São Paulo – Eletrobras reported a net profit of BRL 13.35 billion (USD 3.4 billion) in 2018. In 2017, the state-owned energy company had a net loss of BRL 1.73 billion (USD 442 million). Last year’s profit was the highest of the company in the last 20 years according to information released by the company this Thursday (28).
According to Eletrobras, the highlights included the impairment reversal (devaluation of assets) and the sales of its distributors Cepisa, Ceron, Boa Vista Energia, and Eletroacre (BRL 2.97 billion [USD 758 million]).
In the last quarter of the year, Eletrobras posted a net profit of BRL 12.08 billion (USD 3.08 billion), while in the same period of the previous year the company had posted a net loss of BRL 4 billion (USD 1 billion).
Translated by Guilherme Miranda
