CTEEP - 2nd Quarter 2009 Results Presentation

download CTEEP - 2nd Quarter 2009 Results Presentation

of 22

Embed Size (px)

description

2nd Quarter 2009 Results Presentation

Transcript of CTEEP - 2nd Quarter 2009 Results Presentation

  • 1. 2Q09 Results Presentation So Paulo, August 17th 2009 Todos os direitos reservados para CTEEP
  • 2. Agenda Company Update 2Q09 Results Capital Market Performance Subsequent Events 2Q09 Results Presentation Todos os direitos reservados para CTEEP 2
  • 3. Company Update Leading private sector energy transmission concessionaire in Brazil. Responsible for transmission of 30% of electricity produced in the country and 60% of consumption in the Southeast. First So Paulo electricity energy company to sign up to Bovespas Level 1 Corporate Governance. Footprint in 12 states. 2Q09 Results Presentation Todos os direitos reservados para CTEEP 3
  • 4. 12,140 km of Transmission Lines 102 Substations High Technology Miguel Reale Substation 2Q09 Results Presentation Todos os direitos reservados para CTEEP 4
  • 5. COT- Transmission Operating Center - Jundia COR- Backup Operations Center - Cabreva 2Q09 Results Presentation Todos os direitos reservados para CTEEP 5
  • 6. CTEEP and its Shareholders Breakdown Common Shares - TRPL3 Preferred Shares TRPL4 (42% of total) (58% of total) 9.85% 0.75% 35.59% ISA Capital do Brasil Eletrobrs Eletrobrs Secretaria da Fazenda Other Other 89.40% 10.77% 53.64% Total Paid Up Capital ISA Capital do Brasil 27.25% 37.46% Eletrobrs Other 35.29% 2Q09 Results Presentation Todos os direitos reservados para CTEEP 6
  • 7. Agenda Company Update 2Q09 Results Capital Market Performance Subsequent Events 2Q09 Results Presentation Todos os direitos reservados para CTEEP 7
  • 8. Net Revenue Revenue linked to uptime of the Companys assets (R$ million) +14.9% -1.6% 419.9 413.1 359.6 2Q08 1Q09 2Q09 ) 2Q09 Results Presentation Todos os direitos reservados para CTEEP 8
  • 9. Cost of Operating Expenses 2Q09/2Q08 main changes: The increase in personnel expenses in 2Q09 against the same period in 2008 is due to the annual wage bargain agreement of 6.8% in June 2008, the increase in CESP Foundation expenses and the lower income expected from the retirement plans (CVM Decision 371); The increase in third party IT services and outsourced transmission line maintenance; In 2Q09, expenses relating to allowances for contingencies fell by 75.8% as compared with 2Q08; The positive value for expenditures with materials in 2Q09 is due to a reclassification for permanent assets in progress of a expense of R$ 2,357 thousand booked in 1Q09. Cost of Services and General and Administrative Expenses Change % Change % (R$' 000) 2Q09 1Q09 2Q08 1Q09/2Q09 2Q08/2Q09 Personnel -28,373 -30,840 -23,137 -8.0% 22.6% Material 108 -4,474 -2,745 -102.4% -103.9% Services -22,792 -19,432 -16,201 17.3% 40.7% Depreciation -47,012 -46,576 -44,436 0.9% 5.8% Contingencies -2,390 -3,468 -9,870 -31.1% -75.8% Other -6,762 -6,981 -8,320 -3.1% -18.7% Total -107,221 -111,771 -104,709 -4.1% 2.4% 2Q09 Results Presentation Todos os direitos reservados para CTEEP 9
  • 10. EBITDA Strong Cash Generation (R$ million) 85.4% 8 84.5% 8 83.2% 8 +17.9% 8 -0.5% 354.7 352.9 8 299.4 8 8 2Q08 1Q09 2Q09 Ebitda Ebitda Margim 2Q09 Results Presentation Todos os direitos reservados para CTEEP 10
  • 11. Financial Results The principal factor impacting this item was the growth in charges on debt, most notably on commercial papers repaid in 2Q09. Excluding interest on shareholders equity from financial expenses, the financial result would have reported an expense of R$ 17.2 million in the quarter. Change % Financial Income (R$' 000) 2Q09 2Q08 2Q08/2Q09 Income from financial investments 4,383 5,063 -13.4% Interest on assets 943 1,070 -11.9% Net monetary variations 3,377 3,025 11.6% Other 200