presentation 1q13

Your energyINSPIRES US1

1Q13 Results PresentationSão Paulo, May 16 2013


Capital Market Performance

1Q13 Results

CTEEP


CTEEP Profile

A estratégia da CTEEP é baseada no crescimento sust entável com foco na contínua criação de valor� 13,724 Km of transmission lines;

� 19,189 Km of circuits;

� 1,952 Km of optic fiber cables

� 106 substations.

Responsible for the annual

transmission of 30.0% of all

electricity produced in the country,

60% of the energy consumed in the

Southeast Region and nearly 100%

in the state of São Paulo;

The largest private sector concessionaire operating a public

utility service for the transmission of energy in Brazil,

controlled by ISA, one of the largest energy transmission

groups in Latin America.


Expansion of national Territory

A estratégia da CTEEP é baseada no crescimento sust entável com foco na contínua criação de valor

� Largest Non-stop Transmission

Lines under construction in the

world (IEMadeira)

� Starting in the continuous current

technology

� Relevant Interconnection Projects

in the North of Brazil

� Major supporting Works in the

South and Southeast of Brazil

In Operating

In Construction

EVRECY*

Acquisition of Assets


37.8%

35.2%

6.1%4.3%

16.6%

ISA Capital do BrasilEletrobrasState Government of São PauloVinci Ltda

53.9%

10.6%7.5%

28.0%

EletrobrasState Government of São PauloVinci LtdaOthers

89.5%

9.8%

0.7%

ISA Capital do Brasil Eletrobras Others

Preferred Shares– TRPL4(58% of the total)

Ordinary Shares- TRPL3(42% of the total)

Total Capital Stock

Shareholder Breakdown - 1Q3



1Q13 Results

CTEEP


Results - Company

1Q12 1Q13 Var % 1Q12x1Q13

Gross Operating Revenue 514.5 195.9 (61.9%)Revenue from Construction Services 38.3 24.5 (36.0%)Revenue from Operational and Maintenance Services 156.7 139.1 (11.2%)Financial Revenue 314.1 27.0 (91.4%)Others 5.3 5.3 (0.5%)Deductions from Operating Revenue (71.8) (29.6) (58.8%)Net operating revenue 442.6 166.3 (62.4%)Other General and Administrative Expenses (153.7) (153.3) (0.3%)Other Operating (Expenses) - Income - ex goodwill 0.6 14.5 2337.8%Equity 33.4 24.0 (28.0%)EBITDA 322.9 51.6 (84.0%)% Margem EBITDA 73.0% 31.0% -57.5%Depreciation (8.5) (9.3) 9.7%EBIT 314.5 42.3 (86.6%)Financial Results (51.3) 43.6 (184.9%)Lucro antes do IR & CSLL 263.1 85.9 (67.4%)IR & CSLL (58.0) (14.9) (74.4%)Net Income 205.1 71.0 (65.4%)

Results (R$ million)

Company


Results - Consolidated

1Q12 1Q13 Var % 1Q12x1Q13

Gross Operating Revenue 548.1 234.1 (57.3%)Revenue from Construction Services 61.3 46.5 (24.1%)Revenue from Operational and Maintenance Services 157.6 143.7 (8.8%)Financial Revenue 323.9 38.8 (88.0%)Others 5.3 5.1 (4.8%)Deductions from Operating Revenue (54.6) (33.2) (39.1%)Net operating revenue 493.5 200.8 (59.3%)Other General and Administrative Expenses (175.6) (179.2) 2.0%Other Operating (Expenses) - Income - ex goodwill 0.6 14.5 2338.1%Equity 11.5 20.8 0.0%EBITDA 330.0 56.9 (82.7%)% Margem EBITDA 66.9% 28.4% -57.6%Depreciation (8.5) (9.3) 9.7%EBIT 321.5 47.6 (85.2%)Financial Results (55.9) 39.0 (169.8%)Lucro antes do IR & CSLL 265.6 86.7 (67.4%)IR & CSLL (60.5) (15.7) (74.1%)Net Income 205.1 71.0 (65.4%)

Results (R$ million)

ConsolidatedConsolidation by equity (revision of CPC’s 19 and 32)


Gross Operating Revenue

(R$ million)

Company Consolidated

38.3 24.5

156.7 139.1

314.1

27.0

5.3

5.3

514.5

195.9

1Q12 1Q13Construction Operation and Maintenance Financial Others

61.3 46.5

157.6 143.7

323.9

38.8

5.3

5.1

548.1

234.1

1Q12 1Q13Construction Operation and Maintenance Financial Others


Costs and Expenses


1Q12 1Q13Var %

1Q12x1Q131Q12 1Q13

Var % 1Q12x1Q13

Personnel (59.0) (69.2) 17.3% (60.2) (71.0) 18.0%

Material (25.6) (20.0) (21.6%) (38.7) (41.7) 7.8%

Services (45.7) (43.0) (5.8%) (52.0) (45.1) (13.3%)

Leases and rentals (3.5) (3.5) (1.3%) (3.6) (3.5) (1.9%)

Contingencies (5.6) (7.4) 32.4% (5.6) (7.4) 32.4%

Others (15.6) (12.0) (23.1%) (16.9) (12.3) (27.4%)

Total (155.0) (155.1) 0.1% (176.9) (181.0) 2.3%

ConsolidatedCost and Expenses (R$ '000)

Company


Ebitda and Ebitda Margin


(R$ million)

