Brazil's Axia Energia posts Q3 net loss on Eletronuclear sale, announces dividends

Axia Energia SA

06/11/2025 24:06

SAO PAULO, Nov 5 (Reuters) - Brazilian power company Axia Energia ELET6.SA on Wednesday reported a net loss in the third quarter after booking non-cash expenses from its Eletronuclear stake sale, while also announcing the payment of dividends for its shareholders.

WHY IT'S IMPORTANT

The results highlight Axia's ongoing restructuring as it exits the nuclear power sector and streamlines operations, while maintaining shareholder returns despite the accounting loss. The company cited strong underlying performance and resilient power prices supporting its dividend decision.

KEY NUMBERS

Axia's board approved 4.3 billion reais ($795.72 million) in dividends despite the firm reporting a net loss of 5.45 billion reais in the July-September period. The adjusted net profit came at 2.2 billion reais, a 68% year-over-year decline.

The company booked a 7.0 billion reais non-cash expense from the Eletronuclear sale to the J&F Group. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were down 50.8% from a year earlier to 5.9 billion reais.

CONTEXT

Axia, formerly known as Eletrobras, last month sold its stake in Eletronuclear to Ambar Energia, a local energy company controlled by the owners of JBS, the world's largest meatpacker, for 535 million reais.

($1 = 5.4039 reais)

 (Reporting by Leticia Fucuchima; Writing by Fernando Cardoso; Editing by Brendan O'Boyle)

 ((fernando.cardoso@thomsonreuters.com;))