Companhia Paranaense De Energia · BMFBOVESPA:CPLE3
Companhia Paranaense De Energia — Energy Co of Parana — Q3 2019 Earnings Presentation
79 slides from Companhia Paranaense De Energia's earnings presentation, Nov 13, 2019
Slide 1: 3Q19 Results
3Q19 Results Copel records EBITDA of RS$1.2 billion in the third quarter E% Adjusted EBITDA grew 16.0% in 3Q19 (23.9% in 9M19) ces 2£ Operating cash flow of R$1.0 billion in 3Q19 (R$3.4 billion in 9M19) Conference Call ELLE OME) = Lge gum, 3% Copel Distribuic&o exceeds regulatory EBITDA by 3.5% (Bra
Slide 2: Programa Transformação, 2020 investment program, Copel Telecom impairment
This achievement reinforces Copel’s commitment to the highest efficiency standards and reflects the Company's conviction that financial discipline is one of the most important pillars for business continuity and sustainable growth. Accordingly, the Company launched the “Programa Transformação” (Tran
Slide 3: Net operating revenue increase in nine months
In the first nine months of the year, net operating revenue increased 5.0%, mainly reflecting (i) the 3.5% increase in the volume of energy sold to final consumers - highlighting the 11.6% increase of the industrial free market of Copel GeT and Copel Com - positively impacting “electricity sales to
Slide 4: Provisions and reversals, impairment of Cutia Wind Complex
Also noteworthy is the reversal of R$37.3 million in “provisions and reversals”, mainly due to the reversal of impairment of the Wind Complex Cutia, in the amount of R$179.9 million related to the business plan that, with the start of operation of the parks, now includes the contracts effectively si
Slide 5: Charges of the main distribution and transmission grid
$'000 Charges of the main distribution and transmission grid ae =~ ere bieted = — () (2) (3) (1/3) (4) (5) (4/5) System usage charges 267,461) 282,762! 249,178) 73 806,856 | 790,256 24 Itaipu transportation charges $7,429 51,598 54,765, 49 158,650 151,691, 46 Charge reserve energy - EER 31,126 21,08
Slide 6: Personnel and management costs
Personnel and management costs remained virtually stable, despite the 63.8% increase in the provision for profit sharing (PLR) due to the improvement in the Company’s results. Neutralizing the effects of the profit-sharing, “P” would have decreased 3.8% YoY due to the reduction of 551 employees LTM,
Slide 7: Operating costs and expenses in 9M19
In 9M19, operating costs and expenses totaled R$9,370.7 million, down 1.9%. The main reasons for this variation are (i) the 12.5% decrease in the cost of “electricity purchased for resale”, mainly due to the lower average PLD (R$211.86 in 9M19 vs. R$330.75 in 9M18) and Copel GeT’s energy allocation
Slide 8: 2.4 EBITDA
2.4 EBITDA In 3Q19, earnings before interest, taxes, depreciation, and amortization reached R$1,201.7 million, up 40.5% over the R$855.5 in 3Q18. This result is mainly explained by the non-recurring items referring to the net reversal of impairment provisions in the amount of R$102.6 million (relate
Slide 9: 9M19 EBITDA and Financial Result
In 9M19, EBITDA increased by 30.9% YoY. Excluding non-recurring effects, adjusted EBITDA increased by 23.9%. Excluding the effect of the equity pickup, EBITDA would be 31.0% higher than in 9M18. 2.5 Financial Result In 3Q19, the financial result was negative by R$134.3 million, compared to negative
Slide 10: 2.6 Consolidated Net Income
2.6 Consolidated Net Income In 3Q19, Copel posted net income of R$613.5 million, 42.4% higher than the R$430.9 million reported in the same period of 2018. The 9M19, net income was R$1,466.4 million, 28.4% higher than the R$1,142.1 million recorded in 9M18. 2.7 Consolidated Income Statement
Slide 11: Consolidated Income Statement
Lcomaiiaell sais 2019 3aie Var% amis OMe Var.% ry 2) ®) (2/3) @ 5) (4/5) (OPERATING REVENUES 14253,721 3,682,137 14,309,326 (3) 831,864 11263,67 50 Electricity sales to final customers 3,497,452 1,529,761 1,451,002 32 4,658,238 4070.11 aa Electricity sales to distributors 760,200 esa.73 #29217 (24)
Slide 12: Consolidated assets
— Sep-19 Dec-18 Sep-18 Var.% Var.% (y (2) (3) (1/2) (1/3) CURRENT 6,748,404 6,677,846 5,626,758 1a 19.9 Cash and cash equivalents 2,026,390 1,948,409 857,862 40 136.2 Bonds and securities 1,403 124,862 1,380 (98.9) 17 Collaterals and escrow accounts 125 203 73,795 (38.4) (99.8) Customers 3,037,616 2
Slide 13: Loans, financing and debentures maturities
Loans, financing and debentures maturities are presented below:
Slide 14: Endorsements and Guarantees
Endorsements and Guarantees Until September 30th, 2019, the Company had R$1,013.4 million in guarantees and endorsements, as shown below.
