Companhia Energetica De Minas Gerais Sa · BMFBOVESPA:CMIG3
Companhia Energetica De Minas Gerais Sa — Energy Co of Minas Gerais — Q1 2024 Earnings Presentation
139 slides from Companhia Energetica De Minas Gerais Sa's earnings presentation, Jul 18, 2024
Slide 1: Notice to Shareholders – Resolutions of the AESM – Dividends and Bonus
Approval Date Date “with rights” Date “ex-rights” Per common/preferred share (R$) Total Amount R$ thousand 1- Notice to Shareholders dated April 29, 2024 – Resolutions of the AESM - Dividends and Bonus COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY-HELD COMPANY Corporate Taxpayer’s ID (CNPJ):
Slide 2: Notice to Shareholders – Dividends and Bonus (continued)
of 30.00000002726% consisted of new shares of the type of the previous ones, at a nominal value of R$5.00; b) All shareholders of record on 04/29/2024, relating to shares traded on B3 S.A. – Brasil, Bolsa, Balcão (“B3”), will be entitled to the aforementioned benefit. The shares will be traded “ex-r
Slide 3: Notice to the Market – Filing of Form 20-F
2 - Notice to the Market dated April 30, 2024 – Filing of Form 20-F COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY HELD COMPANY Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64 Company Registry (NIRE): 31300040127 NOTICE TO THE MARKET Form 20-F A COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG
Slide 4: Earnings webcast
7h TransTGgurg. yVves with-ouF eres = >> >> Ae! )'\\ B>>>> 1Q°¢ EARNI an an @ Video conference — webcast GUmeex Jemiss mics (ciG, ciG.c CS May 14 (Tuesday), 10 am SF yi One: NYSE NYSL . (Brasilia time) IBRX100B3 ‘IEE B3 SE B3 1co2 B3 Link —- CEMIG - WEBCAST
Slide 5: 1Q24 Highlights
1924) HIGHLIGHTS rarincs G9 ap Gp 4 Ranking Leader in the Brazilian electricity sector @ Solid and consistent results (R$ mn) | Consolidated Ebitda | Consolidated net profit amallt =a 175% I) 9.1% 2,162 2011 2,073 1,991 1398 4453 1270 4354 Ee 88 1M 102310028 10031024 19231028 1S Reauning TRS Reaaing
Slide 6: 1Q24 Highlights
1Q24 ) HIGHLIGHTS Robust cash generation Adjusted Ebitda: R$ 1.99 billion EBITDA: R& 2.01 billion vs. R$ 2.07 bn in 1023 (-3.9% YoY) Adjusted net profit: R$ 1.15 billion (-9.1% YoY) Cemig D (Distribution): + Outperforms regulatory levels in Costs, Ebitda and Energy losses + DEC (outage duration indi
Slide 7: Slide 7
Slide 8: Contents
CONTENTS 1Q24 HIGHLIGHTS CONSOLIDATED RESULTS FOR THE QUARTER Profit and loss accounts RESULTS BY BUSINESS SEGMENT CONSOLIDATED ELECTRICITY MARKET PERFORMANCE BY COMPANY Cemig D Billed electricity market Sources and uses of electricity – MWh Client base Performance by sector The Tariff Adjustment an
Slide 9: q omic
q omic
Slide 10: Slide 10
Slide 11: Consolidated results for the quarter
1Q24 1Q23 1Q24 1Q23 CONSOLIDATED RESU LTS FOR THE QUARTER Consolidated results – 1Q24 Change % Ebitda by company, IFRS (R$ ’000) Cemig D (IFRS) 746,490 775,088 –3.7% Cemig GT (IFRS) 800,893 818,897 –2.2% Gasmig (IFRS) 217,642 257,995 –15.6% Consolidated (IFRS) 2,011,234 2,161,971 –7.0% Change % Ebit
Slide 12: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 13: q omic
q omic
Slide 14: Slide 14
Slide 15: Profit and loss accounts
1Q24 1Q23 Profit and loss accounts Change, % PROFIT AND LOSS ACCOUNTS (R$ ’000) NET REVENUE 9,057,867 8,646,937 4.8% COSTS 5,785,012 5,462,332 5.9% Cost of electricity 3,510,632 3,444,067 1.9% Gas purchased for resale 510,177 614,803 –17.0% Charges for use of national grid 843,222 700,181 20.4% Infr
Slide 16: q omic
q omic
Slide 17: Slide 17
Slide 18: Results by business segment
