Equatorial Energia had a net profit of R $ 1.312 billion in the fourth quarter of 2019, more than tripling the result obtained a year earlier, according to data available at the Securities and Exchange Commission (CVM) on Saturday.

The operational performance measured by Ebitda (earnings before interest, taxes, depreciation and amortization) increased by almost 100%, to 2.367 billion reais, impacted by the IFRIC 15 accounting practice applicable to the new transmission and growth assets of Equatorial Piauí and Ebitda Equatorial Alagoas.

In adjusted terms, excluding non-recurring effects, net income totaled 715 million reais, from 290 million reais in the same period of 2018, influenced by the recognition of results from transmission projects. The adjusted Ebitda almost doubled, to 1.244 billion reais.

Equatorial’s net operating revenue totaled 6.185 billion reais in the fourth quarter of last year, up more than 60% year on year.

Equatorial’s consolidated net debt totaled R $ 10.6 billion in the last three months of 2019, implying a net debt / Ebitda ratio of 2.8 times, of 3.3 times at the end of 2018.

Adjusted for Equatorial’s holdings in its subsidiaries, net debt totaled R $ 9.9 billion on December 31, equivalent to a net debt / proportional EBITDA of 2.6 times.

The company will comment on the result in a conference call on Monday, at 11 am (Brasília time).

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