Q3 2024 Companhia Paranaense de Energia Earnings Call Transcript
Key Points
- Cia Paranaense De Energia Copel (ELP) reported an adjusted EBITDA exceeding BRL1.2 billion, with a reported net income also surpassing BRL1.2 billion.
- The company successfully completed divestments at Compagas and UEGA, aligning with its decarbonization strategy and adding BRL170 million to net income.
- Copel declared dividends of BRL485 million, equivalent to a 50% payout, demonstrating a commitment to shareholder returns.
- The company executed a significant reduction in personnel costs, achieving an 11.2% drop by optimizing processes and ensuring service quality.
- Copel's energy sales strategy resulted in a significant margin increase, with improved contracting levels for 2025 and 2026, positioning the company as an agile market player.
- Copel G&T and COM faced challenges due to curtailment effects on wind assets and energy price decoupling between submarkets.
- Adjusted EBITDA was 10.9% lower compared to the third quarter of 2023, primarily due to a reduction in average energy prices.
- The trading segment's adjusted EBITDA dropped significantly to BRL3.2 million from almost BRL20 million last year, impacted by market price differences.
- The company anticipates a change in leverage following the payment of a BRL4 billion grant bonus for hydroelectric plant concessions.
- Curtailment levels in renewable generation, particularly in the Northeast, remain a concern, affecting the company's wind farm operations.
Good morning, ladies and gentlemen. Welcome to Companhia Paranaense de Energia-Copel's video conference to discuss the earnings for the third quarter of 2024. This video conference is being recorded and will be available on the company's website, ri.copel.com. The presentation is also available for download. (Operator Instructions)
Before proceeding, I would like to note that the forward-looking statements are based on the beliefs and assumptions of Copel's management and on the information currently available to the company. These statements may involve risks and uncertainties as they relate to future events and therefore, depend on circumstances that may or may not occur. Investors, analysts and journalists should consider that events related to the macroeconomic environment, industry and other factors could lead results to differ materially from those expressed in such forward-looking statements. This video conference will be presented by Mr. Daniel Slaviero, CEO of Copel; Mr.
Felipe Gutterres, CFO; as well as directors of the subsidiaries who will be available for the Q&A session
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