Ege haina 4q 2009

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Quarterly Quarterly Financial Report Financial Report December 31st, 2009

December 31st, 2009

EGE Haina Reports Fourth Quarter 2009 Net Income of US$4.8 million; Revenues of US$94.8 million

Special points of interest:

Santo Domingo, Dominican Republic, March 26th, 2010 – EGE Haina announced

• US$12.0 million of Local Bond were placed during 4Q’09, completing the US$ 30.0 million authorized by the SIV. • US$13.7 million offset contract entered into with Ede Sur and CDEEE in October 2009.

today a fourth quarter 2009 net income of US$4.8 million, compared to a net loss of US$2.6 million in the fourth quarter 2008, driven by an increase in energy sales price and higher demand. Fourth quarter 2009 revenues were US$94.8 million, showing a 2.2% increase when compared to the same period of the previous year.

• During the period, the Company sold US$20.8 million face value of sovereign bonds.

Financial and Operational Summary (US$ Thousands, except for Operational data)

• During 4Q’09 the Company made partial repurchases of the 144A Senior Notes in the amount of US$5.7 million, face value. • On February 26, 2010,

HIDRO and the Company agreed to offset US$13.1 million of the Company’s accounts payable to HIDRO against the same amount of accounts receivable from Edesur

Inside this Issue:

Description

4Q'09

4Q'08

Var %

YTD'09

YTD'08

Var %

Revenues

94,799

92,553

2%

307,198

460,567

-33%

Operating Costs

84,700

92,575

-9%

278,183

402,057

-31%

Variable M argin

31,193

25,971

20%

103,465

143,619

-28%

EBITDA¹

14,057

2,339

501%

44,555

73,814

-40%

Operating Income (loss)

10,099

(22)

-46706%

29,015

58,510

-50%

Net Income (loss)

4,814

(2,633)

-283%

14,402

38,573

-63%

Operating cash, net

1,039

10,561

-90%

(17,302)

6,136

-382%

• Quarter highlights

2

Availability, %

72

91

-21%

81

91

-11%

• External factors

2

Sales, GWh

507

496

2%

1,956

2,146

-9%

• MD&A

3

Generation, GWh

406

357

14%

1,465

1,445

1%

• Financial Debt

5

Spot Purchase, GWh

101

139

-28%

491

701

-30%

• 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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