Cteep apresentacao 1_q09_v_21maio2009_english_final

© Todos os direitos reservados para CTEEP

1Q09 PresentationResults

São Paulo, May 21th 2009

© Todos os direitos reservados para CTEEP2

Agenda

Capital Market Performance

Subsequent Events

1Q09 Results

Company Update


Company Update

Leading private sector energy transmission concessionaire in

Brazil.

Responsible for transmission of30% of electricity produced in the country and 60% of consumption

in the Southeast.

First São Paulo electricity energy company to sign up to Bovespa’s

Level 1 Corporate Governance.

Footprint in 12 states.


12,140 km of Transmission Lines 102 Substations

High Technology

Miguel RealeSubstation


COT- Transmission Operating Center - Jundiaí

COR- Backup Operations Center - Cabreúva


Organizational StructureThe organizational structure

has been improved, guaranteeing greater

responsiveness in corporate decision making

Establishment of a new businesses department in line with the Company’s growth strategy.

Procurement

Legal

Human Resources

Administration Officer

Financial and Investor Relations Officer

Investor Relations

Financial Planning

Financial Resources

Accounting

Maintenance

São Paulo Reg. Div.

Taubaté Reg. Div.

Cabreúva Reg. Div

Operations

OperationsAnalysis

Bauru Reg. Div

Expansion Planning

New Businesses

Engineering

Project Execution

Operating Officer

Strategic Planning

Organization & Quality

CEO

Internal Auditors

Communication

InformationTecnology

Real Time Operations

Transmission Development

Jupiá Reg. Div.

Maintenance Planning

Contracts


53.64%10.77%

35.59%

Preferred Shares – TRPL4(58% of total)

89.40%

9.85% 0.75%

Common Shares - TRPL3(42% of total)

ISA Capital do Brasil

Eletrobrás

Other

37.46%

35.29%

27.25%

Eletrobrás

Secretaria da Fazenda

Other

ISA Capital do Brasil

Eletrobrás

Other

CTEEP and its Shareholder’s Breakdown

Total Paid Up Capital


Agenda


Subsequent Events

Company Update

1Q09 Results


1Q09 OPERATING REVENUE BREAKDOWN

( R$ million)

466.786

483.3244.4682.1661.3023.2234.625 26.138

-24.276

-1.109

Resolução 670 RBNI PV RB Saldo deFronteira

EncargosRegulatórios

Diferença deConcatenação

Baixa PA xAcordo

RAP IEMG Outras Receitas ReceitaOperacional

1T09

RatifyingResolution

670

Revenue from the

basic

network

Basic Network Variable Parcel

Result of the Frontier

Surplus –Deficit

recorded in the period

Result of the

agreement signed with

the

distributors

RAP from the IEMG

subsidiary

Rents and Rendering of Services

OperatingRevenue

Regulatory

Charges

Difference of tariff

readjustments at the

Distributors

466,786

483,3244,4682,1661,3023,2234,625 26,138

-24.276

-1.109


375.6 380.0419.9

(250.0)

100.0

450.0

800.0

1Q08 4Q08 1Q09

+11.9%

+11.8%

Net Revenue

Revenue linked to uptime of the Company’s assets

1Q09/1Q08 main changes:

Readjustment of 11.5% in the RAP for 2008/2009 cycle following the publication of ANEEL Ratifying Resolution of July 2008; and

R$2,2 million resulting from the startup of the IEMG subsidiary.

(R$ million)


Cost of Operating Expenses

1Q09/1Q08 main changes:

Recognition in 1Q08 of the complement of the expect gain in the retirement and pension plansamounting to R$7.4 million; and

The affects of the annual wage bargaining agreement of 6.8% in 2Q08.

(R$' 000) 1Q08 4Q08 1Q09Change %

4Q08/1Q09Change %

1Q08/1Q09

Personnel 19,401 23,925 30,840 28.9% 59.0%

Material 1,486 3,537 4,474 26.5% 201.1%

Services 15,525 26,901 19,432 -27.8% 25.2%

Depreciation 44,184 45,513 46,576 2.3% 5.4%

Other 6,031 11,840 10,449 -11.7% 73.3%

Total 86,627 111,716 111,771 0.0% 29.0%

Cost of Services and General and Administrative Expenses


333.2 313.8354.7

88.70% 82.58% 84.47%

(50.0)

300.0

650.0

1,000.0

1Q08 4Q08 1Q09 -200.00%

-150.00%

-100.00%

-50.00%

0.00%

50.00%

100.00%

150.00%

Ebitda Ebitda Margim

+13.0%

+6.5%

Strong Cash Generation

EBITDA

(R$ million)


Financial Results

Excluding interest on shareholders’ equity from financial expenses, the financial result would have reported a positive variation of R$ 8.4 million in the quarter.

