Energy Co of Minas Gerais - Company Profile
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Energy Co of Minas Gerais is an integrated energy utility. It generates, transmits and distributes electricity. Through its subsidiaries and jointly controlled investees, it has a presence in the entire electricity vertical. The company produces electricity using wind, solar and hydro sources; and procures electricity from Itaipu, regulated contracts, MRE, PROINFA, CCEE, bilateral contracts, CCEN, CCGF and local grids. The company distributes natural gas to industrial, commercial, residential, automotive, co-generation markets and thermo-electric power plants in the State of Minas Gerais. It also provides consulting project services. Energy Co of Minas Gerais is headquartered in Belo Horizonte, Minas Gerais, Brazil.
Headquarters
Brazil
Address
Avenida Barbacena, 1200, 16 / B1, Santo Agostinho, Belo Horizonte, 30.190-131
Website
www.cemig.com.br
Telephone
55 31 35065026
No of Employees
4,969
Industry
Power
Ticker Symbol & Exchange
CMIG4 (SAO)
Revenue (2022)
$6.7B
2.4%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
9.1%
(2022 vs 2021)
Market Cap*
$5.7B
Net Profit Margin (2022)
XYZ
6.5%
(2022 vs 2021)
* As of and is in US$
Energy Co of Minas Gerais premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Gas | Energy Trading |
| Electricity | Project Efficiency Optimization Solutions |
| Operational and Management Services | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In November, the company and the Brazilian Army entered into a partnership for the training of new professionals in the Line Electricians course of Aerial Electricity Distribution Networks. |
| 2023 | Acquisitions/Mergers/Takeovers | In July, CEMIG SOLUCOES INTELIGENTES EM ENERGIA S.A. concluded the acquisition of the remaining 51% of stake in G2 OLARIA 1 ENERGIA S.A., G2 CAMPO LINDO 1 ENERGIA S.A., G2 CAMPO LINDO 2 ENERGIA S.A. and in SPE G2 OLARIA 2 ENERGIA S.A. |
| 2023 | Contracts/Agreements | In June, the company entered into an electricity supply contract with Arena MRV to deliver clean, renewable energy guaranteed by the Renewable Energy Certificate, Cemig REC. |
Competitor Comparison
| Key Parameters | Energy Co of Minas Gerais | Neoenergia SA | CPFL Energia SA | Centrais Eletricas Brasileiras S.A. | Equatorial Energia SA |
|---|---|---|---|---|---|
| Headquarters | Brazil | Brazil | Brazil | Brazil | Brazil |
| City | Belo Horizonte | Rio De Janeiro | Campinas | Rio de Janeiro | Sao Luis |
| State/Province | - | Rio de Janeiro | - | Rio de Janeiro | - |
| No. of Employees | 4,969 | 11,746 | 8 | 9,529 | 1,178 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Marcio Luiz Simoes Utsch | Chairman | Executive Board | - | - |
| Reynaldo Passanezi Filho | Chief Executive Officer | Senior Management | - | - |
| Leonardo George de Magalhaes | Chief Financial Officer; Investor Relations Officer | Senior Management | - | - |
| Henrique Motta Pinto | Director - Regulatory and Legal | Senior Management | - | - |
| Roberta Nanini Chauar Rolim | Deputy Director - Regulatory | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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