Centros Educacionais Infantis Luz e Lápis” - Project
•
302 benefited children between 1 and 6 years old
•
Own investments amounting R$ 1.5 million in 2009
•
Units: Santo Amaro and Guarapiranga
34
35. Environmental actions
•
Carbon Credit
– Clean Development Methodology (CDM) approved by United Nations Framework Convention on Climate Change
(UNFCCC), allows up to 10,000 hectare reforestation on reservoir borders
– AES Tietê is seeking for good business opportunities, and has not transacted credits so far
•
Reforestation
– One million of seedlings production in seed-plot of Promissão hydroelectric power plant
– Donation of seedlings to the society, rural producers, city halls, and non-governmental organizations
•
Fish Farming
– Reproduction of 2.5 million fishes in 10 reservoirs of AES Tiete's plants
•
Archeological Park
– Community involvement into archeological artifacts conservation and better understanding of its scientific
importance
– Social access to the archeological history of the reservoir area
35
36. Contacts:
ri.eletropaulo@aes.com
ri.aestiete@aes.com
+ 55 11 2195 7048
The statements contained in this document with regard to the business prospects, projected operating and financial results, and growth potential are merely
forecasts based on the expectations of the Company’s Management in relation to its future performance. Such estimates are highly dependent on market
behavior and on the conditions affecting Brazil’s macroeconomic performance as well as the electric sector and international market, and they are therefore
subject to changes.