Companhia Paranaense De Energia · BMFBOVESPA:CPLE3
Companhia Paranaense De Energia — Energy Co of Parana — Q4 2019 Earnings Presentation
78 slides from Companhia Paranaense De Energia's earnings presentation, Apr 7, 2020
Slide 1: 4Q19 Results
2 at COPEL Br Lnergiow 4Q19 Results Copel records EBITDA above RS1.0 billion in the fourth quarter EE EBITDA of RS 1,044 million in 4Q19 (+56,3%), RS 4,285 million in 2019 Cements: 2 Net income of R$ 597 million in 4Q19 (+ 97.5%), R$ 2,063 million in 2019 Conference Call CHa ADHD tet Daun #£ Dividen
Slide 2: Net operating revenue increased 8.8% in 2019
In 2019, net operating revenue increased 8.8%, mainly reflecting (i) the 3.9% increase in the volume of energy sold to final consumers – highlighting the 10.9% increase of the industrial free market of Copel GeT and Copel Com – and the tariff readjustment of Copel Dis, positively impacting “electric
Slide 3: Charges of the main distribution and transmission grid
The item “charges of the main distribution and transmission grid” increased 6.2%, mainly due to the tariff increase and transmission infrastructure charges made available to new generation projects beginning in 2019 , in addition to the effect of the variation in costs related to the dispatch of the
Slide 4: PMSO costs reduced by 6.8%
PMSO costs (except estimated losses, provisions and reversals) reduced by 6.8% mainly due to the effect of the repeal of the law that instituted the Control, Monitoring and Inspection Fee for Exploration Activities and the Use of Water Resources (TCFRH), resulting in a positive effect of R$ 129.4 mi
Slide 5: Personnel and management costs increased by 20.5%
“Personnel and management” costs increased by 20.5%, due to (i) the R$ 43.5 million provision for indemnities related to the voluntary dismissal and retirement program (PDI) and (ii) the 125.1% increase in provisions for the profit sharing program (PLR) arising from the improvement in the Company’s
Slide 6: It is also worth highlighting
It is also worth highlighting: (i) a 23.2% growth was also recorded in the “third party services” line, mainly related with the maintenance of the electric energy system and customer service costs. (ii) a R$47.0 million cost recorded as “materials and supplies for power electricity” related to the d
Slide 7: 2019 operating costs and expenses
In 2019, operating costs and expenses totaled R$ 13,160.3 million, up 3.8%. The main reasons for this variation are (i) the 46.0% increase in “depreciation and amortization” due to the start of operations of the Colíder, Baixo Iguaçu and Cutia, as well as the higher volume in the depreciation of tel
Slide 8: 2.4 EBITDA
2.4 EBITDA In 4Q19, earnings before interest, taxes, depreciation, and amortization reached R$1,043.7 million, 56.3% higher than the amount of R$667.7 million recorded in 4Q18. This result is mainly explained by (i) the 4.5% increase in the grid market, the tariff adjustment for Copel Dis (with an i
Slide 9: Year-to-date EBITDA and financial result
Year to date, EBITDA grew 36.3%, while, disregarding the non-recurring effects, adjusted EBITDA increased 30.0% and, finally, eliminating the equity accounting effect, EBITDA would be 30.2% than that recorded in 2018. 2.5 Financial Result In 4Q19, the financial result was negative by R$ 128.2 millio
Slide 10: 2.6 Consolidated Net Income
2.6 Consolidated Net Income In 4Q19, net income was of R$ 596.5 million, 97.5% higher than the R$ 301.9 million reported in 4Q18. In 2019, net income was R$ 2,062.9 million, 42.9% higher than the R$1,444.0 million recorded in 2018. 2.7 Consolidated Income Statement
Slide 11: Consolidated Income Statement
Scnraneae 4019 3015 4ai8 vars 2018 2018 Var a) @) @ (1/3) ar (3) (4/5) ‘OPERATING REVENUES aaizai04253,721 3671108 202) 16204274 14,934,780 cry Electricity sales to final customers 767,78 1.497.452 4478 473 196 6426016 5.saa.se4 158 Electricity sales to distributors 7a6.634 760,200 7210 822,865,865,
Slide 12: Assets
R$'000 ‘assets Dec-19 Sep-19 Dec-18 Var.% Var.% (1) (2) (3) (2/2) (1/3) CURRENT 7,909,196 6,748,404 6,677,846 17.2 18.4 Cash and cash equivalents 2,941,727 2,026,390 1,948,409 45.2 51.0 Bonds and securities 3,112 1,403 124,862 1218 (97.5) Collaterals and escrow accounts 147 125 203 176 (27.6) Custom
Slide 13: Loans, financing and debentures maturities
Loans, financing and debentures maturities are presented below:
Slide 14: Consolidated net debt and net debt/EBITDA
Copel’s consolidated net debt (loans, financing and debentures less cash and cash equivalents) and the net debt/EBITDA ratio are shown in the following chart:
Slide 15: Net Debt by Subsidiary
Net Debt by Subsidiary The following table shows the gross debt and net debt of the subsidiaries:
Slide 16: Accounts Payable related to the Concession
Accounts Payable related to the Concession Use of Public Property It refers to the concession charges for the use of public property incurred since the execution of the project’s concession agreement until the end of the concession.
