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Semelhante a Apresentacao 4 t11_ingl (20)
Apresentacao 4 t11_ingl
- 1. 2011 Results
Presentation
São Paulo, March 16th 2012
© Todos os direitos reservados para CTEEP
- 2. Schedulle
CTEEP
2011 Results
Capital Market Performance
2011 Results Presantion © Todos os direitos reservados para CTEEP 2
- 3. CTEEP Profile
12,993 Km of transmission lines;
18,782 Km of Circuits;
2,488 Km of optic fiber cables ;
106 substations.
Responsible for the annual
transportation of 30% of all
electricity produced in the country,
60% of the energy consumed in
the Southeast Region
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.
2011 Results Presantion © Todos os direitos reservados para CTEEP 3
- 4. Expansion of National Territory
Expertise in two new
states, totaling 14 ;
653 km of lines
Investiments: R$ 650
million
RAP: R$ 68.9 million
In 2011, R$ 219.0
million of investments at
New Connections and
Type 1 and 2
São Paulo Complementary Projects.
Itapeti Substation: 345/88 KV
Investiments: R$ 43 million
RAP: R$ 4.4 million
2011 Results Presantion © Todos os direitos reservados para CTEEP 4
- 5. Schedulle
CTEEP
2011 Results
Capital Market Performance
2011 Results Presantion © Todos os direitos reservados para CTEEP 5
- 6. Gross Operating Revenue
(R$ million) 3,268.7
19.9
2,551.4
17.0
1,590.0
1,398.2
555.1
1,002.2
778.2 4.1 794.5
442.5
5.1 7.6
561.5
327.0 356.4 1,103.7
126.9 138.3 130.1 693.8
319.1 298.2 300.4
4Q10 3Q11 4Q11 2010 2011
Construction Operation and Maintenance Financial Others
2011 Results Presantion © Todos os direitos reservados para CTEEP 6
- 7. Net Operating Revenue
2,900.8
Net Revenue
(R$ million)
2,600.0
2,256.3
2,100.0
1,600.0
1,100.0
896.5
685.1 706.5
600.0
100.0
4Q10 3Q11 4Q11 2010 2011
2011 Results Presantion © Todos os direitos reservados para CTEEP 7
- 8. Maintenance Services Costs and Operating Expenses
Cost of Services
Change % Change % Change %
(R$' 000) 4Q11 3Q11 4Q10 2011 2010
4Q11/3Q11 4Q11/4Q10 2011/2010
Personnel (44,319) (45,661) (42,425) -2.9% 4.5% (169,516) (163,564) 3.6%
Material (137,144) (210,077) (214,497) -34.7% -36.1% (703,797) (423,459) 66.2%
Leases and rentals (2,205) (1,893) (1,787) 16.5% 23.4% (8,298) (6,933) 19.7%
Services (201,528) (93,881) (141,549) 114.7% 42.4% (422,100) (341,022) 23.8%
Other (4,701) (6,402) 8,457 -26.6% -155.6% (19,698) (13,292) 48.2%
Total (389,897) (357,914) (391,801) 8.9% -0.5% (1,323,409) (948,270) 39.6%
2011 Results Presantion © Todos os direitos reservados para CTEEP 8
- 9. General and Administrative Expenses
General and Administrative Expenses
Change % Change % Change %
(R$' 000) 4Q11 3Q11 4Q10 2011 2010
4Q11/3Q11 4Q11/4Q10 2011/2010
Personnel (10,179) (10,649) (9,903) -4.4% 2.8% (41,235) (38,028) 8.4%
Material (394) (435) (955) -9.4% -58.7% (1,481) (2,320) -36.2%
Leases and rentals (1,037) (1,638) (880) -36.7% 17.8% (4,878) (3,728) 30.8%
Services (14,064) (11,767) (16,272) 19.5% -13.6% (45,659) (39,660) 15.1%
Depreciation (1,405) (1,582) (1,625) -11.2% -13.5% (6,138) (6,047) 1.5%
Contingencies 17,625 (1,035) (7,973) -1802.9% -321.1% (1,598) (31,522) -94.9%
Other (12,051) (3,661) 635 229.2% 1997.8% (26,028) (16,628) 56.5%
Total (21,505) (30,767) (36,973) -30.1% -41.8% (127,017) (137,933) -7.9%
2011 Results Presantion © Todos os direitos reservados para CTEEP 9
- 10. Ebitda e Ebitda Margin
52.1%
50.2%
400.0%
1,456.5
1,401.0 300.0%
1,176.1 200.0%
1,051.0
56.8% 100.0%
37.7% 42.0%
0.0%
701.0
-100.0%
509.4
-200.0%
351.0 296.5
257.9
-300.0%
1.0 -400.0%
4Q10 3Q11 4Q11 2010 2011
Ebitda Ebitda Margin
2011 Results Presantion © Todos os direitos reservados para CTEEP 10
- 11. Net Income
Net Income
(R$ million)
915.3
812.2
700.0
344.9
350.0
170.6 164.0
0.0
4Q10 3Q11 4Q11 2010 2011
Earnings per share were R$ 1.07 in 4Q11 and R$ 6.00 in 2011
2011 Results Presantion © Todos os direitos reservados para CTEEP 11
- 12. Capital Structure
At the end of 2011, net debt was R$ 2,564.1 million.
