6-K 1 elppr1q13_6k.htm PR 1Q13 elppr1q13_6k.htm - Generated by SEC Publisher for SEC Filing
 
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 May, 2013
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) 3222-2027
(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____


 
 

1Q13 Results

Curitiba, Brazil, May 15, 2013 – Companhia Paranaense de Energia - Copel (NYSE: ELP / LATIBEX: XCOP / BOVESPA: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announces its results for the first quarter of 2013.

Copel’s consolidated balance sheet presents the figures of its wholly owned subsidiaries (Copel Geração e Transmissão, Copel Distribuição and Copel Telecomunicações), controlled companies and investees. The consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), and with accounting practices adopted in Brazil.

Highlights

>        Net Operating Revenue: R$ 2,380 million.

>        Operating Income: R$ 592 million.

>        Net Income: R$ 399 million.

>        EPS (Earnings per Share): R$ 1.46.

>        EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization): R$ 665 million.

>        Annualized Return on Shareholders’ Equity: 13.4% in the period.

>        Growth in Power Supply: 8.9%.

 

The Company’s shares and main indexes presented the following variations in the period:

 

 

Ticker Price
03/31/2013 
Var. %
year 
Index Points
03/31/2013 
Var. %
year 
CPLE3 (common/ BM&FBovespa)  R$ 24.99  (0.8)  Ibovespa  56,352  (7.6) 
CPLE6 (preferred B/ BM&FBovespa)  R$ 30.93  (2.4)  IEE  27,750  (3.6) 
ELP (ADS/ Nyse)  US$ 15.47  0.8  Dow Jones  14,578  11.2 
XCOP (preferred B/ Latibex)  € 11.90  2.4  Latibex  2,564  (1.2) 

 


 

 

LIST OF CONTENTS

 

1. General Information

3

2. Income Statement

5

2.1 Net Operating Revenue

5

2.2 Operating Costs and Expenses

6

2.3 Equity in the Results of Investees

8

2.4 EBITDA

8

2.5 Financial Results

8

2.6 Consolidated Net Income

8

3. Balance Sheet and Investment Program

9

3.1 Assets

9

3.1.1 Cash, Cash Equivalents and Financial Investments

9

3.1.2 CRC Transferred to the State of Paraná

9

3.1.3 Accounts Receivable Related to the Extension of the Concession

9

3.2 Liabilities and Shareholders’ Equity

10

3.2.1 Debt

10

3.2.2 Payables related to the Concession – Use of Public Property

11

3.3 Investment Program

12

4. Shareholding Structure

12

5. Consolidated Financial Statements

13

5.1 Assets

13

5.2 Liabilities

14

5.3 Income Statement

15

5.4 Cash Flow

16

6. Financial Statements – Wholly Owned Subsidiaries

17

6.1 Assets

17

6.2 Liabilities

18

6.3 Income Statement

19

7. Power Market

20

7.1 Captive Market

20

7.2 Grid Market (TUSD)

21

7.3 Energy Flow

21

8. Supplementary Information

23

8.1 Tariffs

23

8.2 Main Operational and Financial Indicators

24

8.3 1Q13 Results Conference Call

25

 

2


 

 

                                                                                                                                                                                                  

1. General Information

Copel’s net income totaled R$ 398.7 million in 1Q13, 24.7% up on the R$ 319.7 million recorded in 1Q12, chiefly due to the 72.1% increase in revenue from electricity sales to distributors as a result of the higher energy allocation to the short-term market by the subsidiary Copel Geração e Transmissão in January, partially offset by higher costs from energy purchased for resale, 39.5% up year on year. For further information, please refer to item 2.

The table below summarizes the highlights for the period:

 

Operational Data  1Q13  1Q12  Var. % 
Energy Sold (GWh)  12,141  10,488  15.8 
Copel Distribuição  5,887  6,061  (2.9) 
Copel Geração  6,254  4,427  41.3 
 
Average Rates (BRL / MWh)  1Q13  1Q12  Var. % 
Power Purchase Average Rate - Copel Distribuição  121.99  109.37  11.5 
Retail Average Rate - Copel Distribuição  205.68  243.60  (15.6) 
Sales to Distributors Average Rate - Copel GeT  118.38  87.96  34.6 
 
Economic and Financial Result (R$ million)  1Q13  1Q12  Var. % 
Operating Income  592  476  24.4 
EBITDA  665  602  10.5 
Adjusted EBITDA by Regulatory Assets and Liabilities  705  598  17.9 
Net Income  399  320  24.7 
Capex  270  379  (28.8) 
Net Debt  1,559  871  79.0 
Shareholders' Net Equity  12,757  12,385  3.0 
 
Indicators  1Q13  1Q12  Var. % 
EBITDA Margin  27.9%  29.7%  (6.1) 
Adjusted EBITDA Margin  29.6%  29.5%  0.3 
ROE (annualized)  13.4%  11.0%  21.8 
Operating Margin  24.9%  23.5%  6.0 
Net Margin  16.7%  15.8%  5.7 
Net Debt / EBITDA (annualized)  0.59  0.36  63.9 
Book Value per Share  46.62  45.26  3.0 
Netdebt / Shareholders' Net Equity  25.6%  17.7%  44.6 
Current Liquidity  1.7  1.9  (10.5) 
Earnings per Share (EPS)  1.46  1.17  24.8 
Values subject to rounding adjustments.

3

 


 

 

Extraordinary Tariff Revision

On January 24, 2013, Aneel published Resolution 1,431 approving the Extraordinary Tariff Revision arising from Law 12,783/2013, which extended the power transmission and generation concessions expiring until 2017.  The tariffs that reflect the Extraordinary Tariff Revision and the pertinent financial components will come into effect from January 24 to June 23, 2013. Copel's tariff fell by 19.3% on average.

Payout

The 58th Annual Shareholders’ Meeting held on April 25, 2013 approved the payment of R$ 268.6 million, related to the shareholder payments for fiscal year 2012, as follows: (i) R$ 138.1 million in interest on own capital, declared and paid on January 15, 2013, and (ii) R$ 130.5 million in dividends, to be paid on May 23, 2013 to shareholders of record on April 25, 2013. The total amount is equivalent to a payout of 38%.

Revenue from the Spot Market - CCEE

Copel recorded revenue of R$ 403.8 million in the spot market (CCEE) in the first quarter of 2013, chiefly due to the strategy of allocating more electricity to the short-term market as a result of higher prices (PLD) in the period.