Slide 17: Provisions for litigation
RS ‘000, EE les eas DeciS Sep-19—sDecl8 = Var% Var % eo 2) @) (a2) (a3) Tax 175,790 | 181,931 157,097 3.4) 119 Labor suits 673,062 623,579 612,782 73 98 Employees and Benefits 86297 80,943 85,199 66 13 Civil 591,756 $84,417 736,222 13 (19.6) Civil and administrative claims 336,962 343,036 | 492,934
Slide 18: Liabilities
ita Dec-19 Sep-19 Dec-18 var.% vVar.% (a) (2) (3) (1/2) (1/3) CURRENT 5,345,621 4,868,679 | 6,695,114 98 (202) Payroll, social charges and accruals 337,044 301,175 284,179 19 18.6 Suppliers 1,685,280 1,664,925 | 1,419,243, 12 18.7 Income tax and social contribution payable 60,132 133,209 197,949 (54
Slide 19: Manageable costs decreased by 55.8%
Also, manageable costs, except for estimated losses, provisions and reversals, decreased by 55.8%, mainly due to the effect of the revocation of the law that instituted the Control, Monitoring and Inspection Rate of Exploration Activities and the Use of Resources (TCFRH), resulting in a positive eff
Slide 20: Copel GeT 4Q19 net income
In the fourth quarter of 2019, Copel GeT posted a net income of R$ 430.4 million, up 209.2% vs. the R$ 139.2 million in 4Q18.
Slide 21: Copel GeT 2019 results
In 2019, Copel GeT registered an operating revenue of R$ 4,029.1 million, up 11.1% YoY, while operating costs and expenses had a 1.9% decrease, totaling R$ 2,060.4 million in the period. Net income reached R$ 1,270.4 million and EBITDA totaled R$ 2,060.4 million, an increase of 45.9% and 30.7%, resp
Slide 22: Copel Distribuição personnel expenses
Excluding the provision for indemnities related to the PDI program, personnel expenses in 4Q19 increased by only 1.8% compared to the same period in 2018, a result that was lower than the 4.31% inflation (IPCA) for period and was essentially explained by the reduction in of 400 employees at Copel Di
Slide 23: Increase in provisions
There was also a 70.7% increase in provisions, mainly due to the updated amount for collective labor claim.
Slide 24: Copel Distribuição net income and EBITDA
Net income was of R$ 206.3 million in 4Q19, up 62.8% vs. R$ 126.7 million YoY. In 2019, Copel Distribuição reported an EBITDA of R$ 1,165.0 million, 45.7% higher than in 2018, mainly due to (i) the 17.7% increase in “use of the main distribution and transmission grid” resulting primarily from the re
Slide 25: 4.3 Copel Telecomunicações
4.3 Copel Telecomunicações Copel Telecom had a negative EBITDA of R$ 12.2 million in 4Q19, versus a negative R$ 4.2 million in 4Q18, mainly due to the recognition of impairment, in the amount of R$ 6.4 million, and write-offs and remeasurement of amounts arising from the deactivation of telecommunic
Slide 26: Copel Telecom personnel and management
The personnel and management line totaled R$ 26.0 million in 4Q19, a 17.1% increase over 4Q18, due to a provision of R$ 2.1 million for the PDI program, while in 4Q18 this line was reversed by R$ 2.0 million, and an increase in provisions for profit-sharing (PLR). The number of employees was reduced
Slide 27: Copel Telecom net loss
Net income for the quarter came in as a net loss of R$ 41.1 million, versus a net loss of R$ 12.8 million in 4Q18. The following table shows the main indicators of Copel Telecom:
Slide 28: 4.4 Copel Comercialização (Copel Energia)
4.4 Copel Comercialização (Copel Energia) Copel Energia reported an EBITDA of R$ 96.6 million in 4Q19, which was significantly higher than the negative amount of R$ 8.6 million in 4Q18, mainly due to the positive result of R$ 105.7 million in the calculation of fair value on purchase and sale of ene
Slide 29: Copel Energia EBITDA excluding fair value
Excluding the effect of fair value on the purchase and sale of energy, EBITDA would have been negative by R$ 8.4 million, versus a negative amount of R$ 8.6 million in 4Q18.
