AES Tiete's Net Income Reaches R$ 244.0 Million in 3Q12 Comments by Mr. Rinaldo Pecchio - Financial and Investor Relations Officer
SAO PAULO, Nov. 6, 2012 /PRNewswire/ -- AES Tiete S.A. (BM&FBovespa: GETI3 and GETI4; OTC: AESAY and AESYY) announced today its results for 3Q12.
In 3Q12, AES Tiete's net revenues totaled R$ 543.1 million, up 4.7% from 3Q11. This performance was mainly due to the price adjustments in the energy sold through the bilateral contract with AES Eletropaulo, coupled with larger revenues deriving from the higher prices practiced on the spot market and the greater volume of energy sold through the Energy Reallocation System (MRE).
The Company recorded EBITDA of R$ 423.0 million in 3Q12, representing a year-over-year growth of 4.4%, whereas net income came to R$ 244.0 million, a 6.9% rise in the same period.
AES Tiete will distribute to its shareholders R$ 253.8 million in the form of dividends, equivalent to 104% of the net income registered in the quarter.
In 2012, the Company has maintained its focus on operational excellence and availability of generated energy, with investments amounting to R$ 166.8 million for the year. The funds are going to be primarily allocated to modernization and preventive maintenance in the power plants of Agua Vermelha, Ibitinga, Nova Avanhandava and Caconde.
AES TIETE INVITES TO:
Teleconference / Webcast
Mr. Britaldo Soares – Chief Executive Officer
Mr. Rinaldo Pecchio – CFO and Investor Relations Officer
DATE: Wednesday, November 7, 2012
TIME: 1:30 P.M. (BR) / 10:30 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 - 2094451#
CODE FOR PORTUGUESE – 2943720#
AVAILABLE FROM: 11.07.12 to 11.13.12
The presentation slides will be available for viewing and downloading on the website www.aestiete.com.br/ir
The conference audio will also be webcast, on the same website, where it will be available after the event.
CONTACT: Tatiana Anicet
PHONE: 55 11 2195 1289
FAX: 55 11 2195 2503
SOURCE AES Tiete S.A.