Post on 16-Jun-2019
transcript
Disclaimer
2
Any statements made during this event involving Copel’s business outlook or financial
and operating forecasts and targets constitute the beliefs and assumptions of the
Company’s Management, and the information currently available. Forward-looking
statements are not guarantees of performance and involve risks, uncertainties and
assumptions, given that they refer to future events, and thus are dependent on
circumstances that may or may not occur. The general economic conditions, industry
conditions and other operating factors could come to affect the future performance of
Copel and lead to results that are materially different from those expressed in said
forward-looking statements.
3
Companhia Paranaense de Energia - Copel
Head office: Curitiba/PR
62 years in the industry
Integrated Company - Generation, Transmission,
Distribution, Energy Trading and Telecommunication
Since 1994 on the BM&FBovespa
22 years of listing
19 years of listing on the NYSE
The first of the brazilian electric sector
Present in the European Union
14 years listed on Latibex
1On 01.19.2017 / US$1 = R$3.21
Agricultural 10.6% Industries
16.4%
Utilities 4.0%
Construction 5.6%
Commerce 15.9%
Services 47.5%
4
State of Paraná
Geographic Information
Area: 199,000 km2 (2.3% of the country)
Population: 11 million (5.5% of Brazil´s population)
Cities: 399
Economic Data
GDP 2014: R$ 358 billion (6% of Brazilian GDP)
GDP 2015: R$ 376 billion (6% of Brazilian GDP)
Breakdown by Income Segment
Companhia Paranaense de Energia - Copel
EBITDA Net income
5
5,682 MW of installed capacity in operation
30 Power Plants¹ and 11 Corporate partnerships
Addition of 737 MW until 2019
GENERATION
DISTRIBUTION More than 4.4 million customers
4th largest in number of costumers
3rd largest in electricity consumption (MWh)
3,874 km of lines² and 45 Substations³ in operation
Addition of 1,528 km of transmission lines until 2021
Concession renewed until 2042 (Contract 060/2001)
31,117 km of optical fiber
401 cities with optic fiber
64 cities with broadband for retail
TELECOMUNICATION
TRANSMISSION
BREAKDOWN BY OPERATING SEGMENT – 12 months4
4 Considers Adjusted Income
5 Estimated value. 6 Includes the sectors of telecom, water and sanitation and gas.
¹Considers the HPP GPS. ²Adjusted by Copel’s stake.
³Participation in 9 Substations.
Ger 63%
Tra5 8%
Dis 17%
Outros6 20%
Ger 71%
Tra5 10%
Dis 16%
Other6 3%
Organization Chart
Corporate Structure | Operating Performance | Financial Highlights | Capex
6
Generation Transmission Other
COPEL
COPEL Geração e Transmissão
100.0%
COPEL Distribuição
100.0%
COPEL Telecom 100.0%
COPEL Renováveis
100.0%
COPEL Comercialização
100.0%
Brisa Potiguar 100.0%
CUTIA 100.0%
São Miguel do Gostoso I
49.0%
Dois Saltos 30.0%
UEG Araucária 60.0%
Cruzeiro do Sul 51.0%
São Jerônimo 41.2%
Baixo Iguaçu 30.0%
Mata de Santa Genebra
50.1%
Matrinchã 49.0%
Guaraciaba 49.0%
Sul Brasileira 20.0%
Foz do Chopim 35.8%
Elejor 70.0%
Dona Francisca 23.0%
UEG Araucária 20.0%
COMPAGAS 51.0%
CARBOCAMPEL 49.0%
AMEC 48.0%
