Companhia Energetica Minas Gerais ( (CIG) ) has released its Q3 earnings. Here is a breakdown of the information Companhia Energetica Minas Gerais presented to its investors.
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Companhia Energetica Minas Gerais (Cemig) is a Brazilian energy company engaged in the generation, transmission, and distribution of electricity, as well as the distribution of natural gas, with a focus on renewable energy sources.
In its latest earnings report for the third quarter of 2025, Cemig reported a significant decrease in net profit compared to the previous year, with a net profit of R$ 796.7 million, down from R$ 3,280.2 million in the third quarter of 2024. The company highlighted operational efficiencies and strategic investments despite challenging market conditions.
Key financial metrics revealed a consolidated EBITDA of R$ 1.50 billion, a decrease from R$ 4.958 billion in the same period last year, primarily due to increased costs in energy trading and distribution. The company also reported a 4.4% year-on-year decrease in total energy distribution, influenced by a shift of clients to distributed generation and the free market. Despite these challenges, Cemig maintained a strong liquidity position, with a low leverage ratio of 1.76x net debt to adjusted EBITDA.
Cemig’s strategic focus on operational efficiency was evident in its ability to keep PMSO expenses below inflation and enhance its energy trading capabilities, becoming the first energy trader to reach 10,000 consumer units. The company also invested R$ 4.7 billion in capital expenditures over the first nine months of 2025, marking a 17% increase from the previous year.
Looking ahead, Cemig’s management remains cautiously optimistic, focusing on maintaining operational resilience and exploring growth opportunities in the renewable energy sector, while navigating the evolving market dynamics and regulatory landscape.