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Light corporate presentation Bradesco

Apr 04, 2018

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    Bradesco BBI Energy and Power ConferenceJune 2009

    Bradesco BBI Energy and Power ConferenceJune 2009

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    Light S.A.Light S.A.

    2

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    Corporate StructureCorporate Structure

    3

    52.1%]

    Total shares: 203,934,060

    Market Value: R$ 5.0 billion (as of May 15, 2009)

    25.0% 25.0% 25.0% 25.0%

    !"#

    100.0%

    33.6% 6.6% 7.7%

    52.1%]

    Total shares: 203,934,060

    Market Value: R$ 5.0 billion (as of May 15, 2009)

    25.0% 25.0% 25.0% 25.0%

    !"#

    100.0%

    33.6% 6.6% 7.7%

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    3.9 million clients (attending over 10 million people)

    Energy sales (2008) 23,698 GWh

    70% of the consumption of Rio de Janeiro state (Brazils 2nd GDP)

    4th largest energy distribution company in Brazil4th largest energy distribution company in Brazil

    Distribution BusinessDistribution Business

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    Energy SalesEnergy Sales

    DistributionDistributionELETRIC POWER CONSUMPTION

    (GWh)

    5

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    3.7%

    1.6%

    6.7%

    -4.0%

    3.2%

    1.6%

    3.7%

    - 13.7%

    MarketMarket

    EnergyEnergy SalesSales

    ELECTRIC ENERGY CONSUMPTION (GWh)

    TOTAL MARKET (Captive + Free)

    ELECTRIC ENERGY CONSUMPTION (GWh)

    CAPTIVE MARKET

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    3.7%

    6.1%

    5.2%

    MarketMarket

    BilledBilled DemandDemand

    ELECTRIC ENERGY DEMAND (GW)

    Note: To preserve comparability with the market approved by Aneel in the Tariff Review process, the energy and demandmeasured of free customers Valesul, CSN and CSA were excluded as the exit of these customers to the basic network isplanned. In 1Q08, energy consumption of these customers totaled 662 GWh and demand was 2,794 GW.

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    COLLECTION INDEX

    (12 MONTHS AVERAGE)

    Collection Rate EvolutionCollection Rate Evolution

    COLLECTION BY SEGMENT

    (12 MONTHS AVERAGE)

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    LossesLosses combatcombat

    Pass-throughin the tariff: 19.15

    216%

    76%

    LOSSES EVOLUTION (12 months)

    ENERGY INCORPORATION

    GWh

    ENERGY RECOVERY

    GWh

    15.95

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    Installed capacity 855 MWInstalled capacity 855 MWInstalled capacity 855 MW

    Generation BusinessGeneration Business

    855 MW of installed capacity

    5 power plants and 2 pump stations

    537 MW average of assured capacity

    855 MW of installed capacity

    5 power plants and 2 pump stations

    537 MW average of assured capacity

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    LightLights generation businesss generation business

    ReRe--pricing of existing energypricing of existing energy

    GENERATION

    Assured energy: 537MW average

    11

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    + 50%

    * Corresponds to 51% Lights stake in each project.

    LightLights new generation projectss new generation projects

    Strategy of growing in generationStrategy of growing in generation

    SHP Paracambi - Installation license authorizing thebeginning of construction works was granted

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    New Generation ProjectsNew Generation Projects

    SHPParacambi

    SHPParacambi 25 MW

    25 MW 21.5 MW21.5 MW 20112011- Finishing EPC Contract

    - All environmentallicenses obtained

    - Finishing EPC Contract- All environmentallicenses obtained

    SHPLajes

    SHPLajes 18 MW

    18 MW 15 MW15 MW 20112011Tunnel 2

    construction

    Tunnel 2construction

    HPPItaocara

    HPPItaocara 195 MW

    195 MW 110 MW110 MW 20132013Developing environmental

    studies and BasicEngineering project

    Developing environmentalstudies and Basic

    Engineering project

    OtherProjectsOtherProjects > 300 MW> 300 MW To be announced untilDecember 2010To be announced untilDecember 2010

    ProjectsProjectsInstalledInstalledCapacityCapacity

    AssuredAssuredEnergyEnergy

    Start upStart upEstimativeEstimative StatusStatus

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    ResultsResults

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    CAGR +4.3%

    NET REVENUES EVOLUTION (R$ MM)

    Net RevenuesNet Revenues

    9.3%

    NET REVENUES PER SEGMENT

    15

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    MANAGEABLE COSTS EVOLUTION

    (R$ MM)

    -36.3%

    Costs and ExpensesCosts and Expenses

    -7.2%

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    1 Pro forma: does not consider profit sharing costs

    EBITDA (R$ MM)* and EBITDA Margin

    EBITDA EBITDA Margin

    EBITDA 1Q09 - R$ MM

    EBITDA EBITDAMargin

    Distribution 312.8 22.8%

    Generation 44.7 62.4%

    Commercialization 2.9 16.3%

    EBITDA per segment*

    1Q09

    Financial ResultsFinancial Results

    EBITDAEBITDA

    +13.5%

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    InvestmentsInvestments

    MAIN INVESTMENTS

    R$ MM 1Q08 1Q09 variation

    Losses Combat 25.4 19.1 (6.3)

    Distribution network development 37.1 35.0 (2.1)

    Quality improvement (structureoptimization and preventive

    maintenance)22.9 10.7 (12.2)

    Generation maintenance 1.0 2.2 1.2

    New generating projects 1.1 3.1 2.0

    INVESTMENTS (R$MM)

    51.1%

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    NET INCOME (R$ MM) DIVIDENDS AND DIVIDEND YIELD*

    *Based on the closing price of the previous day to the announcement

    8.3%

    4.1%

    8.2%

    9.7%

    Dividendspaid

    Dividend YieldDividendsto be paid

    Financial ResultsFinancial Results

    60.6%

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    (1) Net Debt = Total Debt (excludes pension fund liabilities) - Cash

    IndebtednessIndebtedness

    NET DEBT (R$ MM) and NET DEBT/ EBITDA

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    * Principal only

    Maturity: 4.4 years

    AMORTIZATION* MAR/09 (R$ mn)

    *Considering Hedge

    DEBT COST EVOLUTION

    IndebtednessIndebtedness

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    Shares PerformanceShares Performance

    103% Light

    32% Ibovespa

    65% IEE

    R$/share08/10/06 11.6705/14/09 23.68

    2008IEE -12%IBOV -41%LIGT3 -14%

    2009IEE 28%IBOV 32%LIGT3 20%

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    ContactsContacts

    Ronnie Vaz MoreiraCFO and IRO

    Ricardo LevyFinancial and IR Superintendent

    + 55 21 2211 [email protected]

    Cristina GuedesIR Manager

    + 55 21 2211 [email protected]

    www.light.com.br

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    AnnexAnnex

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    LoadLoad ((GWhGWh)) vsvs TemperatureTemperature ((C)C)

    25

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    Tariff Review 2008 x 2003Tariff Review 2008 x 2003

    24%

    GROSS RAB (R$MM)

    23%

    NET RAB (R$MM)

    22%

    REFERENCE COMPANY (R$MM)

    13%

    REGULATORY EBITDA (R$MM)

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    Tariff Review 2008 x 2003Tariff Review 2008 x 2003

    MARKET GROWTH AND X FACTOR

    3.18 p.p.

    REGULATORY LOSSES (% grid load)

    0.4 p.p.

    DELIQUENCY (%)

    Market Growth X Factor (Xe)

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    Important NoticeImportant Notice