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RD

Rafael Dias

Research Analyst at Banco do Brasil

Distrito Federal, Brazil

Rafael Dias is an Analyst at Banco do Brasil, specializing in financial and equity research with a primary focus on the Brazilian banking and financial services sectors. He is known for his diligent coverage of major Brazilian companies such as Banco do Brasil, Itaú Unibanco, Bradesco, and Santander Brasil, and his work has contributed valuable insights for institutional investors. Since joining Banco do Brasil in his analyst role, Rafael Dias has established a solid reputation for thorough sector analysis and timely investment recommendations, although publicly available performance metrics and rankings remain limited. With a background rooted in finance and industry certifications, he is recognized within the institution for analytical rigor and sector-specific expertise.

Rafael Dias's questions to EBR leadership

Question · Q3 2025

Rafael Dias asked about the expected EBITDA margin and maintenance CapEx for the lots awarded in the latest auction, comparing them to traditional assets, and inquired about anticipated efficiency gains on ANEEL's CapEx estimates for these assets.

Answer

Elio Wolff, VP of Strategy and Business Development at AXIA Energia, confirmed that margins and ROI for the new lots are higher due to competitiveness and supplier commitments. He stated that CapEx optimization has been implemented compared to original ANEEL CapEx, and the company will continue seeking supplier partnerships for further competitiveness.

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