Slide 15: Consolidated net debt and net debt/EBITDA
Copel’s consolidated net debt (loans, financing and debentures less cash and cash equivalents) and the net debt/EBITDA ratio are shown in the following chart:
Slide 16: Net Debt by Subsidiary
Net Debt by Subsidiary The following table shows the gross debt and net debt of the subsidiaries:
Slide 17: Debt by subsidiary table
R$'000 GeT Dis Telecom Holding Other Total Total debt 4,943,890 1,963,714 652,878 1,907,000 1,470,686 10,938,168 Availability 569,020 761,190 213,025 85,211 759,969 2,388,415 Net debt 4,374,870 1,202,524 439,853 1,821,789 710,717 8,549,753 ‘Average Cost 6.60% 7.39% 9.91% 5.92% 7.39% 6.85% Duration (
Slide 18: Lawsuits classified as possible losses
The lawsuits classified as possible losses (those that are not provisioned in the balance sheet), as estimated by the Company and its controlled companies at the end of September 2019, totaled R$2,990.2 million, 2.0% lower than amount registered in December 2018 (R$3,052.7 million), distributed in l
Slide 19: Consolidated liabilities
sical Sep-19 Dec-18 Sep-18 Var.% Var.% (a) (2) (3) (1/2) (1/3) CURRENT 4,868,679 6,695,114 7,288,336 (27.3) (33.2) Payroll, social charges and accruals 301,175 284,179 393,517 6.0 (23.5) Suppliers 1,664,925 1,419,243 2,143,297 173 (22.3) Income tax and social contribution payable 133,209 197,949 237
Slide 20: Copel GeT adjusted EBITDA
Excluding the extraordinary effects listed below, Copel GeT’s Adjusted EBITDA increased by 18.4% in 3Q18. Excluding the effects of the equity pickup, adjusted EBITDA would be of R$512.6 million in 3Q19, up 55.0% vs. R$330.7 million in 3Q18.
Slide 21: Copel GeT net income
In the third quarter of 2019, Copel GeT posted a net income of R$386.7 million, up 43.6% vs. the R$269.4 million in 3Q18.
Slide 22: Copel GeT nine-month results
In the first nine months of 2019, Copel GeT registered an operating revenue of R$2,928.9 million, up 7.8% YoY, while operating costs and expenses had a 13.2% decrease, totaling R$1,404.9 million in the period. Net income reached R$840.1 million and EBITDA totaled R$1,932.8 million, an increase of 14
Slide 23: Copel Distribuição variations
The following variations are also noteworthy: (i) 72.5% increase in “charges of the main distribution and transmission grid”, mainly due to the tariff increase and the increase in charges on transmission infrastructure made available to new generation projects beginning in 2019, in addition to the e
Slide 24: Copel Distribuição net income and EBITDA
Net income was of R$163.7 million in 3Q19, up 30.6% vs. R$125.4 million YoY. In 9M19, Copel Distribuição had an EBITDA of R$948.0 million, up 52.0% over 9M18, mainly due to: (i) the 14.7% increase in “use of the main distribution and transmission grid”, mainly due to the TUSD adjustments (16.42% on
Slide 25: 4.3 Copel Telecomunicações
4.3 Copel Telecomunicações Copel Telecom had a negative EBITDA of R$87.5 million in 3Q19, vs. a positive R$43.9 million in 3Q18, mainly due to the recognition of impairment, in the amount of R$81.0 million, and write-offs and remeasurement of amounts arising from the deactivation of telecommunicatio
Slide 26: Copel Telecom personnel costs
Personnel and management accounts totaled R$14.8 million in 3Q19, a 14.5% decrease over 3Q18, reflecting the salary policy applied by the company and the Voluntary Redundancy Program (PDI) ended December 2018 reduction of 63 employees in the last 12 months.
