Light

Investor Relations

Company Profile

Light is present in 31 municipalities of the state of Rio de Janeiro, covering a region with more than 10 million people. At the end of 2014, it had 4,221,622 clients. Headquartered in the city of Rio de Janeiro, the Light Group comprises the following companies: Light S.A. (holding company); Light Serviços de Eletricidade S.A. (Light SESA), the distribution company; Light Energia S.A. (Light Energia), the generation company; Lightger S.A. (Lightger), responsible for the Paracambi SHP project; Itaocara Energia Ltda. (Itaocara); Amazônia Energia Participações S.A. (Amazônia), to participate in the Belo Monte Hydropower Plant project; Light Esco Prestação de Serviços S.A. (Light Esco) and Lightcom Comercializadora de Energia S.A. (Lightcom), both of which specialize in energy trading; Light Soluções em Eletricidade Ltda. (Light Soluções); Energia Olimpica S.A. (Olímpica); Axxiom Soluções Tecnológicas S.A. (Axxiom), a services company; Instituto Light, an institution.

Light has 4,282 employees and, in 2014, the company reported net revenue of R$8,289.9 million, excluding construction revenue. Of this amount, 88% accounted for the company’s share in the distribution market, its most representative segment. The energy generation and energy trading and services segments represented respectively 7% and 10% of total net revenue.

On December 31, 2014, total capitalization, which corresponds to the sum of loans and financing (current and long term) and Light's total shareholders’ equity, amounted to R$10,210.9 million, R$6,582.3 million of which was debt and R$3,628.6 million, shareholders’ equity. In 2014, the company posted EBITDA of R$1,809.7 million and net income of R$662.8 million.

Light SESA

Company responsible for electricity distribution. It is Brazil’s fifth largest energy distributor in terms of volume of energy distributed to its captive market, according to Aneel’s 2013 Decision Support System Report.

In 2014, the energy distributed in Light's concession area came to 26,493 GWh, a 3.0% increase compared to 2013. Of the energy distributed, 33.8% corresponded to residential consumption, while 31.4%, 20.0% and 14.8% were consumed by the commercial, industrial and other segments, respectively.

Light's investments in the distribution segment totaled R$932.1 million in 2014, with special emphasis on (i) investments in the development of distribution and expansion networks, to keep pace with market growth, strengthen the network and improve quality, including of the underground network; and (ii) investments in energy loss projects (network protection, electronic meters and fraud regularization). In 2014, the company’s net operating revenue totaled R$8,258.3 million, while EBITDA and net income came to R$1,250.2 million and R$349.1 million, respectively.

Light Energia

Light Group company responsible for electricity generation. The generating park comprises six hydroelectric power plants and two pumping stations, with installed capacity of 855 MW and 549 MWm of assured energy.

Light's generating park has health and safety, environment and quality management certificates. Environmental preservation initiatives in reservoir areas, many of which are in partnership with universities, research centers and Non-Governmental Organizations, directly benefit the population of the state of Rio de Janeiro.

In 2014, the total amount of power sold by Light Energia was 4,526.3 GWh, a 7.4% reduction over 2013. In 2014, there were no sales in the Regulated Contracting Environment (ACR) and in the Unregulated Contracting Environment (ACL), 4,556.5 GWh were sold. The generating company’s net operating revenue totaled R$601.6 million, while EBITDA and net income came to R$491.3 million and R$267.7 million, respectively. In 2014, the average price in the ACL was R$110.2/MWh.

The reduction in sales volume was mainly due to poor hydrological conditions in the national system, impacted by the low level of the reservoirs and a delayed start of the rainy season. As a result, the company had to purchase energy in the spot market to meet its demand. This represents a reduction in the volume of energy sold in 2014.

Light Esco / LightCom

Light ESCO is the group company specialized in energy solutions, including everything from structural projects to the sale of utilities and energy efficiency services.In 2014, of the twelve (12) ongoing projects, six (6) were finalized and delivered to clients. Among these projects, the most important are Light Esco’s Cogeneration Central for Rio de Janeiro Refrescos’ plant and the solar power plant at the Maracanã soccer stadium.

LightCom is the group company responsible for commercialization, which in addition to the purchase and sale of energy, also offers advisory services to free and captive consumers, including before the Electric Power Commercialization Chamber (CCEE). LightCom closed 2014 with 81 energy commercialization clients. 

In 2014, the company sold 5,338.4 GWh, 28.5% more than in the previous year. The companies’ joint operations recorded net operating revenue of R$899.2 million, and EBITDA and net income of R$82.1 million and R$58.6 million, respectively.

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