With a focus on continuous improvement in service quality, Neoenergia recorded CAPEX of R$ 2.2 billion in 1Q25, of which R$ 1.3 billion was allocated to the distribution segment.

The company maintained tight control of operating expenses, which rose 3% year-over-year, absorbing both inflation and market growth.

Neoenergia released its financial and operational results for the first quarter of 2025 this Tuesday. The company reported EBITDA of R$ 3.7 billion, a 6% increase compared to the same period last year. Total energy injected, including distributed generation, grew 3.6%, reaching 22,903 GWh, driven by an expanded customer base.

The first quarter was also marked by cost discipline, ensuring controlled operating expenses with a 3% increase year-over-year, despite inflation and market expansion. Focused on continuously enhancing service quality across its five distributors – Neoenergia Brasília (DF), Neoenergia Coelba (BA), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS), and Neoenergia Pernambuco (PE) – the company closed the quarter with R$ 2.2 billion in CAPEX, including R$ 1.3 billion in the distribution segment, of which R$ 910 million was dedicated to grid expansion.

“We remain committed to delivering high-quality service to our customers, confident in our strategy of sustainable growth. We continue to meet the goals of our investment plan while maintaining strict cost discipline and advancing our asset rotation strategy to create value for shareholders,” said Eduardo Capelastegui, CEO of Neoenergia.

In April, Neoenergia announced the sale of 50% of its stake in the Itabapoana transmission line to GIC. The transaction is valued at R$ 127.5 million, subject to customary adjustments until closing. The asset will be contributed to Neoenergia Transmissão, the group’s investment vehicle for the transmission segment, which has included GIC as a 50% partner since April 2023. Once the transaction is complete, the ownership structure will remain unchanged: 50% Neoenergia and 50% GIC.

Cash EBITDA and Net Income
Cash EBITDA reached R$ 2.8 billion in the quarter, in line with the same period last year, due to the negative tariff adjustments on the “Parcel B” component for distributors recorded in 2024, and changes to the Termopernambuco contract. Neoenergia closed the first quarter with net income of R$ 1 billion.

Renewables
Wind and solar generation totaled 1,033 GWh in 1Q25, a 23% increase over 1Q24, driven by stronger wind conditions. Hydropower generation reached 2,801 GWh, a 25% increase year-over-year due to higher inflows.

Customers
The five distribution companies closed the first quarter with 16.7 million active customers, an increase of 294 thousand compared to the same period in 2024.

Losses
The measures implemented by Neoenergia, combined with future tariff coverage that incorporates the impacts of distributed generation, support a trend of continuous improvement across the distributors. Neoenergia Cosern and Neoenergia Elektro closed the quarter below their regulatory loss limits, while Neoenergia Brasília and Neoenergia Coelba