ESCOELECTRIC 40.0%
SERCOMTEL 45.0%
Paraná Gás 30.0%
SANEPAR 7.6%
Dominó Holding 49.0%
Paranaiba 24.5%
Cantareira 49.0%
Caiuá 49.0%
Integração Maranhense
49.0%
Costa Oeste 51.0%
Marumbi 80.0%
São Bento Energia 100.0%
21.2%
78.6%
0.2%
Preferred
BNDESPAR
Free Floating
Other
Capital Structure and Shareholders
Corporate Structure | Operating Performance | Financial Highlights | Capex
As of 09.30.2016
7
58.6%
26.4%
1.1%
13.7%
0.2%
Common
State of Paraná
BNDESPAR
Eletrobras
Free Floating
Other
Thousand shares
Shareholders Common % Preferred "A" % Preferred "B" % TOTAL %
State of Paraná 85,029 58.6 - - - - 85,029 31.0
BNDESPAR 38,299 26.4 - - 27,282 21.3 65,581 24.0
Eletrobras 1,531 1.1 - - - - 1,531 0.6
Free Floating 19,874 13.7 77 23.4 100,964 78.7 120,915 44.2
BM&FBovespa 18,610 12.8 77 23.4 64,949 50.6 83,636 30.6
NYSE 1,264 0.9 - - 35,932 28.0 37,196 13.6
LATIBEX - - - - 83 0.1 83 -
Other 298 0.2 252 76.6 49 - 599 0.2
TOTAL 145,031 100.0 329 100.0 128,295 100.0 273,655 100.0
8
86%
7%
1%
6% Copel 5,682 MW
Brazil 151,529 MW
Main Power Plants Installed
Capacity (MW) Assured Power (average MW)
Concession Expires
Gov. Bento Munhoz da Rocha Netto (Foz do Areia) 1,676 576 09.17.2023
Gov. Ney Aminthas de B. Braga (Segredo) 1,260 603 11.15.2029
Gov. José Richa (Salto Caxias) 1,240 605 05.04.2030
Mauá (1) 185 100 07.02.2042
Gov. Pedro V. Parigot de Souza (Capivari-Cachoeira) (2) 260 109 01.05.2046
(1) Relative by Copel's stake (51% of power plant capacity of 363 MW). (2) The energy generated by the plant will be allocated 100% in the physical guarantee of quota system in 2016, and 70% from 1 January 2017, and to that portion of energy, Copel GeT will not bear the hydrological risks or with the financial results of the MRE associated with the plant..
Installed Capacity
Power Generation Assets
Corporate Structure | Operating Performance | Financial Highlights | Capex
SHP TPP HPP WPP
61%
4%
28%
7%
R$ 171,02 R$ 171,74
R$ 152,92 R$ 152,92 R$ 152,92
R$ 167,65 R$ 168,33
R$ 147,07 R$ 147,07 R$ 147,07
24%
12% 12% 13% 13% 13%
60%
70% 49%
37% 32%
10%
16% 18%
39% 50% 55%
77%
2016 2017 2018 2019 2020 2021
Regulated Market Free Market Avaiable
R$ 174.92 R$ 172.02
R$ 172.28
R$ 160.07 R$ 163.91
9
Will be sold in the spot market (CCEE)
Energy Sale – Copel GeT
Corporate Structure | Operating Performance | Financial Highlights | Capex
Assured Energy (MW average)
2016 2017 2018 2019 2020 2021
1,900 1,938¹ 2,1202 2,160 2,154 2,153
Updated until October 2016. Prices will be adjusted by inflation. Assured energy avaiable in the cargo center, included HPP Dona Francisca, net of losses. From 2017 on, includes 30% HPP GPS assured Energy. 1 Considers the delay of Colíder HPP. 2 Considers the new schedule of Baixo Iguaçu HPP.
R$ 165.50
R$ 173.43 R$ 173.43
R$ 172.07
R$ 173.95
R$ 143.92
R$ 173.43
10
Corporate Structure | Operating Performance | Financial Highlights | Capex
Assured power (average-MW)
2017 2018 2019 2020
267 267 322 322
Energy Sale – Wind Power Plant
Updated until Dec 2016. Gross value of PIS / Cofins . Prices are adjusted by inflation.