CDE (Energy Development Account) Funds

The Brazilian government issued Decree 7,945, which establishes the transfer of CDE funds to cover costs arising from: (a) exposure to the short-term market, limited to the amount not covered by the allocation of quotas; (b) the hydrological risk of the quotas; and (c) System Service Charges – ESS (dispatch of thermal power plants for energy security). At the end of March 2013, the Company had a total estimate of R$ 212.6 million in CDE funds, R$ 76.0 million of which, related to January 2013, were received in financial settlement on April 8, 2013. On April 30, 2013, the amounts of R$ 80.4 million and R$ 47.2 million, related to February and March 2013, were approved, with settlement scheduled for May 2013, totaling a transfer of R$ 203.6 million related to the first quarter of 2013. The R$ 9.0 million difference between the amount estimated by the Company and the amount transferred by the CDE will be adjusted in the next quarter.

The amounts contributed by CDE were recognized as compensation of electricity costs (R$ 93.6 million) and charges for the use of the main transmission grid (R$ 119.0 million). For further details, please refer to notes 31.1 and 31.2 of our quarterly financial statements.

Accounting Changes

From the financial year beginning on January 1st, 2013, new rules are being applied in preparing the financial statements, with effects mainly at (i) investments in associates, subsidiaries and joint ventures, and (ii) Employee benefits. The details of these changes are in Note 3 of our quarterly financial statements.

 

4

 


 

 

2. Income Statement

2.1 Net Operating Revenue

In the first quarter of 2013, “net operating revenue” reached R$ 2,380.4 million, 17.6% up on the R$ 2,024.6 million recorded in the previous year. The most important variations were:

 

(i) the 26.8% increase in revenue from “electricity sales to final customers”, which reflects only actual sales revenues, excluding the distribution grid tariff (TUSD), basically due to the (a) periodic tariff revision at Copel Distribuição on June 24, 2012, which led to an increase in the percentage of revenue booked under “electricity sales to final customers” and, consequently, to a reduction in the percentage booked under “use of the main transmission grid”, and (b) the 216.7% increase in electricity sales to final customers in the free market by Copel Geração e Transmissão;

(ii) the 72.1% increase in revenue from “electricity sales to distributors”, due to (a) the strategy of allocation of more power to the short-term market, (b) the high price of electricity in the spot market in the period, and (c) the increased volume in bilateral agreements, partially offset by lower revenue from CCEAR, due to the lower volume of agreements in the regulated environment;

(iii) the 31.5% downturn in “use of the main distribution and transmission grid” (TUSD and TUST revenue), due to the effects of (a) Copel Distribuição’s periodic tariff revision in effect as of June 24, 2012, and (b) the extension of the agreements for transmission assets, which led to a R$ 189 million reduction in Copel GeT’s Annual Permitted Revenue, partially offset by the 2.5% upturn in Copel Distribuição’s grid market;

(iv) the 72.2% increase in “construction revenue”, due to the booking of investments in construction services and improvements to electricity distribution and transmission infrastructure;

(v) the 6.0% upturn in “revenues from telecommunications”, basically due to new customers – the customer base increased from 3,141 at the end of 2012 to 3,998 at the end of March 2013;

(vi) the 13.4% increase in “distribution of piped gas” (supplied by Compagas), following tariff adjustments (4.5% as of March 2012 and 8.0% as of August 2012); and

5

 


 

 

 

R$ '0 0 0 
Income Statement 1Q13
(1) 
1Q12
(2) 
Var.%
(1/2) 

Electricity sales to final customers 

771,195  608,182  26.8 

Electricity sales to distributors 

724,767  421,031  72.1 

Use of the main distribution and transmission grid 

513,000  749,078  (31.5) 

Constructi on revenue 

181,191  105,194  72.2 

Revenues from telecommunications 

32,702  30,845  6.0 

Distribution of piped gas 

79,221  69,833  13.4 

Other operating revenues 

78,334  40,475  93.5 

Net operating revenue 

2,380,410  2,024,638  17.6 

(vii) the 93.5% increase in “other operating revenues”, mainly caused by higher revenue from the lease of the Araucária thermal plant, due to its dispatch in the first quarter of 2013.

 

2.2 Operating Costs and Expenses

In the first quarter of 2013, operating costs and expenses totaled R$ 1,882.0 million, a 19.1% increase over the R$ 1,580.0 million recorded in 1Q12, chiefly due to:

(i) the 39.5% increase in “electricity purchased for resale”, due to higher costs related to the purchase of energy from (a) auctions (CCEAR) - particularly due to thermal power agreements, (b) from the CCEE, chiefly due to higher need for electricity purchase in the short term by Copel Distribuição and  higher prices in the spot market, partially offset by the CDE funds, wich totaled R$ 93.6 million in 1Q13, and (c) from Itaipu, due to the dollar appreciation in the period;

 

R$'000
Electricity Purchased for Resale 1Q13
(1) 
1Q12
(2) 
Var. %
(1/2) 
Itaipu  131,734  120,520  9.3 
CCEAR (Auction)  532,505  409,639  30.0 
Bilateral  57,058  50,003  14.1  
CCEE  249,418  49,840  400.4  
(-) Transfer CDE - CCEE  (93,605)  -   -
Proinfa  41,673  33,235  25.4  
(-) Pis/ Pasep and Cofins  (77,081)  (59,688)   29.1
TOTAL  841,702  603,549   39.5

 

6

 


 

 

 

                                                                                                                                                                                                  

 

(ii) the 11.7% reduction in “use of the main distribution and transmission grid”, due to lower costs from charges for the use of the system as a result of Law 12,738/13, which extended transmission concessions, partially offset by higher System Service Charges (ESS), already provided for in the tariff cycle, which was not offset by CDE funds;

      R$ '000 
Encargos de uso da rede elétrica  1Q13  1Q12  Var. % 
System Service Charges - ESS  174,248  2,385  - 
(-) Transfer CDE - ESS  (118,958)  -  - 
System usage charges – distribution  54,960  134,386  (59.1) 
System usage charges – basic network and connection  41,810  36,948  13.2 
Itaipu transportation charges  12,402  10,744  15.4 
Charge reserve energy - EER  3,159  6,787  (53.5) 
(-) PIS/Pasep/Cofins taxes on charges for use of power grid  (15,544)  (18,933)  (17.9) 
TOTAL  152,077  172,317  (11.7) 

(iii) in the first quarter of 2013, the “personnel and management” line totaled R$ 241.5 million, 6.3% up on 2012. This was driven by: (a) the wage increase of 5.6% as of October 2012, and (b) and the 0.6% headcount increase in the period;

