EDP Brazil profits R$524 mi on 4° tri and has better year with sale of Shps

SAO PAULO (Reuters)-the EDP Group Brazil electric Portuguese EDP Energias de Portugal, recorded net profit of 524 million reais in the fourth quarter of 2018, up 161,3% compared to the previous year, helped by the entry of resources after the sale of small hydropower plants to the Norwegian Statkraft. non-recurring effects from the disposal of assets still helped the Brazil to register in 2018 the cumulative your best finish in 23 years of operation in the country, with a net profit of 1.3 billion reais, up 108% front 2017.Com business in generation, distribution, transmission and marketing of energy, EDP Brazil had earnings before interest, taxes, depreciation and amortization (Ebitda) of 847.3 million reais in the fourth quarter, above the 50,8% seen in the same period to 2017. In the year, Ebitda totaled 2.7 billion reais, 26,6% advance. Net revenues in the quarter was 2.97 billion reais, indentation of 16,1% compared to the previous year. As early as 2018 cumulative were 12.86 billion, up 9,6% front of 2017. The President of EDP Brazil, Miguel Arrows, said the sale of SHPS, completed in December, contributed about of 340 million reais for the results of the quarter and the year. The transaction was announced in October and involved a total of 704 million dollars, including debt. "It's the largest company profit in your story. Doubled the result compared to the last year. This quarter ended a very positive year in terms of results, "said Arrows. EDP Brazil should also double investments in 2019, the Executive, to about 2.9 billion reais, against 1.4 billion in 2018. The increase is associated with the the company's entry in the broadcast sector, in which scooped the first concession in 2016. Intakes in transmission should add 2 billion in 2019, compared with 600 million reais in distribution. EDP Brazil still intends to invest about 100 million dollars in solar generation projects of small businesses, known as "distributed generation" said Arrows. ACQUISITIONS the entry into Brazil's energy transmission must select a "new cycle" of investments to EDP, which has evaluated to acquisitions in the sector, after put into operation recently three large hydroelectric projects that occupied the efforts of company in recent years. " We finish this cycle, and it coincides for us in a positive way with the beginning of another cycle, which is the growth cycle in the transmission, "said Arrows. This movement, he said, can go through purchases of transmission projects already tendered by the Government." We look in particular at the market of the transmission, to the secondary market of projects, projects that are tendered and are under construction or licensing and can be an additional source of business opportunities, "he said. EDP Brazil estimates that the transmission will represent about of 22% of the company's Ebitda in 2022, leaving the zero in 2017. The diversification of business, according to Arrows, is one of EDP's strategies to reduce risks and ensure greater stability and predictability in the results.