SAO PAULO, March 13, 2012 /PRNewswire/ -- Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. (BM&FBovespa: ELPL3, ELPL4; ADRs negotiates at US OTC Market), announced today its results for 4Q11 and 2011.
In 2011, the total market in the concession area grew by 4.1%, to a total of 45,101 Gwh. As a result of the good performance in the residential and commercial classes, the captive market increased by 3.9% in the year. While free clients expanded by 4.7% in the period, influenced by captive clients switching over to the free market.
The Company's result in 2011 was influenced by the following events: (i) a compensation payment from Brasiliana referring to the sale of AES Eletropaulo Telecom; (ii) the positive impact of the reversion in ICMS provision with respect to commercial losses; (iii) receipt of the 3rd payment tranche as part of the agreement with the MGSP; (iv) reversion of labour-related and tax provisions; (v) recognition of the monetary correction and interest on delayed payments, on the Finsocial contribution; (vi) the negative impact due to the reversion of special obligations (exceeded demand and reactive surplus) billed during the 2H11 and; (vii) the positive effect of postponing the implementation of the 3rd Tariff Review Cycle.
With the aim of continually aiming to improve its operational indicators, and thus delivering an increasingly high quality service to its clients, in 2011 the Company invested R$ 738.7 million, up 8.3% compared to 2010.
At the Annual General Meeting the Management will be proposing the distribution of R$ 620.1 million in the form of additional dividends and interest-of-equity, which is equivalent to 54% of the distributable earnings base. This amount, added to the interim dividends already distributed, results in a dividend yield of 15.8% for 2011.
Conference Call / Webcast
PRESENTATION:
Britaldo Soares - CEO
Rinaldo Pecchio - CFO and IRO
DATE: Friday, March 16, 2012
TIME: 10.30 (BR) / 9.30a.m. (EST)
CONNECTION:
- Brazil: (+55 11) 4688-6361
- USA: (1-888) 700-0802
- Other Countries: (1 786) 924-6977
Simultaneous translation into English
Conference call pass word: AES Eletropaulo
REPLAY: (+55 11) 4688-6312
CODE: 6412368
AVAILABILITY: 16/03/12 to 22/03/12
Slide presentation will be available on the website www.aeseletropaulo.com.br/ri
The Conference Call will be live broadcasted over the Internet on the same website, remaining available after the event.
CONTACT:
Andre Amorim
Phone: +55-11-2195-2428
E-mail: andre.amorim@AES.com
SOURCE AES Eletropaulo