(iv) the 5.8% upturn in the “pension and healthcare plans” line, which reflects the accrual of liabilities on the private pension and healthcare plans, calculated according to the criteria set by CVM Resolution 695/2012, chiefly due to the upturn in costs related to private pension and healthcare plans, which reflected the wage increase in the period ;

(v) the 17.1% increase in “material and supplies”, mainly reflecting higher purchases of material for the electrical system and fuel and vehicle parts;

(vi) the “materials and supplies for power eletricity” line includes expenses with the acquisition of coal for the Figueira Thermal Power Plant;

(vii) the 25.1% upturn in “natural gas and supplies for the gas business", following higher prices for the natural gas acquired by Compagas to supply third parties, adjusted mainly due to the depreciation of the Brazilian currency, and the adjustment of the oil basket, which determines the gas acquisition price;

(viii) the 3.3% decrease in “third-party services”, largely due to lower expenses with maintenance of the electrical system and consulting services;

(ix) “acruals and provisions” totaled R$ 19.5 million in the period, mainly related to provisions for losses with customers and provisions related to labor claims, partially offset by reversals in tax;  

(x) the "construction cost” line was 88.5% up and reflected the investments in power distribution and transmission in the period; and

(xi) the 12.0% increase in “other costs and expenses” was due to (a) higher leasing and rental expenses, (b) higher losses from the deactivation and sale of assets, and (c) increased costs with financial compensation due to higher hydro power generation in the period.

7

 


 

 

      R$ '000 
Operating Costs and Expenses  1Q13
   (1)
 
 
1Q12 
   (2)
Var.% 
(1/2)
Electricity purchased for resale  841,702  603,549  39.5 
Use of main distribution and transmission grid  152,077  172,317  (11.7) 
Personnel and management  241,499  227,186  6.3 
Pension and healthcare plans  42,134  39,831  5.8 
Materials and supplies  17,880  15,263  17.1 
Materials and supplies for power  4,261  5,070  (16.0) 
Natural gas and supplies for the gas business  62,311  49,801  25.1 
Third-party services  91,387  94,512  (3.3) 
Depreciation and amortization  146,841  141,144  4.0 
Provisions and reversals  19,536  67,745  (71.2) 
Construction cost  194,798  103,322  88.5 
Other operational expenses  67,525  60,292  12.0 
TOTAL  1,881,951  1,580,032  19.1 

2.3 Equity in the Results of Investees

Equity in the results of investees reflects gains and losses from investments in Copel's investees. In the first quarter of 2013, equity in the earnings of investees totaled R$ 19.6 million, comprising gains of R$ 18.1 million from Dominó Holdings (Sanepar), R$ 2.0 million from Dona Francisca Energética, R$ 1.9 million from Foz do Chopim Energética and a R$ 3.2 million loss from Sercomtel Telecom.

2.4 EBITDA

In the first quarter of 2013, EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 664.9 million, 10.4% higher than the R$ 602.1 million reported in the same period in the previous year.

2.5 Financial Results

Financial revenues increased by 13.8%, totaling R$ 146.0 million, chiefly due to the monetary restatement on indemnifications related to the extension of transmission concessions (adjusted by the IPCA consumer price index plus regulatory WACC of 5.59% p.y.).

Financial expenses totaled R$ 72.1 million, 36.2% lower year on year, chiefly due to the non-recurring effect in the same period in the previous year, when R$ 42.6 million were recorded under financial expenses as a result of the remeasurement of the fair value of Copel Distribuição’s financial assets, due to changes in useful life estimates, pursuant to Aneel Resolution 474/12.

2.6 Consolidated Net Income

In the first quarter of 2013, Copel recorded net income of R$ 398.7 million, 24.7% up on the same period of 2012 (R$ 319.8 million).

8

 


 

 

3. Balance Sheet and Investment Program

The main lines and variations are described below. Please refer to the notes in our Quarterly Information (ITRs) for additional information.

3.1 Assets

On March 31, 2013, Copel’s assets totaled R$ 21,438.7 million, 1.0% up on December 31, 2012.

3.1.1 Cash, Cash Equivalents and Financial Investments

On March 31, 2013, the cash, cash equivalents and financial investments of Copel’s wholly owned subsidiaries and controlled companies totaled R$ 1,857.0 million and were mostly invested in Bank Deposit Certificates (CDBs) and repo transactions. The investments earned an average yield of 101.9% of the Interbank Deposit Certificate (CDI rate) variation in the period.

3.1.2 CRC Transferred to the State of Paraná            

Through the fourth addendum signed on January 21, 2005, the Company renegotiated the CRC balance on December 31, 2004 with the State of Paraná at R$ 1,197.4 million, in 244 monthly installments recalculated by the price amortization system, updated by the IGP-DI inflation index plus annual interest of 6.65%. The first installment was due on January 30, 2005, with subsequent and consecutive maturities. The current CRC balance is R$ 1,376.4 million.

The State of Paraná has been paying the renegotiated installments pursuant to the fourth addendum, whose amortizations are guaranteed by dividends.

3.1.3 Accounts Receivable Related to the Extension of the Concession

Following Copel’s acceptance of the conditions established by the government agency for the anticipation of the extension of the transmission assets (Provisional Measure 579), on November 01, 2012, through Ordinances 578 and 579 and Interministerial Ordinance 580, the Ministry of Mines and Energy announced, in addition to the new APR, the indemnification the Company is entitled to under Transmission Concession Agreement 060/2001, in the amount of R$ 893.9 million (considering only the assets that began operating after May 2000). With the enactment of Law 12,783, on January 11, 2013, the government agency reconsidered the right of indemnification for the assets existing on May 31, 2000; however, the indemnification amount has not yet been set. Management assessed these assets using the new replacement value methodology and expects to receive R$ 160.2 million. On March 31, the amount recorded in this account was R$ 981.9 million due to amortizations and monetary restatement in the period.

 

9

 


 

 

 

                                                                                                                                                                                                  

3.2 Liabilities and Shareholders’ Equity

3.2.1 Debt

Copel’s consolidated debt totaled R$ 3,266.1 million on March 31, 2013, representing 25.6% of the consolidated shareholders’ equity, which closed March 31, 2013 at R$ 12,757.4 million, 2.1% higher than on December 31, 2012 and equivalent to R$ 46.62 per share (book value per share).

