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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  EDP - Energias do Brasil S.A.    ENBR3   BRENBRACNOR2

EDP - ENERGIAS DO BRASIL S.A.

(ENBR3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 12/03
19.39 BRL   +2.54%
12/02EDP ENERGIAS DO BRASIL S A : Integrates ISE 2021
PU
11/24EDP ENERGIAS DO BRASIL S A : Institutional Presentation - November 2020
PU
11/24EDP ENERGIAS DO BRASIL S A : 3Q20 Results Release
PU
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

EDP Energias do Brasil S A : Institutional Presentation - September 2020

10/14/2020 | 04:22am EST

EDP Group

EDP Group

51.2%

Stake in EDP Brasil

EDP Brasil

EDP Brazil

48.8%

Free Float +

Treasury stocks

Leading the

Accelerated growth and focused

Continuous portfolio optimization

energy transition

Solid balance sheet and low-risk profile

to create

Efficient and digital

superior value

Attractive shareholder remuneration

2022

Market Cap¹

R$ 11.3 bi

Market Cap

R$ 3.0 bi

2005

¹ Share price on August 31, 2020 (R$ 18.69) / ²Presented at the Strategic Update on March 12, 2019

2

Generation

Transmission

2.2 GW

1,441 Km

Hydro Generation

316 km in operation

0.7 GW

1,125 km under

construction

Thermal Generation

Distribution Final

Consumer

3 states (SP, ES, SC)

25.6 TWh/year

distributed energy (SP+ ES)

3.5 million clients (SP+ ES)

28.77% stake

in an integrated asset (Celesc)

Commercialization

14.1

+ 350

TWh/year

clients

of traded

energy

B2B

and B2C

Services Energy Efficiency

Innovation

Center for

Electric

EDP Ventures

Excellence in

Mobility

Robotization

R$ 50 million

R$ 30 million

through R&D

in start-ups

Solar PV

37 MWp

Contracted

projects

3

Solar PV

Pioneering in

Electric Mobility

Innovation

Exponential Technologies

R&D

  • Smart Grids

Transmission

Strategic regions - South and Southeast

Distribution

Higher income per capita

Commercialization

Market growth

Favorable macroeconomic conditions

Hydro

Long-term agreements

Fixed Revenues

Thermal

Indexed to inflation

Hydrological risk mitigation

Distribution

4

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

and digital

growth

aggregation

5

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

and digital

growth

aggregation

6

1

Capital

Remuneration

Regulatory Reint.

Quota

Invest. in the period: R$ 1.8 bi

2X RRQ

Growth of Net RAB: + 36%

Gains in EBITDA

Greater efficiency in costs vs

2

Compared to the

ANEEL benchmark

3

the Regulatory target

Gains in EBITDA

Growth in volume of

distributed energy

Gains in EBITDA

7

(R$ million)

2,423

~2x

1,667

Capex/

1,544

RRQ¹

1,221

1,029

480

543

671

2nd PTRC

3rd PTRC

4th PTRC

5th PTRC

Next

2007

2011

2015

2019

Cycle

Investments

19.0%

15.0%

3.4%

0.6%

Ist PTRC

2nd PTRC

3rd PTRC

4th PTRC

2007

2011

2015

2019

¹ Regulatory Reintegration Quota

(R$ million)

2,581

~2x

2,015

Capex/

RRQ¹

1,591

1,297

1,050

554

460

582

5th PTRC

6th PTRC

7th PTRC

8th PTRC

Next

2010

2013

2016

2019

Cycle

Investments

15.0%

14.0%

1.3%

0.3%

5th PTRC

6th PTRC

7th PTRC

8th PTRC

2010

2013

2016

2019

8

15.0

(%)

