Copel reports adjusted EBITDA of R$ 1.4 billion in the second quarter

Copel reported an adjusted EBITDA of R$1,433.2 million for 2Q21, a 47.1% increase from R$974.4 million in 2Q20.

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Rhea-AI Summary

Copel reported an adjusted EBITDA of R$1,433.2 million for 2Q21, a 47.1% increase from R$974.4 million in 2Q20. This surge was primarily driven by the sale of 507 GWh of energy from TPP Araucária and increased revenues from power grid availability. However, total EBITDA, including non-recurring items, fell by 12.1% to R$1,514.1 million compared to R$1,722.7 million in 2Q20, mainly due to prior year one-time gains from tax adjustments. The comprehensive release details are available on Copel's investor relations website.

Positive

Adjusted EBITDA rose to R$1,433.2 million, up 47.1% from R$974.4 million in 2Q20.
507 GWh of energy sold from TPP Araucária contributed significantly to revenue.
Revenue increased from power grid availability due to a 12.2% market growth.

Negative

Total EBITDA, including non-recurring items, decreased 12.1% to R$1,514.1 million from R$1,722.7 million in 2Q20.
Previous year’s EBITDA included one-time gains of R$809.1 million due to favorable tax rulings.

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08/11/2021 - 10:11 PM EDT

CURITIBA, Brazil, Aug. 11, 2021 /PRNewswire/ -- Adjusted EBITDA, excluding non-recurring items, reached R$1,433.2 million in 2Q21, up by 47.1% over the R$974.4 million reported in 2Q20. Such growth was mainly due to (i) the sale of 507 GWh of energy produced by TPP Araucária ("UEGA") in 2Q21 (no energy was dispatched in 2Q20); and (ii) higher revenue from the "availability of the power grid (TUSD/TUST)", mainly due to the 12.2% growth of the distributor's grid market, higher yield on transmission assets because of a rise in IPCA in 2Q21 the periodic tariff review applied on transmission contracts. These events were partially offset by higher costs with "electricity purchased for resale", due to the worsening of the water situation in June and the increase in the average difference settlement price - PLD (south) in 2Q21 (R$233.36 compared to R$75.47 in 2Q20).

The EBITDA including all factors and non-recurring items totaled R$1,514.1 million, down by 12.1% from the R$1,722.7 million reported in 2Q20. This result was mainly due to the positive effect from non-recurring items in 2Q20, especially the decision in favor of Copel Distribuição related to the right to exclude the ICMS from the PIS and COFINS tax base, leading to a recognition of R$809.1 million in the "other operating revenues" line.

The complete release is available at the Company's website: ir.copel.com

Conference Call: August 12, 2021 – THURSDAY

English:           1:00 p.m. – UST
                         Dial in number: +1 (646) 843-6054
                         Access Code: Copel
                         (Simultaneous translation into English)

Live webcast at ir.copel.com

Contacts: Investor Relations – COPEL
Phone: (55 41) 3331-4011
E-mail:ri@copel.com

View original content:https://www.prnewswire.com/news-releases/copel-reports-adjusted-ebitda-of-r-1-4-billion-in-the-second-quarter-301353878.html

SOURCE Copel

FAQ

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What was Copel's adjusted EBITDA for the second quarter of 2021?

Copel's adjusted EBITDA for 2Q21 was R$1,433.2 million, a 47.1% increase from R$974.4 million in 2Q20.

How much energy did Copel sell from TPP Araucária in 2Q21?

In 2Q21, Copel sold 507 GWh of energy produced by TPP Araucária.

What caused the decrease in Copel's total EBITDA in 2Q21?

The total EBITDA decreased by 12.1% due to a lack of non-recurring gains seen in the previous year.

Where can I find the complete press release from Copel?

The complete press release is available on Copel's investor relations website at ir.copel.com.

Copel reports adjusted EBITDA of R$ 1.4 billion in the second quarter