DOCSLIB.ORG

Companhia De Transmissão De Energia Elétrica Paulista

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Companhia De Transmissão De Energia Elétrica Paulista CTEEP - Companhia de Transmissão de Energia Elétrica Paulista Individual and consolidated financial statements prepared in accordance with accounting practices adopted in Brazil 1 CONTENTS Management Report………...........................................................................................................................3 Statements of financial position.…………………………………………………………………………..11 Income statements…………………………………………………………………………………………13 Statements of comprehensive income..........................................................................................................14 Statements of changes in equity……………………...................................................................................15 Cash flow statements……………...............................................................................................................16 Statements of Value Added……………………………………………………………………………….18 Notes to financial statements........................................................................................... 1. Operations……………............................................................................................................................20 2. Presentation of financial statements………….........................................................................................25 3. Significant accounting practices .............................................................................................................28 4. New and revised standards and interpretations not yet adopted 37…………………………………….37 5. Cash and cash equivalents.......................................................................................................................38 6. Short-term investments............................................................................................................................39 7. Accounts receivable (concession asset)...................................................................................................40 8. Receivables – State Finance Department.................................................................................................43 9. Taxes and contributions recoverable........................................................................................................43 10. Pledges and restricted deposits..............................................................................................................44 11. Investments............................................................................................................................................45 12. Property, plant and equipment...............................................................................................................51 13. Intangible assets.....................................................................................................................................53 14. Loans and financing.…………..............................................................................................................54 15. Debentures.............................................................................................................................................58 16. Taxes and social charges payable…......................................................................................................60 17. Taxes in installments - Law No. 11941.................................................................................................60 18. Deferred PIS and COFINS.....................................................................................................................61 19. Regulatory charges payable...…............................................................................................................61 20. Provisions...............................................................................................................................................62 21. Payables – Funcesp……........................................................................................................................66 22. Special obligations – reversal/amortization……...................................................................................69 23. Equity…………… ................................................................................................................................70 24. Net operating revenue……....................................................................................................................74 25. Costs of infrastructure implementation, operation and maintenance services and general and administrative expenses….………………………………………………………………………………..77 26. Financial income (expenses)…………………………………………………………………………..78 27. Other operating income(expenses)…....................................................................................................79 28. Income and social contribution taxes.....................................................................................................79 29. Transactions with related parties...........................................................................................................81 30. Financial instruments….........................................................................................................................83 31. Commitments – operating lease agreements………………………......................................................87 32. Insurance................................................................................................................................................87 33. Supplementary retirement plan governed by Law No. 4819/58………………………………………88 34. Subsequent events…..............................................................................................................................92 Independent auditor’s report on individual and consolidated financial statements……………………….93 Supervisory Board´s Opinion......................................................................................................................98 Executive Board’s Representation on the Independent Auditor’s Report.