BARUERI, Brazil, May 7, 2014 /PRNewswire/ -- The 1Q14 was
marked by the result of the seasonality of energy strategy adopted
by the Company, which defined distinct profiles for ballast
(contracts) and ERM 2014 profiles. This strategy allowed gains in
the short term market at R$ 372.9
million above that registered in the same period of last
year.
Sales made in the short term market combined with a high
average price of spot were the main factor that caused the net
revenues to reach the amount of R$ 756.2
million in the quarter, 26.4% higher than in the 1Q13.
The established EBITDA was of R$ 593.5
million and the net income was of R$
357.9 million, 77.8% and 92.7% higher than that registered
in the first quarter of 2013, respectively.
In this period, the Company advanced its energy
commercialization strategy, especially in the acquisition +150
MWavg[1] for 2018. The average price of the new contracts signed
was of R$ 128/MWh.
The modernization program of the plants received investments
of R$ 37.2 million for Agua Vermelha,
Barra Bonita, Promissao and
Ibitinga, which aims at continuous improvement of the operational
conditions and efficiency of these plants.
The operational indicators of unscheduled outages remained at
low levels, with an average annual reduction of 39% over the last 4
years.
The Company will pay its shareholders R$ 254.1 million as an interim dividend,
corresponding to 71% of 1Q14's net income. This distribution is
an amount lower than the totality of the quarter's net income is
due to the restriction predicted by Brazilian corporate
law.
AES TIETE INVITES:
Call / Webcast
PRESENTATION:
Britaldo Soares - Chief Executive
Officer
Gustavo Pimenta - CFO and Investors
Relations Officer
DATE: Thursday, May 8th,
2014
TIME: 10h00 (BR) / 9h00 am (EDT)
Connection:
- BRAZIL: (+55 11)
3193-1001
- 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) 3193-1012
CODE FOR PORTUGUESE: 2018637#
CODE FOR ENGLISH: 4432856#
AVAILABILITY: 05.08.2014
until 05.14.2014
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.
The statements herein contained with regard to AES Tiete's
business prospects, projected operational and financial results and
the Company's growth potential are merely forecasts based on
Management's expectations for the Company's future. These
estimates are highly dependent on market changes and on the
economic performance of Brazil,
the electricity industry and the international market and are,
therefore, subject to change.
[1] Includes PPAs signed during the period of feb/26/14 to
mar/07/14
CONTACT:
Isabela Klemes Taveira
+55 11 2195 2212
isabela.taveira@aes.com
SOURCE AES Tietê