BARUERI, Brazil, Aug. 6, 2014 /PRNewswire/ -- The 2Q14 was
marked by the result of the seasonality of energy strategy adopted
by the Company, which defined distinct profiles of physical
guarantee for ballast (contracts) and ERM for 2014. This
strategy allowed gains in Ebitda of R$27 million above that registered in the same
period of last year.
Sales made in the short term market combined with a high
average spot price ("PLD") were the main factor that translated in
net revenues of R$ 694.4 million in
the quarter[1], 19.2% higher than in the
2Q13. The Ebitda was of R$ 431.0
million and the net income was of R$
251.2 million, 2.4% and 4.4% higher than that registered in
the second quarter of 2013, respectively.
In this period, the Company advanced its energy
commercialization strategy securing ~100MWavg of long term energy
contracts, with average term of 4.5 years at an average price of
R$ 153/MWh.
The modernization program of the plants received investments
of R$ 48.0 million, mainly destined
for the plants of Agua Vermelha, Barra
Bonita, Promissao and Bariri, which aims at continuous
improvement of the operational conditions and efficiency of AES
Tiete plants.
The operational indicators of unscheduled outages remained at
low levels, with an annual average reduction of 88% over the last 4
years.
The Company will pay its shareholders R$ 389.7 million as dividends, corresponding of
net income for the 2Q14, adjusted by equity valuation adjustments
and accumulated net income of 1Q14. First semester payout reached
106%.
AES TIETE INVITES:
Call / Webcast
PRESENTATION:
Britaldo Soares - Chief Executive
Officer
Gustavo Pimenta - CFO and Investors
Relations Officer
DATE: Thursday, August
7th, 2014
TIME: 11h00 (BR) / 10h00 am (EDT)
Connection:
- BRAZIL: (+55 11)
3193-1001 or (+55 11) 2820-4001
- 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 or (+55 11) 2820-4012
CODE FOR PORTUGUESE: 2521220#
CODE FOR ENGLISH: 5689119#
AVAILABILITY: 07.08.2014 to 13.08.2014
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] Adjusted by Financial Surplus of R$
63.6 million, with no impact on the Company's EBITDA.
IR Contact: +55-11-2195-2212
SOURCE AES Tietê