Ege haina 4q 2010

Page 1

Quarterly Quarterly Financial Report Financial Report December 31st, 2010

December 31st, 2010

EGE Haina Reports Fourth Quarter 2010 Net Income of US$12.8 million; Revenues of US$114.5 million Special points of interest:

Santo Domingo, Dominican Republic, March 15th, 2011 – EGE Haina announced

• EGE Haina reported a

Consolidated Net Debt to Consolidated EBITDA Ratio and a Consolidated Interest Coverage Ratio of 0.97:1.0 and 7.6:1.0, respectively, as of December 31st, 2010.

• In October 2010, the

company repaid the first tranche of the Local Bond issued (US$ 6 MM), remaining US$ 24 MM outstanding.

today fourth quarter 2010 net income of US$12.8 million, compared to a net income of US$4.8 million in the fourth quarter 2009, driven by an increase in energy sales price and higher demand. Fourth quarter 2010 revenues were US$114.5 million, showing a 21% increase when compared to the same period of the previous year.

• During November and

December 2010, the Company entered into two agreements with Banco Popular Dominicano for US$8 MM and US$5 MM at variable interest rates. The loans mature in November and December 2015, respectively.

• On March 8, 2011 the

Company issued its audited financial statements for 2010.

Inside this Issue:

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

Description

4Q'10

4Q'09

Var %

FY'10

FY'09

Var %

Revenues

114,546

94,799

21%

422,509

307,198

38%

Operating Costs

98,283

84,700

16%

359,921

278,183

29%

Variable M argin

38,290

31,193

23%

146,678

103,465

42%

EBITDA¹

20,324

14,057

45%

78,671

44,555

77%

Operating Income (loss)

16,263

10,099

61%

62,589

29,015

116%

Net Income (loss)

12,785

4,814

166%

41,973

14,402

191%

Operating cash, net

41,656

1,039

3908%

99,817

(17,302)

-677%

Availability, %

93

72

29%

90

81

11%

Sales, GWh

582

507

15%

2,178

1,956

11%

• Quarter highlights

2

Generation, GWh

363

406

-11%

1,625

1,465

11%

• External factors

2

Spot Purchases, GWh

219

101

117%

554

491

13%

• MD&A

3

• 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.

1


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.