Workflow
Cemig(CMIG4.SA)2Q24~Moving forward despite federalization headwinds
UBS·2024-08-15 02:59

Investment Bank First Read Cemig 2Q24 - Moving forward despite federalization headwinds Q: How did the results compare vs expectations? Cemig reported net revenue ex-construction of R$8,177mn, up +3% YoY, in line with UBSe and consensus. Adjusted EBITDA of R$1,726mn was -5% lower YoY, -4% lower than UBSe and -11% below consensus. Net income of R$1,689mn was +36% higher YoY and a beat to UBSe and consensus mainly driven by a provision reversal of R $584. Adjusting the net income by the provision reversal, bo ...