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Article: AES Tiete Recorded Net Income of R$ 134.1 Million in 2Q08, Which Will Be Fully Distributed as Dividends.
- Article from:
- PR Newswire
- Article date:
- August 14, 2008
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SAO PAULO, Brazil, Aug. 13 /PRNewswire-FirstCall/ -- AES Tiete S.A. (Bovespa: GETI3 and GETI4; OTC: AESAY and AESYY) today announced its results for the 2nd quarter, 2008.
Comments by Mr. Alexandre Innecco - Finance and Investor Relations Officer AES Tiete registered an EBITDA of R$ 288.9 million, 24.2% higher than in the second quarter of 2007, while the net income of R$ 134.1 million represents a 5.6% reduction in comparison to the same period of last year.
The increase in the IGP-M, index used to adjust the Company's financial debt, negatively impacted the net financial result and, consequently, its net income. As of July, the same index has been ...