Revenue rose 14.6% year-over-year to R$12.86 billion, driven by higher volumes sold (+11%) and new transmission assets such as the Asa Branca project. Energy sales volume in 4Q25 reached 4,867 MW average, a 12.3% rise, while the year’s average was 4,559 MW, up 11%. Conversely, the average net sale price per MWh declined 6.3% in the quarter and 3.4% for the year, reflecting pricing pressures. Client base expansion supported sales, with a 24% increase in customers and 34% growth in consumer units.
Investments totaled R$6 billion in 2025, including the acquisitions of Santo Antônio do Jari and Cachoeira Caldeirão hydro plants (adding 612 MW), and bringing the Serra do Assuruá wind farm (846 MW) and Assú Sol solar plant (895 MWp) fully online. With these expansions, the installed capacity reached 10,685 MW, operating 133 plants, mostly renewable. The net debt rose 26.8% to R$25.5 billion, reflecting the investment cycle.
Engie’s board approved dividends of R$557.8 million relating to 2025, bringing total distributions to R$1.377 billion, equivalent to a 55% payout ratio of adjusted net income and a 4.2% dividend yield. CFO Pierre Leblanc confirmed the payout percentage is expected to remain stable throughout 2026 to preserve financial flexibility for growth opportunities. Following the earnings release, Engie Brasil shares fluctuated downward, reflecting caution amid earnings contraction despite operational strengths.
This article was curated and published as part of our South American energy market coverage.
