2. CTEEP
Operating Performance
1Q12 Results
Capital Market Performance
Your energy
2 INSPIRES US
3. CTEEP Profile
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
The largest private sector concessionaire operating a public utility service for the
transmission of energy in Brazil, controlled by ISA, one of the largest energy
transmission groups in Latin America.
Responsible for the annual transmission of 28.8% of all electricity produced in the
country, 60% of the energy consumed in the Southeast Region and nearly 100% in the
state of São Paulo;
12,993 Km of transmission lines;
18,782 Km of circuits;
2,488 Km of optic fiber cables
106 substations.
Your energy
3 INSPIRES US
4. Corporate Structure
CTEEP is a company which has a series of corporate participations, its results depending directly on the results
A estratégia da CTEEP é baseada no crescimento sustentável
of its subsidiaries and joint ventures. Control of these companies arises when the Company has the power to
com foco na contínua criação de valor
control financial and operational policies of an entity, thereby accruing benefits to its activities.
100% 25% 50% 100% 51% 100% 51%
Your energy
4 INSPIRES US
5. Expansion of national Territory
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua Non-stop Transmission
Largest
criação de valor
Lines under construction in the
world (IEMadeira)
Starting in the continuous current
technology
Relevant Interconnection Projects
in the North of Brazil
Major supporting Works in the
South and Southeast of Brazil
Your energy
5 INSPIRES US
6. CTEEP Market Share
2.537
A estratégia da CTEEP é baseada no crescimento sustentável
RAP Total: 15.247
2.324
407 2.281 com foco na contínua criação de valor
302
Bid
Bid
Not Bid
Not Bid
1.710
422
1.481 CTEEP holds 16% of the market
1.819 RAPtransmission
trasmission.
1.229
471
2.129 370
2.022
627
1.288
546
491 470
1.010 26
858
191
268 265 301
627 231 221
546 - 192
462 465
216
279 268 265 231 221 76
192
76 85
- - - - - - -
Furnas CTEEP CEMIG + Chesf Eletronorte Eletrosul State Grid Alupar CEEE Copel Isolux Cien Abengoa Elecnor Your energy
Cobra CYMI Outras
Outras
Taesa
6 INSPIRES US
7. CTEEP
Operating Performance
1Q12 Results
Capital Market Performance
Your energy
7 INSPIRES US
8. Uptime of Assets
A estratégia da CTEEP é baseada no crescimento sustentável
CTEEP’s operating revenue is directly related to the uptime of its
com foco na contínua criação de valor
assets: transmission lines, reactors and transformers.
99.75% ------------ --------------------
99.50% ------------ -------------------- 99.55% ------------ --------------------
2008 2009 2010 2011 1Q12 2008 2009 2010 2011 1Q12 2008 2009 2010 2011 1Q12
Transmition lines Transformers Your energy
Reactors
8 INSPIRES US
Goal --------------
----------------
9. National Interconnection System (SIN)
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
GWh 475,090
448,090 443,585 491,271 CTEEP Others
317,464 313,823 335,090 350,144
129,425
130,626 129,762 140,000 141,127 92,175
37,250
2008 2009 2010 2011 1Q12
Your energy
9 INSPIRES US
10. CTEEP
Operating Performance
1Q12 Results
Capital Market Performance
Your energy
10 INSPIRES US
11. Highlights
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
Gross Operation Revenue: R$ 722.1 million
Net Operation Revenue: R$ 651.4 million
EBITDA: R$ 350.7 million
EBITDA Margin: 53.8%
Net Income: R$ 205.1 million
Your energy
11 INSPIRES US
12. Gross Operating Revenue
A estratégia da CTEEP é baseada no crescimento sustentável
(R$ million) com foco na contínua criação de valor
794.5
7.6
691.5 722.1
5.3
4.2
356.4
345.5
332.2
130.1
148.7 157.9
