Transmissora Alianca De Energia Eletrica S.a. · BMFBOVESPA:TAEE3

Transmissora Alianca De Energia Eletrica — Terna Participações — Q2 2009 Earnings Presentation

18 slides from Transmissora Alianca De Energia Eletrica's earnings presentation, Jul 29, 2009

  1. Slide 1: Earnings Release 2Q09

    Earnings Release 2Q09 Earnings Release 2Q09 July 29, 2009 1

  2. Slide 2: Earnings Release 2Q09 Agenda

    Earnings Release 2Q09 E Earnings i Release R l 2Q09 Highlights Operational Performance Fi Financial i l Performance P f 2

  3. Slide 3: Highlights

    Earnings Release 2Q09 Hi hli ht Highlights Sale of Approval by Cemig’s EGM occurred on May 28th, 2009 Shareholding Control Approval by the CADE’s plenary in meeting held on July 8, 2009 High availability (99.97%) Operational O ti l Ongoing projects Brasnorte and Serra da Mesa 2 (R$11.0 million RAP f

  4. Slide 4: Highlights: Sale of Shareholding Control

    Earnings Release 2Q09 Hi hli ht Highlights Sale of Shareholding Control ƒ Buyer: Cemig Geração e Transmissão S.A., wholly-owned subsidiary of Companhia Energética de Minas Gerais (Cemig) ƒ Stake: approximately 65.86% of the capital stock of Terna Participações. ƒ Price: R$ 2,330,469,127.59 - R$ 40.2

  5. Slide 5: Operational Performance

    Earnings Release 2Q09 E Earnings i Release R l 2Q09 Highlights Operational Performance Fi Financial i l Performance P f 5

  6. Slide 6: Operational Performance: Line Availability

    Earnings Release 2Q09 O Operational ti l Performance P f Line Availability and “Parcela Variável” / RAP (%) Availability 99 98% 99.98% 99.97% -0.10pp ƒ Line availability y maintained stable at high g levels 0.58% 0.48% ƒ Resulting in a low “Parcela Variável”: 0.48% of the proportional RAP of the qua

  7. Slide 7: Operational Performance: Capex

    Earnings Release 2Q09 O Operational ti l Performance P f Capex (R$ million) ƒ Reinforcement Project (Serra da Mesa II): 1Q09 Capex does not reflect the physical progress p g of the p project: j R$15.6 $ million CAPEX/ 16.1% 15.8% EBITDA - Conclusion scheduled by 2H09 24.1 25.1 - Investment approved

  8. Slide 8: Financial Performance

    Earnings Release 2Q09 E Earnings i Release R l 2Q09 Highlights Operational Performance Fi Financial i l Performance P f 8

  9. Slide 9: Financial Performance: Highlights

    Earnings Release 2Q09 Fi Financial i l Performance P f Highlights (R$ million) 2Q09 1Q09 V Var. V % Var. Net Revenues 185.1 193.0 (7.8) -4.1% EBITDA 151.7 152.0 (0.3) -0.2% EBITDA Margin 82.0% 78.8% 3.2 pp Depreciation and amortization (30.5) (30.4) (0.1) 0.4% EBIT 121.2 121.6 (0.4) -0.3% Financial

  10. Slide 10: Net Revenues

    Earnings Release 2Q09 Fi Financial i l Performance P f Net Revenues (R$ million) -4.1% 4 1% 193.0 185.1 ƒ Terna Serviços: - R$13.3 R$13 3 million 1Q09 2Q09 +5.1% 5 1% 798.4 759.6 ƒ RAP Adjustment: +3.6% (IGP-M) ƒ RAP of reinforcement project of Serra da Mesa 2: R$5.3 million ƒ RAP 35% Brasnorte: R$5

  11. Slide 11: OPEX

    Earnings Release 2Q09 Fi Financial i l Performance P f OPEX (R$ million) -18.4% 40.9 33.4 22.6 8.5 ƒ Personnel Expenses: + R$3.7 million 13.2 ƒ Material M t i l Expenses: E - R$11.6 R$11 6 million illi 10.3 ƒ Third Party Services: + R$2.9 million 11.7 ƒ G&A and Other Expenses: - R$2.5 million 8.0 1Q

  12. Slide 12: EBITDA, EBITDA Margin and D&A

    Earnings Release 2Q09 Fi Financial i l Performance P f EBITDA (R$ million), EBITDA Margin (%) and D&A (R$ million) 78.8% 82.0% -0,2% 152.0 151.7 ƒ Without Terna Serviços, EBITDA Margin would be 87.6% in the 2Q09 1Q09 2Q09 +0.4% 30.4 30.5 ƒ Depreciation and Amortization in the 2Q09 in line with the 1

  13. Slide 13: Financial Revenues and Expenses

    Earnings Release 2Q09 Fi Financial i l Performance P f Financial Revenues and Expenses (R$ million) ƒ Lower debt expenses and revenues from -61.4% financial investments in the period (lower CDI rate) 37.4 ƒ Favorable F bl foreign f i exchange h variations i ti 14.4 ƒ Increase in the Other Financial

  14. Slide 14: Taxes

    Earnings Release 2Q09 Fi Financial i l Performance P f Taxes (R$ million) +16.2% ƒ Increase due to the higher EBT 19.6 22.7 1Q09 2Q09 14

  15. Slide 15: Net Income

    Earnings Release 2Q09 Fi Financial i l Performance P f Net Income (R$ million) +30.0% 84 0 84.0 64.7 ƒ Revenues: - R$7.8 million ƒ Financial Fi i l Expenses: E + R$23.0 R$23 0 million illi ƒ Income Taxes and Social Contribution: - R$3.2 million 1Q09 2Q09 15

  16. Slide 16: Debt and Net Debt Trends

    Earnings Release 2Q09 Fi Financial i l Performance P f Debt and Net Debt Trends (R$ million) 1,800 1,626 1,595 324 Breakdown of Debt 1,600 1 271 1,271 CDI 1,400 37.3% 1,200 BNDES 61% 60% (R$ milllion) Basket of 1 000 1,000 2.4 Currencies 2.2 6.1% 800 BNDES TJLP 600 56.7% 400 39% 40% Average Cost of

  17. Slide 17: Share Performance: TRNA11

    Earnings Release 2Q09 Fi Financial i l Performance P f 190 TRNA11 Signing of contract of sale of Acquisition of Brasnorte Shareholding Control IBOV 170 IEE A Acquisition i iti off ETEO Acquisition of ETAU 150 130 Payment of dividends 110 Payment of dividends Acquisition of GTESA e PATESA Payment of

  18. Slide 18: Q&A Contacts

    Earnings Release 2Q09 Q&A CONTACTS: E-mail: investor.relations@terna.com.br Phone: +55 21 2212-6000 Site: www.terna.com.br 18

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