About the report
We present you the hotsite of our Annual Report 2019, an extract of the complete Annual Report 2019 information, written based on the best global practices of management and corporate sustainability reports.
For our 2019 Annual Report, we executed an integrated materiality process, with the objective of alignment and synergy between Eletrobras companies, enabling a more convergent and transparent communication with our stakeholders. This process – described below – was carried out in order to map the topics with the greatest potential for impact and value creation, as per our business strategy and the impact perception obtained from our stakeholders.
The table below is the result of the materiality determination process. The limits determine where or in which audiences the impacts occur, and capital is based on the concept proposed by the framework of the IIRC (International Integrated Reporting Council) for the grouping of the different types of input or resources used by Eletrosul companies to generate value.
In our website you will find detailed information about the company’s operational and economic performance, shown in the Management Report and in the Financial Statements. Clarifications can also be obtained via firstname.lastname@example.org or +55 (48) 3231-7690.
In 2019, the process of unification of the Eletrosul operations and Companhia de Geração Térmica de Energia Eletrica (CGTEE) significantly advanced. This corporate restructuring process was provided for in the Eletrobras Companies Business and Management Master Plan and aimed at obtaining operational, economic-financial and tax synergy for the companies involved, providing efficiency gains and optimization of results.
The senior management of Eletrosul and CGTEE acted strongly to overcome many challenges arising from the restructuring, as this operation would have to be approved by governmental and regulatory bodies involved, as well as creditors and other stakeholders.
In order to promote this operation, considered strategic, the Holding approved the capitalization of CGTEE’s debt, in the amount of R$ 4.7 billion. In addition to the company’s financial reorganization, the corporate restructuring also included the extensive renovation and modernization of the Candiota III Thermoelectric Plant (UTE), in Rio Grande do Sul, in an action named Overhaul. The UTE, which has an installed capacity of 350 MW, returned to record an excellent performance at the end of the year.
We can also highlight in 2019, the commitment of top management to negotiate the assets and environmental studies related to the Lot A projects – which were not concluded due to unfeasible partnerships –, which caused the recovery of almost 80% of the amount previously invested with the new dealers.
With regard to digital transformation, SAP brought an essential improvement to the management processes of Eletrobras companies, with the standardization and automation of activities and information, the integration of areas and resources, in addition to the possibility of greater management of the subsidiaries by the holding.
We wish to keep growing, but without taking sustainability out of focus.
Economically, our results in 2019 are R$ 168 million. Additionally, we can emphasize that our expectations for 2020, with the restructuring, are having a considerable increase in our revenue. Environmentally, we will have the challenge of diversifying the energy matrix, considering the inclusion of thermoelectric generation in the company’s portfolio resulting from the unification process of Eletrosul and CGTEE operations. Projects such as the UTE Candiota III are essential to the Brazilian energy model, and our commitment will be to systematically monitor and reduce greenhouse gas emissions, minimizing their effects. With the installation of a processing plant, we will improve the quality of the coal used in the plant, aiming at an even more efficient production. Socially, we have implemented programs aimed at regional development and valuing the communities present in the areas in which our company operates, with results from social transformation with a focus on education and culture. We also strictly comply with the conditions set out in the licenses issued for Eletrosul’s various projects. Lastly, sustainability is in our purpose: being recognized for excellence in actions and management, and for the sustainability culture.
In 2020, may we reach our expectations and disclose good results again.
Eletrobras and its companies have been monitoring, since January 2020, the evolution and possible impacts caused by the coronavirus pandemic, Covid-19, and following the recommendations of the Ministry of Health and the governments of the states and cities where its operations are located. To coordinate and monitor all actions related to the pandemic, on March 17, 2020, the Eletrobras Companies Crisis Monitoring and Management Committee was created, formed by the holding’s Executive Board, the Presidents of its controlled companies and the Chief Executive Officer of Cepel.
Due to the need to preserve its essential activities, the company, as far as possible, took several actions:
- ANTICIPATED VACATIONS;
- APPROVED HOURS BANK COMPENSATION;
- AUTHORIZED TELEWORKING;
- RESTRICTED NATIONAL TRAVEL;
- LIMITED THE NUMBER OF PEOPLE AT IN-PERSON MEETINGS;
- SUSPENDED TRAVEL AND PLACED EMPLOYEES WHO HAD SYMPTOMS IN QUARANTINE; AND
- ALSO ASKED THEIR SERVICE PROVIDERS TO EQUALLY OBSERVE ALL THE GUIDELINES OF THE MINISTRY OF HEALTH.
With regard to the operation, a contingency action plan was created with the objective of mapping, monitoring and guiding employees on the actions required in generation and transmission operations.
In this very unusual moment for all, Eletrobras has demonstrated high resilience, a high degree of commitment and a clear purpose for all its managers and employees to generate and transmit the energy that Brazil needs to fight the pandemic, preserve lives and maintain economic activities.