ENGIE Brasil Energia S.A. Results Presentation 4Q17 and 2017 February 22, 2018
DISCLAIMER This publication may include forward-looking statements The information and opinions contained herein should not on events or results pursuant to Brazilian and international be understood as a recommendation to potential investors securities’ regulations. These forward-looking statements and no investment decision should be based on the are based on certain assumptions and analyzes made by veracity, topicality or completeness of this information or ENGIE Brasil Energia S.A. (“ENGIE Brasil Energia ”, these opinions. None of the advisors to ENGIE Brasil “Company” or “EBE” ), - previously denominated Tractebel Energia or the parties related thereto or their Energia S.A. -, in accordance with its experience and the representatives shall accept responsibility for any losses, economic scenario, market conditions and expected which may occur as a result of the use or the content in events, many of which are outside the control of ENGIE this presentation. Brasil Energia. Important factors which can lead to This material includes forward-looking statements as to significant differences between effective results and the events subject to risks and uncertainties, which based on forward-looking statements with respect to events or existing expectations and forecasts on future events and results, include the business strategy of ENGIE Brasil tendencies, may affect the businesses of ENGIE Brasil Energia, economic and international conditions, Energia. These forward-looking statements include technology, financial strategy, development of the forecasts of economic growth and energy supply and government services industry, hydrological conditions, demand as well as information on competitive position, the conditions in the financial markets, uncertainty surrounding regulatory environment, growth potential opportunities and the results of its future operations, plans, objectives, other matters. Innumerous factors can affect adversely the expectations and intentions and other factors. In the light estimates and assumptions on which these statements are of these factors, the effective results of ENGIE Brasil based. Energia may differ significantly from those indicated or implicit in the forward-looking statements with respect to events or results. 2 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
CONTENT Highlights, Shareholding Structure, Assets, Market Chapter 1 Share and Sales Chapter 2 Energy Market in Brazil Chapter 3 Sales Strategy Chapter 4 Expansion Chapter 5 Financial Performance Chapter 6 Supporting Data 3 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
Highlights, Shareholding Structure, Assets, Market Share and Sales
HIGHLIGHTS Main financial and operational indexes: 4Q17 4Q16 Chg. 12M17 12M16 Chg. (in R$ million) Net Operating Revenue (NOR) 24.1% 8.8% 2,067.4 1,666.2 7,010.0 6,442.4 Results from Operations (EBIT) 62.9% 17.7% 880.5 540.5 2,850.2 2,421.6 Ebitda (1) 29.6% 10.8% 1,067.6 824.0 3,519.5 3,175.6 Ebitda / NRS - (%) (1) 2.1 p.p. 0.9 p.p. 51.6 49.5 50.2 49.3 Net Income 48.2% 29.5% 704.7 475.5 2,004.6 1,548.3 Return On Equity (ROE) (2) 5.9 p.p. 5.9 p.p. 29.3 23.4 29.3 23.4 Return On Invested Capital (ROIC) (3) -0.2 p.p. 0.2 p.p. 22.5 22.7 22.8 22.6 319.2% 319.2% Net Debt (4) 4,582.6 1,093.2 4,582.6 1,093.2 -12.7% -18.3% Power Production (avg MW) (5) 4,187 4,794 4,148 5,077 Energy Sold (avg MW) 6.7% 3.1% 4,227 3,962 4,082 3,961 -1.0% -0.2% Average Net Sales Price (R$/MWh) (6) 182.17 183.98 180.39 180.68 Number of Employees - Total 1.3% 1.3% 1,131 1,116 1,131 1,116 EBE Employees 0.5% 0.5% 1,083 1,078 1,083 1,078 Employees on Under Construction Plants 26.3% 26.3% 48 38 48 38 Notes: 1 Ebitda represents: net income + income tax and social contribution + financial result + depreciation and amortization. 2 ROE: net average equity for the past 4 quarters/shareholders’ equity. 3 ROIC: EBIT / invested capital (invested capital: debt – cash and cash equivalents – deposits earmarked for debt servicing + SE). 4 Adjusted amount, net of gains from hedge operations. 5 Total gross electricity output from the plants operated by ENGIE Brasil Energia. 6 Net of taxes and exports. 5 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
