Companhia Paranaense de Energia Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended 2014; Reports Impairment Loss for the Fourth Quarter of 2014
Mar 23 15
Companhia Paranaense de Energia reported consolidated earnings results for the fourth quarter and full year ended 2014. For the quarter, the company’s EBITDA stood at BRL 518.7 million, a 97.7% up on fourth quarter of 2013. The result in fourth quarter stand from 2 basic drivers: revenues greater than BRL 1 billion due to the recognition of the net balance on sectoral assets and losses related to the impairment of over BRL 800 million, impairment of generation assets, primarily from Colíder plant. Another important fact was the income from Araucária TPP, which reached BRL 155 million in fourth quarters of 2014. Operating Revenue was BRL 4,462,387,000 against BRL 2,444,042,000 a year ago. Profit before financial results and taxes were BRL 351,215,000 against BRL 99,740,000 a year ago. Operational income was BRL 362,041,000 against BRL 146,830,000 a year ago. Net income attributed to controlling shareholders was BRL 237,142,000 against BRL 174,062,000 a year ago. Return on shareholders' equity (annualized) was 8.6% compared to 5.9% a year ago. CapEx was BRL 389 million compared to BRL 867 million a year ago.
For the full year, operating revenue was BRL 13,918,517,000 against BRL 9,180,214,000 a year ago. Profit before financial results and taxes were BRL 1,709,914,000 against BRL 1,226,193,000 a year ago. Operational income was BRL 1,857,631,000 against BRL 1,506,504,000 a year ago. Net income attributed to controlling shareholders was BRL 1,205,950,000 against BRL 1,072,560,000 a year ago. Net cash generated by operating activities was BRL 1,091,372,000 against BRL 1,337,611,000 a year ago. Additions in investments were BRL 628,621,000 against BRL 519,315,000 a year ago. Additions to property, plant, and equipment were BRL 895,335,000 against BRL 420,227,000 a year ago. Additions to intangible were BRL 1,254,570,000 against BRL 1,299,073,000 a year ago. The main drivers for the revenue growth were: first, a 31% increase in revenue of sales to final customers basically due to a 24.86% adjustment to tariffs of Copel Distribuição as of June 2014 into the markets growth over the period in 2014. Consolidated EBITDA increased 28% in 2014, totaling BRL 2.3 billion, with a margin of 20% over the operating revenue. The company's cash generation accounted for 37% of the consolidated EBITDA. Return on shareholders' equity (annualized) was 10.3% compared to 8.9% a year ago. CapEx was BRL 2,239 million compared to BRL 1,937 million a year ago. Net debt was BRL 4,723 million compared to BRL 2,280 million a year ago. Book value per share was BRL 50 compared to BRL 47.24 a year ago.
The company reported impairment loss for the fourth quarter of 2014. For the quarter, the company reported impairment loss of BRL 807.3 million in generation assets.
Companhia Paranaense de Energia Proposes Distribution
Mar 20 15
Companhia Paranaense de Energia announced that the distribution of BRL 622.5 million in dividends and interest on own capital, representing a payout of 50%, will be proposed to the Annual Shareholders' Meeting to be held on April 23, 2015. This total already includes the anticipation of BRL 380.8 million, BRL 350.8 million of which in dividends and BRL 30.0 in interest on own capital, on November 21, 2014.
Companhia Paranaense de Energia, Board Meeting, Feb 27, 2015
Feb 27 15
Companhia Paranaense de Energia, Board Meeting, Feb 27, 2015., at 11:00 Argentina Standard Time. Agenda: To approve, by a unanimous vote, the granting of a guarantee by Companhia Paranaense de Energia – Copel for the faithful, full and timely compliance of all the obligations assumed or that may be assumed by Copel Geração e Transmissão S.A. in the scope of the First Issue of Promissory Notes, totaling four hundred and fifty million reais (BRL 450,000,000.00); and to authorize the members of the Company’s Board of Executive Officers or their proxies to take any and all measures and sign any and all documents necessary to execute the items resolved at the meeting, including, but not limited to, the Instruments of the Promissory Notes issued by Copel GeT, as guarantor.