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description
2011 Results Presentation
© Todos os direitos reservados para CTEEP
São Paulo, March 16th 2012
Schedulle
2011 Results
CTEEP
Capital Market Performance
© Todos os direitos reservados para CTEEP 222011 Results Presantion
Capital Market Performance
CTEEP Profile
Responsible for the annual transportation of 30% of all electricity produced in the country,
�12,993 Km of transmission lines;
�18,782 Km of Circuits;
�2,488 Km of optic fiber cables ;
�106 substations.
© Todos os direitos reservados para CTEEP 332011 Results Presantion
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.
Expansion of National Territory
� Expertise in two new states, totaling 14 ;� 653 km of lines� Investiments: R$ 650 million� RAP: R$ 68.9 million
© Todos os direitos reservados para CTEEP 442011 Results Presantion
� Itapeti Substation: 345/88 KV� Investiments: R$ 43 million� RAP: R$ 4.4 million
São Paulo
� In 2011, R$ 219.0
million of investments atNew Connections and
Type 1 and 2
Complementary Projects.
Schedulle
CTEEP
2011 Results
© Todos os direitos reservados para CTEEP 552011 Results Presantion
2011 Results
Capital Market Performance
Gross Operating Revenue
1,398.2
1,590.017.0
19.9
(R$ million)
2,551.4
3,268.7
© Todos os direitos reservados para CTEEP 662011 Results Presantion
319.1 298.2 300.4
693.8
1,103.7
126.9 138.3 130.1
442.5
555.1
327.0561.5
356.4
5.1
4.1
7.6
4Q10 3Q11 4Q11 2010 2011
Construction Operation and Maintenance Financial Others
778.2 794.51,002.2
Net Operating Revenue
2,256.3
2,900.8
1,600.0
2,100.0
2,600.0
Net Revenue(R$ million)
© Todos os direitos reservados para CTEEP 772011 Results Presantion
685.1
896.5
706.5
100.0
600.0
1,100.0
1,600.0
4Q10 3Q11 4Q11 2010 2011
Maintenance Services Costs and Operating Expenses
(R$' 000) 4Q11 3Q11 4Q10Change %
4Q11/3Q11
Change %
4Q11/4Q102011 2010
Change %
2011/2010
Personnel (44,319) (45,661) (42,425) -2.9% 4.5% (169,516) (163,564) 3.6%
Material (137,144) (210,077) (214,497) -34.7% -36.1% (703,797) (423,459) 66.2%
Leases and rentals (2,205) (1,893) (1,787) 16.5% 23.4% (8,298) (6,933) 19.7%
Services (201,528) (93,881) (141,549) 114.7% 42.4% (422,100) (341,022) 23.8%
Cost of Services
© Todos os direitos reservados para CTEEP 882011 Results Presantion
Services (201,528) (93,881) (141,549) 114.7% 42.4% (422,100) (341,022) 23.8%
Other (4,701) (6,402) 8,457 -26.6% -155.6% (19,698) (13,292) 48.2%
Total (389,897) (357,914) (391,801) 8.9% -0.5% (1,323,409) (948,270) 39.6%
General and Administrative Expenses
(R$' 000) 4Q11 3Q11 4Q10Change %
4Q11/3Q11
Change %
4Q11/4Q102011 2010
Change %
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%
General and Administrative Expenses
© Todos os direitos reservados para CTEEP 992011 Results Presantion
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%
Ebitda e Ebitda Margin
1,176.1
1,456.5
37.7%56.8%
42.0%100.0%
200.0%
300.0%
400.0%
1,051.0
1,401.0
52.1%50.2%
© Todos os direitos reservados para CTEEP 10102011 Results Presantion
257.9
509.4
296.5
-400.0%
-300.0%
-200.0%
-100.0%
0.0%
1.0
351.0
701.0
4Q10 3Q11 4Q11 2010 2011
Ebitda Ebitda Margin
Net Income
812.2
915.3
700.0
Net Income(R$ million)
© Todos os direitos reservados para CTEEP 1111
Earnings per share were R$ 1.07 in 4Q11 and R$ 6.00 in 2011
2011 Results Presantion
170.6
344.9
164.0
0.0
350.0
4Q10 3Q11 4Q11 2010 2011
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%.
BNDES
TJLP + 2.3% year 6/15/2015 328,318 421,146
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
TJLP + 2.8% year 7/15/2012 71,890 -
IESUL TJLP + 2.4% year 5/15/2025 9,568 -
PINHEIROS TJLP + 2.6% year 5/15/2025 125,434 -
TJLP + 1.9% year 6/15/2026 48,282 -
TJLP + 1.5% year 6/15/2026 42,217 -
Comercial Papers
5th Series - CTEEP CDI + 0.4% year 7/5/2012 316,885 -
4th Series - CTEEP CDI + 0.4% year 1/12/2012 223,048 -
2010
CTEEP
FUNDING CHARGES MATURITY 2011
IEMADEIRA
SERRA DO JAPI
TJLP40.0%
CDI45.3%
IPCA2.4%
Distribuition of debt burdens
© Todos os direitos reservados para CTEEP 1212
(*) With swap of 103.5% of CDI(**) With swap of 98.3% of CDI(***) With performance bonus of 1.5%, the cost of debt is 8.5% per annum.
2011 Results Presantion
4 Series - CTEEP CDI + 0.4% year 1/12/2012 223,048 -
Debentures
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 -
Banks
USD + 4% year * 4/26/2013 122,077 -
USD + 2.1% year ** 10/21/2013 159,116 -
CDI + 2.0% year 10/21/2013 4,365 1,396
10.0% year - 55,898 56,094
IESUL CDI + 1.5% year 5/19/2030 - 8,297
Eletrobras 8% year 11/15/2021 391 441
Leasing - - 619 1,702
2,771,398 1,428,238TOTAL CONSOLIDATED
IENNE
CTEEP
Others12.2%
BNDES40.0%
Comercial Papers19.5%
Debentures28.1%
Banks12.3%
Distribuition of
debtcontracting
Schedulle
CTEEP
2011 Results
© Todos os direitos reservados para CTEEP 13132011 Results Presantion
Capital Market Performance
Capital Market
0.0
5.0
10.0
15.0
20.0
25.0
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11
Trading Financial 2011(R$ million)
Total R$ 1.796 milllion Daily Avarege: R$ 7.2 million
© Todos os direitos reservados para CTEEP 14
� 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
Shareholder’s Remuneration
EVENT DATE TOTAL P/SHARE
JCP 64,158,159.95 0.420264
Dividends 169,841,944.86 1.112539
JPC 61,228,528.25 0.403273
Dividends 172,771,510.36 1.137935
JCP 63,460,717.92 0.417975
Dividends 160,524,955.66 1.057275
10/31/2011
7/28/2011
AUTHORIZEDTYPE
AMOUNT R$DATE OF PAYMENT
1/30/2012
FISCAL YEAR
2011
RCA
RCA
RCA
12/21/2011
9/30/2011
6/30/2011
© Todos os direitos reservados para CTEEP 15
� In fiscal year 2011, CTEEP paid out R$ 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
Dividends 160,524,955.66 1.057275
RCA 3/31/2011 JCP 65,692,755.70 0.432676 4/29/2011
757,678,572.70 4.981937
7/28/2011
Total of payment 2011
RCA 6/30/2011
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.
© Todos os direitos reservados para CTEEP 1616
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 1717
CTEEP – Companhia de Transmissão de Energia Elétrica Paulista
Investor RelationsPhone: 55 11 3138-7557
ri@cteep.com.brwww.cteep.com.br/ri