Financial Income - BRL Thousand |
4Q22 |
4Q21 |
Variation (%) |
|
Financial Revenue |
210,380 |
82,956 |
153.6 |
|
Revenue from Financial Investments |
127,366 |
32,555 |
291.2 |
The variation is mainly due to: (i) increase in yields on the following BB investments: a) Fundo FESC (R$ 20.9 million) and b) Other BB funds (R$ 20.2 million), due to the receipt of R$ 8.4 billion in Advance for Future Capital Increase, made by Eletrobras; (ii) consolidation of SAESA (+R$40.6 million), and in 4Q22, financial income was higher, due to the higher cash value for the balance of the contribution for payment of Arbitration, added to the benefits of postponing payment financing (standstill) December/21 - June/22, thus contributing significantly to the cash balance. |
Revenue from Financing and Loans |
5,729 |
6,137 |
-6.6 |
The variation is mainly due to: (i) lower increase in the index of amounts receivable from Eletronuclear in 4Q22 (the IPCA increased by 0.71% in 4Q22 and increased by 3.40% in 4Q21); (ii) As of August/22, the company stops updating the balance receivable from CELG, given that the loss was recognized in a provision as PCLD (Allowance for Doubtul Accounts). |
Energy Late Payment Addition |
267 |
107 |
149.5 |
The variation is mainly due to: (i) increase in revenue from Brazilian Electric Energy Trading Chamber (CCEE) Charges; (ii) short-term market settlement of approximately R$130,000. |
Inflation Adjustment on Assets |
71,424 |
28,311 |
152.3 |
The variation is mainly due to: (i) monetary restatement of approximately R$ 41 million received in October/22 from the lawsuit filed by Furnas against AES URUGUAIANA, the amount referring to the results recorded in the Short-Term Market from 2000 to 2002; (ii) consolidation of Saesa (+R$4.2 million), highlighting the recognition of R$3.7 million in active monetary restatement for the Use of Public Assets. |
Exchange Rate Change on Assets |
11,621 |
4,175 |
178.3 |
The variation is mainly due to the following factors: (i) it refers to a lower positive variation in the foreign currency quotation in 4Q22 compared to the same period in 2021, impacting, mainly, the energy customer bill in dollar. (In 4Q22: from 5.4066 to 5,2177 and in 4Q21: from 5.4394 to 5,5805). Client: GAMEK - Utilization Office of Middle Kwanza. |
Other Financial Revenues |
3,693 |
16,048 |
-77.0 |
The variation is mainly due to: (i) a fine imposed on Carbogás Energia Ltda., in the amount of R$10 million in December/21; (ii) consolidation of Saesa (- R$ 1.7 million, highlighting the recognition of a higher amount of adjustment to present value linked to the liability for the use of public property in (R$ 364 thousand) and PIS and COFINS credit on revenue in (R$ - 2.1 million). |
(-) Taxes on Financial Income |
-9,720 |
-4,377 |
-122.1 |
The variation is mainly due to: (i) PIS (0.65%) and COFINS (4%) levied on total financial income (except exchange variation) due to the increase in Income from Financial Applications of R $53 million in the period. |
Financial Expenses |
-1,009,862 |
-238,741 |
323.0 |
|
Debt Charges - Loans and Financing |
-708,912 |
-154,961 |
357.5 |
The variation is mainly due to: (i) the raising of 3 new loan agreements in 2Q22, with an impact of R$ 93 million more on the 4Q22 result; (ii) increase in interest on loan agreements indexed to the CDI of approximately R$42 million more in the 4Q22 result, CDI 4Q22: 13.65 and in 4Q21 of 9.15; (ii) consolidation of Saesa: record of R$433 million in charges given the consolidation took place in 2022, with no counterpart in 3Q22. Of this amount, around R$296 million is monetary restatement and interest on the debt and around R$137 million is debentures, also restated by the IPCA. |
Debt Charges - Obligations with CDE |
-154,171 |
0 |
- |
The variation is due to interest on the obligation with the Energy Development Account - CDE. The obligation with the CDE was determined by Law No. 14,182/2021 (Privatization of Eletrobras), as one of the conditions for obtaining new concession grants for electricity generation. The interest rate, of 7.60% per year, was calculated based on data published in Resolution CNPE 015/2021: (i) present value of the obligation; (ii) the future flow of payments; and (iii) the payment term. |
Debt Charges - Revitalization of Watershed |
-24,677 |
0 |
- |
The variation is due to interest on the obligation with projects to revitalize watersheds. The obligation was determined by Law No. 14,182/2021 (Eletrobras Privatization), as one of the conditions for obtaining new concession grants for electricity generation. The interest rate, of 5.67% per year, was calculated based on data published in Resolution CNPE 015/2021: (i) present value of the obligation; (ii) the future flow of payments; and (iii) the payment term. |
Charges - Leasing |
-2,577 |
-2,639 |
-2.3 |
Immaterial variation in the Financial Result. |
Charges on Shareholders’ Compensation |
0 |
69 |
100.0 |
Immaterial variation in the Financial Result. |
Inflation Adjustment on Liabilities |
35,537 |
-41,585 |
-185.5 |
The variation is mainly due to: (i) reduction of R$ 22.7 million, due to the lower increase in indexes of loans payable, specifically those due to Eletrobras and the Debentures, (IPCA-EBRAS - 4Q22: 243,432 to 247,570 or 1.70% and 4Q21: 226,656 to 234,032 or 3.25%). Debentures (DIPCA - 4Q22: 1,195.83487 to 1,209.16974 or 1.12% and 4Q21: 1,108.77345 to 1,142.80575 or 3.07%); (ii) consolidation of Saesa (+R$ 86.3 million), highlighting the recognition of the capitalization of arbitration costs, generating a positive impact of (R$ 81 million), reducing monetary restatement expenses, added to restatement of contingencies in (R$ 9 million) and update of the use of the public asset - UBP in (R$ - 3.4 million). |
