Earnings release 1 q11 presentation

OPERATING AND FINANCIAL RESULTS

1Q11

22

Agenda

► Highlights

► Operating Results

► Introduction

► Financial Results

► Redentor

► Comparison IFRS x BR Gaap

3

► Highlights



► Redentor

► Introduction

Agenda


4

Introduction

Presentation of Operating and Financial Information

► The financial information contained herein is presented in consolidated figures, pursuant to Brazilian Corporate Law, based on revised financial information. The consolidated financial information represents: i) 100% of CEMAR’s results, excluding 34.89% related to minority interests, ii) 25% of Geramar’s results and iii) 100% of Equatorial Soluções Results.

► The operating information presented herein consolidates 100% of CEMAR’s results and 25% of Geramar’s results.

► In order to facilitate comparisons, the operating and financial information of 1Q10 are pro forma, so that the interest held by Equatorial in RME is not being considered.

► The following information was not reviewed by the independent auditors: i) non-financial information relating to CEMAR and the PLPT (Programa Luz para Todos - Light for All Program); ii) pro forma information and its comparison with the results presented in the period; and iii) management expectations regarding the future performance of the Companies.

5

► Highlights


► Introduction


► Redentor

Agenda


6

Operating Highlights

► CEMAR’s billed energy volume totaled 998 GWh in 1Q11, 3.9% more than in 1Q10.

► CEMAR’s last-12-month energy losses totaled 21.6% of required energy in 1Q11, 2.6 p.p. less than the1Q10 ratio.

► CEMAR’s last-12-month DEC and FEC indices came to 21.5 hours and 12.9 times, respectively, in1Q11, 1.7% and 10.9% down on the 1Q10 figures.

7

► Net operating revenues (NOR) totaled R$413.1 million in 1Q11, 10.4% up on 1Q10, reflecting a 9.8%increase in CEMAR.

► 1Q11 EBITDA came to R$112.3 million, 2.0% lower than the amount reported in 1Q10.

► Net income totaled R$34.2 million in the quarter, 10.2% down on the adjusted amount reported in the sameperiod last year.

► Equatorial’s consolidated investments amounted to R$80.4 million in 1Q11, 3.6% up year-on-year. InCEMAR (excluding direct investments in the Light For All Program), total capex amounted to R$42.6 million,11.3% up y/y. Light For All Program investments totaled R$37.7 million.

Financial Highlights

8

► Highlights


Agenda

► Introduction


► Redentor


9

► CEMAR: 1Q11 energy sales moved up by 3.9%, reaching 998 GWh.

CEMAR – Electricity Sales Volume

Electricity Consumption per Segment (GWh)

Energy Balance (GWh)

CONSUMPTION SEGMENTS (GWh) 1Q10 4Q10 1Q11 Chg.

Residential 449.4 507.0 467.7 4.1%

Industrial 97.3 111.3 102.1 4.9%

Commercial 190.4 215.5 198.1 4.1%

Other 222.8 259.8 229.7 3.1%

TOTAL 959.9 1,093.6 997.6 3.9%

ENERGY BALANCE (GWh) 1Q10 4Q10 1Q11 Chg.

Required Energy 1,240 1,421 1,259 1.4%

Sold Energy (*) 960 1,095 999 4.1%

Losses 280 326 260 -7.7%

(*) Considers sale to the segments, own consumption and sales to CEPISA

10

Distribution – Energy Losses in CEMAR

Total Losses over Required Energy

(last 12 months)

28.7%28.1%

28.9% 28.6% 28.9% 28.5% 28.1%

26.4%

22.2% 22.0%21.6%

24.2%

22.2%25.2%

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11

Total Losses

24.3%

Regulatory Target

(from Aug-10 until Jul-11)

Non-technical Losses over Low-Voltage Market

(last 12 months)

30.4%29.0%

30.6% 29.9% 30.0%28.7%

27.3%

15.7% 15.0%

19.5%23.7%

21.5%

15.9%15.7%

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11

Non-technical Losses

21.5%

Regulatory Target

(from Aug-10 until Jul-11)

11

DEC (hours) FEC (times)

Distribution – DEC and FEC (Last 12 months)

► CEMAR: The DEC index improved 1.7% compared with 1Q10 and the FEC index improved 10.8% in the same period.

