Financial Data and Key Metrics Changes - The company's market value increased from BRL 10 billion to almost BRL 36 billion, with BRL 12.7 billion paid in dividends during this period [4][8] - The PN shares rose by 394% and ON shares by 437% [4][8] - The net debt over EBITDA ratio improved from 3.2 times to 1 time, and the company's rating increased by six notches to AA+ [34] Business Line Data and Key Metrics Changes - The company executed the largest CapEx plan in its history, amounting to BRL 49 billion, with BRL 13.6 billion already invested by 2023 [27][31] - Investments are focused on regulated businesses, with 80% of the BRL 49 billion allocated to distribution, transmission, and natural gas [29] Market Data and Key Metrics Changes - The company has seen a significant increase in market share, with EBITDA rising from 3.7% to close to 8% and net income increasing from 5.8% to 16.1% [33] - The company is now a leader in trading and aims to maintain this position in both the free and retail markets [32] Company Strategy and Development Direction - The company is focused on privatization as a long-term strategy to unlock more value [13][40] - The strategic plan emphasizes concentrating investments in Minas Gerais, with a commitment to customer-centric operations [28][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth, citing ongoing improvements in operational efficiency and customer service [12][38] - The company aims to enhance its competitive position by focusing on regulated investments and improving service quality [29][30] Other Important Information - The company has divested from minority holdings outside Minas Gerais, recovering BRL 13 billion and allowing for increased investments in its core operations [26][28] - The management highlighted significant technological advancements and improvements in customer service systems [17][36] Q&A Session All Questions and Answers Question: What is the outlook for privatization? - Management confirmed that privatization remains a key focus, with the goal of enhancing the company's value and operational efficiency [13][40] Question: How is the company addressing customer service improvements? - The company is implementing new technologies and systems to enhance customer interactions and service delivery [17][36] Question: What are the expectations for future investments? - The company plans to continue its aggressive investment strategy, particularly in regulated sectors, to improve service quality and operational capacity [29][31]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Comp En De Mn Cemig (CIG) as a strong value stock based on various financial metrics [2][8]. Group 1: Company Overview - Comp En De Mn Cemig (CIG) has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential for value investors [4]. - The stock has a Forward P/E ratio of 7.14, significantly lower than the industry average of 15.15, suggesting it may be undervalued [4]. - CIG's Forward P/E has fluctuated between 5.07 and 8.97 over the past year, with a median of 6.47 [4]. Group 2: Valuation Metrics - CIG has a Price-to-Book (P/B) ratio of 1.15, compared to the industry average of 2.31, indicating a favorable valuation [5]. - The P/B ratio for CIG has ranged from 0.93 to 1.23 in the last 12 months, with a median of 1.05 [5]. - The Price-to-Sales (P/S) ratio for CIG is 0.79, which is lower than the industry average of 1.94, further supporting the undervaluation thesis [6]. - CIG's P/S ratio reflects a strong performance indicator as sales are less prone to manipulation [6]. - The Price-to-Cash Flow (P/CF) ratio for CIG stands at 4.32, well below the industry average of 10.17, indicating solid cash flow relative to its valuation [7]. - CIG's P/CF has varied between 3.42 and 4.66 over the past year, with a median of 3.91 [7]. Group 3: Investment Outlook - The combination of these metrics suggests that Comp En De Mn Cemig is likely undervalued, making it an attractive option for value investors [8].

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis an ...

Carolina Senna - IR Reynaldo Filho - CEO Leonardo Magalhaes - CFO Marney Antunes - CDO Marco Soligo - CPO Carolina Senna The transaction was concluded a large transaction. It's BRL 2.7 billion adjusted by the CDI. There is another less HPP's auction to happen now in July. So we are moving forward with our divestment in minority stakeholding and nonstrategic assets so that we can focus in our strategic assets, which are distribution, generation and transmission and managers. And here, once again, we have res ...

Table of Contents Annual Report and Form 20-F 2023 CEMIG Logo Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT ...

Companhia Energética de Minas Gerais - CEMIG (NYSE:CIG) Q4 2023 Earnings Conference Call March 21, 2024 2:00 PM ET Company Participants Carolina Senna - IR Superintendent Reynaldo Passanezi Filho - CEO Leonardo George de Magalhaes - CFO Marney Tadeu Antunes - Chief Distribution Officer Thadeu Carneiro da Silva - Chief Generation and Transmission Officer Conference Call Participants Carolina Senna Yeah, thank you. Good afternoon, everyone. My name is Carolina Senna. I'm Investor Relations Superintendent of ...

IFRS 1,969 2,453 1,406 1,886 Gain on disposal of investment – –288 – –202 Surpluses Sales Mechanism (MVE) –204 – –144 – Other adjustments –106 – –70 – FX exposure – Eurobond hedge – – 12 – RECURRING 1,658 2,163 1,204 1,684 11 EBITDA 1,969 2,453 +24.5% +30.5% 1,658 2,163 4Q22 recurring 1,406 1,886 +34.0% +39.8% 1204 1684 4Q22 4Q23 recurring recurring 4Q22 IFRS 4Q23 IFRS 4Q23 RESULTS 4Q23: Consolidated operational costs and expenses Manageable expenses rose less than inflation PMSO costs – 4Q22–4Q23 Increase ...

Thank you very much, Leonardo. So moving on into each one of the businesses. Let's start on the Cemig consolidated results in 2023. This is a clean result as a nonrecurring effect. We have the reversion of the provision in the first quarter for the sale of the SHPPs as we mentioned. So the recurring EBITDA when we analyze it, we grew 28% when compared to the same quarter in the past year and our profit was up 20%. I draw your attention to the recurring result. As our CEO mentioned, we should close the year ...

Ratings Breakdown by type 32% 37% 31% Dollar IPCA CDI 13 Classificação: Direcionado Earnings Presentation 3Q23 CEMIG D – 3Q23 RESULTS 3Q22 IFRS 3Q23 IFRS EBITDA NET PROFIT Classificação: Direcionado Earnings Presentation 3Q23 BENCHMARK IN ESG 23 consecutive years in the index. The only company in the Americas from the energy sector Leader in the Brazilian energy sector: AA S&P Global Brazil's first AGRIVOLTAIC project Cemig, Epamig and CPQD* form partnership • Expanding land use, building innovative clean e ...