BRAZIL DAY 2008
October, 28
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Disclaimer
This presentation may include forward-looking statements of future events or results according to regulations
of the Brazilian and international securities and exchange commissions. These statements are based on
certain assumptions and analysis by the company that reflect its experience, the economic environment and
future market conditions and expected events, many of which are beyond the control of the company.
Important factors that may lead to significant differences between the actual results and the statements of
expectations about future events or results include the company’s business strategy, Brazilian and
international economic conditions, technology, financial strategy, public service industry developments,
hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans,
objectives, expectations and intentions, among others. Considering these factors, the actual results of the
company may be significantly different from those shown or implicit in the statement of expectations about
future events or results.
The information and opinions contained in this presentation should not be understood as a recommendation
to potential investors and no investment decision is to be based on the veracity, current events or
completeness of this information or these opinions. No advisors to the company or parties related to them or
their representatives shall have any responsibility for whatever losses that may result from the use or contents
of this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on
current expectations and projections about future events and trends that may affect the company’s
business. These statements include projections of economic growth and energy demand and supply, as well
as information about the competitive position, the regulatory environment, potential opportunities for growth
and other matters. Several factors may adversely affect the estimates and assumptions on which these
statements are based.
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EDP Energias do Brasil is an integrated power utility company,
controlled by EDP – Energias de Portugal
EDP Group
Market
62.4%
100%
Enernova
60%
Enerpeixe
45%
EDPRB
53.7%(1)
100%
Energest
Lajeado
Energia
100%
CESA
37.6%
51%
Costa Rica
Generation
60%(1)
EDP
Lajeado
100%
50%
Pecém
Enertrade
100%
100%
Bandeirante
Escelsa
100%
Pantanal
Energética
Commercialization
Distribution
Legend
% of the Total Capital
Notes:
(1)
Represents 47.2% direct stake held by Energias do Brasil and additional 6.5% indirect stake held by Energias do Brasil throug Tocantins Energia.
Together EDP Lajeado and Lajeado Energia hold 73.00% of the Voting Capital and 62.62% of the Total Capital in Investco S.A.
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10 years in Brazil
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Financial Performance
Net Revenues
EBITDA
(R$ MM)
(R$ MM)
CAGR
+9.9%
3,404
2004
3,864
3,985
CAGR
+13.2%
4,513
775
2005
2006
2007
Net Income
2004
913
2005
1,074
1,123
2006
2007
(R$ MM)
439
CAGR
+60.2%
394
440
Total Asset: R$ 9,719 mm
107
2004
Shareholders’ Equity: R$ 3,913 mm
2005
2006
2007
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Five drivers for growth
I
Development of assets in traditional generation (hydro power plants, CCGT,...)
II
Development in renewable generation
III
Expansion of the commercialization business
IV Potential consolidation in the sector
V Potential opportunities for growth in South America
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Highest growth in generation in the last 3 years
Installed Capacity
2,116
(MW)
6*
2008
653
50
29
25**
2009
2009
360
2011
Expectativa de
Entrada em Operação
25
2008
452
1.696
653*
1,702
1,702
1,043
516
2005
Peixe
4th Engine
São João
Angical HPP Mascarenhas
SHP
2007
+230%
Projects concluded since the IPO
Projects under construction
Additional
Capacity
Lajeado
Cenaeel
2008
Santa Fé
SHP
Repowering
Pecém
TPP
2011
+24%
* Under approval from agencies. It corresponds to the EnBr’s 45% stake at EDP Renováveis Brasil.
** Mascarenhas, Suíça and Rio Bonito
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We are working to create new growth opportunities
█
2 CCGT projects, with 500 MW each, and preliminary agreements signed with
Petrobrás for the supply of natural gas from 2013 on;
█
More than 30 small hydro power plants projects under development, with a total
installed capacity of 600 MW;
█
Development of feasibility studies for medium-sized hydro power plants (1,439 MW)
– in some cases in partnership with other players ;
█
Development of wind farms (500 – 700 MW);
█
Creation of Enernova (a platform to invest in renewable energy) and acquisition of 2
wind farms with 13.8 MW of installed capacity and expansion project for additional
70 MW;
█
Biomass thermal power plants projects (sugar cane bagasse) under development
with an installed capacity of 100 MW and with potential expansion to up to 350 MW.
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Analysts’ Consensus (22 Institutions)
Analysts’ Recommendation
29%
71%
Buy
Hold
Avg. Target Price estimated by analysts:
R$ 38.41
Upside Potential:
+ 66%
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Investidor Relations
Tel.: 55 11 2185-5907
[email protected]
www.energiasdobrasil.com.br
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