Brazilian Electric Power CO 6-K Filing

Ticker: AXIA-P · Form: 6-K · Filed: Nov 12, 2025 · CIK: 1439124

Sentiment: neutral

Filing Stats: 4,549 words · 18 min read · ~15 pages · Grade level 7.7 · Accepted 2025-11-12 06:02:54

Filing Documents

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of November, 2025 Commission File Number 1-34129 CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS (Exact name of registrant as specified in its charter) BRAZILIAN ELECTRIC POWER COMPANY (Translation of Registrant's name into English) Rua da Quitanda, 196 – 24th floor, Centro, CEP 20091-005, Rio de Janeiro, RJ, Brazil (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes _______ No___X____ TABLE OF CONTENTS 1.CONSOLIDATED RESULT | IFRS AND REGULATORY 7 2.ADJUSTED CONSOLIDATED RESULT | IFRS AND REGULATORY 9 3.ENERGY TRADING 13 4.INVESTMENTS AND EXPANSION PROJECTS 14 5.INDEBTEDNESS 16 6.COMPULSORY LOAN 17 7.CASH FLOW 18 8.FINANCIAL PERFORMANCE 19 8.1.Operational and Financial Results 19 8.2.Generation Segment 21 8.3.Transmission Segment 24 8.4.Operating Costs and Expenses - IFRS 25 8.5.Equity Holdings - IFRS 29 8.6.Financial Result - IFRS 30 8.7.Current and Deferred Taxes - IFRS 31 9.OPERATIONAL PERFORMANCE 32 9.1.Generation Segment 32 9.2.Transmission Segment 34 9.3.ESG 35 10.APPENDIX 36 10.1.Appendix 1 - Generation and Transmission Revenue IFRS 36 10.2.Appendix 2 - PMSO Breakdown 37 10.3.Appendix 3 - Financing and Loans Granted (Receivables) 38 10.4.Appendix 4 - Accounting Statements 39 10.5.Appendix 5 - IFRS vs. Regulatory Reconciliation 43 3 AXIA ENERGIA RELEASES 3 rd QUARTER 2025 RESULTS Highlights: Shareholder remuneration: R$ 4.3 billion in dividends, totaling R$ 8.3 billion distributed in fiscal year 2025, reaching approximately R$ 4.01 per Class A and Class B preferred share, and R$ 3.65 per common share and golden share. In September and October, Management delivered significant and consistent results, notably with the signing of the sale of Eletronuclear, the divestment of the stake in EMAE, and the acquisition of Tijoá Energia, accelerating the Company's streamlining process and reducing its risk profile. These developments, together with the strong results achieved in 3Q25, resilient 2026 prices, advances in energy trading, and improvements to our long-term energy model, generated allocable capital under our capital allocation methodology. This, in turn, enabled both the dividend proposal and participation in the transmission auction No. 4/2025. The capital allocation methodology underscores our commitment to financial discipline, shareholder value creation, and sustained investment capacity. Transmission auction No. 4/2025: winning bid of lots 6A, 6B, 7A and 7B, with RAP of R$ 138.74 million and CAPEX projected by ANEEL of R$ 1.63 billion, attesting to AXIA Energia's competitiveness and efficiency. Adjusted Regulatory Net Revenue: R$ 9,969 million in 3Q25, down 4.6% YoY, with higher transmission revenues partially offsetting the lower generation revenue related to the sale of the Amazonas thermal power plants and the additional sale of energy from the Tucuruí HPP, which occurred only in 3Q24. Contribution margin from generation, ACL + MCP: The contribution margin from energy traded in the Free Contracting Environment (ACL) and settled in the Short Term Market (MCP) increased to R$ 86/MWh in 3Q25 from R$ 48/MWh in 3Q24, considering the resources available for allocation in both segments. Energy trading: 813 clients served in 3Q25, up 16% YoY, with 723 in the ACL compared to 614 in 3Q24. Adjusted Regulatory EBITDA excluding the variation in results from the Amazonas thermal plants sold in 2025 : EBITDA reached R$ 6,419 million in 3Q25, up 3.4% YoY, driven by the 9.8% increase in transmission revenues along with the 10.1% drop in PMSO expenses, reflecting the Company's focus on continuously enhancing operational efficiency. These advances more than offset the 2.1% decrease in generation revenue and the 21.9% reduction in equity income, ensuring resilient EBITDA growth. Adjusted IFRS Net Income: Totaled R$ 2,176 million, down 68.0% YoY, due to the recognition of a R$ 303 million regulatory remeasurement in 3Q25, compared to R$ 6,130 million in 3Q24, when the impact of the 2023 Periodic Tariff Review was recognized, with no equivalent effect in 2025. Investments: R$ 2,701 million in 3Q25, up by 32% and 57% compared to 2Q25 and 3Q24, respectively. It is worth noting the 28% YoY increase in investments in reinforcements and improvements in the transmission segment, which reached R$ 1,061 million

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