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Article: AES Meets Full Year 2008 Guidance For Consolidated Operating Cash Flow of $2.2 Billion And Free Cash Flow Of $1.4 Billion
- Article from:
- Targeted News Service
- Article date:
- February 26, 2009
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AES Corporation issued the following news release:
The AES Corporation (NYSE: AES) today reported solid results for 2008 with a 19 percent increase in revenue and nine percent growth in gross margin. This strong performance resulted from improved operations in Latin America and Europe, reductions in operating costs across its global portfolio of generation and distribution businesses, as well as lower overhead costs.
"We achieved our full year cash flow expectations in a challenging environment," said Paul Hanrahan, President and Chief Executive Officer. "In response to market conditions, we also took immediate steps to preserve liquidity by limiting our spending on new business development ...