Slides
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ALUP B3 LISTED N2 ConferenceCall 4Q24 February 27, 2025
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1. 4Q24 Highlights 2. Status of Projects 3. 4Q24 Results 4. Profit Allocation 5. Capital Markets
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Consistently Sustainable Returns 4Q2 4 H i g hl ights 4Q24 3 36,6 36,6 36,6 66,6 57,1 76,1 1Q 2Q 3Q 2023 2024 Shareholders Position: November 14, 2024 Notice to Shareholders: December 18, 2024 Payment: January 06, 2025 3Q24 DividendsDividends Paid by Quarter (In BRL MM) Payout/Share 26.7% 45.5% 46.4% 19.0% R$ 0.07 per share (R$ 0.21/Unit) R$ 0.04 per share (R$ 0.12/Unit) R$ 0.04 per share (R$ 0.12/Unit) R$ 0.06 per share (R$ 0.18/Unit) 43.8% 23.6% R$ 0.04 per share (R$ 0.12/Unit) R$ 0.08 per share (R$ 0.24/Unit) Quarterly Results
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Fitch Reaffirms Alupar Rating 4Q2 4 H i g hl ights 4Q24 4 FITCH RATINGS reaffirms Alupar Rating January 10, 2025 AAA Corporate (National scale) BB+ International Scale in FC BBB- International Scale in LC Stable Outlook both for national scale rating and for international scale Quarterly Results
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Acquisition of Rialma IV Transmission Company 4Q2 4 H i g hl ights 4Q24 5 New Growth and Value Creation Avenues RAP (24/25 Cycle) R$ 20.6 MM CommercialOperation June/2023 ConcessionT erm March/2052 Project’sCaharacteristics Lot 03 from 002/2021-ANEEL Auction (Dec/21) with 162 km in extension. Quarterly Results
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Status of Projects December 20241,2,3 SUBSIDIARY LOCATION GENERAL STATUS LICENSING LANDWORK EQUIPMENT (SUBSTATIONS) EQUIPAMENT (T.LINES) CIVIL WORKS (SUBSTATIONS) CIVIL WORKS (TL’s) COLÔMBIA 100% 100% 100% SP N/A N/A N/A N/A SP 100% 100% 100% 100% 100% 100% AM/RR 100% 100% PERU In Progress Not Initiated Not Initiated Not Initiated CHILE In Progress Not Initiated Not Initiated Not Initiated Not Initiated COLÔMBIA In Progress Not Initiated Not Initiated Not Initiated Not Initiated Not Initiated Ana Maria CHILE In Progress In Progress In Progress In Progress IIIapa CHILE In Progress In Progress In Progress In Progress 96% 95% 70% 99% 99% 97% 43% 70% 67% 74% 16% 4% 3% 48% 42% 25% 4 8% 8% 6% 6% 20% 14% 5 8% 90% 15% 1) TAP e TPC (Brazil): engeneering / contracting / basic project phases; 2) Maravilla and Puno Sur: contracting of service providers; 3) Runatullo and TSA (Peru): engeneering / contracting / basic project phases; 4) ELTE: Considering the North Shore. The Southern Section was completed and entered into commercial operation in May/2024; 5) TECP: The project is divided into 5 phases and is currently in phase I with 12% general progress. 64Q24 6Quarterly Results