Slide 30: Copel Energia 2019 and accounting information
In 2019, Copel Energia reported an EBITDA of R$ 202.4 million, versus a negative R$ 13.4 million in 2018, mainly due to the effect of R$ 204.9 million on the calculation of fair value in the purchase and sale of energy and the 30.1% increase in the volume of energy sold. 4.5 Accounting Information A
Slide 31: 5. Investment Program
5. Investment Program The following chart shows the investment program carried out in 4Q19 and scheduled for 2020:
Slide 32: Investment program by subsidiary
Subsidiary / SPC Carried Carried Scheduled? Scheduled 2019 4aa9 2019 2020 Copel Geracdo e Transmissio 8505 250.1 9775 865.2 HPP Colider 138.2 03 593 805 HPP Baixo Iguacu? 24.9 149 18.1 258 TL Curitiba Leste-Blumenau 147.2 365 196.1 1255 TL Ibipord-Londrina (Contract 060/201) 13 13 00 585 Substation
Slide 33: 6.2 Grid Market (TUSD)
6.2 Grid Market (TUSD) Copel Distribuição’s grid market, comprising the captive market, concessionaires and licensees in the state of Paraná, and all free consumers in the Company’s concession area , adjusted by removing consumers connected at 230 kV from the basis of comparison 1 , increed by 4.5 %
Slide 34: Free market growth and electricity sales
The result was mainly due to the (i) 7.2 % growth in free market consumption in 4Q19, as a result of the increase in Paraná's industrial production - growth of 8.9 % in October 2019. The sectors that contributed the most to the increase in energy consumption were food manufacturing, motor vehicles,
Slide 35: 6.4 Total Energy Sold
6.4 Total Energy Sold 2 Total energy sold by Copel in all markets, comprising sales by Copel Distribuição, Copel Geração e Transmissão, Wind Farms and Copel Comercialização totaled 12,551 GWh in the fourth quarter of 2019, an increase of 10.8 %. The following table illustrates the total energy sales
Slide 36: CCEE re-balances note
2 This item may presents a different balance to what was published in the Notice to the Market 18/19, as a result of CCEE's re-balances.
Slide 37: Energy Flow - Copel Dis.
Energy Flow - Copel Dis. aqis 4qis Var.% 2019 2018 Var.% Itaipu 1,387 1,443 (39) 5,533 5,727 (3.4) CCEAR ~ Group Companies 39 28 39.3 153 92 66.3 CCEAR Other 3,152 2,758 143) 12361 | 10,691 156 CCE (MCP) 23 16 43.8 23 34 (32.4) Angra 245 254 (3.5) 978 1,009 (3.1) CGF 1,594 1,642 (2.9) 6,274 6,519 (3
Slide 38: Energy Flow - Copel GeT
Energy Flow - Copel GeT 4qi9 4Q18 Var. 2019 2018 Var. (Own Generation (net of losses) 3,238 5,457 (40.7) 17,199 18,029 (4.6) Dona Francisca 36 35 29 141 141 - Copel Comercializagao 0) 0) - 155 180 (13.9) MRE Receipt 349 1 34,800.0 44s 142 213.4 Total Available Power 3,623 5,493 (340) 17,940 18,492 (
Slide 39: Energy Flow – Copel Comercialização
Energy Flow – Copel Comercialização
Slide 40: Energy Flow - Copel Com
GWh Energy Flow - Copel Com 4qi9 4qis Var.% 2019 2018 Var. % Copel GeT 1,368 791 729 5,124 2422) 111.6 Other 834 1,027) (18.8) 3,331 4101| (18.8) CEE (MCP) : : : 34 2) 1,600.0 Total Available Power 2,202 1818 214 8,489 6,525 30.1 Free Customers 724 600 20.7 2,715 2,096 295 Bilateral Agreements 1,469
Slide 41: Energy flow in GWh
GWh ‘Captive Market 19,784 40.3% ‘Own Generation 19,108 38.9% Electricity sales to distributor CCEE” 168 0.3% ‘Assignment MCSD EN* 1117 _2.3% Total Available Power CCEE (MVE}® 682_1.4% 49,068 Free Customers Purchased energy 6,861_ 14.0% 29,960 61.1% CCEAR: 12,361 Supplied Energy Itaipu: 5,533 17,484
Slide 42: Power Purchase Average Tariff – Copel Distribuição
Power Purchase Average Tariff – Copel Distribuição
Slide 43: Sales to Final Customers Average Tariff
Sales to Final Customers Average Tariff Copel Distribuição