………………………………..99 Executive Board´s Representation on the Financial Statements................................................................100 CTEEP – Companhia de Transmissão de Energia Elétrica Paulista Management Report – Fiscal Year 2016 MESSAGE FROM MANAGEMENT The year of 2016 represents a milestone that ends a cycle of profound changes for CTEEP, which began in 2012 with publication of Provisional Executive Order No. 579/12, subsequently passed into Law No. 12783/2013. In accepting the extension of the concession agreement, we began a new stage in the Company's trajectory, in a highly complex scenario with significant changes in the Brazilian electric power sector. We accepted the challenge of reorganizing the Company with courage, determination and in an unprecedented manner, adapting it to a context of drastic reduction in revenue. We took on the task of further raising the high level of efficiency for which CTEEP has always been recognized. We undertook the ongoing commitment with strict financial discipline and cost control, and actively defended the interests of the Company. All these efforts have earned us valuable achievements and significant progress, many of which were evidenced throughout 2016. One of the major events was the publication of Administrative Ruling No. 120, on April 20, 2016, by the Ministry of Mines and Energy, which establishes the rules for payment of unamortized assets existing in May 2000 arising from the concession renewal process. Although lower than the amount presented in a report filed with ANEEL on August 13, 2014, a total of R$3.9 billion has already been ratified by ANEEL. Even with the progress made, we continue claiming the fair value of unamortized assets with the competent authorities. Another issue of great importance for CTEEP concerns Law No. 4819/58. In 2015, the Federal Supreme Court defined that the Common Court, rather than the Labor Court, shall have jurisdiction to judge the action that refers to such payments, resulting in significant progress in 2016, through legal decisions favorable to the Company. In special is the enforcement action that declares the São Paulo State Treasury as responsible for the transfer of amounts spent by CTEEP with payment of supplementation to those benefited by Law No. 4819/58, and determines the reimbursement of the amounts that had not been previously transferred by the Treasury. While these decisions are positive, they were insufficient to bring an end to the matter because of appeals lodged still pending judgment. We continue to work intensively to resolve this issue and relieve the financial commitment that has a negative impact on the Company's sustainability and growth. In the regulatory area, we also identified progress in discussions on the transfer of facilities with voltage below 230 kV, the so-called Other Transmission Facilities (DIT), from transmission companies to distribution companies. We believe that the uncertainty surrounding this issue was overcome with technical note No. 170/2016 issued by ANEEL, after intense debate with the agents involved, which informed that the compulsory transfer would be restricted to exclusive DITs, that is, to the facilities with voltage below 230 kV that serve a single concession operator. Despite the impacts on the transmission companies, this change significantly reduces these repercussions. The conditions presented in the transmission auctions conducted by ANEEL were also positive, among
Load more

Recommended publications
  • Annual and Sustainability Report .Pdf
    2012 Annual and Sustainability Report Main Indicators Consolidated financial information Results (R$ million) 2011 2012 Gross revenue 3,268.68 3,173.90 Net revenue 2,900.80 2,818.99 Gross profit 1,577.39 1,568.42 EBITDA 1,454.56 1,471.93 Net income 915.26 843.48 Net value added 2,062.52 2,144.20 Margin (%) EBITDA margin 50.14 52.21 Net margin 31.55 29.92 Financial indicators Total assets 8,409.49 9,836.58 Shareholders` equity 4,539.43 5,078.23 Net debt 2,564,10 3,265.25 Net debt/EBITDA (x) 1.76 2.22 Market indicators Number of shares outstanding (`000) 31,823.90 31,823.90 Financial trading volume (R$ `000) 1,795,974 3,589,365 Closing price (preferr./PN) (R$) 57.99 32.99 Earnings per share (R$/`000 shares) 6.03 5.53 Market capitalization (R$ `000) 8,549,759 5,778,521 Shareholder remuneration (dividends and interest on equity - IOE) (R$ `000) 789,020 275,282 Sustainability indicators Environmental protection expenditures (R$ `000) 4.3 Number of injuries 2.00 Average training hours per employee 52.56 68.75 Training hours on sustainability - 1,240 2 2012 Annual and Sustainability Report Annual and 2012 Sustainability Report 4 Message from Management 6 About CTEEP 12 About this Report 14 Corporate Governance 20 Competitiveness and Management 30 Operational Performance 32 Economic and Financial Performance 37 Social Performance 55 Environmental Performance 63 Annual Social Balance / 2012 65 GRI Summary 73 Examination Statement of the Application Level by the GRI 74 Corporate information and credits 75 Glossary Message from Management In 2012, consolidated investments totaled R$ 952, 2 million.
    [Show full text]
  • Companhia De Transmissão De Energia Elétrica Paulista
    (Convenience Translation into English from the Original Previously Issued in Portuguese) CTEEP – Companhia de Transmissão de Energia Elétrica Paulista Report on Review of Interim Financial Information for the Three‐Month and Six‐Month Period Ended June 30, 2021 and Independent Auditor’s Report Deloitte Touche Tohmatsu Auditores Independentes Deloitte Touche Tohmatsu Rua Nunes Machado, 68, The Five East Batel – 18º andar 80250-000 - Curitiba - PR Brasil Tel.: + 55 (41) 3312-1400 Fax: + 55 (41) 3312-1470 www.deloitte.com.br (Convenience Translation into English from the Original Previously Issued in Portuguese) REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION To the Shareholders, Directors and Management of CTEEP – Companhia de Transmissão de Energia Elétrica Paulista Introduction We have reviewed the accompanying individual and consolidated interim financial information of CTEEP – Companhia de Transmissão de Energia Elétrica Paulista (“CTEEP” or “Company”), included in the Interim Financial Information Form ‐ ITR for the quarter ended June 30, 2021, which comprise the statement of financial position as of June 30, 2021, and the related statements of profit and loss, of comprehensive income for the three‐month and six‐month period then ended, of changes in equity and cash flows for the six‐month period then ended, including the explanatory notes. Management is responsible for the preparation of this individual and consolidated interim financial information in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34 ‐ Interim Financial Reporting, issued by the International Accounting Standards Board ‐ IASB, as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission ‐ CVM, applicable to the preparation of Interim Financial Information ‐ ITR.
