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Last $5.06 USD
Change Today +0.05 / 1.00%
Volume 4.7M
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Avenida Barbacena, 1200

Belo Horizonte, MG 30190-131

Brazil

Phone: 55 31 3506 3711

Fax:

Companhia Energetica de Minas Gerais S.A. engages in the generation, transmission, distribution, and sale of electricity; gas distribution; telecommunication business; and the provision of energy solutions. Companhia Energética de Minas Gerais (Cemig) Cemig engages in transactions to buy and sell of electricity through its subsidiaries. The total of volume of electricity resourced in 2013 was 85,884 gigawatt hours (GWh). The amount of energy produced by the Group in 2013 was 26,847 GWh. These figures include electricity purchased from Itaipu (8,374 GWh), through the Eletricity Trading Chamber (Câmara de Comercializacao de Energia Eletrica, or CCEE) and from other companies (50,664GWh). The energy traded in 2013, totaled 48,089 GWh. Cemig’s principal subsidiaries and jointly-controlled subsidiaries include Cemig Geração e Transmissão S.A. (100% owned), which operates in electricity generation and transmission; Cemig Distribuição S.A. (100% owned), which operates in electricity distribution; Companhia de Gás de Minas Gerais (Gasmig) (59.57% owned), which acquires, transports, distributes and sells natural gas; Transmissora Aliança de Energia Eletrica S.A. (42.38% of the voting stock and 43.36% of the total stock), which engages in: construction, operation and maintenance of electricity transmission facilities in 11 states of Brazil; and Light S.A. (Light) (direct holding of 26.06% and indirect holding of 6.42% of total stock), which engages in electricity generation, transmission, trading and distribution, and other related services; direct or indirect holding of interests in companies operating in these areas. Generation Assets In 2013, the subsidiaries and jointly-controlled subsidiaries of the Cemig Group holding company (Cemig) operated generation capacity totaling 7,145.3 megawatts (MW), in 64 hydroelectric plants, 3 thermal plants and 3 wind farms, corresponding respectively to 6,912.4 MW, 183.9 MW and 48.8 MW. Light has total installed generation capacity of 285 MW, and effective average output of 212 MW. Cemig Generation and Transmission S.A.: As of December 31, 2013, the company had electricity generation capabilities in 47 hydroelectric plants, 1 thermoelectric plant and 3 wind farms, which totals a generation capacity of 6,518 value of which hydroelectric plants accounted for 6,339 MW, thermoelectric plants accounted for 131 MW and wind farms accounted for 48.8 MW. In addition to its own plants, Cemig Generation and Transmission participates in the following consortia: Baguari Hydroelectric Power Plant: Participation of 49% of Baguari Energia S.A. and 51% of Baguari I Electric Power Generation (Neoenergia). In Baguari Energia SA, the company has 69.39% stake as a partner and Furnas Central Electric SA with 30.61%. Aimores Hydroelectric Power Plant: The company has a 49% interest in this enterprise and its partner, Vale S.A., has the remaining 51% interest. Funil Hydroelectric Power Plant: The company has a 49% interest in this enterprise and its partner, Vale S.A., has the remaining 51% interest. Igarapava Hydroelectric Power Plant: The company has a 14.5% interest in this enterprise and its partners are Vale S.A. (38.2%), Votorantim Metais Zinco S.A. (23.9%), Companhia Siderúrgica Nacional S.A. (17.9%) and Anglogold Ashanti Córrego do Sítio Mineração S.A. (5.5%). Queimado Hydroelectric Power Plant: The company’s partner in this project is CEB Participações S.A. (CEBPar), a subsidiary of Companhia Energetica de Brasília, or CEB, a state-controlled electricity company. CEB has a 17.5% interest and the company has the remaining 82.5%. Porto Estrela Hydroelectric Plant: The company has a 33.3% interest in this enterprise and its partners are Vale S. A. (33.3%) and Companhia de Tecidos Norte de Minas — Coteminas (33.3%). Tapajós: The company has an 11.11% interest in this enterpriseand its partners are Centrais Eletricas Brasileiras S.A. (11.11%), Eletronorte (11.11%), CCCC S.A. (11.11%), EDF (11.11%), Copel GT (11.11%), Endesa (11.11%), GDF Suez, (11.11%), and Neoenergia (11.11%). Cosama: The company has an 49% interest in this enterprise and its partner, CPFL Energia

 

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Valuation CIG Industry Range
Price/Earnings 5.3x
Price/Sales 0.9x
Price/Book 1.5x
Price/Cash Flow 2.8x
TEV/Sales NM Not Meaningful
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