TAEE11 earnings of R$146.6 million in the first quarter of 2022, an increase of 35.6% year-on-year.

Taissa (Tai 11) recorded net regulatory income of R$ 146.6 million in the first quarter of 2022 (Q1 22), a growth of 35.6% compared to the same quarter of 2021.

Regulatory earnings before interest, tax, depreciation, and amortization (Ebitda) grew 43.5% in the first quarter of 22, totaling R$454.4 million.

The inflationary adjustment for the RAP 2021-2022 cycle (37.04% in the IGP-M and 8.06% in the IPCA) and the Janaúba start-up in September 2021 explain the positive EBITDA performance and the increase in EBITDA margin in the comparative year,” the company says.

Ebitda’s regulatory margin (Ebitda on net revenue) was 86.4% in the first three months of the year, an increase of 4.4 percentage points over the margin reported in the first quarter of ’21.

Regulatory net revenue amounted to R$526.1 million between January and March of this year, an increase of 36.2% compared to the same period in 2021.

The net financial result came in negative by R$ 228.2 million in the first quarter of 2022, an increase of 24.6% compared to the same period in 2021.

The variance of 70.2% in the incurred interest item is mainly due to the increase in principal due to the tenth and eleventh issues of debt securities in the amount of 750 and 800 million Brazilian reais, implemented in May 2021 and February 2022, respectively, and inflation correction, as well as an increase in CDI .

Total costs, expenses, depreciation and amortization amounted to R$143.1 million in the first quarter of 22, an increase of 7.8% compared to the first quarter of 21. Total PMSO costs amounted to R$71.7 million, registering a year-over-year increase of 2.8%.

The company’s net debt amounted to R$6.136 billion at the end of March 2022, down 1.4% compared to the same period in 2021.

Looking for a good buying opportunity? XP استراتيجي strategist reveals 6 cheap stocks to buy today.

Related