Brazilian Electric Power Co. Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: AXIA-P · Form: 20-F · Filed: Apr 25, 2024 · CIK: 1439124

Brazilian Electric Power Co 20-F Filing Summary
FieldDetail
CompanyBrazilian Electric Power Co (AXIA-P)
Form Type20-F
Filed DateApr 25, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$19.6 billion, $2.04 b, $11.5 billion
Sentimentneutral

Sentiment: neutral

Topics: 20-F, Brazilian Electric Power, Annual Report, Energy Sector, Financials

TL;DR

<b>Brazilian Electric Power Co. filed its 20-F for FY2023, detailing subsidiary activities and financial information.</b>

AI Summary

BRAZILIAN ELECTRIC POWER CO (AXIA-P) filed a Foreign Annual Report (20-F) with the SEC on April 25, 2024. The filing is a Form 20-F for the fiscal year ended December 31, 2023. The company's principal executive offices are located in Rio de Janeiro, Brazil. The filing includes information on various subsidiaries and their activities throughout 2023. Key dates mentioned include December 21, 2023, for transactions involving Furnas Centrais Elétricas S.A. and subsidiaries. The filing references specific financial instruments and benefit obligations as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking BRAZILIAN ELECTRIC POWER CO, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational activities for the fiscal year 2023, crucial for investors assessing its current standing. The detailed information on subsidiaries and specific transactions offers insights into the company's structure and strategic movements within the Brazilian energy sector.

Risk Assessment

Risk Level: medium — BRAZILIAN ELECTRIC POWER CO shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of information, but lacks specific forward-looking financial guidance or significant event disclosures that would indicate immediate high risk or reward.

Analyst Insight

Investors should review the detailed subsidiary information and financial disclosures to understand the company's operational structure and financial health for the past fiscal year.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-04-25 — Filing Date (Filed as of date)
  • 001-34129 — SEC File Number (SEC file number)
  • 4911 — SIC Code (Standard Industrial Classification)

Key Players & Entities

  • BRAZILIAN ELECTRIC POWER CO (company) — Filer name
  • RIO DE JANEIRO (location) — Business address city
  • 2023-12-31 (date) — Conformed period of report
  • 2024-04-25 (date) — Filed as of date
  • Furnas Centrais Elétricas S.A. (company) — Subsidiary mentioned in transactions
  • Vale do São Bartolomeu Transmissora de Energia S.A. (company) — Subsidiary mentioned in transactions
  • Triângulo Mineiro Transmissora (company) — Subsidiary mentioned in transactions
  • Retiro Baixo Energética S.A. (company) — Subsidiary mentioned in transactions

FAQ

When did BRAZILIAN ELECTRIC POWER CO file this 20-F?

BRAZILIAN ELECTRIC POWER CO filed this Foreign Annual Report (20-F) with the SEC on April 25, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by BRAZILIAN ELECTRIC POWER CO (AXIA-P).

Where can I read the original 20-F filing from BRAZILIAN ELECTRIC POWER CO?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BRAZILIAN ELECTRIC POWER CO.

What are the key takeaways from BRAZILIAN ELECTRIC POWER CO's 20-F?

BRAZILIAN ELECTRIC POWER CO filed this 20-F on April 25, 2024. Key takeaways: The filing is a Form 20-F for the fiscal year ended December 31, 2023.. The company's principal executive offices are located in Rio de Janeiro, Brazil.. The filing includes information on various subsidiaries and their activities throughout 2023..

Is BRAZILIAN ELECTRIC POWER CO a risky investment based on this filing?

Based on this 20-F, BRAZILIAN ELECTRIC POWER CO presents a moderate-risk profile. The filing is a standard annual report (20-F), which typically contains a broad range of information, but lacks specific forward-looking financial guidance or significant event disclosures that would indicate immediate high risk or reward.

What should investors do after reading BRAZILIAN ELECTRIC POWER CO's 20-F?

Investors should review the detailed subsidiary information and financial disclosures to understand the company's operational structure and financial health for the past fiscal year. The overall sentiment from this filing is neutral.

How does BRAZILIAN ELECTRIC POWER CO compare to its industry peers?

The company operates within the electric services industry in Brazil.

Are there regulatory concerns for BRAZILIAN ELECTRIC POWER CO?

As a Brazilian company filing a 20-F, it adheres to SEC regulations for foreign private issuers.

Industry Context

The company operates within the electric services industry in Brazil.

Regulatory Implications

As a Brazilian company filing a 20-F, it adheres to SEC regulations for foreign private issuers.

What Investors Should Do

  1. Review the full 20-F filing for detailed financial statements and management discussion.
  2. Analyze the specific transactions and subsidiary information for strategic insights.
  3. Compare the 2023 performance against previous years' filings.

Year-Over-Year Comparison

This is the initial filing analyzed for the fiscal year 2023.

Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2024-04-25 17:30:45

Key Financial Figures

  • $19.6 billion — ber 31, 2022, SAESA's indebtedness was R$19.6 billion and its consolidation increased our con
  • $2.04 b — ng comprised an increase in capital of R$2.04 billion, and such funds were fully used t
  • $11.5 billion — SAESA to BNDES FINEM in the amount of R$11.5 billion. As of the date of this annual report,

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b 2 of the Exchange Act.). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents TABLE OF CONTENTS Page PRESENTATION OF FINANCIAL AND OTHER INFORMATION 3 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 11 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 13 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 13 ITEM 3. KEY INFORMATION 13 ITEM 4. INFORMATION ON THE COMPANY 44 ITEM 4A. UNRESOLVED STAFF COMMENTS 100 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 101 ITEM 5A. OPERATING RESULTS 111 ITEM 5B. LIQUIDITY AND CAPITAL RESOURCES 118 ITEM 5C. RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES 122 ITEM 5D. TREND INFORMATION 125 ITEM 5E. CRITICAL ACCOUNTING ESTIMATES 126 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 127 ITEM 6A. BOARD OF DIRECTORS AND SENIOR MANAGEMENT 127 ITEM 6B. COMPENSATION 132 ITEM 6C. BOARD PRACTICES 134 ITEM 6D. EMPLOYEES 136 ITEM 6E. SHARE OWNERSHIP 137 ITEM 6F. DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 138 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 138 ITEM 7A. MAJOR SHAREHOLDERS 138 ITEM 7B. RELATED PARTY TRANSACTIONS 140 ITEM 7C. INTERESTS OF EXPERTS AND COUNSEL 142 ITEM 8. FINANCIAL INFORMATION 142 ITEM 8A. CONSOLIDATED FINANCIAL STATEMENTS AND OTHER INFORMATION 142 ITEM 8B. SIGNIFICANT CHANGES 152 ITEM 9. THE OFFER AND LISTING 152 ITEM 9A. OTHER AND LISTING DETAILS

DILUTION

DILUTION 158 ITEM 9F. EXPENSES OF THE ISSUE 158 ITEM 10. ADDITIONAL INFORMATION 158 ITEM 10A. SHARE CAPITAL 158 ITEM 10B. BYLAWS 159 ITEM 10C. MATERIAL CONTRACTS 166 ITEM 10D. EXCHANGE CONTROLS 166 ITEM 10E. TAXATION 167 ITEM 10F. DIVIDENDS AND PAYING AGENTS 175 ITEM 10G. 175 ITEM 10H. DOCUMENTS ON DISPLAY 175 ITEM 10I. SUBSIDIARY INFORMATION 176 ITEM 10J. ANNUAL REPORT TO SECURITY HOLDERS 176 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 176 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 178 ITEM 12A. DEBT SECURITIES 178 ITEM 12B. WARRANTS AND RIGHTS 178 ITEM 12C. OTHER SECURITIES 178 ITEM 12D. AMERICAN DEPOSITARY SHARES 178 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 179 1 Table of Contents ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 179 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 179 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 180 ITEM 16B. CODE OF CONDUCT 180 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 182 ITEM 16D. EXEMPTION FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 183 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 183 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 183 ITEM 16G. CORPORATE GOVERNANCE 183 ITEM 16H. MINE SAFETY DISCLOSURE 183 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTION 183 ITEM 16J. INSIDER TRADING POLICIES 184 ITEM 16K. CYBERSECURITY 184 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 186 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 186 ITEM 19. EXHIBITS 187

SIGNATURES

SIGNATURES 188 CONSOLIDATED FINANCIAL STATEMENTS F-1 2 Table of Contents PRESENTATION OF FINANCIAL AND OTHER INFORMATION In this annual report, unless otherwise indicated or the context otherwise requires, all references to "we," "our," "ours," "us" or similar terms refer to Centrais Eltricas Brasileiras S.A.—Eletrobras and its consolidated subsidiaries. We have prepared our consolidated annual financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023 ("Consolidated Financial Statements") in compliance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IFRS Accounting Standards"), including the interpretations issued by the IFRS Interpretations Committee (IFRIC Interpretations) or by its preceding body, Standing Interpretations Committee (SIC Interpretations). For certain statutory purposes, such as providing reports to our shareholders located in Brazil and determining dividend payments, other profit distributions and tax liabilities in Brazil, we also prepare, as is required, a parent company and consolidated statutory financial statements in accordance with accounting practices adopted in Brazil and IFRS Accounting Standards, which must be filed with the CVM within three months after the year's end and approved by our shareholders' general ordinary meeting within four months after the year's end to comply with the Brazilian and U.S. Corporate Law. On June 17, 2022, our Privatization was consummated pursuant to the guidelines established by the Eletrobras Privatization Law. Our Privatization process included a primary and secondary public offering of our common shares in Brazil and abroad which resulted in the dilution of the direct and indirect interest of the Brazilian Government in our common shares from 72.3% before the Privatization to the current interest of 46.64% of our common shares, corresponding to 10% of our

View Full Filing

View this 20-F filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.