AES Tiete Posted Net Income of R$ 216.4 Million in 3Q10 to be Fully Distributed as Dividends

^{Published on 2010-11-08 06:55:19 - Market Wire}
 

AES Tiete Posted Net Income of R$ 216.4 Million in 3Q10 to... -- SAO PAULO, Nov. 5, 2010 /PRNewswire-FirstCall/ --

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 [ 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.

SOURCE AES Tiete S.A.

RELATED LINKS
[ http://www.aestiete.com.br/ri ]