The breakdown of loans, financing and debentures is shown in the table below:

 

          R$'000 
      Short-term  Long-term  Total 
   

National Treasury 

3,944  55,216  59,160 
  Foreign Currency 

Eletrobras 

6  5  11 
   

Total 

3,950  55,221  59,171 
   

Eletrobras - COPEL 

54,327  166,750  221,077 
   

FINEP 

2,920  38,669  41,589 
  Domestic Currency 

BNDES/ Banco do Brasil S/A - Mauá 

32,708  347,483  380,191 
   

Banco do Brasil S/A and other 

412,628  1,121,935  1,534,563 
   

Debentures 

31,482  998,070  1,029,552 
   

Total 

534,065  2,672,907  3,206,972 
TOTAL      538,015  2,728,128  3,266,143 

 

Loan, financing and debenture maturities are presented below:

 

            R$'000 
    Short-Term
Apr/13 - Mar/14 
Apr/14 - Dec/14  Long -Term     
2015  2016  2017  After 2017 
Domestic Currency  534,065  473,361  594,854  757,721  544,407  302,564 

Foreign Currency 

3,950  1,354  -  -  -  53,867 
TOTAL  538,015  474,715  594,854  757,721  544,407  356,431 

 

The history of 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:

 

 

10

 


 
 

 

                                                                                                                                                                                                  

3.2.2 Payables 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.

 

        R$'000 
  Elejor  Mauá  Colíder Total 
Current liabilities  47,593  893  -  48,486 
Noncurrent liabilities  374,405  12,324  15,734  402,463 

3.2.3 Provision for Legal Claims

The Company is involved in a series of lawsuits in different courts and instances. Copel’s management, based on its legal advisors’ opinion, maintains a provision for legal claims for those cases assessed as probable losses.

The balances of the provision for legal claims are as follows:

 

      R$ '000 
Consolidated Mar/13
(1) 
Mar/12
(2) 
Var %
(1 / 2) 
Tax  288,289  297,284  (3.0) 
Labor suits  164,717  123,790  33.1 
Employees and Benefits  73,064  58,194  25.6 
Civil  579,292  519,158  11.6 
Suppliers  67,844  87,398  (22.4) 
Civil and administrative claims  168,020  138,264  21.5 
Easements  6,695  5,385  24.3 
Condemnations and property  328,806  278,419  18.1 
Customers  7,927  9,692  (18.2) 
Environmental claims  204  125  63.2 
Regulatory  50,941  48,313  5.4 
TOTAL  1,156,507  1,046,864  10.5 

 

The cases classified as possible losses, as estimated by the Company and its controlled companies at the end of the year totaled R$ 2,453.6 million distributed in lawsuits of the following natures: tax- R$ 1,270.7 million; civil - R$ 860.5 million; labor - R$ 260.9 million; employee benefits - R$ 41.4 million; and regulatory - R$ 20.1 million.

 

11

 


 

 

 

                                                                                                                                                                                                  

3.3 Investment Program

Copel’s investments in the first quarter of 2013 and the maximum investment forecast for 2013 are presented below:

  

    R$ million 
   Carried out
1T13 

Scheduled
2013 

Generation and Transmission*  80.9 

866.5 

HPP Colider  51.5 

449.0 

SHP Cavernoso II  7.7 

8.3 

TL Araraquara/ Taubaté  1.2 

132.8 

SE Cerquilho  0.6 

37.8 

Other  19.9 

238.6 

Distribution  176.8 

986.4 

Telecommunications  12.7 

69.9 

TOTAL  270.4 

1,922.8 

* Includes project won by Copel at Auction 007/2012 (lot B), held by Aneel on 12/19/2012, after the approval of the budget by the 139th Ordinary Board of Directors Meeting.

Copel’s investments in new businesses (São Bento Energia, Cutia Empreendimentos Eólicos, Costa Oeste Transmissora, Marumbi Transmissora, Transmissora Sul Brasileira, Caiuá Transmissora, Integração Maranhense Transmissora, Matrinchã Transmissora de Energia, Guaraciaba Transmissora de Energia and Paranaíba Transmissora) was R$ 89.8 million. The forecast investments in new businesses in 2013 total R$ 647.4 million.

4. Shareholding Structure

On March 31, 2013, paid-up capital stock totaled R$ 6,910.0 million. The classes of shares (with no par value) and main shareholders are presented below:

 

Shareholders  Common  % Preferred "A"  %  Preferred "B"  %  TOTAL  %
State of Paraná  85,029  58.6  -  -  14  -  85,043  31.1 
BNDESPAR  38,299  26.4  -  -  27,282  21.3  65,581  23.9 
Eletrobras  1,531  1.1  -  -  -  -  1,531  0.6 
Free Floating  19,621  13.5  129  33.9  100,906  78.7  120,656  44.1 
BM&FBovespa  19,516  13.4  129  33.9  60,405  47.1  80,050  29.2 
NYSE  105  0.1  -  -  40,438  31.6  40,543  14.8 
   LATIBEX  -  -  -  -  63  0.1  63  - 
Other  551  0.4  252  66.1  41  -  844  0.3 
TOTAL  145,031  100.0  381  100.0  128,243  100.0  273,655  100.0 

   

 

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5. Consolidated Financial Statements

5.1 Assets

 

      R$'000 
Assets Mar/13
(1) 
Dec/12
(2) 
Var.%
(1/2) 
CURRENT  4,846,388  4,681,692  3.5 
Cash and cash equivalents  1,206,096  1,459,217  (17.3) 
Bonds and securities  500,997  635,501  (21.2) 
Collaterals and escrow accounts  33,471  36,808  (9.1) 
Customers  1,704,435  1,489,173  14.5 
Dividends receivable  18,084  18,064  0.1 
CRC transferred to the State Government of Paraná  77,322  75,930  1.8 
Account receivable related to concession  4,159  5,319  (21.8) 
Accounts receivable related to the concession extension  352,161  356,085  (1.1) 
Other current receivables  542,200  234,951  130.8 
Inventories  135,225  124,809  8.3 
Income tax and social contribution  177,489  191,544  (7.3) 
Other current recoverable taxes  71,306  49,490  44.1 
Prepaid expenses  23,443  4,801  388.3 
NON-CURRENT  16,592,358  16,548,766  0.3 
Long Term Assets  6,287,984  6,297,317  (0.1) 
Bonds and securities  149,869  128,515  16.6 
Collaterals and escrow accounts  42,617  43,246  (1.5) 
Customers  18,610  26,171  (28.9) 
CRC transferred to the State Government of Paraná  1,299,073  1,308,354  (0.7) 
Judicial deposits  582,803  574,371  1.5 
Account receivable related to concession  2,707,659  2,645,826  2.3 
Accounts receivable related to the concession extension  629,765  717,805  (12.3) 
Other non-current receivables  20,057  22,728  (11.8) 
Income tax and social contribution  14,155  19,995  (29.2) 
Other non-current recoverable taxes  117,344  120,189  (2.4) 
Deferred income tax and social contribution  705,820  681,285  3.6 
Prepaid expenses  212  8,832  (97.6) 
Investments  675,653  590,544  14.4 
Property, plant and equipment, net  7,802,018  7,871,753  (0.9) 
Intangible assets  1,826,703  1,789,152  2.1 
TOTAL  21,438,746  21,230,458  1.0 

