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Thursday, September 29, 2022

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    Taesa (TAEE11) profits R$564 million in 2Q22, down 19.2%, pressured by financial losses

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    Bare lines: Taesa suffered from increased financial expenses and saw profit fall in the second quarter (Image: Reproduction)

    THE Taesa (TAEE11) saw your net profit consolidated, calculated by IFRS rules, to fall 19.2% in the second trimester, compared to a year earlier, and total R$ 564 million. The main villain of the results was the 50.5% jump in net financial losseswhich totaled R$ 260.6 million.

    Net operating revenue dropped 6.3% to R$847.7 million. Despite the high inflation environment, the company managed to reduce costs and expenses by 13.5%, which totaled R$ 141.6 million.

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    As a result, the operating result before the net financial result was positive by R$ 699 million. The figure is 4.9% lower than the comparison. Financial expenses grew 70.5% to R$307.5 million. Debenture losses jumped 85.8% to R$283.7 million.

    Ebitda, a reference for estimating cash generation, decreased by 4.7% and totaled R$ 706.1 million. The Ebitda margin, however, improved by 1.4 percentage points and ended June at 83.3%.

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    The results of Taesa did not encourage Eleven, which recommends selling the shares of the electric company.

    According to analyst Alexandre Kogake, when looking at net income under IFRS (basis for the distribution of dividends) accumulated in 2022, there is a 10.4% annual drop, “which should be accentuated in the next quarter due to the expectation with the lowest inflation in the period.

    Taesa announces dividends

    Taesa approved the payment of R$506.7 million in dividends and interest on equitywith R$ 308 million in dividends and R$ 197 million in JCPs, according to a document sent to the market this Wednesday (10).

    According to the statement, the value per share in units will be R$ 1.47 for JCPs and dividends.

    See Taesa’s 2Q22 results report, released this Wednesday (10).

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    Source: Moneytimes

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