AES Eletropaulo Records EBITDA of R$ 488.6 Million on the 3Q10

^{Published on 2010-11-08 06:55:26 - Market Wire}
 

AES Eletropaulo Records EBITDA of R$ 488.6 Million on the 3Q10 -- SAO PAULO, Nov. 4, 2010 /PRNewswire-FirstCall/ --

SAO PAULO, Nov. 4, 2010 /PRNewswire-FirstCall/ -- Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. (BM&FBovespa: ELPL3, ELPL5 and ELPL6; OTC: EPUMY and ELPSY), announced today its results for 3Q10.

Comments by Mr. Rinaldo Pecchio– CEO and Investor Relations Officer

Captive customers' consumption in AES Eletropaulo's concession area rose by 2.0% year-over-year in 3Q10 to 8,915 GWh. The total market increased by 4.4% due to the high consumption of free customers, 2,023 GWh, in the quarter.

The positive 8.00% Tariff Adjustment, approved by ANEEL, has been effective by the company since July 4, 2010, with an average effect perceived by consumers of 1.62%.

Thus, the Company's net revenue grew 3.9% year-over-year. In addition, both EBITDA and Net Income increased by 9.8% and 22.7% respectively, also impacted by lower expenses on energy purchased for resale, personnel and private pension fund, and less provisions for contingencies. It is worth noting that in August 2010 we also received the partial payment of the second installment related to the agreement with the Municipal Government of Sao Paulo (MGSP).

Another positive highlight is a rise in investments in 2010. In 3Q10, the Company recorded the highest capital expenses in 2010, R$ 154.3 million, allocated to adding new clients and recovering losses, as well as preventive and corrective maintenance.

Conference Call / Webcast

A slide presentation will be available for viewing and downloading on the website [ www.eletropaulo.com.br/ri ].

The Conference Call will be broadcasted live over the Internet on the same website, remaining available after the event.

SOURCE AES Eletropaulo