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Condensed individual financial information of Companhia Paranaense de Energia - Copel | 12 Months Ended
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Dec. 31, 2024
Individual Financial Information Of Companhia Paranaense De Energia - Copel |
Condensed individual financial information of Companhia Paranaense de Energia - Copel | 39. Condensed individual financial information of Companhia Paranaense de Energia - Copel In order to attend Rule 12-04 of Regulation S-X of the Securities and Exchange Commission (the “SEC”), Management has incorporated the condensed individual financial information of Companhia Paranaense de Energia - Copel in these financial statements, as part of the Form 20-F. This information were prepared considering the same accounting policies as described in Note 3 and 4 to Company’s consolidated financial statements. Investments in subsidiaries are recognized in the individual financial statements based on the equity method. Initially recorded at cost, their carrying amount is increased or decreased by the recognition of the investor's interest in profit, loss and other comprehensive income generated by subsidiaries after acquisition. When required, for the calculation of equity in earnings of investees, the subsidiaries financial statements are adjusted to align their policies with the Parent Company's accounting policies. 39.1. Condensed statements of financial position
ASSETS | 12.31.2024 | 12.31.2023
Current assets |  |
Cash and cash equivalents | 280,340 |  | 2,231,413 |
Bonds and securities | 95 |  | 93 |
Dividends receivables (39.5.3) | 2,644,431 |  | 1,942,406 |
Other current receivables | 301,929 |  | 2,431 |
Income tax and social contribution | 32,349 |  | 113,532 |
Prepaid expenses | 944 |  | 1,897 |
Receivable from related parties (39.5.1) | 4,754 |  | 54 |
| 3,264,842 |  | 4,291,826 |
Assets held for sale | — |  | 528,195 |
| 3,264,842 |  | 4,820,021 |
Noncurrent assets |  |
Other temporary investments | 15,894 |  | 31,728 |
Judicial deposits | 136,677 |  | 143,371 |
Other current receivables | 298,120 |  | 18 |
Income tax and social contribution | 79,504 |  | — |
Deferred tax assets | 136,536 |  | 359,485 |
Other noncurrent recoverable taxes | 42,126 |  | 41,078 |
Receivables from related parties (39.5.1) | — |  | 35,507 |
| 708,857 |  | 611,187 |
Investments (39.5.2) | 22,431,868 |  | 19,906,237 |
Property, Plant and Equipment, net | 7,248 |  | 8,424 |
Intangible Assets | 8,546 |  | 6,336 |
Right-of-use asset | 7,815 |  | 6,692 |
| 23,164,334 |  | 20,538,876 |
Total assets | 26,429,176 |  | 25,358,897 |
LIABILITIES | 12.31.2024 | 12.31.2023
Current liabilities |  |
Payroll, social charges and accruals | 20,805 |  | 30,608 |
Related parties (39.5.1) | 1,690 |  | 1,838 |
Suppliers (39.5.6) | 3,362 |  | 4,530 |
Income tax and social contribution | — |  | 183 |
Other taxes payable | 614 |  | 476 |
Dividends payable | 3,881 |  | 464,147 |
Post employment benefits | 4,348 |  | 3,842 |
Lease liability | 604 |  | 405 |
Other accounts payable | 369,395 |  | 15,136 |
Provisions for legal claims | — |  | 336,000 |
| 404,699 |  | 857,165 |
Noncurrent liabilities |  |
Payroll, social charges and accruals | 427 |  | — |
Related parties (39.5.1) | 5,851 |  | 5,851 |
Other taxes due | — |  | 4,030 |
Post employment benefits | 37,631 |  | 47,537 |
Lease liability | 7,761 |  | 6,681 |
Other accounts payable | 90,966 |  | 25,297 |
Provisions for legal claims (39.5.4) | 207,123 |  | 526,183 |
| 349,759 |  | 615,579 |
Equity |  |
Share capital | 12,821,758 |  | 12,821,758 |
Capital reserve | 5,595 |  | — |
Equity valuation adjustments | 517,408 |  | 307,050 |
Treasury shares | (50,044) |  | — |
Legal reserves | 1,766,110 |  | 1,625,628 |
Retained earnings | 9,363,866 |  | 9,000,506 |
Additional dividends proposed | 1,250,025 |  | 131,211 |
| 25,674,718 |  | 23,886,153 |
