The following is a summary of the Companhia Energética De Minas Gerais - CEMIG (CIG) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CEMIG reported a record Adjusted EBITDA of BRL8.1 billion, a substantial increase from previous years.

• The company achieved a record net income of BRL5.4 billion as part of its strategy.

• Divestments from non-strategic assets resulted in approximately BRL800 million in cash inflows in 2023.

• The proposed dividends for 2023 indicate a dividend yield of 12.4%.

Business Progress:

• The company executed a significant divestment strategy, selling off non-strategic assets primarily outside the state of Minas.

• Capital allocation was significantly improved, focusing on their most familiar businesses.

• With increased efficiencies, their assets provide improved operating performance and profitability.

• In 2023, records were set for company investments with BRL4.8 billion invested and are forecasted to invest BRL6 billion in 2024.

• The company has committed to nearly all domestic and international sustainability indicators, demonstrating their commitment to ESG.

• Gasmig, a natural gas distributing company, reported an EBITDA growth of 21.9% in 2023 compared to 2022.

• Maintaining compliance with regulatory loss limits, OpEx, and EBITDA, they continue to replace obsolete meters with smart meters.

• Digital channels have boosted collections up to 65%.

• They plan to invest in floating distributed generation, initiated a share subscription for the April 2024 shareholders' meeting, and intend to renew the generation concession due in 2026 and 2027.

More details: Energy Company of Minas Gerais IR

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