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CPFL Energia (CPFE3) investor relations material
CPFL Energia Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
EBITDA for Q2 reached R$3.0 billion, up 6.7% year-over-year; net income grew 7.8% to R$1.19 billion in the quarter, while H1 net income declined 1.9% to R$2.8 billion.
Distribution segment led EBITDA growth, while generation and transmission segments saw declines due to asset write-offs, curtailment, and regulatory adjustments.
Moody's upgraded the global corporate rating to Baa2, two notches above the sovereign rating.
ANEEL approved early extension requests for key distribution concessions, pending MME decision.
PMSO expenses fell 1.8% due to lower allowances for doubtful accounts and cost control.
Financial highlights
Q2 EBITDA increased by 6.7% to R$3.0 billion; net income for Q2 rose 7.8% to R$1.19 billion; H1 EBITDA totaled R$6.9 billion (+2.6%), but H1 net income declined 1.9% to R$2.8 billion.
Net debt stood at R$27.3 billion, with leverage at 2.07x Net Debt/EBITDA.
CAPEX in Q2 was R$1.42 billion (+5.1% year-over-year); H1 CAPEX was R$2.66 billion (+8.7%).
Gross Operating Revenue rose 6.3% to R$15.1 billion; Net Operating Revenue increased 9.2% to R$10.5 billion year-over-year.
Dividends of R$3.2 billion (R$2.79/share) were approved for 2024 results.
Outlook and guidance
Expectation to conclude concession renewal processes in the coming months, supporting long-term investment plans.
Estimated group-wide Capex for 2025 is R$6.5 billion; multiannual investment plan (2025–2029) totals R$29.8 billion, with R$24.7 billion allocated to Distribution.
Tariff readjustments: Paulista (+7.53% in Apr-25), RGE (+4.90% in Jun-25) in Parcel B.
Curtailment in renewables remains a sector challenge, with efforts underway to address it.
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