SAO PAULO, Nov. 5, 2010 /PRNewswire-FirstCall/ -- AES Tiete S.A. (OTC: AESAY and AESYY; BM&FBovespa: GETI3 and GETI4) announced today its results for the 3Q10.
Comments by Mr. Rinaldo Pecchio - Chief Financial and Investor Relations Officer
In 3Q10 AES Tiete posted net revenues of R$ 471.2 million, an increase of 5.8% year-over-year, mainly due to the 5.17% price adjustment in the bilateral contract with AES Eletropaulo, on July 4, 2010, and to the increase in the volume of energy sold through other bilateral contracts.
EBITDA reached R$ 357.2 million in 3Q10, practically unchanged versus 3Q09, and net income increased by 2.3% year-over-year to R$ 216.4 million.
Following the practice of dividends distribution that has been applied by the Company since 2006, on November 5, 2010, the Board of Directors approved the proposal for the net income obtained in 3Q10 to be fully distributed as dividends.
Conference Call / Webcast PRESENTERS: Britaldo Soares - Chief Executive Officer Rinaldo Pecchio - Chief Financial Officer and Investor Relations Officer DATE: Monday, November 8, 2010 TIME: 2:30 p.m. (BR) / 11:30 a.m. (EST) 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: 47776 AVAILABILITY: November 11 to November 14, 2010
The presentation slides will be available for viewing and downloading from the website http://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.
AES Tiete S.A.
CONTACT: Nadia Harada, AES Tiete S.A., +011-55-11-2195-2286, Fax:
+011-55-11-2195-2503, nadia.harada@aes.com
Web Site: http://www.aestiete.com.br/ri
