Eletrobras: net income totals BRL 964.5 million in the 3rd quarter, an annual drop of 65.72%

Eletrobras had net income of R$964.561 million in the third quarter of this year, a drop of 65.72% compared to the same period last year. Recurring net income was R$3.7 billion, up 3.754%.

According to the company, the result was mainly due to the accounting of contracts renewed by Law 12,783/2021, as a result of the reprofiling of the financial component of BRL 4.8 billion of the Existing Basic Network System (RBSE), and the accounting of BRL 4.2 billion related to the renegotiation of the hydrological risk (GSF), in addition to the reversal of impairments of R$ 454 million.

On the other hand, these positive effects were impacted by R$9.4 billion in provisions for contingencies, of which R$9 billion referred to an increase in compulsory loans.

Between July and September, earnings before interest, taxes, depreciation and amortization (Ebitda, the acronym in English) totaled BRL 5.6 billion, up 186.15%.

Sales revenue reached R$9.956 billion in the period, 50.25% higher than the same period in the 2020 quarter.

In the period, energy purchased for sale reversed the negative amount of R$563.925 million from a year earlier and totaled R$2.360 billion. The state-owned electric company disbursed R$ 627.476 million in the third quarter of the year, an increase of 18.80% on the same basis of comparison.

Investments made by Eletrobras, on the other hand, rose 46.84% and totaled R$ 1 billion, R$ 570 million of which in the generation segment, R$ 375 million for the Angra 3 projects and R$ 139 million for maintenance. For the transmission area, R$ 378 million were used, of which R$ 300 million was earmarked for reinforcements and improvements.