300.4
206.4 213.4
1Q11 4Q11 1Q12
Construction Operation and Maintenance Financial Others
Your energy
12 INSPIRES US
13. Net Operating Revenue
(R$ million) A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
.0
706.5
.0
651.4
607.0
.0
.0
.0
300.0
.0
.0
1Q11 4Q11 1Q12
Your energy
13 INSPIRES US
14. Maintenance Services Costs and Operating
Expenses
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
Cost of Services
Change % Change %
(R$' 000) 1Q12 4Q11 1Q11
1Q12/4Q11 1Q12/1Q11
Personnel (48,174) (44,319) (38,800) 8.7% 24.2%
Material (125,594) (137,144) (146,621) -8.4% -14.3%
Leases and rentals (2,145) (2,205) (1,855) -2.7% 15.6%
Services (74,838) (201,528) (63,242) -62.9% 18.3%
Other (6,162) (4,701) (5,219) 31.1% 18.1%
Total (256,913) (389,897) (255,737) -34.1% 0.5%
Your energy
14 INSPIRES US
15. General and Administrative Expenses
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
General and Administrative Expenses
Change % Change %
(R$' 000) 1Q12 4Q11 1Q11
1Q12/4Q11 1Q12/1Q11
Personnel (12,918) (10,179) (9,776) 26.9% 32.1%
Material (504) (394) (253) 27.9% 99.2%
Leases and rentals (1,464) (1,037) (995) 41.2% 47.1%
Services (13,758) (14,064) (11,452) -2.2% 20.1%
Depreciation (1,269) (1,405) (1,513) -9.7% -16.1%
Contingencies (5,576) 17,625 (5,582) 131.6% -0.1%
Other (9,549) (12,051) (6,083) -20.8% -57.0%
Total (45,038) (21,505) (35,654) 109.4% 26.3%
Your energy
15 INSPIRES US
16. Ebitda and Ebitda Margin
(R$ million) A estratégia da CTEEP é baseada no crescimento sustentável
52.2% 53.8%
0 com foco na contínua criação de valor
42.0%
350.7
0 317.2
296.5
0
1Q11 4Q11 1Q12
Ebitda
EBITDA Margin
Your energy
16 INSPIRES US
17. Net Income
A estratégia da CTEEP é baseada no crescimento sustentável
(R$ million)
com foco na contínua criação de valor
351.0
205.8 205.1
164.0
1.0
1Q11 4Q11 1Q12
Your energy
17 INSPIRES US
18. Capital Structure
FUNDING CHARGES MATURITY 1Q12 4Q11
BNDES
CTEEP A TJLP + 2.3% year
estratégia 6/15/2015
TJLP + 1.8% year
da CTEEP é 304,747
6/15/2015
baseada 328,318crescimento sustentável
182,971
no
196,251
Distribuition of
debt
IEMG TJLP + 2.4% year 4/15/2023 56,359 57,631 contracting
IEMADEIRA
TJLP + 2.8% year 7/15/2012 com foco na contínua criação de valor
231,372 229,947
Comercial
TJLP + 2.8% year 7/15/2012 142,397 71,890
Papers
IESUL TJLP + 2.4% year 5/15/2025 9,598 9,568
24.3%
PINHEIROS TJLP + 2.6% year 5/15/2025 126,682 125,434
TJLP + 1.9% year 5/15/2026 51,292 48,282 BNDES
SERRA DO JAPI
TJLP + 1.5% year 5/15/2026 44,334 42,217 38.1%
Comercial Papers
5th Series - CTEEP CDI + 0.4% year 7/5/2012 325,131 316,885
4th Series - CTEEP CDI + 0.4% year 1/12/2012 - 223,048
6th Series - CTEEP 104,9% CDI year 1/5/2013 408,548
Debentures Debentures
1st Issuance - CTEEP CDI + 1.3% year 12/15/2014 504,617 490,736 26.4%
Banks
2sd Issuance - CTEEP IPCA + 8.1% year 12/15/2017 69,468 67,117 12.4%
Single Series - IEMadeira 106.5% CDI year 9/15/2012 224,202 221,608
Banks
USD + 4% year * 4/26/2013 119,572 122,077 Distribuition of
CTEEP debt burdens
USD + 2.1% year ** 10/21/2013 157,804 159,116
CDI + 2.0% year 10/21/2013 4,348 4,365
IENNE
10.0% year - 55,737 55,898
Eletrobras 8% year 11/15/2021 378 391
Leasing - - 540 619 CDI
TOTAL CONSOLIDATED 3,020,097 2,771,398 48.6%
TJLP
38.1%
(*) with Swap 103,5% CDI
(**) with Swap 98,3% CDI
(***) The cost of debt is 8.5% annually, including a performance bonus of 1.5%.. IPCA
2.5%
Others
11.1%
Your energy
18 INSPIRES US
19. Breakdown of Net Debt
A estratégia da CTEEP é baseada no crescimento sustentável
At the end of 1Q12, net debt stood at R$ 2,811.7 million, representing an increase of 9.7% in relation to 4Q11.