At the end of 2011, the net debt to shareholders’ equity ratio was 56.5%.
FUNDING CHARGES MATURITY 2011 2010
Distribuition of
BNDES debt burdens
TJLP + 2.3% year 6/15/2015 328,318 421,146
CTEEP
TJLP + 1.8% year 6/15/2015 196,251 160,605
IEMG TJLP + 2.4% year 4/15/2023 57,631 37,630
TJLP + 2.8% year 7/15/2012 229,947 185,134
IEMADEIRA CDI
TJLP + 2.8% year 7/15/2012 71,890 -
IESUL TJLP + 2.4% year 5/15/2025 9,568 - 45.3%
TJLP
PINHEIROS TJLP + 2.6% year 5/15/2025 125,434 - 40.0%
TJLP + 1.9% year 6/15/2026 48,282 -
SERRA DO JAPI
TJLP + 1.5% year 6/15/2026 42,217 -
Comercial Papers
IPCA
5th Series - CTEEP CDI + 0.4% year 7/5/2012 316,885 -
2.4%
4th Series - CTEEP CDI + 0.4% year 1/12/2012 223,048 -
Debentures Others
12.2%
1st Issuance CDI + 1.3% year 12/15/2014 490,736 490,405
2sd Issuance IPCA + 8.1% year 12/15/2017 67,117 65,388
Single Series CDI + 6.5% year 9/15/2012 221,608 -
Distribuition of
Banks
debt
USD + 4% year * 4/26/2013 122,077 -
CTEEP contracting
USD + 2.1% year ** 10/21/2013 159,116 -
CDI + 2.0% year 10/21/2013 4,365 1,396 Comercial
IENNE Papers
10.0% year - 55,898 56,094
19.5%
IESUL CDI + 1.5% year 5/19/2030 - 8,297
BNDES
Eletrobras 8% year 11/15/2021 391 441 40.0%
Leasing - - 619 1,702
TOTAL CONSOLIDATED 2,771,398 1,428,238
Debentures
28.1%
(*) With swap of 103.5% of CDI
(**) With swap of 98.3% of CDI Banks
12.3%
(***) With performance bonus of 1.5%, the cost of debt is 8.5% per annum.
2011 Results Presantion © Todos os direitos reservados para CTEEP 12
- 13. Schedulle
CTEEP
2011 Results
Capital Market Performance
2011 Results Presantion © Todos os direitos reservados para CTEEP 13
- 14. Capital Market
Trading Financial 2011
(R$ million)
Total R$ 1.796 milllion Daily Avarege: R$ 7.2 million
25.0
20.0
15.0
10.0
5.0
0.0
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11
185.1 thousand
trading transactions
in 2011 (743 daily
average traded).
Present on all trade
days;
Component of
Ibovespa;
R$ 9 billion market
capitalization.
2011 Results Presantion © Todos os direitos reservados para CTEEP 14
- 15. Shareholder’s Remuneration
AUTHORIZED AMOUNT R$
TYPE DATE OF PAYMENT FISCAL YEAR
EVENT DATE TOTAL P/SHARE
JCP 64,158,159.95 0.420264
RCA 12/21/2011 1/30/2012
Dividends 169,841,944.86 1.112539
JPC 61,228,528.25 0.403273
RCA 9/30/2011 10/31/2011
Dividends 172,771,510.36 1.137935 2011
JCP 63,460,717.92 0.417975
RCA 6/30/2011 7/28/2011
Dividends 160,524,955.66 1.057275
RCA 3/31/2011 JCP 65,692,755.70 0.432676 4/29/2011
Total of payment 2011 757,678,572.70 4.981937
In fiscal year 2011, CTEEP paid out R$ 254.5 million as interest on
shareholders’ equity, corresponding to R$ 1.67 per share for both types of share
and R$ 503.1 million as dividends equivalent to R$ 3.31 per share, again for
both types.
2011 Results Presantion © Todos os direitos reservados para CTEEP 15
- 16. Disclaimer
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.
© Todos os direitos reservados para CTEEP 16
- 17. CTEEP – Companhia de Transmissão de Energia Elétrica Paulista
Investor Relations
Phone: 55 11 3138-7557
ri@cteep.com.br
www.cteep.com.br/ri
© Todos os direitos reservados para CTEEP 17