CURITIBA, Brazil, Nov. 29, 2017 /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 recorded EBITDA of R$643.7 million in 3Q17, an increase of 48.1% over the R$434.6 million recorded in 3Q16. The result was impacted by the R$158.1 million related to the reversal of estimated impairment losses and the nonrecurring negative effect in 3Q16 of R$206.4 million related to RBSE remeasurement.
Copel's recurring EBITDA came to R$485.6 million in 3Q17, a 25.9% drop from the recurring EBITDA of R$655.5 million in 3Q16, mainly reflecting higher costs with energy purchases, primarily due to the GSF of the period, partially offset by (a) a 4.7% increase in Copel Distribuição's grid market; (b) a 5.85% adjustment applied to Copel Distribuição's tariffs as of June 24; and (c) the lower balance with provisions and reversals, mainly related to labor, tax claims and allowance for doubtful accounts (PECLD).
The complete release is available at the Company's website: www.copel.com/ir
Conference Call: December 1, 2017 – FRIDAY
07:00 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