Slide 44: Average tariff by customer class
RS / MWh Dec/19 Sep-19 Jun-19 Var.% Var.% Tariff @ (2) (3) (2/2) (1/3) Industrial 488.78 486.17 461.85 33 (16.5) Residential 504.36 504.46 494,89 19 (0.1) Commercial 574.41 573.88 543.17 87 18.9 Rural 466.90 468.04 416.58 124 395 Other 364.49 361.88 352.59 26 38 Retail supply average tariff (RS/MWh)
Slide 45: Shareholding structure
‘Thousand shares Shareholders ‘Common % Preferred Preferred"B" % TOTAL % State of Parand 85,029 586 : : : : 85,029 BNDESPAR 38,299 264 : : 27,282 213 65,581 Eletrobras 1531 4a : : : : 4531 Free Floating 19,836 137 7 235 100,965 787120878 83 19,187 13.2 7 235 69,783 544 89,046 NYSE 650 o4 : : 30973 2
Slide 46: Ownership by share class
Common 59% 00% * State of Parand 14% = BNDESPAR + Eletrobras iad «= Free Floating Other 26% Total 44% 01% Preferred 21% = BNDESPAR 00% * Free Floating Other 78.6% © State of Parana = BNDESPAR » Eletrobras «= Free Floating Other
Slide 47: Share trading and performance in 2019
From January to December 2019, Copel’s common shares (ON - CPLE3) and class B preferred shares (PNB - CPLE6) were traded in 100% of the trading sessions of the B3 S.A. - Brasil, Bolsa, Balcão (B3). The free float accounted for 68.9 % of the Company’s capital. At the end of December 2019, the market
Slide 48: 7.3 Dividends and Interest on Own Capital
7.3 Dividends and Interest on Own Capital The table below presents the payments of dividends and interest on own capital as of 2011:
Slide 49: Dividend and interest on own capital payments since 2011
Thousands of RS RS per Share Type of Earning Fiscal Year Approved on Paid on pes = Se Total 2011 421,091 1.46833 252507 1.61546 toc’ 2011 08/11/11 09/15/11 225,814 0.78803 0.86706 0.86706 2011 04/26/12 05/29/12 195,277 0.68030 1.65801 0.74840 2012 268,554 0.93527 252507 1.02889 2012 1219/12 01/15/13
Slide 50: Copel GeT concessions and quota system plant
On March 24, 2017 Copel GeT filed a notice of intention with Aneel to extend the concession agreement of the TPP Figueira, noting, however, that it will only sign the necessary agreements and/or amendments after learning and accepting the terms and the rules that will govern to the extension of the
Slide 51: Wind farms: installed capacity and assured power
ina tava suction’ Installed Assured Power Generation Expiration of Capacity (MW) (Average MW) (GWh) Authorization Sio Bento Energia, Invest. e Part. SA. 940 463 wis_22726 GEBoa Vista SA 140 63 350 23313 04.27.2086 GE Otho D’Agua S.A. and iA 30.0 153 761 22634 05.31.2046 GE Sao Bento do Norte S.A. (0
Slide 52: Interest in Wind Farms
Interest in Wind Farms Copel has 49% interest in the Voltalia São Miguel do Gostoso I Participações S.A. wind complex, in the State of Rio Grande do Norte. The energy output of the enterprise was sold in the Fourth Reserve Energy Auction under twenty-year contracts, with supply beginning in July, 20
Slide 53: Under Construction: SHP Bela Vista
Under Construction In August 2018 Copel was granted the right to build SHP Bela Vista with 29 MW of installed capacity. With an estimated investment of R$ 200.0 million, the project, which has 29.4 MW of installed capacity and assured power of 18.4 average MW, will be built on the Chopim River, clos
Slide 54: Colíder Hydroelectric Power Plant
Colíder Hydroelectric Power Plant On March 9, 2019, May 7, 2019 and December 21, 2019, respectively, the three generating units of the plant, each with an installed capacity of 100 MW, started commercial operation, according to Aneel Resolutions 673/2019, 1273/2019 and 3648/2019. Due to fortuitous a
Slide 55: Transmission contracts
