Companhia Energética de Minas Gerais S.A., through its subsidiaries, engages in the generation, transformation, transmission, distribution, and sale of electric energy primarily in Minas Gerais, Brazil. As of December 31, 2012, the company generated electricity at 59 hydroelectric plants, 3 thermoelectric plants, and 3 wind farms; had a total installed capacity of 7,038 megawatts; owned and operated 13,670 miles of transmission lines; and owned and operated 308,466 miles of distribution lines, through which it supplied electricity to approximately 7.5 million end-consumers. It also acquires, transports, distributes, and sells natural gas; engages in the exploration and production of crude oi...
Avenida Barbacena, 1200
Belo Horizonte, MG 30190-131
Founded in 1952
Companhia Energética de Minas Gerais S.A. Presents at Bradesco Brazil Investment Forum, Apr-07-2014
Apr 5 14
Companhia Energética de Minas Gerais S.A. Presents at Bradesco Brazil Investment Forum, Apr-07-2014 . Venue: Grand Hyatt, Sao Paulo, São Paulo, Brazil. Speakers: Luiz Fernando Rolla, Chief Officer of Finance, Investor Relations & Control of Holdings and Member of Executive Board, Robson Laranjo, Head of Corporate Governance.
Cemig Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Operating Results for the Year Ended December 31, 2013
Mar 24 14
Cemig announced consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the year, the company announced revenue of BRL 14,627,280,000 compared to BRL 14,137,358,000 for the same period a year ago. Income before financial revenue (expenses) and taxes was BRL 4,362,471,000 compared to BRL 3,474,721,000 for the same period a year ago. Pretax income was BRL 4,053,996,000 compared to BRL 5,104,266,000 for the same period a year ago. Net income for the period was BRL 3,103,855,000 compared to BRL 4,271,685,000 for the same period a year ago. The fall in net income was attributed mainly to the extraordinary effect on the company's 2012 net profit regarding the earlier assignment of the outstanding balance on the Results Compensation Account (CRC) with the company's main shareholder, the government of the southeastern Minas Gerais state. EBITDA was BRL 5,186,139,000 compared to BRL 4,237,889,000 for the same period a year ago. Ebitda adjusted for regulatory assets and liabilities was BRL 4,934,228,000 compared to BRL 5,147,940,000 for the same period a year ago. Ebitda Adjusted for non-recurring items was BRL 4,962,127,000 compared to BRL 4,343,100,000 for the same period a year ago. Net income adjusted for non-recurring items was BRL 2,954,792,000 compared to BRL 2,693,614,000 for the same period a year ago. Net income adjusted for regulatory assets and liabilities was BRL 2,967,066,000 compared to BRL 4,875,043,000 for the same period a year ago. Cash generated by operations was BRL 3.515 billion compared to BRL 2.428 billion for the same period a year ago. EBIT was BRL 3.395 billion compared to BRL 2.609 billion for the same period a year ago. Investments in fixed and intangible assets were BRL 0.938 billion compared to BRL 1.609 billion for the same period a year ago.
For the quarter, the company announced net income was BRL 892.9 million, while Regulatory Ebitda was BRL 1.213 billion, mainly impacted by the incomes of acquired companies, operational efficiency and control of costs. Net revenue was BRL 309.2 million, up 26.4% from fourth quarter of fiscal 2012. In the quarter Ebitda was BRL 208.2 million.
The company announced operating results for the year ended December 31, 2013. The company closed 2013 with an installed power capacity of 7,158 MW, and electricity generation of 4,375 average MW (MWa). The power distribution network of Cemig's unit Cemig-D reached 508,000 km (315,656 miles). The company sold electricity of (excluding CCEE) 61,521 GWh compared to 59,584 GWh for the same period a year ago.