Copel reports adjusted EBITDA of R$1.2 billion in the third quarter
CURITIBA, Brazil, Nov. 12, 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 second quarter of 2020 and would like to invite you all for its conference call on Friday to discuss its results.
In 3Q20, earnings before interest, taxes, depreciation and amortization reached R$1,134.7 million, 11.1% lower than the R$1,276.7 million reached in 3Q19. This result is basically due to the R$280 million variation in "provisions and reversals" line, due to the increase in litigation provisions and the reversal of impairment of wind assets in 3Q19. Excluding non-recurring items, adjusted EBITDA is R$1,240.2 million, 28.3% higher than that recorded in 3Q19, largely explained by (i) the higher volume of energy sold, due to the energy seasonality estrategy, combined with lower price exposure in Spot Market; (ii) the positive impact of the review and tariff readjustment of the transmission company's concession agreements at Copel GeT; (iii) the tariff readjustment at Copel Dis and the increase in revenue from portion B, and (iv) the resumption of 0.3% growth in the grid market in September, offset by the accumulated reduction of 2.8% in 3Q20.
The complete release is available at the Company's website: ir.copel.com
Conference Call: November 13, 2020 – FRIDAY
English: 10:00 a.m. – Local Time Dial in number: +1 646 843 6054 Access Code: Copel (Simultaneous translation into English)
Live webcast at ir.copel.com
Contacts: Investor Relations – COPELPhone: (55 41) 3331-4011E-mail: [email protected]
View original content:http://www.prnewswire.com/news-releases/copel-reports-adjusted-ebitda-of-r1-2-billion-in-the-third-quarter-301172519.html
SOURCE Copel
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla touts acceleration of new models, but Q1 results fall short of estimates
- Eastgroup Properties (EGP) Tops Q1 EPS by 17c, provides guidance
- GenScript Singapore's Open Day Reveals Pioneering AI Capabilities in Recombinant Protein Production and Drug Discovery
Create E-mail Alert Related Categories
PRNewswire, Press ReleasesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!