CURITIBA, Brazil, March 29, 2019 /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 fourth quarter of 2018 and would like to invite you all for its conference call tomorrow to discuss its results.
Copel recorded EBITDA of R$756.6 million in 4Q18, 45.0% higher than the R$521.7 million recorded in 4Q17. The result was mainly impacted by (i) the improvement in hydrological conditions in the last quarter of 2018 vs. 2017, the average GSF was 81.9% (vs. 69.3% in 4Q17) and the average PLD was R$158.24/MWh (vs. R$398.09/MWh in 4Q17); (ii) the decreased provisions and reversals (R$35.2 million provisioned in 4Q18 vs. R$268.4 million in 4Q17), mainly due to the reversal of civil and administrative lawsuits totaling R$80.7 million and to the 29.2% decrease in the provision for labor lawsuits; and (iii) a 6.1% increase in the volume of energy sold to final consumers, which increased the revenues from "electricity sales to final customers". EBITDA in 4Q18, adjusted for items considered non-recurring, reached R$692.7 million, an increase of 0.6% compared to 4Q17 (R$688.2 million).
The complete release is available at the Company's website: ir.copel.com
Conference Call: March 29, 2018 – FRIDAY
English: 09:00 a.m. – New York Time
Dial in number: +1 646 843 6054
Access Code: Copel
(Simultaneous translation into English)
Live webcast at ir.copel.com
SOURCE Copel - Companhia Paranaense de Energia