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Alupar Investimento (ALUP11) investor relations material

Alupar Investimento Investor Day 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor Day 2025 summary11 Dec, 2025

Strategic vision and future growth

  • Focus on expanding transmission assets across Brazil and Latin America, with 60 assets and 10,000 km of transmission lines by 2025, including major projects in Colombia, Peru, and Chile.

  • New growth cycle includes R$ 7.9 billion in CAPEX and R$ 1.1 billion in RAP, with anticipated project completions through 2029 and a 13.8% RAP/CAPEX ratio.

  • Recent M&A activity with the acquisition of TBO, marking the first such transaction, and continued diversification of the portfolio with increased foreign currency exposure.

  • Emphasis on integrated solutions, digitalization, and development of new products and services for strategic customers from 2026 onward.

  • Strong presence in university events and talent development, with 20 new interns in 2025 and 29% of hires from internal recruitment.

Financial performance and guidance

  • Consistent growth in net revenue (+7.1%), net income (+8.7%), and EBITDA (+17.1%) for 9M25 compared to 9M24.

  • Contracted RAP grew at a 26% annual average between 2023 and 2025, with a 60% increase per cycle.

  • Portfolio diversification with a projected increase in foreign currency revenue from 4% in 2023 to 18% in 2029.

  • R$ 2 billion in new funding by September 2025, with a focus on reducing debt costs and maintaining a solid capital structure.

  • Dividend payments increased by 116% from 9M23 to 9M25, with a sustainable distribution policy since 2022.

Sector challenges and regulatory environment

  • Sector faces challenges from aging assets, climate change, and the need for network resilience, requiring R$ 153 billion in investments by 2034.

  • Regulatory adjustments focus on distributed generation, electric mobility, data centers, hydrogen plants, and energy storage systems.

  • New rules for curtailment and distributed generation are being developed, with implementation expected in 2026.

  • Subsidies in the electricity sector represent 16.99% of residential tariffs in 2025, with R$ 38.6 billion in total subsidies.

  • The need for additional power supply starts in 2027, reaching 5,500 MW by 2028.

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Q4 202526 Feb, 2026
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