Comgás reported financial results for the first half of 2009, with growth in several key metrics. Residential customers grew 10.7% and cogeneration customers grew 15.8% compared to the first half of 2008. Gross and net sales revenue increased 10.9% and 9% respectively. Volume sold declined across most segments except residential and cogeneration. The company continued investing in expanding its natural gas network and adding new customers. Dividends of R$200 million were declared to be paid out over the remainder of 2009.
2. 222
Highlights: 1H09
Over 93 thousand residential units were added (UDAs), 12,9% of growth when compared to the
same period of 2008;
Growth of 10,7% on Residential market costumers when compared to the same period of 2008;
Growth of 15,8% on Cogeneration market costumers when compared to the same semester of
2008;
Restore on the Volume Sold in 2nd to the 1st quarter of 2009;
Gross and Net Sales Revenue increasing of 10,9% and 9,0%, respectively when compared to the 1st
semester of 2008.
8. 888
Comgás: Financial Results
R$ thousand
2Q09 1Q09 2Q08 1H09 1H08
986,585 979,593 961,275 0.7% 2.6% Net Sales Revenue 1,966,178 1,804,040 9.0%
-727,918 -683,959 -629,653 6.4% 15.6% Cost of Goods Solds and/or Services Rendered -1,411,877 -1,166,347 21.1%
258,667 295,634 331,622 -12.5% -22.0% Gross Income 554,301 637,693 -13.1%
-104,831 -112,431 -119,002 -6.8% -11.9% Selling, General and Administrative Expenses -217,262 -215,158 1.0%
-40,051 -38,253 -33,158 4.7% 20.8% Depreciation and Amortization -78,304 -64,774 20.9%
-32,085 -37,055 -27,562 -13.4% 16.4% Financial Results -69,140 -55,086 25.5%
122,597 146,148 184,552 -16.1% -33.6% Operating Income 267,539 367,449 -27.2%
79,679 95,805 123,800 -16.8% -35.6% Net Income 175,484 243,689 -28.0%
193,887 221,456 245,272 -12.4% -21.0% EBITDA 415,343 487,309 -14.8%
D
2Q09/1Q09
D
2Q09/2Q08
D
1H09/1H08
9. 999
Comgás: Financial Indicators
Note:
Results achieved the period were annualized.
2Q09 1Q09 2Q08 1H09 1H08
9.9 9.2 8,3 Equity per Share ($) 9.9 8.3
0.7 0.8 1,0 Earnings per Share ($) 1.5 2.0
127.1% 147.1% 142,3% Net Debt per Equity (%) 127.1% 142.3%
1.8 1.8 1,4 Net Debt per EBITDA (x) 1.7 1.5
0.7 0.7 0,7 Current Ratio (x) 0.7 0.7
26.2% 30.2% 34,5% Gross Margin (%) 28.2% 35.3%
8.1% 9.8% 12,9% Net Margin (%) 8.9% 13.5%
19.7% 22.6% 25,6% EBITDA Margin (%) 21.1% 27.0%
8.5% 9.8% 14,2% Return on Assets (%) 9.4% 13.9%
6.7% 8.7% 12,4% Return on Equity (%) 29.7% 48.7%
10. 101010
Dividends Paid
2009: Dividends of R$ 200 million declared to be paid in 3 installments during the year:
June 31st, 2009: R$ 100 million (already paid)
August 31st, 2009: R$ 50 million
October 30th, 2009: R$ 50 million
R$ MM
2001 2002 2003 2004 2005 2006 2007 2008 1H09
200*
275
334330
303
2527
11 16
53%75%77%95%10%26%17% 15%
11. 111111
100
229
200
230
276
474
426
397 403
187
2000 2001 2002 2003 2004 2005 2006 2007 2008 1H09
Investments – 2000 to 1H09
Over R$ 2.9 billion invested in the period
Network Extension:
Jun/08: 5,464 Kms
Jun/09: 5,940 Kms
D: 476 Kms
Main projects:
São Bernardo do Campo
Santos
Campinas
UDA’ s Added:
92.941
CAPEX
R$ MiM
187
12. 121212
Comgás: Regulatory Current Account balance evolution
Balance of Gas bill receivables – Cash Effect
D = 61
D = 204
R$ MM
2Q091Q09
13. 131313
Investor Relations
Companhia de Gás de São Paulo – COMGÁS
www.comgas.com.br/en/investors
Roberto Lage
CFO and IRO
Paulo Polezi
Treasury and Investor Relations
Renata Oliva
Investor Relations
Rua Olimpíadas, nº 205, 10º andar - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil
