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Companhia Energética de Minas Gerais (CMIG4) investor relations material
Companhia Energética de Minas Gerais Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Adjusted EBITDA reached R$2.2 billion in 2Q25, up 15.4% year-over-year, reflecting resilient operational performance.
Adjusted net profit rose 16.6% to R$1.3 billion compared to 2Q24.
Investments in 1H25 totaled R$2.8 billion, up 12.6% year-over-year, focused on distribution, grid expansion, and modernization.
Inaugurated nine new substations and launched a major solar plant (85 MW) as part of the energy transition strategy.
Tariff adjustment effective May 28, 2025, resulted in an average increase of 7.78% for consumers.
Financial highlights
Adjusted EBITDA: R$2.2 billion (+15.4% YoY); Adjusted net profit: R$1.3 billion (+16.6% YoY).
Reimbursement of tariff subsidies contributed R$375 million to results.
Net debt/adjusted EBITDA at 1.6x as of June 2025; cash and equivalents at R$3.04 billion.
Dividend yield for preferred shares reached 17.72% at the end of 2Q25.
Operational costs rose 2.49%, below inflation (5.35%), with personnel costs down and outsourced services up.
Outlook and guidance
Planned investment of R$6.35 billion for 2025, the largest in company history.
Strategic plan targets R$59 billion in investments from 2019 to 2029, mainly in Minas Gerais and distribution.
Focus on modernization, digitalization, and ESG leadership in the Brazilian electricity sector.
Ongoing regulatory discussions may impact future concession renewals and capital structure.
Interest on equity of R$596.7 million declared, to be paid in 2026.
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