6-K 1 elppr4q07_6k.htm EARNINGS RELEASE 4Q07 Provided By MZ Data Products
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
FORM 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
 
For the month of March, 2008

Commission File Number 1-14668
 

 
COMPANHIA PARANAENSE DE ENERGIA
(Exact name of registrant as specified in its charter)
 

Energy Company of Paraná
(Translation of Registrant's name into English)
 

Rua Coronel Dulcídio, 800
80420-170 Curitiba, Paraná
Federative Republic of Brazil
(5541) 322-3535
(Address of principal executive offices)
 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

Yes _______ No ___X____



FOR IMMEDIATE RELEASE


RESULTS OF 2007

Curitiba, Brazil, March 17, 2008 – Companhia Paranaense de Energia - COPEL (NYSE: ELP / LATIBEX: XCOP / BOVESPA: CPLE3, CPLE5, CPLE6), a company that generates, transmits and distributes power to the State of Paraná, announces its results of 2007. All figures included in this report are in Reais and were prepared in accordance with Brazilian GAAP (corporate law method).

HIGHLIGHTS 
  • COPEL’s consolidated financial statements present, in addition to the figures of the wholly-owned subsidiaries (COPEL Geração e Transmissão, COPEL Distribuição, COPEL Telecomunicações and COPEL Participações), those of Compagas, Elejor, UEG Araucária and Centrais Eólicas do Paraná (companies in which Copel retains a majority stake).

  • Net operating revenues for 2007: R$ 5,422 million – an increase of 10.9% compared to 2006. In the 4Q07, net operating revenues were R$ 1,434 million.

  • Operating income for 2007: R$ 1,629 million. In the 4Q07, operating income was R$ 437 million.

  • Net income year-to-date: R$ 1,107 million (R$ 4.04 per share). Net income in the 4Q07 alone was R$ 312 million (R$1.14 per share).

  • EBITDA (earnings before interest, taxes, depreciation and amortization): R$2,029 million in 2007. In the 4Q07, EBITDA was R$ 518 million.

  • Return on net equity: 15.3%.

  • Total power consumption billed by COPEL in 2007 rose 6.8% over the figure for the same period last year.

  • During the 2007, COPEL’s shares appreciated at the following rates:

CPLE3 (common/Bovespa) = 37.2%
CPLE6 (preferred B/Bovespa) = 7.2%
ELP (ADR/NYSE) = 29.5%
XCOP (preferred B/Latibex) = 18.3%

Investor Relations – COPEL
ri@copel.com

www.copel.com/ri

1


Companhia Paranaense de Energia – COPEL
2007 Earnings Release

1. MAIN EVENTS 

Dividends and Interest on Capital: A proposed distribution of R$ 200 million as interest on capital and of R$ 67,8 million as dividends, amounting to R$ 267,8 million for 2007, will be submitted to the General Shareholders' Meeting, which will take place in April 2008.

Power Consumption by Customer Category: Total power consumption billed by COPEL grew 6.8% in 2007. The following variations were recorded in the consumption of the Company’s main customer categories: residential 6.6%; commercial 9.2%; industrial (captive and free customers), 7.5%; and rural 6.3% .

The following charts feature the monthly power consumption billed by COPEL from 2005 to 2007:

COPEL Transmission’s Split off: In compliance with the power sector legislation and with Authorization Resolution 1.120/07, on December 1, 2007, COPEL Transmission was split; the assets rated 69 kV and 138 kV were transferred to COPEL Distribution, and the assets rated 230 kV or higher were transferred to COPEL Geração, whose name was changed to COPEL Geração e Transmissão S.A.

COPEL Corporate Partnership’s Split off: On November 27, 2007, COPEL Corporate Partnerships, aiming to simplify its shareholding structure and to cut costs, requested ANEEL authorization to transfer its assets and liabilities in connection with power generation and transmission consortia to COPEL Geração e Transmissão and all other interests to the COPEL holding company. The split is still under review by ANEEL, which has indicated it is in favor of this operation, through Letter no. 1,940/2007-SFF/ANEEL.

2


CSI – Bovespa’s Corporate Sustainability Index: COPEL continues to be part of Bovespa's Corporate Sustainability Index (CSI). The new portfolio was launched on December 1, 2007, and will be in effect for one year.

Acquisition of Sanedo's Shares of Dominó Holdings: On January 14, 2008, COPEL acquired Sanedo’s interest in Dominó Holdings S.A., which corresponded to 30% of its stock, for R$ 110 million. COPEL now holds a 45% stake in Dominó Holdings, which, in turn, holds 34.7% of the voting stock of Sanepar (the Sanitation Company of Paraná).

Top of Mind Award: COPEL won the Top of Mind Award for the seventh consecutive time and also won two other special awards. These awards are sponsored by the Amanhã Magazine and by Instituto Bonilha and highlight the brands and services most remembered by the people of State of Paraná since 1995.

International Praise: COPEL was praised by Morley Fund Management, one of the largest investment funds managers in the world, for being a member of the United Nations’ Global Compact, which attests to the Company’s serious commitment to corporate responsibility practices.

Largest and Leading Companies: COPEL is among the largest companies in Southern Brazil, according to a survey conducted by Amanhã Magazine and PriceWaterhouseCoopers. Companies were ranked according to a weighted average of their shareholders' equity, their gross revenues and their net results.

COPEL is honored by Bovespa: The main indicator of the Brazilian stock market's “temperature”, the Bovespa (São Paulo Stock Exchange) Index, has just reached its 40-year anniversary. To celebrate this date, all 58 companies which are part of the index, including COPEL, were honored during the January 30 trading session. COPEL’s shares, which are traded at Bovespa since April 1994, became part of the Ibovespa in September 1999.

2. HUMAN RESOURCES 

COPEL closed 2007 with a total of 8,347 employees, distributed as indicated below among the Company’s wholly-owned subsidiaries:
        COPEL Geração e Transmissão = 1,510 employees
        COPEL Distribuição = 6,476 employees
        COPEL Telecomunicações = 332 employees
        COPEL Participações = 29 employees

By the end of 2007, COPEL had a customer-to-employee ratio of 531:1 at the Distribuição subsidiary.

Compagas, Elejor and UEG Araucária, companies in which COPEL is a majority shareholder, had 85, 6 and 3 employees, respectively.

3


3. OPERATING PERFORMANCE 

Energy Consumption:

Total energy consumption billed by COPEL (the captive market, the supply to distributors in the State of Paraná served by COPEL Distribuição, plus the free customers served by COPEL Geração e Transmissão) totaled 20,458 GWh in 2007, an increase of 6.8% over the prior year.

This performance was chiefly due to the following factors:
(i) the higher average temperatures in 2007 in relation to the previous year;
(ii) the growth in average income levels due to the higher minimum wage and greater availability of credit (drop in interest rates) and their effects on the residential and commercial segments;
(iii) the improvement in the industrial market driven by the recovery in crop output and higher exports in some sectors; and (iv) the creation of 122,000 new formal jobs in the State of Paraná, resulting in a 6,6% increase in the total number of formal jobs in relation to yearend 2006 (the best result in Brazil’s South Region).

Residential consumption, which accounts for 25.7% of Copel’s market, rose by 6.6% in 2007, posting its best performance of the past ten years. Average consumption per residential customer was 157.9 kWh/month, 3.6% higher than reported in the previous year and the highest level since the electricity rationing in 2001.

