Cemig Files Q2 2024 Financials with Risk Disclosures

TL;DR

Cemig dropped Q2 2024 financials, but watch out for those forward-looking statement risks.

AI Summary

Energy Company of Minas Gerais (Cemig) filed a Form 6-K on January 2, 2025, reporting its interim financial information for the second quarter of 2024. The filing includes forward-looking statements that are subject to risks and uncertainties, meaning actual results could differ from predictions.

Why It Matters

This filing provides investors with updated financial performance data for Cemig, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing explicitly mentions forward-looking statements subject to risks and uncertainties, indicating potential for material differences in actual results.

Key Players & Entities

• Energy Company of Minas Gerais (company) — Registrant
• Cemig (company) — Commonly referred name for the registrant
• 2Q2024 (date) — Reporting period for interim financial information
• January 2025 (date) — Reporting month for the Form 6-K
• 20250102 (date) — Filing date

FAQ

Key Financial Figures

• $1,688,586 — Q24 was 35.59% higher year-on-year, at R$1,688,586 compared to R$1,245,382 in 2Q23. The m
• $1,245,382 — ar-on-year, at R$1,688,586 compared to R$1,245,382 in 2Q23. The main changes in revenue,
• $8,144,077 — in 2Q24 was up 8.17% year-on-year, at R$8,144,077, compared to R$7,528,639 in 2Q23. Apr
• $7,528,639 — r-on-year, at R$8,144,077, compared to R$7,528,639 in 2Q23. Apr to Jun/2024 Apr to Jun/2
• $56,556 — ter of 2024, this amount was a gain of R$56,556, which compares to a gain of R$164,649
• $164,649 — R$56,556, which compares to a gain of R$164,649 in 2Q23. The difference mainly reflects
• $190,186 — mpany posted a positive item (gain) of R$190,186 under Realization of restitution to con
• $561,518 — d Cofins taxes, which compares with of R$561,518 in 2Q23. This recomposition of revenue
• $1,154,213 — stribution concession in 2Q24, totaled R$1,154,213 – 26.03% higher than in 2Q23 (R$9
• $915,822 — 13 – 26.03% higher than in 2Q23 (R$915,822). This basically reflects the higher nu
• $104,891 — ancement of infrastructure in 2Q24 was R$104,891 – an increase of 50.27% compared
• $69,802 — ash; an increase of 50.27% compared to R$69,802 in 2Q23. The higher value mainly reflec
• $134,430 — t assets was 25.07% higher in 2Q24, at R$134,430, compared to R$107,485 in 2Q23. This va
• $107,485 — her in 2Q24, at R$134,430, compared to R$107,485 in 2Q23. This variation is mainly assoc
• $3,427,961 — and charges on revenue in 2Q24 totaled R$3,427,961, compared to R$3,231,998 in 2Q23 &ndash

Filing Documents

• cig20241223_6k.htm (6-K) — 2979KB
• image_007.jpg (GRAPHIC) — 51KB
• image_008.jpg (GRAPHIC) — 2KB
• image_009.jpg (GRAPHIC) — 24KB
• image_010.jpg (GRAPHIC) — 24KB
• image_011.jpg (GRAPHIC) — 15KB
• image_012.jpg (GRAPHIC) — 19KB
• image_013.jpg (GRAPHIC) — 23KB
• image_014.jpg (GRAPHIC) — 3KB
• 0001292814-25-000004.txt ( ) — 3201KB

Forward-Looking Statements

Forward-Looking Statements This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those predicted in such forward-looking statements. Factors which may cause actual results to differ materially from those discussed herein include those risk factors set forth in our most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. CEMIG undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Table of Contents

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. COMPANHIA ENERGTICA DE MINAS GERAIS – CEMIG By: /s/ Andrea Marques de Almeida Name: Andrea Marques de Almeida Title: Vice President of Finance and Investor Relations Date: January 2, 2025 Table of Contents 1. 1. Cemig's Interim Financial Information – 2Q2024 SUMMARY FINANCIAL RESULTS 2 14 16 18 19 21 NOTES TO THE INTERIM FINANCIAL INFORMATION 22 1. OPERATING CONTEXT 22 2. BASIS OF PREPARATION 23 3. PRINCIPLES OF CONSOLIDATION 24 4. OPERATING SEGMENTS 24 5. CASH AND CASH EQUIVALENTS 27 6. MARKETABLE SECURITIES 27 7. RECEIVABLES FROM CUSTOMERS, TRADERS AND CONCESSION HOLDERS 28 8. RECOVERABLE TAXES 29 9. INCOME AND SOCIAL CONTRIBUTION TAXES 30 10. ESCROW DEPOSITS 32 11. CONCESSION FINANCIAL AND SECTOR ASSETS AND LIABILITIES 32 12. CONCESSION CONTRACT ASSETS 35 13. INVESTMENTS 36 14. PROPERTY, PLANT AND EQUIPMENT 38 15. INTANGIBLE ASSETS 39 16. LEASING 40 17. SUPPLIERS 41 18. TAXES PAYABLE AND AMOUNTS TO BE REFUNDED TO CUSTOMERS 42 19. LOANS AND DEBENTURES 43 20. REGULATORY CHARGES 46 21. POST-EMPLOYMENT OBLIGATIONS 47 22. PROVISIONS 47 23. EQUITY AND REMUNERATION TO SHAREHOLDERS 50 24. NET REVENUE 52 25. COSTS AND EXPENSES 56 26. FINANCE INCOME AND EXPENSES 60 27. RELATED PARTY TRANSACTIONS 61 28. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT 66 29. SALE OF ASSETS 74 30. ASSETS CLASSIFIED AS HELD FOR SALE 75 31. PARLIAMENTARY COMMITTEE OF INQUIRY (‘CPI’) 77 32. SUBSEQUENT EVENTS 77 Report on Review of interim Financial Information – ITR 80 OTHER INFORMA

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View this 6-K filing on SEC EDGAR