Total liabilities and equity | 26,429,176 |  | 25,358,897 |
39.2. Condensed statements of income
| 12.31.2024 | 12.31.2023 | 12.31.2022
Operating revenues (expenses) |  |  |
General and administrative expenses | (165,896) |  | (177,097) |  | (111,665) |
Other revenues (expenses), net | (87,455) |  | (38,990) |  | (441,601) |
Result of equity in investees | 2,512,087 |  | 2,332,609 |  | 1,746,263 |
| 2,258,736 |  | 2,116,522 |  | 1,192,997 |
Operating income before financial results | 2,258,736 |  | 2,116,522 |  | 1,192,997 |
Financial income (expenses) |  |  |
Financial revenues | 211,411 |  | 145,881 |  | 57,658 |
Financial expenses | (147,583) |  | (115,669) |  | (177,375) |
| 63,828 |  | 30,212 |  | (119,717) |
Operating income | 2,322,564 |  | 2,146,734 |  | 1,073,280 |
Income tax and social contribution |  |  |
Income tax and social contribution | 6,732 |  | (5,737) |  | — |
Deferred income tax and social contribution | 16,645 |  | 17,080 |  | 164,539 |
| 23,377 |  | 11,343 |  | 164,539 |
Net income from continuing operations | 2,345,941 |  | 2,158,077 |  | 1,237,819 |
Discontinued operations |  |  |
Net income (loss) from discontinued operations | 463,690 |  | 100,733 |  | (125,812) |
Net income | 2,809,631 |  | 2,258,810 |  | 1,112,007 |
BASIC EARNING PER SHARE ATTRIBUTED TO CONTROLLING SHAREHOLDERS – Expressed in Brazilian Reais |  |  |
Common shares | 0.89163 |  | 0.78574 |  | 0.38839 |
Class A preferred shares | 0.98165 |  | 0.90931 |  | 0.50343 |
Class B preferred shares | 0.98086 |  | 0.80600 |  | 0.41745 |
DILUTED EARNING PER SHARE ATTRIBUTED TO CONTROLLING SHAREHOLDERS – Expressed in Brazilian Reais |  |  |
Common shares | 0.89051 |  | 0.78574 |  | 0.38839 |
Class A preferred shares | 0.98165 |  | 0.90931 |  | 0.50343 |
Class B preferred shares | 0.98087 |  | 0.80600 |  | 0.41745 |
39.3. Condensed statement of comprehensive income
| 12.31.2024 | 12.31.2023 | 12.31.2022
NET INCOME | 2,809,631 |  | 2,258,810 |  | 1,112,007 |
Other comprehensive income |  |  |
Items that will never be reclassified to profit or loss |  |  |
Adjustments related to actuarial liabilities |  |  |
Post employment benefits | 9,483 |  | (25,082) |  | (11,336) |
Post employment benefits - equity | 233,629 |  | (234,283) |  | 209,991 |
Taxes on other comprehensive income | (3,224) |  | 8,528 |  | 3,854 |
Items that may be reclassified to profit or loss |  |  |
Adjustments related to financial assets - equity | (184) |  | (2,942) |  | 4,757 |
Total comprehensive income, net of taxes | 239,704 |  | (253,779) |  | 207,266 |
TOTAL COMPREHENSIVE INCOME | 3,049,335 |  | 2,005,031 |  | 1,319,273 |
39.4. Condensed statements of cash flows
| 12.31.2024 | 12.31.2023 | 12.31.2022
Net cash generated from operating activities | (183,674) |  | 811,605 |  | 3,079,427 |
Cash flow from investing activities |  |  |
Financial investments | 15,832 |  | (6,109) |  | (5,636) |
Loans and financing granted to related parties | (22,200) |  | (236,024) |  | (146,063) |
Receipt of loans and financing granted to related parties | 22,200 |  | 282,087 |  | 100,000 |
Investment disposal | 2,066 |  | 14,533 |  | — |
Additions in investments | (613,150) |  | (61,950) |  | (4,829) |
Additions to property, plant and equipment | (17) |  | (1,659) |  | (4,436) |
Additions to intangible assets | (2,378) |  | (1,742) |  | (1,592) |
Net cash used in investing activities from continuing operations | (597,647) |  | (10,864) |  | (62,556) |
Net cash generated by investment activities from discontinued operations | 467,566 |  | (35,000) |  | — |
Net cash used from investing activities | (130,081) |  | (45,864) |  | (62,556) |
Cash flow from financing activities |  |  |
Amortization of principal - loans and financing | — |  | — |  | (774,899) |
Amortization of principal - debentures | — |  | — |  | (500,000) |
Payments of principal of lease liabilities | (709) |  | (512) |  | (378) |
