Q4 2024 Companhia Paranaense de Energia Earnings Call (English, Portuguese) Transcript
Key Points
- Cia Paranaense De Energia Copel (ELP) reported a robust adjusted EBITDA of BRL1.3 billion for the fourth quarter and BRL5.1 billion for the full year 2024.
- The company proposed a significant dividend payout of BRL2.3 billion for 2024, representing an 86% payout ratio and an 8.4% dividend yield.
- Copel successfully renewed its three main power generation plants for an additional 30 years, ensuring long-term operational stability.
- The company executed strategic asset swaps and sales, including a BRL450 million sale of small hydropower assets and a BRL570 million sale of its stake in Baixo Iguacu.
- Copel maintained a strong focus on operational excellence and cost efficiency, achieving a 46% EBITDA efficiency above the regulatory level for its distribution segment.
- The performance of Copel's wind parks was negatively impacted by curtailment and unavailability of some wind turbines, affecting financial results.
- The company faced a 12% decrease in adjusted EBITDA compared to the fourth quarter of 2023, primarily due to lower sales mix and wind asset performance.
- Curtailment issues and wind volume below certification continued to pose challenges, with a curtailment rate of 13.1% in Q4 2024 compared to 8.3% in Q4 2023.
- Copel's trading segment reported a negative adjusted EBITDA of BRL15 million, reflecting lower trading margins due to price variations in submarkets.
- The company's leverage increased to 2.6 times net debt over EBITDA due to the grant bonus payment for plant renewals, although still within comfortable covenant limits.
Good morning ladies and gentlemen, and welcome to Companhia Paranaense de Energia, Copel's Video Conference to discuss the Earnings of the Fourth 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. Please be advised that all participants will only be watching the video conference during the presentation and then we will begin the Q&A session when further instructions will be provided.
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 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
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