1Q12 1Q13 1Q12 1Q13

Net Income 205.1 71.0 205.1 71.0

Income tax and social contribuition 58.0 14.9 60.5 15.7

Financial Results 51.3 -43.6 55.9 -39.0

Leases and rentals/Amortization 8.5 9.3 8.5 9.3

EBITDA 322.9 51.6 330.0 56.9

EBITDA Margin 73.0% 31.0% -41.9 p.p 66.9% 28.4% -38.5 p.p

Var % 1Q12x1Q13

CompanyEBITDA - ICVM 527 Var %

1Q12x1Q13

Consolidated

(65.4%)

(74.4%)

(184.9%)

9.7%

(84.0%)

(65.4%)

(74.1%)

(169.8%)

9.7%

(82.7%)


Financial Result

1Q12 1Q13Var %

1Q12x1Q131Q12 1Q13

Var % 1Q12x1Q13

Financial Income 44.8 93.4 108.5% 45.3 93.7 107.0%

Financial Expenses (96.1) (49.8) (48.2%) (101.2) (54.6) (46.0%)

(51.3) 43.6 184.9% (55.9) 39.0 169.8%

Financial Result (R$'million)



Net Income


(R$ million)

205.1

71.0

1Q12 1Q13


Debt


FUNDING CHARGES MATURITY 4Q12 1Q13

BNDES

TJLP + 2,3% ano 15/06/15 234,681 211,365

TJLP + 1,8% ano 15/06/15 140,798 126,742

Comercial Papers

6ª Emissão - CTEEP 104,9% CDI ano 05/01/13 433,873 0

Debêntures

1ª Série - CTEEP CDI + 1,3% ano 15/12/14 325,959 332,39 9

2ª Série - CTEEP IPCA + 8,1% ano 15/12/17 70,915 73,922

Série Única - CTEEP 105,5% do CDI ano 02/07/14 726,476 738,892

Banks

USD + 4% ano * 26/04/13 132,309 130,723

USD + 2,1% ano ** 21/10/13 177,318 175,084

Eletrobras 8% ano 15/11/21 340 327

Arrendamento Mercantil - - 5,048 4,625

TOTAL CTEEP: 2,247,717 1,794,079

BNDES

IEMG TJLP + 2,4% ano 15/04/23 52,513 51,253

TJLP + 2,6% ano 15/05/26 47,758 46,856

5,5% a.a 15/01/21 80,152 78,840

TJLP + 1,9% ano 15/05/26 49,801 48,888

TJLP + 1,5% ano 15/05/26 43,038 42,235

TOTAL SUBSIDIARIES 273,262 268,072

Total Consolidated (R$ mil) 2,520,979 2,062,151

SERRA DO JAPI

CTEEP

CTEEP

PINHEIROS

29.4%

52.0%

3.6% 15.0%

Distribuition of debt burdens

TJLP CDI IPCA Others

29.4%

55.5%

14.8%

Distribuition ofdebt contracting

BNDES Comercial Papers Debêntures Banks


Breakdown of Net Debt

4Q12 1Q13 4Q12 1Q13

Debt 2,247.7 1,794.1 2,521.0 2,062.2

Short-term Debt 1,064.2 634.2 1,103.2 674.1

Long-term Debt 1,183.5 1,159.9 1,417.8 1,388.1

Cash* 296.5 1,376.7 309.6 1,389.2

Net Debt 1,951.2 417.4 2,211.4 673.0

EBITDA 12 months - - 1,370.5 1,097.4

Net Debt/Ebitda (Last 12 months) - - 1.6 0.6

Debt (R$million)


(*) As from January 2013, the Company’s financial investments have been concentrated in exclusiveinvestment funds. These are made up of highly liquid investment fund units, readily convertible intocash, irrespective of the maturity of the assets.


Debt Repayment

(R$ million)

596.9

1,068.7

93.7 17.8 17.8 0.8

30.0

27.9

24.224.2 24.2 136.0

626.9

1,096.6

117.942.0 42.0

136.8

2013 2014 2015 2016 2017 After 2017

Company Subsidiaries



1Q13 Results

CTEEP


Capital Market

� Present on all trade days;

� Component of Ibovespa;

� R$ 6.2 billion market capitalization.

70.00

100.00

1-Jan 8-Jan 15-Jan 22-Jan 29-Jan 5-Feb 12-Feb 19-Feb 26-Feb 5-Mar 12-Mar 19-Mar 26-Mar

TRPL3 TRPL4 IBOVESPA IEE

-3.62%

-7.55%

1.55%

12.36%

(12/31/2012 = 100)


Capital Market

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

Jan/13 Fev/13 Mar/13

Trade Financial - 03/31/2013(R$ million)

Total 473 R$ Million Daily Average / Day 8 R$ million

-

1,000

2,000

3,000

4,000

Jan-13 Feb-13 Mar-13

Trade Volume - 03/31/2013(units)

Total Trade: 63.463 Daily Average/ Day: 1.076


Disclaimer


All statements contained herein with regard to the Company’s

business prospects, projected results and the potential growth

of its business aremere forecasts, based on local management

expectationsin relation to the Company’s future performance.

Dependent as they are on market shifts and on the overall

performance of the Brazilian economy and the sector

and international markets, such estimates

are subject to changes.


Investor Relations

Phone: 55 11 3138-7557

[email protected]

www.cteep.com.br/ri

presentation 1q13

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