According to the balance sheet published this Thursday, Cemig’s net profit for the third quarter was R$ 797 million, a decrease of 75.7% compared to the previous year’s results.
The company’s operating result, measured by adjusted EBITDA, amounted to R$1.47 billion, a decrease of 16.2% compared to the third quarter of last year.
The company said the decrease in adjusted EBITDA is related to lower volumes of energy transported in the captive market and Cemig D, lower commercialization margins and lower generation EBITDA.
Analysts on average had expected EBITDA of 1.7 billion reais for the period, according to IBES data from LSEG.
According to the balance sheet, net revenue from July to the end of September rose by 4.64% over the same period to R$10.6 billion.
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