403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
CPFL Energia’S Q3 2024 Results: Growth Amidst Challenges
(MENAFN- The Rio Times) CPFL Energia, a major player in Brazil's energy sector, reported a net profit of R$1.33 billion ($233.3 million) in the third quarter of 2024.
This figure represents a 1.5% increase compared to the same period last year. The company's EBITDA reached R$3.2 billion ($561.4 million), showing modest 0.7% year-over-year growth.
The energy distributor saw a 4.1% rise in energy sales volume during Q3. Residential, commercial, and industrial sectors each experienced about 4% growth in energy consumption.
This uptick reflects improved economic activity and higher temperatures in São Paulo state. The warmer weather led to increased use of air conditioning systems.
However, CPFL faced challenges with higher default rates on electricity bills. The company reported a provision for doubtful debts to supply a revenue ratio of 1.22%.
High temperatures contributed to this issue by raising average customer bills. Additionally, floods in Rio Grande do Sul prevented the company from disconnecting non-paying customers.
Despite these obstacles, CPFL continued its investment strategy. The company invested R$1.5 billion ($263.2 million) in Q3, a 17.8% increase from the previous year. Of this amount, 76% went towards expanding and modernizing distribution networks.
This focus on infrastructure improvement aims to enhance service quality and reliability. CPFL's CEO, Gustavo Estrella, outlined an ambitious five-year investment plan.
The company aims to invest R$28.3 billion ($4.96 billion) to strengthen its distribution and transmission networks. This long-term strategy demonstrates CPFL's commitment to growth and service improvement.
This figure represents a 1.5% increase compared to the same period last year. The company's EBITDA reached R$3.2 billion ($561.4 million), showing modest 0.7% year-over-year growth.
The energy distributor saw a 4.1% rise in energy sales volume during Q3. Residential, commercial, and industrial sectors each experienced about 4% growth in energy consumption.
This uptick reflects improved economic activity and higher temperatures in São Paulo state. The warmer weather led to increased use of air conditioning systems.
However, CPFL faced challenges with higher default rates on electricity bills. The company reported a provision for doubtful debts to supply a revenue ratio of 1.22%.
High temperatures contributed to this issue by raising average customer bills. Additionally, floods in Rio Grande do Sul prevented the company from disconnecting non-paying customers.
Despite these obstacles, CPFL continued its investment strategy. The company invested R$1.5 billion ($263.2 million) in Q3, a 17.8% increase from the previous year. Of this amount, 76% went towards expanding and modernizing distribution networks.
This focus on infrastructure improvement aims to enhance service quality and reliability. CPFL's CEO, Gustavo Estrella, outlined an ambitious five-year investment plan.
The company aims to invest R$28.3 billion ($4.96 billion) to strengthen its distribution and transmission networks. This long-term strategy demonstrates CPFL's commitment to growth and service improvement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment