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Copel records EBITDA of R$767.8 million in the first quarter

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Copel records EBITDA of R$767.8 million in the first quarter

PR Newswire

CURITIBA, Brazil, May 16, 2018 /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 third quarter of 2017.

COPEL reported an EBITDA of R$767.8 million in 1Q18, a 23.7% increase as compared to R$1,006.1 million verified in 1Q17. This result was mainly impacted by to (i) the reduction of 32.6% in use of main distribution and transmission grid revenue, mainly due to the recognition of the adjustment of the definitive report of the Existing System Basic Network (RBSE) assets in 2017 of R$183.0 million, and (ii) the provision of R$91.2 million for compensation of 585 employees who joined the Encouraged Retirement Program - PDI (against R$7.2 million in 1Q17).

Copel's adjusted EBITDA in 1Q18 was of R$863.1 million, a 0.3% higher when compared to the adjusted EBITDA in 1Q17 (R$860.3 million) and reflects the lower energy allocation in 1Q18, due to Copel GeT's energy allocation strategy

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

Conference Call: May 17, 2018 – THURSDAY

English:

09:00 a.m. – New York Time

Dial in number:

+1 516 300-1066

Access Code:

Copel

(Simultaneous translation into English)

Live webcast at www.copel.com/ir

 

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SOURCE Copel - Companhia Paranaense de Energia

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