Light S.a. · BMFBOVESPA:LIGT3
Light — Q2 2019 Earnings Presentation
14 slides from Light's earnings presentation, Aug 16, 2019
Slide 1: 2Q19 Earnings Results
2Q19 Earnings Results Rio de Janeiro August 16, 2019 1
Slide 2: Grid Load and Billed Market
Grid Load and Billed Market Grid Load (GWh) Grid Load (GWh) 4,9% 5,0% 19.086 20.036 9.195 8.762 2Q18 2Q19 1H18 1H19 Billed Market (GWh) Billed Market (GWh) -0,1% -2,8% 14.618 14.604 7.160 6.961 2Q18 2Q19 1H18 1H19 2
Slide 3: Quality Indicators
Quality Indicators DEC - Hours (12 months) FEC - Times (12 months) 6,8% -7,0% 7,83 8,36 4,71 4,38 2T18 2Q18 2T19 2Q19 2T18 2Q18 2T19 2Q19 5th ANEEL Addendum = 8,23 hours (December 2019) 5th ANEEL Addendum = 5,72 x (December 2019) 3
Slide 4: Financial Highlights
Financial Highlights Net Revenue (R$ million) Net Revenue (R$ million) 3,4% -5,3% 5.621 5.811 2.778 2.632 2Q18 2Q19 1H18 1H19 PMSO (R$ million) PMSO (R$ million) -4,5% -3,4% 479 463 248 237 2Q18 2Q19 1H18 1H19 4
Slide 5: Financial Highlights
Financial Highlights EBITDA (R$ million) EBITDA (R$ million) -13,8% 4,5% 918 959 446 385 2Q18 2Q19 1H18 1H19 Net Earnings (R$ million) Net Earnings (R$ million) 142,5% 160,1% 11 175 67 -25 1H18 1H19 2Q18 2Q19 5
Slide 6: Losses
Losses Changes in Total Losses Gap Between Actual Losses and Regulatory Target 12 Months (%)¹ 10.000 35,00% 9.000 9.739 2,36 p.p. 6,14 p.p. 9.153 8.827 8.000 8.392 8.529 30,00% 8.000 8.004 8.004 8.189 7.000 25,76% 25,76% 23,95% 24,49% 6.000 23,15% 25,00% 22,98% 22,72% 22,98% 5.000 21,75% 22,00% 21,9
Slide 7: Balancing the Provisions Level
Balancing the Provisions Level Recovery Energy - REN PECLD/Gross Revenue (%) GWh 12 Months 1.069 1.100 1.051 976 943 868 3,1% 3,0% 705 2,8% 2,7% 2,7% 330 553 2,3% 2,1% 267 2,0% 234 363 1,8% 210 169 167 135 16 45 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q1
Slide 8: Collection Rate
Collection Rate Collection Rate 12 Months (Considering Overdue Installments) 8
Slide 9: Provisions for Contingencies (R$ Million)
Provisions for Contingencies (R$ Million) % Change % Change Provisions 2Q19 2Q18 1H19 1H18 2Q19/2Q18 1H19/1H18 Civil 86 58 47% 157 99 58% Labor 3 5 -43% 3 8 -67% Tax (0) 1 - 1 1 -32% Regulatory - - - 4 (1) - Total 88 64 37% 164 107 53% 9
Slide 10: EBITDA per Segment
EBITDA per Segment 4,5% -13,8% 918 959 41 77 276 379 446 21 385 103 25 148 610 511 328 216 -6 -4 -9 -7 2Q18 2Q19 1H18 1H19 Distribution Commercialization Generation Others and Eliminations 10
Slide 11: Debt Profile
Debt Profile Cost of Debt Amortization of Consolidated Debt - R$ MN (%) Average Maturity: 3.0 years (Disclosed in 2Q19) 4.371 2.983¹ 14,11% 13,97% Follow-on proceeds 11,90% 1.622 1.699 10,72% 10,56% 1.331 10,39% 1.151 9,47% 9,49% 11,23% 533 9,34% 9,33% 8,70% Cash 2019 2020 2021 2022 After 2023 7,83%
Slide 12: Ownership Structure: Light Has Become a True Corporation
Ownership Structure Before After Follow-on Follow-on Other Other Shareholders Shareholders 49.99% 9.4% 40.6% 22.6% 6.3% 71.1% Light has Become a True Corporation 12
Slide 13: 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 14: Thank you
Thank you 14