CURITIBA, Brazil, March 23,
2022 /PRNewswire/ -- Adjusted EBITDA, excluding
non-recurring items, reached R$ 1,039.5
million in 4Q21, 26.6% lower than the R$ 1,417.2 million recorded in 4Q20. This
reduction is mainly due to the drop in the results of the Araucária
Thermoelectric Power Plant and Copel GeT, partially offset by the
good result of Copel Distribuição. The main factors that explain
the reduction are:
- the 55% reduction in TPP Araucária dispatch (360 GWh in 4Q21
against 797 GWh in 4Q20) combined with a lower net margin on energy
sales for the period, as in 4Q21 the unit variable cost (CVU) no
longer included the portion of the plant's fixed costs, as such
costs had already been recovered in previous quarters;
- the water deficit, with low GSF (67.71% compared to 69.43% in
4Q20), resulting in a 142.7% growth in costs with "electricity
purchased for resale" by Copel GET;
- the positive effect of R$ 68.7
million on EBITDA in 4Q20, referring to the result of Copel
Telecomunicações, which is no longer part of the Copel group since
August 2021;
- the R$ 66.3 million increase in
costs with third-party services, mainly due to the R$ 42.9 million maintenance of the Araucária
thermoelectric turbine; and
- the negative effect of R$ 142.1
million in the "provisions and reversals" line, mainly due
to the increase of R$ 39.4 million in
the estimate of expected credit losses and the recording of
R$ 114.0 million in provisions for
litigation, basically due to civil lawsuits, with emphasis on
R$ 29.9 million referring to the
arbitration process related to the Mauá plant.
The complete release is available at the Company's website:
ir.copel.com
Conference Call: March 23, 2022
– Wednesday
English: 1:00 p.m. – UST
Broadcast
through Internet
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