Engie Brasil Energia achieved an adjusted net profit of 793 million reais in the first quarter, down 10.1% compared to the performance recorded in the same period of 2023.
The data takes into account the adjustments for the sale of the company’s stake in the gas transport company TAG.
The energy producer and transmitter also reported an adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) of 1.81 billion reais in the quarter, 12.1% lower than the annual comparison, citing in addition to the TAG transaction , the sale of the Pampa Sul thermoelectric plant.
Engie instead stated that these negative effects on Ebitda were mitigated by a reduction in the volume of energy purchases for the portfolio.
The company also highlighted that the average price of its energy sales contracts, net of taxes on revenues and commercial operations, was 222.34 reais per megawatt hour (MWh) in the quarter, a value lower than 3, 1% on an annual basis.
The quantity of energy sold, without considering trading operations, was 8,649 GWh (3,960 MW on average), 8.8% lower than that sold in the first quarter of 2023.
The company also highlighted progress in generation projects, such as the Assú Sol solar panel, in Rio Grande do Norte, which is starting to be deployed and will have an estimated commercial capacity of 229 MW on average.
Source: Terra
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