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Companhia Energética de Minas Gerais - CEMIG
Companhia Energética de Minas Gerais - CEMIG (CMIG4) investor relations material
Companhia Energética de Minas Gerais - CEMIG Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor presentation summary7 Apr, 2026
Strategic positioning and business overview
Operates Brazil's largest integrated electric utility, serving over 9.5 million customers in 25 states and the Federal District, with a focus on Minas Gerais.
Maintains a verticalized platform across distribution, generation, trading, and transmission, with a balanced and diversified portfolio.
Holds a local AAA credit rating, supported by solid cash flow, low leverage, and disciplined financial management.
100% of energy comes from clean and renewable sources, with a strong ESG commitment and presence in major sustainability indices.
State-owned enterprise with 62.35% free float and significant stakes in Taesa and Gasmig.
Financial performance and capital structure
EBITDA margin ranged from 19.4% to 28.3% between 2018 and 2025, with net profit margin peaking at 16%.
Net debt stood at R$16.8 billion with an average maturity of 6.9 years and a net debt/EBITDA ratio below 1.3x.
Maintains high dividend yields, with a minimum 50% net income payout policy and strong total return on equity.
Investment program from 2019 to 2025 totaled R$25.7 billion, with R$6.6 billion invested in 2025 alone.
Planned investments for 2026–2030 exceed R$44 billion, focusing on modernization and expansion in Minas Gerais.
Operational highlights by segment
Distribution: Largest concession in Brazil, serving 774 municipalities, with over 588,000 km of grid and >9.5 million customers.
Generation: 4.8 GW installed capacity across 71 plants (hydro, wind, solar), with ongoing concession renewals and modernization.
Transmission: 5,060 km of lines, 42 substations, and a 21.68% stake in Taesa, with R$3.5 billion planned investments (2026–2030).
Trading: Leading power trader with 10,360 customer units, focusing on margin expansion and digital channels.
Natural Gas: Concession until 2053, serving 47 municipalities and over 108,000 customers, with R$1.9 billion investment planned (2026–2030).
Smart meter rollout impact on operational efficiency?
Strategy for generation concession renewals?
Optimize capital structure for future growth?
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Latest events from Companhia Energética de Minas Gerais - CEMIG
- EBITDA reached BRL 7.3B, investments hit BRL 6.6B, and dividend yield was 14.9% in 2025.CMIG4
Q4 202520 Mar 2026 - Net profit surged 35.7% to R$1.69 billion, driven by robust operations and non-recurring gains.CMIG4Q2 20243 Feb 2026
- Record CapEx, digitalization, and energy transition drive growth and market leadership.CMIG4Investor Day 20241 Feb 2026
- Net profit up 165% to R$3.28bn, with record EBITDA, AAA rating, and strong investments.CMIG4Q3 202413 Jan 2026
- Record annual EBITDA and net profit, with strong investments and top sustainability performance.CMIG4Q4 202426 Dec 2025
- Adjusted EBITDA and net profit rose over 15% year-over-year, driven by investments.CMIG4Q2 202523 Nov 2025
- EBITDA and net profit fell, but investments and credit ratings hit record highs.CMIG4Q1 202521 Nov 2025
- EBITDA and net profit fell, but investments, revenue, and credit ratings hit record highs.CMIG4Q3 202514 Nov 2025
- R$35.6 billion investment plan drives growth in renewables, distribution, and operational excellence.CMIG4Investor Presentation8 Jul 2025
Next Companhia Energética de Minas Gerais - CEMIG earnings date
Q1 20268 May, 2026
Companhia Energética de Minas Gerais - CEMIG
Next Companhia Energética de Minas Gerais - CEMIG earnings date
Q1 20268 May, 2026
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