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EDP Energias do Brasil | 2011

4Q11 Results Presentation

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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,

Disclaimer

4q11 highlights
4Q11 Highlights
  • Growth of 0.8% in energy volume sold to final customers in 4Q11 and 2.9% in 2011;
  • Growth of 5.2% in the electricity sold by Enertrade in 4T11 and 19.7% in 2011;
  • Reduction of 7.7% in the energy sold by the generators in 4T11 and increase of 1.0% in 2011;
  • Conclusion of the acquisition of the remaining 10% of the operating rights of Santo Antônio do Jari HPP;
  • 96.6% of Pecém project already concluded;
  • ANEEL postponed EDP Bandeirante tariff review until October 23 2011, when effects of the tariff review will be taken into account in the tariff readjustment process as a financial component;
  • Sale of 57.2 average MW of new energy at the A5 Auction by EDP RenováveisBrasil, (EDP Energias do Brasil stake: 45% );
  • Reduction in distribution losses: -0.8 p.p. at EDP Bandeirante and -1.22 p.p. at EDP Escelsa in annual comparison.
non recurring events 4q11
Non-recurring Events (4Q11)
  • Provision with respect to revenue from the billing of fines for surpassing demand limits and exceeding reactive energy levels, as from October 23 2011 to December 31 2011 (+R$ 7.3 million);
  • Accounting gain from the acquisition of ECE Participações S.A. based on a market valuation report in accordance with international practices – CPC 15 and CPC 18 (-R$ 10.2 million);
  • Expenditures with improvements to the company’s offices, installation and standardization of a new customer service outlet in São José dos Campos and the moving of the Guarulhos’s Distribution Center to a new site (+R$ 2.2 million);
  • Provisions for contingencies related to the Cruzado Plan (+R$ 5.6 million) and arbitration proceedings of Energest with respect to the building of São João SHP (+R$ 5.6 million);
  • Non-recurring impact in 4Q10 of a revaluation and partial reversal in the outstanding balance of actuarial liabilities for post-employment benefits provided by the distributors (+R$ 12.1 million).

Impacts on EBITDA: - R$ 10.5 million

operating performance
Operating Performance

ENERGY SALES VOLUME

LOSSES

Generation

2,386 GWh

4Q10

2,202 GWh

4Q11

-7.7%

Commercialization

2,225 GWh

4Q10

2,339 GWh

4Q11

5.2%

DISTRIBUTION CONSUMPTION MIX

Distribution

5,967 GWh

4Q10

6,087 GWh

4Q11

2.0%

financial performance r mm
Financial Performance (R$ MM)

NET REVENUE

EBITDA

R$ 301

4Q11

R$ 1,363 4Q10

R$ 1,355 4Q11

R$ 382

4Q10

-0.6%

-21.3%

R$ 5,034 2010

R$ 1,509

2010

R$ 1,538

2011

R$ 5,402 2011

+7.3%

+1.9%

OPEX/GROSS MARGIN EVOLUTION (%)

MANEAGEBLE EXPENDITURES (withoutD&A)

* impacts of non-recurring effects in the periods.

financial performance r mm1
Financial Performance (R$ MM)

FINANCIAL RESULTS

NET INCOME

R$ 82

4Q11

-R$ 49 4Q10

-R$ 83 4Q11

R$ 201

4Q10

+69.2%

-59.2%

-R$ 197 2010

R$ 583

2010

R$ 491

2011

-R$ 283 2011

+43.6%

-15.8%

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Debt

DEBT Dec.31.2011 X Dec.31.2010

Gross Debt: ↑ 6.7% R$ 3,613.6 million

Cash and Equiv.: ↓ 20.5% R$ 895.9 million

Net Debt: ↑ 20.3% R$ 2,717.7 million

Average Cost: ↑ 1.2 p.p. 10.3%

Average Term: ↓ 0.6 years 4.5 years

DEBT BREAKDOW PER COMPANY

INDEX BREAKDOW

investments
Investments

CAPEX BREAKDOWN 4Q11

CAPEX (R$ MM)

R$ 442

4Q10

R$ 282

4Q11

-36.2%

CAPEX BREAKDOWN 2011

R$ 1,012

2010

R$ 808

2011

-20.2%

dividends
Dividends

Dividends proposal of R$ 370.2 million, 5% higher than in 2010 considering the total amount distributed as well as dividend per share.

CAGR

+16.8%

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Maytê Souza Dantas de Albuquerque

Leandro Salles Santos

Marilia Barbosa Nogueira

Rogério Kovacevic Pacheco

Felipe Rhavy de Campos Antunes

E-mail: ri@edpbr.com.br

Phone: +55 11 2185-5907

Site: www.edpbr.com.br/ir

www.edpbr.com.br/ri