BUZZ-Brazil power firm Auren down after 'poor' Q4 results

Shares in Brazilian power company Auren Energia AURE3.SA fall sharply following its fourth quarter results

Auren posted a net loss of 363.6 million reais ($62.86 million) for the period, down from a 220.2 million real-profit a year earlier

Executives say Auren has been capturing synergies after the 2024 acquisition of the Brazilian operations of AES Corp

The company in 2025 will move forward with plans to build the Cajuina 3 wind power complex, they add

Citi analysts say that while Auren presented higher-than-expected synergy gains from the AES deal in the fourth quarter, they weren't enough to offset poor results

"Curtailment and generation remain a concern, alongside a still stretched balance sheet, especially under a still uncertain macro scenario," Citi says

Auren's shares slip more than 6.5%, the biggest faller on Brazil's benchmark stock index Bovespa .BVSP, which is up 0.5%

Year-to-date, Auren is down roughly 7%

Auren is controlled by Brazilian conglomerate Votorantim and Canada's CPP Investments

($1 = 5.7844 reais)