lower profit in the first quarter of 2024

The net profit that Eletrobras had was R$331 million in the first quarter, a 19% drop compared to last year, according to the balance sheet reported by the company this Thursday (09/05). The company's adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), totaling R$4.5 billion from January to March 2024, was also 19%.

Unrecognized revenue

Regarding the drop in revenue, it may have been one of the factors impacting Ebitda, the non-recognition of revenue in the amount of R$432 million relating to Amazonas Energia, a distributor that was privatized in 2018 and was owned by Eletrobras, as explained by the company .

Due to the sale of the Candiota thermal plant, for R$149 million, revenue was also affected, and still under regulatory criteria, EBITDA increased by 5% to R$5.4 billion, adjusted for the first quarter. And operational costs related to energy purchased for resale, charges for the use of the electrical network, construction and others, suffered a negative impact, according to the company.

Advancement of efforts

However, these negative impacts ended up being compensated in parts, for example by an increase in transmission revenue, one of Eletrobras' main businesses, and also a reduction in expenses with personnel, material, services and others (PMSO) and consequently savings generated by the exits of voluntary dismissal program (PDVs).

With the reduction of R$ 1.137 billion in the total stock of compulsory loan provision, at the end of 2023, totaling R$ 16 billion, as efforts advance in its liabilities, highlighted the company. And there were still discounts of R$441 million, positive results from negotiated agreements to reduce liabilities, according to the company.

However, there was a net creation of a provision due to decisions in processes worth R$85 million, however, Eletrobras said in a report that it is taking legal action to reverse these decisions.

Featured photo: Eletrobras logo. Reproduction/ Eletrobras Official Website