AES Tiete's Net Income Comes To R$ 240.5 Million In 2Q13 Comments by Mr. Gustavo Duarte Pimenta - Financial and Investor Relations Officer PR Newswire SAO PAULO, Aug. 8, 2013 SAO PAULO, Aug. 8, 2013 /PRNewswire/ --In 2Q13, AES Tiete's net revenue totaled R$ 582.7 million, up 8.9% from the amount of R$ 535.2 million recorded in 2Q12. This performance was mainly due to the higher volume of energy sold through the bilateral contract with AES Eletropaulo, coupled with a 355 GWh growth in volume of energy sold through other bilateral contracts (489 GWh in 2Q13 versus 135 GWh in 2Q12). The Company's EBITDA came to R$ 420.8 million in 2Q13, up 4.1% year-over-year, whereas net income in the amount of R$ 240.5 million showed a 4.8% growth considering the same basis of comparison. In 2Q13, AES Tiete reviewed the estimate for the average physical guarantee lowering for 2013. The new estimate entails an average lowering that may range from 0.7% to 2.4%, considering thermal plant dispatches from 10.2 GW to 12 GW. Therefore, AES Tiete expects to purchase an energy volume varying from 296 GWh to 468 GWh in the spot market, so as to cover the exposure stemming from the above-mentioned review, at a corresponding annual cost that shall range from R$ 123 million to R$ 156 million versus Company's previous estimate of R$ 231 million to R$ 441 million. AES Tiete will distribute interim dividends to its shareholders in the amount of R$ 258.1 million, representing 100% of the net income for the semester. The dividend yield for 2Q13, considering both common and preferred shares, stood at 3.3%. AES TIETE INVITES TO: Conference Call / Webcast PRESENTATION: Mr. Britaldo Soares – Chief Executive Officer Mr. Gustavo Pimenta – CFO and Investor Relations Officer DATE: Thursday, August 08, 2013 TIME: 9:00 (BR)/8:00 a.m. (EDT) CONNECTION: oBrazil: (+55 11) 4688-6361 oUSA: (+1) 855 281-6021 oOther countries: (+1) 786 924-6977 SIMULTANEOUS INTERPRETATION INTO ENGLISH WILL BE PROVIDED. CONFERENCE CODE: AES Tiete REPLAY: (+55 11) 4688-6312 CODE FOR PORTUGUESE: 1611851# CODE FOR ENGLISH: 0076861# AVAILABLE FROM: 08.08.13 to 08.14.13 The presentation slides will be available for viewing and downloading on the website www.aestiete.com.br/ir. The conference audio will also be streamed live online, on the same website, where it will be available after the event. SOURCE AES Tiete Contact: Thatiana Zago, PHONE: 55 11 2195 2681, FAX : 55 11 2195 2503, E-MAIL: firstname.lastname@example.org
AES Tiete's Net Income Comes To R$ 240.5 Million In 2Q13
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