AES Tiete's Net Income Reaches R$ 229.5 Million in 2Q12
Comments by Mr. Rinaldo Pecchio - Financial and Investor Relations Officer
SAO PAULO, Aug. 3, 2012 /PRNewswire/ -- AES Tiete S.A. (BM&FBovespa: GETI3 and GETI4; OTC: AESAY and AESYY) announced today its results for 2Q12.
In 2Q12, AES Tiete's net revenues totaled R$ 535.2 million, up 30.8% from 2Q11, mainly due to the change in the seasonality of the bilateral contract with AES Eletropaulo and coupled with the price adjustments in the energy sold through the same contract, as well as the higher prices practiced on the spot market.
The Company recorded EBITDA of R$ 404.2 million in 2Q12, representing a year-over-year growth of 32.8%, whereas net income came to R$ 229.5 million, a 43.0% rise over the same period in 2011.
In keeping with the shareholder remuneration policy adopted since 2006, AES Tiete has proposed paying out the whole of the 2Q12 distributable income in the form of dividends.
In 2012, the Company keeps focusing on operational excellence and energy generation availability, with investments amounting to R$ 174.1 million in the year. The funds are going to be primarily allocated to modernization and preventive maintenance work in the Agua Vermelha, Ibitinga, Nova Avanhandava and Caconde power plants.
AES TIETE INVITES TO:
Teleconference / Webcast
Mr. Britaldo Soares – Chief Executive Officer
Mr. Rinaldo Pecchio – CFO and Investor Relations Officer
DATE: Monday, August 6, 2012
TIME: 10:00 A.M. (BR) / 09:00 A.M. (EST)
- Brazil: (+55 11) 4688-6361
- USA: (+1) 888 700-0802
- Other countries: (+1) 786 924-6977
SIMULTANEOUS INTERPRETATION INTO ENGLISH WILL BE PROVIDED.
CONFERENCE CODE: AES Tiete
REPLAY: (+55 11) 4688-6312
CODE FOR ENGLISH - 1230666#
CODE FOR PORTUGUESE – 1428266#
AVAILABLE FROM: 08.03.12 to 08.09.12
The presentation slides will be available for viewing and downloading on the website www.aestiete.com.br/ri
The conference audio will also be streamed live online, on the same website, where it will be available after the event.
CONTACT: Thatiana Zago
PHONE: +55 11 2195 2681
FAX: 55 11 2195 2503
SOURCE AES Tiete S.A.
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