SAO PAULO, Brazil, April 27 /PRNewswire-FirstCall/ -- EDP - ENERGIAS DO BRASIL S.A. ("Energias do Brasil") (Bovespa: ENBR3), a holding company in the utilities sector, trading on Bovespa's Novo Mercado, today announces its results for the first quarter 2007 (1Q07). The information is presented on a consolidated basis in accordance with Brazilian Corporate Law and is based on reviewed financial information. The independent auditors did not review the operating information. Amounts are expressed in thousands of Reais, except where otherwise stated.
-- Energy volume distributed in 1Q07 was 6,143 GWh, a year-on-year
increase of 3.0%, with the Mato Grosso do Sul market showing a
particularly strong recovery.
-- Enertrade reported a growth in commercialized energy of 2.4% compared
to 1Q06, with volumes attributed to free consumers registering a growth
of 11.6%, more than offsetting the end of sales contract with
Enerpeixe and the reduction in self-dealing contracts.
-- Generated energy volumes amounted to 1,469 GWh, 103.9% more than 1Q06,
reflecting full operation of the three generator units of the Peixe
Angical Hydroelectric Power Plant ("Peixe Angical"). The plant has a
total installed capacity of 452 MW. Figures also reflect the startup of
operations of the 4th turbine at the UHE Mascarenhas, which increased
the plant's installed capacity by a further 50 MW as from October 2006.
-- Net operating revenue for 1Q07 reached R$ 1,114.1 million, 13.0% more
than 1Q06. This performance was largely a result of the duplication of
the installed capacity in the generation business, as well as the
growth in volume of energy distributed and the readjustment in
tariffs in 2006.
-- The Redundancy Plan (PDV), implemented in June 2006, also produced
savings of R$ 11.7 million in 1Q07.
-- In 1Q07, EBITDA reached R$ 338.7 million, a growth of 20.2% over the
same period in 2006. This growth is mainly the result of the
commissioning of Peixe Angical and a more buoyant electricity power
market as a whole. The EBITDA margin grew 1.8 p.p. to 30.4% in 1Q07
compared to 28.6% in 1Q06.
-- Energias do Brasil reported net income of R$ 128.0 million in 1Q07
compared to R$ 99.3 million posted in 1Q06, a 28.9% increase.
-- Capital expenditures amounted to R$ 91.8 million in 1Q07, 34.7% down in
relation to the comparative period last year due mainly to the
completion of work at Peixe Angical.
-- On April 3, 2007, the industry regulator, Aneel authorized an average
tariff readjustment for Enersul of 8.05% for the period between April
2007 and March 2008. Factoring in financial adjustments already
included in the tariffs, the averaged effective tariff increase was
3.20%. It should be pointed out that Aneel again deferred the
application of the final installment of the 2003 tariff realignment --
now to be included in the periodic tariff reset in April 2008.
-- On April 10, 2007, Energias do Brasil announced the acquisition of the
rights to the UTE Maranhao. Enrolled in the next new energy auction set
for June 2007, the project involves a coal-fired thermal plant with an
installed capacity of 350 MW.
Please be advised that the complete version of this earnings release is available on our site in the Investor Relations section: http://www.energiasdobrasil.com.br/
For additional information, please contact:
Flavia Heller, IR Officer
Cleverson Murakawa, IR Analyst
