Companhia Energetica de Minas Gerais - CEMIG (NYSE:CIG) Q3 2024 Earnings Conference Call November 18, 2024 8:30 AM ET

Company Participants

Carolina Senna - Investor Relations Superintendent
Reynaldo Passanezi Filho - Chief Executive Officer
Leonardo George de Magalhaes - Chief Finance and Investor Relations Officer
Dimas Costa - Chief Commercial Officer

Conference Call Participants

Marcelo Sa - Banco Itau
Daniel Travitzky - Banco Safra

Carolina Senna

Good morning, everyone. I am Carolina Senna, Cemig's Investor Relations Superintendent. Welcome to Cemig's Third Quarter 2024 Earnings Video Conference Call. We inform you that this video conference is being recorded and will be available on the company's IR website where you also find the company's presentation.

Should you need simultaneous interpreting, the feature is available by clicking on the Globe icon located on the bottom of the screen. Upon choosing Interpretation, select the language of your choice, Portuguese or English. Should you choose to follow the call in English, you may also select Mute Original Audio.

We are now starting Cemig's Video Conference with Reynaldo Passanezi Filho, CEO; Dimas Costa, Chief Commercial Officer; Leonardo George de Magalhaes, CFO and IR Officer; and Marney Tadeu Antunes, Chief Distribution Officer.

For the initial remarks, I turn the floor to our CEO, Reynaldo Passanezi Filho.

Reynaldo Passanezi Filho

Good morning. Good morning, everyone. Welcome to the earnings video conference call for the third quarter of 2024. Once again, very consistent results, results that prove the significant turnaround of the company as well as its financial softness.

We do have some highlights that are very special. They have already been announced over this period of time and they are very positive. We right now have the best rating in our history, AAA. We couldn't be better. This is the best rating in the company's history and this is the best rating possible. We have over six notches of growth in a period that is lower in five years. So this is really an acknowledgment by Fitch.

Thanks to our consistent results, our cash generation and also EBITDA over net debt, that is one of the best in history. Also in this quarter, we concluded the sale of Alianca Energia. This has been announced 45 days ago. We have received BRL2.7 billion and now we are recording in this quarter a capital gain of BRL1.6 billion.

And also we have very positive results of our transmission tariff revision with a gain of BRL1.5 billion in the IFRS and the adjustments of ARTT for transmission. Therefore, we're reaching the best EBITDA in our history. BRL5 billion in this third quarter. These are wonderful results. In addition to the consistency of the results effectively with these events, we are reaching, again, the best EBITDA in our history as well as AAA, which is the best rating possible.