Privatized 20 years ago in September 1998, ENGIE Brasil Energia ends the third quarter of 2018 reporting results which confirm its successful trajectory over the period. Net income in 3Q18 was 475.4 million, (R$ 0.7282\/share), an amount 32.8% higher than the same period in 2017. Net operating revenue increased 50.4% compared with 3Q17, increasing to almost R$ 2.5 billion. This variation reflects the increase in the result for the short term energy market and business with trading companies, as well as the contributions made by the Jaguara and Miranda (MG) \u00a0hydro plants, acquired in an auction late last year.<\/p>\n

Ebitda (earnings before interest, taxes, depreciation and amortization) reached R$ 1,019.7 million, an increase of 43.5%. Ebitda margin was 41%.<\/p>\n

\u201cThe numbers qualify us to advance further in our long term strategy for transforming ENGIE into a major \u00a0player in energy infrastructure investment in Brazil\u201d, declares ENGIE Brasil Energia\u2019s Chief Executive Officer, Eduardo Sattamini. \u201cThe combination of efficient management of the asset portfolio and the capacity to grow profitably places us in a privileged position for offering \u00a0a differentiated investment platform to the investor\u201d, the executive points out. Sattamini is also commemorating winning the Transparency Trophy for the ninth time, this accolade being awarded by Anefac, Fipecafi and Serasa Experian to companies which are outstanding for the quality and consistency of their financial information.<\/p>\n

In the third quarter, the company drew down R$ 1,051.1 million in financing for the Campo Largo Wind Complex and the Pampa Sul thermoelectric plant (RS) under an agreement with the Brazilian Development Bank (BNDES).<\/p>\n

At a later event, approval was given to the credit of R$ 397 million (R$ 0.6082033686 per share) in interest on equity capital and in intermediate dividends for a total amount of R$ 652.7 million (R$ 1.00 per share).<\/p>\n

 <\/p>\n

PREPARING FOR SECTOR CHANGES<\/strong><\/span><\/h4>\n

\u201cWe are moving in the direction of diversification of our businesses although maintaining our focus on renewable generation as one of the important pillars of our strategy\u201d, says Sattamini. ENGIE Brasil Energia Chief Executive Officer, adds that the Company is preparing for the major changes which will occur in the sector over the next few years: \u201cThe fundamental role of technology with the innovations brought by big data, artificial intelligence and data analytics, combined with the tendencies in the electricity sector, principally with the expansion of the free market, will bring us still closer to the final consumer\u201d.<\/p>\n

 <\/p>\n

WIND FARMS AND DECARBONIZATION<\/strong><\/span><\/h4>\n

Five phase 1 wind farms at the Campo Largo (BA) Wind Complex began generating power in the third quarter. Campo Largo will be operating at full commercial capacity in the fourth quarter of this year. Again the Umburanas Wind Complex, also in the state of Bahia, and now with 66% of the work concluded, is expected to go into full operation by the second quarter of 2019. \u201cOur progress in wind is in line with our strategy of decarbonizing energy generation. This source of energy will soon become ENGIE\u2019s second largest in installed capacity in Brazil\u201d, declares Sattamini.<\/p>\n

 <\/p>\n

INCREASE IN CAPITAL STOCK<\/strong><\/span><\/h4>\n

The Company\u2019s Board of Directors also approved a proposal \u2013 to be submitted for a decision by the next Extraordinary General Shareholders Meeting, to be called in due course – for increasing the capital stock of ENGIE Brasil Energia, through the issue of new common shares to be granted to the \u00a0shareholders as a bonus in the proportion of 1 (one) new share for every four common shares.<\/p>\n

The bonus operation is designed to increase share liquidity in the market, \u00a0considering that there will be: a) a larger free float, potentially increasing trading volume; and b) by adjusting the share price through the bonus issue, the price per share becomes more attractive and accessible to a larger number of investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company also recorded an increase in energy volume sold, net operating revenue and Ebitda compared with the third quarter 2017<\/p>\n","protected":false},"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-15462","imprensa","type-imprensa","status-publish","format-standard","hentry","tipo-release-renewables"],"acf":[],"yoast_head":"\n