Companhia De Gas De Sao Paulo - Comgas · BMFBOVESPA:CGAS3
Companhia De Gas De Sao Paulo - Comgas — Companhia de Gás de São Paulo - Comgás — Q2 2017 Earnings Presentation
21 slides from Companhia De Gas De Sao Paulo - Comgas's earnings presentation, Jun 30, 2017
Slide 1: Institutional Presentation
| Institutional Presentation | June 30th 2017
Slide 2: Disclaimer
Disclaimer This presentation contains estimates and forward-looking statements regarding our strategy and opportunities for future growth. Such information is mainly based on our current expectations and estimates or projections of future events and trends, which affect or may affect our business an
Slide 3: Company Overview
comgos Company Overview
Slide 4: History
History More than a hundred years of history 2017: More than 1.7 2012: Cosan acquires 60.1% million customers of Comgás’ social capital connected to the from British Gas (BG) network 2010: Comgás is consolidated as Brazil’s largest natural gas distributor responsible for more than 30% of the sales o
Slide 5: Shareholder Structure
Shareholder Structure Shell Gas BV 100% Cosan S.A. Indústria Shell Brazil Holding Integral Investments Others e Comércio BV BV (free float) 63.11% 5.84% 10.93% 20.12% 5
Slide 6: Highlights
Highlights Premium Asset Robust concession located in a strategic regime area Favorable prospects ZERO INJURY Potential in the for natural gas in AND HIGH residential and Brazil PERFORMANCE commercial segments Strong capital Diverse consumer structure base 6
Slide 7: Premium Asset
Premium Asset Concession Area 177 Cities COMGÁS NATURAL • Less than 1% of the Brazilian geographic area GAS SPS Approximately 26% of the GDP and 30% of the gas G distributed in Brazil Santa Cruz de La Sierra Corumbá G Rio de G Campo Janeiro High population density G Grande Campinas • 30.9 million pe
Slide 8: Growth Since Privatization
Growth Since Privatization Net Revenue R$ mm Volume bi m³ CAPEX R$ mm 5.657 463 4.3 1.3 341 50 1999 2016 1999 2016 1999 2016 Network Km Municipalities Meters 1,131,710 15,307 87 314,034 17 2,500 1999 2016 1999 2016 1999 2016 8
Slide 9: Regulation
Regulation REGULATED PRICES AND TARIFFS RULES Market Customers Production and Transportation: Residential and Commercial ANP (Federal) (low volume) .................. Distribution: Trading and distribution during the concession period ARSESP (State) As a public service provider, Comgás’ activities O
Slide 10: Volume
Volume In millions of m³ 754 938 924 4.6% 204 4,703 4,520 4,287 4,119 1,032 1,080 2013 2014 2015 2016 2Q16 2Q17 Ex-Thermal Thermal Generation Generation Volume Normalized Margin 6% 10% 5% 7% 54% 79% 3% 32% 2% 2% 10
Slide 11: Natural Gas Supply
Natural Gas Supply Contracts Contracts TCQ Firm Modality Firm Firm Gas Source Petrobras System Petrobras System DCQ 8.10 MMm³/day 5.22 MMm³/day End of Contract Jul/19 Dec/19 Daily contracted quantity 13.3 million m³ Daily demanded quantity 11.7 million m³ 11
Slide 12: Segments: Residential, Commercial
Segments RESIDENTIAL COMMERCIAL 1.7 million residential customers More than 16 thousand customers Geographic expansion capturing around Focus on small and medium businesses 106,000 new customers in the last 12 months New real estate projects New construction processes Agility in new customer connect
Slide 13: Segments: Industrial, Automotive
Segments INDUSTRIAL AUTOMOTIVE Portfolio of over 1,173 clients 261 gas stations Savings and environmental benefits Expansion in the small and medium Focus on heavy users (taxis and fleets) industry Partnerships with suppliers, dealers and New applications: forklifts fleet owners Partnership with Inv
Slide 14: Segments: Cogeneration, Thermal Generation
Segments COGENERATION THERMAL GENERATION 26 Customers 2 Plants Efficiency and energy security in the medium and long term Partnership with suppliers seeking to reduce Demand depends on the thermal dispatch level the installation cost (determined by the Government) Gas contracts back to back Developm
Slide 15: Financial Highlights
comgos Financial Highlights
Slide 16: Financial Performance
Financial Performance CAGR (00-16) 16.6% 38% (43%) EBITDA 1,965 1,530 1,465 1,403 1,336 1,435 1,378 1,303 1,176 968 641 460 334 366 107 2000 ... 2012 2013 2014 2015 2016 2Q16 2Q17 CAGR (00-16) 15.9% 66% (56%) Net Revenue 901 699 619 601 612 620 526 546 555 330 370 204 45 146 123 2000 ... 2012 2013 2
Slide 17: Regulatory Current Account
Regulatory Current Account In millions of R$ 293 223 243 209 211 211 117 -78 -268 -354 -391 -414 -451 Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun 2014 2015 2016 2017 17
Slide 18: Investments
Investments In millions of R$ 852 (11%) 662 616 510 521 464 405 (2%) 109 107 100 2000 ... 2010 2011 2012 2013 2014 2015 2016 2Q16 2Q17 18
Slide 19: Debt Structure
Debt Structure In thousands of R$ June 2017 December 2017 Short Term Debt 820.815 464.938 Long Term Debt 2.726.738 3.168.000 Total Debt 3.547.553 3.632.938 (-) Cash and Marketable Securities 2.176.999 2.310.821 (=) Net Debt 1.370.555 1.322.117 EBITDA (*) 1.482.685 1.964.726 Normalized EBITDA (*) 1.6
Slide 20: Guidance
Guidance 2016 2017 Guidance Actual Min Max Total customers (thousand) 1,685 1,785 1,805 Volume ex-thermal (mm m³) 4,119 4,000 4,300 EBITDA Normalized (R$mm) 1,465 1,550 1,650 CAPEX (R$mm) 464 450 500 20
Slide 21: Investor Relations
INVESTOR RELATIONS investidores@comgas.com.br ri.comgas.com.br Phone: (11) 4504-5065 | comgas.com.br NELSON GOMES CEO RAFAEL BERGMAN CFO and IRO PAULO BELEM Treasury and Investor Relations Manager Av. Brigadeiro Faria Lima, nº 4100, 14º andar – Itaim Bibi - CEP 04538-132 / São Paulo - SP - Brasil
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