BRASILIA/SAO PAULO, March 27 State-controlled
Eletrobras, Brazil's largest power utility holding
company, posted on Wednesday an unexpected net loss of 6.88
billion reais ($3.42 billion) for last year compared to a profit
of 3.73 billion in 2011.
The company, which is formally called Centrais Elétricas
Brasileiras SA, said in a securities filing that it had a net
loss of 10.5 billion reais in the fourth quarter of 2012,
compared to 557 million reais in profit in the same quarter of
Eletrobras was expected to earn 4.1 billion reais in profit
for the full year, according to consensus estimates by 19
analysts compiled by Thomson Reuters. Net income for the fourth
quarter was expected at 1 billion reais.