AES Eletropaulo Achieves a R$178.1 Million Reduction in Manageable PMSO Expenses in 2013 Comments by Mr. Gustavo Pimenta - CFO and Investor Relations Officer PR Newswire BARUERI, Brazil, Feb. 25, 2014 BARUERI, Brazil, Feb. 25, 2014 /PRNewswire/ -- The main financial highlight in 2013 was a drop of 13.5% or R$178.1 million in manageable PMSO expenses year-over-year, adjusted for inflation as measured by IGP-M. The Company achieved 178% of its initial reduction target for manageable PMSO expenses in the year. This shows management's commitment to the cost reduction program, which is intended to improve cost management at the Company through productivity and efficiency gains. The Company's EBITDA amounted to R$729.2 million in 2013, vs. R$575.4 million in 2012, a 26.7% rise. In turn, net income came to R$198.2 million in 2013, up R$143.2 million in relation to 2012. AES Eletropaulo's operational performance in 2013 shows the Company's commitment to the ongoing improvement of its client services, as well as its investments in quality and operational efficiency. As a result, the operational indicators improved significantly. SAIDI fell by 4.4% to 7.99 hours in 2013. SAIFI stood at 4.37 times, down 6.0% against 2012. Both indicators were below ANEEL's regulatory limit at the close of the year. In 2013, capital expenditures totaled R$ 809.1 million, R$ 644.3 million of which with the Company's own funds, mainly focused on regularizing over 75 thousand illegal connections, increasing the Company's installed capacity by 236MVA and improving its operational reliability continuously by performing maintenance works on 4,792 km of the grid and upgrading the substransmission and underground grids. Conference Call / Webcast PRESENTATION: Britaldo Soares – Chief Executive Officer Gustavo Pimenta – CFO and Investor Relations Officer DATE: Wednesday, February 26, 2014 TIME: 10:00 (BR) / 08:00 a.m. (EDT) CONNECTION: oBrazil: (+55 11) 4688-6341 oUSA: (+1) 888-700-0802 oOther countries: (+1) 786-924-6977 SIMULTANEOUS INTERPRETATION INTO ENGLISH. CONFERENCE CODE: AES Eletropaulo REPLAY: (+55 11) 4688-6312 CODE: 2872725# (Portuguese) and 1830254# (English) AVAILABLE FROM: from 02.26.2014 to 03.04.2014 The presentation slides will be available for viewing and downloading on the website www.ri.aeseletropaulo.com.br. The conference call will be broadcasted live on the Internet on the same website and remain available after the event. Investor Relations f. +55 11 2195-7048 SOURCE AES Eletropaulo Website: http://www.aeseletropaulo.com.br
AES Eletropaulo Achieves a R$178.1 Million Reduction in Manageable PMSO Expenses in 2013
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