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2014 was a challenging year for the Brazilian power industry, with electricity consumption recording its lowest growth figure (2.2%) since 2009.
This was due to the drought the country began to experience during the year, putting a strain on hydroelectric assets, the backbone of its power generation industry, and cranking up prices for wholesale electricity.
So Cemig managed to do well on the top line, recording a nearly 34% jump in net revenue to 19.5 billion reals ($6.4 billion) and a 9% increase in adjusted net profit to 3.1 billion reals ($1.0 billion).
The current situation will likely worsen, as reservoir levels are rapidly dwindling to levels too low to keep turbines operating. So the entire industry is scrambling to diversify into other sources of power generation, chiefly renewables like solar.
Cemig is no exception; at the moment, it currently has around 730 megawatts of generation capacity under construction or contracted. That's small when matched against its end-2014 total capacity of over 7,700, but the company has another 6,380 or so in development. Once past the current drought and its associated difficulties, this should help the company stay profitable in the long term, and keep cash coming in to power the dividend.
Cemig's most recently declared regular dividend amounted to nearly $0.07 per share. That yields almost 4% on the current price of the company's American Depositary Receipts.
[ 本帖最後由 chenleon1 於 2015-6-25 20:09 編輯 ]
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