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Reuters Staff -Eletrobras on track to cut indebtedness, says CEO





By Reuters Staff

Petroleumworld 10 19 2017

Brazilian state-run power company Centrais Elétricas Brasileiras SA is relying on the successful completion of an asset sale program to reduce its indebtedness, Chief Executive Officer Wilson Ferreira Junior said on Wednesday.

Eletrobras expects EBITDA, a gauge of operational profit, to rise by 1.1 billion reais ($347.55 million) after it completes the privatization of money-losing distribution units in the North and the Northeast. The company can lower net debt/EBITDA ratio to 3.3 by end-2017 compared with 4.7 in June, and the ratio may then fall to 2.4 by 2018, Ferreira Jr said.

$1 = 3.1650 reais

Reporting by Luciano Costa; Writing by Ana Mano from Reuters.

reuters.com 10 18 2017

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