Investor Presentaiton
Managerial cash flow
AES Brasil ended 2021 with consolidated cash
of R$4.3 billion, up by R$2.4 billion versus 2021.
Operating cash generation totaled R$1.0 billion,
chiefly reflecting the improvement in the successful
commercial strategy and the operating performance of
our wind and solar assets.
In 2022, AES Brasil raised a net total of R$3.3 billion
in the credit and capital markets. Funds were allocated
mainly to expanding our renewable portfolio. About
R$2.3 billion were used for the construction of the
Tucano and Cajuína Wind Power Complexes and about
R$1 billion was allocated for the acquisition of the new
wind assets in the fourth quarter of 2022.
Costs and expenses
In 2022, costs and expenses totaled R$535.3 million,
up 18.0% from the amount adjusted for non-recurring
effects in 2021 (R$453.7 million). Eliminating these non-
recurring events - especially the review of the earn-out
provided for upon the acquisition of Alto Serão II Wind
Power Complex and a receipt due to losses in Ventus
Wind Power Complex -, two thirds of the increase
in operating costs in 2022 are related to inflation
(5.8% in the 12-month period, measured by IPCA)
and portfolio growth, which is reflected in O&M
expenses in Mandacaru, Salinas, Ventos do Araripe,
Caetés and Cassino.
In 2022, net operating revenue totaled BRL 2.8 billion, an increase of 13.3%
compared to 2021 (BRL 2.5 billion).
2022 Integrated Sustainability Report > Competitiveness
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