1. 1
COMPANHIA DE GÁS DE SÃO PAULO
Financial and Operational Results
December 31st, 2012
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.
4. 4
Highlights
Record volume: the total volume distributed was 5,259mm³, 8.8% above that of 2011;
Record investments: R$ 616 million in 2012, in which R$ 189 million were invested during the 4Q2012;
Record residential connections: 115 thousand new households connected during the year;
Record network extension: 1,282 km of network built during the year;
Record revenue: R$ 6,5bi of gross revenue and R$ 5,3bi of net sales during the year;
Extraordinary tariff adjustment: because of the dollar volatility and consequent raise of gas cost, on 11/29
ARSESP authorized new tariffs. Despite the adjustment, the account balance closed the year in R$ 381mm;
Funding: on October 2nd, a long term funding contract was signed with BNDES, of the sum total of R$ 1.1
billion;
ARSESP’s approval: transfer of 60.1% of BG’s participation in Comgás to Provence Participações S.A.
(company controlled by Cosan S.A. Indústria e Comércio);
Incorporation: in December, Provence Participações S.A. was incorporated by Comgás, resulting in the
amount of R$ 844mm recorded as a deferred tax.
Year of 2012
5. Fornecimento de Gás Natural: CONTRATOS
5
Daily quantity contracted:
approximately 14.3 millions of m³/day,
besides auction contracts.
Daily quantity demanded:
approximately 12.9 millions of m³.
Contracts
Natural Gas Supply
Contracts TCQ Firm Contract Firm of Energy Auction
Contract Models Firm Firm Firm of Energy Firm of Short Term
Gas Source Bolivian Undetermined Undetermined
Surplus of PB's contracts with other
distributors / thermal power plants
DQC
End of Contract Jun/19 Dec/13 Dec/12 Sep/13
Commodity +
Transportation
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Transportation: annual
readjustment according to USA
Inflation: CPI
Fixed Charge: annual readjustment
by IGP-M
Fixed Charge: annual readjustment
by IGP-M
Commodity: quarterly correction
based on Oil Basket
+ Exchange Rate
Variable Charge: quarterly
correction based on Oil Basket
Variable Charge: quarterly
correction based on Oil Basket
Price
8.10 MMm3
/day for Aug/2012
forward
5.22 MMm3
/day for Aug/2012
forward
1.0 MMm³/day according to bids
According to the bid made by the
Auction Winner