ENERGY CO OF PARANA
For the period ended Dec 31, 2024. Filed Apr 17, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Apr 17, 2025
Contents
31. Operating Segments
- Operating Segments
Operating segments are business activities that generate revenues and incur expenses, whose operating results are regularly reviewed by the executive boards of the Company and by key strategic decision-makers responsible for allocating funds and assessing performance.
The Company operates in reportable segments identified by Management, through the chief officers of each business area, taking into consideration the regulatory environments, the strategic business units and the different products and services. These segments are managed separately, since each business and each company require different technologies and strategies.
Until December 31, 2024, all sales have been to customers within the Brazilian territory, in addition, all noncurrent assets are also located in the national territory. The Company and its subsidiaries did not identify any customer who individually accounts for more than 10% of their total net revenue until December 31, 2024.
The Company evaluates the performance of each segment, based on information derived from the accounting records. The accounting policies of the operating segments are the same as those described in Note 4.
31.1. Company’s reportable segments
Power generation and transmission (GET) - its attribution is to produce electricity from hydraulic, wind, and thermal projects (GER) and to provide services of transmission and transformation of electric power, being responsible for the construction, operation and maintenance of substations, as well for the energy transmission lines (TRA). For managers, the assets and liabilities of the generation and transmission segments are shown on an aggregate basis while their result is presented separately;
COMPANHIA PARANAENSE DE ENERGIA – COPEL and Subsidiaries
Notes to the Consolidated Financial Statements
For the year ended December 31, 2024
All amounts expressed in thousands of Brazilian reais, unless otherwise stated
Power distribution (DIS)- its attribution is to provide public electricity distribution services, being responsible for the operation and maintenance of the distribution infrastructure, as well as providing related services;
GAS- its attribution is to provide public service of piped natural gas distribution. The segment was discontinued after the completion of the Compagas divestment process (Note 37);
Power sale (COM)- its attribution is to trade energy and related services;
Services (SER)– its attribution is the provision of services, including rental of distributed generation infrastructure, and participation in open innovation investments. This segment has been shown separately since 2024, given that operating activities of Copel Serviços began in June 2024;
Holding– its attribution is participation in other companies.
31.2. Assets by reportable segment
| ASSETS 12.31.2024 · Electric Energy · SER (b) · Holding · Intersegment operations / Others (a) · Total | |||||||
|---|---|---|---|---|---|---|---|
| GET · DIS · COM | |||||||
| TOTAL ASSETS | 29,552,246 | 23,567,303 | 1,447,083 | 149,155 | 4,571,127 | (1,902,758) | 57,384,156 |
| CURRENT ASSETS | 4,796,497 | 6,769,769 | 916,049 | 48,889 | 3,486,544 | (2,975,940) | 13,041,808 |
| NONCURRENT ASSETS | 24,755,749 | 16,797,534 | 531,034 | 100,266 | 1,084,583 | 1,073,182 | 44,342,348 |
| Long term assets | 7,418,447 | 6,847,655 | 520,427 | 15,084 | 894,484 | (380,976) | 15,315,121 |
| Investments | 3,411,005 | 442 | — | — | 166,490 | — | 3,577,937 |
| Property, plant and equipment | 8,428,157 | — | 702 | 80,590 | 7,248 | — | 8,516,697 |
| Intangible assets | 5,365,916 | 9,788,358 | 5,731 | 901 | 8,546 | 1,454,158 | 16,623,610 |
| Right-of-use asset | 132,224 | 161,079 | 4,174 | 3,691 | 7,815 | — | 308,983 |
(a) Includes elimination amounts between segments and consolidation adjustments.
(b) Copel Serviços started operating activities as of June 2024, as disclosed in Note 31.1.