21.521.9

1Q10 1Q11

-1.7%

14.412.9

1Q10 1Q11

-10.8%

12

► Highlights


Agenda

► Introduction


► Redentor


13

Consolidated Performance

Net Operating Revenues*

EBITDA*

Net Income*

*Only operating companies are considered in these graphs.

97.6%97.9%

0.1%2.3%

2.0%

1Q10 1Q11

CEM AR EQTL Soluções Geramar

10 . 4 %374.1413.1

96.8% 93.9%

6.1%3.2%

1Q10 1Q11

CEM AR Geramar

- 2 . 0 %114.6 112.3

91.8%

98.6%

1.4%

8.2%

1Q10 1Q11

CEM AR Geramar

52.5

34.2

- 3 4 . 9 %

14

Consolidated Performance

Adjusted Net Income

► RME Equity Income: We excluded R$14.4 million in Equity Pick-up related to Equatorial’s investment in RME since this investment wasspun-off in 2Q10.

38.1 34.2

52.5

14.4

1Q10

Net Income

Equity Income

RME

1Q10

Adj. Net Income

1Q11

Net Income

-10.2%

15

Debt: Schedule of Gross Debt Maturities

Consolidated Gross Debt

(100% CEMAR + 25% Geramar)

201.4

346.4

119.4

113.4

292.3

-

-

-

-

129.5

1,202.5

40.0

65.9106.0

Gross Debt Short Term 2012 2013 2014 2015 After 2015

CEMAR

Geramar

16

100% CEMAR + 25% Geramar

Net Debt - Consolidated

Net Debt (R$MM)(*) and Net Debt/ EBITDA

(Last 12 months)

Net Debt Reconciliation (R$MM)

775.7 733.4 758.7754.3 752.8

1.7

1.51.5

1.7

1.4

1Q10 2Q10 3Q10 4Q10 1Q11

511.9

752.8

1,308.5

43.9

Gross Debt Net Reg.

Assets

Cash Net Debt

17

Net Debt (R$MM)(*) and Net Debt/ EBITDA

(Last 12 months)

Net Debt Reconciliation (R$MM)

Net Debt – Pro-Rata

65.11% CEMAR + 25% Geramar

512.7 483.3 499.1494.7494.4

1.71.7

1.51.51.4

1Q10 2Q10 3Q10 4Q10 1Q11

365.9

494.4

888.9

28.6

Gross Debt Net Reg.

Assets

Cash Net Debt

18

► CEMAR: In the 1Q11, total capex reached R$80.4 million, of which R$42.6 million are own capex and R$37.7 million are related to the Light for All Program (PLPT).

► Ever since the conclusion of the construction of its plants, Geramar has only maintenance capex.

Capex - Equatorial

INVESTMENTS (R$MM) 1Q10 4Q10 1Q11 Chg.

CEMAR

Own (*) 38.3 67.3 42.6 11.3%

Light For All Program 33.1 58.3 37.7 13.9%

Total 71.4 125.6 80.3 12.5%

Geramar

Generation 6.3 0.4 0.2 -97.2%

TOTAL 77.6 126.0 80.4 3.6%

(*) Including indirect Light For All Program investments

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► Highlights


Agenda

► Introduction


► Redentor


20

Redentor

► On May 12, 2011, Redentor’s controlling shares were transfered from FIP PCP to Parati S.A., company controlled by CEMIG and FIP Redentor.

► During this week, R$1.42 per share should be paid to shareholders, corresponding to the dividends and capital reduction recently announced.

RME

Rio Minas Energia

Light S.A.

100%

13.0%

Redentor

Energia S.A.

