$AXICY

AXIA Energia S.A.

CIK:0001439124|SEC Filings

STATEMENTS OF INCOME - BRL (R$) R$ in Thousands	12 Months Ended
STATEMENTS OF INCOME - BRL (R$) R$ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CONTINUING OPERATIONS
Net operating revenue	R$ 41,281,595	R$ 40,181,552	R$ 37,158,908
Operating expenses	(35,566,369)	(26,702,164)	(26,129,636)
Other revenue and expenditure	459,000	136,540	651,280
Regulatory remeasurements - Transmission contracts	(4,081,630)	6,129,771	(12,144)
OPERATING PROFIT BEFORE FINANCIAL RESULT	2,092,596	19,745,698	11,668,408
FINANCIAL RESULT	(10,926,530)	(11,628,120)	(12,002,121)
PROFIT (LOSS) BEFORE RESULTS OF EQUITY, INVESTMENTS, TAXES AND SOCIAL CONTRIBUTIONS	(8,833,934)	8,117,578	(333,713)
RESULTS OF EQUITY METHOD INVESTMENTS	1,853,984	2,503,205	2,062,090
PROFIT (LOSS) BEFORE TAXES	(6,979,950)	10,620,784	1,396,363
PROFIT (LOSS) BEFORE TAXES			1,728,377
Current income tax and social contribution	(333,039)	(717,909)	(512,503)
Deferred income tax and social contribution	13,872,646	477,879	3,511,001
Net profit from continuing operations	6,559,657	10,380,754	4,726,875
AMOUNT ATTRIBUTED TO OWNERS OF THE COMPANY	6,558,475	10,378,122	4,881,788
AMOUNT ATTRIBUTED TO NON-CONTROLLING INTERESTS	1,182	2,632	(154,913)
DISCONTINUED OPERATIONS
Net loss from discontinued operations	0	0	(332,014)
AMOUNT ATTRIBUTED TO OWNERS OF THE COMPANY	0	0	(332,014)
AMOUNT ATTRIBUTED TO NON-CONTROLLING INTERESTS	0	0	0
NET INCOME FOR THE YEAR	R$ 6,559,657	R$ 10,380,754	R$ 4,394,861
Ordinary Shares and Class C Preferred Shares
EARNINGS PER SHARE
Basics earnings per share (in R$ per share)	R$ 2.29	R$ 3.62	R$ 1.57
Diluted earnings per share (in R$ per share)	2.27	3.58	1.56
EARNINGS PER SHARE - Continuing operations
Basic earnings per share (in R$ per share)	2.29	3.62	1.69
Diluted earnings per share (in R$ per share)	2.27	3.58	1.67
Class A and Class B Preferred shares
EARNINGS PER SHARE
Basics earnings per share (in R$ per share)	2.52	3.98	1.73
Diluted earnings per share (in R$ per share)	2.50	3.94	1.71
EARNINGS PER SHARE - Continuing operations
Basic earnings per share (in R$ per share)	2.52	3.98	1.86
Diluted earnings per share (in R$ per share)	R$ 2.50	R$ 3.94	R$ 1.84