    [Show full text]
  • Companhia De Transmissão De Energia Elétrica Paulista
    CTEEP – Companhia de Transmissão de Energia Elétrica Paulista Demonstrações financeiras individuais (controladora) e consolidadas (consolidado) referentes ao exercício findo em 31 de dezembro de 2018, preparadas de acordo com os pronunciamentos técnicos emitidos pelo Comitê de Pronunciamentos Contábeis – CPC e Normas Internacionais de Contabilidade - IFRS. 1 ÍNDICE Relatório da Administração .......................................................................................................................... 3 Balanços patrimoniais ................................................................................................................................ 16 Demonstrações do resultado do exercício .................................................................................................. 18 Demonstrações dos resultados abrangentes ................................................................................................ 19 Demonstrações das mutações do patrimônio líquido ................................................................................. 20 Demonstrações dos fluxos de caixa ............................................................................................................ 21 Demonstrações do valor adicionado ........................................................................................................... 23 Notas explicativas às demonstrações financeiras individuais e consolidadas ............................................... 1. Contexto operacional .............................................................................................................................
    [Show full text]
  • Anexo II Encargos De Conexão (Em R$) Referentes Às Demais Instalações De Transmissão De Uso Exclusivo De Distribuidoras - Período De 07/2018 a 06/2019
    Anexo II Encargos de Conexão (em R$) referentes às Demais Instalações de Transmissão de uso exclusivo de distribuidoras - Período de 07/2018 a 06/2019. Transmissora CHESF - Companhia Hidro Elétrica do São Francisco Contrato Concessão 010/2007 - LT Ibicoara - Brumado II - 230 KV RAP: 1.099.487,74 DISTRIBUIDORA ENCARGO COELBA - Companhia de Eletricidade do Estado da Bahia 1.099.487,74 Contrato Concessão 007/2005 - LT Milagres - Tauá RAP: 1.391.346,69 DISTRIBUIDORA ENCARGO ENEL CE - COMPANHIA ENERGETICA DO CEARA 1.391.346,69 Contrato Concessão 061/2001 - Diversos Empreendimentos (Ver Anexos ao Contrato) RAP: 143.220.738,34 DISTRIBUIDORA ENCARGO CEAL - Companhia Energética de Alagoas 6.331.805,73 CELPE - Companhia Energética de Pernambuco 24.363.467,48 CEMAR - Companhia Energética do Maranhão 814.380,83 CEPISA - Companhia Energética do Piauí 10.452.321,34 COELBA - Companhia de Eletricidade do Estado da Bahia 41.297.174,20 COSERN - Companhia Energética do Rio Grande do Norte 20.068.670,73 EBO - Energisa Borborema – Distribuidora de Energia S.A. 305.182,17 ENEL CE - COMPANHIA ENERGETICA DO CEARA 24.903.546,70 EPB - Energisa Paraíba - Distribuidora de Energia 6.070.066,84 ESE - Energisa Sergipe - Distribuidora de Energia S.A. 6.987.690,37 SULGIPE - COMPANHIA SUL SERGIPANA DE ELETRICIDADE 1.626.431,95 Contrato Concessão 006/2009 - SE Suape II - 500/230 kV (600 MVA) SE Suape III - 230/69 kV (200 MVA) RAP: 308.342,61 DISTRIBUIDORA ENCARGO CELPE - Companhia Energética de Pernambuco 308.342,61 Contrato Concessão 017/2009 - LT Pau Ferro - Santa Rita
    [Show full text]
  • 2021SP007456 REV ENG IPE CTEEP 1ªITR 2021.Docx
    ITR - Interim Financial Information - 03/31/2021 - CTEEP - CIA TRANSMISSÃO ENERGIA ELÉTRICA Version: 1 PAULISTA Contents Company Information Shareholding Structure 1 Individual Financial Statements Statement of Financial Position - Assets 2 Statement of Financial Position - Liabilities Statement of Profit and Loss 5 Statement of Comprehensive Income 6 Statement of Cash Flows 7 Statements of Changes in Equity 01/01/2021 to 03/31/2021 9 01/01/2020 to 03/31/2020 10 Statement of Value Added 11 Consolidated Financial Statements Statement of Financial Position - Assets 12 Statement of Financial Position - Liabilities 13 Statement of Profit and Loss 15 Statement of Comprehensive Income 16 Statement of Cash Flows 17 Statements of Changes in Equity 01/01/2021 to 03/31/2021 19 01/01/2020 to 03/31/2020 20 Statement of Value Added 21 Performance Comments 22 Notes to the Interim Financial Information 27 95 Opinions and Representations 103 Opinion of the Supervisory Board or Equivalent Body 105 Opinion or Summary Report, if any, of the Audit Committee (statutory or not) 106 Management’s Representation on the Interim Financial Information 107 Management’s Representation on the Independent Auditor’s Review Report 108 ITR - Interim Financial Information - 03/31/2021 - CTEEP - CIA TRANSMISSÃO ENERGIA ELÉTRICA Version: 1 PAULISTA Company Information / Shareholding Structure Number of Shares Current Quarter (Units) 03/31/2021 In paid-in capital Common shares 257,937,732 Preferred shares 400,945,572 Total 658,883,304 Shares held in Treasury Common shares