17% 17% 14% 14%
35% 35%
29% 29%
21% 21%
18% 18%
27% 27%
39% 39%
2017 2018 2019 2020
São Bento Energia Brisa Potiguar SMG I Cutia
R$ 141.56
R$ 206.41 R$ 206.41 R$ 206.41 R$ 206.41
R$ 180.68 R$ 180.68 R$ 180.68 R$ 180.68
R$ 141.56
R$ 141.56 R$ 141.56
R$ 167.59
R$ 167.59 R$ 167.59
R$ 167.59
Growth in Generation
Corporate Structure | Operating Performance | Financial Highlights | Capex
¹ For HPP Colíder and HPP Baixo Iguaçu, the values were adjusted according to Administrative Rule No. 258 of December 2016 and January 11, 2017 respectively. ² Price updated by IPCA until Dec 2016. Font CCEE. 3 Sold 70% in the regulated market. Concession Contract No. 002/2012 of 08.20.2012. Considering waiver of 756 days. 4 Adjusted by Copel’s stake. Types of auctions: LFA – Auction of Alternative Sources/ LER – Auction Reserve Energy/ LEN – New Energy Auction.
11
Power PlantInstalled Capacity
(MW)
Assured Power¹
(Average MW)
Capex Project
(R$ million)Start-up Energy Sold² Stake
Under construction 737.0 355.5
Copel GeT 405.0 229.3
125 average MW
R$ 158.73
121 average MW
R$ 165.19
Copel Renováveis 332.0 126.2
126.2 average MW
R$ 167.59
Projects in the portfolio 2,031.7 159.1
SHP³ 36.3 20.7 - - -
HPP³ 136.4 68.2 - - -
WPP 159.0 70.2 - - -
TPP 1,700.0 - - - -
HPP Baixo Iguaçu 3, 4 201830% Copel GeT
70% Neoenergia105.0 51.4 658
HPP Colíder 300.0 177.9 100% Copel GeT20172,153
126.2 2017 (LER)
2019 (LEN) 100% Copel2,080
Cutia
(LER 2014 and LEN 2014)332.0
Transmission Assets
Corporate Structure | Operating Performance | Financial Highlights | Capex
12
Consolidated financial Statement – Copel GeT
¹ Updated according to Aneel Resolution No. 2.098/2016. ² Renewed pursuant Law No. 12,783/13 ³ From the 10.31.2018 APR will be reduced 50%. 4 Amount not yet approved by ANEEL. After approval, the receipt will be through APR from 2017.
TL
Extension (km) Amount MVA
Copel GeT 060/20012 Several 2.021 32 12.202 192,1 12.31.2042
Copel GeT 075/20013 TL Bateias - Jaguariaiva 137 - - 19,1 08.16.2031
Copel GeT 006/2008 TL Bateias - Pilarzinho 32 - - 1,0 03.16.2038
Copel GeT 027/2009 TL Foz - Cascavel Oeste 116 - - 11,2 11.18.2039
Copel GeT 015/2010 Cerquilho III Substation - 1 300 4,5 10.05.2040
Copel GeT 022/2012TL Foz do Chopim - Salto Osório
LT Londrina - Figueira102 - - 5,6 08.26.2042
Copel GeT 002/2013 TL Assis — Paraguaçu Paulista II 83 1 150 7,7 02.24.2043
Copel GeT 005/2014 TL Bateias - Curitiba Norte 31 1 300 8,4 01.28.2044
Copel GeT 021/2014 TL Foz do Chopim - Realeza 53 1 150 7,0 09.04.2044
Subtotal Copel GeT 4 2.575 36 13.102 256,7
Subsidiary / SPC EnterpriseContractSubstation Concession
Expiration
APR ¹
(R$ million)
Transmission Assets
Corporate Structure | Operating Performance | Financial Highlights | Capex
13
Equity in Earning of Subsidiaries
¹ Proportion to the participation of Copel in the venture. Updated according to Aneel Aproval Resolution No. 2,098/2016 06.28.2016
TL
Extension (km) Amount MVA
Costa Oeste Copel GeT - 51%
Eletrosul - 49%
001/2012
TL Cascavel Norte - Cascavel Oeste
TL Cascavel Norte - Umuarama Sul
Umuarama Sul Substation
159 1 300 6.5 01.11.2042
Transm. Sul BrasileiraCopel GeT - 20%
Eletrosul - 80%
004/2012 TL Nova Sta Rita - Camaquã 798 1 166 13.6 05.09.2042
Caiuá TransmissoraCopel GeT - 49%
Elecnor - 51%
007/2012
TL Guaíra - Umuarama Sul
TL Cascavel Norte - Cascavel Oeste
Santa Quitéria Substation / Cascavel Norte Substation
142 2 700 12.0 05.09.2042
Integração MaranhenseCopel GeT - 49%
