Ege haina 3q 2010

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Quarterly Quarterly Financial Report Financial Report September 30th, 2010

September 30th, 2010

EGE Haina Reports Third Quarter 2010 Net Income of US$11.8 million; Revenues of US$118.9 million Special points of interest:

Santo Domingo, Dominican Republic, November 4th, 2010 – EGE Haina

 EGE Haina reported a

Consolidated Net Debt to Consolidated EBITDA Ratio and a Consolidated Interest Coverage Ratio of 1.2:1.0 and 6.5:1.0, respectively, as of September 30th, 2010.

 On July 17, 2010, the

Company re-implemented the PPA with EDE Este for 50MW. The additional 50MW (to complete the original 100MW) will remain suspended for a 24-month period.

announced today third quarter 2010 net income of US$11.8 million, compared to a net income of US$8.1 million in the third quarter 2009, driven by an increase in energy sales price and higher demand. Third quarter 2010 revenues were US$118.9 million, showing a 35% increase when compared to the same period of the previous year.

Financial and Operational Summary

 In September, 2010 the

Company entered into a letter of credit by € 15 million with Citibank in favor of Cobra with an annual interest rate of 0.75%. The LC expires in May, 2011 and is collateralized with a certificate of deposit accruing interests at 0.40% annual interest rate.

(US$ Thousands, except for Operational data)

Description

3Q'10

3Q'09

Var %

YTD'10

YTD'09

Var %

Revenues

118,935

88,421

35%

307,963

212,399

45%

Operating Costs

101,931

77,803

31%

261,638

193,483

35%

Variable Margin

37,772

29,392

29%

108,388

72,272

50%

EBITDA¹

21,004

14,474

45%

58,347

30,499

91%

Operating Income (loss)

17,004

10,618

60%

46,325

18,916

145%

Net Income (loss)

11,810

8,119

45%

29,188

9,589

204%

(20,706)

(10,154)

104%

58,733

(18,341)

-420%

Availability, %

92

86

7%

82

90

-9%

Operating cash, net

Inside this Issue:  Quarter highlights

2

Sales, GWh

609

514

19%

1,597

1,449

10%

 External factors

2

Generation, GWh

458

384

19%

1,262

1,059

19%

 MD&A

3

Spot Purchases, GWh

151

130

17%

335

390

-14%

 Financial Debt

5

 Collections

6

 Financial Results

7

1

EBITDA is a non-GAAP financial measure, which is calculated by adding depreciation and amortization expenses to the Operating income.

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