    [Show full text]
  • Annual and Sustainability Report 2011 Main Indicators
    annual and sustainability report 2011 Main Indicators Results (BRL millions) 2010 2011 Gross revenue 2,551.54 3,268.68 Net revenue 2,256.28 2,900.80 Gross income 1,308.12 1,577.39 EBITDA 1,176.07 1,456.50 Net income 812.17 915.30 Net added value 1,721.49 2,198.57 Margin (%) EBITDA margin 52.10 50.20 Net margin 36.00 31.60 Financial indicators (BRL millions) Total assets 6,931.42 8,409.49 Shareholder equity 4,563.83 4,539.43 Net debt 1,373.30 2,564.10 Net debt/EBITDA (times) 1.17 1.76 Market indicators Number of shares traded (thousands) 170,400 185,114 Financial volume traded (BRL thousands) 1,800,000 1,796,000 Quote at close of PN (BRL) 55.10 57.99 Net profit per share (BRL/thousand shares) 5.07 6.00 Market value (BRL thousands) 8,365,776 8,549,759 Amount of gains (dividends and JCP) (BRL thousands) 771,638 757,678 Sustainability indicators (BRL thousands) Expenditures on environmental prevention 123 171 Expenditures on environmental management 830 103 Hours per employee Average training hours 68.52 52.56 Annual and Sustainability Report 2011 2 annual and 04 About CTEEP sustainability report 09 Message from the Administration 2011 11 About this Report 14 Corporate Governance 21 Management and Competitiveness 30 Operational Excellence and Growth 37 Economic and Financial Performance 43 Corporate Social Responsibility 62 Environmental Performance 73 Annexes 76 GRI Index 87 Glossary 89 Corporate Information 90 Credits About CTEEP The Company transmits nearly 80% of the power in the State of São Paulo and 30% of the energy consumed in Brazil.
    [Show full text]
  • CTEEP – Companhia De Transmissão De Energia
    CTEEP – Companhia de Transmissão de Energia Elétrica Paulista Demonstrações Contábeis Regulatórias elaboradas de acordo com o Manual de Contabilidade do Setor Elétrico referente ao exercício findo em 31 de dezembro de 2020 ÍNDICE Balanços patrimoniais .................................................................................................................................. 3 Demonstrações dos resultados ...................................................................................................................... 5 Demonstrações dos resultados abrangentes .................................................................................................. 7 Demonstrações das mutações do patrimônio líquido ................................................................................... 8 Demonstrações dos fluxos de caixa .............................................................................................................. 9 Notas explicativas às demonstrações contábeis regulatórias .......................................................................... 1. Contexto operacional .............................................................................................................................. 11 2. Apresentação das demonstrações contábeis regulatórias ........................................................................ 14 3. Principais práticas contábeis ................................................................................................................... 14 4. Normas e interpretações societárias
    [Show full text]
  • CTEEP – Companhia De Transmissão De Energia Elétrica
    Relatório da Administração – Exercício Social 2016 MENSAGEM DA ADMINISTRAÇÃO O ano de 2016 representa um marco que encerra um ciclo de profundas mudanças para a CTEEP, originado em 2012, com a publicação da Medida Provisória nº 579/12, posteriormente convertida na Lei nº 12.783/13. Ao aceitarmos a prorrogação do contrato de concessão, iniciamos um novo estágio na trajetória da Companhia, em um cenário de grande complexidade e significativas transformações no setor elétrico brasileiro. Com coragem, determinação e protagonismo, aceitamos o desafio de reorganizar a empresa, adaptando-a um contexto de drástica redução na receita. Abraçamos a tarefa de elevar ainda mais o alto nível de eficiência pelo qual a CTEEP sempre foi reconhecida. Assumimos o compromisso contínuo com uma rígida disciplina financeira e de controle de custos. E atuamos ativamente para defender os interesses da empresa. Todos esses esforços nos renderam conquistas valiosas e avanços relevantes, muitos dos quais se manifestaram ao longo de 2016. Um dos principais eventos ocorridos foi a publicação, em 20 de abril de 2016, da Portaria nº 120 pelo Ministério de Minas e Energia, que estabelece as regras para o pagamento dos ativos não amortizados existentes em maio de 2000 decorrentes do processo de prorrogação da concessão. Embora inferior ao valor apresentado em laudo protocolado na ANEEL em 13 de agosto de 2014, o montante de R$ 3,9 bilhões já foi homologado pela ANEEL. Mesmo com os progressos obtidos, permanecemos atuando perante as esferas competentes para pleitear o valor justo pelos ativos não amortizados. Outro tema de grande relevância para a CTEEP é o referente à Lei 4.819/58.
