SAO PAULO, Brazil, May 11 /PRNewswire-FirstCall/ -- AES Tiete S.A. (OTC: AESAY; AESYY) (Bovespa: GETI3; GETI4) today announced its results for the first quarter of 2007.
Commentary by Mr. Britaldo Soares - Chief Financial Officer and Investor Relations Director
AES Tiete posted EBITDA of R$ 287.2 million, 4.9% higher than the first quarter of 2006, and a net income of R$ 160.5 million, which is 5.0% superior to the amount reported in the same period last year. This result strengthens the Company's commitment to continue improving its margins and optimizing the use of resources in order to achieve better returns to the shareholders.
In line with its dividend policy, on May 11th, 2007, the Board of Directors authorized the distribution of 100% of the net earnings obtained in 1Q07, R$ 160.5 million, in dividends.
AES Tiete has been analyzing new opportunities of investment and expansion, aiming at increasing the Company's results. On April, 10th, its wholly-owned subsidiary AES Rio PCH Ltda obtained Aneel's approval to transfer the acquired Licenses to build three small hydropower plants in the state of Rio de Janeiro, with a total installed capacity of 52 MW. The investment is estimated at R$ 225 million.
Conference Call / Webcast
Date: Monday, May 14th, 2007
Presentation:
Eduardo Jose Bernini - Chief Executive Officer
Britaldo Pedrosa Soares - Chief financial Officer and Investor Relations
Director
Portuguese
Time: 10:00h (BR) / 09:00 a.m (EST)
Connection: (+55 11) 4688-6301
English
Time: 11:30h (BR) / 10:30 a.m. (EST)
Connection: Brazil: (+55 11) 4688-6301
USA: (1-800) 860-2442
Other countries: (+1-412) 858-4600
Conference code : Eletropaulo and Tiete
Replay: (11) 4688-6225
Code: 737
Available: 05/14/07 to 05/22/07
The conference call audio will be simultaneously transmitted via internet, together with a slide presentation.
Access: http://ri.aestiete.com.br/