RESULTS BY BU SINESS SEGMENT INFORMATION BY SEGMENT, 1Q24 Electricity Gas Equity interests Eliminations TOTAL Generation Transmission Trading Distribution NET REVENUE 714,883 285,785 1,750,127 5,970,234 792,017 7,920 -463,099 9,057,867 COST OF ELECTRICITY AND GAS –78,944 –106 –1,454,588 –3,274,737 –
Slide 19: q omic
q omic
Slide 20: Slide 20
Slide 21: Consolidated electricity market
CONSOLIDATED E LECTRICITY MARKET Cemig’s electricity market In March 2024 the Cemig Group billed approximately 9.25 million clients – an addition of approximately 174,000 clients, or a 1.9% increase in its consumer base from March 2023. • 9,247,020 of these consumers are final consumers (including C
Slide 22: Energy sales by segment
_ Energy sales by segment, % 1Q24 1Q23 tt Residential Industrial = Commerce and Services Rural
Slide 23: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 24: q omic
q omic
Slide 25: Slide 25
Slide 26: Performance by company – Cemig D billed electricity market
PERFORMANC E BY COMPANY Ce mig D Billed el ectricity market 1Q24 1Q23 Change % Captive clients + Transmission service (MWh) Residential 3,250,170 2,984,825 8.9% Industrial 5,574,606 5,457,071 2.2% Captive market 275.264 334.141 –17.6% Transport of energy 5,299,342 5,122,930 3.4% Commercial, Services
Slide 27: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 28: q omic
q omic
Slide 29: Sources and uses of electricity – MWh; client base
Sources and uses of e lectricity – MWh 1Q24 1Q23 Change % Metered market – MWh Transported for distributors 75,697 64,614 17.2% Transported for Free Clients 6,033,163 5,768,677 4.6% Own load + Distributed generation 8,743,130 8,277,750 5.6% Consumption by captive market 5,693,805 5,682,138 0.2% Dist
Slide 30: q omic
q omic
Slide 31: Commercial and services, rural consumption
Commercial and services : Energy distributed to these consumers was 13.8% of the total distributed by Cemig D in 1Q24, and by volume 2.8% more than in 1Q23 . This increase is the result of a 3.4% reduction in energy billed to captive clients, and an increase of 16.5% in the volume of energy transpor
Slide 32: q omic
q omic
Slide 33: Quality indicators – DEC and FEC
Quality indica tors – DEC and FEC In 2023 the State of Minas Gerais was impacted by an increase in extreme atmospheric events, which caused a slight increase in electricity outages. Given this challenging scenario, Cemig has implemented several initiatives to reduce the number and duration of outage
Slide 34: Annual limit and DEC
10.51 10.31 10.08 10.61 9.98 — 9.64 9.71 9.71 2019 2020 2021 2022 2023 1Q24 Annual Limit me DEC
Slide 35: Combating default
Comba ting default Maintaining a high level of collection actions, the Company kept its Receivables Recovery Index above 99% in March 2024. New payment channels, and online negotiation, made available in recent quarters (PIX instant payments, automatic bank debits, payments by card and app, etc.) ha
Slide 36: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 37: q omic
q omic
Slide 38: Energy losses
Energy losses Energy losses were compliant with the regulatory level in the 12 months to end March 2024, at 10.59% (the regulatory level is 10.69%). Highlights of our combat of energy losses in 1Q24 include: approximately 75,000 inspections; replacement of more than 149,000 obsolete meters; exchange
Slide 39: Energy losses, 2019-1Q24
_ Energy losses, 2019-1Q24 6,613 6,549 6,172 6,239 6,135 2019 2020 2021 2022 2023 1Q24 Actual Actual Regulatory losses,
Slide 40: Energy losses as percentages of total transmitted