| ASSETS 12.31.2023 · Electric Energy · GAS · Holding and Services · Reclassi-fications (Note 37) · Intersegment operations (a) · Total | ||||||||
|---|---|---|---|---|---|---|---|---|
| GET · DIS · COM | ||||||||
| TOTAL ASSETS | 26,663,528 | 21,831,127 | 1,824,990 | 1,023,624 | 6,026,072 | 1,446,991 | (2,997,258) | 55,819,074 |
| CURRENT ASSETS | 3,841,190 | 5,153,666 | 1,074,359 | 240,017 | 4,994,382 | 276,597 | (1,864,481) | 13,715,730 |
| NONCURRENT ASSETS | 22,822,338 | 16,677,461 | 750,631 | 783,607 | 1,031,690 | 1,170,394 | (1,132,777) | 42,103,344 |
| Long term assets | 6,966,439 | 8,229,821 | 740,114 | 73,274 | 795,749 | 171,431 | (633,391) | 16,343,437 |
| Investments | 3,345,350 | 443 | — | — | 166,004 | — | — | 3,511,797 |
| Property, plant and equipment | 11,060,949 | — | 770 | — | 52,305 | 288,602 | (577,205) | 10,825,421 |
| Intangible assets | 1,341,216 | 8,317,327 | 5,784 | 699,697 | 7,247 | 699,725 | 99,093 | 11,170,089 |
| Right-of-use asset | 108,384 | 129,870 | 3,963 | 10,636 | 10,385 | 10,636 | (21,274) | 252,600 |
(a) Includes elimination amounts between segments and consolidation adjustments.
COMPANHIA PARANAENSE DE ENERGIA – COPEL and Subsidiaries
Notes to the Consolidated Financial Statements
For the year ended December 31, 2024
All amounts expressed in thousands of Brazilian reais, unless otherwise stated
31.3. Statement of income by reportable segment
| STATEMENT OF INCOME 12.31.2024 · Energia Elétrica · GÁS · SER (a) · Holding · Reclassi-ficationsNote 37 · Inter-segment operations · Total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GET · DIS · COM | ||||||||||||||
| GER | TRA | |||||||||||||
| CONTINUING OPERATIONS | ||||||||||||||
| NET OPERATING REVENUE | 3,477,696 | 1,144,481 | 17,030,454 | 3,568,463 | 562,129 | 6,333 | — | (561,141) | (2,577,379) | 22651036000 | ||||
| Net operating revenue - third-parties | 1,473,628 | 708,119 | 16,992,784 | 3,470,172 | 13,618 | 6,333 | — | (13,618) | — | 22,651,036 | ||||
| Net operating revenue - between segments | 2,004,068 | 436,362 | 37,670 | 98,291 | 548,511 | — | — | (547,523) | (2,577,379) | — | ||||
| OPERATING COSTS AND EXPENSES | (2,348,476) | (294,553) | (15,048,163) | (3,553,557) | (503,516) | (7,129) | (192,548) | 502,579 | 2,577,373 | (18,867,990) | ||||
| Energy purchased for resale | (195,695) | — | (7,308,796) | (3,524,688) | — | — | — | — | 2,104,284 | (8,924,895) | ||||
| Charges for use of the main transmission grid | (625,586) | — | (2,729,154) | — | — | — | — | 17,586 | 471,664 | (2,865,490) | ||||
| Personnel and management | (218,436) | (141,042) | (636,853) | (14,462) | (33,621) | (264) | (73,864) | 36,745 | — | (1,081,797) | ||||
| Pension and healthcare plans | (46,764) | (32,041) | (168,977) | (1,737) | (4,083) | (45) | (10,152) | 4,447 | — | (259,352) | ||||
| Materials and supplies | (15,620) | (5,711) | (63,493) | (114) | (416) | (16) | (1,946) | 434 | — | (86,882) | ||||
| Raw materials and supplies for generation | (1,880) | — | — | — | — | — | — | 172 | 772 | (936) | ||||
| Natural gas and supplies for gas business | — | — | — | — | (397,554) | — | — | 397,554 | — | — | ||||
| Third party services | (249,558) | (55,001) | (719,122) | (4,603) | (10,650) | (3,951) | (48,483) | 14,134 | 2,926 | (1,074,308) | ||||
| Depreciation and amortization | (821,258) | (17,069) | (592,226) | (1,746) | (27,146) | (2,788) | (3,245) | — | — | (1,465,478) | ||||
| Provision (reversal) for litigations | (24,462) | (9,334) | (168,067) | 178 | (32) | — | (20,735) | 207 | (6) | (222,251) | ||||
| Impairment of assets | (24,165) | — | — | — | — | — | — | — | (24,165) | |||||
