AES Tiete Posted Net Income of R$ 609.1 Million in 2007, Which Will be Fully
Distributed to Shareholders
SAO PAULO, Brazil, March 19 /PRNewswire-FirstCall/ -- AES Tiete S.A.
(Bovespa: GETI3 and GETI4; OTC: AESAY and AESYY) today announced its results
for the fiscal year of 2007.
Comments by Mr. Alexandre Innecco - Chief Financial and Investor Relations
Officer
The Company reached EBITDA of R$ 1,098.8 million and net income of R$
609.1 million in 2007. Results remained stable in relation to the previous
year reflecting the balance between the increase in net revenues, resulting
from the higher volume of energy sold through the spot market, and the rise in
the transmission charge.
In accordance with the Company's shareholder remuneration practices since
2006, AES Tiete has been distributing 100% of its net income as dividends or
interest on equity. Dividends amounting to R$ 443.7 million, corresponding to
the first nine months results, have been paid in advance in the year.
Management will propose to the General Shareholders' Meeting scheduled for
April 23, 2008 the distribution of the whole of the 4Q07 net income.
AES Tiete closed one more year of operations without accidents with lost
workdays and kept its operating indicators above the targets set by ANEEL.
Furthermore, the Company celebrated the UNO approval for its Clean Development
Methodology (CDM) for tree planting and reforestation. This worldwide
pioneering methodology will allow the Company to issue carbon credit
certificates. These achievements reinforce the Company's commitment to the
quality of its operations, the environment, its employees, the community and
its shareholders.
AES Tiete INVITES:
Conference Call / Webcast
PRESENTATION:
Britaldo Soares - Chief Executive Officer
Alexandre Cesar Innecco - CFO and Investor Relations Officer
DATE: Thursday, March 20, 2008
Simultaneous translation into English will be provided.
Time: 11:00 a.m. (BR) / 10:00 a.m. (EDT)
Connection numbers:
Brazil (55 11) 4688-6301
USA (1 800) 860-2442
Other countries: (1 412) 858-4600
CONFERENCE CODE: Tiete
Replay: (55 11) 4688-6312
Code: 252
Available: from 03.20.2008 to 03.26.2008
The presentation slides will be available for viewing and downloading on
the websites: www.eletropaulo.com.br/ri and www.aestiete.com.br/ri
The conference audio will be webcast on the same sites, where it will be
available after the event.
Save the date - April, 17th, 2008. Meet one of the AES Tiete Plants!
Further information will be provided soon.
CONTACT: LUCIANA SILVESTRE
PHONE: 55 11 2195 2282
FAX: 55 11 2195 2504
E-MAIL: luciana.silvestre@aes.com
SOURCE AES Tiete S.A.
Luciana Silvestre, AES Tiete, +55-11-2195-2282, FAX: +55-11- 2195-2504,
luciana.silvestre@aes.com
