Investor Presentation
Successful buyout of EDP Brasil minorities under a positive sector and macro edp
context
Delisting Tender Offer on EDP Brasil
Tender offer price
Premium vs. previous day
R$ 23.73/share¹ ~22%
Stake in EDP Brasil
56%
88%
Pre tender offer
March 1st
Post tender offer
July 11th
Positive sector and macro developments in Brazil
Renewal of electricity distribution concessions
Released proposal (public hearing stage) reduced
sector risk perception
Utilities index recovery +25% since offer launch
↑
Declining interest rate
100%
SELIC rate expected cut in the short-term
10Y Bond Yield -270bps since offer launch
As of today
August 30th
Total equity investment €1.0Bn
Completion of the Tender Offer in just 6 months, an important step in the
implementation of EDP's strategy, allowing for greater exposure to networks
and renewables with inflation-indexed revenues, as well as synergies between
EDP's different business units, simplifying the business structure and providing
greater flexibility in the management of EDP's integrated presence in the
Brazilian market
↑
↑
Sound currency
+5% BRL appreciation vs. EUR since offer
launch (forex hedged for €1bn investment,
~€40m savings)
Economic growth
GDP growth forecast revised upwards from 1.9%
to 2.5%
1.
Post dividend adjustment
$
Investors' Presentation
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