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Transmissora Aliança de Energia Elétrica (TAEE11) investor relations material
Transmissora Aliança de Energia Elétrica Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial and operational results in Q3 2025, with regulatory net revenues up 9.8% and disciplined cost control amid macroeconomic pressures.
Regulatory EBITDA increased 12.6% year-over-year in Q3 2025, with recurring OPEX growth below inflation and high operational availability of 99.93%.
Regulatory net income for Q3 2025 was R$323.3 million, up 5.2% year-over-year; 9M25 net income reached R$811.0 million, a 2.5% increase.
IFRS net income for 9M25 was R$1,215.8 million, up 2.4%; Q3 IFRS net income was R$340.6 million, down 16.8% year-over-year.
Significant progress in innovation, sustainability, and social initiatives, including the launch of TAESA Ventures and major awards for transparency and innovation.
Financial highlights
Regulatory net revenues reached R$650.5 million in Q3 2025, up 9.8% year-over-year; 9M25 revenues up 7% to R$1,869.7 million.
Regulatory EBITDA for Q3 2025 was R$548.8 million (+12.6% YoY); 9M25 EBITDA was R$1,580.1 million (+9.0% YoY), with an 84.5% margin.
Regulatory net income for Q3 2025 grew 5.2% to R$323.3 million; 9M25 net income up 2.5% to R$811.0 million.
CAPEX accelerated to R$1.3 billion for the year, up 89.8% versus the same period in 2024, mainly due to investments in Tangará, Ananaí, Saíra, and reinforcements.
Net debt at 3Q25 was R$11,976 million, with a net debt/EBITDA ratio stable.
Outlook and guidance
CAPEX for 2025 expected to reach R$1.6-1.8 billion, covering four greenfield projects and large-scale reinforcements.
Four large projects and six major reinforcements underway, with total ANEEL investment of R$4.7 billion.
Early completion and CAPEX efficiency expected for key projects, with EBITDA margins above 90% for new developments.
Two transmission auctions anticipated in 2026, with continued focus on disciplined growth and financial stability.
Deleveraging strategy expected to take effect from 2026, with leverage ratio projected to decline.
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