Companhia de Gás de São Paulo - COMGÁS Announces Earnings and Operating Results for the Third Quarter and Nine Months Ended September 2014; Provides Earnings Guidance for Fiscal Year 2014
For the nine months, the company reported net revenue of BRL 4,777,520,000 against BRL 4,735,927,000 a year ago. Operating income was BRL 853,642,000 against BRL 817,950,000 a year ago. Earnings before income tax and social contribution were BRL 701,768,000 against BRL 675,789,000 a year ago. Net income for the period was BRL 462,409,000 against BRL 445,319,000 a year ago. Net earnings per common share were BRL 3.71 against BRL 3.64 a year ago. Net earnings per preferred share were BRL 4.09 against BRL 4.00 a year ago. Net cash generated from operations was BRL 1,007,531,000 against BRL 666,139,000 a year ago. Additions to intangible assets were BRL 491,748,000 against BRL 642,841,000 a year ago. The company's net debt was down 13.9% year-over-year, basically due to the higher cash balance in September 2014. EBITDA was BRL 1,138,912,000 against BRL 1,062,961,000 a year ago.
For the quarter, the company reported total volume of 1,150.250 million m3 per day against 1,222.369 million m3 per day a year ago.
For the nine months, the company reported total volume of 3,403.938 million m3 per day against 3,557.146 million m3 per day a year ago.
The company provided earnings guidance for fiscal year 2014. For the period, the company expects total volume to be 5,200,000 m³ to 5,700,000 m³. EBITDA IFRS is to be BRL 1,300 million to BRL 1,550 million. CAPEX is to be BRL 680 million to BRL 780 million.