AES Tiete's Net Income Reaches R$ 844.9 Million In 2011
Comments by Mr. Rinaldo Pecchio - Financial and Investor Relations Officer
14 Mar, 2012, 07:39 ET
SAO PAULO, March 14, 2012 /PRNewswire/ -- AES Tiete S.A. (BM&FBovespa: GETI3 and GETI4; OTC: AESAY and AESYY) announced today its results for 2011.
In 2011, AES Tiete's net revenues totaled R$ 1,886.0 million, up 7.5% from 2010, due to the price adjustments of the energy sold through the bilateral contract with AES Eletropaulo and the higher volume of energy sold through other bilateral contracts. The Company recorded EBITDA of R$ 1,466.4 million in 2011, up 11.1% from 2010, whereas net income of R$ 844.9 million represents a 14.6% rise in the same period.
In keeping with the shareholder remuneration practice adopted since 2006, AES Tiete has proposed distributing the whole of the 2011 distributable income (R$ 922.2 million), corresponding to 109.2% of the year's net income. This proposal is going to be submitted to the General Shareholders' Meeting to be held on April 16, 2012 for approval. It is worth noting that dividends amounting to R$ 639.0 million, corresponding to the first nine months of the year, have been paid in advance throughout 2011.
In 2012, the Company is going to keep 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 in Agua Vermelha, Ibitinga, Nova Avanhandava and Caconde powerplants.
AES TIETE INVITES TO:
Teleconference / Webcast
Mr. Britaldo Soares – Chief Executive Officer
Mr. Rinaldo Pecchio – CFO and Investor Relations Officer
DATE: Friday, March 16, 2012
TIME: 09:30 (BR) / 08:30 (EDT)
- 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 - 9360434
CODE FOR PORTUGUESE - 3974688
AVAILABLE FROM: 03.16.2012 to 03.22.2012
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: LUCIANA SILVESTRE
PHONE: +55 11 2195 2282
FAX : 55 11 2195 2503
E-MAIL: [email protected]
SOURCE AES Tiete S.A.
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