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Article: AES Tiete Recorded Net Income of R$ 187.7 Million in 3Q08, Which Will Be Fully Distributed as Dividends.
- Article from:
- PR Newswire
- Article date:
- November 13, 2008
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SAO PAULO, Brazil, Nov. 13 /PRNewswire-FirstCall/ -- AES Tiete S.A. (Bovespa: GETI3 and GETI4; OTC Bulletin Board: AESAY and AESYY) today announced its results for the 3rd quarter 2008.
Comments by Mr. Alexandre Innecco - Finance and Investor Relations Officer
In the third quarter of 2008, AES Tiete's EBITDA was R$ 333.7 million, 20.6% higher than in the third quarter of 2007, while net income totaled R$ 187.7 million, which represents an increase of 33.0% over the same period the previous year.
The higher price of energy sold through the bilateral contract (13.44%), adjusted annually in July by the IGP-M, positively impacted the Company's ...