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CTG Brasil’s profit rise 30.5% in 2022

The power generator CTG Brasil, a subsidiary of China Three Gorges Corp, closed last year with a net profit of 2.3 billion reais, an increase of 30.5% compared to 2021, when the water crisis impacted the production of its hydroelectric plants.

The company, which made an IPO on B3 at the end of last year, had earnings before interest, taxes, depreciation and amortization (Ebitda) of 4.3 billion reais, up 2.4% compared to 2021. CTG’s annual performance was also helped by an improvement in the financial result, with a net expense of 550 million reais, 49.0% lower than that recorded in 2021.

In terms of power generation, the production of the plants increased by 11.3% in 2022, totaling 23,714.50 gigawatt hours (GWh) of energy.

 CTG is one of the largest power generators in Brazil, with a portfolio of 17 hydroelectric plants and 11 wind farms, with a total installed capacity of 8.3 GW.

(Source: UOL)