Parati S.A. Free Float

54.1% 45.9%

Equatorial

Energia

Equatorial

SoluçõesGeramarCEMAR

PCP Latin America

Power

53.9%

65.1% 25%

46.1%

Free Float

100%

21

► Highlights


Agenda

► Introduction



► Redentor

22

Comparison IFRS x BR Gaap

Balance Sheet – Equatorial – 4Q09

ASSETS (R$ MM)

4Q09

Original Adjust.

4Q09

IFRS

CURRENT 1,396.5 (530.3) 866.2

Cash and Cash Equivalents 548.8 (108.3) 440.5

Consumers and Resellers 506.0 (177.5) 328.5

Inventory 7.4 (1.9) 5.5

Taxes Recoverable 103.9 (57.7) 46.2

Low Income 25.1 (2.0) 23.1

Regulatory Assets 118.6 (118.6) -

Other Accounts Receivable 86.7 (64.4) 22.3

NON CURRENT 2,759.4 (1,002.0) 1,757.4

LONG TERM ASSETS 584.3 (197.7) 386.6



Regulatory Assets - - -

Deferred Taxes - Income Tax / Social Contribution 320.6 (101.4) 219.2

Financial Concession Asset - 33.4 33.4


DESCONTINUED OPERATIONS - 459.4 459.4

FIXED ASSETS 2,175.2 (804.4) 1,370.8

Investments 3.8 (3.5) 0.2

Fixed Assets 2,769.8 (1,809.3) 960.4

(-) Special Obligations (852.9) 23.8 (829.1)

Deferred 3.5 (3.5) -

Goodwill 251.1 988.1 1,239.3

TOTAL ASSETS 4,155.9 (1,073.0) 3,083.0

LIABILITIES AND SHAREHOLDERS' EQUITY (R$ MM)

4Q09

Original Adjust.

4Q09

IFRS

CURRENT 851.8 (258.3) 593.5

Suppliers 256.6 (73.5) 183.1

Salaries 1.2 5.3 6.5

Dividends / Interest on Equity 70.5 (9.7) 60.8

Taxes and Social Contribution 71.0 (37.6) 33.4

Income Tax - 0.4 0.4

Loans and Financing 249.5 (25.7) 223.8

Debentures 20.4 (12.6) 7.8

Public Lighting 22.4 (6.7) 15.7

Provision for Contingencies 3.3 0.0 3.3

Regulatory Liabilities 22.0 (22.0) -

Efficiency - 17.1 17.1

Others 134.9 (93.4) 41.6

LONG TERM LIABILITIES 1,868.1 (637.6) 1,230.5


Debentures 419.2 (151.9) 267.3


Provision for Contingencies 81.7 (76.8) 4.8

Negative Goodwill - - -

Others 165.7 (145.0) 20.7

MINORITY INTERESTS 254.5 (251.4) 3.1

SHAREHOLDERS EQUITY 1,181.5 74.3 1,255.8

Capital Stock 907.5 0.0 907.5

Profit Reserves 274.1 1.2 275.2

Retained Earnings/Accumulated Deficit - 73.1 73.1

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 4,155.9 (1,073.0) 3,083.0

23



ASSETS (R$ MM)

1Q10

Original Adjust.

1Q10

IFRS

CURRENT 1,463.7 (492.7) 971.0

Cash and Cash Equivalents 643.1 (119.7) 523.4


Inventory 9.2 (3.1) 6.1


Low Income 22.5 0.0 22.5



NON CURRENT 2,824.6 (1,105.4) 1,719.2

LONG TERM ASSETS 599.2 (216.6) 382.6




Deferred Taxes - Income Tax / Social Contribution 217.1 0.9 218.0



DESCONTINUED OPERATIONS - 373.6 373.6

FIXED ASSETS 2,225.4 (888.8) 1,336.5

Investments 2.7 (2.5) 0.2

Fixed Assets 2,799.8 (1,758.9) 1,041.0

(-) Special Obligations (902.7) (0.0) (902.8)


Goodwill 322.2 875.9 1,198.1

TOTAL ASSETS 4,288.3 (1,224.6) 3,063.7


1Q10

Original Adjust.

