CEMIG: recurring EBITDA up 31% on investment growth and a 30-year concession renewal

what happened

Brazilian power utility CEMIG, according to TradingView, reported that recurring EBITDA for the first nine months of 2026 rose 31% year on year to 1,993 million reais. Reported third-quarter results were also lifted by a 1.1 billion reais provision reversal that followed a court ruling.

Over the nine months the company invested 5.1 billion reais, and the Sá Carvalho concession was renewed for 30 years. A second report on the same results notes that the investment plan is close to 7 billion reais, which the author sees as supporting continued growth and further concession renewals.

why it matters

Investors should separate two things here: the operating growth in EBITDA, and a one-off provision reversal that boosts reported profit but does not reflect ongoing cash flow. A 30-year concession renewal reduces uncertainty over the asset base over the long term and makes the investment program easier to plan.

market impact

CEMIG shares: strong operating growth and concession renewal support the company's outlook

• ▲CEMIG shares pressure up — rising recurring EBITDA and the concession renewal improve the company's outlook

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