Brazil AES Eletropaulo 4Q Net BRL529.4 Million Vs BRL9.5 Million
March 27 2009 - 7:40AM
Dow Jones News
The Brazilian subsidiary of multinational energy company AES
Corp. (AES), known locally as AES Eletropaulo (ELPL6.BR), posted a
fourth-quarter net profit of 529.4 million Brazilian reals ($236
million) up from BRL9.5 million seen a year earlier, the company
said late Thursday.
The company attributed the rise of its net profit in the period
to a non-recurrent gain of BRL210 million in the period, due to tax
credits.
Eletropaulo reported net revenue of BRL1.98 billion in the
fourth quarter, up from BRL1.8 billion in the fourth quarter of
2007.
The company reported fourth-quarter earnings before interest,
depreciation and amortization, or EBITDA, of BRL554.9 million, up
from BRL145.9 million in the previous year.
For the entire year of 2008, the company reported a net profit
of BRL1.03 billion, up from BRL712.6 million in 2007.
-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-2847-4521;
rogerio.jelmayer@dowjones.com