January 24, 2017 12:22 AM ET

Electric Utilities

Company Overview of Companhia Energética de Minas Gerais S.A.

Company Overview

Companhia Energética de Minas Gerais S.A., through its subsidiaries, engages in the generation, transmission, distribution, and trading of electric energy in Brazil. It also distributes natural gas. The company was founded in 1952 and is headquartered in Belo Horizonte, Brazil.

Avenida Barbacena, 1200

Belo Horizonte, MG 30190-131

Brazil

Founded in 1952

7,860 Employees

Phone:

800 7210 116

Key Executives for Companhia Energética de Minas Gerais S.A.

Companhia Energética de Minas Gerais S.A. does not have any Key Executives recorded.

Companhia Energética de Minas Gerais S.A. Key Developments

Companhia Energética de Minas Gerais S.A. Presents at Santander’s 21st Annual Latin American Conference, Jan-18-2017

Companhia Energética de Minas Gerais S.A. Presents at Santander’s 21st Annual Latin American Conference, Jan-18-2017 . Venue: Paradisus Cancun Resort, Blvd. Kukulcan Km. 16.5, Zona Hotelera, Cancún Q.Roo DF 77500, Mexico.

Energy Company of Minas Gerais Announces Unaudited Consolidated and Holding Company Earnings Results for the Six Months Ended June 30, 2016

Energy Company of Minas Gerais announced unaudited consolidated and holding company earnings results for the six months ended June 30, 2016. For the six months, on the consolidated basis, the company reported revenue of BRL 9,205,807,000 against BRL 11,241,759,000 a year ago. Operational profit before financial income (expenses) and taxes was BRL 921,284,000 against BRL 3,382,457,000 a year ago. Profit before income tax and social contribution tax was BRL 296,697,000 against BRL 2,857,426,000 a year ago. Profit for the period was BRL 207,331,000 against BRL 2,018,891,000 a year ago. Total of net profit for the year attributed to interest of the controlling stockholders was BRL 207,166,000 against BRL 2,018,614,000 a year ago. Basic and diluted profit per common share was BRL 0.16 against BRL 1.60 a year ago. Net cash generated by operational activities was BRL 1,584,872,000 against BRL 970,180,000 a year ago. Investment in Intangible assets was BRL 466,716,000 compared to BRL 399,912,000 a year ago. For the six months, on the company basis, the company reported revenue of BRL 453,000 against BRL 161,000 a year ago. Operational profit before financial income (expenses) and taxes was BRL 12,130,000 against BRL 1,947,670,000 a year ago. Profit before income tax and social contribution tax was BRL 80,381,000 against BRL 1,957,394,000 a year ago. Profit for the period was BRL 207,166,000 against BRL 2,018,614,000 a year ago. Total of net profit for the year attributed to interest of the controlling stockholders was BRL 207,166,000 against BRL 2,018,614,000 a year ago. Basic and diluted profit per common share was BRL 0.16 against BRL 1.60 a year ago. Net cash generated by operational activities was BRL 523,261,000 against BRL 279,238,000 a year ago.

CEMIG In Talks To Sell Shares In Light

Companhia Energética de Minas Gerais S.A. (BOVESPA:CMIG4) is still negotiating with potential buyers the sale of some stake in Light S.A. (BOVESPA:LIGT3). Cemig is negotiating with both operators and investment funds, but it is prioritising long-term investors. Among the possible buyers are The AES Corporation (NYSE:AES), Enel SpA (BIT:ENEL), Iberdrola, S.A. (BME:IBE) and CPFL Energia S.A. (BOVESPA:CPFE3). The operation is part of Cemig's corporate restructuring strategy.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 30, 2016
5.62% stake in RME Rio Minas Energia Participações and 5.56% stake in Luce Empreendimentos
Merger/Acquisition
September 12, 2016
Transchile Charrua Transmision S.A.
 

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