Impacto da conta-covid nos indicadores financeiros das distribuidoras de energia elétrica listadas na B3

Abstract

As of March 2020, several changes were caused by the new coronavirus pandemic. In this context, Decree No. 10,350, of 05/18/2020 authorized the creation of Conta-Covid, as a way to maintain the flow of payments and mitigate the impacts caused by the pandemic in the Brazilian electricity distribution sector. Thus, the objective of this study is to identify the impact of Conta-Covid on the economic and financial indicators of the electricity distributors listed in B3. This is a descriptive study, with a quantitative approach and a documentary research procedure, based on the quarterly financial statements for the year 2020 of 17 electricity distributors listed in B3. Analysis procedures include descriptive statistics and the non-parametric Wilcoxon test. The main contribution of the study lies in demonstrating the importance of financial indicators as a tool to measure and evaluate the evolution in the electricity distribution sector, helping in decision-making, for current and potential investors and for the society that consumes the services. The results showed that the Conta-Covid did not have a statistically significant impact on current liquidity, indebtedness indicators and profitability indicators, except with regard to asset turnover. This can be explained because Conta-Covid's resources did not necessarily and directly increase the payment capacity of distributors, nor did it dispense with raising third-party funds or caused an increase in revenues and, consequently, in profits.