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Name | Symbol | Market | Type |
---|---|---|---|
Engie Brasil Energia SA (PK) | USOTC:EGIEY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.21 | -2.48% | 8.26 | 8.19 | 8.39 | 8.44 | 8.217 | 8.385 | 14,060 | 21:15:01 |
Tractebel Energia SA (TBLE3.BR, TBLEY), the Brazilian unit of GDF Suez SA (GSZ.FR), said over the weekend that fourth-quarter net profit increased 9.6% as it sold more electricity and for higher prices on the spot market.
Tractebel's net profit rose to 373.3 million Brazilian reais ($223 million) in the fourth quarter from BRL340.6 million a year earlier, higher than the BRL365 million forecast by analysts polled by Dow Jones Newswires.
Figures were compiled using international financial reporting standards, or IFRS.
Revenue climbed to BRL1.1 billion from BRL914 million in the fourth quarter of 2009. Earnings before interest, taxes, depreciation and amortization, or Ebitda, grew to BRL696.2 million from BRL615 million.
Profit "directly benefited from strong prices on the spot market and gains in average energy volumes," Ativa Corretora analyst Ricardo Correa wrote in a note before the company's earnings were released. "We expect strong earnings, with positive impact on the stock."
Correa expected revenue of BRL1.04 billion and net profit of BRL367 million.
For the full year of 2010, the company reported a net profit of BRL1.21 billion, up from BRL1.09 billion posted in 2009.
Net debt for the fourth quarter was at BRL3.36 billion, up from BRL2.16 billion at the end of the third quarter.
-By Rogerio Jelmayer and Paulo Winterstein, Dow Jones Newswires; 5511-3544-7071; rogerio.jelmayer@dowjones.com
1 Year Engie Brasil Energia (PK) Chart |
1 Month Engie Brasil Energia (PK) Chart |
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