1

1Q08 Results Conference Call

May 07, 2008
2
70 GWh reduction in losses (last 12 months)
Temperatures 1.3 below the historical average reduced consumption in Lights
concession area
Light Energia: sales to the free market increased by 104%, through Light Esco.
Commercialization: new contracts and negotiation of energy surplus from
generation
1Q08 net income totaled R$ 104 million, 10% above 1Q07
35.7% reduction in net debt
8.2% reduction in financial expenses
Capex increased by 64% compared to 1Q07
New generation projects are on schedule
Installation of 4,400 electronic meters, to the Loss Fight Project
1Q08 Highlights
FINANCIAL
RESULTS
MARKET
INVESTMENTS
3
Energy Sales
Light SESA
Electric Energy Comsumption (GWh)
Total Market (Captive + Free)
4,902 4,822
1,355
1,343
6,257
6,165
1Q07 1Q08
Captive Free
-1.6%
-0.9%
-1.5%
Electric Energy Comsumption (GWh)
1,355
800
1,533
509
2,060
1,343
810
1,533
451
2,027
Residential Industrial Commercial Others Free
-1.6% -11.3% 0.0% 1.3% -0.9%
1Q07 1Q08
4
Temperature Historical X Real
Temp. Historical Average
Temp. Realized
Charge (GWh) vs Temperature (C)
1,500
1,800
2,100
2,400
2,700
3,000
J
a
n
-
0
5
M
a
r
-
0
5
M
a
y
-
0
5
J
u
l
-
0
5
S
e
p
-
0
5
N
o
v
-
0
5
J
a
n
-
0
6
M
a
r
-
0
6
M
a
y
-
0
6
J
u
l
-
0
6
S
e
p
-
0
6
N
o
v
-
0
6
J
a
n
-
0
7
M
a
r
-
0
7
M
a
y
-
0
7
J
u
l
-
0
7
S
e
p
-
0
7
N
o
v
-
0
7
J
a
n
-
0
8
M
a
r
-
0
8
15
20
25
30
5
Light Esco
Net Revenue per Segment
Broker
(R$ MM)
0.9
0.7
1Q07 1Q08
+ 85%
Services
(R$ MM)
1.0
0.6
1Q07 1Q08
+ 27%
Trader
(R$ MM)
27.9
4.5
1Q07 1Q08
+ 522%
6
Loss Fight Evolution
Reduction of 70 GWh in losses in the first quarter of 2008, representing a reduction of
0.1 p.p. over the grid load from december 2007 to march 2008.
Light Losses Evolution
12 month
6
,
7
6
4
6
,
8
3
4
6
,
6
1
1
6
,
4
5
7
6
,
2
3
2
20.5
19.5
19.8
20.2
20.6
Mar-07 Jun-07 Sep-07 Dec-07 Mar-08
GWh Losses % Losses / Grid Load (Own + Transport)
7
Loss Fight
Prevention
Integrated Actions
8
23.50
13.11
1Q07 1Q08
Inspected Customers
Normalized Customers
Total Energy Recovery (GWh)
52,301
47,404
1Q07 1Q08
27,309
8,251
1Q07 1Q08
10.3%
231.0%
79.2%
Loss Fight
Recovery of Energy Indicators
9
New Technologies (Measurement Control Center - CCM)
Provides automation and improvement in commercial processes, through telemetric, enabling reading,
cut and reconnection by distance.
Loss Fight
Action Plan 2008
10
New Technologies (Working)
Supply quality unprovement
Customer support agility
Lower operating cost
Energetic Balance (loss reduction)
Remote Services (reading, reconnection, cut)
Loss Fight
Action Plan 2008
11
Collection Evolution
R$MM 1Q08 1Q07 Var.
PDD 57.9 70.4 12.5
Collection Rate
12 month moving average
93.5%
94.5%
93.9%
94.1%
95.6%
96.5%
98.5%
99.4% 99.4%
Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08
12
Net Revenue
R$ million
1,316
1,327
1Q07 1Q08
- 0.8%
Financial Highlights
1Q08
+ 0.9%
+ 1.8%
47%
57%
63% 64%
53%
43%
37% 36%
2005 2006 2007 1Q08
Core Areas Support
13
EBITDA
R$ million
328
304
1Q07 1Q08
Net Income
R$ million
94
104
1Q07 1Q08
-7.3%
Financial Highlights
1Q08
10.2%
EBITDA per segment*
2008
Distribution
78.3%
Generation
19.9%
Commercial.
1.8%
*Does not consider eliminations
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Capital Expenditures
Focus on excellent service rendering
Investments in energy generation, distribution network development and loss fighting

+
6
4
,0
%
Capital Expenditures
(R$ MM)
93
57
355
322
277
2005 2006 2007 1Q07 1Q08
+
6
4
.0
%
15
Indebtedness
(1) Net Debt = Total Debt - Cash
(2) Excludes Braslight
Short
Term
5%
Long
Term
95%
Foreign
Currency
8%
Brazilian
Currency
92%
* 5% if hedge
is considered
*
-33.8%
Net Debt (ex-Braslight)
(R$ million)
2,339
1,462
1,549
1Q07 4Q07 1Q08
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This presentation may include declarations that represent forward-looking statements according
to Brazilian regulations and international movable values. These declarations are based on certain
assumptions and analyses made by the Company in accordance with its experience, the economic
environment, market conditions and future events expected, many of which are out of the
Companys control. Important factors that can lead to significant differences between the real
results and the future declarations of expectations on events or business-oriented results include
the Companys strategy, the Brazilian and international economic conditions, technology, financial
strategy, developments of the public service industry, hydrological conditions, conditions of the
financial market, uncertainty regarding the results of its future operations, plain, goals,
expectations and intentions, among others. Because of these factors, the Companys actual
results may significantly differ from those indicated or implicit in the declarations of expectations
on events or future results.
The information and opinions herein do not have to be understood as recommendation to
potential investors, and no investment decision must be based on the veracity, the updated or
completeness of this information or opinions. None of the Companys assessors or parts related to
them or its representatives will have any responsibility for any losses that can elapse from the
use or the contents of this presentation.
This material includes declarations on future events submitted to risks and uncertainties, which
are based on current expectations and projections on future events and trends that can affect the
Companys businesses. These declarations include projections of economic growth and demand
and supply of energy, in addition to information on competitive position, regulatory environment,
potential growth opportunities and other subjects. Various factors can adversely affect the
estimates and assumptions on which these declarations are based on.
Forward-Looking Statement