EDB to invest $ 611 mm in 2008

Mar 06, 2008 01:00 AM

Brazilian power holding company EDB plans to invest reais 1.02 bn ($ 611 mm) in 2008, company VP of finance and investor relations Antonio Sellare told. The 2008 investment plan includes reais 585 mm for generation and reais 438 mm for distribution.
"Most of the investments in generation will be related to construction of the Pecem thermo plant in Ceara state. In distribution, most of the investments will go to upgrading and updating our distribution networks," Sellare said.

In 2007, the company invested reais 581 mm, including reais 475 mm in distribution and reais 106 mm in generation. Investments in the coal-fired Porto do Pecem plant will reach $ 1.2 bn.
Pecem will work with installed capacity of 720 MW, starting in 2011. Plant owners EDB and partner MPX will sell power to regulated and free market clients.

In related news, EDB posted net profits of reais 440 mm in 2007, up 12 % from reais 394 mm in 2006, the company said. In the fourth quarter alone, net profit fell 56 % to reais68 mm.
Gross operational revenue rose 11 % to reais 6.89 bn in 2007, while Ebitda in the period increased 5 % to reais 1.12 bn, the company said. Gross operational revenue and Ebitda in Q4 fell 4 % and 46 % to reais 1.62 bn and reais 156 mm respectively, EDB said.

The decrease in Q4 figures reflects the decision by power regulator Aneel to reduce distribution subsidiary Escelsa's rates.
"If it hadn't been for the reduction, Ebitda would have gone up 16 % to reais 1.3 bn," Sellare said. Net revenue fell 1 % in the fourth quarter to reais 1.08 bn but increased 13 % in 2007 as a whole to reais 4.51 bn, EDB said.

Power distribution grew 4.5 % to 25.0 TWh in 2007. In the fourth quarter, distribution was up 6.5 % to 6.43 TWh.
EDB is the holding company for Portuguese state power company EDP's Brazilian assets.

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« September 2019 »
September
MoTuWeThFrSaSu
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30

Register to announce Your Event

View All Events