Esporte Engie Brasil grows net profit by 3.3% in Q1 2021

Esporte Engie Brasil grows net profit by 3.3% in Q1 2021

Esporte

May 10 (Renewables Now) – Brazilian power utility Engie Brasil Energia SA (BVMF:EGIE3) saw its first-quarter (Q1) net profit go up by 3.3% on the year to BRL 529 million (USD 101m/EUR 83m).

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 30.5% to about BRL 1.74 billion, with an EBITDA margin of 53.5%, representing a growth of 2.2 percentage points compared with Q1 2020.

Net operating revenue climbed by 25.3% to BRL 3.25 billion.

The power plants operated by the local energy unit of France’s Engie SA (EPA:ENGI) have generated 9,938 GWh of electricity during the first quarter, up 26% year-on-year, as the output of all sources intensified.

Complementary energy sources, the segment under which Engie reports results for small hydropower, wind, solar and biomass plants, accounted for 891 GWh, or an increase in production of 52.8%.

At the end of March, Engie Brasil had 8,790.3 MW of own capacity and operated a generating complex of 10,511 MW across 63 power plants. It owns 59 of them, while the remaining four are held in consortia with other companies.

(BRL 1.0 = USD 0.191/EUR 0.157)

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