Elecnor - 51%
011/2012 TL Açailandia - Miranda II 365 - - 18.0 05.09.2042
MarumbiCopel GeT - 80%
Eletrosul - 20%
008/2012 TL Curitiba - Curitiba Leste 29 1 672 14.3 05.09.2042
MatrinchãCopel GeT - 49%
State Grid - 51%
012/2012 TL Paranaíta - Ribeirãozinho 1,005 3 - 94.2 05.09.2042
GuaraciabaCopel GeT - 49%
State Grid - 51%
013/2012 LT Ribeirãozinho - Marimbondo 600 1 - 48.7 05.09.2042
Subtotal SPCs 3,098 9 1,838 207.3
Subsidiary / SPC EnterpriseContractSubstation Concession
Expiration
APR ¹
(R$ million)
Growth in Transmission
Corporate Structure | Operating Performance | Financial Highlights | Capex
14
Subsidiary / SPC AuctionSigning of
ContractEnterprise State km Subst
APR¹
(R$ million)
CAPEX²
(R$ million)Start up
Concession
Expiration
Copel GeT 001/10 Oct-10 TL Araraquara II — Taubaté SP 356 - 27,4 434,3 Apr-17 10.05.2040
Copel GeT 001/14 Sep-14 TL Assis – Londrina SP / PR 120 - 18,3 151,0 Sep-17 09.04.2044
TL Curitiba Leste - Blumenau 560,9 Mar-21
TL Baixo Iguaçu - Realeza 0,0 Sep-19
Subtotal Copel GeT 706 3 150,5 1.146,1 -
Paranaíba Copel GeT - 24,5%
Furnas - 24,5%
State Grid - 51%
007/12 May-13 TL Barreiras II - Pirapora IIBA / MG /
GO967 - 32,1 248,4 Nov-16 05.01.2043
Mata de Santa GenebraCopel GeT - 50,1%
Furnas - 49,9%
007/13 May-14 TL Araraquara II - Bateias SP / PR 847 3 109,9 782,1 Nov-17 05.13.2044
CantareiraCopel GeT - 49%
Elecnor - 51%
001/14 Sep-14 TL Estreito - Fernão Dias SP / MG 328 - 45,9 408,9 Mar-18 09.04.2044
Subtotal SPC 2.142 3 187,9 1.439,4
Total 2.848 6 338,4 2.585,5
Copel GeT 005/15 Apr-16 PR / SC 230 3 104,8 04.06.2046
² Adjusted for Copel’s stake.
¹ Updated according to Aneel Ratification Resolution 1918/2015 / Adjusted for Copel’s stake.
Distribution
Corporate Structure | Operating Performance | Financial Highlights | Capex
15
Market Growth – Copel Distribuição
Source: EPE – Monthly Market Review
9M16
Brazil Copel Captive Copel Grid
-0.9% -5.0% -2.0%
194,854 km²
Concession Area
195,052 km
Distribution Lines
4,464,458
Customers
364
Substations
162 kWh/month
Average Consumption
4th Tariff Revision Cycle – Copel Distribuição
R$ 4,920.4 million
Net RAB
R$ 2,222.4 million
Parcel B
R$ 7,786.8 million
Parcel A
6.22%
Technical Losses
4.70%
Non-Technical Losses
R$ 46.9 million
Default Coverage
Residential 30%
Industrial 27%
Commercial 23%
Rural 10%
Other 10%
Breakdown by Segment
Distribution
Corporate Structure | Operating Performance | Financial Highlights | Capex
16
Extension of Distribution Concessions
DECi² FECi²
2016 13.61 9.24
2017 EBITDA3 ≥ 0 12.54 8.74
2018 EBITDA (-) QRR4 ≥ 0 11.23 8.24
2019 {Net Debt / [EBITDA (-) QRR4]} ≤ 1 / (0.8 * SELIC5) 10.12 7.74
2020 {Net Debt / [EBITDA (-) QRR4]} ≤ 1 / (1.11 * SELIC5) 9.83 7.24
Year Economic and Financial ManagementQuality (Limit Established)1
1 According to Aneel’s Technical Note No. 0335/2015. 2 DECi – Duration of outages per customer per year (in hours), caused by Internal Source; and FECi – Frequency of outages per customer per year, caused by Internal Source. 3 EBITDA adjusted for the effects of post-employment benefits, provisions and PDV. 4 QRR: Regulatory Reintegration Quota or Regulatory Depreciation Expense. This is the value defined in the most recent Periodical Tariff Review (RTP), plus the General Market Price Index (IGP-M) between the month preceding the RTP and the month preceding the twelve-month period of the economic and financial sustainability measurement.
