Slide 1: Earnings Results Presentation - 1Q21
Earnings Results Presentation - 1Q21 May 14, 2021
Slide 2: New Board of Directors elected on April 29
New Board of Directors elected on April 29 Firmino Sampaio Chairperson Ana Abel Helio Lavinia Vanessa Vinicius Wilson Yuiti Toni Rochinha Ferraz Hollanda Claro Roriz Poit Lopes Deputy Chairperson 2
Slide 3: Selected highlights
Selected highlights GenCo and Trading are the quarter’s highlight Reduced legal contingencies and improved collection on DisCo, despite the challenges still present due to the pandemic Total losses 555 GWh increased in 1Q21, due to higher average Consolidated EBITDA of R$429.8 mln, down 9.9% vs. 1Q2
Slide 4: Grid load and Billed market
Grid load and Billed market Grid load Billed Market Billed market by segment GWh GWh GWh Δ: +4.4 % Δ: -1.7% 7,194 7,071 546 374 10,841 9,855 7,708 7,194 965 908 1,305 1,377 2,025 1,910 2,353 2,501 1Q20 1Q21 1Q20 1Q21 1Q20 1Q21 Resideniial Commercial Industrial Others Concessionaries Grid load and Bi
Slide 5: Losses combating | Total Losses (12 months)
Losses combating | Total Losses (12 months) Pandemic Covid-19 28.2% Comprehensive capture of the effects of the 26.7% 26.8% 26.6% 26.8% 26.8% pandemic on losses and grid load indicators 26.0% 26.1% 26.1% 27.2% in the last 12 months (2Q20 to 1Q21) 25.8% 25.9% 26.0% 26.0% 24.5% 25.9% 25.4% 25.3% 10,10
Slide 6: Losses combating | Non-technical losses (GWh, 12 months)
Losses combating | Non-technical losses (GWh, 12 months) 7,134 6,683 6,609 6,532 59,87% 6,351 10000,0 60,00% 2,714 2,595 2,201 2,210 2,097 55,30% 55,36% 55,01% 62% 54,37% 54,53% 61% 65% 67% 68% 52,92% 52,92% 52,68% 9000,0 55,46% 51,25% 51,86% 52,05% 51,54% 46,90% 50,25% 50,82% 8000,0 49,53% 4,399 4,
Slide 7: Performance in combating losses
Performance in combating losses 600 New IEN method 900 500 553 New IEN calculation methodology, 400 500 363 355 changed to verify the real gain of actions to 312 290 312 269 combat losses over 12 months 300 209 235 200 237 100 186 200 100 127 50 123 117 21 28 30 84 28 105 19 85 17 86 27 16 22 45 64
Slide 8: Improvement of collection and slight increase in Bad debt indicator
Improvement of collection and slight increase in Bad debt indicator Collection (12 months) Bad debt/Gross revenue (12 months) 7.1% 6.6% 5.4% 101.4% 102.3% 97.7% 98.3% 95.0% 95.7% 92.3% 93.1% 3.3% 3.8% 3.9% 4.0% 2.3% Retail Large Clients Public Sector Total mar/20 jun/20 sep/20 dec/20 mar/21 december
Slide 9: Operational quality continues with good results
Operational quality continues with good results 19 DEC 12 months (hours) 17 15 13 9,8 11 8,99 8,88 8,73 8,54 8,23 8,14 8,14 8,14 8,14 8,02 9 1.3% reduction compared to 1Q21, 7 showing investments assertiveness 5 3 and field teams good performance 1 13,74 13,97 12,69 10,13 8,85 8,84 7,78 7,03 6,66 7,
Slide 10: Consolidated adjusted EBITDA of R$419.8 mln, 9.9% lower compared to 1Q20
Consolidated adjusted EBITDA of R$419.8 mln, 9.9% lower compared to 1Q20 Amounts in R$ mln - R$45.9 614.9 -649.5 -2.5 -8.8 465.7 419.8 Adjusted EBITDA 1Q20 Net Revenue Non Manageable Manageable Expenses Provisions Adjusted EBITDA 1Q21 Expenses (PMSO) 10
