Copel reports adjusted EBITDA of R$ 1.4 billion in the second quarter
CURITIBA, Brazil, Aug. 11, 2021 /PRNewswire/ -- Adjusted EBITDA, excluding non-recurring items, reached R$1,433.2 million in 2Q21, up by 47.1% over the R$974.4 million reported in 2Q20. Such growth was mainly due to (i) the sale of 507 GWh of energy produced by TPP Araucária ("UEGA") in 2Q21 (no energy was dispatched in 2Q20); and (ii) higher revenue from the "availability of the power grid (TUSD/TUST)", mainly due to the 12.2% growth of the distributor's grid market, higher yield on transmission assets because of a rise in IPCA in 2Q21 the periodic tariff review applied on transmission contracts. These events were partially offset by higher costs with "electricity purchased for resale", due to the worsening of the water situation in June and the increase in the average difference settlement price - PLD (south) in 2Q21 (R$233.36 compared to R$75.47 in 2Q20).
The EBITDA including all factors and non-recurring items totaled R$1,514.1 million, down by 12.1% from the R$1,722.7 million reported in 2Q20. This result was mainly due to the positive effect from non-recurring items in 2Q20, especially the decision in favor of Copel Distribuição related to the right to exclude the ICMS from the PIS and COFINS tax base, leading to a recognition of R$809.1 million in the "other operating revenues" line.
The complete release is available at the Company's website: ir.copel.com
Conference Call: August 12, 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:[email protected]
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SOURCE Copel