Energy of Minas Gerais Co DRC

Cia Energetica de Minas Gerais - Cemig reported second quarter 2026 recurring EBITDA of BRL2.5 billion, up 9.3% year over year, while net income rose 15.6% despite higher financial expenses tied to its investment program. Capital expenditures reached BRL1.8 billion in the quarter and BRL3.3 billion in the first half, representing 49% of the planned BRL6.7 billion for the year, with BRL4.6 billion raised in the quarter to fund investments. The company declared interest on capital of BRL631 million, or BRL0.22 per share, and said leverage reached 2.58x, expected to rise until 2027 before declining after the 2028 tariff review. Segment results were mixed: Cemig D EBITDA rose 21% but recurring net income fell 8.9%, Cemig GT EBITDA increased 10.6% with recurring net income down 11.4%, Cemig Generation EBITDA grew 13.3% with recurring net income up 3.6%, Cemig Transmission results were 50% higher, and Cemig Trading posted negative recurring EBITDA of BRL180 million due to a BRL191 million arbitration provision and higher energy purchase prices. Gasmig saw declines in EBITDA and net income on client migration to the free market and a 17% drop in distributed volume.