1Q10

IFRS

CURRENT 837.1 (247.9) 589.1

Suppliers 187.7 (71.7) 116.1

Salaries 1.3 9.8 11.2

Dividends / Interest on Equity 70.5 (8.5) 62.0




Debentures 67.8 (12.3) 55.5

Public Lighting 15.5 0.0 15.5




Others 126.7 (102.9) 23.8



Debentures 363.6 (107.0) 256.6



Negative Goodwill 75.0 (75.0) -

Others 178.5 (157.9) 20.6


SHAREHOLDERS EQUITY 1,245.6 (14.0) 1,231.6

Capital Stock 926.0 (0.0) 926.0


Retained Earnings/Accumulated Deficit 39.3 (14.0) 25.3

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 4,288.3 (1,224.6) 3,063.7

24


Balance Sheet - Equatorial - 2Q10

ASSETS (R$ MM)

2Q10

Original Adjust.

2Q10

IFRS

CURRENT 1,014.3 (25.4) 988.9

Cash and Cash Equivalents 490.8 - 490.8

Consumers and Resellers 374.7 - 374.7

Inventory 5.6 0.2 5.8

Taxes Recoverable 58.3 - 58.3

Low Income 23.4 - 23.4



NON CURRENT 2,045.0 (305.2) 1,739.8

LONG TERM ASSETS 413.2 (36.1) 377.1






Other Accounts Receivable 9.4 - 9.4

DESCONTINUED OPERATIONS - - -

FIXED ASSETS 1,631.9 (269.1) 1,362.8

Investments 0.2 - 0.2

Fixed Assets 2,288.2 (1,193.1) 1,095.1

(-) Special Obligations (949.2) - (949.2)


Goodwill 290.9 925.8 1,216.7

TOTAL ASSETS 3,059.3 (330.6) 2,728.7


2Q10

Original Adjust.

2Q10

IFRS

CURRENT 549.0 (6.8) 542.2

Suppliers 150.2 - 150.2

Salaries 0.8 - 0.8

Dividends / Interest on Equity 0.4 - 0.4



Loans and Financing 192.1 - 192.1

Debentures 61.8 - 61.8

Public Lighting 14.6 - 14.6

Provision for Contingencies 1.6 - 1.6



Others 64.2 (25.7) 38.5

LONG TERM LIABILITIES 1,140.9 76.5 1,217.5

Taxes and Social Contribution 139.4 12.0 151.5

Debentures 267.3 (9.9) 257.4

Loans and Financing 714.1 70.6 784.6


Negative Goodwill - -

Others 14.9 5.7 20.6


SHAREHOLDERS EQUITY 829.5 86.2 915.8

Capital Stock 577.9 (11.1) 566.8



TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 2,774.4 (45.7) 2,728.7

25



ASSETS (R$ MM)

3Q10

Original Adjust.

3Q10

IFRS

CURRENT 1,073.3 (80.4) 992.8

Cash and Cash Equivalents 444.7 - 444.7


Inventory 5.5 0.2 5.8

Taxes Recoverable 70.3 - 70.3

Low Income 24.9 - 24.9



NON CURRENT 2,143.8 (314.9) 1,829.0

LONG TERM ASSETS 417.9 (36.4) 381.5



Regulatory Assets - -



Other Accounts Receivable 8.7 - 8.7

DESCONTINUED OPERATIONS - -

FIXED ASSETS 1,725.9 (278.4) 1,447.5

Investments 0.2 - 0.2

Fixed Assets 2,375.5 (1,288.0) 1,087.5

(-) Special Obligations (942.5) - (942.5)


Goodwill 291.0 1,011.2 1,302.3

TOTAL ASSETS 3,217.1 (395.3) 2,821.8


3Q10

Original Adjust.