_ Energy losses as percentages of total transmitted 12.71 12.57 11.23 11.11 10.71 10.59 2019 2020 2021 2022 2023 1Q24
Slide 41: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 42: q omic
q omic
Slide 43: Cemig GT and the Cemig Holding Company
Cemig GT and the Cemig Holding Company Electr icity market The total volume of electricity sold by Cemig GT and by the Cemig holding company (‘ Cemig H ’), excluding sales on the wholesale power exchange (CCEE) was 4.0% higher than in 1Q23. Cemig GT billed 5,182 GWh (including quota sales) in 1Q24,
Slide 44: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 45: q omic
q omic
Slide 46: Gasmig
Gas mig Gasmig is the exclusive distributor of piped natural gas for the whole of the state of Minas Gerais. It supplies industrial, commercial and residential users, compressed natural gas and vehicle natural gas, and gas as fuel for thermoelectric generation plants. Its concession expires in Janua
Slide 47: Slide 47
Slide 48: Consolidated operational revenue
Financi al results Consolidated operational revenue 1Q24 1Q23 Change % R$ ’000 Revenue from supply of electricity 8,019,144 7,095,344 13.0% Revenue from use of distribution systems (TUSD charge) 1,169,299 980,398 19.3% CVA and Other financial components in tariff adjustments 75,675 20,840 263.1% Rei
Slide 49: q omic
q omic
Slide 50: Revenue from supply of electricity
1Q24 1Q23 Revenue from supply of electricity Change, % MWh R$ ’000 Average price billed – R$/MWh (1) MWh R$ ’000 Average price billed – R$/MWh (1) MWh R$ ’000 Residential 3,250,170 3,126,496 961.95 2,984,825 2,394,792 802.32 8.9% 30.6% Industrial 4,130,114 1,298,596 314.42 4,307,674 1,439,741 334.23
Slide 51: Energy sold to final consumers
Energy sold to final consumers Gross revenue from energy sold to final consumers in 1Q24 was R$ 7,017.20 million, compared to R$ 6,189.60 million in 1Q24, an increase of 13.4% YoY, in spite of volume being only 3.2% higher. The increase mainly reflects the re-inclusion, in the basis for calculation
Slide 52: q omic
q omic
Slide 53: Transmission
Transmission 1Q24 1Q23 Change % TRANSMISSION REVENUE (R$ ’000) Operation and maintenance 66,562 87,740 –24.1% Infrastructure construction, strengthening and enhancement 63,394 39,403 60.9% Financial remuneration of transmission contractual assets 151,392 177,254 –14.6% Total 281,348 304,397 –7.6% Tr
Slide 54: q omic
q omic
Slide 55: Operational costs and expenses
Operational costs and expenses 1Q24 1Q23 Change % R$ ’000 Electricity bought for resale 3,510,632 3,444,067 1.9% Charges for use of national grid 843,222 700,181 20.4% Gas purchased for resale 510,177 614,803 –17.0% Construction cost 920,981 703,281 31.0% People 324,058 335,197 –3.3% Employees’ and
Slide 56: q omic
q omic
Slide 57: Costs of energy acquired in the Free Market
▪ The costs of energy acquired in the Free Market (the Company’s highest cost of purchased energy), were R$ 1,239.5 million, R$ 13.9 million (1.1%) higher than in 1Q23. ▪ The cost of Proinfa supply was 11.6% (R$ 14.8 million) lower, mainly due to winds throughout Brazil’s Northeast being far lower t
Slide 58: q omic
q omic
Slide 59: Impairments
Impairments Provisions for impairment in 1Q24 totaled R$ 23.0 million: R$ 17.7 million for plants classified as held for sale, and R$ 5.3 million for a receivable from a client disputing amounts owed. In 1Q23 an impairment of R$ 46.1 million had been posted for the plants of Cemig GT which were in t
Slide 60: Cost of personnel
_ Cost of personnel R$ million, excluding voluntary severance agreements 339 335 301 349 324