Consumption by the industrial segment, including all free customers supplied by COPEL Geração e Transmissão, accounted for 38.7% of Copel’s market, up by 7.5% over 2006. The industrial captive market grew 4.3%, while the free market expanded by 24.0% . This result confirms the better performance of the economy of the State of Paraná, which reflects the combination of positive results in the agribusiness, industrial and service sectors. State exports grew by 23.3%, led by soybean, corn, car and poultry sales.

The commercial segment, which accounted for 18.6% of COPEL’s market, registered the best performance among consumption classes, growing by 9.2% . The commercial segment has benefited from higher levels of available income and has been expanding the number of units with high consumption profiles, such as supermarkets and shopping malls.

The rural segment posted growth in electricity consumption of 6.3% in 2007, accounting for 7.6% of COPEL’s billed supply. This level of growth reflects the recovery in farming activities, as shown by soybean and corn production, which according to the Brazilian Institute of Geography and Statistics (IBGE), places the State of Paraná as Brazil’s largest in 2007.

4


Consumption per Segment

                            GWh 
Segment    4Q07    3Q07    4Q06    % Var.    2007    2006    % Var. 
    (1)   (2)   (3)   (1 / 2)   (4)   (5)   (4 / 5)
Residential    1,316    1,270    1,243    3.6%    5,143    4,826    6.6% 
Industrial    1,618    1,622    1,519    -0.2%    6,278    6,021    4.3% 
Commercial    956    891    877    7.3%    3,721    3,407    9.2% 
Rural    390    353    354    10.5%    1,522    1,431    6.3% 
Other    473    462    459    2.4%    1,858    1,826    1.8% 
Total Captive Customers    4,753    4,598    4,452    3.4%    18,522    17,511    5.8% 
Free Customers – Copel Geração e                             
Transmissão    406    348    260    16.7%    1,462    1,179    24.0% 
Total Supply to Final Customers    5,159    4,946    4,712    4.3%    19,984    18,690    6.9% 
Wholesale – State of Paraná    120    120    116    0.0%    474    458    3.5% 
TOTAL    5,279    5,066    4,828    4.2%    20,458    19,148    6.8% 

COPEL Distribution’s Grid Market:

COPEL Distribuição grid market (TUSD), comprising the captive market and all free customers within the Company’s concession area in the State of Paraná, increased by 5.9% in 2007.

                                   GWh 
Market    4Q07    3Q07    4Q06    % Var.    2007    2006    % Var. 
    (1)   (2)   (3)   (1 / 2)   (4)   (5)   (4 / 5)
Grid Market (TUSD)   5,769    5,539    5,331    4.2%    22,255    21,012    5.9% 

4. FINANCIAL PERFORMANCE 

The results presented for the years 2006 and 2007 were affected by the following factors:

1st – Reversion pertaining to the natural gas contract, which caused a positive net effect of R$ 416.4 million on net income in 2006;

2nd – Reversion pertaining Cofins on the sale of electric power from June 1999 to June 2001, which had a positive impact of R$130.4 million on net income for 2006.

3rd - Reversion pertaining to the agreement on power acquired from CIEN that caused a positive net income of R$ 60.4 million on net result in 2007;

4th - Reversion of the Pasep and Cofins provision calculated on the Petrobras contract, which caused a positive net income effect of R$ 19.7 million on net income for 2007; and

5th - Provision pertaining to the non-collection of Cofins on the sale of electric power from June 1999 through June 2001, which had a negative net income effect of R$112.5 million on net income in 2007.

5


Main reversions and provisions

        R$ million 
    2006    2007 
1st Reversion – natural gas contract    416.4   
2nd Reversion – Cofins    130.4   
3rd Reversion – Cien      60.4 
4th Reversion – Pasep/Cofins      19.7 
5th Provision – Cofins      (112.5)
      Net income effect    546.8    (32.4)

Revenues

In 2007, net operating revenues stood at R$5,422.1 million, an amount 10.9% higher than the R$ 4,888.6 million registered in 2006.

This increase was chiefly due to the following facts:

(i) an increase of 7.4% in retail revenue due to growth in the total market (6.8% in 2007), in addition to tariff adjustments in June 2006 and June 2007.

(ii) a 5.9% increase in energy supply revenue from January 2007, due to new sales contracts at the second existing energy auction (81 MW average for 2007-2014) and to the readjustment of current contracts and revenue from energy provided by UEG Araucária, in the amount of R$ 85.6 million, offset by the decline in the electric power available in the Electric Power Trade Chamber (CCEE);

(iii) a 2.8% increase in revenue from grid availability chiefly due to Copel’s distribution grid (TUSD);

(iv) an increase of 10.1% in telecommunications revenue, due to service to new clients as well as to increased volume of services provided to existing clients;

(v) a 7.5% increase in gas sale revenue stemming from the expansion of third-party gas distribution operations and to the tariff readjustment in the period; and

(vi) a 193.4% increase in other operating revenue due, mainly, to revenue from the leasing of UEG Araucária to Petrobras, in the amount of R$ 79.1 million, and to revenues from the provision of operation and maintenance (O&M) services, in the amount of R$ 26.1 million.

6


Gross Revenue

    R$ ‘000 
    4Q07    3Q07    4Q06    Var. %    2007    2006    Var. % 
       (1)    (2)      (3)   (1 / 2)    (4)    (5)   (4 / 5) 
Residential    -541,502    467,752    -573,387    -215.8%    876,287    847,444    3.4% 
Industrial    -436,284    506,207    -412,077    -186.2%    985,685    874,809    12.7% 
Commercial    -353,955    299,930    -347,931    -218.0%    570,418    524,875    8.7% 
Rural    -69,657    56,921    -74,657    -222.4%    113,720    109,057    4.3% 
Other segments    -127,851    112,253    -134,920    -213.9%    207,675    202,296    2.7% 
Net charges' installment readjustment    -6,105          -6,105     
Electricity sales to final customers    -1,535,354    1,443,063    -1,542,972    -206.4%    2,747,680    2,558,481    7.4% 
Electricity sales to distributors    327,607    352,869    355,078    -7.2%    1,367,595    1,290,976    5.9% 
Use of transmission grid    3,103,783    75,834    3,002,373    3992.9%    3,316,963    3,225,414    2.8% 
Telecom revenues    17,309    16,754    19,042    3.3%    63,893    58,054    10.1% 
Piped gas distribution    59,499    65,408    62,132    -9.0%    244,080    227,081    7.5% 
Other    70,415    76,602    15,359    -8.1%    179,883    61,320    193.4% 
Gross Operating Revenues    2,043,259    2,030,530    1,911,012    0.6%    7,920,094    7,421,326    6.7% 

The “electricity sales to final customers” registered in the 4Q07 and 4Q06 was negative due to the Copel’s distribution grid tariff (TUSD) reclassification, to the account “use of transmission grid”.

