Eletrobras reports 19% lower profit in 1QR24

Eletrobras (ELET3; ELET6) recorded a net profit of R$331 million in the first quarter of this year, a 19% drop compared to the net profit of R$406 million in the same period last year, according to statements financial statements sent to the Securities and Exchange Commission (CVM). These values correspond to the gains attributable to the controlling partners.

Net operating revenue reached R$8.718 billion in the first three months of this year, representing a 5% drop compared to revenue of R$9.210 billion in the same period in 2023.

Regulatory net operating revenue, which includes the results presented to the National Electric Energy Agency (Aneel), totaled R$9.7 billion, an increase of 9% in relation to regulatory revenue of R$8.9 billion in the same period of 2023.

Eletrobras (ELET3; ELET6)

Earnings before interest, taxes, depreciation and amortization (EBITDA) was R$4.620 billion in the first three months of this year, which represents a reduction of 6% compared to the EBITDA of R$4.890 billion in the previous year.

Regulatory EBITDA reached R$5.537 billion in the first quarter, an increase of 23% compared to the previous year’s result.

Earnings

The company is distributing dividends to its shareholders today, May 9th, according to the transfer calendar approved by the company on April 26th, 2024.

Highlight is the electric company’s class ‘A’ preferred shares (ELET5), which are remunerating investors with R$2,430 per unit — the second highest value per share among the companies that are distributing values this month of May. Check out the full list for the month here.

Here are the details regarding each type of action: