Brazilian power holding Eletrobras reports $2.1bn net income

Brazilian power holding Centrais Elétricas Brasileiras SA reported a net income of 10.7 billion reais
($2.1 billion) for 2019 thanks to increased revenues from electricity generation and completion of the sale of its distribution units.
This was lower than the previous year when Eletrobras' net was boosted by positive non-recurring events such as the reversion of the impairment at its nuclear power subsidiary,
Eletronuclear, in 2018.
Operational revenue rose to 27.7 billion reais in 2019 from 25.7 billion reais in 2018, with the start up of Mauá 3 power station by its unit in Amazonas state and the extension of generation concessions, Eletrobras said.
Earnings before interest, taxes, depreciation and amortization, a gauge of cash generation known as EBITDA, increased 5% over the previous year to 13.2 billion reais.