ENGIE Brasil Energia\u2019s third quarter 2019 results were marked by positive indicators, \u00a0the company reporting a net income of R$ 742.7 million (R$ 0.9099\/share), 56.2% higher than reported for the same period in 2018. Ebitda (earnings before interest, taxes, depreciation and amortization) in 3Q19 amounted to R$ 1.58 billion, an increase of 55.1% compared with 3Q18. Net operating revenue was R$ 2.49 billion, 0.2% higher than recorded for the same period last year.<\/p>\n

\u201cResults reflect the recent expansion in our installed capacity, the first full quarter with a positive contribution from TAG to Ebitda, as well as the efficient management of the company\u2019s portfolio and good control over costs\u201d, explains ENGIE Brasil Energia\u2019s chief executive officer, Eduardo Sattamini. \u201cThe entry into commercial operations of three new plants \u2013 the Campo Largo (Phase I) and Umburanas (Phase I) wind complexes \u2013 and the Pampa Sul Thermoelectric Power Plant represented a contribution \u00a0of 10,5% of the value of the EBITDA in the third quarter. Considering the costs of the new plants starting operations, the company reported a 10.2% reduction in total costs, evidencing the increase in operational efficiency\u201d, he adds.<\/p>\n

Another positive impact was the receipt of R$ 321 million in the period with the execution\u00a0 of a performance bond as indemnification for\u00a0 a delay in the delivery of\u00a0 work on the Pampa Sul plant. \u201cEven if this were excluded, our Ebitda would have been about 25% higher year-on-year\u201d, the executive points out. \u201cThese results are reason to remain excited about future prospects and proceed with our strategy of seeking leadership in the energy transition process\u201d.<\/p>\n

Issue of Debentures <\/strong>\u2013 In August, ENGIE Brasil Energia concluded its ninth debenture issue in four series in the amount of R$ 1.6 billion and supporting investments in the Assu V (solar), Umburanas (wind), Jaguara and Miranda (hydro power) projects. At the time, this was the largest infrastructure debenture issue in Brazil.<\/p>\n

Financing<\/strong> \u2013 On October 29, the company finalized\u00a0 a financing agreement with the National Development Bank – Banco Nacional de Desenvolvimento Econ\u00f4mico e Social<\/em> (BNDES) for R$ 1.26 billion, to be allocated for the implementation of the Umburanas Wind Complex with an installed capacity of 360 MW and commercially operational since April.<\/p>\n

Important Events<\/strong> \u2013 In 3Q19, licenses for installation of the Ponta Grossa substation and for the first transmission lines of the Gralha Azul Transmission System in the state of Paran\u00e1 were issued. The Gralha Azul project involves more than 1,000 km of lines and five substations. Another highlight of the period was the award to the company for the tenth time of the Transparency Trophy, sponsored by the National Association of Finance, Administration and Accounting Executives (Anefac), the Financial,\u00a0Experian.<\/p>\n

In October,\u00a0 ENGIE was elected Company of the Year and ENGIE Brasil Energia as the best company in the energy sector in the \u00c9poca Neg\u00f3cios 360\u00b0 2019<\/em> yearbook.<\/p>\n

Dividends \u2013<\/strong> The Board of Directors has approved the distribution of R$ 893.4 million in the form of intermediate dividends (R$ 1.0949497919\/share), equivalent to 100% of the registered distributable net income for the first half of 2019. In addition, approval was given for the credit of R$ 354 million (R$ 0.4338619496\/share) as interest on equity capital for fiscal year 2019. Payouts will be made on a date to be decided in due course by the Management Board.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company approved the distribution of 100% of intermediate dividends and issued R$ 1.6 billion in the form of debentures<\/p>\n","protected":false},"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-22314","imprensa","type-imprensa","status-publish","format-standard","hentry","tipo-release-renewables"],"acf":[],"yoast_head":"\n