10.0

4.04.04.6

2.0

0.30.40.6

EDP ES

DisCo 1

EDP SP

DisCo 2

DisCo 3

DisCo 4

DisCo 5

DisCo 6

DisCo 7

¹ Regulatory Reintegration Quota

9

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

and digital

growth

aggregation

10

Lot 24

Lot 11

Lot 7

Lot 18

Lot 21

Lot Q

Espírito Santo

113 Km and 1 substation Operational start-up: Dec/18

Maranhão

203 Km and 1 substation Operational start-up: Aug/20

Maranhão

123 Km and 1 substation Under construction (69%)

São Paulo - Minas Gerais

375 Km

Under construction (65%)

Santa Catarina*

484.5 Km and 1 substation Under construction (73%)

Santa Catarina/Rio Grande do Sul 142 Km and 2 substations Under construction (16%)

*Celesc stake: 10% / ¹Base July 2020

11

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

and digital

growth

aggregation

12

Peixe

Angical

Considered by ANEEL the best plant in Brazil

¹ Monitoring of the Performance Inspection Campaign for HPPs with Centralized Dispatch by the ONS - 2020

13

88.5

92.3

95.2

596

80.3

504

467

515

2016

2017

2018

2019

2016

2017

2018

2019

14

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Robust portfolio of

Benchmark in efficiency

Financial function as

Profitable contracted

factor of value

growth options

and digital

growth

aggregation

15

CapEx Evolution

Transmission

Distribution

Generation

Others

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

1 Source Bloomberg, Adjustad for Component A Offsetting Account - CVA and Book Value

16

4%

9%

20%

37%

Networks

46%

2019

real gains of + 35-45%

982 +40% +35% +25%

30%

EBITDA

CAGR¹ 2019-23: ≈ 10-12%

6%

36%22%

2023

Thermal Ger.

Hydro Ger.

Distribution

Comm./Services

Transmission

Networks

57%

2019

Tariff Revision

Market

Efficiency

2023

520

642

117

2020e

2021e

2022e

Lots 11 and 21 start

Lots 07, 18 and Q

21%15%

¹ Nominal CAGR / ² Real RAP 12/31/2019

of operations

start of operations

17

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

and digital

growth

growth options

aggregation

18

Acquisition

of Assets

Upcoming

Auctions

Secondary

Market

Auction Dec/20 Estimated Capex of R$ 7.4 billion¹

¹ Estimated amounts based on the Ten-Year Plan 2020 published by EPE

19

TURN-KEY

BOT¹

PERFORMANCE

1.4 MWp

28 MWp

+31 MWp

Installed Capacity

Current Installed Capacity

Contracted Capacity

in 2018

Pipeline

Smart Monitoring

Automation and Control

Consumption Management

Analytics

¹ Build, Operate, Transfer

Air Conditioning Compressed air

Cogeneration Refrigeration

Industrial Steam Lighting

20

Mobility platforms and

Infrastructure

Infrastructure/

operations

services

Energy Supply

Digital mobility

Infrastructure management

Public

Shared mobility

& integration services

B2C and B2B infrastructure

Delivery service

solutions

Public transport operations

1

Source: EPE, BCG Analysis

21

SP-RJ electric corridor

  • 6 charging stations between São Paulo and Rio de Janeiro, inaugurated in 2018

Ultra fast charger network

  • Installation of 30 ultra fast charging stations on the main highways of the state
  • Largest network of ultrafast chargers for electric vehicles in South America

E-lounges - Airports

  • Installation of 2 e-Loungeswith recharge infrastructure for shared mobility operators

Electric Bus Fleet

  • Implementation of a project with 1 electric bus in operation with Águia Branca for intercity and charter routes

22

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

growth

and digital

aggregation

23

  • 159 cross-cutting

efficiency initiatives

200 Robots

  • ~96 thousand working
    hours robotized

24

33.3% 31.8% 29.9% 28.1%

2016

2017

2018

2019

1 Gains in efficiency 2019 vs 2014 vis a vis growth in inflation for the period. Disregarding Ipueiras, Cachoeira, APS and Pantanal. Regarding Pecém 100% (Pro-forma)

