Companhia Paranaense de Energia - COPEL (ELP) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 12, 2022 1:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen. Welcome to Companhia Paranaense de Energia - COPEL'S Conference Call to discuss the Results of the First Quarter of 2022. This call is being recorded and the replay may be accessed at the company's website ir.copel.com, where the presentation is also available for download. All participants will be in listen-only mode during the conference and later we will have a Q&A session, when further instructions will be given.

Before proceeding we reiterate that forward-looking statements are based on the beliefs and assumptions of Copel's management and on information currently available to the company. Such statements may involve risks and uncertainties as they refer to future events and therefore depend on circumstances that may or may not occur. Investors, analysts and journalists should take into account that event related to the macroeconomic environment to the industry and other factors may lead results to be different from those expressed in such forward-looking statements.

Today with us we have Mr. Daniel Pimentel Slaviero, CEO of Copel; and Mr. Adriano Rudek de Moura, CFO of Copel and other officers of the company and of subsidiaries as well.

Now I would like to give the floor to Mr. Daniel Slaviero. You may proceed.

Daniel Pimentel Slaviero

Hello. Good afternoon. I thank you very much for participating in our video conference. And I'll start the presentation with the pleasure of sharing the delivering of another quarter with sound operating results and where I highlight the record BRL 1.5 billion EBITDA representing a growth of over 12% quarter -- year-on-year and the net income of BRL 670 million and the powerful cash generation of BRL 1.5 billion. And even without the extraordinary effects, we expect that it didn't change our EBITDA, we had the best result of the company's history for a third quarter with BRL 1.460 billion.

We started well the year, but we are aware that we have challenging months ahead of us, because of the macroeconomic situation, the hike in interest rates and also the commodity prices. These results encourage us to further our strategy with the main object of creating value for Copel for shareholders, our clients and all stakeholders.

Before going to the next slide I would like to highlight that in line with the proposal of the company's management and our dividend policy. We approved that the last shareholders meeting the payment of BRL 1.7 billion in earnings to shareholders to be paid by the end of July this year, referring to the remaining balance of BRL 3.1 billion of dividends referring to 2021. The highest dividend ever paid by the company and with the dividend yield a little bit more than 16%.