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FINANCIAL STATEMENTS 2001. Chief Financial Officer - DFN Chief Investor Relation Officer. Highlights on Financials. Net Income R$ 478 Million. Return on Equity 7%. EBITDA R$ 1.412 Million. Total debt R$2.480 Million. Proposed Dividends R$ 214 Million. Shareholders’ Equity

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Financial statements 2001

FINANCIAL STATEMENTS

2001

  • Chief Financial Officer - DFN

  • Chief Investor Relation Officer


Financial statements 2001

Highlights on Financials

Net Income

R$ 478 Million

Return on Equity

7%

EBITDA

R$ 1.412 Million

Total debt

R$2.480 Million

Proposed Dividends

R$ 214 Million

Shareholders’ Equity

R$ 6,948 Million

Debentures

R$ 625 Million

Interest and Charges

R$ 221 Million


Financial statements 2001

Highlights on institutional affairs

Listing

New York Stock Exchange

BOVESPA

Corporate Governance

Level I

cmig4

cig


Financial statements 2001

Highlights on strategy

Industry General

Agreement

Industry Revitalization

Expansion

Revenue Losses

The MAE Energy transaction

deadlock

CAPEX

R$ 635 MI

Non controllable costs

Assurance on the

capacity expansion

New consumers

270 thousand

connected

Purchase of non

Regulated price energy

Moving along with the Industry

restructuring

Porto Estrela

112 MW

Irapé

Funding Structure

Other Regulatory costs


Financial statements 2001

Incurred Costs and reimbursement on the wake of the Regulatory Agreement 2001

Values in R$ million


Financial statements 2001

ECONOMIC INDICATORS Regulatory Agreement 2001


Financial statements 2001

CEMIG Structure Regulatory Agreement 2001

Novas agências de atendimento

New Investments in Generation Capacity


Financial statements 2001

Consolidated statement of income Regulatory Agreement 2001


Assets

BS reflects the industry agreement booking rules Regulatory Agreement 2001

Assets

Balance Sheet: Holding

Values in million of Reais

Liabilities and Equity


Financial statements 2001

EPS growth was strong in 2001 Regulatory Agreement 2001

Holding

R$ MI in 12/31/2001

% change

Net Operating Revenue

Operating Expenses

EBITDA

FX Losses

Net income (Loss)

Operating Margin (%)

EBITDA Margin (%)

Retail Sales (GWh)

4,712.9

3,803.8

1,412.1

209.5

477.9

19.3

30.0

34,896

29.9 %

29.9 %

19.2 %

123.3 %

15.2%

(0.2)%

(8.3) %

(7) %


Financial statements 2001

Quartely Net income growth Regulatory Agreement 2001

R$ million


Financial statements 2001

Quartely EBITDA growth Regulatory Agreement 2001

19.2 %


Financial statements 2001

Net Income 15% higher in 2001 Regulatory Agreement 2001

Holding


Financial statements 2001

Net Revenue increased 30% Regulatory Agreement 2001

due to tariff readjustment

Holding


Financial statements 2001

Non controllable costs Regulatory Agreement 2001

increased faster

Holding


Financial statements 2001

Energy purchased reflects Regulatory Agreement 2001

rationing adjustment

Holding


Financial statements 2001

FX losses were higher even Regulatory Agreement 2001

with the Real appreciation

Holding

FINANCIAL RESULTS

For the whole Year

Real Depreciation:

Up to Dec/01: 18.67%

Up to Dec/00: 9.30%

2001

2000

Financial Result

( R$266,0 MI )

Financial Result

( R$204,5 MI )

Revenue

R$ 448,2 MI

Revenue

R$239,9 MI

Expenses

( R$443,2 MI )

Expenses

( R$412,0 MI )

FX Losses

( R$209,5 MI )

FX Losses

( R$93,9 MI )


Financial statements 2001

Foreign Currency debt reduced Regulatory Agreement 2001

by Eurobond retirement

Million of Reais

Holding


Financial statements 2001

Debt maturity Regulatory Agreement 2001

Holding


Financial statements 2001

2001 Year end results:guidance Regulatory Agreement 2001

NON-OPERATING RESULTS

For the whole Year

2001

2000

Non-operating Result

( R$89.9 MI )

Non-operating Result

( R$63.6 MI )

Write-off and Disposal losses

( 44.0 MI )

Write-off and Disposal losses

( R$14.7 MI )

FORLUZ – operating expenses

( R$7.9 MI )

FORLUZ – operating expenses

( R$8.0 MI )

Projects write-off and others

( R$38.0 MI )

Projects write-off and others

( R$40.9 MI )


Financial statements 2001

ENERGY BALANCE 2001 Regulatory Agreement 2001

Energy for sale

46.984 GWh

Energy delivered to the transmission grid

Regulated price Market

17,557 GWh

Total

Energy

43,391 GWh

Non regulated potencial market

16,875 GWh

Third party plant supply

Losses 7,6 %

3,593 GWh

1,323 GWh

Wholesale

7,636 GWh


Financial statements 2001

Rationing reduced sales Regulatory Agreement 2001

Volume in 7%


Financial statements 2001

PRODUCTIVITY GAINS Regulatory Agreement 2001


Electricity sales after rationing

Outlook 2002 Regulatory Agreement 2001

Electricity sales – After rationing

Growth

Reference: June/2001


Market growth before and after rationing

Outlook 2002 Regulatory Agreement 2001

Market growth : before and after rationing

Reference: June/2001


Financial statements 2001

INVESTMENTS PROGRAM Regulatory Agreement 2001

R$3.9 billion planned for the next 5 years

Economic Basis


Financial statements 2001

Major Projects Regulatory Agreement 2001