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Electricity and Utilities Panel. Brazil Overview. Area: 8.5 million sqm Inhabitants: 188 million 8 th World economy 2007 GDP: US$ 1,500 billion Economy growth 2007: 5.4% 2008-2012 E: 4.0% p.a. 1 Energy consumption growth 2007: 5.8% 2008-2017 E: 5.5% p.a. 2. 1 Source: IBGE - PowerPoint PPT Presentation
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Electricity and Utilities Panel
Area: 8.5 million sqmInhabitants: 188 million
8th World economy2007 GDP: US$ 1,500 billion
Economy growth2007: 5.4%2008-2012 E: 4.0% p.a.1
Energy consumption growth2007: 5.8%2008-2017 E: 5.5% p.a.2
1 Source: IBGE 2 Source: EPE (04/16/2008)
Brazil Overview
Corporate Structure
RME - Controlling Shareholders [52.1%]
LUCE
25.0% 25.0% 25.0% 25.0%
Free Float
Market
33.6% 6.5% 7.8%
• Total shares: 203,886,836 • Market Value: R$ 4.4 billions (as of October 16, 2008)
NewProjects
100.0%
Sustainability
Return to shareholders
Trading Energy
Growth in Generation Business
Losses Reduction
OperationalEfficiency
Strategy
Distribution
Distribution
• 3.9 million clients (attending over 10 million people)• Energy sales (LTM) - 23,550 GWh • 70% of the consumption of Rio de Janeiro state
(Brazil’s 2nd GDP)• Distribution Gross Revenue (LTM) - R$ 7.7 billion
ResidentialIndustrialCommercialOthersNetwork Use
ResidentialIndustrialCommercialOthersFree CostumersOther Discos
8%
42%
8%
31%
11%
Net revenues by segment (LTM)
22%
28%
7%
10%
12%
21%
Energy distributed GWh (LTM)4th largest energydistribution company in Brazil
LIGHT
Installed Capacity 855MW
HPP Santa Branca56 MW
Lajes ReservatoryHPP Fontes Nova132 MW
HPP UsinaSubterrânea Nilo Peçanha380 MW
HPP Pereira Passos100 MW
HPP Ilha dos Pombos187 MW
Light’s generation business Actual capacity
6th largest private company in hydro-generation in Brazil
* Light holds a 51% stake in each project.
Assured Energy 2008
SHP Paracamb
i 2010*
SHPLajes2010*
HPPItaocara 2013*
Total 2013
New Projects
855 13 999 976
306 1,283
Light’s new generation projectsStrategy of growing in generation
+ 50%
Trader (R$ MM)
Others (R$ MM)
Trading BusinessIntegration with clients
The clients portfolio rose from 9 in 2006 to over than 40 in 2008
1H08
1H07
• Air conditioning system of Santos Dumont Building.
• Energy efficiency projects in 33 buildings of Oi telecommunications company.
• Sale of 1/3 of the energy from SPH Paracambi.
• Long term contracts for the sale of 220 Mwa.
• Contracts with Votorantim and other relevant energy consumers.
9.2 million
2.9 million
39.7 million
6.7 million
Losses combat 80.4
Distribution network development 78.6
Quality improvement(structure optimization and preventive maintenance)
35.5
New generating projects 3.4
Investments
Main investments - 1H08
2005
277
2006
322
2007
355
2008 (E)
2581H08
576
3182H08(E)
*Based on the closing price of the previous day to the announcement
Financial Results
Net Income (R$ million)
2005
1H07
1H08
2007200
6
243
528 489
1,077
-150
1H07
518
2H07
203
2007
721
8.3%
12.4%
4.1%
Dividends and Dividend Yield*
Dividends
Dividend Yield
(1) Net Debt = Total Debt (excludes pension fund liabilities) - Cash
IndebtednessNet Debt and Leverage Levels
2005
2006
2,540
2007
1,462
Jun/08
1,550
3,147
Net Debt (ex-Braslight)
Net Debt/Ebitda
4.13.4
1.1 1.4
Indebtedness
2008
2009
2010
2011
2012
2013
2014
After 2014
74 57151 14
1
343410
281
457
* Principal only
Maturity: 5.3 years
Amortization Schedule* Jun08 (R$ million)
Debt Cost Evolution
Nominal Cost
Real Cost
17.03%
12.85%
12.17%
12.90%
10.73% 9.42%
7.38% 6.45%
Long Term 96%
Short Term 4%
US$/Euro 4%
CDI/Selic 78%
TJLP 18%
Shares Performance
Contact Information
Ronnie Vaz MoreiraExecutive Vice-President and IRO
Ricardo LevyFinance and IR Superintendent+ 55 21 2211 [email protected]
Cristina GuedesIR Manager+ 55 21 2211 [email protected]
www.light.com.br