Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Q1 2020 Earnings Conference Call May 29, 2020 2:30 PM ET Corporate Participants Wilson Ferreira - CEO Elvira Baracuhy - IR Conference Call Participants Andre Sampaio - Santander Marcelo Sá - Itaú Carolina Carneiro - Crédit Suisse Operator Good afternoon to everyone, and thank you for waiting. Welcome to the earnings call of Eletrobras, and we're going to talk about the results of the first quarter of 2020. [Operator Instructions] We have this prese ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commissi ...

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Q4 2019 Earnings Conference Call March 30, 2020 1:30 PM ET CompanyParticipants Wilson Ferreira - CEO Conference Call Participants Andre Sampaio - Santander Marcelo Sá - Itaú Pedro Luiz Manfredini - Goldman Sachs Operator Ladies and gentlemen, good afternoon to you all, and thank you for waiting. Welcome to the teleconference of Eletrobras to talk about the results regarding the Fourth Quarter of 2019. [Operator Instructions] I remind you that this ...

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Q3 2019 Earnings Conference Call November 12, 2019 12:30 PM ET Company Participants Wilson Ferreira - CEO Elvira Presta - CFO Conference Call Participants Andre Sampaio - Santander Operator Ladies and gentlemen, good afternoon, everyone. Thank you for waiting. You are all welcome to the Teleconference of Eletrobras to talk about our Results of the Trimester 2019. All participants will be listening to the teleconference during the presentation, soon ...

Centrais Elétricas Brasileiras S.A. - Eletrobras (NYSE:EBR) Q2 2019 Earnings Conference Call August 13, 2019 1:30 PM ET Company Participants Wilson Ferreira - CEO Conference Call Participants Andre Sampaio - Santander Kaique Vasconcellos - Safra Operator Ladies and gentlemen, thank you very much. Good afternoon and thank you for waiting. Welcome to the Teleconference of Eletrobras to talk about the Results of the Second Quarter of 2019. We inform you that -- let me remind you that this is available as a Pow ...

Centrais Elétricas Brasileiras S.A. - Eletrobras (NYSE:EBR) Q1 2019 Results Conference Call May 14, 2019 1:30 PM ET Company Participants Wilson Ferreira - CEO Unidentified Company Representative Good afternoon, everyone, and thank you for waiting. Welcome to our audio conference at Eletrobras. We are going to present the results of the first quarter of 2019 [Operator Instructions]. I remind you that this presentation is available as a corporate presentation in our investor relations site [Operator Instructi ...

