Copel reports EBITDA above R$ 1.0 billion in the fourth quarter

Date : 03/26/2020 @ 5:03AM
Source : PR Newswire (US)
Stock : Companhia Parana De Energ (ELP)
Quote : 9.98  -1.02 (-9.27%) @ 8:55PM
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Copel reports EBITDA above R$ 1.0 billion in the fourth quarter

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CURITIBA, Brazil, March 26, 2020 /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 2019 and would like to invite you all for its conference call on Friday to discuss its results.

In 4Q19, earnings before interest, taxes, depreciation and amortization reached R$ 1,043.7 million, 56.3% higher than the amount of R$ 667.7 million recorded in 4Q18. This result is basically explained by (i) the 32.3% growth in revenue from "Use of the main distribution and transmission grid", resulting from the 4.5% growth in the grid market, from Copel Dis's tariff readjustment (with an increase of 11, 63% at TUSD as of June 24, 2019) and the start-up of transmission projects; (ii) the 8.8% increase in the volume of energy sold in the industrial free market of Copel GeT and Copel Com, which positively impacted the "Electricity sales to final customers " revenue; and (iii) the billing of the CCEAR contracts for Baixo Iguaçu, Colíder and Cutia, generating an increase in revenue from "Electricity sales to distributors ". It is also worth mentioning the positive result of R$ 66.5 million in equity income, compared to the negative effect of R$ 78.0 million in 4Q18 and the maintenance of manageable costs, which remained practically stable in nominal terms in relation to the same period of the year. last year.

Net income reached R$ 596.5 million in 4Q19, 97.5% higher than the R$ 301.9 million reported in the same period in 2018. In 2019, net income was R$ 2,062.9 million, 42.9% higher than the R$ 1,444.0 million registered in 2018.

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

Conference Call: March 27, 2020 – FRIDAY

English: 09:00 a.m. – New York Time 
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

Cision View original content:http://www.prnewswire.com/news-releases/copel-reports-ebitda-above-r-1-0-billion-in-the-fourth-quarter-301030179.html

SOURCE Copel - Companhia Paranaense de Energia

Copyright 2020 PR Newswire

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