COPEL - Copel Recorded Recurring Ebitda of R$ 1,358.1 Million in 4Q25, an Increase of 16.1% Compared to R$ 1,169.6 Million Recorded in 4Q24

Core Insights - Copel reported a recurring Ebitda of R$ 1,358.1 million in 4Q25, marking a 16.1% increase from R$ 1,169.6 million in 4Q24, demonstrating the company's strong asset base and effective operational strategy [1] Group 1: Financial Performance - Genco's Ebitda increased by 24.3% (+R$ 127.8 million) to R$ 654.2 million in 4Q25, driven by higher revenue from electricity grid availability, reduced manageable costs, and positive effects from short-term market transactions [2] - Elejor's Ebitda rose by R$ 23.6 million compared to 4Q24, attributed to increased energy trading volumes in bilateral contracts and higher average sale prices [3] - TradeCo's Ebitda grew by R$ 18.8 million compared to 4Q24, primarily due to a 69.7% increase in energy sales in bilateral contracts, totaling 3,824 GWh [3] Group 2: Cost and Pricing Factors - The increase in Genco's Ebitda was partially offset by higher costs of electricity purchased for resale, with GSF decreasing to 67.4% in 4Q25 from 79.9% in 4Q24, and PLD rising to R$ 264.70/MWh from R$ 216.36/MWh [3] - DisCo's Ebitda saw a 1.8% increase (+R$ 13.1 million) compared to 4Q24, mainly due to the Annual Tariff Adjustment (RTA) in June 2025, which had an average effect of 1.3% on portion B [3]