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

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