Caixa EBITDA reaches R$2.8 billion in 3Q25, up 13% on 3Q24

With a focus on continuous improvement in services, the company recorded CAPEX of R$ 7.6 billion in 9M25, of which R$ 4.8 billion in distribution

On Monday (27), Neoenergia announced its financial and operating results for the third quarter and the period from January to September 2025. Profits amounted to R$924 million in the third quarter and R$3.6 billion in the first nine months of the year, an increase of 10% and 28%, respectively, compared to the same periods in 2024.

Cash EBITDA

Cash EBITDA reached R$2.8 billion in the third quarter and R$8.2 billion in the first nine months of the year, up 13% and 6% on the same periods in 2024, respectively. The positive variation was mainly due to the annual readjustments of the distributors' manageable costs (portion B) and controlled expenses.

The results for the period show that Neoenergia is following the strategy of maintaining controlled operating expenses, which amounted to around R$1.1 billion in the third quarter and R$3.2 billion in the year to date, an increase of 5.6% and 4.3%, respectively. This performance is below inflation, confirming the cost discipline that allows the company to absorb market growth.

CAPEX

In the year to September, Neoenergia achieved R$7.6 billion in Capex, of which R$4.8 billion was concentrated in distribution, which represents 31% more investment in this business compared to the same period last year. This result is directly linked to the company's commitment to the continuous improvement of services at its five distribution companies - Neoenergia Brasília (DF), Neoenergia Coelba (BA), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Pernambuco (PE). The funds were invested mainly in network expansion, maintenance and modernization. Considering the third quarter, Neoenergia's Capex reached R$2.6 billion.

"We remain determined to guarantee robust investments in our distributors, ensuring organic growth with operational quality to increasingly improve services and customer care for our 17 million customers. We also remain attentive to opportunities for asset rotation with value generation, maintaining sustainable growth and cost discipline," said Eduardo Capelastegui, CEO of Neoenergia.

Extension of Neoenergia Pernambuco's concession until 2060

In September, Neoenergia Pernambuco became the group's first distributor to obtain an early extension of its concession contract from the Ministry of Mines and Energy (MME), free of charge, for a period of 30 years from March 30, 2030 to March 30, 2060.

Closing of the LT Itabapoana stake sale

In August, Neoenergia announced that it had closed the sale of 50% of its stake in the Itabapoana transmission line to GIC. The value of the transaction was R$127.5 million (with a base date of September 30, 2024). The asset was invested in the holding company Neoenergia Transmissão, the group's investment vehicle in this segment, which has already had a 50% stake in GIC since April 2023. With the closing of the operation, the structure remains the same, with 50% held by Neoenergia and 50% by GIC.

Increased stake in UHE Corumbá III

In October, Neoenergia announced that it had increased its stake in the Corumbá III hydroelectric plant by acquiring lot D of CELGPAR's special auction, which comprises 37.5% of the share capital of ECIII, which owns 40% of the Corumbá III Entrepreneur Consortium. After closing the transaction, Neoenergia will hold an 85% stake in the plant.

Abradee Award: Neoenergia has the best distributors in the country

Neoenergia set a record by winning eight trophies at the Abradee 2025 Awards. Neoenergia Cosern (RN) was elected, for the second time, the best distributor in Brazil and, for the seventh time, the best in the Northeast. Neoenergia Elektro (SP/MS) was recognized as the best utility in the Southeast. In an unprecedented achievement for the Federal District's electricity sector, Neoenergia Brasília won first place in the Performance Evolution category.

Energy performance

Total injected energy, including distributed generation, rose by 2.3% to 21,283 GWh in the third quarter, and by 2.9% to 66,243 GWh in the year-to-date. These results were influenced by the increase in the customer base which compensated for the lower temperatures in the periods.

Transmission

Neoenergia invested around R$2.7 billion in the year to date, entirely dedicated to the final construction of the lines and substations of the lots acquired in auctions. The company will complete the transmission investment cycle by the end of 2025.

Losses

In terms of total losses, three of the five distributors are within the regulatory limit.

Quality

In terms of quality, the five distributors were within the regulatory limits for DEC (Equivalent Interruption Duration per Consumer) and FEC (Equivalent Interruption Frequency per Consumer).