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Financial HighlightsQ 4 4 2 BRL MM 4Q24 4Q23 Var.% 2024 2023 Var.% Net Revenues 1,123.3 878.3 27.9% 4,002.1 3,311.4 20.9% EBITDA (Res. 156) 780.5 608.9 28.2% 3,070.8 2,511.6 22.3% Ebitda Margin 69.5% 69.3% 0.2 p.p 76.7% 75.8% 0.9 p.p. Adjusted Ebitda Margin1 80.7% 76.1% 4.6 p.p. 86.0% 82.6% 3.4 p.p. Financial Result (271.7) (183.9) 47.8% (951.1) (877.4) 8.4% Consolidated Net Profit 418.3 256.9 62.8% 1,859.9 1,151.0 61.6% (-) Minority Interest 188.0 115.7 62.4% 773.8 456.9 69.4% Alupar Net Profit 230.3 141.2 63.2% 1,086.1 694.1 56.5% Net Profit per UNIT (R$)2 0.73 0.46 56.9% 3.43 2.28 50.5% Net Debt3 9,138.8 8,942.9 2.2% 9,138.8 8,942.9 2.2% N. Debt / Ebitda4 3.0 3.6 3.0 3.6 BRL MM 4Q24 4Q23 Var.% 2024 2023 Var.% Net Revenues 872.3 787.5 10.8% 3,275.7 3,189.2 2.7% EBITDA (Res. 156) 654.0 620.2 5.4% 2,623.8 2,635.8 (0.5%) Ebitda Margin 75.0% 78.8% (3.8 p.p.) 80.1% 82.6% (2.5 p.p.) Financial Result (271.0) (182.8) 48.2% (948.1) (873.3) 8.6% Consolidated Net Profit 225.0 286.6 (21.5%) 1,072.1 1,166.1 (8.1%) (-) Minority Interest 127.0 129.2 (1.7%) 508.0 498.1 2.0% Alupar Net Profit 98.0 157.4 (37.7%) 564.1 668.0 (15.5%) Net Profit per UNIT (R$)2 0.31 0.52 (40.1%) 1.78 2.19 (18.8%) Net Debt3 9,138.8 8,942.9 2.2% 9,138.8 8,942.9 2.2% N. Debt / Ebitda4 3.5 3.4 3.5 3.4 4Q24 7Quarterly Results Key Indicators “CORPORATE LAW (IFRS)“ Key Indicators "REGULATORY"
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878,3 1.123,3 4Q23 4Q24 Net Revenues 27.9% Net Profit EBITDA1 608,9 780,5 2,2 168,9 49,2 49,2 14,6 11,8 39,7 (24,5) (14,2) (77,1) (46,3) (1,8) EBITDA 4Q23 OMR RCA IR Energy Supply Deductions Operating Costs Infrastructure Cost Energy Purchase General & Adm. Persnnel & Mmgt. Other Ver./Expenses Equity Pickup EBITDA 4Q24 84Q24 8 141,2 230,3 171,6 (87,9) 81,2(3,6) (72,2) Net Profit 4Q23 EBITDA Depreciation / Amortization Financial Result IR and CSLL Taxes Minority Interest Net Profit 4Q24 Corporate Results (IFRS, BRL Million) 4Q2 4 F i nancial H i g hl ight s (1) OMR – O&M Revenues / RCA – Revenues from Concession Assets Remuneration / IR – Infrastructure Revenues Quarterly Results
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787,5 872,3 4Q23 4Q24 157,4 98,0 33,8 2,3 (6,1) (88,2) (1,1) Net Profit 4Q23 EBITDA Depreciation / Amortization Financial ResultIR & CSLL Taxes Minority Interest Net Profit 4Q24 620,2 668,1 654,0 47,9 49,2 15,0(12,3) (14,0) (46,3) (1,8) (1,9) (1,9) EBITDA 4Q23 O&M Revenues Energy Supply Deductions Operating Costs Energy Purchase General & Administrative Personnel & Management Equity Pickup Others EBITDA 4Q24 Net Revenues 10.8% Net Profit EBITDA 4Q24 9 4Q2 4 F i nancial H i g hl ight s Regulatory Results (in R$ million) Quarterly Results
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Total Debt R$ 842.2 MM (-) Cash & Cash Equivalents R$ 1,313.6 MM (=) Net Debt R$ (471.4) MM 6,9835,3 IPCA + 6.5%1 100% 8ª Debentures Issuance (R$ 850.0 million) Short T erm Long T erm DebtProfile (BRL Million) DebtBreakdown (Index %) DebtBreakdown (BRL Million) 4Q24 10 4Q24 Debt Profile | Holding De b t (1) SWAP to 96.35% CDI Quarterly Results
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DebtProfile (BRL Million) DebtBreakdown (Index %) DebtBreakdown (BRL Million) Total Debt R$ 12,683.1MM (-) Cash & Cash Equivalents R$ 3,544.3 MM (=) Net Debt R$ 9,138.8 MM 24,7% 3,0% 15,0% 54,6% 2,7% 10.065,3 1.604,7 434,8 578,3 IPCA CDI Foreign CY TJLP Others Short T erm Long T erm 1.969,1 10.714,0 4Q24 11 4Q24 Debt Profile | Consolidated De b t Debêntures Other Development Banks Foreign CY BNDES (TJLP/IGPM) Quarterly Results