| Other estimated losses, provisions and reversals | (13,172) | (9,007) | (75,402) | (958) | (7,509) | (147) | — | 7,509 | — | (98,686) | ||||
| Construction cost | — | (95,610) | (2,427,298) | — | (13,618) | — | — | 13,618 | — | (2,522,908) | ||||
| Other operating costs and expenses, net | (111,880) | 70,262 | (158,775) | (5,427) | (8,887) | 82 | (34,123) | 10,173 | (2,267) | (240,842) | ||||
| EQUITY IN EARNINGS OF INVESTEES | 14,431 | 262,463 | — | — | — | — | 4,308 | — | 0 | 281,202 | ||||
| PROFIT (LOSS) BEFORE FINANCIAL INCOME AND TAX | 1,143,651 | 1,112,391 | 1,982,291 | 14,906 | 58,613 | (796) | (188,240) | (58,562) | (6) | 4,064,248 | ||||
| Financial income | 294,113 | 90,377 | 516,031 | 40,813 | 29,114 | 3,285 | 248,195 | (30,182) | (6,967) | 1,184,779 | ||||
| Financial expenses | (778,328) | (301,485) | (1,041,951) | (325) | (39,721) | (4,906) | (223,032) | 40,988 | 6,967 | (2,341,793) | ||||
| OPERATING PROFIT (LOSS) | 659,436 | 901,283 | 1,456,371 | 55,394 | 48,006 | (2,417) | (163,077) | (47,756) | (6) | 2,907,234 | ||||
| Income tax and social contribution | (197,338) | (97,961) | (322,349) | (11,310) | (17,301) | (1,935) | 18,192 | 26,531 | 4,036 | (599,435) | ||||
| NET INCOME (LOSS) FROM CONTINUING OPERATIONS | 462,098 | 803,322 | 1,134,022 | 44,084 | 30,705 | (4,352) | (144,885) | (21,225) | 4,030 | 2,307,799 | ||||
| Result of discontinued operations | 12,004 | — | — | — | — | — | 458,342 | 21,225 | — | 491,571 | ||||
| NET INCOME (LOSS) | 474,102 | 803,322 | 1,134,022 | 44,084 | 30,705 | (4,352) | 313,457 | — | 4,030 | 2,799,370 | ||||
| (a) Copel Serviços started operating activities as of June 2024, as disclosed in Note 31.1. | ||||||||||||||
COMPANHIA PARANAENSE DE ENERGIA – COPEL and Subsidiaries
Notes to the Consolidated Financial Statements
For the year ended December 31, 2024
All amounts expressed in thousands of Brazilian reais, unless otherwise stated
| STATEMENT OF INCOME 12.31.2023 · Electric Energy · GAS · Holding and Services · Reclassi-ficationsNote 37 · Inter-segment operations · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| GET · DIS · COM | |||||||||
| GER | TRA | ||||||||
| CONTINUING OPERATIONS | |||||||||
| NET OPERATING REVENUES | 4,179,457 | 1,096,351 | 15,085,707 | 4,056,904 | 978,581 | — | (977,148) | (2,940,384) | 21,479,468 |
| Net operating revenue - third-parties | 1,764,212 | 687,829 | 15,048,581 | 3,978,846 | 17,014 | — | (17,014) | — | 21,479,468 |
| Net operating revenue - between segments | 2,415,245 | 408,522 | 37,126 | 78,058 | 961,567 | — | (960,134) | (2,940,384) | — |
| OPERATING COSTS AND EXPENSES | (2,372,792) | (474,506) | (13,983,117) | (3,948,286) | (814,455) | (218,272) | 778,481 | 2,940,384 | (18,092,563) |
| Energy purchased for resale | (214,198) | (14,741) | (6,074,752) | (3,908,484) | — | — | 3,282 | 2,492,703 | (7,716,190) |
| Charges for use of the main transmission grid | (658,229) | — | (2,715,273) | — | — | — | 33,873 | 442,919 | (2,896,710) |
| Personnel and management | (368,744) | (247,393) | (1,174,906) | (21,133) | (43,201) | (72,537) | 49,582 | — | (1,878,332) |
| Pension and healthcare plans | (49,626) | (33,003) | (167,533) | (1,877) | (6,222) | (8,853) | 6,955 | — | (260,159) |
| Materials and supplies | (20,937) | (5,583) | (74,501) | (77) | (1,574) | (1,609) | 1,614 | — | (102,667) |
| Raw materials and supplies for generation | (19,113) | — | — | — | — | — | 158 | 1,301 | (17,654) |
| Natural gas and supplies for gas business | — | — | — | — | (678,885) | — | 678,885 | — | — |
| Third party services | (242,712) | (50,019) | (643,999) | (3,389) | (13,861) | (68,186) | 22,517 | 3,337 | (996,312) |
