SAO PAULO, May 14 /CHICAGOPRESSRELEASE.COM/ — Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. (BM&FBovespa: ELPL3, ELPL5 and ELPL6), announced today its results for 1Q10.
Comments by Mr. Rinaldo Pecchio – CEO and Investor Relations Officer
Captive customers’ consumption rose by 5.2% in 1Q10 compared to the consumption in the first quarter of 2009, and came to 8,544 GWh in AES Eletropaulo’s concession area. This rise mainly resulted from the recovery in the industrial class and the positive performance in the residential and commercial classes. The total market consumption showed a 6.7% increase to 10,344 GWh, due to the rebound in the free market consumption.
In addition to favorable consumption, the Company’s results also reflect the positive effects of the Annual Tariff Adjustment of +14.88% (since July 4, 2009).
In line with our shareholder remuneration practices, the General Shareholders’ Meeting (GSM) held on April 30, 2010 approved the Executive Board’s proposal to distribute R$ 757.1 million as dividends and interest on equity. Added to the R$ 322.7 million interim dividends paid in advance, shareholder remuneration will amount to R$ 1,079.8 million, or 100% of the net income available for distribution.
The Company carried out the 12th issue of debentures in April 2010 and the 13th issue of debentures in May 2010, both totaling R$ 800 million. The proceeds will be earmarked for payment of the Real denominated Bond maturing in June 2010 and to fund part of the investments planned for 2010. With these issuances, the average maturity of the Company’s debt has moved up to 7.4 years and the average cost is CDI + 1.02%, which shows a continuing improvement in its debt profile.
Conference Call / Webcast
Britaldo Soares – Chief Executive Officer
Rinaldo Pecchio – CFO and Investor Relations Officer
DATE: Monday, May 17, 2010
TIME: 11:30 a.m. (BR) / 10:30 a.m. (EDT)
- Brazil: (+55 11) 4688-6361
- USA: (1-888) 700-0802
- Other countries: (1 786) 924-6977
SIMULTANEOUS INTERPRETATION INTO ENGLISH WILL BE PROVIDED.
CONFERENCE CODE: AES Eletropaulo
REPLAY: (+55 11) 4688-6312
AVAILABLE FROM: 05.17.2010 to 05.23.2010
Slide presentation will be available for viewing and downloading on the website www.eletropaulo.com.br/ir
Conference Call will be broadcasted live over the Internet on the same website, remaining available after the event.
SOURCE AES Eletropaulo