7.85
5.23
DEC FEC
Quality Indicators Realized – 9M16
Telecommunications and Other Sectors
Corporate Structure | Operating Performance | Financial Highlights | Capex
Copel’s stake
100.0%
Optical cables network
31,117 km
EBITDA 9M16
R$ 93.4 million
> Telecommunications > Gas > Water and Sewage
Copel’s stake
51.0%
Number of Customers
34,933
Amount of sales in 9M16
1.4 million m³/day
EBITDA 9M16¹
R$ 44.5 million
Copel’s stake
13.6%
Population served with water network
10.8 million
Equity in earnings of subsidiaries – 9M16¹
R$ 63.5 million
¹ Adjusted by Copel’s stake
17
18
Operating Revenues
R$ million
* Amounts subject to rounding. ¹ Composed of construction revenue, telecommunications, gas distribution and other.
Corporate Structure | Operating Performance | Financial Highlights | Capex R$ million
Operating Revenues
Copel GeT 32%
Copel Dis 62%
Telecom 2%
Other 4%
9M16
3T15 3T16
(59.7) 64.4
Result of Sectorial Financial Assets and Liabilities
9M15 9M16
979.3 (1,190.1)
Eletricity Sales to Distributors
3,086
1,995
751 684
2015 2016
-9%
Electricity Sales to Final Customers
4,159
4,131
1,410
1,071
2015 2016
-24%
Use of Transmission and Distribution Grid
1,717
3,149
642 503
2015 2016
-22%
Other Operating¹
1,450
1,591
502 584
2015 20169M 3Q
+16%
11,391 9,675
3,245 2,907
2015 2016
9M 3Q
-10%
19
Operating Costs and Expenses
R$ million Corporate Structure | Operating Performance | Financial Highlights | Capex
Copel GeT 16%
Copel Dis
80%
TEL 2%
Other 2%
9M16 Operating Costs and Expenses
Eletricity Provision and Reversal Charges For The Use of Main Transmission Grid
Manageable Costs¹
10,418
7,883
3,183 2,728
2015 2016
9M 3Q
-14%
5,015
3,427
1,448
1,174
2015 2016
-19%
623 682
217 204
2015 2016
-6%
1,672 1,861
592 619
2015 2016
+5%
497
165
93 108
2015 2016
* Amounts subject to rounding ¹ Considers the cost of staff, managers, pension plan and health care, material, third party services and other.