Slide 61: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 62: q omic
q omic
Slide 63: Consolidated Ebitda (IFRS and Adjusted)
CONSOLIDATED EBITDA (IFRS and Adjusted) Ebitda is a non-accounting measure prepared by the Company, reconciled with its consolidated financial statements in accordance with the specifications in CVM Circular SNC/SEP 01/2007 and CVM Resolution 156 of June 23, 2022. It comprises: Net profit adjusted f
Slide 64: q omic
q omic
Slide 65: Ebitda of Cemig D
1Q24 1Q23 Ebitda of Cemig D Change % Cemig D Ebitda – R$ ’000 Net profit for the period 322,338 369,530 –12.8% Income tax and Social Contribution tax 99,173 118,970 –16.6% Net finance revenue (expenses) 108,780 92,348 17.8% Amortization 216,199 194,240 11.3% EBITDA 746,490 775,088 –3.7% Post-employm
Slide 66: q omic
q omic
Slide 67: Cemig GT – Ebitda
Cem ig GT – Ebitda Cemig GT 1Q24 Ebitda R$ ’000 Generation Transmission Trading Equity interests Total Profit (loss) for the period 372,261 129,598 50145 -58,198 493,806 Income tax and Social Contribution tax 73,033 34,221 22,130 25,359 154,743 Finance income (expenses) 27,802 16,693 – 7,449 31,706
Slide 68: q omic
q omic
Slide 69: Finance income and expenses
Finance incom e and expenses 1Q24 1Q23 Change % (R$ ’000) Finance income 218,245 329,784 –33.8% Finance expenses –399,231 –435,698 –8.4% Finance income (expenses) –180,986 –105,914 70.9% For 1Q24 Cemig reports Net financial expenses of R$ 181.0 million, compared to Net financial expenses of R$ 105.9
Slide 70: q omic
q omic
Slide 71: Net profit
Net profit For 1Q24, Cemig once again reports quarter Net profit of more than R$ 1 billion: R$ 1.153 billion in 1Q24, compared to R$ 1.398 billion in 1Q23. Adjusted net profit in 1Q24 is R$ 1,154 million, compared to R$ 1,270 billion in 1Q23. Main factors in this result were: ▪ (i) Strong results fr
Slide 72: q omic
q omic
Slide 73: Investments
Inves tments The total invested in 2023 was R$ 1.02 billion , 36.0% more than in 1Q23. The highlight was Cemig D with R$ 881 million invested in 1Q24 . Underlining our mission to grow in renewable generation, works are 92% complete on the Boa Esperança and Jusante photovoltaic solar generation plant
Slide 74: Capex
Capex ¢ Investments executed Investments realized in 1Q24: R$ 1,019 million Execution of Cemig’s LARGEST EVER investment program ensures MODERNIZATION and RELIABILITY of Cemig’s electricity system 2024 — Planned Investment of R$ 6,216 million 506 372 \ = Distribution 7) Generation 573 ™ Transmission
Slide 75: Debt
Deb t CONSOLIDATED – R$ ’000 Mar. 2024 2023 Change, % Gross debt 11,625,874 9,831,139 18.3% Cash and equivalents + Securities 45,53,488 2,311,464 97.0% Net debt 7,072,386 7,519,675 -5.9% Debt in foreign currency 1,968,173 1,854,093 6.2% CEMIG GT – R$ ’000 Mar. 2024 2023 Change, % Gross debt 3,014,06
Slide 76: Debt amortization and debenture issue
In 1Q24 Cemig D amortized debt of R$ 440.9 million, and in March 2024 concluded a further issue of R$ 2 billion in debentures, characterized as “ESG resource use securities – sustainable, for which demand was 2.73 times the offering, in two series: The first for R$ 400 million, remunerated at the CD
Slide 77: q omic
q omic
Slide 78: Debt amortized
1Q24 DEBT AMORTIZED – R$ ’000 Cemig GT Cemig D 440,916 Others Total 440,916
Slide 79: Debt breakdown by indexor
Debt breakdown by indexor
Slide 80: Debt in USD hedge
* Debt in USD is protected by a hedge instrument, within an FX variation band – with payment of interest converted to % of the Brazilian CDI rate.
