Sustainability Report ENEVA 2020
10.1 MACROECONOMIC
SCENARIO
National Gross Domestic Product (GDP) was R$7.4 trillion in
2020, a decrease of 4.1% compared to 2019, after three years of
subsequent growth. The drop - the most significant of the annual
series started in 1996 and measured by the Brazilian Institute
of Geography and Statistics (IBGE) - was caused by the total or
partial shutdown of several economic activities due to the Covid-19
pandemic.
Brazil's official inflation, measured by the Extended National
Consumer Price Index (IPCA), is expected to rise to 4.52% in 2020
(4.31% in 2019). In comparison with 2019, Brazilian exports and
imports also dropped. The nominal exchange rate ended 2020
with depreciation of 28.93% from the previous period. The
interest rate, measured by the Selic Rate, was 2% in the period.
The average unemployment rate for the year was 13.5%, the highest
since 2012, with about 13.4 million people looking for work in
the country, according to data from IBGE's National Continuous
Household Sample Survey (PNAD ContÃnua), also impacted by the
Covid-19 pandemic.
10.2 ECONOMIC-FINANCIAL
PERFORMANCE
[GRI 103-1 | 103-2 | 103-3-201]
Despite the scenario of economic contraction and reduced levels of thermal power plant dispatch, we generated net revenues of R$3.243 million, a
growth of 3.4% compared to 2019.
The lower dispatch of thermal power plants led to a decrease in operating costs, mainly fuel costs, which totaled R$1,745 million for the year. Operating
expenses grew by 20% to R$449 million, due to the increase in the number of employees resulting from our growth strategy and various expenses related
to the initiatives to prevent and combat Covid-19.
As a result, our EBITDA totaled R$1,616 million, an increase of 8.2% over the previous year. Net income for the year grew 67.7%, in the same comparison,
reaching R$1,007 million.
ECONOMIC-FINANCIAL INDICATORS
Net Operating Revenue
2019
2020
Change
3,137.4
3,243.3
3.4%
EBITDA ICVM 527/12
1,456.7
1,598.9
9.8%
EBITDA excluding dry wells'
1,493.7
1,616.9
8.2%
- EBITDA Margin (excluding dry wells)
47.6%
49.9%
2.2 p.p.
Net Result
600.8
1,007.6
67.7%
Investments
1,056.2
2,272.4
115.1%
Notes:
Operating Cash Flow
1,413.6
1,292.0
-8.6%
Net Debt (R$ Billion)
3.9
5.2
35.6%
Net Debt/EBITDA2
2.7
3.3
23.5%
The results are detailed in our 2020
Financial Statements, available on the
Investor Relations website.
https://bit.ly/3ydDloX
1 EBITDA calculated in accordance with the guidelines of ICVM 527/12 and the
accompanying Note, adjusted to exclude the impact of dry wells.
2 Calculated considering the cumulative EBITDA as per the ICVM 527/12 guidelines
for the last 12 months.
ABOUT
LETTER FROM
ABOUT
FIGHTING
THIS REPORT
MANAGEMENT
ENEVA
COVID-19
INTELLECTUAL &
ORGANIZATIONAL
CAPITAL
SOCIAL &
MANUFACTURED
HUMAN
NATURAL
CAPITAL
CAPITAL
RELATIONSHIP
CAPITAL
CAPITAL
FINANCIAL
CAPITAL
APPENDICES
GRI
CONTENT
INDEX
SASB
CONTENT
INDEX
SUSTAINABILITY REPORT ENEVA 2020
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