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Thu. 11 Nov 2021, 6:49am ETBenzinga
In: Commodities, Small Cap, Press Releases

CURITIBA, Brazil, Nov. 11, 2021 /PRNewswire/ -- Copel's EBITDA, encompassing all factors, including non-recurring and discontinued operations, reached R$4,492.4 million, an increase of 274.8% compared to the R$1,198.6 million recorded in 3Q20. A significant part of this result reflects the positive effect caused by the gain on the divestment of Copel Telecomunicações, with an impact of R$1,723.9 million, and by the renegotiation of the hydrological risk (GSF), in the amount of R$1,570.5 million. Adjusted EBITDA, excluding non-recurring items, reached R$1,286.7 million in 3Q21, 3.8% higher than the R$1,240.1 million recorded in 3Q20. This growth is mainly due to (i) the sale of the 641 GWh of energy produced by UTE Araucária ("UEGA"), (ii) the 8.3% growth in the wire market and the readjustment implemented after the 5th cycle of Copel Distribuição's tariff review, (iii) the increase in remuneration on transmission assets due to inflation, the greater asset base due to the RBSE reprofiling and new projects in operation, and (iv) the higher volume of energy sold in contracts bilateral and for free consumers by Copel Mercado Livre. These events were partially offset, mainly, by the 125.5% increase in the cost of electricity purchased for resale due to the water deficit in the period (average GSF of 51.1% in 3Q21 against 66.0% in 3Q20 and average PLD of R$581.7/MWh in 3Q21 against R$91.68/MWh in 3Q20).

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

Conference Call: August 12, 2021 – THURSDAY

English: 12:00 p.m. – UST 

Broadcast through Internet

Live webcast at ir.copel.com

 

View original content:https://www.prnewswire.com/news-releases/copel-reports-ebitda-of-r4-5-billion-in-3q21--301422088.html

SOURCE Copel