2. Disclaimer
This presentation may include forward-looking statements of future events or results according to regulations of the
Brazilian and international securities and exchange commissions. These statements are based on certain assumptions
and analysis by the company that reflect its experience, the economic environment and future market conditions and
expected events, many of which are beyond the control of the company. Important factors that may lead to significant
differences between the actual results and the statements of expectations about future events or results include the
company’s business strategy, Brazilian and international economic conditions, technology, financial strategy, public
service industry developments, hydrological conditions, financial market conditions, uncertainty of the results of future
operations, plans, objectives, expectations and intentions, among others. Considering these factors, the actual results
of the company may be significantly different from those shown or implicit in the statement of expectations about future
events or results.
The information and opinions contained in this presentation should not be understood as a recommendation to potential
investors and no investment decision is to be based on the veracity, current events or completeness of this information
or these opinions. No advisors to the company or parties related to them or their representatives shall have any
responsibility for whatever losses that may result from the use or contents of this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on current
expectations and projections about future events and trends that may affect the company’s business. These statements
include projections of economic growth and energy demand and supply, as well as information about the competitive
position, the regulatory environment, potential opportunities for growth and other matters. Several factors may
adversely affect the estimates and assumptions on which these statements are based.
2
3. Highlights
2Q09: EBITDA of R$344 million and Net Income of R$213 million
Energy volume sold by the generation business totaled 1,846 GWh, 29% up on
2Q08 as a result of the asset swap operation;
Unveiling of full commercial operations at Santa Fé SHP;
Commercialized energy reported record sales: volume +15% in 2Q09 vs. 2Q08;
Net Revenue fell 1% due to the elimination of Enersul figures;
Manageable expenses down 12%, dropping for the sixth quarter in a row;
Divestment of ESC 90: positive impact of R$121 million on the 2Q09 result;
Approval and signature for long-term BNDES and IDB financing for Pecém I;
Issuance of R$230 million in promissory notes by Bandeirante;
Launch of the campaign “A Good Energy”;
Start-up in operation of Escelsa’s new commercial system. 3
5. Consolidated Performance
Net Revenues (R$ million) Net Revenues Breakdown (2Q09)
-4%
18%
2,337 2,233 Generation
-1%
16% Distribution
1,128 1,116
Commercialization
66%
2Q08 2Q09 1H08 1H09
Generation
↑29.3% in volume of energy sold; ↑4.2% in average price
Distribution
Elimination of Enersul; ↑0.6% in volume sold to final customers; ↑ of average tariffs
Commercialization
↑14.5% in volume of commercialized energy; ↑14.1% in average price
5
7. Consolidated Performance
EBITDA (R$ million) and Margin (%) EBITDA Breakdown (2Q09)
46%
30.8% 30.7%
30.2% 3%
Generation
28.7% 707 684
Distribution
323 344 Commercialization
51%
2Q08 2Q09 1H08 1H09
Net Income (R$ million) and Margin (%) Adjusted Net Income (R$ million) and Margin (%)
14.8%
19.0%
14.8%
12.7%
11.5%
7.1% 330 296 330
213 213
167
130
0.5
2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 7
8. Capex
Investment Plan regards more than R$ 3.0 billion from 2009 to 2011
R$ million 2Q09 2Q08 Var.%
Distribution 98.1 129.1 -24.0
R$ 1.1 mm R$ 1.1 mm
4% 4% Bandeirante 29.7 39.3 -24.3
6%
Escelsa 68.3 48.5 +40.9
R$ 0.84 mm
33%
30% Enersul - 41.3 n.a.
31% Generation 89.6 66.2 +35.3
18% Enerpeixe 3.4 3.5 -0.8
34%
44% Energest 12.0 21.1 -43.2
41% Lajeado / Investco 0.5 1.1 -58.2
28%
24% Santa Fé 38.3 40.6 -5.6
Pecém 35.4 - n.a.
2009e 2010e 2011e Others 0.5 1.6 -65.6
TOTAL 188.2 196.9 -4.4
Pecém Others Distribution
Repowering Santa Fé
8
9. Debt
Debt Evolution (R$ million) Gross Debt Breakdown (Jun/09)
52% Floating Rates*
3,026 4%
2,402 6% TJLP
2.348
1,741 (476)
(147) US$
Fixed Rates
1,285
* Includes CDI and IGP-M
38%
Gross Debt Cash Regulatory Net Debt Jun/09 Net Debt Mar/09
Jun/09 Assets
Short term Long term
Debt Maturity Schedule* (R$ million) Net Debt (R$ million) and Net Debt/EBITDA* (x)
903 2,390 2,402
2,348
737 754 2,131
724
427 1,680
477
335
476 1.8x 1.8x 1.8x 1.8x
1.4x
Cash.(jun/09)** 2009 2010 2011 2012 After 2012 jun/08 sep/08 dec/08 mar/09 jun/09
(*) Values include principal + interest + results from hedge operations (*) EBITDA of the last 12 months 9
(**) Also includes shares in treasury as of market price on June 30, 2009
10. Debt
Signing of long-term BNDES and IDB financing for Pecém I
Amortization of R$86 million of Escelsa’s debentures
Short-Term Debt Breakdown (R$ million)
903
170 737
427* 60
255
251
476
Cash & Bridge Loan Credit Line Distribution Generation Total 2009
Marketable Pecém
Securities
(Jun/09)
10
(*) Shares in treasury as of market price on June 30, 2009.
11. Credit Limits
Besides these short term credit lines, EDP Energias do Brasil has other lower value pre-
approved credit lines
(R$ million) Approved Credit Lines (Jun-09)
Limit date to
Institution Total approved Used Available use the
resource
BNDES - CALC 900 0 900 2014
BNDES – IDB (Porto do Pecém) 2,000 0 2,000 2009
EIB 270* 0 270 2012
BNDES (Santa Fé SHP) 76 64 12 2009
Total Credit Limits 3,246 64 3,246 -
* Credit line totaled EUR 90 million (EUR45 each distribution company)
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