CASH FLOW STATEMENTS - BRL (R$) R$ in Thousands	12 Months Ended
CASH FLOW STATEMENTS - BRL (R$) R$ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
OPERATING ACTIVITIES
Profit (Loss) for the year before income tax and social contribution	R$ (6,979,950)	R$ 10,620,784	R$ 1,396,363
Adjustments to reconcile profit (Loss) to cash generated by operations:
Depreciation and amortization	4,576,919	3,987,775	3,621,342
Net exchange and monetary changes	2,638,556	3,363,144	3,342,161
Results from acquisitions and divestments	7,229,469	0	0
Financial charges	7,712,001	5,865,332	6,095,390
Result of equity method investments	(1,913,039)	(2,503,207)	(2,062,090)
Other income and expenditure	(459,000)	(136,540)	(651,280)
Transmission revenues	(20,115,785)	(19,292,579)	(17,432,037)
Construction cost – transmission	5,065,204	4,286,914	3,291,132
Regulatory remeasurements – transmission contracts	4,081,630	(6,129,771)	12,144
Operating provisions (reversals)	635,737	(180,019)	2,481,054
Fixed and intangible assets write off	(264,277)	157,248	632,441
Results from hedged debt and derivatives	3,335,117	1,940,087	1,521,637
Other	469,521	894,482	637,869
Adjustments to reconcile profit with cash generated by operations	12,992,053	(7,747,134)	1,489,763
(Increases) / decreases in operating assets
Accounts Receivable, net	223,722	1,111,674	(927,096)
Reimbursement right	918,862	752,350	473,496
Others	455,268	673,834	109,683
(Accruals) / decreases in operating assets	1,597,852	2,537,858	(343,917)
Increases / (decreases) in operating liabilities
Suppliers	856,267	(614,240)	(526,425)
Payroll	(358,609)	(775,899)	(813,498)
Regulatory fees	(235,979)	365,508	(280,680)
Others	(995,255)	(605,675)	55,710
Increases / (decreases) in operating liabilities	(733,576)	(1,630,306)	(1,564,893)
Payment of interests	(5,831,609)	(6,650,869)	(5,512,449)
Receipt of allowed annual revenue – RAP	18,714,804	19,248,186	18,287,910
Receipt of dividends and interest on equity	1,549,021	1,506,336	1,329,703
Payment of judicial contingencies	(5,272,014)	(3,776,063)	(2,672,962)
Securities and restricted deposits	(410,453)	195,871	(733,354)
Payment of income tax and social contribution	(708,608)	(1,488,382)	(2,930,778)
Supplementary social security	(407,690)	(430,698)	(510,048)
Net cash provided by operating activities	14,509,830	12,385,583	8,235,338
FINANCING ACTIVITIES
Loans and borrowings obtained and debentures obtained	8,032,447	29,965,839	11,821,045
Payment of loans and financing and debentures - principal	(11,312,024)	(16,009,832)	(13,763,329)
Payment of dividends and interest on equity	(12,186,149)	(1,307,858)	(864,192)
Payment to dissenting shareholders – merge of shares	0	0	(226,057)
Repurchase of shares	(36,728)	(115,099)	(1,967,218)
Payment of obligations with CDE and revitalization of basins - principal	(2,575,565)	(1,974,965)	(1,433,816)
Payment of leases – principal	(50,980)	(757,196)	(765,525)
Others	(962,193)	0	443,961
Net cash from (used in) financing activities	(19,091,192)	9,800,889	(6,755,131)
INVESTING ACTIVITIES
Receipt of loans and financing	447,231	12,675	982,425
Receipt of financial charges	209,698	57,665	172,457
Acquisition of property, plant and equipment	(2,065,524)	(3,099,474)	(3,862,770)
Acquisition of intangible assets	(443,199)	(425,891)	(258,371)
Marketable Securities, net	(1,863,470)	(3,064,434)	3,143,232
Interest Received - Marketable Securities	740,985	529,802	4,066,478
Acquisition of Debentures	0	0	(450,000)
Transmission infrastructure – contractual asset	(4,914,869)	(4,286,914)	(3,269,358)
Acquisition / capital injection in shareholdings, net of cash acquired	(247,695)	(176,643)	(1,439,478)
Receipt from disposal/acquisition of assets	3,301,759	2,449,160	907,004
Acquisition of subsidiary, net of cash acquired	(320,636)	0	0
Other	(417,580)	(656,267)	(116,617)
Net cash used in investing activities of continuing operations	(5,573,300)	(8,660,321)	(124,998)
Net cash provided by investing in activities of discontinued operations	0	0	952,036
Net cash provided by (used in) investing activities	(5,573,300)	(8,660,321)	827,038
Decrease/Increase in cash and cash equivalents	(10,154,662)	13,526,151	2,307,245
Cash and cash equivalents at the beginning of the fiscal year	26,572,522	13,046,371	10,739,126
Cash and cash equivalents at the end of the year	16,417,860	26,572,522	13,046,371
Increase in cash and cash equivalents from discontinued operations	R$ 0	R$ 0	R$ 952,036