3Q10

IFRS

CURRENT 596.7 (9.4) 587.4

Suppliers 174.8 - 174.8

Salaries 0.9 - 0.9

Dividends / Interest on Equity 0.4 - 0.4


Income Tax 27.4 27.4



Public Lighting 13.2 - 13.2

Provision for Contingencies 2.7 - 2.7


Efficiency 29.9 29.9

Others 76.1 (24.9) 51.3





Provision for Contingencies 2.0 2.4 4.4

Negative Goodwill - - -

Others 20.5 - 20.5


SHAREHOLDERS EQUITY 981.6 (22.3) 959.2

Capital Stock 566.8 - 566.8

Profit Reserves 280.4 - 280.4


TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 3,217.1 (395.3) 2,821.8

26


Income Statement – Equatorial – 1Q09 and 1Q10

INCOME STATEMENT (R$ MM) 1Q09 1Q09 1Q10 1Q10

Original Adjust. IFRS Original Adjust. IFRS

GROSS OPERATING REVENUES 669.9 (206.0) 463.8 723.6 (225.9) 497.7

Electricity Sales to Final Consumer 632.2 (269.2) 363.0 679.5 (257.4) 422.1

Electricity Supply 15.9 (11.0) 4.9 14.2 (12.6) 1.6

Construction Revenues - 92.4 92.4 - 69.3 69.3

Other Revenues 21.8 (18.3) 3.5 30.0 (25.2) 4.7

DEDUCTIONS FROM OPERATING REVENUES (219.4) 115.2 (104.2) (240.1) 116.5 (123.6)

NET OPERATING REVENUES 450.5 (90.8) 359.6 483.5 (109.4) 374.1

ELECTRICITY COSTS (221.6) 21.2 (200.4) (254.6) 64.9 (189.7)

Electricity Purchased for Resale (202.3) 113.6 (88.7) (232.8) 134.2 (98.6)

Transmission and Distribution Network Usage Charges (18.9) (0.0) (19.0) (21.1) - (21.1)

Construction Costs - (92.4) (92.4) - (69.3) (69.3)

Other non-manageable expenses (0.3) - (0.3) (0.7) (0.0) (0.7)

OPERATING COSTS/EXPENSES (78.4) 22.7 (55.7) (104.7) 34.9 (69.8)

Personnel (18.0) 4.9 (13.1) (26.2) 1.1 (25.1)

Material (2.6) 0.6 (2.0) (3.0) 0.9 (2.0)

Services (32.2) 7.7 (24.6) (36.3) 4.8 (31.5)

Provisions (21.0) 8.5 (12.5) (19.3) 11.3 (8.0)

Others (4.6) 1.0 (3.6) (20.0) 16.9 (3.1)

EBITDA 150.5 (46.9) 103.5 124.2 (9.5) 114.6

Other Operating Revenue/Expenses (7.6) - (7.6) (2.0) (2.0) (4.1)

Depreciation and Amortization (35.6) 10.0 (25.6) (32.0) 8.8 (23.2)

SERVICE INCOME 107.2 (36.9) 70.4 90.2 (2.8) 87.4

EQUITY INCOME 0.3 20.9 21.2 0.3 13.2 13.5

Equity Income - 22.0 22.0 - 14.4 14.4

Goodwill Amortization 0.3 (1.2) (0.9) 0.3 (1.2) (0.9)

FINANCIAL INCOME 1.5 0.7 2.2 (19.4) 12.4 (7.0)

Financial Revenue 39.8 (8.5) 31.3 33.0 (6.2) 26.8

Financial Expenses (38.3) 9.3 (29.1) (52.4) 18.6 (33.8)

RESULT BEFORE INCOME TAX 109.0 (15.2) 93.7 71.1 22.9 93.9

Social Contribution (6.0) 1.1 (4.8) (13.3) 6.4 (6.9)

Income Tax (17.5) 3.2 (14.3) (10.9) - (10.9)

Deferred Taxes (11.3) 5.8 (5.4) 4.8 (14.9) (10.1)

SUDENE Incentive 13.7 (0.0) 13.7 10.6 - 10.6

PROFIT SHARING (4.1) 4.1 - (3.4) 3.4 -

MINORITY INTERESTS (20.8) 0.0 (20.8) (17.1) (7.1) (24.1)

