presentation 4q12

Your energyINSPIRES US1

2012 Results PresentationSão Paulo, February 26 2012


Capital Market Performance

2012 Results

CTEEP


CTEEP Profile

A estratégia da CTEEP é baseada no crescimento sust entável com foco na contínua criação de valor� 13,723 Km of transmission lines;

� 18,794 Km of circuits;

� 2,488 Km of optic fiber cables

� 106 substations.

Responsible for the annual

transmission of 28.0% of all

electricity produced in the country,

60% of the energy consumed in the

Southeast Region and nearly 100%

in the state of São Paulo;

The largest private sector concessionaire operating a public

utility service for the transmission of energy in Brazil,

controlled by ISA, one of the largest energy transmission

groups in Latin America.


Expansion of national Territory

A estratégia da CTEEP é baseada no crescimento sust entável com foco na contínua criação de valor

� Largest Non-stop Transmission

Lines under construction in the

world (IEMadeira)

� Starting in the continuous current

technology

� Relevant Interconnection Projects

in the North of Brazil

� Major supporting Works in the

South and Southeast of Brazil

In Operating

In Construction

EVRECY*

Acquisition of Assets


53.86%

10.59%

7,22%

Preferred Shares– TRPL4(58% of the total)

89.50%

9.75% 0.75%

Ordinary Shares- TRPL3(42% of the total)

ISA Capital do Brasil

Eletrobrás

Others Shareholders

Total Capital Stock

Eletrobrás

Secretaria da Fazendado Estado

Others Shareholders

Shareholder Breakdown–31/12/12

Vinci

53.86%

37.81%35.23%

16.67%

6.12%

4.17%

Eletrobrás

Secretaria da Fazendado Estado

Others Shareholders

Vinci

ISA Capital do Brasil



2012 Results

CTEEP


Results

2011 2012Var %

2011x20122011 2012

Var %

2011x2012

Gross Operating Revenue 2,302.7 2,169.4 -5.8% 3,268.7 3,173.9 -2.9%

Revenue from Construction Services 265.4 149.3 -43.7% 1,103.7 976.7 -11.5%

Revenue from Operational and Maintenance Services 540.6 587.2 8.6% 555.1 594.7 7.1%

Financial Revenue 1,477.0 1,412.6 -4.4% 1,590.0 1,584.8 -0.3%

Others 19.7 20.3 3.0% 19.9 17.7 -11.1%

Deductions from Operating Revenue -276.9 -281.0 1.5% -367.9 -354.9 -3.5%

Net operating revenue 2,025.8 1,888.4 -6.8% 2,900.8 2,819.0 -2.8%

Other General and Administrative Expenses -699.1 -729.7 4.4% -1,444.3 -1,433.7 -0.7%

Other Operating (Expenses) - Income - ex goodwill -2.1 84.1 -4104.8% -2.0 86.6 -4430.0%

Equity 57.6 98.1 70.3% - - 0.0%

EBITDA 1,382.3 1,340.8 -3.0% 1,454.6 1,471.9 1.2%

% Margem EBITDA 68.2% 71.0% 4.1% 50.1% 52.2% 4.1%

Depreciation -34.9 -33.8 -3.2% -34.9 -33.8 -3.2%

EBIT 1,347.4 1,307.0 -3.0% 1,419.7 1,438.1 1.3%

Financial Results -158.9 -123.8 -22.1% -200.5 -211.4 5.4%

Operating Income 1,188.4 1,183.3 -0.4% 1,219.1 1,226.7 0.6%

Income tax and social contribuition -273.1 -339.8 24.4% -303.8 -383.2 26.1%

Net Income 915.3 843.5 -7.8% 915.3 843.5 -7.8%

Results

(R$ million)

COMPANY CONSOLIDATED


Gross Operating Revenue


(R$ million)

265.4 149.3

540.6 587.2

1,477.0 1,412.6

19.720.3

2,302.72,169.4

2011 2012Construction Operation and Maintenance Financial Others

1,103.7 976.7

555.1 594.7

1,590.0 1,584.8

19.9 17.7

3,268.7 3,173.9

2011 2012

Construction Operation and Maintenance Financial Others

Company Consolidated


Costs and Expenses


2011 2012Var %

2011x20122011 2012

Var %

2011x2012

Personnel -204.2 -241.8 18.4% -210.8 -253.8 20.4%

Material -171.8 -157.5 -8.3% -705.3 -549.5 -22.1%

Services -264.3 -227.4 -14.0% -467.8 -520.5 11.3%

Other -64.9 -108.1 66.5% -66.5 -114.8 72.7%

Total -705.2 -734.8 4.2% -1,450.4 -1,438.7 -0.8%

Cost and Expenses

(R$ '000)



Other Operating Income and (expenses)(ex Goodwill)

Note: Excludes the amortization of goodwill of $ 28.8 million

2011 2012Var %

2011x20122011 2012

Var %

2011x2012

Update VNR accounts receivable NI and SE - 4,444.5 - - 4,444.5 -

Lower accounts receivable Built NI and SE - -2,724.6 - - -2,724.6 -

Recognition of provision at cost - SE - -1,535.3 - - -1,535.3 -

Low values in replacement stock investments - NI SE - -87.1 - - -87.1 -

Others (2.1) -13.4 538.1% (2.0) -10.9 445.0%

Total -2.1 84.1 -4104.8% (2.0) 86.7 -4435.0%

ConsolidatedOther Operating Income and (Expenses)

(R$ million)

Company


Ebitda and Ebitda Margin


(R$ million)

2011 2012Var %

2011x20122011 2012

Net Income 915.3 843.5 -7.8% 915.3 843.5 -7.8%

Income tax and social contribuition 273.2 339.8 24.4% 303.8 383.2 26.1%

Financial Results 159.0 123.8 -22.1% 200.5 211.4 5.4%

Leases and rentals 34.9 33.8 -3.2% 34.9 33.8 -3.2%

EBITDA 1,382.3 1,340.8 -3.0% 1,454.6 1,471.9 1.2%

EBITDA Margin 68.2% 71.0% 2.8 p.p 50.1% 52.2% 2.10 p.p

EBITDA - ICVM 527 Var %

2011x2012



Financial Result

(*) Includes charges, income and foreign exchange hedges on CCB International and Commercial Paper.

