Companhia Energética de Minas Gerais (NYSE:CIG) Q4 2022 Earnings Conference Call March 27, 2023 10:30 AM ET

Company Participants

Márcio Luiz Simões Utsch – Chairman

Carolina Senna – Superintendent-Investor Relations

Reynaldo Passanezi Filho – Chief Executive Officer

Leonardo George de Magalhães – Chief Financial Officer

Marney Tadeu Antunes – Chief Distribution Officer

Conference Call Participants

Daniel Travitzky – Safra Bank

André Sampaio – Santander

João Pimentel – BTG

Márcio Luiz Simões Utsch

[Call Starts Abruptly] If we lose market, this will be a defeat for us. Just as all of our victories will show, when people say we want to stay with you, this is the work that our team has to do. So there is a note saying that says, if you only know who are your friends, if you eat a bag of salt with the other people. And so my dad used to say that it takes a long time to eat a bag of salt. So we have a long time to develop this relationship. And I think this relationship that we are going through of process improvement, to have at the end that yes from our consumers, our clients work with us. I think that is our job. And we are doing. We are working on it in addition to governance, team, technology and service.

Another topic that is really important is Cemig's privatization. All of you know that Zema when he was elected and then reelected, he said that he wanted to privatize Cemig. This is no secret. It was openly said in his election campaign. And this is the task that has part of it to be executed by the administration and another part by the state administration because that has to be approved by the administration of the state. And so, we have to convince the congressman that this is good for the state, good for the population, and they have to say yes to this project. And once they say yes, we have to work for that. And if they say no, we'll continue being a state company and improving all these. If you compare Cemig's results in the last two or three years, you see that we are in the upward trend.

We have – one another indicator of non-recurring events and sometimes are not that good, but you will see a history of improvements in our results in the past few years being a state-owned company. So if it's not approved by result, that's okay, we'll continue working and dedicating ourselves because we know that working on a state owned company is not dancing with my sister on the ball. It's to dance with the most beautiful lady of the ball. But if, if we cannot be privatized, we will be a state owned company that it is a very strong one. But I do believe that we should convince them because we have arguments, we have data, not only objective data, but the subjective argument as well. Why is it better? So the objective data is that of course the company will have a greater value.