NET INCOME 63.0 (1.0) 62.1 41.7 10.8 52.5

27


Income Statement – Equatorial – 2Q09 and 2Q10

INCOME STATEMENT (R$ MM) 2Q09 2Q09 2Q10 2Q10


GROSS OPERATING REVENUES 880.4 (393.4) 487.0 447.7 119.1 566.8

Electricity Sales to Final Consumer 814.6 (447.7) 366.9 433.3 28.1 461.4

Electricity Supply 26.7 (23.7) 3.0 1.8 - 1.8


Other Revenues 39.1 (34.5) 4.6 12.6 - 12.6

DEDUCTIONS FROM OPERATING REVENUES (299.5) 198.0 (101.5) (131.9) (1.0) (132.9)

NET OPERATING REVENUES 580.9 (195.3) 385.6 315.8 118.0 433.8

ELECTRICITY COSTS (318.1) 90.3 (227.8) (132.8) (90.6) (219.2)

Electricity Purchased for Resale (295.6) 202.9 (92.7) (111.2) - (106.7)

Transmission and Distribution Network Usage Charges (22.5) (0.0) (22.5) (20.9) - (21.2)

Construction Costs - (112.6) (112.6) - (90.6) (90.6)

Other non-manageable expenses - - - (0.7) - (0.7)

OPERATING COSTS/EXPENSES (114.5) 58.7 (55.8) (69.6) (3.3) (73.0)

Personnel (15.6) 1.0 (14.6) (15.3) (3.3) (18.7)

Material (3.0) 1.1 (1.9) (2.0) - (2.0)

Services (24.5) (1.3) (25.8) (34.6) - (34.6)

Provisions (32.7) 24.6 (8.1) (15.2) - (15.2)

Others (38.7) 33.4 (5.3) (2.5) - (2.5)

EBITDA 148.3 (46.3) 102.0 113.4 24.1 141.6

Other Operating Revenue/Expenses (3.6) - (3.6) (0.7) - (0.7)


SERVICE INCOME 98.9 (27.2) 71.7 89.4 24.1 117.7

EQUITY INCOME 2.0 17.4 19.4 (2.3) - (2.3)

Equity Income - 18.5 18.5 - - -

Goodwill Amortization 2.0 (1.1) 0.9 (2.3) - (2.3)

FINANCIAL INCOME 1.1 0.5 1.6 (17.6) (0.3) (17.8)

Financial Revenue 42.8 (12.2) 30.6 19.6 (0.3) 19.3

Financial Expenses (41.7) 12.7 (29.0) (37.3) - (37.1)

RESULT BEFORE INCOME TAX 102.0 (9.3) 92.7 69.5 23.8 97.6

Social Contribution (29.6) 24.7 (4.9) (10.3) - (10.3)

Income Tax (7.5) (6.2) (13.7) (15.3) - (15.3)

Deferred Taxes 41.4 (21.1) 20.3 12.5 (10.7) 1.8

SUDENE Incentive 13.1 (0.0) 13.1 14.6 - 14.6

PROFIT SHARING (4.9) 4.9 - (3.3) 3.3 -

MINORITY INTERESTS (43.1) 12.4 (30.7) (23.5) (7.2) (30.7)

NET INCOME 71.4 5.4 76.8 44.1 9.2 57.7

28


Income Statement – Equatorial - 3Q09 and 3Q10 INCOME STATEMENT (R$ MM) 3Q09 3Q09 3Q10 3Q10


GROSS OPERATING REVENUES 908.7 (381.0) 527.7 527.1 85.7 612.8

Electricity Sales to Final Consumer 845.5 (432.1) 413.4 508.2 (40.9) 467.2

Electricity Supply 25.1 (22.8) 2.3 11.4 - 11.4


Other Revenues 38.0 (33.6) 4.5 7.6 - 7.6

DEDUCTIONS FROM OPERATING REVENUES (302.3) 179.8 (122.6) (133.2) 0.5 (132.8)