Slide 81: Slide 81
Slide 82: Covenants – Eurobonds
Last 12 months 12 months Covenants – Eurobonds Mar. 2024 2023 R$ mn GT H GT H Net profit (loss) 2,287 5,522 2,403 5,767 Net financial revenue (expenses) Income tax and Social Contribution tax 1,084 Depreciation and amortization 1,300 1,078 1,274 Profit (loss) in minority holdings –79 –319 –141 –432
Slide 83: q omic
q omic
Slide 84: Cemig's long-term ratings
Cemig’s long -term ratings Cemig’s ratings have improved significantly in recent years, and are currently at their highest-ever level. In 2021 the three principal rating agencies upgraded their ratings for Cemig. In April 2022, Moody’s again upgraded its rating for Cemig, this time by one notch. In
Slide 85: Brazilian scale ratings
ER Brazilian Scale Investment Grade AAe FitchRatings 2” 2018 STANDARD AAA AA | AA | AR | AY | A | A | eee | 608 | ope | eee | ab | ee | ee | oe |e | coo 8POOR'S ans . = Moopy’ss 2” zoe : _—"_, =
Slide 86: Me: aa
Me: aa
Slide 87: ESG – Report on performance
ESG – Repo rt on performance Cemig – Highlights ▪ The Aneel IASC (Consumer Satisfaction) index reported an increase of 4.60% in consumer satisfaction with Cemig’s service quality, value and perceived reliability in 2023, compared to 2022 – attributing a score of 60.45 points, – while the result of t
Slide 88: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 89: q omic
q omic
Slide 90: Indicators – Climate change and renewable energy
Indicators Climate change and renewable energy 1Q24 Indicators
Slide 91: Renewable generation and energy indicators
% of generation from renewable sources 100% Consumption of electricity per employee (MWh) 2.26 Consumption of renewable fuels (GJ) 35,620.00 Consumption of non-renewable fuels (GJ) 851,121.00 Index of energy losses in the national grid (Cemig GT)(%) 2.51 I–REC (renewable-source) certificates sold 1,
Slide 92: Impact and environmental protection
Impact and environmental protection Number of transformers refurbished Percentage of waste sent for reuse 98.00%
Slide 93: Water resources
Water resources Water consumption (m³) 47,971.62 Surface Water Monitoring Management Indicator (%)
Slide 94: Sustainable social development
Sustainable social development Allocation to the Children’s and Adolescents’ Fund (FIA) (R$) 814,970 Allocated to the Fund for the Aged (R$) 814,970 Allocated via the Sports Incentive Law (R$) 1,629,939.79 Number of homes connected via the ‘Energia Legal’ Program 3,714
Slide 95: Health and safety
Health and safety Accident frequency rate – own plus outsourced employees 3.46 Number of fatal or non-fatal accidents with the population
Slide 96: Transparency
Transparency % of shares held by members of Boards 0.01 Number of independent members of the Board of Directors
Slide 97: Ethics and Integrity
Ethics and Integrity Total accusations received Total completed cases ruled valid or partially valid
Slide 98: Diversity and equity
Diversity and equity Number of registered employees 4,893 White employees, % 57.1% African-Brazilian employees, % 38.3% Mixed-race employees, % 0.5% Indigenous-origin employees, % 0.1% Employees not declaring race, % 4.1% Women in Cemig’s workforce, % 14.1% Women in leadership positions: % 19.7% Afr
Slide 99: q omic
q omic
Slide 100: Performance of Cemig's shares and ADRs
Performance of Ce mig’s shares and ADRs Security Mar. 2024 2023 Change, % Prices (2) CMIG4 (PN) at the close (R$/share) 12.56 11.32 10.97% CMIG3 (ON) at the close (R$/share) 14.6 14.95 –2.32% CIG (ADR for PN shares), at close (US$/share) 2.47 2.28 8.45% CIG.C (ADR for ON shares) at close (US$/share)
Slide 101: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 102: q omic
q omic
Slide 103: Cemig generation plants
Cemig ge neration plants Plant Company Cemig power (MW) Cemig physical guarantee (MW) End of concession Type Cemig interest Emborcação CEMIG GT 1,192 May-27 Hydroelectric 100.00% Nova Ponte CEMIG GT Aug-27 Hydroelectric 100.00% Três Marias CEMIG GT Jan-53 Hydroelectric 100.00% Irapé CEMIG GT Sep-37
Slide 104: q omic
q omic
Slide 105: RAP – July 2023-June 2024 cycle