    [Show full text]
  • Receita Anual Permitida Atinge R$ 538,1
    São Paulo, April 29, 2021 - ISA CTEEP - Companhia de Transmissão de Energia El étrica Paulista (“ISA CTEEP,” “Company,” B3: TRPL3 and TRPL4), announces its results for the first quarter of 2021 (1Q21). Regulatory results are shown in accordance with the Electricity Sector Accounting Manual (MCSE) to facilitate understanding of the Company’s business. Moreover, the information has been prepared in accordance with the standards established by the Securities and Exchange Commission of Brazil (CVM), applicable announcements by the Accounting Statements Committee (CPC) and the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) in the “Attachments” section of this document. Main Regulatory Indicators Consolidated (BRL million) 1Q21 1Q20 Var (%) Net Revenue 852.8 734.3 16.1% EBITDA 696.8 597.1 16.7% Adjusted EBITDA¹ 770.4 599.6 28.5% Adjusted EBITDA Margin² 83.2% 81.7% 1.6 p.p. Net Income3 308.1 308.3 -0.05% Net Margin 36.1% 42.0% -5.9 p.p. ROE (amount value of 20.2% 18.4% 1.8 p.p. LTM) ¹Adjusted by the receipt of the Adjustment Portion (PA), excluding the provision and non-recurring effects. ²Considers net revenue adjusted by the PA received. 3Adjusted by non-controlling interest. 2 CONTENTS 1. ISA CTEEP 1.1 ISA CTEEP 4 1.2 Shareholding Structure 5 1.3 Corporate Structure 6 1.4 Growth 6 2. Operational Performance 7 3. Financial Performance 3,1 Operating Revenue 8 3,2 O&M Costs and Expenses 9 3,3 Equity Income 9 3,4 EBITDA and Margin 10 3,5 Financial Result 11 3,7 Net Income 12 3,8 Comparison of Results (Regulatory vs.
    [Show full text]
  • Apresentação Do Powerpoint
    INSTITUTIONAL PRESENTATION 3Q19 | RESULTS ISA CTEEP ISA CTEEP in the Transmission Sector Sustainable Value Financial Highlights WHY INVEST IN ISA CTEEP? Strong Cash Growth Generation Opportunities in retrofitting, No demand greenfield projects risk and low and M&A default risk Profitability Dividends Sustainable value creation Minimum payout of 75% (regulatory net income) Investment Grade Benchmark Fitch: AAA(bra) Reference Company in quality and O&M Valuation Attractive valuation ISA CTEEP IE Garanhuns 51% Revenue² : BRL 2,579 million Revenue² : BRL 46 million IE Pinheiros 100% IENNE 100% Largest publicly traded pure transmission Revenue² : BRL 57 million utility in Brazil Revenue² : BRL 46 million IE Serra do Japi 100% ▪ Transmission of ~25% of Brazil’s power Revenue² : BRL 58 million generation IE Madeira 51% IEMG 100% Revenue²: BRL 260 million Revenue²: BRL 19 million IE Itapura Bauru 100% Transmission of ~100% of the power ▪ Revenue² : BRL 12 million generated in the State of São Paulo ▪ Benchmark player in costs and quality 18.6 thousand km of transmission lines 126 substations Evrecy 100% 65.9 thousand MVA of transformation Revenue² : BRL 10 million capacity ▪ RAP ISA CTEEP2019/2020 cycle: BRL 3.1 billion¹ IE Sul 100% Revenue² : BRL 18 million Notes: ¹ Operational assetsL ² 2019/2020 Revenue Cycle proportional to ISA CTEEP’s participation IE Itaquerê 100% IE Paraguaçu 50% Revenue²: BRL 51 million Revenue²: BRL 59 million IE Itapura Lorena 100% Revenue²: BRL 11 million Largest publicly traded pure transmission utility in Brazil IE Ivaí 50% IE Aguapeí 100% Revenue²: BRL 147 million Revenue²: BRL 59 million ▪ Sustainable growth IE Tibagi 100% Organic growth: CapEx of around BRL 180 million/year Revenue²: BRL 20 million Greenfield Projects¹: Revenue (RAP) cycle 2019/2020: BRL 479 million/year IE Aimorés 50% Revenue² : BRL 40 million IE Itaúnas 100% Revenue²: BRL 52 million IE Biguaçú 100% Revenue²: BRL 40 million Notes: ¹ ISA CTEEP’s investments in 10 projects acquired in 2016, 2017 and 2018 auctions.