Deductions from Operating Revenues

The following table shows the legal deductions from COPEL’s operating revenues:

    R$ ‘000 
Revenue deductions    4Q07    3Q07    4Q06    Var. %    2007    2006    Var. % 
   (1)    (2)    (3)   (1 / 2)    (4)    (5)   (4 / 5)
ICMS    390,781    377,001    358,728    3.7%    1,507,882    1,428,729    5.5% 
PASEP/COFINS    122,519    129,314    128,951    -5.3%    506,442    547,314    -7.5% 
RGR    16,210    16,210    15,623    0.0%    61,105    57,927    5.5% 
CDE    47,229    45,306    46,042    4.2%    184,294    165,676    11.2% 
CCC    17,596    33,370    89,039    -47.3%    179,071    278,052    -35.6% 
P&D and PEE    14,135    14,223    10,581    -0.6%    56,347    52,265    7.8% 
Other    871    1,062    482    -18.0%    2,827    2,748    2.9% 
TOTAL    609,341    616,486    649,446    -1.2%    2,497,968    2,532,711    -1.4% 

Net Operating Revenue

    R$ ‘000 
    4Q07    3Q07    4Q06    Var. %    2007    2006    Var. % 
    (1)   (2)   (3)   (1 / 2)   (4)   (5)   (4 / 5)
Net Operating Revenue    1,433,918    1,414,044    1,261,566    1.4%    5,422,126    4,888,615    10.9% 

7


Operating Costs and Expenses

In 2007, total operating costs and expenses were R$ 3,814.8 million, 16.1% higher than the R$ 3.285,2 million registered in 2006. The highlights were:

0.7% decline in energy purchased for resale especially due to the agreement established with CIEN, reducing contracted energy from 400 average MW to 175 average MW in 2007. Due to this agreement, charges related to previous quarters were also canceled, which represented a reversal of R$ 100.9 million occurred in the 1Q07. The main amounts booked in this account were: R$ 385.4 million from ITAIPU, R$ 111.2 million from CIEN, R$ 98.2 million from Itiquira and R$ 845.1 million from the energy auction and R$142.7 million from other sources. In addition, R$ 52.3 million was booked as passive CVA.


A total of R$ 514.5 million in the “use of transmission grid”, chiefly due to the decline in CVA booked in the period.

The personnel line came to R$ 649.7 million in 2007, 1.2 % higher than the figure registered last year. This increase was basically due to the salary readjustment of 3.5% applied in October 2006 and 5.5% applied as of October 2007.

The variation in the “pension plan and other benefits” category reflects the appropriation, in June 2007, of the value defined in the actuarial report for 2007, which registered a surplus for 2007. Pension plan and other benefits are estimated at R$14.0 million for 2008, according to the actuarial criteria of CVM Resolution 371/2000.

Material costs declined by 6.8% relative to 2006, reflecting mainly, a decrease in material purchases for the electric system.

Raw material and supply for electric power production” reflects fuel and other supplies acquired from third parties. The surplus recorded in 2007 reflects the booking of the reversal, in the amount of R$29.9 million, related to Pasep and Cofins incurred on the natural gas amounts traded with Petrobras. In 2006, a sum of R$ 298.1 million was reverted due to the agreement between Copel, Petrobras and Compagas pertaining to natural gas for UEG Araucária.

The line “natural gas and supply for the gas business” refers to the natural gas acquired by Compagas from Petrobras. The 25.3% decline resulted mainly, from the decline in the purchase of gas by Compagas and the effects of the drop in the U.S. dollar.

8


The 6.2% rise in “third-party services” was mainly due to higher grid and electric power system maintenance expenses.

The 13.3% increase in “depreciation and amortization” was due to the entry of new fixed assets in use (the Fundão Hydroelectric Plant and distribution assets) and by the UEG Araucária merger, the consolidation of which began in June 2006.

In 2007, the “provisions and reversals” line was mainly composed of the Cofins provision (R$171.6 million), provisions for tax contingencies (R$36.6 million) and labor provisions (R$14.4 million).

The 24.7% increase in “expenses recoverable” was largely due to the recovery of charges related to the use of the transmission grid and higher recovery of material for the electric system.

The 26.4% increase in “other operating expenses” was mainly due to the increase in financial compensation for the use of water resources and concession charges – Aneel grant.

Breakdown of Operating Costs and Expenses

                            R$ ‘000 
Operating Expenses    4Q07    3Q07    4Q06    % Var.    2007    2006    % Var. 
   (1)    (2)    (3)   (1 / 2)    (4)    (5)   (4 / 5)
Energy purchased for resale    387,822    383,899    377,458    1.0%    1,429,417    1,439,744    -0.7% 
Use of transmission grid    98,415    113,048    125,634    -12.9%    514,450    534,780    -3.8% 
Personnel    238,996    136,244    235,608    75.4%    649,717    641,885    1.2% 
Pension plan and other benefits    -21,281    18,608    19,239    -214.4%    -13,851    73,010    -119.0% 
Material    16,037    14,006    18,419    14.5%    63,218    67,858    -6.8% 
Raw material and supply for electric power production    7,774    -23,128    4,112    -133.6%    -8,954    -280,579    -96.8% 
Natural gas purchase for resale    30,493    35,815    63,282    -14.9%    132,726    177,702    -25.3% 
Third-party services    76,080    58,386    62,599    30.3%    240,942    226,779    6.2% 
Depreciation and amortization    105,714    106,496    97,537    -0.7%    422,049    372,395    13.3% 
Expenses recoverable    -17,658    -11,628    -9,676    51.9%    -53,196    -42,644    24.7% 
Provisions and reversals    34,814    207,117    -186,266    -83.2%    242,435    -80,668    -400.5% 
Other operating expenses    64,285    40,417    43,462    59.1%    195,893    154,960    26.4% 
TOTAL    1,021,491    1,079,280    851,408    -5.4%    3,814,846    3,285,222    16.1% 

9


EBITDA

EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 2,029.3 million in 2007, 2.7% higher than the figure presented last year (R$ 1,975.8 million). In 4Q07 alone, EBITDA was R$ 518.1 million.

Financial Result

Financial revenue in 2007 stood at R$ 396.0 million composed mainly by financial investments (R$ 144.4 million), interest and monetary variation on the transfer of CRC to the State of Paraná (R$167.5 million) and arrears on electricity bills (R$46.5 million). The decline relative to 2006 is mainly due to the booking in the present year of two non-recurring events: a discount in the debt renegotiation with Petrobras regarding gas for UEG Araucária (R$ 283.2 million) and gains from derivative operations (R$ 22.4 million).

Financial expenses totaled R$375.8 million in the period, 23.2% down on the previous year. This result mainly reflects the appreciation of the real of 20.7% against the U.S. dollar and the booking, in 2006, of contractual charges due to the Copel Foundation (R$54.7 milllion), which were no longer booked as of 2007 due to changes in criteria.

Equity Investment

The result recorded in 2007 was due to the booking of equity income, dividends and interest on equity from associated and subsidiary companies, in the amount of R$8.8 million, added to interests in other companies, in the amount of R$0.7 million, offset by goodwill amortization of R$7.9 million.

Operating Result

For 2007, COPEL’s operating result was R$ 1,629.1 million.

Non-operating Income

This period’s non-operating income reflects basically the net effect of the disposal of property and rights from the permanent assets and the disposal of studies and projects.

Net Income

In 2007, COPEL’s net income was R$ 1,106.6 million, equal to R$ 4.04 per share. Net income for just the 4Q07 was R$ 312.2 million (R$1,14 per share).

10


Assets

As of December 31, 2007, COPEL’s total assets came to R$ 12,360.0 million, an amount 3.6% higher than the figure at the end of 2006.

COPEL’s 2007 investments (considering only the fully owned subsidiaries) totaled R$ 515.2 million, with R$ 28.3 million in power-generating projects, R$ 74.2 million in transmission projects, R$ 380.1 million in distribution works, R$ 31.6 million in telecommunications and R$ 1 million in partnerships.

Compagas, Elejor and UEG Araucária (whose balance sheet is consolidated with COPEL’s) invested R$ 13.8 million, R$ 0.5 million and R$ 0.9 million, respectively, during the period.

Liabilities and Shareholders’ Equity

COPEL’s consolidated debt at the end of 2007 was R$ 2,102.5 million, representing a debt/equity ratio of 29.1% . Excluding Elejor’s and Compagas’ debts, debt/equity ratio would be 23.6% .

