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Companhia Energética de Minas Gerais (CMIG4) investor relations material
Companhia Energética de Minas Gerais Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Recurring EBITDA reached R$1.5 billion in 3Q25, down 16.3% year-over-year, reflecting operational resilience amid market and hydrological challenges.
Net profit for 3Q25 was R$797 million, down 75.7% year-over-year; adjusted net profit was R$780 million, down 30.2% from 3Q24.
Moody’s upgraded the credit rating to AAA in September 2025; two agencies now rate at the top Brazilian scale.
Investments in 9M25 totaled R$4.7 billion, a 17% increase over 9M24, marking the highest investment in company history.
Recognized as the best energy company in Brazil and awarded for transparency and ESG practices.
Financial highlights
Net revenue reached R$10.62 billion (+4.6% YoY); gross profit was R$1.6 billion (-3.5% YoY).
Recurring EBITDA fell 16.3% year-over-year to R$1.48 billion in 3Q25.
Recurring net profit dropped 30.2% to R$780 million in 3Q25 compared to 3Q24.
IFRS EBITDA was R$1.5 billion and IFRS net profit was R$797 million in 3Q25.
Capex in 9M25 reached R$4.73 billion (+17% YoY), with R$1.98 billion invested in 3Q25.
Outlook and guidance
Planned investment of R$39.2 billion for 2025-2029, with R$6.35 billion in 2025, focusing on modernization, reliability, and expansion of renewable generation and smart grid infrastructure.
Strategic focus on client satisfaction, value creation, innovation, ESG, and safety.
Continued strong liquidity and prudent financial management, with low leverage (net debt/adj. EBITDA at 1.76x).
Expected tariff review revenue from BRL 4.7B invest
Mitigate large client migration revenue impact
Trading strategy to reduce GSF exposure
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Next Companhia Energética de Minas Gerais earnings date
Q4 202525 Mar, 2026
Next Companhia Energética de Minas Gerais earnings date
Q4 202525 Mar, 2026
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Frequently asked questions
Companhia Energética de Minas Gerais, also known as CEMIG, is a Brazilian utility company engaged in the generation, transmission, and distribution of electricity. It serves residential, commercial, and industrial customers across various states in Brazil and operates a large portfolio of hydroelectric and thermoelectric plants. The company is also involved in energy trading and infrastructure services. Companhia Energética de Minas Gerais is headquartered in Belo Horizonte, Brazil, and its shares are listed on the B3.
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