COMPANHIA DE GÁS DE SÃO PAULO

Transcription

1 COMPANHIA DE GÁS DE SÃO PAULO Financial and Operational Results June 30 st,

2 Disclaimer The statements contained in this report regarding the outlook on business, estimations on financial and operational results and growth prospects for COMGÁS are merely estimations and, as such, are based exclusively on management expectations regarding future events and tendencies, that affect or may affect the business. These estimations are subject to many risks and uncertainties and are made considering the information currently available, and depend, substantially on market conditions, the Brazilian economy's performance, the business sector and international markets, and are therefore subject to change without prior notice. Because of these uncertainties, the investor should not make any investment decisions based on these estimations and declarations on future operations.

3 Financial and Operational Highlights

4 Highlights 2Q14 Strong operational delivery, higher connections in the residential (including pools), commercial and industrial segments, as well as higher level of NGV conversions; Industrial market volume impacted by low economic activity and by the World Cup; High temperatures and lower water consumption negatively impacted the residential market volume; Investments of R$164 million in the quarter with 15% growth in the network, reaching 439 km added during 2Q14; EBITDA normalized by the regulatory current account of R$339 million, 14% lower than in 2Q13 when the sale of the old Mooca operating site occurred, in the amount of R$65 million; Recovery of R$73 million in the regulatory current account, during 2Q14, totaling R$124 million recovered in the year; Achievement of all regulatory/operational targets defined for the cycle, except for the volume of natural gas distributed. 4

5 Operational Delivery Residential Commercial NGV 31,911 4% 3% 15% 33, Connections Connections Conversions Industrial Pools Network 6% 39% 15% Connections Connections Additions - Km 2Q13 2Q14 5

6 Meters Total per Segment 2Q14 1Q14 2Q13 2Q14 X 1Q14 2Q14 X 2Q13 989, , ,418 RESIDENTIAL 1.9% 7.9% 1,388,413 1,355,224 1,261,587 NUMBER OF UDA's* 2.4% 10.1% 13,065 12,715 11,778 COMMERCIAL 2.8% 10.9% 1,029 1,033 1,012 INDUSTRIAL -0.4% 1.7% THERMAL GENERATION 0.0% 0.0% COGENERATION 0.0% 0.0% AUTOMOTIVE -1.6% -2.9% 1,003, , ,546 TOTAL METERS 1.9% 8.0% 1,402,836 1,369,306 1,274,715 TOTAL CUSTOMERS 2.4% 10.1% *UDA s (householders) 6

7 Volume per Segment 2Q14 2Q13 2Q14 x 2Q13 YTD14 YTD13 YTD14 x YTD13 57,304 58, % RESIDENTIAL 95, , % 30,487 30, % COMMERCIAL 57,809 55, % 925, , % INDUSTRIAL 1,838,735 1,887, % 78,086 85, % COGENERATION 152, , % 55,860 63, % AUTOMOTIVE 108, , % 1,147,556 1,196, % TOTAL 2,253,688 2,334, % MMm 3 /day , , % THERMAL GENERATION 458, , % 1,399,399 1,431, % TOTAL 2,712,464 2,798, % Volume Markets Margin 2% 2% 18% 8% 1,4 bi m³ 4% 4% 6% 66% 1% 24% 3% 62% 1,03 mi R$ Industrial Cogeneration Automotive Residential Commercial Thermal Generation 7

8 Financial Performance in million of R$ -14% EBITDA Q13 2Q14 Normalized IFRS -30% Net Income Q13 2Q14 Normalized IFRS 8

9 Investimentos Investments in million of R$ -19% YTD: 394 YTD: 320 2Q: % 2Q: 164 June 2013 June 2014 Main Projects Osasco II Itaquera Guarulhos Mogi das Cruzes São Jose dos Campos II Taubaté New Projects Santos Noroeste Santo André 9

10 Estrutura de Endividamento Debt Structure in thousands of R$ June 2014 December 2013 Short Term Debt Long Term Debt Total Debt (-) Cash (=) Net Debt EBITDA(*) Net Debt/ EBITDA 1,34 1,49 Short Term Debt / Total Debt 0,13 0,15 Debt Amortization Schedule (R$ mm) Debt Composition Jun/ forward Debentures 22% Others 8% BNDES 48% EIB 22% Local Currency Foreign Currency 10 *EBITDA considering the last 12 months

11 Regulatory Current Account in million of R$ 11

12 Cost of Gas Comparison GBD R$0.70/m³ GASMIG R$0.73/m³ CEG (MFN) R$0.74/m³ Gas Sul R$0.76/m³ COMGÁS R$0.79/m³ Source: Cost approved in the tariff by either the Regulatory Agency or the State 12

13 Guidance Realized Mín Máx Total Customers (thousand) 1,334 1,420 1,450 Total Volume (thousand m³) 5,457 5,200 5,700 EBITDA IFRS (R$mm) 1,403 1,300 1,550 Capex (R$mm)

14 Cycle Network Network Renewal Volume 13% 8% -5% 5, ,602 4, ,346 Addition - Km Km million/m³ New Customers (thousand) Costumers Satisfaction Security TRCF* % % % 0 Meters UDAs Regulatory Plan Actual 14 *Total recordable case frequency: number of incidents involving death, work leave, limited work, or medical treatment per million man-hours worked, accumulated since the beginning of the year.

15 INVESTOR RELATIONS ri.comgas.com.br (11) ROBERTO LAGE CFO and IRO ANDRÉ MENEGUETI Investor Relations Manager Phone: Av. Pres. Juscelino Kubitschek, nº 1327, 15º andar - Vila Nova Conceição - CEP / São Paulo - SP - Brasil