AES Tiete Recorded Net Income of R$ 134.1 Million in 2Q08, Which Will Be Fully
Distributed as Dividends
SAO PAULO, Brazil, Aug. 13 /PRNewswire-FirstCall/ -- AES Tiete S.A.
(Bovespa: GETI3 and GETI4; OTC: AESAY and AESYY) today announced its results
for the 2nd quarter, 2008.
Comments by Mr. Alexandre Innecco - Finance and Investor Relations Officer
AES Tiete registered an EBITDA of R$ 288.9 million, 24.2% higher than in the
second quarter of 2007, while the net income of R$ 134.1 million represents a
5.6% reduction in comparison to the same period of last year.
The increase in the IGP-M, index used to adjust the Company's financial
debt, negatively impacted the net financial result and, consequently, its net
income. As of July, the same index has been applied annually, to set new
prices for the sale of electric energy as established in bilateral contracts
with Eletropaulo. Therefore, as of the third quarter, the negative impact of
the IGP-M over financial expenses will be neutralized by the results of higher
electric energy prices on AES Tiete's revenues.
The distribution of 100% of the quarterly earnings (R$ 134.1 million) as
dividends was approved by the Board of Directors on August 13, 2008,
reinforcing the dividend policy in effect since 2006.
AES Tiete INVITES:
Conference Call / Webcast
PRESENTATION:
Britaldo Soares - Chief Executive Officer
Alexandre Cesar Innecco - Finance and Investor Relations Officer
DATE: Friday, August 15, 2008
Simultaneous interpretation into English will be provided.
Time: 1:30 p.m. (BR) / 12:30 p.m. (EDT)
Connection number:
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: 810
Available: from 08.15.2008 to 08.21.2008
The presentation slides will be available for viewing and downloading on
the website: www.aestiete.com.br/ri
The conference audio will be webcast on the same sites, where it will be
available after the event.
Meeting with Analysts (Apimec)
Rio de Janeiro
Date: Monday, August 18, 2008
Time: 8:30 a.m. (Brasilia time) - Breakfast
Venue: Hotel Sofitel - Sala RJ II. Avenida Atlantica, 4240 -
Copacabana-Rio de Janeiro
RSVP: (55 21) 2509-9596
Sao Paulo
Date: Monday, August 18, 2008
Time: 4:30h (Brasilia time) - Cocktail
Venue: Hotel Unique - Sala Sumatra/ Bora Bora. Avenida Brigadeiro Luis
Antonio, 4700
RSVP: apimecsp@apimecsp.com.br
Phone: (55 11) 3107-1571
Minas Gerais
Date: Tuesday, August 19, 2008
Time: 12:00 p.m. (Brasilia time) - Lunch
Local: Hotel Mercure - Sala Kepler. Avenida do Contorno, 7315 - Lourdes -
Belo Horizonte
RSVP: secretaria@apimecmg.com.br
Phone: (55 31) 3213-0693
Presentations will be made exclusively in Portuguese.
SOURCE AES Tiete S.A.
Luciana Silvestre of AES Tiete S.A., +55 11 2195 2282, FAX: +55 11 2195 2503,
luciana.silvestre@aes.com