    [Show full text]
  • Receita Anual Permitida Atinge R$ 538,1
    São Paulo, February 22, 2021 - ISA CTEEP - Companhia de Transmissão de Energia Elétrica Paulista (“ISA CTEEP”, “Company”, B3: TRPL3 and TRPL4), announces its results for the fourth quarter (4Q20) and fiscal year 2020. Regulatory results are shown in accordance with the Electricity Sector Accounting Manual (MCSE) to facilitate understanding of the Company’s business. Moreover, the information has been prepared in accordance with standards established by the Securities and Exchange Commission of Brazil (CVM), announcements by the Accounting Statements Committee (CPCS) and the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) in the “Attachments” section of this document. Main Regulatory Consolidated Indicators Chg (BRL million) 4Q20 4Q19 Chg (%) 2020 2019 (%) Net Revenue 839.0 729.5 15.0% 3,891.2 2,774.6 40.2% EBITDA 634.8 596.1 6.5% 3,416.6 2,184.0 56.4% Adjusted EBITDA¹ 723.1 595.1 21.5% 2,716.3 2,213.5 22.7% Adjusted EBITDA Margin² 79.3% 81.6% (2.3) p.p. 85.8% 79.8% 6.0 p.p. Net Income3 374.4 345.4 8.4% 2,002.4 1,221.8 63.9% Net Margin 44.6% 47.3% (2.7) p.p. 51.5% 44.0% 7.4 p.p. ROE (amount value of 25.8% 18.2% 7.6 p.p. 25.8% 18.2% 7.6 p.p. LTM) ¹Adjusted by receipt of Adjusted Parcel (PA) (RTP and RBSE) excluding provision and non-recurring effects 2Considers net revenue adjusted by receipt of PA (RTP and RBSE) 3 Adjusted by non-controlling interest STRONG CASH GENERATION DRIVES GROWTH STRATEGY AND DISTRIBUTION OF EARNINGS ISA CTEEP’s mission is to create sustainable value for its stakeholders.
    [Show full text]
  • Sustainability Report Corporate Shared Message Profile Value from the Administration Creation
    18 sustainability report Corporate Shared Message Profile Value from the Administration Creation Foreword Attachments Context summary 20 years transmitting more than energy In 2019, we will celebrate, in Brazil, 20 years of contributions to well-being, quality of life, and the development of the communities in our concession area. More than just transmitting energy, we are concerned with caring for the planet and promoting connections towards a future without frontiers and without barriers. This is the legacy that we seek to leave to future generations, since we are convinced that where there are connections, there is life. Message from the Administration 621 million in “Green Bonds,” the first issue Message from within the transmission sector under this the administration classification. In this scenario, Fitch confirmed GRI 102-14 the credit rating for ISA CTEEP as Investment Grade at ‘AAA (bra)’, with a stable outlook. The year 2018 was undoubtedly one of the best in the history of ISA CTEEP. Our sound financial performance reflected positively on the market, with the price of our We are proud to present in this report our preferred shares traded in the stock market financial and operational performance, and increasing by 24%, reaching a price of BRL our contribution to relevant topics such as 75.74 per TRPL4 share, the then highest social, environmental, and technological historical price recorded, and which continues agendas. It was a year marked by significant to set new records. We also increased value results in all our fronts, totally aligned with creation for our shareholders with the our achievements in recent years and that distribution of approximately BRL 2 billion consolidate our position as a leading-edge in earnings, the highest amount since the company in the transmission segment of the Company was incorporated.
    [Show full text]