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1Q24 2Q24 3Q24 4Q24 ShareholderPosition: April 16, 2025 Payment: within 60 days from Approval 124Q24 R$ 66.6 MM R$ 0.07 per share (R$ 0.21/Unit) R$ 275.7 MM in 2024 R$ 0.29 per share (R$ 0.87/Unit) R$ 76.1 MM R$ 0.08 per share (R$ 0.24/Unit) R$ 57.1 MM R$ 0.06 per share (R$ 0.18/Unit) R$ 76.1 MM R$ 0.08 per share (R$ 0.24/Unit) R$ 199.6 MM R$ 0.21 per share (R$ 0.63/Unit) Payout: 51.5%1 ¹Payout = Net dividends paid or payable/Regulatory Net Profit after deducting 5% of legal reserve . Board Meeting: February 26, 2025 Quarterly Results Quarterly Dividends (4Q24) P r ofit Al l o cation Dividends Declared/Paid (BRL millions)
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Recommendation of the Board of Directors at a meeting held on February 26, 2025: Proportion: 4 new shares for each 100 shares owned (4.0% ratio); 38.8 million shares maintaining the proportion of Ordinary and Preferred stake in Equity; R$ 349.5 million; Subject to OEGM Approval to be held on April 16, 2025 R$ 27.57 per Unit R$ 9.19 per share 4Q24 13Quarterly Results Stock Bonus P r ofits Al l o cati on
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ALUP11: (8.45%) IEE: (18.43%) IBOV: (10.36%) ALUP11 X IBOV X IEE (4Q24) 2024 Avg.: R$ 27.8 MM Financial Volume Average 2024 Performance 144Q24 2023 Avg.: R$ 24.1 MM +15.4% Quarterly Results Performance Compared to the Main Market Indexes Cap i t al Mar kets 50 100 150 200 250 300 350 400 04-24-2013 08-24-2013 12-24-2013 04-24-2014 08-24-2014 12-24-2014 04-24-2015 08-24-2015 12-24-2015 04-24-2016 08-24-2016 12-24-2016 04-24-2017 08-24-2017 12-24-2017 04-24-2018 08-24-2018 12-24-2018 04-24-2019 08-24-2019 12-24-2019 04-24-2020 08-24-2020 12-24-2020 04-24-2021 08-24-2021 12-24-2021 04-24-2022 08-24-2022 12-24-2022 04-24-2023 08-24-2023 12-24-2023 04-24-2024 08-24-2024 12-24-2024 ALUP11 IBOV IEE
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4Q24 15Quarterly Results Disclaimer The stand-alone and consolidated financial statements were prepared in accordance with the accounting principles adopted in Brazil, which include corporation law, the pronouncements, instructions and interpretations issued by the Accounting Pronouncements Committee (CPC) and the regulations of the Securities and Exchange Commission of Brazil (CVM), combined with specific legislation issued by the National Electric Power Agency (ANEEL). As the industry regulator, ANEEL has powers to regulate the concessions. The results are usually presented in both IFRS and former formats in order to permit comparisons with other periods. However, the results presented in “Regulatory” format are not audited. ALUPAR uses the audited results based on the IFRS principles to declare dividends. The forward-looking statements contained in this document relating to the business outlook, projections of operational and financial results and the growth prospects of ALUPAR are merely projections, and as such are based exclusively on management’s expectations for the future of the business. These expectations depend materially on changes in market conditions and the performance of the Brazilian economy, the sector and international markets and therefore are subject to change without prior notice.
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IR Contact Tel.: +55 (11) 4571-2400 r.: 2481 | 2494 | 2363 ri@alupar.com.br