Corporate Presentation - Bank of America Merrill Lynch
Transcript of Corporate Presentation - Bank of America Merrill Lynch
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Corporate Presentation
Bank of America Merrill Lynch
March 2015
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Light HoldingsDiversified structure which is comprised of the distribution, generation and commercialization segments.
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Light in numbers
"maz#nia $nergia
%enova
&uanh'es $nergia
&eneration
Comple(o de La)es
Distribution %* +tate Concession"rea
Population- mn mn /
"rea- 44,000 1m2 ,000 1m2 35
&DP- % 40! bn % 30! bn 5
Consumers ! mn 4 mn 5!
6unicipalities 73 8 84
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HPP 9lha dos Pombos
+HP Paracambi
HPP +anta :ranca
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1 IBGE (2010)
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%an;ings Among the largest players in Brazil
9?$% &$?6P"
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+hareholder +tructureEfficient combination of solid industry and financial players
11 Boar& mem3er!. 4 from the controllin
ro+ 2 in&e+en&ent! e 1 em+loyee!
nominate&
A 6alifyin 6orm of 7 mem3er! to
a++rove relevant +ro+o!al! !ch a!. M8A
an& &ivi&en& +olicy
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Corporate &overnanceDecision process assures transparenc and value creation
&eneral "ssembl
&eneral "ssembl
Eiscal Council
Eiscal Council
:oard of Directors
:oard of Directors
"uditors
Committee
"uditors
Committee &overnance and+ustainabilit
Committee
&overnance and+ustainabilit
Committee
Human
%esourcesCommittee
Human
%esourcesCommittee
Einances
Committee
Einances
Committee 6anagementCommittee
6anagementCommittee
Chief $(ecutive>fficer
Chief $(ecutive>fficer
*o'o :. Folini Carneiro %icardo Cesar C. %ocha Luis Eernando &uimar'es "ndreia %ibeiro *unGueira
Eernando "nt#nio E.%eis "ilton Eernando Dias ClIudio :ernardo 6oraes
Paulo %oberto %. Pinto
ChiefCommunications
>fficer
ChiefCommunications
>fficer
Luiz "ntonio %. $lias
LGSXY ADR-OTC6
Chief Einancial and
9nvestor %elations>fficer
Chief Einancial and
9nvestor %elations>fficer
Chief Legal >fficer
Chief Legal >fficer
Chief H% >fficer
Chief H% >fficer Chief Distribution
>fficer
Chief Distribution
>fficer Chief $nerg >fficer
Chief $nerg >fficer
Chief :usiness>fficer
Chief :usiness>fficer
Corporate6anagement >fficer
Corporate6anagement >fficer
,aitin to take office9#
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$nerg ConsumptionDistribution J 764
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1Note. :o +re!erve com+ara3ility in the market a++rove& 3y Aneel in the tariff a&;!tment +roce!!9 the3ille& enery of the free c!tomer *-N ha! 3een con!i&ere& 3ack9
=>="L 6"%1$= K&?h -
9ndustrial
captive5.!
Eree
7./
>therscaptives
4.
Commercialcaptive3/.4
%esidentialcaptive8.5
+3.2%
+3.8% p.a.
19,18617,41
917,25
9
19,800
23.9ºC
24.4ºC
9M129M11
24.3ºC24.0ºC
9M13 9M14
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6ar;et :rea;down
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$L$C=%9C9=B C>< K&?h
=>="L 6"%1$= J "CC6L"=$D
E%$$C"P=9@$
%$+9D$66$%C9"L >=H$%+ =>="L
+3.2%
9M13 9M14
15,209 16,048
19,186
3,978 3,752
19,800
+2.5%
2,686 2,747
2,837
151 161
2,908
+4.5%
5,909
637 663
6,175
1,039
1,042
4,229
3,190
2,928
3,970
+8.6%
6,2126,747
9M13 9M14 9M13 9M14 9M13 9M14 9M13 9M14
-6.1%
5,271 5,512
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Losses and Collection
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L>++$+ K3 6>
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Loss %eduction +trateg$fficient combination between technolog and effective management
)tise oCo)nities
Co)nities
C+=>6$%+ $
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Mechanical Meter Display
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=echnologO Centralized 6easuringse of new technologies in areas with a high level of losses
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Re!lt! con!tantly an& accrately monitore& 3y Liht>
Re!ltlinke& remneration for !ervice! +rovi&e&>
2 nit! im+lemente& =ith 511 tho!an&
client! (12? of total)>
200 tho!an&! a&&itional client! +er year 9
Fero Losses "reaPro)ectO Light LegalQ
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$L$C=%>%1E>%C$6"
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"PF C>LL$C=9>
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%egulator "llowance for
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&eneration
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/55 6? 9nstalled Capacit*once!!ion! E@+irin nly in 202
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HPP +anta :ranca
5 6?