+16%
EBITDA
20 20
EBITDA Breakdown R$ million
Corporate Structure | Operating Performance | Financial Highlights | Capex
Subsidiary 3Q16 3Q15 Var.% 9M16 9M15 Var.%
Copel GeT 216.5 312.2 (30.6) 2,076.7 1,073.8 93.4
Copel Dis 88.1 (85.5) - (109.6) 159.1 -
Copel Telecom 31.5 29.0 8.6 93.4 87.5 6.7
Other/eliminations 91.6 43.5 110.6 437.6 306.9 42.6
Consolidated 427.7 299.2 42.9 2,498.1 1,627.3 53.5
EBITDA Margin 14.7% 9.2% 59.6 25.8% 14.3% 80.7
GeT Distribuição Telecom
39.1 4.1 39.2
EBITDA Margin per Subsidiary (%) 3Q16
Copel GeT 51%
Copel DIS 21%
Telecom 7% Other
21%
EBITDA Breakdown – 3Q16
Ajusted EBITDA
21 21
Adjusted EBITDA
3Q16 3Q15 Var.% 9M16 9M15 Var.%
EBITDA Consolidated 427.7 299.2 42.9 2,498.1 1,627.3 53.5
(-) Remeasurement RBSE 206.4 - - (771.3) - -
+/(-) Non-recurring Copel Dis 74.7 68.6 - 367.2 (4.6) -
(-) Reversal of provision - Cofins - - - (193.4) - -
EBITDA Ajusted 708.8 367.8 92.7 1,900.6 1,622.7 17.1
R$ million
Breakdown – 3Q16 Breakdown – 9M16
Corporate Structure | Operating Performance | Financial Highlights | Capex
21
Copel GeT 60%
Copel Dis 24%
Others 16%
R$ 708.8 million
Copel GeT 69%
Copel Dis 15%
Others 16%
R$ 1,900.6 million
Net Income Breakdown
Net Income
22
R$ million
3Q16
Corporate Structure | Operating Performance | Financial Highlights | Capex
Subsidiary 3Q16 3Q15 Var.% 9M16 9M15 Var.%
Copel GeT 44.9 172.1 (73.9) 1,048.7 704.5 88.6
Copel Dis (126.6) (73.1) - (230.0) 98.2 -
Copel Telecom 12.7 14.3 (11.3) 38.6 43.4 (11.3)
Other/eliminations (6.1) (21.9) - 200.3 17.3 427.9
Consolidated (75.1) 91.4 - 1,057.6 863.4 22.5
Net Margin - 2.8% - 10.9% 7.6% 43.4
863 1,058
91
-75 2015 2016
9M 3Q
Net Income Performance
GeT Distribuição Telecom
8.1 - 15.8
Net Margin by Subsidiary (%)
23
¹ 12 months. Considers the equity of the beginning of the period.
Subsidiary GeT Dis Telecom Consolidated
Operating Revenues (R$ million) 3,059.2 5,971.7 236.8 9,675.4
Operating Income (R$ million) 1,529.2 (167.1) 57.5 1,723.5
Net Income (R$ million) 1,048.7 (230.0) 38.6 1,057.6
EBITDA (R$ million) 2,076.7 (109.6) 93.3 2,498.1
Return on Equity¹ (%) 19.9 - 10.0 7.3
EBITDA Margin (%) 67.9 - 39.4 25.8
Net Margin (%) 34.3 - 16.3 10.9
Subsidiaries
Corporate Structure | Operating Performance | Financial Highlights | Capex
Financial Indicators Wholly Owned Subsidiaries – 9M16
264 794 1,282 1,504 1,014
2,280
4,723
5,783 6,817
2.0
2.4
0.0
0.5
1.0
1.5
2.0
2.5
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2012 2013 2014 2015 9M16
Net Debt/EBITDA¹ (R$ million)
Guarantees and endorsements Net Debt²
Net Debt/EBITDA² Net Debt/EBITDA³
Index Value
(R$ million) Part.
%
CDI 4,274.0 48.8
TJLP 1,932.6 22.0
IPCA 2,323.7 26.5
Dollar 88.8 1.1
Other 142.3 1.6
Debt profile
As of 09.30.2016
56.1% Debt / Shareholders’ Equity
24
Corporate Structure | Operating Performance | Financial Highlights | Capex
¹ EBITDA 12 months ² Do not considers endorsements and guarantees ³ Considers endorsements and guarantees
Debt Composition by Index
2,544
5,517
7,065 8,321
R$'000
Short Term
Oct-16 - Sep-17 Oct-17 - Dec-17 2018 2019 2020 2021 From 2022
Domestic Currency 1,976,668 1,118,855 2,030,070 1,453,425 516,425 177,541 1,399,547 8,672,531
Foreign Currency 1,721 - - - - - 87,118 88,839
TOTAL 1,978,389 1,118,855 2,030,070 1,453,425 516,425 177,541 1,486,665 8,761,370
Long TermTotal
¹ Source: Economática.Date base 11.14.2016.
