14/11/2016 - ENEVA reports record EBITDA and Free Cash Flow results

​ENEVA reported R$ 671 million of net income during the third quarter of 2016, an increase of 26% compared to the same period last year, at R$ 532 million reported. This increase was largely driven by the start-up of Parnaíba II commercial operations, and by a 71% increase in natural gas daily production capacity, to up to 8.4 million cubic meter per day (m³/day). 

ENEVA's third quarter results already considers the effects of the recent capital increase. The company has presented proforma consolidated figures, taking into account 100% share in Parnaíba Gás Natural and 50% share in Pecém II. 

Proforma quarterly EBITDA (Earnings before interest, taxes, depreciation and amortization) reached historical record at R$ 350 million, with a surge of 55% when compared to the equivalent period in 2015. EBITDA margins, at 55% were 10 p.p higher than the 3Q15. 

"This was a remarkable quarter for the company, from both a financial and operational perspective. We reached record EBITDA levels and now hold a fully operational portfolio. The Parnaíba Complex now operates at 1.4GW and our gas production capacity increased to 8.4 million m³/day. These achievements reinforce our capacity to deliver and our commitment to the security of the country's energy matrix", affirms ENEVA's CEO, José Drummond. 

ENEVA also concluded, on October 3rd, a capital increase and an agreement with the shareholders of Parnaíba Gás Natural. This transaction resulted in an integrated energy company, positioning ENEVA as the third largest power generator, and second largest natural gas producer in Brazil.​ 

"Exploring and delivering every day. We believe that our combined experience in power generation and oil and gas exploration and production, will allow us to pursue new growth opportunities, developing and operating businesses in the energy sector, creating value for shareholders, employees and society", concludes Drummond.



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Elisa Soares
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