Fact Sheet 3Q12

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CPFL Fact Sheet is issued quartely, published by Investor Relations area.

Transcript of Fact Sheet 3Q12

  • Corporate ProfileCPFL Energia is a publicly held holding company

    made up of companies in the distribution, generation and sales of electric power and value-added services segments. It the largest privately-owned group in the Brazilian electric industry. With 100 years of history behind it and a strategic orientation aligned with societys expectations, the Group is grounded in sound ethical principles that reflect its commitment to excellence and corporate sustainability. Its companies

    are considered benchmarks of management, quality and operational efficiency.

    Following its Initial Public Offer (IPO) in September 2004, CPFL Energia became the first private sector firm in Brazil to simultaneously trade its shares on Bovespas Novo Mercado (New Market) and the New York Stock Exchange (ADR Level III), which requires implementation of the highest standards of corporate governance.

    Fact Sheet 3Q12

    (1) Controlling Shareholders (2) Includes a 0.1% stake in Camargo Correa, S.A.; (3) TPPs Termoparaba and Termonordeste;(4) CPFL Energia owns a 63.0% indirect stake in CPFL Renovveis through CPFL Gerao with 35.5% and CPFL Brasil with 27.5%

    DIS

    TRIB

    UTI

    ON

    COMM

    ERCI

    ALIZ

    ATIO

    N

    GEN

    ERAT

    ION

    RENE

    WAB

    LESSE

    RVI

    CES

  • Dividends and Dividend Yield

    CPFL distributes 100% of net income in 1H12 as dividendsR$ 640 million | 0.67/share

    1) Refers to dividends declared. Payment in the subsequent semester 2)Dividend yield in the past two semesters 3) Considers the adjusted price for the reverse split and simultaneous split of stock on 29/Jun/11 (without adjustment for dividends).

    Declared Dividends 1 (R$ million)

    Dividend Yield 2

    (last 12 months)Average Closing Price

    CPFE3 (R$/ON)3

    486

    2H10 1H11 1H122H11

    748 758 640

    2H04 2H09 1H10

    655722

    2H06

    498

    2H05

    401

    1H05

    140

    1H07

    842

    2H07

    719 774

    1H08 1H09

    602 572

    2H08

    606612

    1H06

    7.9%

    3.7%

    9.1% 8.7% 9.6%10.9% %6.8%7.9

    7.6% 7.3%6.5% 6.9% 6.0% 6.1%7.1%7.6%

    8.29 9.4311.67

    15.02 14.1315.87 17.99 18.05

    18.4416.69 15.7720.18 22.05 21.95 26.30

    16.51

    On September 28, 2012, dividends referring to the first semester of 2012 (1H12) were paid out, in the amount of R$ 640 million, equivalent to R$ 0.67 per share. This represents 100% of CPFLs net profits, an amount higher than established by our minimum payment policy of 50% of net profits in a semiannual basis.

    2

    Activities Map

    Dividends

    COM

    MER

    CIAL

    IZAT

    ION

    Nect Servios

    DIS

    TRIB

    UTI

    ON

    CPFL Gerao

    HPP Luis Eduardo Magalhes

    HPP Serra da Mesa

    HPP Foz do Chapec

    HPP Campos Novos

    HPP Barra Grande

    Ceran Complex HPP Monte Claro HPP Castro Alves HPP 14 de Julho

    35 SHPs 17 (SP), 8 (MG), 1 (MT), 5 (SC), 4(RS)

    33 Wind Farms 8 (CE), 21 (RN) and 4 (RS)

    8 Biomass 5 (SP), 1 (RN), 1 (MG) and 1 (PR)

    1 Solar Plant

    9 SHPs7 (SP), 2 (MG)

    2 TPPs Fuel Oil2 (PB)G

    ENER

    ATIO

    N

    1

    2

    3

    4

    5

    6

    7

    8

    9

    10

    11

    12

  • Captive Market(Distribution)

    CPFL Renovveis

    3Q11 3Q12

    Total Energy Sales GWh1

    13,402

    3,191

    10,070 9,795

    +6.2%

    +10.3%

    -2.7%

    14,237

    3,519

    924142

    Sales by consumer class in the concession area 3Q12

    17% Industrial

    29% TUSD

    25% Residential

    14% Commercial

    14% Others

    .

    Commercialization / Generation(Outside the Group)

    Captive Market(Distribution)

    CPFL Renovveis

    3Q11 3Q12

    Total Energy Sales GWh1

    13,402

    3,191

    10,070 9,795

    +6.2%

    +10.3%

    -2.7%

    14,237

    3,519

    924142

    Sales by consumer class in the concession area 3Q12

    17% Industrial

    29% TUSD

    25% Residential

    14% Commercial

    14% Others

    .

    Commercialization / Generation(Outside the Group)

    CPFE3 (R$) CPL (US$)

    On 9/28/2012 22.39 21.91Maximum 52 weeks1 29.30 32.94Minimum - 52 weeks1 19.98 20.84No. of shares2 962,274,260Mkt Cap2 R$ billion 21.5Mkt Cap2 US$ billion 10.6Exchange PTAX Sale 2.0306

    3

    Market

    1) Excludes related party sales and transactions in the Electric Energy Commercialization Chamber (CCEE). Considers Furnas (Semesa) and other generation sales.