HPP 9lha dos Pombos/! 6?
HPP Eontes
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Cont!acte ;ne! :!ee
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Power &eneration $(pansion!ene#able energy generation pro$ects% mainly through partnerships
!o>ect ?nstalle Ca'acit
M$ss)!e ;ne!M$ae!ae
'e!ational&ta!t
&ta"e
a!aca=i 25 20 2012 51%
enoa652.3 in o'e!ation
1,853.8 cont!acte
296 in o'e!ation
914 cont!acte
2008 - 2014
2015 @ 201915.87%
elo Monte 11,223 4,571 2016 2.49%
#)anhAes 44 25 2015 51%
La>es 17 15 2016 100%
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3/4/15
3/4/15
3/4/15
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3/4/15
3/4/15
1,552
3/4/15
3/4/15
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3/4/15
3/4/15
3/4/153/4/15
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3/4/15
3/4/15
3/4/153/4/15
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3/4/15
1,520
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3/4/15
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1,421
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68.5%
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3/4/153/4/15
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1,011
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3/4/153/4/15
3/4/15
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3/4/15
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1,147
1,319
3/4/15
3/4/15
3/4/153/4/15
3/4/15
1,099
3/4/15
1,273
3/4/15
3/4/15
3/4/15
3/4/15
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1,208
3/4/15
3/4/15
3/4/15
3/4/15
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3/4/15 F 51? Liht
15947? Liht" 29H? Liht
Power &eneration $(pansion9nstalled Capacit K6?
LightSs proportional Participation
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%$+L=+
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>perating Costs and $(penses
Manaea=leist!i=)tion
20.4%
#ene!ation anCoe!cialiation
19.6% Non anaea=le
ist!i=)tionBB 60.0%
& 'li%inatins nt cnsidered&& (nstr!ctin re#en!e nt cnsidered
D9+=%9:=9>< P6+> C>+=+ K%6+=+ K%6+=+ K%6 K8.5 K83. 4./ K7/!.0 K7!7.4 A0./
Provisions K7. K8!.7 78.8 K7!.3 K77.8 3.3
PCLD K8.7 K30.8 47./ K8/.8 K8/.8 0.
Contingencies K5.! K!. 3.3 K5/.7 K.0 8.5
Depreciation K8!. K37./ A7. K4. K7.3 A30.4
>ther operationalMrevenues e(penses
K/.0 K7.4 .8 K350.5 K38.0 5.0
=otal 5/.3 05. /.4 34. 37. 30.5
327
321
988
3,305
979
827
312 327
+4.8%
314313 9M149M13
987 979
-0.8%
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$:9=D" b segment
K% 6
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$:9=D"
;?*9M13
;?*9M14
Neteen)
e
Non-Manaea=l
e Costs
Manaea=le CostsM&
!oisions
e)lato!ssets anLia=ilities
e)lato!ssets anLia=ilities
>)ste;?*9M13
>)ste;?*9M14
"d)usted $:9=D" J 768 M 764 K% 6
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Dividends
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Averae +ayot of 4? in the la!t 5 year!
