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Article: AES Tiete Recorded Net Income of R$ 692.5 Million in 2008, Which Will Be Fully Distributed as Dividends.
- Article from:
- PR Newswire
- Article date:
- March 27, 2009
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SAO PAULO, March 26 /PRNewswire-FirstCall/ -- AES Tiete S.A. (Bovespa: GETI3 and GETI4; OTC: AESAY and AESYY) today announced its results for the 4th quarter, 2008.
Comments by Mr. Alexandre Innecco - CFO and Investor Relations Officer
AES Tiete's EBITDA was R$ 1,254.4 million, 14.2% higher than in 2007, while net income totaled R$ 692.5 million, which represented an increase of 13.7% 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, and the maintenance of the level of costs and expenses positively impacted the Company's results.
Following ...