 

13

 


 

 

 

                                                                                                                                                                                                  

5.2 Liabilities

 

Liabilities Mar/13
(1) 
Dec/12
(2) 
Var.%
(1/2) 
CURRENT  2,957,105  2,833,444  4.4 
Payroll, social charges and accruals  328,725  384,008  (14.4) 
Suppliers  1,219,199  1,131,782  7.7 
Income tax and social contribution payable  199,415  170,189  17.2 
Other taxes due  185,813  288,480  (35.6) 
Loans, financing and debentures  538,015  274,009  96.3 
Minimum compulsory dividend payable  110,673  204,780  (46.0) 
Post employment benefits  25,803  25,819  (0.1) 
Customer charges due  40,383  56,498  (28.5) 
Researchand developmentandenergye ciency  154,900  159,599  (2.9) 
Accounts Payable related to concession - Use of Public Property  48,486  48,477  - 
Other accounts payable  105,693  89,803  17.7 
NON-CURRENT  5,724,287  6,013,569  (4.8) 
Suppliers  86,972  100,908  (13.8) 
Deferred income tax and social contribution  544,070  590,536  (7.9) 
Loans and financing  2,728,128  2,987,546  (8.7) 
Post employment benefits  686,220  675,230  1.6 
Research and development and energy efficiency  119,927  104,561  14.7 
Accounts Payable related to concession - Use of Public Property  402,463  399,080  0.8 
Tax, social security, labor and civil provisions  1,156,507  1,155,708  0.1 
EQUITY  12,757,354  12,383,445  3.0 
Attributed to controlling shareholders  12,486,064  12,118,939  3.0 
Share capital  6,910,000  6,910,000  - 
Equity valuation adjustments  1,187,384  1,235,949  (3.9) 
Legal reserves  571,221  571,221  - 
Retained earnings  3,337,295  3,337,295  - 
Additional proposed dividends  64,474  64,474  - 
Accrued earnings  415,690  -  - 
Attributable to non-controlling interest  271,290  264,506  2.6 
TOTAL  21,438,746  21,230,458  1.0 

 

 

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5.3 Income Statement

 

      R$'000 
Income Statement 1Q13
(1) 
1Q12
(2)
var %
(1/2) 
OPERATING REVENUES  2,380,410  2,024,638  17.6 
Electricity sales to final customers  771,195  608,182  26.8 
Electricity sales to distributors  724,767  421,031  72.1 
Use of the main distribution and transmission grid  513,000  749,078  (31.5) 
Construction revenue  181,191  105,194  72.2 
Revenues from telecommunications  32,702  30,845  6.0 
Distribution of piped gas  79,221  69,833  13.4 
Other operating revenues  78,334  40,475  93.5 
Operating costs and expenses  (1,881,951)  (1,580,032)  19.1 
Electricity purchased for resale  (841,702)  (603,549)  39.5 
Use of main distribution and transmission grid  (152,077)  (172,317)  (11.7) 
Personnel and management  (241,499)  (227,186)  6.3 
Pension and healthcare plans  (42,134)  (39,831)  5.8 
Materials and supplies  (17,880)  (15,263)  17.1 
Materials and supplies for power  (4,261)  (5,070)  (16.0) 
Natural gas and supplies for the g s business  (62,311)  (49,801)  25.1 
Third-party services  (91,387)  (94,512)  (3.3) 
Depreciation and amortization  (146,841)  (141,144)  4.0 
Provisions and reversals  (19,536)  (67,745)  (71.2) 
Construction cost  (194,798)  (103,322)  88.5 
Other operational expenses  (67,525)  (60,292)  12.0 
EQUITY IN EARNINGS OF SUBSIDIARIES  19,608  16,361  19.8 
PROFIT BEFORE FINANCIAL RESULTS AND TAXES  518,067  460,967  12.4 
FINANCIAL RESULTS  73,899  15,276  383.8 
Financial income  146,033  128,288  13.8 
Financial expenses  (72,134)  (113,012)  (36.2) 
OPERATIONAL EXPENSES/ INCOME  591,966  476,243  24.3 
INCOME TAX AND SOCIAL CONTRIBUTION ON PROFIT  (193,310)  (156,498)  23.5 
Income tax and social contribution on profit  (262,667)  (193,330)  35.9 
Deferred income tax and social contribution on profit  69,357  36,832  88.3 
NET INCOME (LOSS)  398,656  319,745  24.7 
Attributed to controlling shareholders  391,872  314,125  24.8 
Attributed to non-controlling interest  6,784  5,620  20.7 
EBITDA  664,908  602,111  10.4 

 

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5.4 Cash Flow

 

    R$'000 
Consolidated Cash Flow  1Q13  1Q12 
Cash flow from operating activities     
Net income for the period  398,656  319,745 
Adjustments to reconcile net income with the cash provided by operating activities  416,491  402,988 
Depreciation  88,989  84,957 
Amortization of intangible assets - concession  55,786  55,714 
Amortization of intangible assets - other  2,065  473 
Unrealized monetary and exchange variations, net  (4,209)  26,846 
Accounts receivable tied to the concession fair value´s update  -  42,569 
Remuneration of accounts receivable related to the concession  (5,163)  (79,219) 
Equity in earnings of subsidiaries  (19,608)  (16,361) 
Income Tax and Social Contribution  262,667  193,330 
Deferred Income Tax and Social Contribution  (69,357)  (36,832) 
Provision for doubtful accounts  13,100  15,413 
Provision for tax credit losses  (533)  (331) 
Provision (reversal) for legal claims  6,969  52,663 
Provisions for post employment benefits  45,353  42,772 
Provision for research and development and energy efficiency  21,933  19,002 
Write off of intangible assets related to concession - goodwill  14,847  1,630 
Write off of property, plant, and equipment  578  10 
Write off of intangible assets  3,074  352 
Decrese (increase) in assets  (166,691)  (174,478) 
Increase (reduction) of liabilities  (657,062)  (502,085) 
Net cash generated by operating activities  (8,606)  46,170 
Cash flow from investing activities     
Bonds and securities  112,396  61,164 
Additions in investments  (89,789)  (9,034) 
Additions to property, plant, and equipment  (10,201)  (216,804) 
Additions to intangible assets related to the concessions  (194,542)  (147,239) 
Additions to other intangible assets  656  2,054 
Customer contributions  32,196  (1,229) 
Net cash generated (used) by investing activities  (149,284)  (311,088) 
Cash flow from financing activities     
Loans and financing obtained  12,665  44,723 
Amortization of principal amounts of loans and financing  (13,789)  (8,856) 
Dividends and interest on own capital paid  (94,107)  - 
Net cash used by financing activities  (95,231)  35,867 
Increase (decrease) in cash and cash equivalents  (253,121)  (229,051) 
Cash and cash equivalents at the beginning of the year  1,459,217  1,048,446 
Cash and cash equivalents at the end of the year  1,206,096  819,395 
Variation in cash and cash equivalents  (253,121)  (229,051) 

