CURITIBA, Brazil, May 15, 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 first quarter of 2020 and would like to invite you all for its conference call on Friday to discuss its results.
In 1Q20, earnings before interest, taxes, depreciation, and amortization (EBITDA) reached R$1,153.3 million, 5.6% higher than the R$1,092.1 million recorded in 1Q19. This result is mainly due to (i) the 32.8% growth in "electricity sales" revenue, due to the increased volume of electricity supplied through Copel COM's bilateral agreements and CCEAR's agreements, as well as UTE Araucária's dispatch; and (ii) the 4.2% increase in the volume of electricity sold to final consumers - notably the 22.6% increase in Copel GeT's and Copel Com's industrial free market, positively impacting by 7.8% the "electricity sales" revenue. It should also be noted the positive result of R$22.9 million in equity pickup (compared to R$16.4 million in 1Q19) and manageable costs, which remained stable in nominal terms year-on-year.
Disregarding non-recurring events, Copel reached an adjusted EBITDA of R$1,231.2 million in 1Q20, up by 11.5% over 1Q19. Also, excluding the equity income effects, adjusted EBITDA would have reached R$1,208.3 million in 1Q20.
The complete release is available at the Company's website: ir.copel.com
Conference Call: May 15, 2020 – FRIDAY
English: 01:00 p.m. – New York Time
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