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Companies / Entities
- Caiuá Distribuição de Energia S.A.
- Companhia de Energia Elétrica do Estado do Tocantins
- Companhia Energética do Rio Grande do Norte
- Companhia de Eletricidade do Estado do Bahia
- Centrais Elétricas Mato-Grossenses S.A.
- IBERDROLA S.A.
- Endesa S.A.
- Grupo Neoenergia S.A
- Companhia Energética do Ceará S.A.
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MeneameThe following Brazilian power companies have released first quarter results:
COELCE
Ceará state distributor Coelce posted net profits of 26.5mn reais (US$10.7mn) in the first three months of 2005, up from 12.4mn reais in the same period a year earlier, the company said in a statement.
Gross revenue increased to 477mn reais in 1Q05 from 442mn reais in 1Q04, while operating profits doubled to 41.2mn reais from 20.2mn reais in 1Q04.
Endesa Spain controls Coelce.
NEOENERGIA
Power sector holding Neoenergia, owned by Spain's Iberdrola, posted net profits of 251mn reais in the first three months of 2005, up from 29.7mn reais in the same period a year earlier.
Neoenegia owns Rio Grande do Norte state distributor Cosern, Bahia state's Coelba and Pernambuco state's Celpe as well as power generation and trading companies.
COELBA
Coelba posted net profits of 244mn reais in the first quarter of 2005, up from net profits of 59mn reais in the first quarter of 2004. Gross revenues rose to 1.02bn reais from 685mn reais, while operating profits rose to 366mn reais from 79.5mn reais a year earlier.
COSERN
Cosern posted net profits of 26.9mn reais in the first quarter of 2005, up from 12.4mn reais in 1Q04. Gross revenues rose to 198mn reais from 164mn reais, while operating profits rose to 41.8mn reais from 19.6mn reais a year earlier.
CELPE
Celpe posted net profits of 43.9mn reais in the first quarter of 2005 compared to a loss of 8.3mn reais in the first quarter of 2004. Gross revenues rose to 545mn reais from 454mn reais, while operating profits rose to 64mn reais from 13mn reais a year earlier.
GRUPO REDE
Caiuá Serviços de Eletricidade, the controlling company of Brazilian power group Grupo Rede, posted a net loss of 20.7mn reais in the first quarter of 2005, which compares with a loss of 53mn reais in the same period a year earlier.
Gross revenues rose to 58mn reais from 52mn reais in the quarter-to-quarter comparison. Operating losses in 1Q05 were 22.2mn reais, half of the 53mn-real losses in 1Q04.
Grupo Rede, through Caiuá, controls seven distribution and generation assets. The largest distribution assets that reported their results for the first quarter of 2005 were Celpa, which operates in the northern state of Pará, and Cemat, which operates in the center west state of Mato Grosso.
CELPA
Celpa posted net profits of 12.2mn reais in the first quarter of 2005, up from 3.5mn reais in 1Q04. Gross revenues rose to 364mn reais from 335mn reais, while operating profits rose to 14.7mn reais from 11.7mn reais a year earlier.
CEMAT
Cemat posted 1Q05 net profits of 21mn reais, turning round 15mn-real losses in 1Q04. Gross revenues rose to 480mn reais from 321mn reais, while operating profits were 28.2mn reais, up from 15.6mn-real losses a year earlier.
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