Companhia Energetica de Minas Gerais Earnings Recaps
Q3 2025
Nov 15, 2025
Cemig reported a challenging Q3 2025, with a recurring EBITDA decrease of 16.3% and a net profit drop of 30.2%, primarily due to a reduced client base and increased depreciation from investments.
Key takeaways
- Strong investment program with BRL 4.7 billion deployed in the first nine months, including BRL 3.6 billion in distribution and significant expansions in substations and networks.
- Maintained AAA ratings from Moody's, reflecting the company's financial resilience amid market fluctuations.
- Distribution sector impacted by large clients migrating to the basic network and a reduction in trading margins, leading to a BRL 136 million adverse effect on results.
- EBITDA for the quarter totaled BRL 1.5 billion, with recurring net profit negatively influenced by increased depreciation and higher interest rates.
- Acknowledged as Brazil's top energy company by Veja Negócios, underlining Cemig's commitment to excellence in the sector.