Copel (CPLE3) reported consolidated recurring EBITDA of R$ 1.6126 bn (EBITDA is earnings before interest, taxes, depreciation, and amortization) in the second quarter of 2026, an increase of 20.8% compared with 2Q25. Recurring net income reached R$ 645.1 mn in 2Q26, up 42.6% year over year, a movement the company attributed to better operating performance, higher cost efficiency, and a lower effective income tax rate.
In the period, the distributor’s (Copel DIS) EBITDA rose 34.5%, with an increase of R$ 196.3 mn compared with 2Q25, driven by 7.2% growth in billed wire market and a 0.4% reduction in recurring manageable costs (PMSO). Meanwhile, the generator and transmitter’s (Copel GeT) EBITDA increased 10.1%, with an additional R$ 76.8 mn, supported by a higher average energy selling price, a favorable hydrological scenario, and a 6.3% drop in recurring PMSO.
The company highlighted revenue of R$ 74.6 mn from hydrological modulation and submarket in 2Q26, as well as a 319% increase in energy sales for 2027–2028, with an average price (P-MIX) 6% above hydropower-based sales carried out in the first quarter of 2026. Reported default in trading was 0.01%, and portfolio management remained focused on capturing market opportunities.
Consolidated investments (capex) totaled R$ 957.2 mn in 2Q26, within an annual plan that foresees R$ 3.021 bn in 2026, considering allocations to generation, transmission, distribution, and approximately R$ 318 mn tied to the Capacity Reserve Auction (LRCAP). In distribution, resources were directed to service quality and grid expansion, while in generation and transmission Copel maintained projects such as expansions at the Foz do Areia and Segredo hydropower plants.
On June 30, 2026, Copel’s financial leverage, measured by the net debt/recurring EBITDA ratio, stood at 2.9 times, a level the company says is aligned with the new parameters of its optimal capital structure, whose target has become precisely 2.9 times, with a tolerance range between 2.6 and 3.2 times. In terms of shareholder remuneration, on June 30, 2026 Copel paid dividends related to December 2025 in the total amount of R$ 1.35 bn and approved interest on equity (JCP) of R$ 706 mn, equivalent to R$ 0.2377 per share, with payment scheduled for September 30, 2026.