Slide 11: Reduction due to the lower EBITDA of DisCo, although the other segments show better results
Reduction due to the lower EBITDA of DisCo, although the other segments show better results Amounts in R$ mln - R$45.9 -109.9 12.8 51.7 465.7 419.8 Recurring EBITDA 1Q20 EBITDA Light SESA EBITDA Light Energia EBITDA LightCom Recurring EBITDA 1Q21 Lower EBITDA of DisCo mainly due to the increase in l
Slide 12: Positive development of judicial contingencies
Positive development of judicial contingencies Provisions – Legal contingencies (R$ mln) Number of JEC processes (thousand) 22.4 1Q21 1Q20 19.4 18,8 17.8 JEC (29.6) (34.3) 16.3 12.7 Cível (26.4) (41.9) 11.6 11.9 11.0 9.6 9.7 8.9 8.1 Ohters 2.7 (9.8) 7.8 4.8 Adjustments¹ - 12.4 Total (53.3) (73.6) 1Q
Slide 13: Loss of R$41.8 mln due to negative financial result
Loss of R$41.8 mln due to negative financial result Amounts in R$ mln - R$208.5 -45.9 166.8 -288.7 -41.8 20.1 -1.1 107.1 1Q20 Result Recurring EBITDA Financial Results Taxes Depreciation Equity Income 1Q21 Result Financial result mainly impacted by the mark-to-market of debt swap operations (non-cas
Slide 14: Robust cash position to meet debt maturities
Robust cash position to meet debt maturities Amortization of Consolidated Debt (R$ mln) Debt (R$ mln) and Net Debt/EBITDA (x) Average 4.058 Maturity 2,1 years 18.000 16.000 3,75 3,07 3,75 3,75 3,75 4,00 3,50 14.000 3,00 3.057 12.000 2,40 2,50 10.000 8.724 8.567 8.386 7.694 1,73 2,00 2.072 8.000 6.69
Slide 15: Positive evolution of the corporate rating combined with Light's best capital structure
Positive evolution of the corporate rating combined with Light’s best capital structure AAA AAA Aaa AA+ AA+ Aa1 Jul/18 AA AA Aa2 AA- Jan/21 AA- Aa3 A+ A+ A1 Mai/21 Apr/18 A Mar/18 A Sep/19 A2 A- A- A3 BBB+ BBB+ Sep/18 Baa1 BBB BBB Baa2 BBB- BBB- Baa3 15
Slide 16: Completion of the 100-day Plan
Completion of the 100-day Plan ORGANIZATIONAL PROCESS REVIEW INSTITUTIONAL BUDGET REVIEW SYSTEM STRUCTURE SUITABILITY Strong leadership, Optimization of processes Reinforcement of the Review of assumptions Be technology-intensive reviewing processes and and resources, and Concession Enforcement and
Slide 17: Main achievements of the 100-day Plan
Main achievements of the 100-day Plan FINANCE AND IR DISTRIBUTION LEGAL AND PEOPLE AND ADMINISTRATIVE REGULATION, ENERGY INSTITUTIONAL CORPORATE AND AND RELATIONS MANAGEMENT CONTROLLER COMMERCIALIZATION Preparations for the Follow on Centralization of Creation of the Implementation of the Investment
Slide 18: Cornerstones
Dynamics improvement on the commercial area Ladeira dos Tabajaras Work plan with communities to reduce Energy recovery actions and receivables integration losses and increase collection preview with target selection process and collection rate Procedures’ review and training of teams with new techni
Slide 19: Legal disclaimer
Legal disclaimer This presentation may include declarations that represent forward-looking statements according to Brazilian regulations and international movable values. These declarations are based on certain assumptions and analyses made by the Company in accordance with its experience. the econo
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