Copel (CPLE6) recorded a 16% drop in net profit in the first quarter of 2024 compared to the same period in 2023, falling from R$635.5 million to R$533.5 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) was R$1.399 billion, an annual drop of 16%. This led to a drop in the Ebitda margin of 3.1 pp (percentage points), to 25.8%.
The company explains that the reduction reflects, above all, the “lower average price of energy sold by Copel GeT, partially offset by the increase in Copel Distribuição’s revenue due to the 7.9% growth in the billed wire market in its concession area ”.
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Copel (CPLE6): results
Net revenue totaled R$5.417 billion in the first quarter of 2024, growth of 2.8% compared to the same period in 2023.
The net financial result was negative R$268.2 million in the first quarter of 2024, a reduction of 18.5% over the financial losses in the same stage of 2023.
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On March 31, 2024, the company’s adjusted net debt was R$8.819 billion. The financial leverage indicator, measured by net debt/adjusted EBITDA, was 2.0 times in March/24, a drop of 0.5 pp compared to the same period in 2023.
 profits R$533.5 million in the first quarter, a drop of 16%){kind=link}