Exchange Rate Change on Liabilities - Obligations with CDE |
-60,283 |
0 |
- |
The variation is due to the IPCA update of the obligation with the Energy Development Account - CDE. The obligation with the CDE was determined by Law No. 14,182/2021 (Privatization of Eletrobras), as one of the conditions for obtaining new concession grants for electricity generation. |
Exchange Rate Change on Liabilities - Revitalization of the Watershed |
-12,784 |
0 |
- |
The variation is due to the update by the IPCA of the obligation with projects to revitalize river basins. The obligation with the CDE was determined by Law No. 14,182/2021 (Privatization of Eletrobras), as one of the conditions for obtaining new concession grants for electricity generation. |
Exchange Rate Change on Liabilities |
-3 |
-20,178 |
-100.0 |
The variation is mainly due to: (i) negative variation in the foreign currency exchange rate, mainly impacting loans payable in dollars (in 4Q22: from 5.4066 to 5.2177 and in 4Q21: from 5.4394 to 5.5805). Currently, 4% of the debt is indexed to the exchange rate (Contracted at USD 2.0626 for contract ECR 258/97 - BID 1051). |
Other Financial Expenses |
-81,992 |
-19,447 |
321.6 |
The variation is mainly due to: (i) consolidation of Saesa (R$ 63 million), with emphasis on (a) the recognition of R$ -14.7 million of adjustment to Present Value - AVP linked to liabilities from the use of public property (R$ - 5.4 million); (b) monetary restatement of the installment of PIS/COFINS in (R$ - 2.5 million), (c) recognition of waiver in the 3rd issue of debentures due to contractual breaches (PL/Assets in Oct/22), in amount of (R$ -1.5 million), (iv) update of environmental provisions (R$ - 4 million), added by the update of R&D (R$ - 1 million). |
Financial Income |
-799,482 |
-155,785 |
413.2 |
|
|
|
-104,506 |
|
|
Equity Interests (Equity Method) - BRL Thousand |
4Q22 |
4Q21 |
Variation (%) |
|
Equity Interests (Equity Method) |
180,623 |
-325,451 |
155.5 |
The variation is mainly due to: (i) the positive impact, in this specific item, due to the fact that Saesa has been consolidated, as of 3Q22 in all lines, by Furnas, no longer negatively impacting this item of participations in R$ -489.2 million with Santo Antonio equity;
(ii) Other positive impacts due to the following Companies: (a) Chapecoense Geração S.A. (BRL 19 million); (b) Goiás Transmissão (R$9.4 million); and (c) Mata de Santa Geneva (R$8 million); partially offset, with the negative impacts due to the following Companies:
(d) Enerpeixe S.A. (BRL -14.18 million); (e) Triângulo Mineiro Transmissora S.A. (BRL -11.2 million); (f) Interligação Elétrica do Madeira S.A. (BRL -17.8 million). |
Other Operating Revenues and Expenses - BRL Thousand |
4Q22 |
4Q21 |
Variation (%) |
|
Other Operating Revenues and Expenses |
11,405 |
0 |
- |
The variation is mainly due to: (i) receipt of revenues related to the Leniency Agreement entered into in July/19: Grupo Camargo Correa (R$ 5.6 million) and Grupo NOVONOR S.A. (formerly Odebrecht S.A. BRL 6.4 million). |
|
|
0 |
|
|
Income Tax and CCSL - BRL Thousand |
4Q22 |
4Q21 |
Variation (%) |
|
Current Income Tax and Social Contribution on Net Income (CSLL) |
197,066 |
5,765 |
-3,318.3 |
The variation is mainly due to the following reasons: (i) there was a 65% increase in income before taxes (R$ 1 billion (Sep/22) to R$1.6 billion (Dec/22)), however, in this 4Q22, there was, in particular, an increase in the exclusion of the tax base, due to the fact that, in December 2022, JCP of R$ 853 million was paid especially. In addition, the positive effects of the Gag Improvement Reversal of R$134 million and the Table Impairment Reversal of R$322 million are excluded from the tax base. In this way, the base that should be levied on the 4Q22 Income Tax changed from R$ 1 billion (IFRS) to R$ 500 million (taxable base); (ii) on the other hand, in 4Q21, there was a slight decrease in the result of taxes (R$ 6 billion to R$ 5.9 billion), since the variations in additions and exclusions in 4Q21 were more equivalent, having the base that should charge the 4Q21 Income Tax from BRL 3.31 billion (IFRS) to BRL 3.36 billion; (iii) consolidation of Saesa, where the movement is made up of income tax and current CSLL of the MESA holding (CSLL R$ 3.5 thousand / IR R$ - 3.8 thousand). |
Deferred Income Tax and Social Contribution on Net Income (CSLL) |
-110,030 |
162,153 |
167.9 |
The variation is mainly due to the following reasons that impacted the tax calculation base: (i) reversal of impairment from Mesa R$2.1 billion (Sep/22 baseline) to R$1.4 billion (Dec/2007 baseline) 22), referring to the adjustment in the equity of the investee in the net amount of R$754.26 million; (ii) Additionally, we had a PLR reversal of R$161 million and a PLR (Profit Sharing) of R$-45 million; (iii) in addition to the creation of a PDV of R$ -179 million. |
Minority interest - BRL Thousand |
4Q22 |
4Q21 |
Variation (%) |
|
Minority Interest |
-22,185 |
-121 |
-18,235 |
The variation was mainly due to the effects of consolidation. |