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 – COPEL
Phone: (55 41) 3331-4011
E-mail: ri@copel.com
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SOURCE Copel