Copel reports adjusted EBITDA of R$1.5 billion in the fourth quarter

Companhia Paranaense de Energia - Copel (NYSE: ELP) reported a strong performance for 4Q20, achieving an EBITDA of R$ 1,308.7 million, a 26.5% increase from R$ 1,034.5 million in 4Q19.

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Rhea-AI Summary

Companhia Paranaense de Energia - Copel (NYSE: ELP) reported a strong performance for 4Q20, achieving an EBITDA of R$ 1,308.7 million, a 26.5% increase from R$ 1,034.5 million in 4Q19. Key drivers included an 82.5% growth in electricity sales to distributors and a 14.7% increase in grid usage. Adjusted EBITDA rose significantly to R$ 1,489.1 million, up 50.6% year-over-year. The company will host a conference call on March 18, 2021, to discuss these results further.

Positive

EBITDA increased by 26.5% to R$ 1,308.7 million in 4Q20.
Electricity sales to distributors grew by 82.5%.
Adjusted EBITDA reached R$ 1,489.1 million, a 50.6% year-over-year increase.

Negative

Electricity purchased for resale increased by 32.5%, indicating rising costs.

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03/18/2021 - 12:22 AM EDT

CURITIBA, Brazil, March 18, 2021 /PRNewswire/ -- Companhia Paranaense de Energia - Copel (NYSE: ELPVY, ELP / Latibex: XCOP / B3: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announces its results for the fourth quarter of 2020 and would like to invite you all for its conference call on Thursday to discuss its results.

In 4Q20, earnings before interest, taxes, depreciation and amortization reached R$ 1,308.7 million, 26.5% higher than the R$ 1,034.5 million recorded in 4Q19. This result is basically due to the 82.5% growth in the "electricity sales to distributors" line, mainly due to the commercialization of 564 GWh of energy produced by UTE Araucária ("UEGA") in 4Q20 and the higher volume of energy sold in bilateral contracts by Copel Mercado Livre; (ii) the 14.7% increase in the "use of the main distribution and transmission grid" line, a consequence of the 3.3% growth in the distributor's grid market and the periodic tariff review and tariff readjustment in transmission contracts , and by the net record of R$ 178.2 million in reversals in the "provisions and reversals" line, partially offset by the 32.5% increase in "electricity purchased for resale". Excluding non-recurring items, adjusted EBITDA was R$ 1,489.1 million, 50.6% higher than that recorded in 4Q19.

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

Conference Call: March 18, 2021 – THURSDAY

English: 13:00 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:http://www.prnewswire.com/news-releases/copel-reports-adjusted-ebitda-of-r1-5-billion-in-the-fourth-quarter-301249816.html

SOURCE Copel - Companhia Paranaense de Energia

FAQ

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What were Copel's earnings for 4Q20?

Copel's EBITDA for 4Q20 was R$ 1,308.7 million, a 26.5% increase over 4Q19.

What is the growth rate of electricity sales to distributors for Copel?

Electricity sales to distributors increased by 82.5% in 4Q20.

When is Copel's conference call to discuss 4Q20 results?

The conference call is scheduled for March 18, 2021.

What was Copel's adjusted EBITDA in 4Q20?

Copel's adjusted EBITDA for 4Q20 was R$ 1,489.1 million, up 50.6% from the previous year.

How did the cost of electricity purchased for resale impact Copel's financials?

The cost of electricity purchased for resale increased by 32.5%, which could affect overall profitability.

Copel reports adjusted EBITDA of R$1.5 billion in the fourth quarter