² OPEX disregards VNR report from the tariff revision processes

25

  • Value added in the cycle
  • Benchmark in asset management
  • Benchmark in losses reduction
  • Economies of scope
  • Distinctive management model
  • Benchmark in execution
  • Benchmark in operations
  • Turnaround at Pecém
  • Effective mitigation of the hydrological risk

Profitable contracted

Robust portfolio of

Benchmark in efficiency

Financial function as

factor of value

growth options

and digital

growth

aggregation

26

5,558 5,751

4,455 4,396

3,553

2016

2017

2018

2019

6M20

14

Average Cost

20

12

14.5%

Average Term (Years)

15

10

11.2%

8

8.6%

8.4%

10

6

7.0%

4.1

4

3.0

2.9

3.7

3.9

5

2

0

0

2016

2017

2018

2019

6M20

¹ Debt issuances via capital markets; ² Pre-payment of APS' debt with BNDES

1,196

864

549 495 500

2016

2017

2018

2019

6M20

27

EBITDA

R$ million

2,960

2,768

2,914

1,915

2,298

2,187

1,285

2014

2015

2016

2017

2018

2019

6M20

Net Earnings

R$ million

1,266

1,273

1,338

744

667

612

508

2014

2015

2016

2017

2018

2019

6M20

28

Dividend

Payment of IOE¹ +

Management Commitment:

Policy

dividends

Minimum payment of 50% of adjusted net income²

Dividend Distribution

+79%

R$ million

476

303

330

367

353

197

2014

2015

2016

2017

2018

2019

Dividend Yield:

4.6%

5.3%

4.0%

4.4%

5.3%

2.6%

Closing Price³ (R$):

8.97

12.04

13.40

14.00

14.75

22.10

1 Interest on Equity / 2 Adjusted for non-cash effects / ³ Disregarding dividend adjustments

29

1

2

*

1 Adjusted for Earnings from Long-Term Cash realization, such as the EBITDA of Transmission Companies, VNR of the Distribution Companies, M&A Operations, Contingencies, and Post-Employment Benefits 2 Details on the Dividend Police at IR website.

30

3.0 x

2.5 x

1.7

1.9

1.8

2.0

2.0 x

1.3

1.2

26%

24%

50%

60%

37%

26%

2014

2015

2016

2017

2018

2019

2020

2021

2022 on

Payout

31

Maximize shareholder value generation, given the righ levels of profitability obtained with the current share price range

Eighteen (18) months from August 28, 2020.

24,863,880 shares

32

Dividend Policy and Share Repurchase Plan

33

  • Acceleration of investments in solar PV
  • B2C position reinforcement
  • Positioning for the energy market liberalization
  • Secondary market and transmission auctions
  • Antecipation of transmission projects
  • Digital transformation
  • Continuity of distribution investment
  • Continuity of capital recycling

Digital ZBB

34

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

EDP - Energias do Brasil SA published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 08:14:03 UTC


© Publicnow 2020
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Financials
Sales 2020 12 818 M 2 501 M 2 501 M
Net income 2020 994 M 194 M 194 M
Net Debt 2020 5 766 M 1 125 M 1 125 M
P/E ratio 2020 11,9x
Yield 2020 3,75%
Capitalization 11 394 M 2 178 M 2 223 M
EV / Sales 2020 1,34x
EV / Sales 2021 1,32x
Nbr of Employees 3 380
Free-Float 48,5%
Chart EDP - ENERGIAS DO BRASIL S.A.
Duration : Period :
EDP - Energias do Brasil S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EDP - ENERGIAS DO BRASIL S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 21,94 BRL
Last Close Price 18,91 BRL
Spread / Highest target 33,6%
Spread / Average Target 16,0%
Spread / Lowest Target 0,48%
EPS Revisions
Managers
NameTitle
Miguel Nuno Simões Nunes Ferreira Setas Vice Chairman, CEO & Director-Investor Relations
António Luís Guerra Nunes Mexia Chairman
Eduardo Masson de Andrade Martins Finance Director & Head-Investor Relations
Marcos Penna Director-Information Technology
Pedro Sampaio Malan Independent Director
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