CENTRAIS ELÉTRICAS DE SANTA CATARINA S.A. Structured as a holding company in 2006, the Company has two wholly-owned subsidiaries: Celesc Geração S.A. and Celesc Distribuição S.A. It also controls Companhia de Gás de Santa Catarina (SCGÁS) and is a partner of Dona Francisca Energética S.A. (DFESA), Empresa Catarinense de Transmissão de Energia S.A. (ECTE), Companhia Catarinense de Água e Saneamento (CASAN), and the Usina Hidrelétrica Cubatão S.A. project. Its controlling shareholder is the State of Santa Catarina, which holds 50.2% of the Company's common shares, corresponding to 20.2% of the total
CLSC3 CLSC4
2Q21
Main Results | 2Q | ||
2020 | 2021 | ||
Operating Indicators | |||
Celesc Distribuição - Total Energy Billed (GWh) | 5,742 | 6,792 | 18.3% |
Celesc Geração - Billed Energy (GWh) | 165 | 164 | -0.5% |
Financial Indicators - Consolidated (R$ Million) | |||
Gross Operating Revenue | 3,065.9 | 3,732.1 | 21.7% |
Net Operating Revenue (excluding Construction Revenue) | 1,856.3 | 2,270.2 | 22.3% |
Operating Costs and Expenses | (1,895.0) (2,297.7) | 21.3% | |
EBITDA (IFRS) | 146.9 | 190.3 | 29.6% |
EBITDA Margin (IFRS) | 7.9% | 8.4% | |
Adjusted EBITDA (IFRS - Non-Recurring) | 231.5 | 190.3 | -17.8% |
Adjusted EBITDA Margin | 12.5% | 8.4% | |
Net Income (IFRS) | 60.7 | 100.2 | 65.0% |
Net Margin | 3.3% | 4.4% | |
Adjusted Net Income (IFRS - Non-Recurring) | 116.5 | 100.2 | -14.0% |
Adjusted Net Margin | 6.3% | 4.4% | |
Investments in Electricity Generation and Distribution | 136.6 | 157.4 | 15.2% |
CLSC4 | Market cap on June 30, 2021 | |
Closing price (2Q21): R$68.00 | R$2,653 million | |
Variation in 2Q21: 17.32% | US$533 million | |
Ibovespa: 8.72% | Free Float of 75.5% |
PERIOD HIGHLIGHTS
- Total electricity consumption in Celesc's concession area reached 6,792 GWh in 2Q21, up by 18.3% over 2Q20. The YoY increase was 8.8% in 1H21, reaching 13,658 GWh;
- Service quality indicators: DEC came to 4.96 hours and FEC totaled 3.31 interruptions;
- Total cargo losses totaled 8.17% in 2Q21, lower than in 2Q20 when it reached 8.30%, thus reducing the percentage with no tariff coverage.
- Net Operating Revenue totaled R$2.4 billion (R$4.9 billion in 1H21), growth of 22.3% YoY, reflecting the performance of the subsidiaries Celesc Distribuição and Celesc Geração;
- Consolidated Net Operating Revenue (excluding construction revenue) totaled R$2.4 billion in 2Q21, reflecting the performance of the subsidiaries Celesc Distribuição and Celesc Geração, and shareholdings;
- Unmanageable Expenses, costs with electricity, totaled R$1.8 billion in 2Q21 (R$3.7 billion in 1H21);
- Manageable Costs (PMSO) totaled R$212.8 million in 2Q21, (R$402.1 million in the year), down by 27.5% in the quarter;
- EBITDA totaled R$190.3 million in 2Q21 (R$548.4 million in 1H21), while the Net Income came to R$100.2 million (R$299.3 million in 1H21);
- Consolidated Investments totaled R$157.4 million in 2Q21 (R$310.5 million in 1H21), of which R$152.0 million in subsidiary Celesc Distribuição and R$5.4 million in subsidiary Celesc Geração;
- Consolidated Net Debt of R$819.5 million, equivalent to 0.8x of the LTM Adjusted EBITDA, and 0.4x of the Shareholders' Equity;
- The Company's shares (CLSC4) had a positive variation of 17.3% in the quarter and 34.9% in the last twelve months.
Celesc Distribuição
S.A.
The company delivers energy to more than 3.0 million consumer units located in 285 municipalities in Santa Catarina. Of the total, 264 municipalities are covered by the distributor's concession agreement (263 in Santa Catarina and 1 in Paraná), and 21 municipalities are covered on a precarious basis, in concession areas of other distribution companies (17 in Santa Catarina and 4 in Paraná).
