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Article: Electric power sector makes R$2.5bil profit over 2003.
- Article from:
- South American Business Information
- Article date:
- April 1, 2004
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Brazil, Mar 31, 2004 (O Estado de Sao Paulo/SABI via COMTEX)
According to a survey made by Economatica, 22 companies active in the Brazilian electric power sector reverted losses of R$10bil in 2002 and posted R$2.5bil profit in 2003, an increase of R$12bil over 2002's profit. Market sources affirmed the valuation of the Brazilian real over the US dollar pushed the performance, since the companies' indebtedness is tied to the US dollar. Financial net expenses fell from R$11bil to R$3bil and total debt dropped by 24.5% from R$53.3bil to R$40.3bil. AES Elpa, which controls the distributor Eletropaulo, registered a 47% fall in financial debt from R$7.08bil to ...