SAO PAULO, Aug. 6 /PRNewswire-FirstCall/ -- AES Tiete S.A. (OTC: AESAY and AESYY; BM&FBovespa: GETI3 and GETI4) announced today its results for the 2Q10.
Comments by Mr. Rinaldo Pecchio - Chief Financial Officer and Investor Relations Officer
In 2Q10, AES Tiete's EBITDA totaled R$ 299.3 million, down 7.9% year-over-year, while net income reached R$172.4 million, down 13.5% in comparison to the same period in the previous year. The main reason for these variations was the anticipation to 1Q10 of part of the energy volume to be sold to AES Eletropaulo through the bilateral contract.
Following the practice of dividends distribution that has been applied by the Company since 2006, the net income recorded in 2Q10 will be fully distributed to the shareholders as dividends.
In May 2010, we carried out our 1st debentures issuance in the amount of R$ 900 million. The proceeds were fully used for the pre-payment of the debt with Eletrobras, indexed by IGP-M.
On July 4, 2010, the price of the bilateral contract with AES Eletropaulo was adjusted by 5.17% to R$ 159.85/MWh, due to the IGP-M variation in the period.
Conference Call / Webcast PRESENTERS: Britaldo Soares - Chief Executive Officer Rinaldo Pecchio - Chief Financial Officer and Investor Relations Officer DATE: Monday, August 9, 2010 TIME: 11:30 a.m. (BR) / 10:30 a.m. (EDT) CONNECTION NUMBERS: -- Brazil: (+55 11) 4688-6361 -- USA: (1-888) 700-0802 -- Other countries: (1 786) 924-6977 SIMULTANEOUS TRANSLATION INTO ENGLISH ACCESS CODE: AES Tiete REPLAY: (+55 11) 4688-6312 CODE: 47045 AVAILABILITY: August 9 to August 15, 2010
The presentation slides will be available for viewing and downloading from the website http://ri.aestiete.com.br/
The conference audio also will be transmitted live on the Internet, at the same site, where it will be available after the event.
CONTACT: LUCIANA SILVESTRE PHONE: 55 11 2195 2282 FAX: 55 11 2195 2503 E-MAIL: luciana.silvestre@aes.com
AES Tiete S.A.
CONTACT: Luciana Silvestre, AES Tiete, +011-55-11-2195-2282, Fax:
+011-55-11-2195-2503, luciana.silvestre@aes.com
Web Site: http://ri.aestiete.com.br/
