Ir al contenido principal

Aguas Andinas' results were affected by water stoppages in January and February

Imagen
De
Aguas AndinasAguas Andinas' earnings for the first quarter of 2013 reached Ch$38,205 million, 8.6% lower than the same period of the previous year, based on the information presented by the company to the Chilean Securities and Insurance Supervisor (Superintendencia de Valores y Seguros - SVS.  

Acording to the analysis of the three months period ended on march, 31st, Aguas Andinas'  operating revenues amounted to CLP $108,284 million, CLP $426 million (0.4%) lower than in the previous period, due mainly to a lower sales volumes (2.9 million m3) of potable water as a result of the water stoppages in January and February 2013 caused by mudslides that fed into the Maipo river, forcing the company to stop water production. Additionally, average water consumption per customer during 1Q13 was lower compared 1Q12, as a result as a result of milder summer weather during the first months of 2013.

Consolidated EBITDA for the period amounted to CLP $70,354 million, CLP $3,186 million (4.3%) lower compared to same period of last year. This decrease is mainly explained by lower revenues and increased costs of 7.8% related to provisions made for customer compensation as a result of water stoppages during the months of January and February 2013.

Due to the problems related to the water stoppages, the company reached an agreement with Sernac (the Chilean consumer protection agency), in which the Company, beginning in May 2013, will compensate customers that were affected. The total number of clients who will receive compensation is 821,860. This group represents those customers whose service was interrupted before and/or after the programmed hour and those customers whose service was returned before and/or after the programmed hour. The total compensation for customers is CLP $2,580,503,928, which is reflected in the Company’s financial statements for the first quarter of 2013.

Assets


Total consolidated assets as of March 31, 2013 were CLP $1,576,001 million, an increase of 1.9% compared to December 31, 2012 when total assets were CLP $1,546,225 million.


Aguas AndinasCurrent assets were CLP $153,463 million as of March 31, 2013, an increase of CLP $32,181 million

compared to December 31, 2012. This increase was mainly due to an increase in cash and cash equivalents, as a result of increased collections and increased trade accounts and other accounts receivables due to the higher number of customers.

As of March 31, 2013, non-current assets decreased CLP $2,404 million compared to December 31, 2012. The Mapocho sewage treatment plant came online, resulting in increased depreciation, which was offset by increases in property, plant and equipment.

Cash Flow


The net cash flow from operating activities increased 3.9% in the first quarter of 2013 compared to the same period of the previous year. This increase is due mainly to increased collection of trade account receivables. The increase in receivables was offset by interest paid on Series R and S bonds and capitalized interest. Additionally, other operating payments were lower in the first quarter of 2013 because of lower value-added tax.

Investment activities as of March 31, 2013 produced a negative net cash flow of CLP $32,588 million, compared to the negative net cash flow of CLP $32,504 million in the first quarter of 2012, mainly related to the increase of property, plant and equipment for CLP $2,702 million, mainly the Mapocho sewage treatment plant, which was partially offset by lower capitalization of interest of CLP $2,865 million.

The negative net cash flow from financing activities was CLP $4,422 million as of March 31, 2013, generating a difference of CLP $(29,034) million compared to the same period of the previous year. This negative variation was due in part to the Series Q Bond issuance in the first quarter of 2012 (there was no bond issuance during the first quarter of 2013) and to higher repayment of bank debt in the first quarter of 2012 compared to the level of debt repayment in the first quarter of 2013.

Etiquetas

Etiquetas:

Comentarios

Publicar un comentario

Entradas populares de este blog

Enersis' net income decreased 16 percent during 2013 first quarter

De
Enersis Group net income reached CLP $84,159 millions in the first quarter of 2013 ,  decreasing 16.4% from the CLP $100.661 millions registered in the same period of the last year, based on the information presented by the company to the Chilean Securities and Insurance Supervisor (Superintendencia de Valores y Seguros - SVS). The Enersis Group diversified business assets portfolio as well as a presence in five countries in the region (Argentina, Brazil, Chile, Colombia, and Peru), allowed  Enersis to mitigate the higher taxation in Chile and Colombia, which explains the $16,502 million lower net income posted at the end of the first quarter of this year.  Analyzing other results, the physical sales in the distribution business grew by 371 GWh, posting a 2.0% increase, while the generation segment showed a decrease of 443 GWh, equivalent to a 2.7% drop. Revenues amounted to $1,456,669 million, 10.4% lower compared with the first quarter of the las...
Publicar un comentario
Leer más

Colbun informed it's results for the first quarter of 2013

De
Acording to he information presented to the Chilean Securities and Insurance Supervisor (SVS), Colbún reached a profit of USD $ 24.4 millions in the period ended on march, 31, 2013.  This results is an increase from the USD $ 9.2 obtained in the same three months of the previous year. In the quarter recently ended, Colbun's EBIDTA obtained a result of USD $ 89.2 millions, more than 3 times higher than the USD $ 27.4 from march, 2012.  This numbers are the results of a more balanced trade position and an improved cost structure. Hidraulic generation of the period reached 1,052 GWh, decreasing 26.6% from the 1Q12. This decrease is mainly due to lower dispatch of Central Colbún during the period, due to the schedule of the CDEC.  Despite this, total generation of the period reached 3.055 GWh. Physical sales to customers under contract during 1Q13 totaled 2,569 GWh , 10.7 % lower than physical sales under contract in the same period of the la...
Publicar un comentario
Leer más

IMF: Good projections for the chilean economy

De
4.9 percent will grow the chilean economy in 2012, acording to the World Economic Outlook report, published by the International Monetary Fund (IMF) analyzing global and regional situations.  In the same report, the organism projects a 4.6 percent in 2014 in the same indicator for our country, giving a positive perspective in the evolution of this macroeconomic indicator for the next two years.   Considering the numbers for all the region, the document says that Real GDP growth in the Latin America and Caribbean region declined to 3 percent in 2012, from 4.5 percent in 2011, reflecting a slowdown in external demand and, in some cases, the impact of domestic factors. The deceleration was particularly pronounced in Brazil, the region’s largest economy, where large policy stimulus failed to spur private investment.  However, real GDP growth in the zone is projected to increase to 3.4 percent in 2013. In the case of Chile, IMF expects a results of 2.1 percent in the C...
Publicar un comentario
Leer más