Fact Sheet 3Q12

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Corporate Profile CPFL 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 society’s 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 Bovespa’s 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 Termoparaíba and Termonordeste; (4) CPFL Energia owns a 63.0% indirect stake in CPFL Renováveis through CPFL Geração with 35.5% and CPFL Brasil with 27.5% DISTRIBUTION COMMERCIALIZATION GENERATION RENEWABLES SERVICES

description

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

Transcript of Fact Sheet 3Q12

Page 1: 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 society’s 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 Bovespa’s 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 Termoparaíba and Termonordeste;(4) CPFL Energia owns a 63.0% indirect stake in CPFL Renováveis through CPFL Geração 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

Page 2: Fact Sheet 3Q12

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 758640

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%7.97.6% 7.3%6.5% 6.9% 6.0% 6.1%7.1%7.6%

8.299.43

11.6715.02 14.13

15.87 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 CPFL’s net profits, an amount higher than established by our minimum payment policy of 50% of net profits in a semiannual basis.

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Activities Map

Dividends

COM

MER

CIAL

IZAT

ION

Nect Serviços

DIS

TRIB

UTI

ON

CPFL Geração

HPP Luis Eduardo Magalhães

HPP Serra da Mesa

HPP Foz do Chapecó

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

Page 3: Fact Sheet 3Q12

Captive Market(Distribution)

CPFL Renováveis

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

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Commercialization / Generation(Outside the Group)

Captive Market(Distribution)

CPFL Renováveis

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

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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% Pre�xed 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% Pre�xed 3% IGP

12.7

2.94

Page 4: Fact Sheet 3Q12

Sustainability andCorporate Responsibility

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INVESTOR RELATIONSCPFL ENERGIA

Rod Mogi Mirim, Km 2.5 |

CEP 13.088-900 |Campinas, São 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 Group’s 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 Company’s 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 Energia’s practices through the following websites:

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

A CPFL Energia é uma holding de capital aberto formada por empresas que atuam nos segmentos de distribuição, geração e comercialização de energia elétrica e serviços de valor agregado, formando o maior grupo privado do setor elétrico brasileiro. Com quase 100 anos de história e orientada por direcionadores estratégicos alinhados com as expectativas da sociedade, o Grupo se apoia em sólidos princípios éticos que reiteram seu compromisso com a excelência e a sustentabilidade empresarial.

Suas empresas são consideradas referências em gestão, qualidade e e� ciência operacional. Com a Oferta Pública Inicial (IPO), realizada em setembro de 2004, a CPFL Energia tornou-se a primeira empresa privada nacional a negociar suas ações, simultaneamente, no Novo Mercado Bovespa e na Bolsa de Nova Iorque – ADR Nível III – que exigem a implementação dos mais elevados padrões de governança corporativa.

1 Inclui 0,1% de ações da empresa Camargo Corrêa S.A.2 Acionistas Controladores3 Compreende 13 empresas: Santa Clara I, II, III, IV, V, VI, Eurus VI, Campo dos Ventos, I, II, III, IV e V e Eurus V.

Free Float25,7% %6,21%0,13 30,7%

100%100%

100%

100%100%

100%

100%

100%

100%

65%

25,01%

48,72%

100%

100%

51%

51%

100%

59,93%

5,94%

99,95%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Investco

Paulista Lajeado

Parques Eólicos3

Chapecoense Geração S.A.

Reconhecida como uma das empresas com melhores práticas de governança corporativa da América Latina, a CPFL Energia atua para aprimorar constantemente o seu sistema de governança, fundamentada nos princípios da transparência, equidade, prestação de contas e responsabilidade corporativa. Seus diferenciais são:

Diretrizes de Governança Corporativa aplicáveis à CPFL Energia;

Código de Ética e de Conduta Empresarial;

Política de Gestão Corporativa de Riscos e Norma de Avaliação de Controles Internos aprovadas pelo Conselho de Administração;

Políticas de Dividendos e de Negociação de Valores Mobiliários;

atório Anual em consenso com as diretrizes da Global Reporting Initiative (GRI);

Conselho de Administração composto por sete membros, sendo um conselheiro independente;

Conselho Fiscal com atribuições de Comitê de Auditoria em atendimento às regras da SOX;

Três Comitês de Assessoramento ao Conselho de Administração (Gestão de Pessoas, Partes Relacionadas e Processos de Gestão);

Autoavaliação anual dos membros do Conselho de Administração e do Conselho Fiscal;

Plano de Sucessão da Diretoria Executiva e dos principais executivos do Grupo CPFL;

independentes ;

Canais de denúncia para recebimento de reclamações e/ou denúncias relativas a

Listagem nos segmentos de mercado que requerem práticas mais avançadas de governança corporativa (Novo Mercado e ADRs nível III);

de 30,7%;

Manual para participação em Assembleias;

Portal de Governança;

Regras de funcionamento do Conselho de Administração, Comitês e Conselho Fiscal estabelecidas em Regimento Interno.

Relações com InvestidoresCPFL Energia – Rodovia Campinas-Mogi Mirim, km 2,5 | CEP 13088-900 | Campinas | SP

.com.br

A CPFL Energia busca criar valor de forma equilibrada aos diferentes públicos com os quais interage, por meio de iniciativas e programas fundamentados em sólidos

nos relacionamentos da empresa com todos os seus stakeholders.

Para isso, a empresa desenvolveu critérios que direcionam seus esforços em quatro principais frentes estratégicas:

Acesse o portal e conheça com detalhes todos os programas:

Rating AA+

EFPC 3 (R$) CPL (US$)4 oãça rop oçerP 6,39 87,41

Máxima – 52 semanas 46,39 87,41 Mínima – 52 semanas 34,84 57,31 Valor de mercado - R$ bilhões 22,3 Valor de mercado - US$ bilhões 13,7

Número de ações2 481.137.130 Taxa de conversão3 1,6287

31/03/2011

1Sem ajuste por proventos2Data base: 31/mar/20113Dólar Ptax Venda

Perfomance das ações - 1T11 (com proventos)

Bovespa-1,0%

12,6%

IEE CPFE3

9,7%

Nyse

6,4%

13,8%

3,1%

DJIA CPLDJBr20

Contribuição para a Sustentabilidade de Projetos, Instituições e Comunidades.

Interação com grupos multissetoriais (Governos, Empresas, ONGs, Universidades e Institutos de Pesquisas).

Promoção do Diálogo e Comunicação para a Sustentabilidade.

Participação ativa em grupos intersetoriais que visam o aprimoramento de políticas públicas e o desenvolvimento de ferramentas para a gestão da sustentabilidade.

IBOV

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