com foco
The net debt to shareholders equity ratio at the end of 1Q12 was 60.7%. na contínua criação de valor
(R$ '000) 1Q11 4Q11 1Q12
Debt
Short-term Debt 559,278 1,397,498 1,700,195
Long-term Debt 1,186,951 1,373,900 1,319,902
1,746,229 2,771,398 3,020,097
Cash 162,998 207,295 208,432
162,998 207,295 208,432
Net Debt 1,583,231 2,564,103 2,811,665
Your energy
19 INSPIRES US
20. Breakdown of Net Debt
A estratégia da CTEEP é baseada no crescimento sustentável
801.0
com foco na contínua criação de valor
(R$ million) 2,811.7
As a contractual obligation under its financing 2,564.1
451.0
agreements, the Company must comply with
101.0
quarterly and semi-annually determined
covenants on the basis for the financial 751.0
1,583.2
statements for these periods and prepared in 401.0
line with generally adopted accounting practices 051.0
in Brazil. The Company’s principal covenant is
701.0 1.9
1.8
the Net Debt to Ebitda ratio that should be
351.0 1.3
equal or less than 3.5.
1.0
1Q11 4Q11 1Q12
Ebitda Net Debt/EBITDA (Last 12 months)
Your energy
20 INSPIRES US
21. CTEEP
Operating Performance
1Q12 Results
Capital Market Performance
Your energy
21 INSPIRES US
22. Capital Market
A estratégia da CTEEP é baseada no crescimento sustentável
125
TRPL3
com foco na contínua criação de valor
120 TRPL4
Retorno Total TRPL4
Total Return - - TRPL4
115 +15,74%
IBOVESPA +13,67%
IEE +10,63%
110
+8,18%
+7,76%
105
100
95
(base 100 = 31/12/2011)
90
Jan-12 Feb-12 Mar-12
Your energy
22 INSPIRES US
23. Capital Market
A estratégia da CTEEP é baseada no crescimento sustentável
Trading Financial 1T12 com foco na contínua criação de valor
(R$ million)
Total R$ 631 million Daily Avarege: R$ 10 million
25.0
20.0
15.0
10.0
5.0
0.0
Jan-12 Feb-12 Mar-12
58.5 thousand trading transactions in 1Q12 (818 daily average traded);
Present on all trade days;
Component of Ibovespa;
R$ 9 billion market capitalization.
Your energy
23 INSPIRES US
24. Shareholder’s Remuneration
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
AUTHORIZED AMOUNT R$
TYPE DATE OF PAYMENT FISCAL YEAR
EVENT DATE TOTAL P/SHARE
JPC 64,158,159.95 0.420264
RCA 12/21/2011 1/30/2012 2011
Dividends 169,841,944.86 1.112539
TOTAL OF PAYMENT - 1Q12 234,000,104.81 1.532803
In 1Q12, CTEEP paid out to its shareholders R$ 64.2 million as interest on shareholders’ equity, corresponding to
R$ 0.42 per share for both types of share and R$ 169.8 million as dividends equivalent to R$ 1.1 per share, again
for both types.
Your energy
24 INSPIRES US
25. Disclaimer
A estratégia da CTEEP é baseada no crescimento sustentável
com foco na contínua criação de valor
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.
Your energy
25 INSPIRES US
26. Investor Relations
Phone: 55 11 3138-7557
ri@cteep.com.br
www.cteep.com.br/ri
Your energy
26 INSPIRES US