Copel took out a loan from Banco do Brasil aiming to pay existing debts. Five new operations with 7-year maturity had been contracted until the end of the December 2007, in the amount of R$ 330 million, being one in the amount of R$ 231 million at 106.2% p.y. of the CDI, and the other in the amount of R$ 99 million at 106.5% p.y. of the CDI.

COPEL’s shareholders’ equity came to R$ 7,236.2 million, 13.5% higher than at the end of 2006, equivalent to R$ 26.44 per share.

Debt Profile

            R$ ‘000 
Foreign Currency    Short Term    Long Term    Total 
IDB    18,808    43,898    62,706 
National Treasury    7,602    70,432    78,034 
Eletrobras      33    38 
Banco do Brasil S.A.    4,083    3,919    8,002 
Total    30,498    118,282    148,780 
 
Local Currency    Short Term    Long Term    Total 
Eletrobras – COPEL    43,096    272,798    315,894 
Eletrobras – Elejor      94,709    94,709 
BNDES – Compagas    6,328    19,029    25,357 
Debentures – COPEL    168,599    733,360    901,959 
Debentures – Elejor    3,228    269,314    272,542 
Banco do Brasil S.A. and other    12,762    330,450    343,212 
Total    234,013    1,719,660    1,953,673 
 
TOTAL    264,511    1,837,942    2,102,453 

11


Account for Compensation of Portion A – CVA

The account for compensation of Portion A allows distribution companies to offset, between their annual rate reviews, variations in the cost of certain items listed in their concession agreements.

The CVA variation updated by the SELIC from January to December 2007 is demonstrated in the following table:

Portion A Memorandum Account - CVA

                        R$ ‘000 
CVA   Balance    Deferral    Amortization    Monetary    Transf.    Balance 
  12/31/06            restatement        12/31/07 
Asset                         
 Purchased Energy (Itaipu)   28,428    55,854    (42,541)   5,166      46,907 
 Transport of Purchased Energy    2,195    497    (2,557)   150      285 
 Use of Transmission Grid Charges    10,699    8,096    (11,009)   362      8,148 
 Energy Development Account – CDE    15,947    11,150    (18,607)   1,479      9,969 
 Electric Power Services Fee – ESS    10,441    7,611    (11,309)   1,083      7,826 
 Fuel Consumption Account – CCC    17,481    15,166    (20,678)   1,218      13,187 
 Proinfa    9,069    7,860    (11,143)   984      6,770 
 Purchased Energy (CVA)   8,061      (8,061)      
TOTAL    102,321    106,234    (125,905)   10,442    -    93,092 
Liabilities                         
 Energy Purchased for Resale    134,199    61,325    (118,608)   10,261      87,177 
 CCC    18,394    49,310    (36,119)   4,271      35,856 
 Use of Transmission Grid Charges    9,154    50,413    (32,580)   7,188      34,175 
 Transport of Purchased Energy    804    1,251    (1,059)   118      1,114 
 Electric Power Services Fee – ESS      7,193      251      7,444 
TOTAL    162,551    169,492    (188,366)   22,089    -    165,766 

12


6. ADDITIONAL INFORMATION 

Main Operational and Financial Indicators

December 31, 2007

Generation     
   COPEL Geração power plants    18 (17 hydro and 1 thermal)
   Power plants in which COPEL holds interest    06 (04 hydro, 1 thermal e 1 wind power)
   Total installed capacity of COPEL Geração    4.550 MW 
   Installed capacity of COPEL's Corporate Partnerships (1)   602 MW 
   Automated and remote-controlled power plants of COPEL Geração    12 
   Automated and remote-controlled power plants of     
   COPEL's corporate partnerships    03 
   Step-up substations of COPEL Geração    11 
   Automated and remote-controlled step-up substations    10 
 
Transmission     
   Transmission lines    7,352 km 
   Number of substations    133 (100% automated)
   Installed substation capacity    16,702 MVA 
 
Distribution     
       Distribution lines    171,524 km 
       Number of substations    236 
       Number of automated substations    209 
       Installed capacity in 34.5kV substations    1,624 MVA 
       Number of localities served    1,116 
       Number of municipalities served    393 
       Number of customers    3,437,061 
       DEC (outage duration per customer, in hours and hundredths of an hour)   14.67 
       FEC (outage frequency per customer)   13.27 times 
 
Telecommunication     
       Optical cable – main ring    5,054 km 
       Self sustained optical cable    5,571 km 
       Number of cities served    181 
       Number of customers    504 
 
Administration     
       Number of employees (wholly-owned subsidiaries)   8,347 
       Customer per distribution employee    531 
 
Financial     
       Book Value (per 1,000 shares)   R$ 26.44 
       EBITDA    R$ 2,029 million 
       Liquidity (Current Ratio)   1.74 

(1) proportional to the capital stake.

13


Average Energy Purchase Tariffs

                       R$/MWh 
Tariff    Dec/07    Sep/07    Var. %    Dec/06    Var. % 
  (1)   (2)   (1 / 2)   (3)   (1 / 3)
Auction – CCEAR 2005-2012    63.81    63.79    0.0%    61.84    3.2% 
Auction – CCEAR 2006-2013    74.45    74.66    -0.3%    72.41    2.8% 
Auction – CCEAR 2007-2014    84.42    82.26    2.6%     
Auction – CCEAR 2007-2014 (A-1)   104.75    104.73    0.0%     
CIEN    84.54    84.54    0.0%    70.85    19.3% 
Itaipu (Transport tariff included - Furnas)   88.27    91.73    -3.8%    84.46    4.5% 
                     

Retail Tariffs

                       R$/MWh 
Tariff   Dec/07    Sep/07    Var. %    Dec/06    Var. % 
  (1)   (2)   (1 / 2)   (3)   (1 / 3)
Residential (a)   252.00    251.99    0.0%    257.09    -2.0% 
Industrial (not considering free customers) (b)   177.71    187.35    -5.1%    187.60    -5.3% 
Commercial    222.21    226.22    -1.8%    227.52    -2.3% 
Rural    148.99    149.03    0.0%    151.73    -1.8% 
Other    170.98    173.97    -1.7%    174.23    -1.9% 
TOTAL    204.14    208.71    -2.2%    210.78    -3.2% 

Without ICMS 
a)
Tariff recalculated including the subsidy for low-income paid by the Federal Government 
b)
Tariff recalculated excluding products used by the system relating to energy billed to free consumers 

Energy Supply Tariffs

                       R$/MWh 
Tariff   Dec/07    Sep/07    Var. %    Dec/06    Var. % 
  (1)   (2)   (1 / 2)   (3)   (1 / 3)
Wholesale Concessionaires – State of Paraná    123.97    122.59    1.1%    86.19    43.8% 
Auction – CCEAR 2005-2012    63.91    63.61    0.5%    61.76    3.5% 
Auction - CCEAR 2006-2013    75.11    74.66    0.6%    72.63    3.4% 
Auction - CCEAR 2007-2014    83.99    83.36    0.8%     
                     

14


Energy Flow - COPEL Consolidated

            GWh 
    2007    2006    Var.% 
   Own Generation    18,134    10,358    75.1% 
   Purchased energy    24,191    28,874    -16.2% 
       Itaipu    4,666    4,665    0.0% 
       Auction – CCEAR    13,053    11,332    15.2% 
       CIEN    1,533    3,504    -56.3% 
       MRE/CCEE    1,777    6,527    -72.8% 
       Other    3,162    2,846    11.1% 
Total Available Power    42,325    39,232    7.9% 
   Energy Market    20,459    19,149    6.8% 
       Retail    18,523    17,512    5.8% 
       Concessionaires    474    458    3.5% 
       Free Customers    1,462    1,179    24.0% 
   Bilateral Agreements    3,945    4,287    -8.0% 
   Auction – CCEAR    11,940    11,174    6.9% 
   MRE/CCEE    2,927    1,814    61.4% 
   Losses and differences    3,055    2,809    8.8% 
       Basic network losses    958    762    25.7% 
       Distribution losses    1,958    1,841    6.4% 
       CG contract allocation    139    206    -32.5% 
             

