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: [phone]
               Access Code: Copel 
               (Simultaneous translation into English)

Live webcast at ir.copel.com

Contacts: Investor Relations – COPEL
Phone: [phone]
E-mail: [e-mail]  

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

Copyright 2020 PR Newswire