Power utility AES Tietê reported net profit of 181.5
million reais in the fourth quarter of 2012, a 30.9 percent drop
compared to the same quarter of 2011, the company said on
Earnings before interest, taxes, depreciation and
amortization, a gauge of cash generation known as EBITDA, also
dropped 30.2 percent, to 292.1 million reais.
The company said the decline was due to a combination of a
readjusted price in its supply contract with AES Eletropaulo
, the lower volume of electricity sold and an increase
in operational costs.
AES Tietê, which is the generation unit of AES Brasil, the
Brazilian unit of U.S. energy giant AES Corp, said it
plans to invest 213.2 million reais this year.