CCEAR = Energy Purchase Agreements in the Regulated Market
MRE = Energy Reallocation Mechanism
CCEE = Electric Power Trade Chamber
CG = Center of gravity of the Submarket (difference between billed energy and energy received from CG) Amounts subject to changes after settlement by CCEE

COPEL Geração

            GWh 
Source    2007    2006    Var. % 
 Own Generation    18,134    10,358    75.1% 
 MRE/ CCEE    1,775    6,527    -72.8% 
 Other    840    934    -10.1% 
Total Available Power    20,749    17,819    16.4% 
 Bilateral Agreements    3,945    4,287    -8.0% 
 CCEAR – Copel Distribuição    1,203    1,038    15.9% 
 CCEAR – Other Concessionaires    10,737    10,136    5.9% 
 Free Customers    1,462    1,179    24.0% 
 MRE/ CCEE    2,927    923    217.1% 
 Losses and differences    476    256    85.9% 
             

CCEAR = Energy Purchase Agreements in the Regulated Market
MRE = Energy Reallocation Mechanism
CCEE = Electric Power Trade Chamber
CG = Center of gravity of the Submarket (difference between billed energy and energy received from CG) Amounts subject to changes after settlement by CCEE

15


COPEL Distribuição

Source    2007    2006    Var. % 
   Itaipu    4,666    4,665    0.0% 
   CCEAR – Copel Geração and Transmissão    1,203    1,038    15.9% 
   CCEAR – Other Wholesale    11,850    10,293    15.1% 
   CIEN    1,533    3,504    -56.3% 
   CCEE       
   Other    2,322    1,913    21.4% 
Purchased Energy    21,575    21,413    0.8% 
State Demand    18,997    17,969    5.7% 
   Retail    18,523    17,511    5.8% 
   Wholesale    474    458    3.5% 
CCEE      891    -100.0% 
Total Sold Energy    18,997    18,860    0.7% 
Losses and differences    2,579    2,553    1.0% 
   Basic network losses    482    506    -4.7% 
   Distribution losses    1,958    1,841    6.4% 
   CG contract allocation    139    206    -32.5% 
             

CCEAR = Energy Purchase Agreements in the Regulated Market
MRE = Energy Reallocation Mechanism
CCEE = Electric Power Trade Chamber
CG = Center of gravity of the Submarket (difference between billed energy and energy received from CG) Amounts subject to changes after settlement by CCEE

Shareholding Structure (as of 12/31/2007)

                            Thousand of shares 
Shareholders   COMMON    %    Preferred "A"    %    Preferred "B"    %    TOTAL    % 
State of Paraná    85.029    58,6    -    -    14    0,0    85.042    31,1 
BNDESPAR    38.299    26,4    -    -    27.282    21,3    65.581    24,0 
ELETROBRÁS    1.531    1,1    -    -    -    -    1.531    0,6 
Free Floating    19.613    13,5    126    31,5    100.812    78,6    120.550    44,0 
       BOVESPA    15.302    10,6    126    31,5    69.066    53,9    84.493    30,9 
       NYSE    4.311    3,0        31.658    24,7    35.969    13,1 
       LATIBEX            88    0,1    88   
Other    560    0,4    273    68,5    119    0,1    951    0,3 
TOTAL    145.031    100,0    398    100,0    128.226    100,0    273.655    100,0 
________________________________________________________________________

16


7. FINANCIAL STATEMENTS 

COMPANHIA PARANAENSE DE ENERGIA 
CNPJ 76.483.817/0001-20 
Companhia de Capital Aberto - CVM 1431-1
 
www.copel.com        copel@copel.com
 
1

SUMMARIZED FINANCIAL STATEMENTS

Translation from the original in portuguese (amounts expressed in thousands of Brazilian Reais)

 
ASSETS    Var. 
 
    3/31/2007    6/30/2007    9/30/2007    12/31/2007    12/31/2006    2007/2006     Dec07/Sep/07
CURRENT                             
   Cash in hand    1,063,337    1,109,425    1,367,430    1,540,871    1,468,716    4.9%    12.7% 
   Customers and distributors    1,054,328    1,130,729    1,097,214    1,089,694    1,064,802    2.3%    -0.7% 
   Allowance for doubtfull accounts    (81,948)   (96,693)   (109,871)   (71,592)   (111,261)   -35.7%    -34.8% 
   Third-parties services, net    14,599    9,520    10,721    8,750    13,399    -34.7%    -18.4% 
   Dividends receivable    1,997    1,645    1,458    2,767    2,019    37.0%    89.8% 
   Services in progress    25,563    42,888    46,456    51,343    20,038    156.2%    10.5% 
   CRC transferred to State Government    35,857    36,623    38,187    40,509    35,205    15.1%    6.1% 
   Taxes and social contributions paid in advance    251,186    190,486    189,231    155,599    235,084    -33.8%    -17.8% 
   Account for compensation of "Portion A"    69,432    84,272    70,068    67,614    90,048    -24.9%    -3.5% 
   Other Regulatory Assets    1,704      5,083    17,186    3,408    404.3%    238.1% 
   Bonds and linked deposits    105,821    113,104    141,626    145,161    103,853    39.8%    2.5% 
   Material and supplies    51,126    50,886    47,900    52,195    51,444    1.5%    9.0% 
   Other    47,980    37,893    53,375    62,313    36,878    69.0%    16.7% 
    2,640,982    2,710,778    2,958,878    3,162,410    3,013,633    4.9%    6.9% 
 
NON-CURRENT                             
Long-term assets                             
   Customers and distributors    104,068    131,686    156,820    139,125    108,157    28.6%    -11.3% 
   Allowance for doubtfull accounts          (11,469)      
   Third party services      7,036    8,230    7,251        -11.9% 
   CRC transferred to State Government    1,159,858    1,156,847    1,181,190    1,209,853    1,158,898    4.4%    2.4% 
   Taxes and social contributions paid in advance    360,917    375,107    442,303    462,427    382,528    20.9%    4.5% 
   Account for compensation of "Portion A"    10,182    6,969    20,592    25,478    12,273    107.6%    23.7% 
   Other Regulatory Assets        23,320    5,729        -75.4% 
   Bonds and linked deposits    23,621    21,625    20,645    22,423    24,630    -9.0%    8.6% 
   Judicial Deposits    135,151    126,516    126,957    121,340    140,954    -13.9%    -4.4% 
   Other    11,740    10,198    10,217    8,450    11,909    -29.0%    -17.3% 
    1,805,537    1,835,984    1,990,274    1,990,607    1,839,349    8.2%    0.0% 
 
Investments    308,056    304,303    308,260    256,809    229,953    11.7%    -16.7% 
Property, plant and equipment    6,686,920    6,684,889    6,706,141    6,832,379    6,711,686    1.8%    1.9% 
Intangible assets    41,532    38,525    38,857    112,585    116,798    -3.6%    189.7% 
Deferred    18,191    12,881    7,958    5,227    23,204    -77.5%    -34.3% 
 
    8,860,236    8,876,582    9,051,490    9,197,607    8,920,990    3.1%    1.6% 
 
TOTAL    11,501,218    11,587,360    12,010,368    12,360,017    11,934,623    3.6%    2.9% 
   

17


 
LIABILITIES AND SHAREHOLDERS' EQUITY    Var. 
 