| Depreciation and amortization | (843,480) | (16,207) | (521,301) | (2,003) | (41,148) | (4,700) | 46,799 | — | (1,382,040) |
| Provision (reversal) for litigations | (8,204) | (12,777) | (101,960) | (233) | (263) | (44,815) | 10,584 | — | (157,668) |
| Impairment of assets | 285,825 | — | — | — | — | — | (108,132) | — | 177,693 |
| Other estimated losses, provisions and reversals | (7,109) | (2,334) | (99,123) | (3,694) | (285) | — | 285 | — | (112,260) |
| Construction cost | — | (85,181) | (2,234,539) | — | (17,010) | — | 17,010 | — | (2,319,720) |
| Other operating costs and expenses, net | (226,265) | (7,268) | (175,230) | (7,396) | (12,006) | (17,572) | 15,069 | 124 | (430,544) |
| EQUITY IN EARNINGS OF INVESTEES | 16,651 | 283,939 | — | — | — | 7,219 | — | — | 307,809 |
| PROFIT (LOSS) BEFORE FINANCIAL INCOME AND TAX | 1,823,316 | 905,784 | 1,102,590 | 108,618 | 164,126 | (211,053) | (198,667) | — | 3,694,714 |
| Financial income | 333,990 | 66,922 | 479,944 | 38,577 | 36,559 | 182,829 | (46,362) | (23,343) | 1,069,116 |
| Financial expenses | (791,547) | (344,524) | (955,046) | (717) | (48,316) | (203,206) | 45,907 | 23,343 | (2,274,106) |
| OPERATING PROFIT (LOSS) | 1,365,759 | 628,182 | 627,488 | 146,478 | 152,369 | (231,430) | (199,122) | — | 2,489,724 |
| Income tax and social contribution | (228,373) | 1,779 | (58,368) | (40,928) | (40,750) | 4,962 | 7,621 | — | (354,057) |
| NET INCOME (LOSS) FROM CONTINUING OPERATIONS | 1,137,386 | 629,961 | 569,120 | 105,550 | 111,619 | (226,468) | (191,501) | — | 2,135,667 |
| Result of discontinued operations | — | — | — | — | — | — | 191,501 | — | 191,501 |
| NET INCOME (LOSS) | 1,137,386 | 629,961 | 569,120 | 105,550 | 111,619 | (226,468) | — | — | 2,327,168 |
COMPANHIA PARANAENSE DE ENERGIA – COPEL and Subsidiaries
Notes to the Consolidated Financial Statements
For the year ended December 31, 2024
All amounts expressed in thousands of Brazilian reais, unless otherwise stated
| STATEMENT OF INCOME 12.31.2022 · Electric Energy · GAS · HoldingandServices · Reclassi-ficationsNote 37 · Inter-segment operations · Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GET · DIS · COM | ||||||||||
| GER | TRA | |||||||||
| CONTINUING OPERATIONS | ||||||||||
| NET OPERATING REVENUES | 4,099,740 | 1,140,734 | 13,903,300 | 4,938,368 | 1,297,034 | 8,014 | (1,392,380) | (3,459,469) | 20,535,341 | |
| Net operating revenue - third-parties | 1,369,563 | 781,448 | 13,866,122 | 4,608,702 | 1,293,872 | 8,014 | (1,392,380) | — | 20,535,341 | |
| Net operating revenue - between segments | 2,730,177 | 359,286 | 37,178 | 329,666 | 3,162 | — | — | (3,459,469) | — | |
| OPERATING COSTS AND EXPENSES | (2,766,048) | (303,450) | (13,418,798) | (4,814,710) | (1,076,181) | (570,344) | 1,424,916 | 3,459,469 | (18,065,146) | |
| Energy purchased for resale | (386,210) | — | (5,980,124) | (4,790,427) | — | — | — | 3,059,851 | (8,096,910) | |
| Charges for use of the main transmission grid | (599,422) | — | (2,313,203) | — | — | — | 32,530 | 392,098 | (2,487,997) | |
| Personnel and management | (207,684) | (123,528) | (599,121) | (12,712) | (42,166) | (41,651) | 48,958 | — | (977,904) | |
| Pension and healthcare plans | (48,973) | (30,948) | (169,493) | (1,787) | (5,366) | (9,614) | 5,984 | — | (260,197) | |
| Materials and supplies | (13,227) | (5,297) | (71,302) | (53) | (1,644) | (924) | 1,906 | — | (90,541) | |
| Raw materials and supplies for generation | (123,279) | — | — | — | — | — | 111,060 | 2,870 | (9,349) | |
| Natural gas and supplies for gas business | — | — | — | — | (939,516) | — | 939,516 | — | — | |