Slide 27: Copel Telecom net operating revenue
Net operating revenue in 3Q19 reached R$102.2 million, down 1.2% over 3Q18, mainly explained by the 0.9% decrease in telecommunications revenues due to the decreased number of telecommunications customers in retail. The quarter’s result is a loss of R$75.9 million. The following table presents the m
Slide 28: Copel Telecom 9M19 and Copel Comercialização
In 9M 2019, net operating revenues increased by 1.1% YoY, mainly due to the increase in the customer base, partially offset by impairment, in the amount of R$81.0 million, and the write-offs and remeasurement of amounts resulting from the deactivation of telecommunications assets, in the amount of R
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$0.6 million, compared to positive R$11.3 million in 3Q18.
Slide 30: Copel Energia 9M19 and accounting information
In 9M19, Copel Energia reported an EBITDA of R$105.8 million, compared to a negative R$4.9 million in 3Q18, explained by the effect of R$99.2 million on the calculation of fair value in the purchase and sale of energy and the 33.6% increase in the volume of energy sold. 4.5 Accounting Information Ac
Slide 31: 5. Investment Program
5. Investment Program The following chart shows the investment program carried out in 3Q19 and scheduled for 2019:
Slide 32: Investment program by company (R$ million)
RS million Salley (aoe Carried Carried Scheduled? Scheduled 9m19 3Q19 2019 2020 Copel Geracao e Transmissdo 600.4 136.8 977.5 865.2 HPP Colider 137.9 44 59.3 80.5 HPP Baixo Iguacu” 10.0 44 18.1 25.8 TL Curitiba Leste-Blumenau 110.7 39.5 196.1 125.5 TL Ibipor-Londrina (Contract 060/2001) - - 0.0 58.5
Slide 33: 6.2 Grid Market (TUSD)
For more details visit the Notice to the Market - IR 25/19 ( link ). 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
Slide 34: Free market consumption growth
The result was mainly due to the 6.6% growth in free market consumption in 3Q19, as a result of the increase in Paraná's industrial production - growth of 5.0% and 2.3% in July and August 2019, respectively. The sectors that contributed the most to the increase in energy consumption were food manufa
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 12,806 GWh in the third quarter of 2019, an increase of 12.0%. The following table illustrates the total energy sales b
Slide 36: 6.5 Energy Flow
6.5 Energy Flow Energy Flow – Copel Dis
Slide 37: Energy Flow - Copel Dis
GWh Energy Flow - Copel Dis 3Q19 3Q18 Var. % 9m19 omg Var. % Itaipu 1,386 1,444 (4.0) 4,145, 4,284 (3.2) CCEAR ~ Group Companies 37 21 76.2 114 64 78.1 CCEAR ~ Other 3,123 2,669 17.0 9,209 7,933, 16.1 CCEE (MCP) 2 2 : z 18 2 Angra 246 254 (3.a) 734 755 (2.8) cCGF 1,564 1,611 (2.9)) 4,681 4877 (4.0)
Slide 38: Energy Flow - Copel GeT
