Centrais Elétricas Matogrossenses S.A. - CEMAT announced earnings results for the full year of 2013. The company reported a net loss of BRL 382.7 million ($159.4 million or EUR 116.9 million) in 2013, versus a net loss of BRL 52.9 million registered in 2012. The company attributed the result to the 6.3% annual drop in its gross operating revenue due to the 15.1% average electricity tariff reduction.

Also, the company's electricity service costs grew by 5.2%, while operating and financial costs jumped by 20.2% and 34.1%, respectively, in 2013. Cemat's net debts rose 12.9% in annual terms to BRL 1.808 billion in 2013. The company distributed some 6,156 GWh of electricity in 2013, adding 9.5% year-on-year.