Neoenergia has a 36% higher profit in the 3rd quarter; amount is R $ 814 million – Money Times

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According to Neoenergia, consumption began in the third quarter of this year its recovery path in all classes and in the four distributors managed by the company (Image: YouTube / Neoenergia)

A Neoenergy (NEOE3) ended the third quarter of 2020 with net income of R $ 814 million. According to the report released by the company on Tuesday (20), the result represents an increase of 36% compared to the same interval last year.

Net operating revenue grew 12%, from R $ 6.9 billion in the third quarter of 2019 to R $ 7.7 billion between July and September this year.

Ebitda, which corresponds to earnings before interest, taxes, depreciation and amortization, advanced 17% on the same basis of comparison and totaled R $ 1.7 billion.

The volume of injected energy reached 16.3 thousand GWh, an increase of 1.3%. Distributed energy (considering the captive and free markets) reached 13.9 thousand GWh, in line with the performance of the third quarter of last year.

According to Neoenergia, consumption began its recovery path in the third quarter in the four distributors managed by it and in all classes, with emphasis on the residential segment.

“Residential consumption, with a higher margin, showed growth in all distributors, consolidating an increase of 7.6% in the third quarter of 2020 and 4.5% in the first nine months of the year in relation to the same periods of 2019”, he highlighted the company.

The increase in consumption was driven by the larger customer base, which reached the mark of 14.2 million active consumers. The residential segment also grew due to the social isolation measures imposed by state governments to contain the spread of the coronavirus.

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