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9ndebtedness
"verage =ermO 8.! ears
"6>%=9F"=9>< +CH$DL$ (R% MN)
27&(nsiderin/Hedge
& Principal nly
Noinal Cost eal Cost
C>+= >E D$:=
20122011 314
2.24%
8.21%
4.47%
11.27%
4.25%
11.03%
2013
9.68%
3.55%
261
791
1,055
866
1,210
721 733
479 581
(L12.0%
C*? 73.3%
?C
10.8% the!s3.5%
DH/;)!o B0.3%
4,151)65,229)6 5,543)6
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9nvestments
C;I H MNC;I ;J*$N
H MN
9M14
#ene!ation18.1
inist!ati
on27.8 the
!s7.7
*eelo'. o
*ist!i=)tion &ste
339.7
LossesCo=at227.9
?nestents in ;lect!ic ssets*ist!i=)tion
Coe!c./;ne!
;Kcienc8.3
519
2010
701
2011
2012
797
694
103
519
182
775
154
713
132
845
E30.5%
2013
482
9M13
9M14
88
54
394575
630
929
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?h invest in LightT
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Rio a! a ho!t of ma;or event! *ommnitie! +acification ro3!ine!! environment Inve!tment +ro;ect! h3Enery Market ro=th
$conomic=ransformation
in theConcession "rea
rore!! in the :echnoloyroram (-mart Gri&)
Ne= net=ork an& electronic meter!in the +acifie& area!
JKero Lo!!e! Area roram
$nergLosses
%eduction
ro;ect! n&er con!trction =ith+artner!hi+!. Renova Belo Monte an&Ganhe! (total of 544 M,) -' La;e! n&er con!trction(17M,)9
&rowth in the&eneration:usiness
E@+iration of Relate&*ontract! (ec201")Ne= contract! in 201HEnery availa3le forcommercialiation
$nergCommercialization
focused on thefree mar;et
Li!te& in JNovo Merca&o ofBove!+a
Boar& *ommitee! =ith !tron+artici+ation in the &eci!ion makin+roce!! Incl&e& in the -!taina3ility
In&e@ (I-E) for the 7th year
:est Corporate&overnance
Practices
ivi&en& olicy. minimm 50?of net income>
Averae +ayot !ince 200.4?
Dividend trac;%ecord
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Disclaimer
his presentatin %ay incl!de rard*lin/ state%ents accrdin/ t Brailian re/!latins and
internatinal %#able #al!es) hese state%ents are based n certain ass!%ptins and analyses %ade by the
(%pany in accrdance ith its eperience, the ecn%ic en#irn%ent, %aret cnditins and !t!re e#ents
epected, %any hich are !t the (%panys cntrl) $%prtant actrs that can lead t si/nicant
dierences beteen the act!al res!lts and state%ents n !t!re e#ents r b!siness*riented res!lts incl!de
the (%panys strate/y, the Brailian and internatinal ecn%ic cnditins, technl/y, nancial strate/y,
de#elp%ents the p!blic ser#ice ind!stry, hydrl/ical cnditins, cnditins the nancial %aret,!ncertainty re/ardin/ the res!lts its !t!re peratins, plans, /als, epectatins and intentins, a%n/
thers) Beca!se these actrs, the (%panys act!al res!lts %ay si/nicantly dier r% thse indicated
r i%plicit in the state%ents n e#ents r !t!re res!lts)
he inr%atin and pinins herein %!st nt be !nderstd as rec%%endatin t ptential in#estrs, and
n in#est%ent decisin sh!ld be based n the #eracity, the !pdated r c%pleteness this inr%atin r
pinins) ne the (%panys pressinals r parts related t the% r its representati#es ill ha#e any
respnsibility r any lsses that can elapse r% the !se r the cntents this presentatin)
his %aterial incl!des declaratins n !t!re e#ents s!b%itted t riss and !ncertainties, hich are based n
c!rrent epectatins and pr:ectins n !t!re e#ents and trends that can aect the (%panys b!sinesses)
hese declaratins incl!de pr:ectins ecn%ic /rth and de%and and s!pply ener/y, in additin t
inr%atin n c%petiti#e psitin, re/!latry en#irn%ent, ptential /rth pprt!nities and ther
s!b:ects) ;ari!s actrs can ad#ersely aect the esti%ates and ass!%ptins n hich these declaratins are
based n)
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Contacts
*o'o :atista Folini Carneiro*