RAP – July 2023-Ju ne 2024 cycle The RAP of Cemig GT has been increased by 23.5%, as from July, reflecting (i) inflation in the period, (ii) strengthening and enhancements, and (iii) flow from reprofiling of its National Grid (RBSE) component. Aneel Ratifying Resolution (ReH) 3216/2023 (2023–2024 cy
Slide 106: q omic
q omic
Slide 107: Complementary information – Cemig D
1Q24 4Q23 1Q23 Complem entary information Cem ig D MARKET OF CEMIG D (GWh) QUARTER CAPTIVE TUSD – ENERGY (1) ETD (2) TUSD – DEMAND (3) 1Q22 5,738 5,397 11,136 36.2 2Q22 6,050 5,853 11,904 36.7 3Q22 5,942 5,790 11,733 34.7 4Q22 6,047 5,755 11,802 40.5 1Q23 5,723 5,566 11,289 2Q23 5,949 6,058 12,007 3
Slide 108: q omic
q omic
Slide 109: Cemig D operational expenses and P&L
1Q24 4Q23 1Q24 4Q23 1Q23 1Q24 4Q23 1Q23 Cemig D 1Q23 Change % Change % Operational expenses (R$ mn) 4Q – 1Q 1Q – 1Q People -8.3% –6.7% Employee profit shares 4.2% 0,0% Post-employment obligations –11.9% 31.5% Materials –46.5% –8.0% Outsourced services 0.0% 11.2% Amortization –8.8% 11.3% Operational
Slide 110: q omic
q omic
Slide 111: Cemig GT – Operational expenses and income statements
1Q24 4Q23 1Q23 1Q24 4Q23 1Q23 Cemig GT – Operational expenses Change % Change % (R$ mn) 4Q – 1Q 1Q – 1Q People –4.6% –3.5% Employee profit shares 0.0% –10.0% Post-employment obligations –14.7% 123.1% Materials –14.3% 100.0% Outsourced services 19.1% 5.7% Depreciation and amortization –3.4% 3.7% Oper
Slide 112: q omic
q omic
Slide 113: Consolidated revenue from supply of electricity and net revenue
1Q24 4Q23 1Q23 1Q24 4Q23 1Q23 Consolidated – Revenue from supply of electricity Change Change (R$ mn) 4Q – 1Q 1Q – 1Q Residential 3,126 3,169 2,395 –1.4% 30.5% Industrial 1,299 1,470 1,440 –11.6% –9.8% Commercial 1,674 1,706 1,503 –1.9% 11.4% Rural –17.0% 35.6% Other –7.8% 21.6% Subtotal 7,173 7,574
Slide 114: q omic
q omic
Slide 115: Consolidated operational expenses
1Q24 4Q23 1Q23 1Q24 4Q23 1Q23 Operational expenses Change Change (R$ mn) 4Q – 1Q 1Q – 1Q People –7.2% –3.3% Profit shares 0.0% 2.6% Post-retirement obligations –11.8% 37.9% Materials -43.1% 0.0% Outsourced services 1.6% 11.1% Electricity bought for resale 3,511 3,957 3,444 –11.3% 1.9% Depreciation a
Slide 116: q omic
q omic
Slide 117: Consolidated profit and loss account
1Q24 4Q23 1Q23 Consolidated profit and loss account Change Change (R$ mn) 4Q – 1Q 1Q – 1Q Net revenue 9,058 9,957 8,647 –9.0% 4.8% Operational expenses 7,466 8,004 6,941 –6.7% 7.6% Operational profit 1,592 1,953 1,706 –18.5% –6.7% Gain (loss) in non-consolidated investees –34.5% –40.5% Adjustment of
Slide 118: Slide 118
Slide 119: Cash flow statement
Cash flow statement 1Q24 1Q23 (R$ mn) Cash at start of period 1,537 1,441 Cash from operations 1,639 Net profit 1,153 1,398 Recoverable taxes –105 Depreciation and amortization CVA and Other financial components in tariff adjustments –76 –21 Gain (loss) in non–consolidated investees –91 –153 Adjustm
Slide 120: q omic
q omic
Slide 121: Statement of financial position – Assets
Statement of financial position – Assets 1Q24 2023 (R$ mn) CURRENT Cash and cash equivalents 2,177 1,537 Securities 2,300 Consumers, Traders; Concession holders (transmission service) 5,225 5,434 Concession financial and sector assets Contractual assets Recoverable taxes Income and Social Contributi
Slide 122: q omic
q omic
Slide 123: Balance sheet – Liabilities
Balance sheet – Liabilities 1Q24 2023 (R$ mn) CURRENT Suppliers 2,667 3,017 Regulatory charges Employees’ and managers’ profit shares Taxes Income tax and Social Contribution tax Interest on Equity, and dividends, payable 3,311 2,924 Loans and debentures 2,714 2,630 Payroll and related charges Publi
Slide 124: q omic
q omic
Slide 125: Disclaimer
Discl aimer Certain statements and estimates in this material may represent expectations about future events or results which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that events or results will occur as referred to in these expectations. These expec
Slide 126: COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
COMPANHIA ENERGÉTICA DE MINAS GERAIS S.
