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RIO – EDP Energias do Brasil recorded a net profit of $ 227.7 million in the second quarter, up 60.3% over the same period last year. In the same comparison, net business turnover rose 27.2% to Rs 3,453 billion, and Ebitda rose 11.8% to R $ 596.3 million (19659002 ) Net income, excluding construction revenues (indicator used in the electricity sector) totaled R $ 3,256 billion in the second quarter, up 25.9% over the same period last year. In the first half of the year
The net income for the first half of the year rose to R $ 441.8 million, an increase of 59.6% over the period from January to June 2017. In the same comparison, net income rose 24.7% to Rs. 6.090 billion and EBITDA increased 15.6% to R $ 1.241 billion.
According to the president of the company, Miguel Setas, the result was influenced by a number of factors, such as a capital gain in the purchase of the 19.62% stake in the company. Celesc's inescapable electric power, a $ 78 million profit from the Pecem I thermoelectric plant in Ceará, and control and cost reduction, among others.
"An event that marks this quarter is a gain of R $ 64 million in the acquisition of [participação] in Celesc, for the simple fact that we bought the shares of Celesc below this which is its book value, "said Setas, to Valor .
In December of last year EDP had announced the acquisition of 14.5% stake in Celesc, through shares that belonged to the pension fund of employees of Banco do Brasil (Previ) .The operation was completed in March this year.In April, the company acquired 2 million additional preferred shares at Santa Catarina, as part of a voluntary public auction.
In the case of Pecém I, Setas achieved a record performance with an average availability of 97 Expenditures [19659002]
Costs, nominal expenses with personnel, materials, services and a (PMSO) of the group fell by 1.4% in the first half of the year, before the same period of "In an inflationary world, having a recurrent reduction of PMSO to 1.4%, I think, is important."
The company also recorded an increase in the volume of energy supplied both in the distribution area In the case of the trader, the 15% increase in sales volume resulted in an increase of 4, 3% of EBITDA segment, for a total of 51 million reais in the second quarter.
Distribution 19659002] In the distribution area, the increase in the volume of energy supplied was 3.2%. "In the previous quarter, we had already seen an increase, which means that there is already an indication of some recovery in volumes.We now have signs of recovery", said Setas, recalling the effects of the country's economic crisis, mainly in the years 2015 and 2016.
With regard to the operation of the distributors, EDP recorded the 14th consecutive quarter of reduction of the EDP Espírito Santo loss index, totaling 11.51% at the end of the second quarter, an indicator still higher than the regulatory target set by the National Agency of Electric Power (Aneel), of 11.45%. In the case of EDP São Paulo, the loss rate was 8.63%, below the limit stipulated by the agency for the concessionaire, of 9.19%.
Hydrological Risk
Another point According to Setas, the hydrological risk management strategy was positive during the quarter. On the company's energy portfolio, 6% is diverted to the captive market and 15% without rush to avoid exposure to the GSF (Physical Warranty Adjustment Factor). The renegotiation resulted in a gain of 120 million reais for the company, while the misfortune guaranteed 91 million reais to society.
Auctions
Following recent acquisitions, EDP do Brasil intends to concentrate investments in its three concession areas (Santa Catarina, São Paulo and Espírito Santo) and implement the five projects of transport purchased at auction in the last two years and which will require contributions in the order of R $ 3 billion.
For this reason, the group is not interested in the privatization processes of the distributors of. Eletrobras and the sale of the control of Light by the public mining company Cemig.
"We are currently focusing on the three distributors in which we participate – investments are, according to our assessment, very attractive markets from the point of view of the business environment," said the president of EDP Energias do Brasil, M iguel Metas
"We focus on networking activities. The company's investment now takes a higher priority over the distribution and transmission networks. This does not mean that we are not paying attention to opportunities in the production sector, but we are focusing on the growth of transportation and distribution. "
For transmission projects, the company's objective is the construction of the hydroelectric power stations of Santo Antônio do Jari, Cachoeira Caldeirão and São Manoel, whose schedule was planned compared to the project initially planned.As for the line under construction in Espírito Santo, EDP has already completed 48% of the project in operation 17 months in advance.
"We will continue to watch the next auction [de transmissão] but we already have 3 billion R $ capex [investimentos] to do in the transmission. In five years [quando os empreendimentos estiverem em operação] the transfer will represent more than 20% of the EBITDA of our society. This is a very important and important activity, "says Metas.
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