cpfl fact sheet 3q13 eng

4
NOTES: (1) Controlling shareholders; (2) Includes the 0.1% stake of Camargo Corrêa S.A.; (3) Includes the 0.2% stake of Petros and Sistel pension funds; (4) Termoparaíba and Termonordeste Thermoelectric Facilities; (5) CPFL Energia owns a 58.8% indirect interest in CPFL Renováveis through CPFL Geração. Fact Sheet 3Q13 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 is the largest privately-owned group in the Brazilian electric industry. With more than 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 company 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. Corporate Profile

Upload: cpfl-energia

Post on 17-Mar-2016

226 views

Category:

Documents


0 download

DESCRIPTION

CPFL Energia's Fact Sheet is a quarterly updated material which contains the main informations about the Company, such as financial performance, energy sells, dividends and others.

TRANSCRIPT

Page 1: CPFL Fact Sheet 3Q13 ENG

NOTES:(1) Controlling shareholders;(2) Includes the 0.1% stake of Camargo Corrêa S.A.;(3) Includes the 0.2% stake of Petros and Sistel pension funds;(4) Termoparaíba and Termonordeste Thermoelectric Facilities;(5) CPFL Energia owns a 58.8% indirect interest in CPFL Renováveis through CPFL Geração.

Fact Sheet 3Q13

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 is the largest privately-owned group in the Brazilian electric industry. With more than 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 company 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.

Corporate Profile

Page 2: CPFL Fact Sheet 3Q13 ENG

CPFL has distributed dividends around the entire net income since its IPO, reaching the mark of R$ 10.6 billion distributed.

Declaration of dividend of 1H13: R$ 363 million | 0.38/share

1) Considering last two half years’ dividend yield 2) Refers to declared dividend. Payment in the next half year. 3) Considers share price adjusted for reversal stock split and simultaneous split of shares on June 29, 2011 (not adjusted per dividends).

486748 758

640456

363

655722498

401

140

842719 774

602 572606612

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% 4.6% 3.9%

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 22.78 21.11

16.51

Dividends and Dividend Yield

Declared Dividends 2 (R$ million)

Dividend Yield 1

(last 12 months)Average Closing Price3

CPFE3 (R$/ON)

2H10 1H11 1H122H11 2H12 1H132H04 2H09 1H102H062H051H05 1H07 2H07 1H08 1H092H081H06

2

Dividends

Operations

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)

3 TPPs – Fuel Oil2 (PB), 1 (SP)G

ENER

ATIO

N

1

2

3

4

5

6

7

8

9

On October 01, 2013, interim dividends related to 1H13 were paid to holders of common shares traded on the São Paulo Stock Exchange (BM&FBovespa). The total declared amount was R$ 363 million, equivalent to R$ 0.377282126 per share.

On October 8, 2013, interim dividends related to 1H13 were paid to holders of ADRs, traded on the New York Stock Exchange (NYSE). The paid amount was equivalent to US$ 0.3301 per ADR.

CPFL Energia has presented a payout ratio close to 95% since its IPO, respecting the constitution of the legal reserve of 5%.

The 1H13 dividend yield, calculated on the average closing prices in the period (R$ 21.11 per share) is 1.8% (3.9% in the last 12 months).

10

11

12

Page 3: CPFL Fact Sheet 3Q13 ENG

Shares performance 9M13

BM&FBovespa -5.6% -14.1%

IEE

-6.1%

NYSE

DJIACPL DJBr20

IBOVCPFE3

-13.5%

16.9%

-8.5%

(with earnings adjustment)

3,4353,367

21Q3 31Q3

-2.0%

3,3743,568

21Q3 31Q3

+5.7%

937

1,065

21Q3 31Q3

+13.6%1,175

1,012

21Q3 31Q3

-13.9%-38.6%

-0.4%

356 355

21Q3 31Q3

460

282

21Q3 31Q3

IFRS

Adjusted Income Statement3

Net Revenue1 (R$ million) EBITDA2 (R$ million) Net Income (R$ million)

3Q12 3Q13

Total Energy Sales - GWh1

13,904

3,522

9,795 10,084

+4.7%

+1.2%

+53.5%

+3.0%

14,551

3,566

901587

Sales by Consumer Class – 3Q13

15.4% Industrial

30.4% TUSD

26.2% Residential (+0.8 p.p.)

(-0.2 p.p.)

(+0.9 p.p.)

(-1.3 p.p.)

(-0.2 p.p.)

13.8% Commercial

14.1% Others

.

Commercialization/ Conventional Generation3

Captive Market (Distribution)

CPFL Renováveis2

3Q12 3Q13

Total Energy Sales - GWh1

13,904

3,522

9,795 10,084

+4.7%

+1.2%

+53.5%

+3.0%

14,551

3,566

901587

Sales by Consumer Class – 3Q13

15.4% Industrial

30.4% TUSD

26.2% Residential (+0.8 p.p.)

(-0.2 p.p.)

(+0.9 p.p.)

(-1.3 p.p.)

(-0.2 p.p.)

13.8% Commercial

14.1% Others

.

Commercialization/ Conventional Generation3

Captive Market (Distribution)

CPFL Renováveis2

CPFE3 (R$) 1 CPL (US$) 1

In 09/30/2013 19.39 17.25 Maximum - 52 weeks 23.23 22.78 Minimum - 52 weeks 18.17 15.79 Total Stocks2 962,274,260Mkt Cap2 - R$ billion 18.7 Mkt Cap2 - US$ billion 8.4 Exchange - PTAX Sale 2.23

3

Market

Note: 1) Disregard CCEE and sales to related parties. 2) Considers 100% of CPFL Renováveis (IFRS). 3) Take into account provision adjustments of 42 GWh in 3Q12. Including Foz do Chapecó, Baesa, Enercan and Epasa, which according to IFRS 11 rule, are accounted by the equity method.

Note: In parentheses, the variation in percentage points from 3Q12 to 3Q13.

1) Financial covenants criteria. 2) LTM recurring EBITDA (covenants criteria).

Note: 1) Disregard construction revenues; 2) EBITDA is calculated from the sum of net income, taxes, financial result and depreciation/amortization 3) Adjusted figures consider the regulatory assets and liabilities and exclude the non-recurring items.

1) Financial debt (+) private pension fund (-) hedge (considering proportional consolidation).

1) With earnings adjustment2) Date: Sep/2013 Source: Economatica

Financial Performance

Stock market performance

Gross Debt Breakdown 3Q131

Adjusted Net Debt/Adjusted EBITDA2 (x)

Net debt (R$ billion)1

Adjusted Net Debt

12.6 12.5

2012 1Q13 2Q13 3Q13

2.89 3.03

12.2

3.53

12.6

3.42

64% CDI 27% TJLP

7% Pre�xed (PSI) 2% IGP

Gross Debt Breakdown 3Q131

Adjusted Net Debt/Adjusted EBITDA2 (x)

Net debt (R$ billion)1

Adjusted Net Debt

12.6 12.5

2012 1Q13 2Q13 3Q13

2.89 3.03

12.2

3.53

12.6

3.42

64% CDI 27% TJLP

7% Pre�xed (PSI) 2% IGP

Page 4: CPFL Fact Sheet 3Q13 ENG

Sustainability andCorporate Responsibility

4

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

Fact_Sheet_PORTUGUES_1T11_impresso.indd Sec2:1 07.07.11 15:12:29