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July 01, 2015 8:35 AM ET

Electric Utilities

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

Company Overview

Companhia Energética de Minas Gerais S.A. – CEMIG, through its subsidiaries, engages in the generation, transformation, transmission, distribution, and sale of electric energy primarily in Minas Gerais, Brazil. As of December 31, 2014, the company generated electricity through 78 hydroelectric plants, 3 thermoelectric plants, and 23 wind farms with a total installed capacity of 7,716 megawatts; owned and operated the generation and transmission network of 1,355 miles of 500 kV lines, 1,228 miles of 345 kV lines, and 478 miles of 230 kV lines in Minas Gerais; and operated 316,500 miles of distribution lines. It also acquires, explores for, transports, distributes, and sells natural gas and it...

Avenida Barbacena, 1200

Belo Horizonte, MG 30190-131

Brazil

Founded in 1952

7,922 Employees

Phone:

55 31 3506 3711

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

Brazil Court Quashes Cemig Hydro Challenge

A Brazilian court has rejected a bid by Cemig to continue operating the 424 MW Jaguara hydroelectric plant. The ruling comes almost two years after Cemig launched legal action after the federal government revoked its concession to operate the plant. Cemig claims it was unlawfully stripped of the contract after the introduction of the controversial MP579 bill, sanctioned by President Dilma Rousseff in January 2013, which slashed future revenue from the facility in Minas Gerais state.

Companhia Energética de Minas Gerais S.A. Presents at Citi's 8th Annual Brazil Equity Conference, Jun-24-2015 01:00 PM

Companhia Energética de Minas Gerais S.A. Presents at Citi's 8th Annual Brazil Equity Conference, Jun-24-2015 01:00 PM. Venue: Sao Paulo, Brazil.

Cemig Reports Audited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Cemig reported audited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company’s net revenue was BRL 5,849.279 million against BRL 4,710.009 million a year ago. Income before Financial income and taxes was BRL 2,331.772 million against BRL 1,926.496 million a year ago. Pretax income was BRL 2,058.322 million against BRL 1,828.957 million a year ago. Net income for the period was BRL 1,484.627 million against BRL 1,250.089 million a year ago. Adjusted net income for the period was BRL 911.445 million against BRL 1,338.265 million a year ago. EBITDA was BRL 2,578.893 million against BRL 2,108.529 million a year ago. The company’s consolidated total debt at March 31, 2015 was BRL 13.056 billion, 3.35% lower than at December 31, 2014. Net cash generated by operating activities was BRL 0.332 million against BRL 0.618 million a year ago. Investments in Fixed and intangible assets were BRL 0.242 million against BRL 0.167 million a year ago.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 18, 2014
Companhia de Gás de Minas Gerais - Gasmig
 

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