Quarterly Quarterly Financial Report Financial Report June 30th, 2010
June 30th, 2010
EGE Haina Reports Second Quarter 2010 Net Income of US$6.9 million; Revenues of US$94.9 million Special points of interest:
Santo Domingo, Dominican Republic, August 17th, 2010 – EGE Haina announced
EGE Haina reported a
Consolidated Net Debt to Consolidated EBITDA Ratio and a Consolidated Interest Coverage Ratio of 1.1:1.0 and 5.6:1.0, respectively, as of June 30th, 2010.
In June 2010, the company collected US$12.2 MM corresponding to the principal and interests of the 2010 Sovereign bonds (first tranche). The company still holds US$10.5 million 2011 Sovereign Bond as an investment.
today a second quarter 2010 net income of US$6.9 million, compared to a net income of US$4.8 million in the second quarter 2009, driven by an increase in energy sales price and higher demand. Second quarter 2010 revenues were US$94.9 million, showing a 38% increase when compared to the same period of the previous year.
Financial and Operational Summary
In June 2010, the company made a US$10.0 MM dividend payment to its shareholders.
Inside this Issue: Quarter highlights
2
External factors
2
MD&A
3
Financial Debt
5
Collections
6
Financial results
7
1
(US$ Thousands, except for Operational data)
Description
2Q'10
2Q'09
Var %
YTD'10
YTD'09
Var %
Revenues
94,928
68,621
38%
189,029
123,978
52%
Operating Costs
81,121
63,298
28%
159,708
115,680
38%
Variable M argin
34,850
23,991
45%
70,616
42,880
65%
EBITDA¹
17,853
9,183
94%
37,344
16,025
133%
Operating Income (loss)
13,807
5,323
159%
29,321
8,298
253%
Net Income (loss)
6,953
4,774
46%
17,378
1,470
1083%
Operating cash, net
12,653
(6,845)
-285%
79,439
(8,188)
-1070%
Availability, %
88
85
3%
85
92
-8%
Sales, GWh
505
478
6%
988
936
6%
Generation, GWh
375
330
14%
804
675
19%
Spot Purchases, GWh
131
148
-12%
183
260
-29%
EBITDA is a non-GAAP financial measure, which is calculated by adding depreciation and amortization expenses to the Operating income.
1