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Teleconferencia 4 q13
1. COMPANHIA DE GÁS DE SÃO PAULO
Financial and Operational Results
December 31th, 2013
1
2. Disclaimer
The statements contained in this report regarding the outlook on business,
estimations on financial and operational results and growth prospects for COMGÁS
are merely estimations and, as such, are based exclusively on management
expectations regarding future events and tendencies, that affect or may affect the
business. These estimations are subject to many risks and uncertainties and are
made considering the information currently available, and depend, substancially on
market conditions, the Brazilian economys performance, the business sector and
international markets, and are therefore subject to change without pior notice.
Because of these uncertainties, the investor should not make any investment
decisions based on these estimations and declarations on future operations.
3. Operating Highlights
Record volume for the year, 5.4 bi m³, up 43%, 13% and 7%, in the thermal generation, residential and
commercial segments respectively;
Record high investment of R$ 852 million for the year, up 38% compared to 2012;
1,629 Km of distribution network added in 2013, up 27% year-over-year, and record high construction of 160
Km of steel network;
Over 13 million men/hour worked, with one incident with leave;
Issue of debentures in the amount of R$ 540 million; the first natural gas distributor to issue infrastructure
debentures;
EBITDA, normalized by the regulatory current account, of R$ 1,336 million in 2013, up 14% year-overyear;
Net cash generation impacted by the increase in the gas cost, regulatory current account net of R$ 33 million
recovered during the year;
Credit and Collection process more effective, resulting an improvement of 14% in the DSO (days sales
outstanding).
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4. Clients Highlights
Mark of 1,300,000 customers achieved during the year;
Record in residential customers connections, with over 117,000 homes connected in the year;
Record in commercial sector connections, with over 1,000 customers connected in 2013;
Year-over-year increase of 22% in the score in the “Companies that Respect Consumers the Most”
survey;
Customer satisfaction reached 93% according to a survey by ARSESP, the highest score among all
concessionaires;
Ombudsman processes and team restructuring, helping the company respond to 100% of the claims
received by ARSESP within the agreed deadlines in the second half of the year.
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8. Regulatory Current Account
in million of R$
500
0.80
0.73
400
0.64
360
362
0.75
381
334
300
0.85
364
351
348
0.65
0.55
200
204
0.48
0.45
150
100
0.35
0
-5
0.25
-128
-100
0.15
-198
-200
-230
0.05
-300
-0.05
Dec 10
Mar 11
Jun 11
Sep 11
Dec 11
Mar 12
Jun 12
Current Account
8
Sep 12
Dec 12
Gas Cost - R$/m³
Mar 13
Jun 13
Sep 13
Dec 13
9. Investments
in million of R$
+38%
852
616
510
406
405
189
100
2000
...
2009
2010
2011
2012
4Q
209
2013
Projects in the Year
Network Extension – Km/year
1,629
Guarulhos
São José dos Campos
1,282
Taubaté
1,127
Jundiaí
553
642
363
4Q
459
185
2000
...
2009
2010
2011
2012
2013
Americana
RETAP (Aço)
Itaquera
São Bernardo do Campo
9
10. Debt Structure
in thousand of R$
Dec 13
Short Term Debt
Dec 12
384,665
925,305
Long Term Debt
2,247,191
1,435,120
Total Debt
2,631,856
2,360,425
535,957
169,725
(=) Net Debt
2,095,899
2,190,700
EBITDA(*)
1,403,249
967,553
Net Debt/ EBITDA
1.49
2.26
Short Term Debt/ Total Debt
0.15
0.39
(-) Cash
Debt Amortization Schedule (R$ mm)
565
385
383
90
218
425
122
165
2014
2015
517
94
Others
8%
EIB
24%
357
116
198
443
295
Debt Composition
241
Debentures
22%
423
227
BNDES
46%
2016
Local Currency
*EBITDA considering the last 12 months
2017
2018
Foreign Currency
2019
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