Companhia Energetica de Minas Gerais SA
CIG.C
ISIN US2044096012 / Valor 3199566
Companhia Energetica de Minas Gerais SA
UMushroom community rating:
About company
Companhia Energetica de Minas Gerais SA, also known as Cemig, is the largest energy trader in Brazil, with a strong focus on electricity generation, transmission, and distribution. The company operates a transmission grid of almost 5,000 km, making it one of the largest power transmission groups in the country. Cemig has stakes in numerous generation projects, including hydroelectric plants, wind farms, and a photovoltaic plant, with a significant presence in 10 Brazilian states. Cemig Distribution S/A is one of the largest electricity distributors in Brazil, serving approximately 96% of the State of Minas Gerais and providing high-quality service to low-income consumers. Additionally, "Gasmig" is the exclusive distributor of piped natural gas in the State of Minas Gerais, serving various segments including industrial, residential, and commercial. Founded in 1952, Cemig Group is recognized for its size, technical competence, and extensive presence across Brazil.
Summarized from source with an LLMView SourceSector: Non-Energy MaterialsLatest Results (07.08.2024):
Net Profit
Companhia Energetica de Minas Gerais SA reported a consolidated net profit of R$ 1.15 billion for the first quarter of 2024, reflecting a 9.1% decrease compared to the same period in the previous year.
EBITDA
The company's EBITDA for 1Q24 stood at R$ 2.01 billion, while the adjusted EBITDA was R$ 1.99 billion, showing a slight decline of 3.9% year-over-year from R$ 2.07 billion in 1Q23.
Revenue
Companhia Energetica de Minas Gerais SA's revenue from energy trading reached R$ 279.8 million in the first quarter of 2024, with a margin higher than the sector average due to a differentiated strategy and effective market forecasting.
Investments
In 1Q24, the company invested R$ 1.02 billion, which is 36% higher than the investments made in the first quarter of the previous year. This includes R$ 881 million allocated to Cemig D (Distribution).
Debt Management
Companhia Energetica de Minas Gerais SA maintained a low leverage ratio with net debt to adjusted EBITDA at 0.83, ensuring financial sustainability for its investment program. Additionally, Moody's increased the company's rating to AA+.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
M
Market cap (USD)
78
Daily traded volume (Shares)
2.39 / 2.3257
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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