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lower profit in the first quarter of 2024
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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.

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Cerro Chato Wind Complex, located in Sant´Ana do Livramento/ RS (Photo: Reproduction/ Instagram/ Hermínio Nunes)
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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

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lower profit in the first quarter of 2024

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lower profit in the first quarter of 2024

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