Strong Consolidated EBITDA Growth
Consolidated recurring EBITDA of nearly BRL 1.4 billion in Q4 2025, up 16% year-on-year, reflecting operational resilience and balanced contribution across businesses (DISCO ~54%, GenCo+TradeCo ~46%).
Significant Recurring Net Income Increase
Recurring net income of BRL 683 million in Q4 2025, an increase of nearly 30% year-on-year, supported by EBITDA growth and a reduced tax burden from optimized IOC usage.
GenCo Outperformance
Generation & Transmission recurring EBITDA of BRL 654 million in Q4 2025, up 24% YoY; full-year GenCo recurring EBITDA of BRL 2.9 billion, up 15% YoY. Availability revenue rose by BRL 102.7 million (consolidation of Mata de Santa Genebra and APR adjustment) and short-term market optimization added BRL 35 million.
Distribution Segment Stability and Investment in Modernization
DISCO delivered recurring EBITDA of BRL 728.4 million in Q4 2025 (+1.8% YoY) and BRL 2.6 billion for the year (+5.4% YoY). Gross distribution margin grew 8.4%; annual tariff adjustment of 1.3%; CapEx Q4 BRL 768 million and full-year CapEx BRL 3.4 billion (84% to distribution). Smart grid rollout surpassed 2 million smart meters installed.
TradeCo Turnaround
TradeCo returned to profitability with recurring EBITDA of BRL 3.5 million in Q4 2025 versus a loss of BRL 15.4 million prior year, driven by ~70% growth in bilateral contract volumes to 3,824 GWh and reduced impacts from intermittent contracts.
Capital Structure and Debt Management Improvements
Leverage ended the year at 2.7x (aligned with target). Total debt BRL 20 billion, net debt BRL 16 billion. Average nominal cost of debt improved to 87.74% of CDI from 98.46% at end-2024. Average amortization term extended to 4.9 years from 4.2 years.
Record Shareholder Remuneration and Governance Upgrade
Aggregate payouts (dividends, interest, capital, Novo Mercado migration premium) reached a record BRL 3.8 billion in 2025 (aggregate payout 144%, equivalent dividend yield 14%). Migration to Novo Mercado achieved higher governance level and improved stock liquidity.
Strategic Plan and Growth Pipeline
Presented Vision 2035 and a multiyear investment plan totaling BRL 18 billion over five years. COPEL is prepared for the 2026 Reserve Capacity Auction (LRCAP) with two hydro projects (Foz do Areia and Segredo) having installation licenses and EPC precontracts.