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Companhia Energética de Minas Gerais - CEMIG (CMIG4) investor relations material
Companhia Energética de Minas Gerais - CEMIG Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
New CEO Alexandre Ramos Peixoto appointed, continuing financial recovery, infrastructure expansion, and strategic investment planning through 2030.
Net operating revenue rose 6.3% YoY to R$10.46 billion, driven by tariff adjustments and higher energy prices.
EBITDA reached R$1.79 billion, with net profit of R$979 million for Q1 2026; distribution segment saw a 26.7% YoY increase in adjusted EBITDA.
Capex reached R$1.48 billion (+22.1% YoY), focused on distribution and regulated businesses.
Shareholder remuneration totaled R$658 million; small hydro acquisitions expanded the portfolio.
Financial highlights
Net operating revenue: R$10.46 billion (+6.3% YoY).
EBITDA: R$1.79 billion; net profit: R$979 million for Q1 2026, in line with prior year.
Operating cash flow reached R$1.5 billion, with significant investments and negative cash delta due to high capex.
Leverage at 2.45x net debt/recurring EBITDA; net debt at R$17.82 billion; average debt maturity extended to 6.6 years.
Cost of debt at 89% of CDI, with recent funding of BRL 2.6 billion for distribution.
Outlook and guidance
Largest investment program in company history underway, with R$43.7 billion planned for 2026-2030.
2026 capex plan of R$6.72 billion, focusing on modernization and reliability.
Tariff review in 2028 anticipated to recognize asset base growth and support EBITDA rebuilding.
Leverage projected to rise until 2028, then decline post-tariff review.
Optimism regarding continued value generation and AAA credit ratings.
- Investing over R$44 billion by 2030 to expand clean, reliable energy and sustain high dividends.CMIG4
Investor presentation7 Apr 2026 - 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.CMIG4
Q2 20243 Feb 2026 - Record CapEx, digitalization, and energy transition drive growth and market leadership.CMIG4
Investor Day 20241 Feb 2026 - Net profit up 165% to R$3.28bn, with record EBITDA, AAA rating, and strong investments.CMIG4
Q3 202413 Jan 2026 - Record annual EBITDA and net profit, with strong investments and top sustainability performance.CMIG4
Q4 202426 Dec 2025 - Adjusted EBITDA and net profit rose over 15% year-over-year, driven by investments.CMIG4
Q2 202523 Nov 2025 - EBITDA and net profit fell, but investments and credit ratings hit record highs.CMIG4
Q1 202521 Nov 2025 - EBITDA and net profit fell, but investments, revenue, and credit ratings hit record highs.CMIG4
Q3 202514 Nov 2025
Next Companhia Energética de Minas Gerais - CEMIG earnings date
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