Q3 2025 ISA Energia Brasil SA Earnings Call (English, Portuguese) Transcript
Key Points
- The company achieved a 1.3% growth in Annual Permitted Revenue (RAP) for the 2025-2026 cycle, with significant contributions from the Paulista Concession and tender contracts.
- Investments in the third quarter totaled BRL1.2 billion, focusing on reinforcements, improvements, and greenfield projects.
- Net income for the quarter grew by 27%, driven by lower depreciation and the declaration of interest on equity.
- The company announced the distribution of BRL445 million in interest on equity, corresponding to 75% of the regulatory net income for the first quarter.
- The company is committed to sustainability, aiming for a 90% reduction in emissions by 2050 and has made significant progress in reducing CO2 emissions.
- Net revenue and EBITDA decreased by 9% and 7%, respectively, due to a stronger comparative base from the previous year.
- The company decided not to participate in an upcoming transmission auction, which may impact growth opportunities.
- The net debt to EBITDA ratio increased to 3.44 times, reflecting higher leverage due to ongoing investments.
- There was a reduction in revenues with the pension plan, impacting the consolidated EBITDA.
- The company faces challenges in balancing capital expenditures and regulatory income until the next tariff revision in 2028.
Good morning, everyone, and thank you for waiting. Welcome to our earnings call of Q3 2025 of ISA Energia Brasil. (Operator Instructions)
We inform that this earnings call is being recorded and it's going to be available on the IR site of the company, where you will find available the complete material. You can download the presentation also via the chat icon, including in English.
(Operator Instructions) The declarations contained in this presentation representing the projections of ISA Energia Brasil are forecasts and were based on the expectations of the administration with regard to the future of the company.
These expectations are highly dependent on market issues, on the economic development of the country, of the sector, and of international markets, and are subject to changes. Final considerations are not a guarantee of performance. They involve risks, uncertainties, and premises because they refer to future events and circumstances that may or may not occur.
Investments need to understand that market conditions and other operational factors may impact the
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