Financial Income (R$' 000) 1Q08 4Q08 1Q09Change %

4Q08/1Q09Change %

1Q08/1Q09

Income from financial investments 4,329 2,858 2,737 -4.2% -36.8%

Interest on assets 1,061 926 959 3.6% -9.6%

Amortization of negative goodwill 4,246 4,246 4,246 0.0% 0.0%

Net monetary variations 1,700 788 29,142 3598.2% 1614.2%

Other 1,395 (1,106) 189 -117.1% -86.5%

Total Financial Income 12,731 7,712 37,273 383.3% 192.8%

Financial Expenses (R$' 000) 1Q08 4Q08 1Q09Change %

4Q08/1Q09Change %

1Q08/1Q09

Interest on own capital (61,531) (59,668) (63,236) 6.0% 2.8%

Interest on liabilities (13,861) (18,244) (17,022) -6.7% 22.8%

Goodwill amortization (4,806) (7,208) (7,208) 0.0% 50.0%

Charges on RGR (279) (313) (279) -10.9% 0.0%

Other (2,053) (811) (7,347) 805.9% 257.9%

Total Financial Expenses (82,530) (86,244) (95,092) 10.3% 15.2%

Financial result, net (R$' 000) (69,799) (78,532) (57,819) -26.4% -17.2%


Net Income

223.1186.3

228.0

(50.0)

300.0

1Q08 4Q08 1Q09

+22.4%

+2.2%

(R$ million)


Multi-Year Investment Plan 2009/2011

509.2800.7868.5GRAND TOTAL

250.8295.5320.7TOTAL NEW COMPANIES (Subsidiaries)

016.521.3IESul

250.8151.830.2IEMadeira

0127.2213.4Pinheiros

0055.8IENNE

258.4505.2547.8CTEEP - TOTAL

0057.7Telecom

7.87.47.1Capitalization (labor)

29.43527.1PMIS

61.279.645.4PMT

0.21.343.3New Connections

13.329.661.9Type 2 Upgrades

134.2340.5291.1Type 1 Upgrades

12.311.814.2Corporatie

201120102009(in R$ million)

Type 1 and 2 Upgrades: Investments for serving the Basic Network. Generate additional RAP.New Connections: Investments exclusively to serve consumers. Generate additional RAP.PMTs and PMIs: Investments required for maintenance of the quality of the system and minimization of the impact of the variable parcel. Telecom: Investments in modernization of the telecommunication system through the substitution of analog for digital system.Other Companies: Capital injection by CTEEP in subsidiaries proportional to its shareholding stake.


Debt Profile

Optimization of Capital Structure

CDI28.1%

BNDES TJLP71.7%

* consolidated

670.4Net Debt

186.4( - ) Cash and Equivalents

856.8Total Debt

Debt – 1Q09*

Pré0.2 %

(R$ million)


Subsequent Events

1Q09 Results

Company Update




Appreciation and liquidity reflect market confidence

50,349 trades in 1Q09. Growth of 76.0% comparedwith 1Q08;

Present on all trade days;

Component of Ibovespa.

Jan Fev Mar

+ 15.36%

+ 9.43%+ 8.99%

TRPL4 X IEE X IBOV(1Q09)

IEEIBOV

TRPL4


Corporate Rating

“...CTEEP's ratings reflect the company's strong financial profile, characterized by reduced leverage, cash generation from stable and predictable operations as well as the low risk of the businesses ".

Fitch Ratings


Agenda


1Q09 Results

Company Update

Subsequent Events


Auction no 01/2009 - ANEEL

Result will allow CTEEP to increase its revenue by R$40.3 million over next years

Capex ANEEL

RAP Auction

RAP Bid

(R$ MM) (R$ MM) (R$ MM) Stake Capex (R$ milion)

RAP (R$ million)

C 987 380 50.42 42.69 15.3% 25.5% 96.9 10.89D 487 210 27.82 24.40 12.3% 25.5% 53.6 6.22E 348 302 39.32 27.52 30.0% 5% 15.1 1.38I 11 195 24.51 21.80 11.0% 100% 195.0 21.80

Total 1833 1087 142.07 116.41 - - 360.6 40.28

Lot Extension (km)

DiscountCTEEP


2nd Commercial Papers Issue

Bookbuilding process through ICVM 476

Rating to the issue: F1+Bra

Offering Total Ammount: R$ 200 million

Remuneration: 119.5% of CDI

Maturity: 360 days

Destination: capital injection by CTEEP in its subsidiaries


Disclaimer

All statements contained herein with regard to the Company’sbusiness prospects, projected results and the potential growthof its business aremere forecasts, based on local managementexpectationsin relation to the Company’s future performance.

Dependent as they are on market shifts and on the overallperformance of the Brazilian economy and the sector

and international markets, such estimatesare subject to changes.

Cteep apresentacao 1_q09_v_21maio2009_english_final

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