Copel reports adjusted EBITDA of R$ 1.4 billion in the first quarter

Rhea-AI Summary

Companhia Paranaense de Energia - COPEL reported a strong first quarter of 2021, with EBITDA reaching R$ 1,303.2 million, a rise of 18.8% from R$ 1,096.8 million in Q1 2020. Key growth drivers included a 31.4% increase in electricity sales to distributors, boosted by 687 GWh sold from TTP Araucária and a higher volume from bilateral contracts. Additionally, there was a 7.9% increase in distribution and transmission grid usage due to a 2.6% growth in the DISCO grid market. The company will hold a conference call on May 6, 2021 to discuss these results.

Positive

• EBITDA increased by 18.8% to R$ 1,303.2 million in 1Q21.
• 31.4% growth in electricity sales to distributors, driven by higher sales volumes.
• 7.9% increase in distribution and transmission grid usage.

Negative

• Electricity purchased for resale rose by 12.7%.
• Third-party services costs increased by 22.7%.

CURITIBA, Brazil, May 5, 2021 /PRNewswire/ -- Companhia Paranaense de Energia - COPEL ("Company"), a company that generates, transmits, distributes and trades energy, with shares and stock deposit certificates (UNITs) listed on B3 S.A. - Brasil, Bolsa, Balcão (CPLE3, CPLE5, CPLE6, CPLE11), on the NYSE (ELP) and LATIBEX (XCOP, XCOPO, XCOPU), announces its results for the first quarter of 2021 and would like to invite you all for its conference call on Thursday to discuss its results.

In 1Q21, earnings before interest, taxes, depreciation and amortization reached R$ 1,303.2 million, 18.8% higher than the R$ 1,096.8 million recorded in 1Q20. This result reflects, basically, the growth of 31, 4% in the "electricity sales to distributors" line, mainly due to the sale of 687 GWh of energy produced by TTP Araucária ("UEGA") in 1Q20 and the higher volume of electricity sold in bilateral contracts by Copel Mercado Livre; (ii) the 7.9% increase in the "use of the main distribution and transmission grid" line, the effect of the 2.6% growth in the DISCO's grid market and the periodic tariff review of the 060/2001 transmission agreement and the tariff readjustment applied to other transmission agreements in July 2020 and (iii) the 42.2% reduction in the "provisions and reversals" line, partially offset by the 12.7% increase in "electricity purchased for resale" and 22.7% in third-party services.

The complete release is available at the Company's website: ir.copel.com

Conference Call: May 6, 2021 – THURSDAY

English:  1:00 p.m. – UST 
               Dial in number: +1 (646) 843-6054
               Access Code: Copel 
               (Simultaneous translation into English)

Live webcast at ir.copel.com

Contacts: Investor Relations – COPEL
Phone: (55 41) 3331-4011
E-mail:ri@copel.com

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SOURCE Copel - Companhia Paranaense de Energia

FAQ

What were COPEL's EBITDA results for Q1 2021?

COPel reported an EBITDA of R$ 1,303.2 million for Q1 2021, an increase of 18.8% compared to Q1 2020.

How much did electricity sales increase for COPEL in Q1 2021?

Electricity sales to distributors increased by 31.4% in Q1 2021.

When is COPEL's conference call to discuss Q1 results?

The conference call is scheduled for May 6, 2021.

What was the increase in the use of the main distribution and transmission grid?

The use of the main distribution and transmission grid increased by 7.9%.

What were COPEL's stock symbols?

COPel's stock is listed as ELP on the NYSE.