The company distributed 13,658 GWh in 1H21, with gross revenue of R$7.570 billion in
Celesc Distribuição - Consumption by Category 2Q21
Celesc Geração S.A.
Celesc Distribuição S.A. | Billed Energy by Consumption Category (in GWh)
Number of Consumer Units** | Consumption (GWh) | ||||||||
June 2020 | June 2021 | 2Q20 | 2Q21 | 1H20 | 1H21 | ||||
3,082,151 | 3,179,008 | 3.1% | 3,687 | 4,127 | 11.9% | 8,228 | 8,519 | 3.5% | |
2,427,732 | 2,504,932 | 3.2% | 1,490 | 1,571 | 5.4% | 3,261 | 3,398 | 4.2% | |
111,941 | 121,101 | 8.2% | 486 | 601 | 23.6% | 1,058 | 1,120 | 5.9% | |
281,718 | 292,052 | 3.7% | 668 | 777 | 16.3% | 1,620 | 1,633 | 0.8% | |
232,369 | 231,785 | -0.3% | 254 | 266 | 4.9% | 604 | 588 | -2.7% | |
23 | 11 | -52.2% | 454 | 555 | 22.2% | 966 | 1,081 | 11.9% | |
28,368 | 29,127 | 2.7% | 335 | 357 | 6.6% | 719 | 698 | -2.8% | |
23,498 | 23,943 | 1.9% | 78 | 98 | 24.5% | 196 | 190 | -3.0% | |
865 | 920 | 6.4% | 158 | 157 | -0.9% | 320 | 312 | -2.6% | |
3,612 | 3,841 | 6.3% | 96 | 99 | 3.6% | 196 | 190 | -3.3% | |
393 | 423 | 7.6% | 3 | 3 | 32.5% | 6 | 7 | 12.8% | |
1,249 | 1,463 | 17.1% | 2,055 | 2,665 | 29.7% | 4,320 | 5,139 | 19.0% | |
707 | 786 | 11.2% | 1,742 | 2,263 | 30.0% | 3,653 | 4,356 | 19.2% | |
506 | 624 | 23.3% | 236 | 311 | 31.7% | 514 | 622 | 21.0% | |
8 | 9 | 12.5% | 16 | 19 | 15.7% | 32 | 36 | 12.6% | |
Supply | 28 | 40 | 42.9% | 61 | 71 | 17.0% | 121 | 124 | 2.4% |
Other Categories | 0 | 4 | 0 | 1 | 0 | 1 | |||
Total Market | 3,083,400 | 3,180,471 | 3.1% | 5,742 | 6,792 | 18.3% | 12,547 | 13,658 | 8.8% |
Residential | 2,427,732 | 2,504,932 | 3.2% | 1,490 | 1,571 | 5.4% | 3,261 | 3,398 | 4.2% |
Industrial | 112,648 | 121,887 | 8.2% | 2,228 | 2,864 | 28.6% | 4,711 | 5,477 | 16.2% |
Commercial | 282,224 | 292,676 | 3.7% | 904 | 1,088 | 20.3% | 2,134 | 2,255 | 5.6% |
Rural | 232,377 | 231,794 | -0.3% | 270 | 285 | 5.6% | 636 | 623 | -1.9% |
Supply | 51 | 51 | 0.0% | 514 | 626 | 21.6% | 1,087 | 1,205 | 10.9% |
Other Categories | 28,368 | 29,131 | 2.7% | 335 | 358 | 6.8% | 719 | 700 | -2.6% |
Celesc Geração is a subsidiary of the Celesc Group that operates in the electricity generation segment by operating, maintaining and expanding its generation park, and holding interests in energy generation undertakings in partnership with private investors. Celesc Geração's total generation capacity was 118.21 MW in the period, of which 106.97 MW from its generation park, and 11.24 MW from partner generation parks - already proportional to Celesc Geração's stake in these undertakings.
Companhia de Gás de Santa Catarina - SCGÁS
SCGÁS is the second largest distributor of piped gas in terms of number of municipalities served in Brazil. Santa Catarina is the fourth state with the largest natural gas distribution network (1,157 kilometers) and the third state with the largest number of industries served with natural gas. It also has the third largest network of compressed natural gas (CNG) stations in the Brazil. The Company has 100% of the concession for the exploration of natural gas distribution services in Santa Catarina, selling and distributing approximately 1.9
million cubic meters of natural gas per day to approximately 13,500 customers.
For further information, please access the Company's website www.celesc.com.br/ri or contact the Investor Relations Area:
Phone: (55 48) 3231-5100ri@celesc.com.br
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CELESC - Centrais Elétricas de Santa Catarina SA published this content on 28 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2021 16:31:02 UTC.
