Brazil's Desenvix cuts loss 58% in Q3 2013

Nov 13, 2013 - Brazil's renewable energy firm Desenvix Energias Renovaveis announced yesterday a net loss of some BRL 4 million (USD 1.7m/EUR 1.2m) for the third quarter of 2013, down 58.5% year-on-year.
In the period January to September, the company's loss deepened 61.6% to BRL 12.6 million.
The earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 14.2% to BRL 31.7 million in the quarter, and by 18.7% year-on-year to BRL 93.5 million in the nine months to September.
Net operating revenue totalled BRL 52.8 million between July and September, down 3.5% in annual terms. In the nine month period, revenue increased by 2.4% due to the gradual rise in the sales and the higher revenue from services.
Desenvix generated 370 GWh of electricity in the third quarter, up 64% in annual terms. Power production jumped by 96.1% between January and September.
Desenvix' current portfolio comprises hydro, small-scale hydro, biomass and wind power projects with combined capacity of 349 MW. In addition, the company has a 25.5% stake in two power lines under construction, which will have combined length of 511 km (317 miles). The company's projects under development total 2.96 GW.
(BRL 1.0 = USD 0.429/EUR 0.319)

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