Financial Performance - In 2018, the company reported net operating revenue of R$24.98 billion, a decrease of 15.5% from R$29.44 billion in 2017[30]. - The company's net income from continuing operations was R$12.26 billion in 2018, significantly up from R$1.45 billion in 2017[30]. - The company reported a basic net income per share of R$9.62 for the period, a significant recovery from a loss of R$1.30 in 2017[30]. - The company proposed dividends of R$1,250 million for the fiscal year ended December 31, 2018, reflecting a recovery in net income[32]. - The total liabilities amounted to R$125.20 billion in 2018, compared to R$130.22 billion in 2017, indicating a reduction of 3.8%[29]. - The company reported a net income (loss) per share of R$8.43 (basic and diluted) for 2015, worsening from R$4.60 in 2014[31]. - The company incurred a loss of R$553 million in 2018 due to the difference between the book value and sale value of certain SPEs classified as held for sale[36]. Assets and Liabilities - Total assets increased to R$181.21 billion in 2018, compared to R$172.98 billion in 2017, reflecting a growth of 4.3%[29]. - The company held cash and cash equivalents of R$583.35 million as of December 31, 2018, down from R$792.25 million in 2017, a decline of 26.4%[29]. - The company classified R$15.42 billion as assets held for sale as of December 31, 2018, a substantial increase from R$5.83 billion in 2017[29]. Operational Changes and Strategic Plans - The company plans to conclude the sale of remaining SPEs in the second quarter of 2019, pending regulatory approvals[27]. - The company plans to reduce consolidated indebtedness and increase cash flows by selling shares in certain SPEs as part of its Business and Management Plans for 2019-2023[36]. - The company aims to simplify its structure to focus on core operations in generation and transmission, reducing leverage and exposure to non-core businesses[109]. - The medium-term strategic plan (PDNG 2019-2023) aims for profitable growth, operational excellence, and sustainable performance, with a focus on reducing financial leverage and improving operational efficiency[60]. Regulatory and Compliance Issues - The company identified a material weakness in internal controls affecting the reliability of financial statements, which it is attempting to remedy through a consulting firm[34]. - The company is subject to certain rules limiting its indebtedness and investments, requiring approval from the Ministry of the Economy and the Brazilian Congress for its annual budgets[59]. - The company must comply with financial and non-financial covenants in its financing agreements, which could impact its financial condition if not adhered to[59]. - The company is currently facing potential material adverse effects on its financial condition due to ongoing discussions regarding a new regulatory framework in the energy sector, which may increase competition and lower energy prices[88]. Market and Economic Conditions - Brazil's economy contracted by 3.9% in 2015 and 3.6% in 2016, with a rebound of 1% growth in 2017 and 1.1% in 2018[74]. - The Brazilian real depreciated by 32% in 2015, appreciated by 20% in 2016, and further depreciated by 17.1% in 2018, highlighting significant currency volatility[80]. - Political corruption allegations have led to instability, affecting investor confidence and potentially impacting GDP growth and market volatility[72]. - The Brazilian Government's measures to control inflation have included maintaining high interest rates, which limit credit availability and economic growth[80]. Energy Generation and Capacity - As of December 31, 2018, the company contributed approximately 31% of the installed power generating capacity within Brazil, with net revenues of R$25.0 billion, down from R$29.4 billion in 2017[102]. - In 2018, the company generated 71% of its energy from renewable sources, including 89% from hydroelectric power[109]. - The company had an installed capacity of 49,801 MW as of December 31, 2018, with an additional 5,850 MW planned for projects throughout Brazil by 2026[115]. - The total electricity generated in 2018 was 135,786,836.38 MWh, an increase from 133,952,710.37 MWh in 2017, with hydroelectric generation at 106,735,388.94 MWh[123]. Environmental and Safety Regulations - Environmental regulations require the company to obtain licenses for new projects, and non-compliance could lead to significant penalties, including fines and operational shutdowns[91]. - The company has implemented environmental policies and procedures to manage waste and comply with sustainability principles, but changes in environmental laws could adversely affect operations[91]. - The company is involved in the Procel program aimed at improving energy efficiency and conservation across Brazil, which has been in place since 1985[174]. Legal and Litigation Matters - The company settled an investor class action lawsuit for U.S.$14.75 million (R$59.1 million) in May 2018, denying any illegal acts[56]. - The company agreed to pay a U.S.$2.5 million settlement to the SEC for inadequate internal controls, concluding the SEC's investigation into alleged irregularities[56]. - The company has provisioned R$24.2 billion for legal proceedings, with R$22.3 billion related to civil claims[64]. Transmission and Distribution - The total length of the transmission lines owned by the company was 63,479 km, a decrease from 63,833 km in 2017[137]. - The company invested R$1.4 billion in transmission activities in 2018, representing 53% of the total investment budget for transmission activities of R$2.7 billion[142]. - Total electricity losses for the distribution business were 34.4% in 2018, up from 32.7% in 2017, with commercial losses at 24.8%[149]. Future Projects and Investments - The company plans to invest approximately R$30.1 billion in its generation and transmission segments from 2019 to 2023, utilizing net cash flows and accessing capital markets[106]. - The company is preparing a market sounding to assess the attractiveness of potential partnerships for the completion of Angra III in 2019[62]. - The company is involved in the construction of approximately 312 km of transmission lines and three new substations in the state of Rio Grande do Norte, with a 100% participation from Chesf[163].