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Equatorial Energia (EQTL3) investor relations material
Equatorial Energia Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Adjusted consolidated EBITDA rose 32.4% to R$3.2 billion in 2Q25, driven by strong distribution and renewables performance, and improved operational quality across all DisCos.
Adjusted net income reached R$614 million, more than double the prior year, aided by margin expansion and equity pickup from SABESP.
Investments totaled R$2.7 billion, up 32.4% year-over-year, mainly allocated to distribution and electrical assets.
All distribution companies are now within regulatory FEC limits, with significant improvements in DEC and operational quality.
Billed and compensated volume increased 4% year-over-year, with net generated energy up 37%.
Financial highlights
Net operating revenues grew 22% year-over-year to R$12,795 million.
Adjusted EBITDA margin improved to 25.1% from 23.1% in 2Q24.
Net debt/EBITDA ratio at 3.1x, with net debt at R$45.2 billion.
Sabesp's equity pickup contributed R$312 million.
Cash/short-term obligation coverage at 1.3x.
Outlook and guidance
Ongoing focus on disciplined capital allocation, operational quality, and regulatory compliance, especially in sanitation.
Concession renewal processes for Maranhão and Pará progressing, with approvals at Aneel and contract amendments expected between October and November.
Continued efforts to address curtailment in renewables through industry collaboration and regulatory adaptation.
Expectation to maintain improved collection and delinquency levels, particularly in regions showing recent progress.
Sale closing for certain assets expected in 4Q25.
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