2011 2012Var %

2011x20122011 2012

Var %

2011x2012

Short-term investment yield 16.7 24.1 44.5% 25.6 29.9 16.9%

Income / Expenses from financial operations (*) -183.9 -200.3 8.9% -214.4 -288.7 34.7%

Foreign exchange varations - 45.7 - - 45.7 -

Others 8.3 6.7 -19.2% -11.7 1.6 -114.1%

Total -158.9 -123.8 -22.1% -200.5 -211.4 5.5%

Financial Result

(R$'million)



Net Income


(R$ million)

915.3 843.5

-

350.0

700.0

2011 2012


Accounts Receivable (concession assets)

Receivables from Construction services 260.6 41.2 2,800.4 3,102.2 5,306.3

SE - - - - 1,949.4

NI - - - - 1,408.0

NIA 260.6 - - 260.6 -

Outros - 41.2 2,800.4 2,841.6 1,948.9

Receivables from O&M services (b) 258.3 2.0 8.9 269.2 244.1

Accounts Receivable Compensation (Existing

System - SE and New Investments - NI) - MP 579 5,975.4 - - 5,975.4 -

SE 3,026.3 - - 3,026.3 -

NI 2,949.1 - - 2,949.1 -

Accounts Receivable by reversal (d) 1.0 0.1 103.8 104.9 1,259.4

SE - - - - 175.4

NI - - - - 1,043.7

NIA 1.0 - - 1.0 -

Outros - 0.1 103.8 103.9 40.3

Allowance for Doubtful Accounts (1,535.3) - - (1,535.3) -

TOTAL 4,960.0 43.3 2,913.1 7,916.4 6,809.8

Accounts Receivable

(concession assets) (R$ million)

Contract

059/2001

Contract

143/2001

Contract

Subsidiaries2012 2011


Breakdown of Net Debt


2011 2012 2011 2012

Debt 1,904.6 2,247.7 2,771.4 3,694.5

Short-term Debt 861.7 1,064.2 1,397.5 1,302.2

Long-term Debt 1,042.9 1,183.5 1,373.9 2,392.2

Cash 151.0 296.5 207.3 429.2

Cash 151.0 296.5 207.3 429.2

Net Debt 1,753.6 1,951.2 2,564.1 3,265.2

EBITDA 1,382.3 1,340.8 1,454.6 1,471.9

Covenant (Dívida Líquida/EBITDA) - - 1.8 2.2

Debt

(R$million)


BNDES

39.1%

Comercial

Papers

16.6%

Debêntures

35,6%

Banks

12,2%

Distribuition of

debt contracting

TJLP

39.1%

CDI

45.3%

IPCA

2,0%

Others

12,0%

Distribuition of debt

burdens


Debt Repayment

1,064.23 1,056.3

92.9 17.1 17.1 0.1

238.0 111.0

82.1 85,1 89.2

841.3

1,302.2 1,167.3

175.0 102,2 106.3

841.4

2013 2014 2015 2016 2017 Após 2017

Company Subsidiaries

(R$ million)


Investments

In 2012, investments made by CTEEP in

upgrading, modernization and

improvements to existing assets, in the

capitalization of labor and injection in

subsidiaries totaled R$ 952.2 million , a

reduction of 14.5% when compared to

investments made in 2011 when this item

was R$ 1.114.0 million.

� Investment Plan 2013� 2012

(R$ million) 2013

Proprietary (A) 283.1

Complementary Projects and New Connections 174.2

PMT / PMIS 86.3

Corporative 9.7

Capitalization of Labor Costs 12.9

Investments - Subsidiaries (B) 674.3

IEMG 3.0

IENNE 0.6

IEPinheiros 37.9

IESul 20.2

IEMadeira 343.3

Serra do Japi 2.3

IEGaranhuns 258.4

Evrecy 8.6

TOTAL (A+B) 957.4



2012 Results

CTEEP


Capital Market

� Present on all trade days;

� Component of Ibovespa;

� R$ 5.8 billion market capitalization.

40.00

60.00

80.00

100.00

120.00

140.00

Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

TRPL3 TRPL4 IBOVESPA IEE

MP

57

9

MP

59

1

Po

rta

ria

s In

term

inis

teri

ais

57

9 e

58

0

-11.72%

+7.40%

-43.11%

-17.59%


Capital Market

0.0

20.0

40.0

60.0

80.0

100.0

120.0


Trading Financial 2012(R$ million)

Total R$ 3,589 million Daily Avarege / Day R$ 14.5 milhões

- 1,000 2,000 3,000 4,000 5,000 6,000


Trade Volume 2012(units)

Total Trades: 309,481 Daily Avarege/ Day: 1,248


Disclaimer


All statements contained herein with regard to the Company’s

business prospects, projected results and the potential growth

of its business aremere forecasts, based on local management

expectationsin relation to the Company’s future performance.

Dependent as they are on market shifts and on the overall

performance of the Brazilian economy and the sector

and international markets, such estimates

are subject to changes.


Investor Relations

Phone: 55 11 3138-7557

[email protected]

www.cteep.com.br/ri

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