Companhia Energética de Minas Gerais (Cemig) released its earnings report for the second quarter of 2025, announcing a net income of $209.6 million. On a per-share basis, the company reported net income of 7 cents, with adjusted earnings, excluding non-recurring costs, at 8 cents per share.
The company's adjusted EBITDA saw a 15% increase, reaching $430 million for the quarter. This growth was significantly driven by the distribution segment (Cemig D), which reported a 39% increase in adjusted EBITDA, excluding non-recurring effects, largely due to the reimbursement of tariff subsidies.
Cemig D successfully implemented a 7.78% tariff adjustment in Q2 2025, contributing to its segment performance. While Gasmig, the gas distribution arm, reported in-line EBITDA and significantly higher net profit, the trading segment faced headwinds with a negative BRL 76 million impact due to energy submarket price differences.
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