= Substation WR wRPA Subsidiary /SPC Contract, — me mae i Extension (km) Amount va pega Expiration Copel Get 060/201? Several 2,026 33 12,352 4452 12.31.2042 Copel GeT 075/2001? TLBatelas - Jaguariaiva 137 . . 103 08.16.2031 cope Get 6/2008 Batis -Piarinno 2 ; ; 1 03162038 cope Get 27/2008 TLFox- as
Slide 56: Lot E
Lot E The commercial operation of part of the projects that compose Lot E of Transmission Auction No. 005/2015 began ahead of schedule. Fully sold to Copel GeT, Lot E is comprised of 230 km of transmission lines and 3 substations, totaling 900 MVA of power and expected ARP of R$116.9 million. On Jun
Slide 57: Operating Data
Operating Data In the distribution business, Copel serves more than 4.6 million energy customers in 1,113 locations, belonging to 394 municipalities in State of Paraná and one in the State of Santa Catarina. Copel Distribuição operates and maintains the installations at13.8 kV, 34.5 kV, 69 kV and 13
Slide 58: Compact Distribution Lines
Compact Distribution Lines Copel Distribuição has continued to implement compact distribution lines in urban areas with a high concentration of trees in the vicinity of the distribution grids. This technology avoids the cutting down or trimming of trees and improves the quality of power supply by re
Slide 59: 8.4 Telecommunications
8.4 Telecommunications Copel Telecomunicações has an optical backbone/backhaul made up of a high capacity intermunicipal transmission network and the access network. The access network can be multi-point (GPON) or point-to-point (conventional), thus connecting customers to Copel Telecom’s data trans
Slide 60: Copel Telecomunicações Fiber Optic Network
Copel Telecomunicacées Fiber Optic Network Map of the State of Parana
Slide 61: 8.6 New Projects
8.6 New Projects Project Portfolio Copel holds interests in different power generation projects. When these projects go into commercial operation, they will add 273 MW of installed capacity to the Company's portfolio (in proportional to the Company’s stake in the enterprises).
Slide 62: Chopim river studies
Copel, in partnership with other companies, is also developing studies in the lower reaches of the Chopim river that may enable other hydroelectric projects.
Slide 63: 9. Other Information: Human Resources
9 . Other Information 9.1 Human Resources Copel’s workforce closed 2019 at 7,095 employees distributed. The table below shows employee number trends in the Company and its subsidiaries in the last four years:
Slide 64: Customers per employee
At the end of December 2019, Copel Distribuição had 4,713,240 customers, representing a consumer-to-employee ratio of 949.5. Compagas, Elejor and UEG Araucária, companies in which Copel holds a majority interest, had 148, 7 and 16 employees, respectively.
Slide 65: Generation, transmission and distribution summary
Generation Copel GeT In operation Hydroeletric Quota System Thermal Wind power Under construction Hydroeletric Wind Farms In operation Under construction Partnership In operation Hydroeletric Thermal Wind farms Copel Telecom Optical cables backbone/backhaul (km) Cities served in Parana State Number
Slide 66: Consolidated Cash Flow 2019 2018
Consolidated Cash Flow 2019 2018 ‘Cash flows from operational activities ‘Net income for the period 2,062,869 | 1,444,008 ‘Adjustments to reconcile net income for the period with cash generated from operating activities 2,459,348 | 1,204,182 Depreciation and Amortization 1,093,836 749,179 Unrealized
Slide 67: Copel GeT income statement
scans Seca 4019 3ai9 Err} Var 2019 2018 Var% a (2) (3) (1/3) 4 (5) (4/s) OPERATING REVENUES 1,100,235 | 985,588 907,536 212) 4,029,142 3,625,333 a Electricity sales to final customers 179,337 | 182,505 | 164,745, 89) 700,287/ 648,893 79 Electricity sales to distributors 653,715 | 600,670 | $13,932 2