Dividends
YearAnnual Dividend
Yield¹
2009 6.9%
2010 1.7%
2011 3.9%
2012 1.9%
2013 7.2%
2014 7.8%
2015 2.6%
281 421 268 561 623 327
30% 35% 35%
50% 50%
27%
2010 2011 2012 2013 2014 2015
Dividend and IOC Historical
Gross Value (R$ mm) Payout
Corporate Structure | Operating Performance | Financial Highlights | Capex
25
Multiple – 9M16¹
EV/EBITDA P/E P/BVPS
Copel 5.5 7.3 0.5
Sector Average 7.4 6.8 1.3
Capex
1,430
1,846
2,469 2,365
3,264
2012 2013 2014 2015 Schedule 2016
R$ million
Capex by Business
(Schedule 2016) Historical Capex
1 Considers the transfer of wind farms to Copel GeT
2 Included Copel Telecomunicações, Copel Holding and New Business
Corporate Structure | Operating Performance | Financial Highlights | Capex
Copel GeT1 76%
Copel Dis
18%
Other2 16%
26
Carried Capex
1,586
2,728
9M15 9M16
+72.0%
Capex
Corporate Structure | Operating Performance | Financial Highlights | Capex
27
Investment Program 2016
R$ million
Subsidiary / SPCCarried
9M16
Scheduled
2016
Scheduled
2017
Copel Geração e Transmissão 1,565.6 1,695.1 570.3
Copel Distribuição 552.7 627.0 629.6
Copel Telecomunicações* 148.9 176.0 164.3
Copel Comercialização - - 0.2
Copel Renováveis - - 1.5
Holding - - 1.6
Copel Brisa Portiguar 1.4 110.2 -
São Bento Energia 0.1 3.2 -
Cutia Wind Farm Complex 456.7 601.3 638.6
Other Invesment² 3.1 24.0 28.8
TOTAL 2,728.4 3,236.9 2,034.9₁ Regarding the participation of Copel in Enterprises.
₂ Includes Voltalia São Miguel do Gostoso I Participações among others.
* Budget adequacy according to the minutes of the 156th Ordinary Board of Director's Meeting
R$ million
Copel Geração e TransmissãoCarried
9M16
Scheduled
2016
Scheduled
2017
UHE Colíder 153.4 120.0 24.1
UHE Baixo Iguaçu 73.8 85.6 20.5
UHE Gov. Parigot de Souza (GPS) 574.8 574.8 -
LT Araraquara / Taubaté 78.8 161.6 137.9
SE Paraguaçu Paulista 8.0 6.7 -
LT Bateias - Curitiba Norte 29.0 11.3 -
LT Foz do Chopim - Realeza 44.6 34.7 9.5
LT Assis - Londrina 119.9 82.8 20.4
LT Curitiba Leste / Blumenau 3.1 11.1 32.1
SPE Matrinchã Transmissora de Energia¹ 67.3 21.6 -
SPE Guaraciaba Transmissora de Energia¹ 74.7 74.7 -
SPE Mata de Santa Genebra Transmissão¹ 120.2 190.7 101.1
SPE Cantareira Transmissora de Energia¹ 97.4 94.3 -
SPE Paranaíba¹ 19.5 7.3 -
Others 100.9 218.0 224.7
TOTAL 1,565.6 1,695.1 570.3
¹ Copel 's participation in the project i s proportional .
> Signatory of the Global Compact since 2000
> Copel’s share remain in the Corporate Sustainability Index of Bovespa in 2016
> 11 years of adoption of the GRI - Global Reporting Initiative guidelines
> Adoption of the International Integrated Reporting Council
> 10 years in the top 10 in Abradee Social Responsibility Award
> In 2015 included in the Global Sustainability Index – MSCI
> 7 years prepares and publishes Greenhouse Gas Inventory no GHG Protocol
> Award Seal Paraná Climate - Gold category in the years 2015 and 2016
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Principles:
> Commitment
> Proactive attitude before the law
> Dialogue, communication and transparency
> Respect to environmental dynamics
> Individual responsibility
> Valuing Diversity
Sustainability Practices
Copel sustainability strategies are in line with our strategic framework and
the best market practices: