Post on 21-May-2015
CPFL Energia is a holding company that, through its subsidiaries,
distributes, commercializes and generates energy in Brazil,
standing as the largest private group in the Brazilian electric
sector. Its subsidiaries are widely recognized for its excellence and
the sustainability of their business practices and are regarded as
benchmarks in management, quality and operating efficiency.
After the (IPO) in September 2004, CPFL Energia became the first
private Brazilian company to simultaneously trade on the São Paulo
Stock Exchange (Bovespa Novo Mercado) and on the NYSE as Level
III ADR, both requiring the highest levels of Corporate Governance
practices.
Corporate Structure
Corporate Profile
1 Includes Camargo Correa S.A. stake
Free Float25.7% 31.1% 12.7% 30.5%
99.99%
89.81%
99.95%
90.15%
48.72%
25.01%
96.56%
90.15%
87.80%
89.75%59.93%
5.91%
Paulista Lajeado
Investco
Service Territory
On April 30, 2009, dividends for the 2H08, on
the amount of R$ 606 million, corresponding
to R$ 1.26 per share, were paid . Adding the
dividends for the 1H08 (paid in Sep/08), the
total declared amount for the full year of 2008
was R$ 1.2 billion, which corresponds to R$
2.52 per share approximately. This dividend
represent 95% of CPFL net profit, a measure
which surpasses the current dividend policy
which stipulates a payout of not less than 50%
of net income adjusted half-yearly.
The 2H08 dividend yield, calculated on the
average share price in the period (R$ 33.38) is
7.3% (last 12 months).
Dividends Dividends and Dividend Yield
Declared Dividend¹ (R$ million)
Dividend Yield² (last 12 months)
Since the IPO (2H04), CPFL Energia’s dividend yield has already reached 64.3%3
1Payment in the next half year | 2Considering last two half-year’s dividends yield | 3IPO price per share: R$ 17.22
722
2H06
498
2H05
401
1H05
140
2H04 1H07
842
2H07
719
1H08
602
2H08
606612
1H06
3.7%
9.1% 8.7% 9.6% 10.9% 9.7%7.6% 7.3%6.5%
16.58
23.33
30.05 28.2531.74
35.99 36.11 33.38
18.85
CPFL Price ($/ON) - Average
Financial Performance Net Revenue (R$ million) Ebitda (R$ million) Net Income (R$ million)
Debt breakdown - 1Q09Adjusted Net Debt/EBITDA3 (R$ billion)
Net Debt /EBITDA
3 Last 12 monts EBITDA.
CPFL Energia’s success is supported by clearly defined
business strategies and by management excellence
criteria directed to the sustained growth of its
businesses.
Value Creation Agenda Goals
Value
Liquidity
Security
StrategiesOperational Efficiency
Synergic Growth
Financial Discipline
Sustainability and Corporate Responsibility
Differentiated Corporate Governance
Total Energy Sales – GWh1
Captive Market
Free Market
Sales by Customer Class2 – 1Q09
1 Excluding transactions between group’s companies (consolidation accouting criteria), CCEE and generation sales (except to the free market) | 2 Captive Market
Note: Numbers already incorporate the impacts of Law 11,638/07 and PM 449/08
Market
Fact Sheet 1Q09 | CPFL Energia
Adjusted Net Debt
28.0% Industrial
33.6% Residential
20.0% Commercial
18.4% Others
* Hedge Natural.
4.395.65 5.59
3.78 3.704.42
5.09
2006200520042003 2008 1Q092007
2.85 2.251.74 1.57 1.53
2.01 1.98
2.0% Dollar*
10.2% IGP
57.4% CDI
30.4% TJLP
1Q08
3.2% Dollar*
15.7% IGP
51.4% CDI
29.0% TJLP
1Q09
2,3922,484
1Q08 1Q09
-3.7%
646659
1Q08 1Q09
2.0%
265283
1Q08 1Q09
6.5%
1Q08 1Q09
3.6%11,253
9,168
2,085
11,661
9,333
2,328
1.77: excluding Foz do Chapecó
HPP debt
CPFL Energia adopts differentiated practices of Corporate
Governance, based on the principles of transparency, fair
ness, accountability and corporate responsibility.
Shares are listed on Bovespa’s Novo Mercado and ADS’s Level III on the New York Stock Exchange
100% of Common Shares with 100% of Tag Along
Free Float of 30.5%
Subsidiary Companies’ Bylaws aligned to CPFL Energia Bylaws
Financial Statements in compliance with US GAAP and BR GAAP standards
Report in consensus with Global Reporting Initia tive - GRI
Board of Directors consists of seven members, one being independent
3 Board Advisory Committees to the Board of Directors
Board of Directors and Fiscal Council self-evaluation
Review of Ethics and Corporate Conduct based on recom mendations in the Sarbanes-Oxley Act
CPFL complies with section 404 of the Sarbanes-Oxley Act
Corporate Governance
CPFL Energia believes that the pursuit of sustainability is a process
that demands the constant and innovative management of economic,
environmental and social impacts together with the maintenance of
ethical and transparent relationships with all its stakeholders.
The company has a management model structured on a diversity of
programs classified in the following groups:
Sustainability and Corporate Responsibility
Environment Environmental education for the communities Conservation of biodiversity Conscientious corporate consumption. New Clean Development Mechanism
Technologies and Projects (MDL)
Community CPFL Program of Volunteerism Municipal Council Support Program for the
Rights of Children and Adolescents (CMDCA) The CPFL Program for the Revitalization of
Philanthropic Hospitals
Internal Personnel
Program of Reflection and Ethical Management Respect for Diversity Program
Value Chain
Knowledge Management
Value Network The Tear Program
CPFL Culture Communications for Sustainability
CPFE3 (R$) CPL (US$)Shares Price 31.50 40.57 Maximum – 52 weeks 41.95 76.40Minimum – 52 weeks 26.83 35.27
Market Cap R$ 15.1 Billion US$ 6.5 Billion
Market Cap 479,910,938Exchange Rate 2 R$/US$ 2.32
Shares’ Information1
03/31/2009
Investor RelationsCPFL Energia – Rodovia Campinas Mogi-Mirim, km 2,5 | Zip Code 13088.900 | Campinas | SPPhone: 55 19 3756-6083 | Fax.: 55 19 3756-6089 | www.cpfl .com.br/ir | ri@cpfl.com.br
1 Without income adjustments | 2Dollar Ptax
Ownership breakdown
69.5% Controlling block
30.5% Free-float
Fact Sheet 1Q09 | CPFL Energia