 

 

 

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6. Financial Statements – Wholly Owned Subsidiaries

6.1 Assets

 

      R$'000 
Assets  GeT  DIS  TEL 
CURRENT  1,528,537  2,757,293  80,703 
Cash and cash equivalents  228,665  863,660  30,857 
Bonds and securities  129,251  177,188  - 
Collaterals and escrow accounts  4,317  27,989  - 
Customers  640,442  1,026,229  26,612 
Dividends receivable  20  -  - 
CRC transferred to the State Government of Paraná  -  77,322  - 
Account receivable related to concession  4,159  -  - 
Accounts receivable related to the concession extension  352,161  -  - 
Other current receivables  112,574  389,697  2,785 
Inventories  30,406  93,667  10,264 
Income tax and social contribution  10,198  41,246  6,909 
Other current recoverable taxes  14,742  45,961  3,077 
Prepaid expenses  1,602  14,334  199 
NON-CURRENT  8,210,284  6,106,706  365,662 
Long Term Assets  1,070,474  4,759,687  21,885 
Bonds and securities  98,868  51,001  - 
Collaterals and escrow accounts  -  42,617  - 
Customers  -  18,610  - 
CRC transferred to the State Government of Paraná  -  1,299,073  - 
Judicial deposits  26,824  282,819  1,034 
Account receivable related to concession  261,455  2,446,204  - 
Accounts receivable related to the concession extension  629,765  -  - 
Other receivables  2,785  4,752  - 
Other current recoverable taxes  50,777  58,515  8,052 
Deferred income tax and social contribution  -  556,096  12,799 
Investments  530,217  4,012  - 
Property, Plant and Equipment, net  6,567,217  -  324,052 
Intangible Assets  42,376  1,343,007  19,725 
TOTAL  9,738,821  8,863,999  446,365 

            GeT: Copel Geração e Transmissão, DIS: Copel Distribuição, TEL: Copel Telecomunicações

 

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6.2 Liabilities

 

      R$'000 
Liabilities  GeT  DIS  TEL 
CURRENT  1,336,457  2,874,670  48,392 
Social charges and accruals  94,200  206,855  22,195 
Associated companies and parent company  -  868,289  - 
Suppliers  246,781  938,731  11,084 
Income Tax and Social Contribution payable  196,364  -  1,485 
Other taxes  19,707  157,825  3,274 
Loans and financing and debentures  71,235  199,291  960 
Minimum compul sary dividend payable  635,489  253,863  7,982 
Post employment benefits  6,819  18,107  877 
Customer charges due  24,292  16,091  - 
Research and development and energy efficiency  14,373  138,910  - 
Payables related to concession - Use of Publ ic Property  893  -  - 
Other accounts payable  26,304  76,708  535 
NON-CURRENT  1,830,399  2,522,364  58,199 
Suppliers  90,922  -  - 
Deferred income tax and social contribution  541,157  -  - 
Loans, and financing and debentures  423,301  1,610,977  37,205 
Post-employment benefits  212,430  451,149  19,834 
Research and development and energy efficiency  47,672  72,255  - 
Payables related to the concession - Use of Public Property  28,058  -  - 
Tax,social security, labor and civil provisions  486,859  387,983  1,160 
EQUITY  6,571,965  3,466,965  339,774 
Attributed to controlling shareholders       
Capital  3,505,994  2,624,841  240,398 
Equity valuation adjustments  1,265,158  65,638  1,139 
Legal Reserves  247,134  135,294  6,706 
Retained earnigs  1,123,315  840,155  79,902 
Accrued earnings (losses)  430,364  67,687  11,629 
TOTAL  9,738,821  8,863,999  446,365 

      GeT: Copel Geração e Transmissão, DIS: Copel Distribuição, TEL: Copel Telecomunicações

 

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6.3 Income Statement

 

      R$'000 
Income Statement  GeT  DIS  TEL 
Net Operating Income  868,331  1,399,537  45,219 
Electricity sales to final customers  103,089  668,767  - 
Electricity sales to distributors  726,726  24,453  - 
Charges for the use of the main transmission grid (TUSD/ TUST)  35,487  496,356  - 
Construction revenue  (4,515)  176,082  - 
Revenues from telecommunications  -  -  43,537 
Other operating revenues  7,544  33,879  1,682 
Operating costs and expenses  (303,222)  (1,551,005)  (28,109) 
Energy purchased for resale  (29,905)  (877,740)  - 
Charges from use of grid system  (50,860)  (114,310)  - 
Personnel and management  (55,585)  (166,174)  (11,618) 
Private pension and health plans  (10,696)  (28,993)  (1,932) 
Materials  (3,096)  (14,013)  (380) 
Raw material and supplies - energy production  (3,279)  -  - 
Third-party services  (20,883)  (72,156)  (4,229) 
Depreciation and amortization  (70,793)  (50,078)  (7,299) 
Provisions and reversals  (13,156)  (29,299)  (311) 
Construction cost  (9,092)  (176,082)  - 
Other operating costs and expenses  (35,877)  (22,160)  (2,340) 
EQUITY IN EARNINGS OF SUBSIDIARIES  10,622  -  - 
PROFIT BEFORE FINANCIAL RESULTS AND TAXES  575,731  (151,468)  17,110 
Financial Income (expenses)  33,588  50,945  485 
Earnings before income taxes  609,319  (100,523)  17,595 
Operational Profit  (248,202)  -  (5,867) 
Deferred income tax and social contribution  45,429  32,836  (99) 
Net Income  406,546  (67,687)  11,629 
EBITDA  646,524  (101,390)  24,409 

       GeT: Copel Geração e Transmissão, DIS: Copel Distribuição, TEL: Copel Telecomunicações

 

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7. Power Market

Copel’s electricity sales to final customers, composed of captive market sales by Copel Distribuição and free market sales by Copel Geração e Transmissão, was up 8.9% between January and March. The captive market was down 2.3% and accounted for 5,776 GWh of consumption, while Copel Geração e Transmissão’s free market sales were up 216.7%, accounting for 1,009 GWh of consumption for the period.

