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The Investors section contains information about ENGIE Brasil Energia S.A., which is the
ENGIE's group company listed in the Brazilian Stock Exchange (B3: EGIE3, ADR: EGIEY).
Report on the Brazilian corporate governance code
The Brazilian Corporate Governance Code, which adopts the “Practice and Explain” model, includes a series of recommended practices with respect to key questions of governance such as the shareholding structure, management composition, ethics and internal controls. CVM Instruction 586 requires that companies disclose information on the application of each one of the principles/practices provided in the Code. By eventually deciding not to adopt a recommended practice, companies must explain the reasons for such a decision. The Brazilian Corporate Governance Report is prepared annually and updated whenever necessary. ENGIE Brasil Energia recognizes and works continually to improve aspects linked to Corporate Governance in line with the best recommended practices and the maturity of its internal structures.
Report on the Brazilian Corporate Governance Code 2018
Sustainable growth with financial discipline
ENGIE Brasil Energia´s growth strategy is based on the principles of sustainable development. From the economic point of view, the Company's objective is to increase revenue on the basis of the improvement in future energy prices and on the expansion of its generating complex, conditional on obtaining an adequate remuneration for its investments. In addition, its solid financial condition, with a reduced level of debt combined with strong cash generation, permits growth through participation in new projects as well as possible acquisitions.
Efficient client portfolio
The optimization of ENGIE Brasil Energia's client portfolio is thanks to the balance which is maintained between the regulated and free segments (the free segment is composed of clients with the freedom to acquire electricity from another supplier which is not the energy distributor to which they are connected into the grid). The Company possesses substantial flexibility in meeting the needs of its client base and developing loyalty-driven initiatives and programs in addition to rendering various services directed towards the efficient use of energy at clients' installations. The Company has also invested in the strategy of diversifying the sectors from which its draws its free clients as a way of diluting risks. The strategy of combining efficient credit analysis with flexibility in the composition of the energy sales contracts has resulted in zero delinquency in the segment.
ENGIE Brasil Energia is seeking to develop technological excellence as well as that of its professionals in order to achieve a solid operational performance and an enhanced degree of productivity reflected in a continuous evolution in operational margins. The Company has successfully maintained plant uptime, discounting programmed stoppages under its preventive maintenance plans, around 95%. These levels ensure that ENGIE Brasil Energia is always prepared to meet unforeseen demands and market opportunities in addition to reinforcing its future commercial capacity.
Risks and business opportunities management
The analysis of corporate risks and opportunities is conducted through a systemic process at ENGIE Brasil Energia, which permeates all corporate activities and involves all employees and senior management. The process is conducted by the Risk Management Committee, responsible for promoting awareness as to corporate risks, establishing goals and guidelines and suggesting management improvements as well as procedures for controlling company risks.
In 2016, the Board of Directors of ENGIE Brasil Energia approved a new Policy for Management of Risks and Opportunities, with the following objectives:
- Creation and maintenance of value, reputation and internal motivation.
- Encouraging a certain degree of risk exposure, deemed reasonable as to legal, economic and social aspects.
- Assurance of conformity of actions with legal and regulatory obligations as well as with ENGIE Brasil Energia’s values.
Therefore, the analysis of business risks encompasses their identification and classification as to the probability of occurrence and significance in terms of financial, strategic and operational impact. From this analysis, action plans are developed for each risk and potential associated opportunities are identified.