19919510 COMMON SHARES EDP – Energias do Brasil SA

SUMMARY FINANCIAL AND OTHER INFORMATION
We present below a summary of our consolidated balance sheet and statements of income for each of the
periods indicated. Our consolidated financial statements are prepared in accordance with IFRS. The
financial information presented below should be read in conjunction with “Presentation of Financial and
Other Information,” “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and the financial statements, including the notes thereto, included in this offering memorandum.
The following summary financial information has been derived from our consolidated financial
statements as of and for the years ended December 31, 2010 and 2009 and our interim consolidated financial
statements as of and for the three-month periods ended March 31, 2011 and 2010, included elsewhere in this
offering memorandum, and include, in the opinion of our management, all adjustments necessary to
adequately present our financial condition for the periods indicated. Net income for the three-month period
ended March 31, 2011 is not necessarily indicative of the results that may be expected for the year ended
December 31, 2011.
This offering memorandum includes translations of various real amounts into U.S. dollars at specified
rates solely for your convenience. You should not construe these translations as representations by us that the
real amount actually represents these U.S. dollar amounts or could be converted into U.S. dollars at the rates
indicated. Unless otherwise indicated, we have translated the real amounts for the year ended December 31,
2010 and for the three-month period ended March 31, 2011, using a rate of R$1.6287 to U.S.$1.00, the rate of
exchange as of March 31, 2011. See “Exchange Rates”.
Three-Month Period
Ended March 31, Year Ended December 31,
2011 2011 2010 2010 2009
(in US$
millions) (in R$ millions)
12
(in US$
millions) (in R$ millions)
Net operating revenues .................................................... 850.2 1,384.8 1,200.4 3,091.0 5,034.3 4,621.7
Electricity services costs
Electricity cost ................................................................ (435.6) (709.5) (587.7) (1,656.7) (2,698.2) (2,340.3)
Electricity purchased for resale ................................... (339.6) (553.1) (433.4) (1,287.4) (2,096.8) (1,866.7)
Electricity network use charges ................................... (96.0) (156.4) (154.4) (369.3) (601.4) (473.7)
Operating costs ............................................................... (103.0) (167.8) (164.6) (406.0) (661.3) (598.5)
Personnel ...................................................................... (23.8) (38.8) (38.3) (93.3) (151.9) (146.5)
Materials and third-party services ............................... (31.0) (50.5) (47.1) (124.7) (203.1) (166.6)
Depreciation and amortization .................................... (41.0) (66.8) (66.3) (169.6) (276.2) (257.2)
Other operating costs ................................................... (7.2) (11.7) (12.9) (18.5) (30.1) (28.1)
Service cost rendered to third parties ............................. (0.3) (0.5) (0.9) (3.7) (6.1) (2.9)
Gross operating profit ..................................................... 311.3 507.0 447.2 1,024.6 1,668.8 1,680.0
Operational expenses ...................................................... (89.2) (145.2) (122.0) (309.6) (504.2) (490.5)
Selling .......................................................................... (8.0) (13.1) (17.4) (49.3) (80.3) (42.0)
General and administrative .......................................... (48.9) (79.6) (65.2) (160.9) (262.0) (321.6)
Depreciation and amortization .................................... (19.5) (31.7) (20.7) (50.2) (81.8) (76.9)
Other operating expenses ............................................ (12.8) (20.8) (18.7) (49.2) (80.1) (50.0)
Service result .................................................................. 222.1 361.8 325.2 715.0 1,164.6 1,189.5
Income from equity interest ............................................ (1.5) (2.4) (0.6) (1.1) (1.8) (0.4)
Financial revenues ....................................................... 31.7 51.6 73.6 207.5 338.0 296.6
Financial expenses ....................................................... (58.9) (95.9) (100.5) (316.2) (515.0) (378.6)
Financial result ................................................................ (27.2) (44.3) (26.9) (108.7) (177.0) (82.0)
Income before income tax and social contribution ..... 193.5 315.1 297.7 605.2 985.7 1,107.1
Current income and social contribution taxes ................ (58.9) (96.0) (93.2) (140.8) (229.3) (196.8)
Deferred income and social contribution taxes .............. (4.4) (7.1) (4.0) (12.2) (19.8) (52.0)
Net income before non-controlling shareholders .............. 130.2 212.0 200.5 452.3 736.6 858.3
Non-controlling shareholders ......................................... (13.6) (22.2) (25.0) (84.1) (136.9) (146.9)
Founders’ shares ............................................................. (1.3) (2.1) (2.4) (10.6) (17.2) (15.8)
Net income for the period ............................................... 115.2 187.7 173.0 357.7 582.6 695.7
Profit per share (in Reais) ............................................... 0.7 1.2 1.1 2.3 3.7 4.4