 

    Energy Sold (GWh)   
  1Q13  1Q12  % 
Captive Market - Copel Distribuição  5,776  5,912  (2.3) 
Free Customers - Copel GeT  1,009  319  216.7 
Energy Supply  6,785  6,231  8.9 

7.1 Captive Market

The residential segment consumed 1,726 GWh, up 4.3%, due mainly to the 3.4% increase in the number of residential consumers and the 0.9% increase in average consumption, due to rising incomes levels and the continued high levels of employment during the period. At the end of March, this segment accounted for 29.9% of Copel’s captive market, totaling 3,223,968 residential customers.

Consumption in the industrial segment dropped 12.7%, totaling 1,602 GWh in 1Q13. This result was mainly brought about by (i) the migration of large industrial customers to the free market, (ii) the decline in industrial production in industries such as printing and publishing, pulp and paper, oil refining and ethanol production, and (iii) by the lower number of working days in relation to the same period last year. At the close of the period, the industrial segment represented 27.7% of Copel’s captive market, with a total of 88,533 industrial customers.

The commercial class consumed 1,324 GWh and remained stable for the period, given that the rise in consumption resulting from the 2.7% increase in the number of customers was offset by the lower number of working days in relation to the same period last year. At the end of March, this segment represented 22.9% of Copel’s captive market, with a total of 330,281 customers.

The rural segment consumed 572 GWh and grew 3.4%, due to the strong performance of the agribusiness sector in Paraná at the start of 2013. At the end of March, this segment represented 9.9% of Copel’s captive market, with a total of 372,888 rural customers.

The other segments (public agencies, public lighting, public services and own consumption) consumed 522 GWh, up 1.2% for the period. Taken together, these segments represented 9.6% of Copel’s captive market, totaling 54,569 customers at the end of the period.

 

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The table below shows the captive market for each consumption segment:

 

      GWh 
  Segment  1Q13
(1)
1Q12
(2)
Var. %
(1/2)
Residential  1,726  1,654  4.3 
Industrial  1,602  1,835  (12.7) 
Commercial  1,324  1,324  - 
Rural  572  553  3.4 
Other  552  546  1.2 
Captive Segment Total  5,776  5,912  (2.3) 

7.2 Grid Market (TUSD)

Copel Distribuição’s grid market, comprising the captive market, concessionaries and licensees (other utilities within the State of Paraná) and all free customers within the Company’s concession area, grew 2.5%, as shown by the following table:

 

GWh 
1Q13
(2)
1Q12
(1/2)
Var. %
(1/2)
Captive Market  5,776  5,912  (2.3) 
Concession and permi ssion holders  157  149  5.0 
Free Customers (*)  946  652  45.1 
Grid Market  6,879  6,713  2.5 
* Total free customers supplied by COPEL GeT and other suppliers w ithin COPEL DIS’ concession area.

 

7.3 Energy Flow

Copel Consolidated

 

      GWh 
  1Q13  1Q12  Var.% 
Own Generation  4.898  4.780  2,5 
Purchased energy  8.719  7.682  13,5 
Itaipu  1.257  1.295  (2,9) 
Auction – CCEAR  4.381  4.913  (10,8) 
Itiquira  228  231  (1,3) 
Dona Francisca  151  153  (1,3) 
CCEE (MCP)  606  344  76,2 
MRE  1.668  302  452,3 
Proinfa  135  148  (8,8) 
Elejor  293  296  (1,0) 
Total Available Power  13.617  12.462  9,3 
Captive Market  5.776  5.912  (2,3) 
Concessionaires*  111  149  (25,5) 
Free Customers  1.009  319  216,3 
Bilateral Agreements  1.478  249  493,6 
Auction – CCEAR  1.915  3.859  (50,4) 
CCEE (MCP)  1.852  -  - 
MRE  628  900  (30,2) 
Losses and Differences  848  1.074  (21,0) 
Basic network losses  237  311  (23,8) 
Distribution losses  559  696  (19,7) 
CG contract allocation  52  67  (22,4) 

* Not including the 46 GWh consumed by the Concessionaire CFLO in February and March, for it was not supplied by Copel Distribuição.
Amounts subject to changes after settlement by CCEE
CCEAR: Energy Purchase Agreements in the Regulated Market
MRE: Energy Reallocation Mechanism
CCEE (MCP): Electric Pow er Trade Chamber (Short-term market)

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Copel Geração e Transmissão

 

      GWh 
  1Q13  1Q12  Var. % 
Own Generation  4,898  4,780  2.5 
CCEE (MCP)  283  208  36.1 
MRE  1,668  302  - 
Dona Francisca  151  153  (1.3) 
Total Available Power  7,000  5,443  28.6 
Bilateral Agreements  1,478  249  493.4 
CCEAR – COPEL Distribuição  231  347  (33.4) 
CCEAR – Other  1,684  3,512  (52.1) 
Free Customers  1,009  319  216.7 
CCEE (MCP)  1,852  -  - 
MRE  628  900  (30.2) 
Losses and differences  118  116  1.7 
Values subject to rounding adjustments.

Copel Distribuição

 

      GWh 
  1Q13  1Q12  Var. % 
Itaipu  1,257  1,295  (2.9) 
CCEAR – COPEL Geração e Transmissão  231  347  (33.4) 
CCEAR – Other  4,150  4,507  (7.9) 
CCEAR - Adjustment auction  -  59  - 
CCEE (MCP)  323  136  137.3 
Itiquira  228  231  (1.3) 
Proinfa  135  148  (8.8) 
Elejor S.A  293  296  (1.0) 
Available Power  6,617  7,019  (5.7) 
Captive market  5,776  5,912  (2.3) 
Wholesale  111  149  (25.5) 
Losses and differences  730  958  (23.8) 
Basic network losses  119  195  (39.0) 
Distribution losses  559  696  (19.7) 
CG contract allocation  52  67  (22.4) 
Values subject to rounding adjustments.

