Electric Power - Regional

Duke Q2 international Ebit slips 41.4% to US$68mn

Duke Q2 international Ebit slips 41.4% to US$68mn

By -

US power company Duke Energy (NYSE: DUK), which has generation assets in Central and South America, saw second quarter international Ebit drop 41.4% to US$68mn compared to 2Q08.

Results were impacted in part by unfavorable exchange rates, principally the weakening of the Brazilian currency against the US dollar late last year, CFO Lynn Good said in a webcast.

The decrease was partially offset by higher average contract prices in Brazil, Good added.

Brazil makes up the bulk of Duke's generation footprint in Latin America at 2.31GW, followed by Peru (638MW), Argentina (523MW), Guatemala (328MW), El Salvador (324MW) and Ecuador (136MW).

International operating revenue in 2Q09 fell 18.9% to US$271mn from the year-ago quarter and physical power sales dipped 13% to 4.28TWh.

Duke's total reportable segment Ebit in the period fell 24.2% to US$647mn.