Capital increase | — |  | 2,031,619 |  | — |
Transaction costs in capital increase | — |  | (14,941) |  | — |
Share buyback | (50,044) |  | — |  | — |
Dividends and interest on own capital paid | (1,586,565) |  | (750,371) |  | (2,167,769) |
Net cash used in financing activities | (1,637,318) |  | 1,265,795 |  | (3,443,046) |
Total effects on cash and cash equivalents | (1,951,073) |  | 2,031,536 |  | (426,175) |
Cash and cash equivalents at the beginning of the period | 2,231,413 |  | 199,877 |  | 626,052 |
Cash and cash equivalents at the end of the period | 280,340 |  | 2,231,413 |  | 199,877 |
Change in cash and cash equivalents | (1,951,073) |  | 2,031,536 |  | (426,175) |
39.5. Additional individual information related to Companhia Paranaense de Energia - Copel 39.5.1. Related Parties
| 12.31.2024 | 12.31.2023
Assets |  |
Structure sharing (a) | 4,754 |  | 54 |
UEGA - loan agreement (b) | — |  | 35,507 |
| 4,754 |  | 35,561 |
Liabilities |  |
Structure sharing (a) | 1,690 |  | 1,838 |
Elejor advance | 5,851 |  | 5,851 |
| 7,541 |  | 7,689 |
a) Structure sharing Balances mainly refer to contracts for sharing personnel and management expenses entered between Copel and its direct and indirect subsidiaries. b) Loan Agreement - UEG Araucária On July 4, 2023, a loan agreement was signed between Copel and UEG Araucária, with the approval of limits plus IOF and interest of CDI + 1.40% p.a., to provide resources for financing the company activities and business. The contract was settled on July 1, 2024. 39.5.2. Investments
| 12.31.2024 | 12.31.2023
Copel Geração e Transmissão | 14,239,420 |  | 12,551,604 |
Copel Distribuição | 7,665,584 |  | 6,782,865 |
Copel Serviços | 63,270 |  | 54,323 |
Copel Comercialização | 288,626 |  | 342,204 |
Elejor | 8,480 |  | 9,235 |
Other investments (a) | 166,488 |  | 166,006 |
| 22,431,868 |  | 19,906,237 |
(a) The information regarding joint ventures, associates and other investments are presented in Note 14. 39.5.3. Dividends receivable
| 12.31.2024 | 12.31.2023
Subsidiaries |  |
Copel Geração e Transmissão | 1,699,433 |  | 1,274,433 |
Copel Distribuição | 663,654 |  | 460,904 |
Copel Comercialização | 280,873 |  | 185,341 |
Compagas | — |  | 12,400 |
UEG Araucária | — |  | 8,756 |
Joint ventures and Associates |  |
Dona Francisca | 54 |  | 514 |
Other investments | 417 |  | 58 |
| 2,644,431 |  | 1,942,406 |
39.5.4. Provisions for legal claims
| 12.31.2024 | 12.31.2023
Tax Claim | 190,571 |  | 167,062 |
Labor | 5,099 |  | 4,812 |
Employee benefits | 375 |  | 290 |
Civil | 11,078 |  | 690,019 |
| 207,123 |  | 862,183 |
39.5.5. Restriction of transfer of funds from subsidiaries The subsidiaries described below qualify as either concessionaires of public services or independent power producers. As such, any transfer of funds to the respective Parent Company, in the form of loans or advances, requires approval by the regulator. This regulatory restriction does not apply to cash dividends determined in accordance with the Brazilian Corporate Law. Total restricted subsidiaries net assets are composed as follows:
| 12.31.2024 | 12.31.2023
Copel Geração e Transmissão | 14,239,420 |  | 12,748,168 |
Copel Distribuição | 7,665,584 |  | 6,782,866 |
Compagas | — |  | 514,666 |
UEG Araucária | — |  | 317,611 |
| 21,905,004 |  | 20,363,311 |
39.5.6. Liquidity The following table shows the expected undiscounted settlement values of the Copel liabilities, in each time range:
| Interest (a) | Less than 1 month | 1 to 3 months | 3 months to 1 year | 1 to 5 years | Over 5 years | Total
12.31.2024 |  |  |  |  |  |  |
Suppliers | — |  | 3,356 |  | — |  | 6 |  | — |  | — |  | 3,362 |
Lease liability | 4.35% a 15.55% a.a. | 82 |  | 168 |  | 761 |  | 3,016 |  | 7,463 |  | 11,490 |
|  | 3,438 |  | 168 |  | 767 |  | 3,016 |  | 7,463 |  | 14,852 |
(a) Effective interest rate - weighted average.

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