    3/31/2007    6/30/2007    9/30/2007    12/31/2007    12/31/2006    2007/2006   Dec07/Sep/07 
 
CURRENT                             
   Loans and financing    85,497    92,780    83,863    92,684    90,152    2.8%    10.5% 
   Debentures    151,970    179,751    147,130    171,827    838,355    -79.5%    16.8% 
   Suppliers    363,066    391,519    364,529    366,510    392,219    -6.6%    0.5% 
   Taxes and social contributions    273,962    253,317    315,510    249,460    311,085    -19.8%    -20.9% 
   Interest on own capital    277,421    83,562    195,478    252,362    277,421    -9.0%    29.1% 
   Accrued payroll costs    130,583    99,096    110,765    146,119    134,218    8.9%    31.9% 
   Pension plan and other post-retirement benefits    78,310    93,328    75,071    42,286    133,635    -68.4%    -43.7% 
   Account for compensation of "Portion A"    144,988    242,213    187,253    143,436    110,498    29.8%    -23.4% 
   Regulatory charges          46,476       
   Customers charges due    34,309    35,748    38,123    32,722    51,705    -36.7%    -14.2% 
   Electric efficiency and development research    165,195    176,001    180,465    185,280    174,316    6.3%    2.7% 
   Other    72,150    102,942    94,765    85,465    67,766    26.1%    -9.8% 
 
    1,777,451    1,750,257    1,792,952    1,814,627    2,581,370    -29.7%    1.2% 
 
NON-CURRENT                             
Long-Term Liabilities                             
   Loans and financing    839,852    819,294    829,782    835,268    604,306    38.2%    0.7% 
   Debentures    998,763    999,009    1,002,510    1,002,674    1,129,230    -11.2%    0.0% 
   Provision for contingencies    216,931    203,410    390,993    514,270    222,473    131.2%    31.5% 
   Suppliers    176,518    181,605    185,492    190,394    234,212    -18.7%    2.6% 
   Taxes and social contributions    21,229    20,467    25,705    32,092    24,083    33.3%    24.8% 
   Pension plan and other post-retirement benefits    553,102    449,710    461,593    454,411    495,759    -8.3%    -1.6% 
   Account for compensation of "Portion A"    38,589    10,726    16,780    22,330    52,053    -57.1%    33.1% 
   Other regulatory liabilities        8,895    18,935        112.9% 
   Other    8,961    32,320    26,480    6,720    8,961    -25.0%    -74.6% 
 
    2,853,945    2,716,541    2,948,230    3,077,094    2,771,077    11.0%    4.4% 
 
Income (Losses) from Future Periods    -    -    592    592    -      0.0% 
 
    2,853,945    2,716,541    2,948,822    3,077,686    2,771,077    11.1%    4.4% 
 
 
MINORITY INTEREST    210,590    219,690    232,956    231,527    205,906    12.4%    -0.6% 
 
SHAREHOLDERS' EQUITY                             
   Capital stock    3,875,000    4,460,000    4,460,000    4,460,000    3,875,000    15.1%    0.0% 
   Capital reserves    817,293    817,293    817,293    838,340    817,293    2.6%    2.6% 
   Income reserves    1,966,939    1,623,579    1,758,345    1,937,837    1,683,977    15.1%    10.2% 
 
    6,659,232    6,900,872    7,035,638    7,236,177    6,376,270    13.5%    2.9% 
 
TOTAL    11,501,218    11,587,360    12,010,368    12,360,017    11,934,623    3.6%    2.9% 
   

18


QUARTERLY FINANCIAL STATEMENTS

Translation from the original in portuguese (amounts expressed in thousands of Brazilian Reais)

 
    Var. 
 
    1Q2007    2Q2007    3Q2007    4Q2007    4Q2006    12/31/2007    12/31/2006    2007/2006    4Q07/3Q07 
 
OPERATING REVENUES                                     
 Electricity sales to final customers    1,397,291    1,442,680    1,443,063    (1,535,354)   (1,542,972)   2,747,680    2,558,481    7.4%    -206.4% 
 Electricity sales to distributors    299,893    387,226    352,869    327,607    355,078    1,367,595    1,290,976    5.9%    -7.2% 
 Use of transmission grid    81,755    55,591    75,834    3,103,783    3,002,373    3,316,963    3,225,414    2.8%    3992.9% 
 Telecom revenues    15,106    14,724    16,754    17,309    19,042    63,893    58,054    10.1%    3.3% 
 Piped gas distribution    57,589    61,584    65,408    59,499    62,132    244,080    227,081    7.5%    -9.0% 
 Other revenues    16,192    16,674    76,602    70,415    15,359    179,883    61,320    193.4%    -8.1% 
    1,867,826    1,978,479    2,030,530    2,043,259    1,911,012    7,920,094    7,421,326    6.7%    0.6% 
 
DEDUCTIONS FROM OPERATING REVENUES    (621,421)   (650,720)   (616,486)   (609,341)   (649,446)   (2,497,968)   (2,532,711)   -1.4%    -1.2% 
 
NET OPERATING REVENUES    1,246,405    1,327,759    1,414,044    1,433,918    1,261,566    5,422,126    4,888,615    10.9%    1.4% 
 
OPERATING EXPENSES                                     
 Eletricity purchased for resale    (279,879)   (377,817)   (383,899)   (387,822)   (377,458)   (1,429,417)   (1,439,744)   -0.7%    1.0% 
 Charges for the use of transmission grid    (130,676)   (172,311)   (113,048)   (98,415)   (125,634)   (514,450)   (534,780)   -3.8%    -12.9% 
 Payroll    (130,055)   (144,422)   (136,244)   (238,996)   (235,608)   (649,717)   (641,885)   1.2%    75.4% 
 Pension plan    (22,713)   33,891    (18,608)   21,281    (19,239)   13,851    (73,010)   -119.0%    -214.4% 
 Material    (17,263)   (15,912)   (14,006)   (16,037)   (18,419)   (63,218)   (67,858)   -6.8%    14.5% 
 Raw material and supplies for generation of electricity    (3,258)   (3,142)   23,128    (7,774)   (4,112)   8,954    280,579    -96.8%    -133.6% 
 Natural gas and supplies for the gas business    (27,508)   (38,910)   (35,815)   (30,493)   (63,282)   (132,726)   (177,702)   -25.3%    -14.9% 
 Third-party services    (49,258)   (57,218)   (58,386)   (76,080)   (62,599)   (240,942)   (226,779)   6.2%    30.3% 
 Depreciation and amortization    (104,460)   (105,379)   (106,496)   (105,714)   (97,537)   (422,049)   (372,395)   13.3%    -0.7% 
 Provisions and reversals    14,349    (14,853)   (207,117)   (34,814)   186,266    (242,435)   80,668    -400.5%    -83.2% 
 Expenses recoverable    10,069    13,841    11,628    17,658    9,676    53,196    42,644    24.7%    51.9% 
 Other    (39,360)   (51,831)   (40,417)   (64,285)   (43,462)   (195,893)   (154,960)   26.4%    59.1% 
                                   
    (780,012)   (934,063)   (1,079,280)   (1,021,491)   (851,408)   (3,814,846)   (3,285,222)   16.1%    -5.4% 
 