Gwh Energy Flow - Copel GeT 3Q19 3Q18 Var. % 9mM19 9M18 Var. % Own Generation (net of losses) 4,737 3,227 46.8 13,964 12,571 111 Dona Francisca 35 35 105 105 Copel Comercializagdo 155 180 (13.9) 155 180 (13.9) MRE Receipt 3 142 (97.9) 96 142 (32.4) Total Available Power 4,930 3,584 37.6 14,320 12,99
Slide 39: Energy Flow – Copel Comercialização
Energy Flow – Copel Comercialização
Slide 40: Energy Flow - Copel Com
GWh Energy Flow - Copel Com 3Q19 3Q18 Var. % gmi9 ois Var. % Copel GeT 1,405 269 422.3 3,757 1631 1303 Other 983 1,614 (39.1) 2,497 3,074 (18.8) CCEE (MCP) 1 2 (50.0) 34 2) 1,580.6 Total Available Power 2,389 1,885 26.7 6,287 4,707 33.6 Free Customers 710 552 28.6 1,991 1,496 33.1 Bilateral Agreemen
Slide 41: 6.6 Tariffs
6.6 Tariffs Sales to Distributors Average Tariff (CCEARs) – Copel Geração e Transmissão
Slide 42: Sales to Distributors Average Tariff
RS /MWh Tariff Amount Sep-19 Jun-19 Sep-18 Var. % Var. % Average MW (a) (2) (3) (1/2) (1/3) Copel Geracao e Transmissao 254) 196.23 | 194.12 217.97 1a (10.0) Auction CCEAR 2011 - 2040 ( HPP Maua) 100) 225.57 222.24 216.72 15 41 Auction CCEAR 2013 - 2042 (Cavernoso I!) 8 242.60, 240.17 232.99 1.0 4.1
Slide 43: Sales to Final Customers Average Tariff Copel Distribuição
Sales to Final Customers Average Tariff Copel Distribuição
Slide 44: 7. Capital Market
7. Capital Market 7.1 Capital Stock Copel’s capital amounts to R$10,800.0 million, consisting of 273,655 thousand shares, with no par value. In September 2019, the Company's capital was represented as follows:
Slide 45: Shareholder table by share class
Thousand shares Shareholders Common % Preferred % Preferred "B" % TOTAL % State of Parand 85,029 58.6 - : - : 85,029 31.0 BNDESPAR 38,299 26.4 : : 27,282 21.3 65,581 24.0 Eletrobras 1,531 1a : : : : 1,531 0.6 Free Floating 19,836 13.7 7 23.4 100,965 78.7 120,878 44.2 83 19,723 13.6 7 23.4 69,232 54.
Slide 46: Ownership charts
Common 58.6% 0.2% 13.7%, 1.1% 26.4% 1 State of Parana = BNDESPAR ® Eletrobras ® Free Floating Other 44.2% 0.6% — 0! Preferred 21.2% = BNDESPAR 0.2% if = Free Floating Other 78.6% 31.0% State of Parana = BNDESPAR © Eletrobras = Free Floating Other
Slide 47: Stock Performance (Jan - Sep/19)
Stock Performance (Jan - Sep/19) Common (CPLE3 / ELPVY) Preferred "B" (CPLEG / ELP / XCOP) Total Daily average Total Daily average Number of Trades 156,987 840 817,580 4,372 Volume Traded 34,557,600 184,800/ 168,982,700 903,651 ® Trading Value (R$ thousand) 1,443,130 7,717 7,149,054 38,230 Presence
Slide 48: Price / Points
Price / Points Ticker / Index Var. (%) 09.30.2019 12.31.2018 CPLE3 R$ 51.10 RS 29.80 715 B3 CPLE6 R$ 49.61 R$ 30.55 62.4 Ibovespa 104,745 87,887 19.2 ELP US$ 12.01 USS 7.83 53.4 NYSE Dow Jones 26,921 23,327 15.4 xCOP €11.10 €7.15 55.2 LATIBEX Latibex 2,350 2,184 76
Slide 49: 8. Operating Performance
8. Operating Performance 8.1 Power Generation Assets in Operation Copel Geração e Transmissão Below is the main information about Copel GeT’s power generating facilities and the power output in the nine first months of 2019.