| Third party services | (207,239) | (37,041) | (505,407) | (2,665) | (13,316) | (41,702) | 46,192 | 6,627 | (754,551) | |
| Depreciation and amortization | (783,828) | (13,692) | (454,307) | (353) | (44,190) | (4,612) | 67,885 | — | (1,233,097) | |
| Provision (reversal) for litigations | (17,503) | (951) | (162,414) | 31 | (24) | (445,741) | 2,860 | — | (623,742) | |
| Impairment of assets | (82,758) | — | — | — | (1,629) | — | 109,761 | — | 25,374 | |
| Other estimated losses, provisions and reversals | (992) | 3,065 | (119,481) | (1,755) | (1,064) | — | 1,064 | — | (119,163) | |
| Construction cost | — | (89,166) | (2,048,022) | — | (12,024) | — | 12,024 | — | (2,137,188) | |
| Provision for allocation of PIS and Cofins credits | — | — | (810,563) | — | — | — | — | (810,563) | ||
| Other operating costs and expenses, net | (294,933) | (5,892) | (185,361) | (4,989) | (15,242) | (26,100) | 45,176 | (1,977) | (489,318) | |
| EQUITY IN EARNINGS OF INVESTEES | 20,370 | 450,235 | — | — | — | 7,972 | — | — | 478,577 | |
| PROFIT (LOSS) BEFORE FINANCIAL INCOME AND TAX | 1,354,062 | 1,287,519 | 484,502 | 123,658 | 220,853 | (554,358) | 32,536 | — | 2,948,772 | |
| Financial income | 210,356 | 58,514 | 593,726 | 32,667 | 56,730 | 87,621 | (76,424) | (6,777) | 956,413 | |
| Financial expenses | (669,382) | (272,287) | (752,097) | (291) | (28,290) | (271,934) | 36,577 | 6,777 | (1,950,927) | |
| Update of provision for allocation of PIS and Cofins credits | — | — | (1,011,370) | — | — | — | — | — | (1,011,370) | |
| OPERATING PROFIT (LOSS) | 895,036 | 1,073,746 | (685,239) | 156,034 | 249,293 | (738,671) | (7,311) | — | 942,888 | |
| Income tax and social contribution | (241,816) | (56,354) | 455,465 | (47,659) | (70,092) | 159,578 | 81,977 | — | 281,099 | |
| NET INCOME (LOSS) FROM CONTINUING OPERATIONS | 653,220 | 1,017,392 | (229,774) | 108,375 | 179,201 | (579,093) | 74,666 | — | 1,223,987 | |
| Result of discontinued operations | — | — | — | — | — | — | (74,666) | — | (74,666) | |
| NET INCOME (LOSS) | 653,220 | 1,017,392 | (229,774) | 108,375 | 179,201 | (579,093) | — | — | 1,149,321 | |
31.4. Additions to noncurrent assets by reportable segment
| 12.31.2024 · Electric Energy · SER (a) · Holding · Total | ||||||
|---|---|---|---|---|---|---|
| GET · DIS · COM | ||||||
| Contract assets | — | 2,196,348 | — | — | — | 2,196,348 |
| Property, plant and equipment | 105,087 | — | 18 | 39,075 | 17 | 144,197 |
| Intangible assets | 4,299,529 | — | 1,319 | 261 | 2,378 | 4,303,487 |
| Right-of-use asset | 47,266 | 127,968 | 564 | 150 | 1,988 | 177,936 |
| (a) Copel Serviços started operating activities as of June 2024, as disclosed in Note 31.1. | ||||||
| 12.31.2023 · Electric Energy · GAS · Holding and Services · Total | ||||||
|---|---|---|---|---|---|---|
| GET · DIS · COM | ||||||
| Contract assets | — | 1,966,034 | — | 25,510 | — | 1,991,544 |
| Property, plant and equipment | 410,673 | — | 303 | — | 44,066 | 455,042 |
| Intangible assets | 10,280 | — | 1,280 | — | 1,828 | 13,388 |
| Right-of-use asset | 41,314 | 34,958 | 444 | (1,363) | 7,533 | 82,886 |
The table above includes R$118,002 of additions to property, plant and equipment in the power generation segment, that refer to UEGA, in addition to the Compagas additions shown in the gas segment column. According to Note 37, the divestment of these two subsidiaries was completed in 2024.
COMPANHIA PARANAENSE DE ENERGIA – COPEL and Subsidiaries
Notes to the Consolidated Financial Statements
For the year ended December 31, 2024
All amounts expressed in thousands of Brazilian reais, unless otherwise stated
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.