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Felipe Andrade

Vice President and analyst at Itau Unibanco Holding S.A.

Felipe Andrade is a Vice President and analyst at Itau BBA, specializing in the coverage of Brazilian utilities and infrastructure companies such as Copasa. With a career spanning several years in the financial sector, Andrade has developed sector-specific insights and maintains strong relationships through his client-facing research activities. He joined Itau BBA recently, after previous roles at other institutions, accumulating an average tenure of over two years per company. Andrade holds notable professional credentials and is recognized for his analytical rigor, consistently contributing to Itau BBA’s reputation in marketplace research.

Felipe Andrade's questions to EBR leadership

Question · Q2 2025

Felipe Andrade from Itau BBA asked for more details on Eletrobras's Q2 trading strategy, specifically how subsidiaries contributed to ACL margins, and inquired about the recurring CapEx forecast for improvements.

Answer

Italo Freitas, VP of Trade and Energy Solutions, explained that the trading strategy involves a portfolio analysis to find clients that add value, with a focus on each submarket. An executive elaborated that the strategy for the year involved leaving more energy uncontracted for later quarters to capitalize on potential price increases. Elio Wolfe, VP of Strategy and Business Development, highlighted that investments in reinforcements and improvements are growing, projecting over BRL 4.5 billion for 2025, up from around BRL 3.3 billion in 2024.

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