Slide 50: TPP Figueira concession extension
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: Quota system power plants
sour ants uses ye Invtalad Asura Power | SSS PFOWETON REVERT Cg rag concession rower Plasrts~ Quota Syste Capacity (MW) (Average MW) gry (R$ million) Expires HPP Gov. Pedro Viriato Parigot de Souza (GPS)" 382.0 763 1237 574.8 01.05.2086 ©) proportional the energy allocated in the physical guarantee
Slide 52: Cutia Wind Complex and generation interests
Copel's largest wind complex, called Cutia Empreendimentos Eólicos, comprised of 13 projects divided into two large complexes (Cutia and Bento Miguel) with a total installed capacity of 312.9 MW, started operations in 2018. On September 20, 2019, according to Aneel Order No. 2,593 / 2019, the last t
Slide 53: 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 54: Under Construction
Under Construction Copel Geração e Transmissão Copel GeT is completing the construction of the last generating unit (of a total of three units) of the Colíder Hydroelectric Power Plant, as detailed in the sequence. In addition to HPP Colíder, in August 2018 Copel was granted the right to build SHP B
Slide 55: Colíder Hydroelectric Power Plant
Colíder Hydroelectric Power Plant On July 30, 2010, under Aneel New Energy Auction No. 003/2010, Copel GeT was awarded the concession to operate HPP Colíder for a term of 35 years, as of January 17, 2011, the signing date of the MME - HPP Colíder Concession Agreement No. 001/11. The project is compr
Slide 56: Assets under Construction
Assets under Construction Copel GeT is substantially increasing its share of the transmission segment through its own investment and partnerships in special purpose companies - SPCs. The projects sum up a total of 1,027 km of transmission lines and one substation and will generate an APR of R$160,0
Slide 57: 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 58: 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 59: 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 60: DEC and FEC indicators
DEC" FEC? Jan-Sep foal fontncesi Total time service (hours) 2015 9.42 5.85 2:27 2016 7.85 5.23 2:20 2017 7.33 4.99 2:39 2018 6.96 4.25 3:28 2019 6.73 4.40 3:14 T DEC measured in hours and hundredths of an hour 2 FEC expressed in number of interruptions and hundredths of a number of interruptions vea
Slide 61: 8.5 Equity Interests
8.5 Equity Interests Other Sectors Copel holds interests in companies in the gas, telecommunications, and service sectors, as shown below:
Slide 62: 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 343.4 MW of installed capacity to the Company's portfolio (in proportional to the Company’s stake in the enterprises).
Slide 63: A-6 auction and Jandaíra Wind Complex
On October 18, 2019, Copel participated in the A-6 new power generation auction and sold 14.4 average MW of the Jandaíra Wind Complex, which represents about 30% of the assured power of the future venture. The auction’s homologation process is still in progress. More information on the subject can b
Slide 64: Other Information: Human Resources
9 . Other Information 9.1 Human Resources Copel’s workforce closed 3Q19 at 7,513 employees distributed. The table below shows employee number trends in the Company and its subsidiaries in the last four years:
Slide 65: Customers per employee
At the end of September 2019, Copel Distribuição had 4,693,981 customers, representing a consumer-to-employee ratio of 887. Compagas, Elejor and UEG Araucária, companies in which Copel holds a majority interest, had 149, 07 and 16 employees, respectively.
Slide 66: 9.3 Conference Call 3Q19 Results
9.3 Conference Call 3Q19 Results Information about 3Q19 Results Conference Call: > Wednesday, November 13, 2019, at 10:00 a.m. (Brazilian time) > Telephone: (+1 646) 843-6054 > Code: Copel A live webcast of the conference call will be available at: ir.Copel.com Please connect 15 minutes before the c
Slide 67: Consolidated Cash Flow
