Copel records EBITDA of R$1,006.1 million in the 1Q17

May 16, 2017 - (Newswire)

- Companhia Paranaense de Energia - Copel (NYSE: ELPVY, ELP / Latibex: XCOP / BM&FBovespa: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announced its results for the first quarter of 2017.

Copel reported an EBITDA of R$1,006.1 million in the 1Q17, 87.2% higher than the R$537.4 million recorded in the 1Q16, mainly due (a) the recognition of R$224.6 million concerning the remeasurement of transmission assets (RBSE), (b) the result of the distributor's 4th tariff review cycle, in June 2016, plus the 3.5% increase in the grid market, (c) the reduction in the cost of electricity purchase from Itaipu, as a result of the dollar's lower exchange rate, and (d) the 36.1% decrease in charges of the mains transmission and distribution grid, due to the smaller dispatch outside the order of merit. In the 1Q17, Copel reported a net income of R$417.3 million vs. R$136.1 million in the 1Q16.

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

Conference Call: May 16, 2017 - Tuesday


9:00 a.m. - New York Time

Dial in number:


Access Code: Copel

(Simultaneous translation into English)

Live webcast at www.copel.com/ir

Contacts: Investor Relations - COPEL
Phone: (55 41) 3222-2027
E-mail: ri@copel.com


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Original Source: https://www.newswire.com/news/copel-records-ebitda-of-r-1-006-1-million-in-the-1q17

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