RESULT OF OPERATIONS    466,393    393,696    334,764    412,427    410,158    1,607,280    1,603,393    0.2%    23.2% 
 
FINANCIAL INCOME (EXPENSES)                                    
 Financial income    86,736    73,714    105,895    129,672    124,313    396,017    729,203    -45.7%    22.5% 
 Financial expenses    (118,721)   (65,871)   (96,516)   (94,666)   (158,556)   (375,774)   (489,186)   -23.2%    -1.9% 
    (31,985)   7,843    9,379    35,006    (34,243)   20,243    240,017    -91.6%    273.2% 
 
EQUITY INVESTMENT    4,170    1,457    6,265    (10,291)   (7,393)   1,601    (6,187)   -125.9%    -264.3% 
 
OPERATING INCOME (EXPENSES)   438,578    402,996    350,408    437,142    368,522    1,629,124    1,837,223    -11.3%    24.8% 
 
NON-OPERATING INCOME (EXPENSES)   (2,530)   (31,937)   (3,662)   7,020    23,212    (31,109)   (22,977)   35.4%    -291.7% 
 
INCOME (LOSS) BEFORE INCOME TAX                                     
AND SOCIAL CONTRIBUTION    436,048    371,059    346,746    444,162    391,734    1,598,015    1,814,246    -11.9%    28.1% 
                                     
INCOME TAX AND SOCIAL CONTRIBUTION    (151,043)   (120,320)   (63,922)   (125,030)   (73,788)   (460,315)   (557,678)   -17.5%    95.6% 
 
NET INCOME (LOSS) BEFORE MINORITY INTEREST    285,005    250,739    282,824    319,132    317,946    1,137,700    1,256,568    -9.5%    12.8% 
 
 
MINORITY INTEREST    (2,043)   (9,099)   (13,058)   (6,890)   (7,765)   (31,090)   (13,888)   123.9%    -47.2% 
 
NET INCOME (LOSS)   282,962    241,640    269,766    312,242    310,181    1,106,610    1,242,680    -10.9%    15.7% 
                                     
NET INCOME PER LOT OF ONE                                     
THOUSAND SHARES AND PER SHARE    1.0340    0.8830    0.9858    1.1410    1.1335    4.0438    4.5410    -10.9%    15.7% 
 
EBITDA    570,853    499,075    441,260    518,141    507,695    2,029,329    1,975,788    2.7%    17.4% 
 

19


8. FINANCIAL STATEMENTS - SUBSIDIARIES 

SUMMARIZED FINANCIAL STATEMENTS
As of December, 31, 2007

Translation from the original in portuguese (amounts expressed in thousands of Brazilian Reais)

 
ASSETS    GET - Consolidated    TRA    DIS    TEL    PAR - Consolidated 
  2007    2006    2007    2006    2007    2006    2007    2006    2007    2006 
 
 
CURRENT                                         
 Cash in hand    873,711    557,355      59,698    314,549    132,854    7,204    237    289,221    169,158 
 Customers and distributors, net    201,857    149,041      48,757    833,179    731,734        29,770    76,939 
 Third-parties services    780    620      116    17    45    10,850    15,465     
 Dividends receivable                      2,767    1,975 
 Services in progress    7,448    4,028      3,457    43,895    12,322          231 
 CRC transferred to State of Paraná            40,509    35,205         
 Taxes and social contributions paid in advance    13,946    18,813      3,515    167,393    186,679    1,475    2,860    5,900    4,453 
 Account for compensation of "Portion A"            67,614    90,048         
 Other regulatory assets            17,186    3,408         
 Bonds and linked deposits    60,447    22,688      2,754    24,244    33,714        57,664    9,409 
 Other    16,537    7,830      3,033    30,336    26,603    571    625    21,154    9,368 
 Material and supplies    4,539    138      9,870    44,673    32,333    2,468    8,560    515    543 
    1,179,265    760,513    -    131,200    1,583,595    1,284,945    22,568    27,747    406,991    272,076 
NON-CURRENT                                         
Long-term assets                                         
 Customers and distributors    6,527    27,109        127,121    81,048        21,239    18,901 
 Third-parties services                7,251    9,586     
 CRC transferred to State Government            1,209,853    1,158,898         
 Taxes and social contributions paid in advance    79,761    47,861      38,742    231,980    213,232    10,360      14,614    12,006 
 Account for compensation of "Portion A"            25,478    12,273         
 Other regulatory assets            5,729           
 Bonds and linked deposits          5,140    22,423    19,490         
 Judicial Deposits    27,368    8,124      16,937    58,186    67,297    369    100    687    561 
 Investees, subsidiaries, and parent company      368,622                 
 Other    949    4,354      56    5,681    5,546        1,820    1,953 
    114,605    456,070    -    60,875    1,686,451    1,557,784    17,980    9,686    38,360    33,421 
 
Investments    8,610    4,150    -    2,257    2,428    419    -    -    208,833    218,465 
Property, plant and equipment    3,503,318    2,862,926    -    1,195,446    1,870,602    1,157,613    186,175    183,518    1,272,284    1,312,183 
Intangible assets    10,615    853    -    24,366    26,954    13,418    1,698    1,748    73,318    76,413 
Deferred    -    -    -    -    -    -    -    -    5,227    23,204 
    3,637,148    3,323,999    -    1,282,944    3,586,435    2,729,234    205,853    194,952    1,598,022    1,663,686 
 
TOTAL    4,816,413    4,084,512    -    1,414,144    5,170,030    4,014,179    228,421    222,699    2,005,013    1,935,762 
 

GET: Geração e Transmissão, TRA: Transmissão, DIS: Distribuição, TEL: Telecomunicações, PAR: Participações

20


 
LIABILITIES AND SHAREHOLDERS' EQUITY    GET - Consolidated    TRA    DIS    TEL    PAR - Consolidated 
  2007    2006    2007    2006    2007    2006    2007    2006    2007    2006 
 
 
CURRENT                                         
 Loans and financing    57,964    52,885      16,047    15,771    14,802        6,328    6,418 
 Debentures              637,329        3,228    15,951 
 Suppliers    42,796    46,808      4,384    321,545    335,237    3,673    4,050    41,349    59,860 
 Taxes and social contributions    132,196    93,946      13,389    171,217    184,127    1,257    1,452    5,415    3,986 
 Interest on own capital    504,687    644,418      60,014    178,319    52,913        25,558    11,718 
 Accrued payroll costs    36,217    22,527      19,921    99,788    82,562    7,445    6,869    2,507    2,247 
 Pension plan and other post-retirement benefits    8,748    25,785      24,771    31,569    77,143    1,783    5,768    163    153 
 Account for compensation of "Portion A"            143,436    110,498         
 Other regulatory liabilities    24,711          21,765           
 Customers charges due    3,970    2,795      1,144    28,752    47,766         
 Electric efficiency and development research    31,320    28,019      10,737    149,987    133,282        3,973    2,278 
 Concession charges - Aneel consent                      27,084    29,489 
 Other    17,856    18,105      1,511    50,943    25,016    497    659    968    634 
    860,465    935,288    -    151,918    1,213,092    1,700,675    14,655    18,798    116,573    132,734 
NON-CURRENT                                         
 Loans and financing    280,377    301,684      63,771    111,553    98,657        113,738    140,194 
 Debentures                    269,314    262,550 
 Provision for contingencies    155,131    27,080      33,899    147,606    133,317    1,903    842    3,213    3,053 
 Intercompany receivables          69,217    683,052          34,847    511,526 
 Suppliers    211,633    189,983          62,863          267 
 Taxes and social contributions    53          24,818    15,126        7,221    8,957 
 Pension plan and other post-retirement benefits    144,084    112,284      100,816    290,421    262,202    18,128    18,772    1,778    1,685 
 Account for compensation of "Portion A"            22,330    52,053         
 Other regulatory liabilities    11,680          7,255           
 Other    6,720    8,960        5,992           
    809,678    639,991    -    267,703    1,293,027    624,218    20,031    19,614    430,111    928,233 
                                         