R$'000 Consolidated Cash Flow omi9 omis Cash flows from operational activities Net income for the period 1,466,414 1,142,068 Adjustments to reconcile net income for the period with cash generated from operating activities 1,874,221 544,371 Depreciation and Amortization 739,377 554,548 Unrealized mon
Slide 68: Copel GeT income statement
Teves Selsineskl 30I9 2019 3018 Var% Mas oMas Var% a} 2) (3) (u/s) @ (5) (4/5) OPERATING REVENUES 985,589 941,760 953,901 33, 2,928,908 2,717,798 78 Electricity sales to final customers 182,505 172,379 177,483 28 520,950 484,148 76 Electricity sales to distributors 600,669 574,565 524,869 144) 1,780
Slide 69: Copel Distribuição income statement
income Statement 3019 2019 3ai8 Var.% omg ‘oMi8 Var.% () (2) (3) (4/3) “@ (5) (4/5) OPERATING REVENUES 2,693,963 2,334,856 2,942,462 (8.4) 7,585,419 7,627,077 (05) Electricity sales to final customers 1,172,580 1,228,670 1,161,200 10 3,750,552, 3,297,975 137 Electricity sales to distributors 123,260
Slide 70: Copel Telecom income statement
eexeaseasasat 3039 2019 3ai8 Var.% Mis ‘oMas Var% re Q) 3) (a3) Oy (9) (4s) NET OPERATING REVENUES 102,212 101,510 103,442 (12| 319,074 315,460 aa Revenues from telecommunications 101,641 100,185, 102,547 (09) 315,583 294,985 70 Other operating revenues S71 1,324 895 (36.2) 3491 20,475 (82.9) ‘OPERA
Slide 71: Copel Comercialização income statement
eens 3009 2019 3ai8 Var% oma omg Var% (a @ (3) (2/3) 4 (5) (4/5) OPERATING REVENUES 534,791 384,785 437,368 223) 1,288,174 966,089 33.3 Electricity sales to final customers 143,275 129,646 113,397 263 389,585 290,728 340 Electricity sales to distributors 308,489 250,232 323,746 (47) 798,651 674,719
Slide 72: Assets by subsidiary - Sep-19
sasets- sep Geraio® cyano Telecom Compagas_—‘lejor_-—-UEGAraucifia. Comerliazto Windrams SOHAONISPE —seiing minatons consolidated CURRENT 1,271,689 3,950,983 291,670 221,470 70,275 22,775 250,451 $05,451 23,901, ‘$23,406 (383,667) 6,748,404 Cash and cash equivalents 465,980 659,471 213,025 122,890 4
Slide 73: Assets by subsidiary - Dec-18
Assets-Dec18 weet” custo Telecom = Compagas.—“Elejor,«UEG Armcila Comercio Holding tliminations Consolidated (CURRENT 1,487,257 3,971,915 (88,239 204,725 80,990 33,573 181,077 1,170,320 (1,022,830) 6,677,846 Cash and cash equivalents 473498 | _634,308 19.208| 90355, 4aaas| _21,s16 12,399 315,003 re)
Slide 74: Liabilities by subsidiary - Dec-18
R$‘000 Costa Oeste SPC abilities - Dec/18 ees) Distibuigso Telecom Compagas Elejor UEG Araucétia Comercializagso Wind Farms SOR OSNEC™. Holding Eliminations Consolidated ‘CURRENT 2,640,071, 2,489,317 13,667 133,768 124,880 42,185 137,337 386,450 15,481 1,435,888 (4,023,931) 6,695,114 Social charges
Slide 75: Liabilities by subsidiary - Sep-19
unites Sep stm —cutuedo Telecomm —=compagas.«—=sor, «UES Amica comenalinagio windForms <SOBAO%*SPC usage cninatlons _coneidtnd consent sasrine| war mie | a0 wazs a7a5 | meee] aoe oa woz] ea.zan]—_aenere Soda cages and uals 73a vs 3333 ‘a7 02 2att 2 a ea ss MLays Associated companies and parent compa
Slide 76: Income Statement 3Q19 by subsidiary
R$'000 Geracio e Transmissio Income Statement 3019 Telecom Compagas. Elejor —-UEG Araucéria. Comercializagso. Other! Holding Consolidated Generation Transmission NET OPERATING INCOME 704,132 186,717 | 2,693,962 102,212 297,081, 42,973 398 92,399 14,561 : (415,505) 4,253,721 Electricity sales to fina
Slide 77: Income Statement 3Q18 by subsidiary
R5'000 Gerardo e Transmissio Income Statement 3018 Distribuigio Telecom =——_Compagas Elejor UEG Araucérla Comercializag3o Other! Holding Consolidated Generation Transmission comand NET OPERATING INCOME 640,682 204,536 | 2,982,462 103,442 172,78 74,402 225 437,368 7377 : (380,436), 4,309,126 Electric
Slide 78: Income Statement 9M19 by subsidiary
R$'000 Geragio.e Transmissio Costa Oeste a. Income Statement 9M19 Distribuigso Telecom = Compagas Elejor —UEG Araucéria Comercializagio. Wind Farms SPC and Holding pegueig, Consolidated Generation Transmission Marumbi SPC NET OPERATING INCOME 2,066,482 584,708 | 7,585,418 319,074 668,088 168,120 398
Slide 79: 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 November 12, 2019 COMPANHIA PARANAENSE DE ENERGIA – COPEL By: / S / Daniel Pimentel Slaviero Daniel