Slide 127: q omic
q omic
Slide 128: WWW.RI.CEMIG.COM.BR
WWW.RI.CEMIG.COM.BR
Slide 129: Minutes of the Annual and Extraordinary Shareholders' Meetings, April 29, 2024
4 - Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024 COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64 – Company Registry (NIRE): 31300040127 MINUTES OF THE ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETINGS SIMULTANEOUS
Slide 130: Resolutions
Resolutions : 1) To unanimously approve, according to the final voting map attached hereto, with 700,177,946 votes in favor, 0 votes against, and 191,312 abstentions, the Management Report and the Financial Statements for the year ended December 31, 2023, accompanied by the respective supplementary
Slide 131: Election of board members
(a) Afonso Henriques Moreira Santos , Brazilian citizen, married, electrical engineer, holder of identification document MG737.136, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 271.628.506-34, with 755,374,684 votes in favor; (b) José Reinaldo Magalhães , Brazilia
Slide 132: Board of directors elected members
Barbacena, 1200, Edifício Júlio Soares, Santo Agostinho, CEP 30.190-131, in the city of Belo Horizonte, except for Marcus Leonardo Silberman, who resides abroad, with address to receive summons and notices, under the terms of Paragraph 2, Article 146 of Law 6,404/76, at Rua General Garzon, 22, salas
Slide 133: Fiscal council election votes
under number 343.613.166-00, with 381,795,368 votes in favor, 82,007,784 votes against, and 236,566,106 abstentions; (b) as per Official Letters SEDE/CCGE Numbers 45/2024, dated March 21, 2024, and 30/2024, dated March 15, 2024 as sitting member, Lucas de Vasconcelos Gonzalez , Brazilian citizen, ma
Slide 134: BNDESPAR vote statement and capital increase resolution
“Shareholder BNDES Participações S.A.-BNDESPAR stated the following: “ Shareholder BNDES Participações S.A. hereby casts its vote against the management compensation proposal, as it believes that although the overall compensation is in line with the market, the existence of fixed compensation for th
Slide 135: Authorization and closure of meeting
9) To authorize, by a unanimous vote, according to the final voting map attached hereto, with 700,451,437 votes in favor, 0 votes against, and 0 abstentions, Management to practice all acts necessary for the implementation of the aforementioned resolutions. Closure : After offering the floor to anyo
Slide 136: Notice to the Market – Moody's upgrades Cemig ratings
5 - Notice to the Market dated May 8, 2024 – Moody's upgrades Cemig ratings COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY-HELD COMPANY Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64 Company Registry (NIRE): 31300040127 NOTICE TO THE MARKET Moody's upgrades Cemig ratings COMPANHIA ENERGÉT
Slide 137: Notice to Shareholders – First Payout Installment
Type of Payout Approval Date Date “with rights” Date “ex-rights” Per common/preferred share (R$) Total Amount (R$ thousand) 6 - Notice to Shareholders dated June 17, 2024 - First Payout Installment COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY-HELD COMPANY CORPORATE TAXPAYER’S ID (CNPJ): 17.
Slide 138: Notice to Shareholders – Declaration of Interest on Equity
7 - Notice to Shareholders dated June 18, 2024 - Declaration of Interest on Equity COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY-HELD COMPANY Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64 Company Registry (NIRE): 31300040127 NOTICE TO SHAREHOLDERS Declaration of Interest on Equity We he
Slide 139: Notice to the Market – CEMIG suspends the auction of four SHPs/HPPs
8 - Notice to the Market dated June 27, 2024 – CEMIG suspends the auction of four SHPs/HPPs COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG PUBLICLY-HELD COMPANY CORPORATE TAXPAYER’S ID (CNPJ): 17.155.730/0001-64 Company Registry (NIRE): 31300040127 CEMIG GERAÇÃO E TRANSMISSÃO S.A. PUBLICLY-HELD COMPAN
Energy Co of Minas Gerais — Q1 2024 Earnings Presentation on 6ix