Income (Losses) from Future Periods    592    -    -    -    -    -    -    -    -    - 
 
MINORITY INTEREST    1,236    -    -    -    -    -    -        231,527    205,906 
SHAREHOLDERS' EQUITY                                         
 Capital stock    2,947,018    2,338,932      772,389    2,171,928    1,607,168    194,054    187,894    1,098,500    586,975 
 Capital reserves                  701    701     
 Income reserves    197,424    170,301      222,134    491,983    82,118        128,302    81,914 
 Accrued (losses) income                    (1,020)   (4,308)    
    3,144,442    2,509,233    -    994,523    2,663,911    1,689,286    193,735    184,287    1,226,802    668,889 
 
TOTAL    4,816,413    4,084,512    -    1,414,144    5,170,030    4,014,179    228,421    222,699    2,005,013    1,935,762 
 

GET: Geração e Transmissão, TRA: Transmissão, DIS: Distribuição, TEL: Telecomunicações, PAR: Participações

21


 
INCOME STATEMENT    GET - Consolidated    TRA    DIS    TEL    PAR - Consolidated 
  2007    2006    2007    2006    2007    2006    2007    2006    2007    2006 
 
Operating Revenues                                         
   Electricity sales to final customers    164,935    133,822        2,582,762    5,346,082        4,099    24,127 
   Electricity sales to distributors    1,276,484    1,161,336        76,221    105,704        239,708    196,719 
   Use of transmission grid    18,122      387,753    429,906    3,207,601    148,452         
   Telecom revenues                  92,799    88,799     
   Piped gas distribution                      246,245    237,172 
   Leasing and rent    245    264    1,168    1,429    46,220    40,146        79,144   
   Other revenues    43,028    7,930    2,070    1,393    16,771    14,938        7,165    120 
    1,502,814    1,303,352    390,991    432,728    5,929,575    5,655,322    92,799    88,799    576,361    458,138 
Deductions from operating revenues    (200,774)   (184,540)   (36,660)   (48,587)   (2,179,293)   (2,215,540)   (14,148)   (12,185)   (67,093)   (71,859)
                                         
Net Operating Revenues    1,302,040    1,118,812    354,331    384,141    3,750,282    3,439,782    78,651    76,614    509,268    386,279 
                                         
Operating Costs and Expenses                                         
   Eletricity purchased for resale    (59,855)   (69,324)       (1,557,785)   (1,538,928)       (36,595)   (4,275)
   Charges for the use of transmission grid    (185,030)   (187,154)       (601,228)   (631,850)       (25,268)   (10,365)
   Payroll    (111,744)   (101,909)   (74,606)   (85,514)   (416,529)   (410,185)   (28,716)   (27,195)   (12,718)   (12,019)
   Pension plan    16,679    (10,823)   245    (9,594)   (1,646)   (48,534)   (226)   (2,806)   (1,112)   (1,180)
   Material    (8,881)   (8,581)   (4,665)   (3,819)   (48,324)   (53,688)   (950)   (1,321)   (546)   (443)
   Raw material and supplies for generation of elec    10,673    270,461                (7,571)  
   Natural gas and supplies for the gas business                    (132,726)   (177,702)
   Third-party services    (48,135)   (51,804)   (15,632)   (17,291)   (185,054)   (173,010)   (11,263)   (6,541)   (21,198)   (8,787)
   Depreciation and amortization    (106,102)   (103,088)   (43,242)   (40,987)   (171,380)   (157,853)   (28,243)   (26,938)   (73,082)   (43,529)
   Provisions (reversal) for contingencies    (2,209)   23,637    (5,286)   (14,397)   (33,877)   (93,337)   (3,503)   (784)   (430)  
   Concession charges - Aneel consent                    (33,497)   (26,423)
   Expenses recoverable    25,348    18,749    383    387    29,449    27,059    38    21    50    58 
   Other    (100,711)   (58,438)   (6,712)   (8,653)   (39,834)   (55,811)   (2,416)   (3,301)   (12,451)   (842)
    (569,967)   (278,274)   (149,515)   (179,868)   (3,026,208)   (3,136,137)   (75,279)   (68,865)   (357,144)   (285,507)
Result of Operations    732,073    840,538    204,816    204,273    724,074    303,645    3,372    7,749    152,124    100,772 
                                         
Financial Income (expenses)                                        
   Financial income    82,110    395,132    10,649    8,428    256,390    292,835    2,088    923    30,902    17,025 
   Financial expenses    (51,639)   (64,867)   (4,126)   (17,708)   (148,386)   (208,656)   (473)   (2,745)   (54,356)   (51,087)
    30,471    330,265    6,523    (9,280)   108,004    84,179    1,615    (1,822)   (23,454)   (34,062)
Equity Investment    -    -    -    -    -    -    -    -    950    (6,492)
                                         
Operating Income (expenses)   762,544    1,170,803    211,339    194,993    832,078    387,824    4,987    5,927    129,620    60,218 
                                         
   Non-operating income (expenses)   (29,805)   (319)   (2,659)   (794)   (11,469)   (6,201)   (81)   (64)   (5)   (15,994)
                                         
Income (loss) before income tax    732,739    1,170,484    208,680    194,199    820,609    381,623    4,906    5,863    129,615    44,224 
                                         
   Income tax and social contribution    (182,592)   (321,734)   (61,894)   (36,869)   (246,293)   (97,723)   (3,140)   (965)   (34,956)   (22,361)
   Deferred income tax and social contribution    (7,633)   1,442    6,030    10,197    7,144    779    1,522    (169)   2,538    2,183 
   Minority interest    (63)                 (31,090)   (13,888)
                                         
Net income (loss)   542,451    850,192    152,816    167,527    581,460    284,679    3,288    4,729    66,107    10,158 
 
EBITDA    838,175    943,626    248,058    245,260    895,454    461,498    31,615    34,687    225,206    144,301 
 

GET: Geração e Transmissão, TRA: Transmissão, DIS: Distribuição, TEL: Telecomunicações, PAR: Participações

22


2007 RESULTS 
CONFERENCE CALL 

Presentation by Rubens Ghilardi CEO and Mr. Paulo Roberto Trompczynski – CFO and IRO

Date:    Wednesday, March 19, 2008 (Simultaneous translation to English)
Time:    10:00 a.m. (US EST)
Telephone:    (1 - 888) 700-0802 

The conference call will also be broadcast via the internet at
www.copel.com/ir

Please connect 15 minutes prior to the call.

 

Investor Relations - COPEL
ri@copel.com

Telephone:        Fax: 
+55 (41) 3222-2027        +55 (41) 3331-2849 

Statements contained in this press release may contain information which is forward-looking and reflects management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. Any statements, expectations, capabilities, plans and assumptions contained in this press release that do not describe historical facts such as statements regarding the declaration or payment of dividends, the direction of future operations, the implementation of principal operating and financing strategies and capital expenditure plans, the factors or trends affecting financial condition, liquidity or results of operations are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. There is no guarantee that these results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

23


 
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: March 18, 2008

 
COMPANHIA PARANAENSE DE ENERGIA – COPEL
By:
/S/  Rubens Ghilardi

 
Rubens Ghilardi
CEO
 

 

 
FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.