 

 

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8. Supplementary Information

8.1 Tariffs

Power Purchase Average Tariff

 

            R$/MWh 
Tariff  Amount  Mar/13  Dec/12  Mar/12  Var. %  Var. % 
  Average MW  (1)  (2)  (3)  (1/2)  (1/3) 
Itaipu (1)  565  109.51  107.63  96.83  1.7  13.1 
Auction – CCEAR 2006 – 2013  812  99.16  97.67  92.97  1.5  6.7 
Auction – CCEAR 2007 – 2014  54  138.79  139.38  132.76  (0.4)  4.5 
Auction – CCEAR 2008 – 2015  52  117.19  117.36  111.75  (0.1)  4.9 
Auction – CCEAR 2010 – H30  72  157.90  157.90  150.39  0.0  5.0 
Auction – CCEAR 2010 – T15 (2)  67  167.19  167.19  159.24  0.0  5.0 
Auction – CCEAR 2011 – H30  58  162.11  162.11  154.40  0.0  5.0 
Auction – CCEAR 2011 – T15 (2)  54  184.34  184.34  175.58  0.0  5.0 
Auction – CCEAR 2012 – T15 (2)  115  165.37  165.37  157.51  0.0  5.0 
Angra  120  133.11  -  -  -  - 
CCGF (3)  136  30.07  -  -  -  - 
Santo Antônio  53  100.48  100.48  -  -  - 
Jirau  122  71.37  -  -  -  - 
Others Auctions (4)  415  160.01  156.20  155.56  2.4  2.9 
Bilaterals  239  169.01  163.77  160.12  3.2  5.6 
Total/Tariff Average Supply  2,935  121.99  115.08  109.37  6.0  11.5 

(1) Furnas transport charge not included.
(2) Average auction price restated according to the IPCA inflation index. The price comprises in fact three components: a fixed component, a variable component, and expenses at the Electric Energy Trading Chamber (CCEE). The cost of the latter two components is dependent upon the dispatch of facilities according to the schedule set by the National System Operator (ONS).
(3) Contract of quotas of assured power of those HPPs which concessions were extended pursuant the new rules of Law 12,783/1 .
(4) Products average price.

 

Sales to Final Customers (Retail) Average Tariff – without ICMS

 

          R$/MWh 
  Mar/13  Dec/12  Mar/12  Var %  Var % 
Tariff  (1)  (2)  (3)  (1/2)  (1/3) 
Industrial*  191.08  220.00  211.24  (13.1)  (9.5) 
Residential  242.54  293.62  299.49  (17.4)  (19.0) 
Commercial  217.61  265.67  263.58  (18.1)  (17.4) 
Rural  146.89  178.04  177.02  (17.5)  (17.0) 
Other  169.45  206.89  206.18  (18.1)  (17.8) 
Retail distribution average rate  205.68  245.80  243.60  (16.3)  (15.6) 
* Free customers not included

 

Sales to Distributors Average Tariff

 

            R$/MWh 
Tariff  Amount  Mar/13  Dec/12  Mar/12  Var. %  Var. % 
  Average MW  (1)  (2)  (3)  (1 / 2)  (1 / 3) 
Auction CCEAR 2006 - 2013  360  98.42  98.27  93.27  0.2  5.5 
Auction CCEAR 2007 - 2014  81  109.93  112.82  104.37  (2.6)  5.3 
Auction CCEAR 2008 - 2015  81  116.50  116.77  110.66  (0.2)  5.3 
Auction CCEAR 2009 - 2016  249  133.03  132.92  126.40  0.1  5.2 
Auction CCEAR 2011 - 2040  105  151.81  -  -  -  - 
Concession holders in the State of Paraná  51  135.25  147.65  132.46  (8.4)  2.1 
Total/ Tariff Average Supply  927  118.38  98.69  87.96  20.0  34.6 

 

 

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8.2 Main Operational and Financial Indicators

March 31, 2012

 

 

   

Generation

 

Copel GeT power plants

20 (18 hydro, 1 thermal and 1 wind power plant)

Power plants in which Copel holds an interest

06 (5 hydro and 1 thermal power plant)

Copel GeT’s total installed capacity

4,737 MW

Installed capacity of Copel’s corporate partnerships (1)

606 MW

Copel GeT’s automated and remote-controlled power plants

13

Copel’s corporate partnerships’

 

automated and remote-controlled power plants

3

Transmission

 

Transmission lines

2,173 km

Substations

32

Installed capacity of substations

10,902 MVA

Distribution

 

Distribution networks and lines

186,652 km

Substations

361 (100% automated)

Installed capacity of substations

10,099 MVA

Number of municipalities served

395(2)

Number of localities served

1,115

Number of captive customers

4.0 million

DEC (outage duration per customer, in hours and hundredths of an hour)

3

FEC (outage frequency per customer)

2.3 times

Telecommunications

 

Fiber optic cables – main ring (interurban)

9,325 km

Self-sustained fiber optic cables (urban)

20,262 km

Number of municipalities served in Paraná

399

Number of municipalities served in Santa Catarina

2

Number of customers

3,998

Administration

 

Employees (wholly-owned subsidiaries)

9,436

Copel Geração e Transmissão

1,818

Copel Distribuição

7,163

Copel Telecomunicações

455

Customers by employee (Copel Distribuição)

568

Financial

 

Book value per share

R$ 46.62 per share

EBITDA

R$ 664.9 million

Current liquidity ratio

1.7

 

 

Note:

(1)Proportional to the interest.

(2)3 partially served municipalities in the rural area.

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8.3 1Q13 Results Conference Call

Copel will hold its 1Q13 results conference call:

>      Friday, May 17, 2013, at 09:00 a.m. (US EST)

>      Telephone: (+1 516)300 1066

>      Code:  Copel

A live webcast of the conference call will be available at: www.copel.com/ir 

Please connect 15 minutes before the call.

Investor Relations – Copel

ri@copel.com

Telephone: (55 41) 3222-2027

Fax:(55 41) 3331-2849

 

The information contained in this press release may contain forward-looking statements that reflect 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, future operations, the implementation of relevant operating and financing strategies, the investment program, factors or trends affecting the Company’s 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.

 

 

25

 

 
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: May 16, 2013
 
COMPANHIA PARANAENSE DE ENERGIA – COPEL
By:
/S/  Lindolfo Zimmer
 
Lindolfo Zimmer
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.