Slide 68: Copel Distribuição income statement
R$'000 esas Seam 4019 309 Err} Var% 2015, 2018 Var% a) a (3) (3) “4 (5) (4/5) OPERATING REVENUES 2,815,882 2,693,962 2,345,365 20.1 10,401,300 9,972,442 43 sales to final customers 1,442,614 | 1,172,580 | 1,232,546 17.0) $193,166 | 4,530,521 146 sales to distributors 93941 | 123,260 76,685 225) 3165
Slide 69: Copel Telecom income statement
ini Silned a9 EDrr} Err} Var% 2018 2018 Var a 2) 3) (1/3) @ (5) (9/5) INET OPERATING REVENUES, 102,099 102,212 | 105,948 (36)| 421173 421,408 (0.1) Revenues from telecommunications 101,367) 101,641, 104,286 (28)| 416.950| 399,271 44 Other operating revenues 732 sm 1,662 (56.0) 4223 2,137 (80) OPERAT
Slide 70: Copel Comercialização income statement
eaea scans Err) 309 aaas Var% 2019 2018 Verse «a 2 8) (1/3) (4) (s) (4/5) OPERATING REVENUES 522,727, 534,791, 375,073 39.4) 1,810,901 1,341,162 35.0 Electricity sales to final customers 146,698 143,275 82,309 782, $36,283) 373,037 43.8 Electricity sales to distributors (270,047 308,489 292,544 (7.7
Slide 71: Assets by subsidiary Dec-19
sesets-Deo19 rmcioe tnt women compegss cider SS inst whndForns. ommiorcond Mag Cimons Cesta Transmissi0 ‘rauciia irapura SPC ‘CURRENT ameso7| 4631951] 528758] 313,896] 80079] 60,788 229,630 Eres 55751] 4018427 | (1,000,738)] 7,909,196 Cash and cash equivalents si3006 | 1372666| w6saa| 141,696| 37,87
Slide 72: Assets by subsidiary Dec-18
ssses- Deets Geoiio® putaso Teecom —commgss eer ES camertayto whdFams SAE ang tation casted ‘CURRENT 1,487,257 | 3,971,915 88,239 204,725 80,990 33,573 181,077 459,662 22,918 1,170,320 (1,022,830) 6,677,846 Cash and cash equivalents 473,498 634,393 19,208 90,155 42,886 21,516 12,399 330,528 8,823 31
Slide 73: Liabilities by subsidiary Dec-19
Rs'000 Geragioe ws Lsaeatpaeetie Lbilities-Dec/19 Teer S, —Distribugo Telecom == Compagas Elejoe EG ArauesriaComercilizaSo Wind Farms MarumbiSPCand Holding —=—«Eminations-_Consalidated Uiropuru SPC ‘CURRENT 949.980 | 269,159 33,204 236,190 35,647 91,066 368,016 266,997 23,526 958871 (992,125)) 5,345
Slide 74: Liabilities by subsidiary Dec-18
$'000 Uber Dat Comes io Yalan = cammagss—«=or=—««UEG Arti ceria whdrams SMOCSTE ig eins cntind CURRENT 2,640,071, 2,459,317 143,667 133,769 124,880, 42,185 137,337, 586,450, 15,481 1,435,888 (2,023,931) 6,695,114 Social charges and acovale rama) a7eas7| aR 235 aman 0 © 610 = asta Asocated companies
Slide 75: Income Statement 2019 by subsidiary
$000 Taos ase Income Statement 2019 — Dianicto Telecom — campuces ror YES, camatnsto wintrarms S*MEMOM ng ion Cole ae Tei =. TT FEAT nO prem] esse] iowa | ars] wea] niga —saze|—saiosn| sao] son “]_aaae)_aeaeam esc sale ofl estes 72287 =) saa : : : =) sae : : = amo) 65016 esc sle odio ones 2 eset : <
Slide 76: Income Statement 2018 by subsidiary
Geragio e Transmissi0 ee limi. e Jncome Statement 2018 ee a i a a Se NET OPERATING INCOME 2567806 | 897,950| 9.972.402) 21,408] 58gs32| 293,902 520 a3anae2 | 17412 9a78 =) (1332,276)|_ 14,934,780 Electricity sales to final customers 648,893 =) 4530521 - zi - ~ 373037 : ~_Ga67) 5545588 Electricity sa
Slide 77: Income Statement 4Q19 by subsidiary
ns'000 Gergioe —SetasdoeTransmisio - = Costa Oeste SPC, Income Statement 4019 Pad Distbulggo Telecom Compagas Elsjor tS, Comeriaizaglo Wind Farms Marumbi SPC and Holiing——Eliminatons_—_Conslldated Generation Transmission Uirapuru SPC "NET OPERATING INCOME. ‘3a7A70| 696808) 240875] 2815883) 102000] 1
Slide 78: Signature and forward-looking statements
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date April 7, 2020 COMPANHIA PARANAENSE DE ENERGIA – COPEL By: / S / Daniel Pimentel Slaviero Daniel Pim