NET OPERATING REVENUES 606.4 (201.2) 405.2 393.9 86.2 480.1

ELECTRICITY COSTS (295.0) 288.3 (6.7) (127.6) (129.8) (257.4)

Electricity Purchased for Resale (277.4) 180.7 (96.7) (111.6) - (111.6)

Transmission and Distribution Network Usage Charges (17.6) - (17.6) (19.1) - (19.1)

Construction Costs - - 107.6 - (126.6) (126.6)

Other non-manageable expenses - 3.1 (3.1) -

OPERATING COSTS/EXPENSES (106.3) 46.8 (59.6) (80.2) (15.9) (96.2)

Personnel (21.2) 5.9 (15.3) (16.1) (8.2) (24.3)

Material (3.2) 0.9 (2.3) (1.7) - (1.7)

Services (35.1) 7.1 (28.0) (45.8) - (45.8)

Provisions (23.9) 19.3 (4.6) (13.7) - (13.7)

Others (22.9) 13.5 (9.3) (2.9) (7.7) (10.6)

EBITDA 205.0 133.9 338.9 186.0 (59.5) 126.5

Other Operating Revenue/Expenses (0.7) - (0.7) (4.3) - (4.3)


SERVICE INCOME 160.3 153.0 313.3 156.7 (59.4) 97.3

EQUITY INCOME 1.2 7.8 9.0 (1.6) (0.0) (1.6)

Equity Income - 9.0 9.0 - -

Goodwill Amortization 1.2 (1.2) (1.6) - (1.6)

FINANCIAL INCOME (17.0) 11.1 (5.8) (9.5) 0.1 (9.4)

Financial Revenue 36.5 (12.0) 24.5 27.1 0.1 27.2

Financial Expenses (53.4) 23.1 (30.3) (36.6) - (36.6)

RESULT BEFORE INCOME TAX 144.5 172.0 316.5 145.7 (59.3) 86.4

Social Contribution (26.7) 18.8 (7.9) (10.0) - (10.0)

Income Tax (20.7) - (20.7) (15.6) - (15.6)

Deferred Taxes (8.9) 5.5 (3.3) (24.2) 17.4 (6.8)

SUDENE Incentive 20.5 - 20.5 15.4 - 15.4

PROFIT SHARING (4.1) 4.1 - (8.2) 8.2 -

MINORITY INTERESTS (38.7) 10.1 (28.7) (37.8) 11.8 (26.1)

NET INCOME 65.9 210.4 276.4 65.3 (21.9) 43.4

29

Eduardo Haiama

CFO and IRO

Thomas Newlands

Investor Relations

Telephone 1: +0 55 (21) 3206-6635

Telephone 2: +0 55 (21) 3217-6607

Email: [email protected]

Website: http://www.equatorialenergia.com.br/ir

Contacts

mailto:[email protected]

http://www.equatorialenergia.com.br/iri

30

• This presentation may contain forward-looking statements, which are subject to risks and uncertainties, as they were based on the

expectations of Company’s management and on available information. These prospects include statements concerning the Company’s

current intentions or expectations for our clients; this presentation will also be available at our website www.equatorialenergia.com.br/ir and

in the IPE system of the Brazilian Securities and Exchange Commission (CVM).

• Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share

and competitive positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factors

and values that can establish these results are outside Company’s control or expectation. The reader/investor is advised not to completely

rely on the information above.

• The words “believe", “can", “predict", “estimate", “continue", “anticipate", “intend", “forecast" and similar words, are intended to identify

estimates, which refer only to the date on which they were expressed. Hence, the Company has no obligation to update said statements.

• This presentation does not constitute any offering, invitation or request of subscription offer or purchase of any marketable securities. And,

this statement or any other information herein, does not constitute the basis for any contract or commitment of any kind.

Disclaimer

http://www.equatorialenergia.com.br/ir







Documents

Earnings release 1 q11 presentation