BALANCE SHEETS - BRL (R$) R$ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT
Cash and cash equivalents	R$ 16,417,860	R$ 26,572,522
Restricted cash	660,259	508,734
Marketable securities	11,133,842	8,951,838
Accounts Receivable, net	5,575,589	5,911,477
Contractual transmission assets	10,693,181	10,539,570
Taxes and contributions	2,766,765	2,831,414
Loans, financing and debentures	10,625	475,459
Reimbursement rights	752,496	893,254
Dividends and interest receivable	470,142	721,683
Derivative financial instruments	64,334	692,660
Others	2,473,062	1,850,389
Total current assets excluding assets held for sale	51,018,155	59,949,000
Assets held for sale	1,072,431	4,502,102
TOTAL CURRENT ASSETS	52,090,586	64,451,102
NON-CURRENT
Restricted cash	3,436,804	3,170,749
Marketable Securities	722,673	433,341
Accounts Receivable, net	522,859	602,411
Contractual transmission assets	53,567,662	56,848,086
Taxes and contributions	3,178,769	2,715,445
Deferred Income tax and social contribution	17,499,833	5,673,011
Loans, financing and debentures	180,568	163,140
Reimbursement rights	2,176	720,081
Judicial deposits	5,762,270	5,190,344
Derivative financial instruments	1,072,386	1,544,095
Others	846,940	1,645,570
Total long term assets excluding investments, fixed assets and intangible assets	86,792,940	78,706,273
INVESTMENTS
Equity method investments	23,322,816	30,727,405
Measured at fair value	1,175,539	861,234
Other investments	18,830	97,987
INVESTMENTS	24,517,185	31,686,626
PROPERTY, PLANT AND EQUIPMENT	39,659,177	36,854,056
INTANGIBLE ASSETS	76,625,705	78,173,273
TOTAL NON CURRENT ASSETS	227,595,007	225,420,228
TOTAL ASSETS	279,685,593	289,871,330
CURRENT
Suppliers	3,916,279	2,756,329
Regulatory fees	886,565	820,067
Provision for onerous contracts	113,944	62,711
Leases	72,981	26,861
Payroll	1,060,856	1,065,114
Post-employment benefit	303,832	289,840
Taxes and contributions	1,021,353	1,146,169
Loans, financing and debentures	13,204,167	12,809,872
Obligations of Law No. 14,182/2021	3,738,498	2,916,199
RGR returns	695,705	492,276
Judicial settlements	1,073,452	1,105,534
Provisions for Litigation	666,092	1,791,088
Compulsory loan	1,406,460	1,326,925
Shareholder remuneration	136,124	2,490,668
Derivative financial instruments	1,651,632	1,175,652
Others	1,030,460	1,160,611
Total current liabilities excluding liabilities associated to assets held for sale	30,978,400	31,435,916
Liabilities associated with assets held for sale	0	194,454
TOTAL CURRENT LIABILITIES	30,978,400	31,630,370
NON-CURRENT
Regulatory fees	688,574	942,348
Provision for onerous contracts	282,371	621,725
Leases	415,625	155,722
Concessions payable - use of public property	589,412	543,867
Post-employment benefit	3,276,459	3,416,381
Taxes and contributions	198,782	372,488
Deferred income tax and social contribution	2,421,481	4,287,021
Loans, financing and debentures	61,091,597	62,810,702
Obligations of Law No. 14,182/2021	40,028,165	39,105,924
RGR returns	0	439,974
Advances for future capital increase	124,543	108,938
Provisions for Litigation	19,242,041	21,583,395
Derivative financial instruments	151,487	2,283
Others	1,694,999	1,850,416
TOTAL NON-CURRENT LIABILITIES	130,205,536	136,241,184
EQUITY
Capital stock	100,135,201	70,099,826
Transactions costs on issuance of shares	(108,186)	(108,186)
Capital reserves and Authorized Equity Instruments granted	14,689,872	13,910,768
Treasury shares	(3,034,806)	(2,223,011)
Profit reserves	11,818,426	45,440,237
Accumulated other comprehensive income	(5,070,370)	(5,256,409)
Equity attributable to owners of the Company	118,430,137	121,863,225
Equity attributable to non-controlling interests	71,520	136,551
TOTAL SHAREHOLDERS EQUITY	118,501,657	121,999,776
TOTAL LIABILITIES AND EQUITY	R$ 279,685,593	R$ 289,871,330