Enel São Paulo reverses losses and profits R$69 mi in 1° quarter

São Paulo — Enel Energy Distribution distributor São Paulo (ex-Eletropaulo) reported a net profit of 69 million reais in the first quarter, reversing a loss of 5.4 million in the same period last year, according to company results disclosed on Wednesday night. Electric, controlled by the Italian Enel since the middle of last year, had a profit before interest, taxes, depreciation and amortization (Ebitda) of 399 million reais, up 18,4% compared to the previous year. The company, responsible for providing in the metropolitan region of São Paulo, with 7,240,000 consumer units, had net revenue of 3.46 billion reais, up front 8,3% the first quarter of 2018. Enel SP said that market 4,4% increase registered in the quarter, compared to a year earlier, with 5,3% expansion in the captive market, mainly due to higher temperatures, which increase the energy consumption. The company also highlighted that indicators that measure duration and frequency on service interruptions (DEC and FEC) "recorded significant improvement", with 18,2% and 17,3% reductions year on year, respectively. With that, the FEC was within the global regulatory levels defined by the national electricity Agency (Aneel) for 2019. Already the DEC "was impacted by the large volume of rainfall in the summer of 2018/19," said.