    1) Calculation of the net debt in step with the calculation methodology of the financial covenants; Recurring EBITDA last 12 months.

    1) Financial debt (+) private pension entity (-) hedge

    1) Not adjusted for dividends 2) As of september 28/2012

    Financial Performance

    Share Information1 September 28, 2012

    Reported

    Net Revenue (R$ million)

    2,978 956

    1,044 3793,454321

    EBITDA (R$ million) Net Income (R$ million)

    11Q3 21Q3 11Q3 21Q3 11Q3 21Q3

    +9.2% -15.2%+16.0%

    Debt Breakdown 3Q121

    Adjusted net debt/EBITDA

    Adjusted net debt (R$ billions)

    Debt Leverage1

    7.610.0 10.1

    2010 2011 1Q12 2Q12 3Q12

    2.422.73 2.67

    11.8

    2.76

    3,45x: Considering

    the IFRS accounting criteria

    64% CDI 27% TJLP

    6% Prexed 3% IGP

    12.7

    2.94

    Share price performance 3Q12 (adjusted per dividends)

    BM&FBovespa -9.3%8.9%

    IEE

    -15.0%

    NYSE

    DJIACPL DJBr20

    IBOVCPFE3

    -9.8%

    4.3%2.0%

    Debt Breakdown 3Q121

    Adjusted net debt/EBITDA

    Adjusted net debt (R$ billions)

    Debt Leverage1

    7.610.0 10.1

    2010 2011 1Q12 2Q12 3Q12

    2.422.73 2.67

    11.8

    2.76

    3,45x: Considering

    the IFRS accounting criteria

    64% CDI 27% TJLP

    6% Prexed 3% IGP

    12.7

    2.94

  • Sustainability andCorporate Responsibility

    4

    INVESTOR RELATIONSCPFL ENERGIA

    Rod Mogi Mirim, Km 2.5 |

    CEP 13.088-900 |Campinas, So Paulo

    Tel: (19) 3756-6083Fax: (19) 3756-6089www.cpfl.com.br/ir

    [email protected]

    Corporate Governance

    CPFL Energia is recognized for its pioneering actions and constant improvements to its governance systems, based on the principles of transparency, fairness, accountability and corporate responsibility. The Company has been a member of the Company Circle since its creation in 2005, an organization that brings together corporations from a number of Latin American countries that demonstrate leadership in adopting the best corporate governance practices:

    Listing on the market segments that require the highest corporate governance practices Novo Mercado of the BM&FBovespa and Level III ADRs of the NYSE;

    Certification of internal controls by the managers (CEO and CFO) and the independent auditors, pursuant to the Sarbanes Oxley Act (SOX);

    Board of Directors with seven members, one being independent;

    Fiscal Council with responsibilities of an Audit Committee, in compliance with SOX rules;

    Three Board of Directors Advisory Committees: Personnel Management, Related Parties and Management Procedures;

    Plan of Succession for the Board of Executive Officers and the CPFL Groups main executives;

    Code of Ethics and Corporate Conduct;

    Corporate Gover-nance Guidelines ap-plicable to CPFL Ener-gia and its subsidiaries;

    Dividends and Securities Trading Policies;

    Corporate Risk Management Policy and Standard Assessment of Internal Controls, approved by the Board of Directors;

    Internal controls of the Board of Directors, the Fiscal Council and the Committees;;

    Annual Report in accordance with the guidelines of the Global Reporting Initiative (GRI);

    Whistle-blowing channels for receiving complaints and/or allegations concerning financial information and Code of Ethics violations (SOX);

    Annual Self-Evaluation of the members of the Board of Directors and the Fiscal Council;

    Board of Directors members certified by the Brazilian Institute of Corporate Governance (IBGC);

    Dissemination of a General Shareholders Meetings Participation Manual, with the possibility of designating proxies without cost to represent the minority shareholders;

    Corporate Governance Portal offering full access of information to the members of the Board of Governors and Fiscal Council.

    The decisions taken by CPFL Energia in its businesses, operations and rela-tionships are guided by a wide-ranging and systemic point of view that takes into account economic, social and environmental variables as a whole.

    It is the Companys understanding that in order to be sustainable and to gua-rantee, simultaneously, the permanence of its businesses and the generation of value for stakeholders, the balance between these three factors must be pursued and based on ethics and transparency. Towards this end, CPFL Energia believes that its role is much more than just generating, distributing and selling energy.

    Its proposal is to share its learned knowledge and participate in the group of leading organizations in the transition to a New Economy, a scenario whose attributes include the fact of being green, inclusive and responsible.

    Learn more about CPFL Energias practices through the following websites:

    www.cpfl.com.br/sustentabilidade, www.cpflcultura.com.br, www.cpfl.com.br/etica

    A CPFL Energia uma holding de capital aberto formada por empresas que atuam nos segmentos de distribuio, gerao e comercializao de energia eltrica e servios de valor agregado