Business · Companies · 1 hr ago

Energisa's third-quarter profit rises 47% to R$951 million

Energisa's third-quarter profit rises 47% to R$951 million

Energisa reported R$951 million in net profit for the third quarter, a 47% rise from the same period a year earlier.

The Brazilian group runs electricity distribution and transmission businesses, with distribution providing most of its revenue.

Recurring adjusted profit rose 85% to R$792 million, excluding results from five transmission assets sold to Taesa and other exceptional items.

Adjusted recurring EBITDA, a measure of operating earnings, increased 20% to R$2.40 billion on a comparable basis.

Stronger earnings and an asset sale helped lower debt leverage to 2.95 times adjusted EBITDA, from 3.15 times a year earlier.

Energisa completed the sale of the transmission assets for R$2.3 billion, including debt, in August, and also reshaped its debts; the company did not announce a next step in the information provided.

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