HIGHLIGHTS (cont’d) In 4Q17, the Company transfer the In the Transmission Auction 02/2017, effective management of the Jaguara promoted by Aneel, the Company and Miranda HPPs and took over full successfully bid for Lot 1, a 1,050 operations of the plants, adding 832 kilometers and five substations MW of installed capacity to its stretch located in Paraná with a generating complex. concession term of 30 years. EBE concluded the acquisition of The Assú V Solar Plant, located at the total capital stock of the Rio Grande do Norte, went into companies comprising the commercial operations in December, Umburanas Wind Complex, in the adding 30 MW of installed capacity. state of Bahia, at the adjusted price of R$ 16.9 million. 6 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
HIGHLIGHTS (cont’d ) For the 13 th consecutive year, EBE was The sale of the Beberibe and Pedra do Sal Wind Farms and the Areia included in the Corporate Sustainability Branca SHP was concluded for R$ Index (ISE). The Company has been a 322.0 million, underscoring the component of the ISE since its Company’s strategy of rotation and inception in 2005. optimization of its generating The Company is one of the five complex. Brazilian companies to have been included in the Global 100 Most Sustainable Corporations, elaborated In February 2018, Aneel revoked, as by Corporate Knights Magazine. requested by the Company, the authorization for operating the William Approved the proposal for the Arjona Thermoelectric Power Plant, distribution of complementary with 190.0 MW of installed capacity, dividends, subject to ratification by located in the state of Mato Grosso do Annual General Shareholders’ Meeting, Sul. in the amount of R$ 636.8 million (R$ 0.9755/share). 7 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
SHAREHOLDING STRUCTURE ENGIE S.A. 99.12% Energy International 100.00% Brasil Participações Ltda. 40.00% 68.71% 93.32% 100.00% EGIEY Geramamoré Part. ADR e Comerc. de Energia Ltda NÍVEL I Brasil Energia S.A. Energy Brasil 100.00% 48.75% 100.00% 100.00% 100.00% 100.00% 100.00% 99.99% 50.00% Companhia Companhia Companhia Pampa Sul – Lages Energética Energética Energética Bioenergética Miroel Wolowski Brasil Energias Brasil Energia Brasil Geração Estreito Jaguara Miranda Complementares Comercializadora Distribuída 40.07% 100.00% 95.00% 100.00% 100.00% 100.00% Ibitiúva Tupan Ferrari Assú V Campo Largo Bioenergética 100.00% 100.00% 100.00% Energias Eólicas Energias Eólicas Hidropower do Nordeste do Ceará Simplified version 8 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
CONSISTENT EXPANSION in a diversified portfolio of assets 30 plants Own installed capacity of 7,678 MW from 30 plants 1 operated by the Note: Company 1 The transfer of the 40% stake of ENGIE Brasil Part. in Jirau HPP to EBE should Key be examined shortly. Hydro 7,678 Thermal Proprietary Operating Installed Capacity Complementary Expansion 6,908 6,909 6,965 7,027 7,044 7,010 Transmission 6,431 6,472 6,094 6,188 6% 5,918 5,890 11% 5,036 83% 4,846 3,719 3,719 Hydro Thermal Complementary 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 9 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
RELEVANT POSITION among the private power producers ENGIE Brasil Energia is part of the largest independent power producer group in the country and is positioned to capture business opportunities. Private Sector – Installed Capacity 1 (GW) Brazil – Existing Installed Capacity 2,3 AES CPFL Copel 2.0% 1.6% 3.7% Cemig 4.5% Petrobras 10.2 4.9% Other 1.0 8.2 34.4% Itaipu 0.3 5.2% CTG 4.0 9.2 3.7 3.2 6.1% 7.9 2.9 2.7 1.2 1.5 1.9 0.5 1.7 ENGIE 4 3.2 2.8 2.7 2.4 2.2 1.9 1.7 6.9% ENGIE 4 CTG CPFL Neoenergia AES EDP Enel Eneva SPIC Eletrobras Tietê 30.7% Installed capacity under expansion 5 Current installed capacity Source: Aneel , Companies’ websites and in -house studies. Notes: ¹ Apparent sum-related errors are a result from rounding of addends. 2 Amount corresponding to National Interlinked System (SIN). 3 Includes only the Brazilian part of Itaipu. 4 Considering the consolidated installed capacity of the group, of the 9.2GW in operation from ENGIE Group in Brazil, EBE accounts for 7.7GW. 5 Based on information from Aneel, ONS and internal study. 10 02/22/2018 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q17 AND 2017
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