CURITIBA, Brazil, Aug. 13, 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 2Q20, earnings before interest, taxes, depreciation and amortization reached R$1,793.3 million, 89.4% higher than the R$947.0 million recorded in 2Q19. This result is explained, basically, by the non-recurring items, referring to the favorable court decision to Copel Distribuição, which recognizes the right to exclude the full amount of Tax on Circulation of Goods and Services - "ICMS" from the Federal taxes PIS and COFINS calculation basis, which reflected in the record of R$809.1 million in the line "other operating revenues", and the 4.6% increase in"use of the main distribution and transmission grid", essentially due to the positive result of the periodic tariff review of the 060/2001 Main Transmission Concession Agreement. Excluding non-recurring items, adjusted EBITDA is R$979.6 million, 1.2% higher than that recorded in 2Q19.
The complete release is available at the Company's website: ir.copel.com
Conference Call: August 14, 2020 – FRIDAY
English: 11:00 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