Light S.a. · BMFBOVESPA:LIGT3
Light — Q3 2018 Earnings Presentation
12 slides from Light's earnings presentation, Nov 13, 2018
Slide 1: 3Q18 Earnings Results
3Q18 Earnings Results Rio de Janeiro 1 Novembro 13th, 2018
Slide 2: Operational Highlights
Operational Highlights Billed Market - GWh Billed Market - GWh 1.5% 8.6% 21.179 20.752 21.072 -0.5% 6.287 6.455 5.946 2.7% 3Q16 3Q17 3Q18 9M16 9M17 9M18 DEC - Hours (12 months) FEC - Times (12 months) -32.8% -24.9% 11,42 10,28 7,67 -25.4% 6,52 5,54 4,60 -23.0% 3Q16 3Q17 3Q18 3Q16 3Q17 3Q18 5th ANEEL
Slide 3: Financial Highlights
Financial Highlights Net Revenue - R$ MN Net Revenue - R$ MN 35.0% 31.8% 7.473 8.614 6.534 15.3% 2.627 2.993 2.217 13.9% 3Q16 3Q17 3Q18 9M16 9M17 9M18 PMSO - R$ MN PMSO - R$ MN -0.8% 3.7% 705 763 731 -4.2% 254 244 252 3.3% 3Q16 3Q17 3Q18 9M16 9M17 9M18 3
Slide 4: Financial Highlights
Financial Highlights EBITDA - R$ MN EBITDA - R$ MN 7.7% 34.4% 1.206 1.254 4.0% 933 503 311 335 -33.4% 3Q16 3Q17 3Q18 9M16 9M17 9M18 Net Earnings - R$ MN Net Earnings - R$ MN 73 59 121.2% 33 6 -89.8% -62 -119 3Q16 3Q17 3Q18 9M16 9M17 9M18 4
Slide 5: Losses: The Challenge of Generating Consistent Results
Losses: The Challenge of Generating Consistent Results Changes in Total Losses Gap Between Actual Losses and Regulatory Target 12 Months (%) 6.91 p.p. 2.11 p.p. 2.53 p.p. 23,39% 23,15% 22,00% 19,89% 20,62% 16,48% 3Q16 3Q17 3Q18 Losses/Grid Load (%) Losses (GWh) Difference between actual losses and r
Slide 6: Increase of the Collection Rate
Increase of the Collection Rate Collection Rate Total Collection Rate (Considering Overdue Installments) (Considering Overdue Installments) 9M17 9M18 101,3% 102,3% 100,7% 98,4% 99,8% 98,5% 104,0% 102,8% 98,2% 97,3% 99,1% 97,6% 98,6% 98,3% 97,6% 93,1% 92,0% Total Total Total VarejoVarejo Retail Grand
Slide 7: Balancing the Provisions Level
Balancing the Provisions Level Recovery Energy - REN PECLD/Gross Revenue (%) GWh 12 Meses 1.099 1.146 1.093 1.050 1.045 905 968 683 326 383 3,1 3,0 330 2,8 2,7 278 273 2,3 253 232 1,8 2,0 185 210 1,5 155 1,3 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 RE
Slide 8: EBITDA per Segment
EBITDA per Segment EBITDA per Segment EBITDA per Segment R$ Million R$ Million 34.4% 7.7% 4.0% 1.254 -33.4% 1.206 70 87 933 300 269 93 503 33 336 13 311 335 35 29 847 895 24 114 461 530 285 175 (14) (4) (2) (26) -11 3Q16 3Q17 3Q18 9M16 9M17 9M18 Distribution Commercialization Generation Services 8
Slide 9: Free Cash Flow
Free Cash Flow R$ Million 9M17 9M18 CVM EBITDA 1.140 1.153 (+/-) Equity Income 11 65 (+/-) Other Operating Revenues (expenses) 55 36 Adjusted EBITDA 1.206 1.254 Operational Improvement (-) Income Tax and Social Contribution (177) (107) (-) Interest (469) (337) Lower Cost of Debt (-/+) Accounts Recei
Slide 10: Melhora do Perfil da Dívida
Melhora do Perfil da Dívida Amortization of Consolidated Debt - R$ MN Amortization of Consolidated Debt - R$ MN Average Maturity: 3.2 years Average Maturity: 3.4 years (Disclosed in 3T18) (Pro-Forma: Including Light SESA 15ª Debenture) 3.816 3.276 540 2.106 2.003 1.807 1.406 1.189 1.119 1.109 1.039
Slide 11: Important Notice
Important Notice 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
Slide 12: Contacts
Contacts Luis Fernando Paroli Santos CEO, Director of Business Development and Investor Relations Fernanda Crespo Head Of Participations and Investor Relations and Energy Business & Power Purchase + 55 21 2211 2508 [email protected] Marcio Loures Penna Investor Relations Coordinator + 55