Copel reports adjusted EBITDA of R$1.2 billion in the third quarter

In 3Q20, earnings before interest, taxes, depreciation and amortization reached R$1,134.7 million, 11.1% lower than the R$1,276.7 million reached in 3Q19. This result is basically due to the R$280 million variation in "provisions and reversals" line, due to the increase in litigation provisions and the reversal of impairment of wind assets in 3Q19. Excluding non-recurring items, adjusted EBITDA is R$1,240.2 million, 28.3% higher than that recorded in 3Q19, largely explained by (i) the higher volume of energy sold, due to the energy seasonality estrategy, combined with lower price exposure in Spot Market; (ii) the positive impact of the review and tariff readjustment of the transmission company's concession agreements at Copel GeT; (iii) the tariff readjustment at Copel Dis and the increase in revenue from portion B, and (iv) the resumption of 0.3% growth in the grid market in September, offset by the accumulated reduction of 2.8% in 3Q20.

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