Fact Sheet 3Q12
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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
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