By Brazil Stock Guide – Emae reported its highest profit on record, with results for the third quarter and for the first nine months of 2025 surpassing all comparable periods. According to figures released by the company, net income between January and September reached R$353.5 million, marking the strongest performance in its history and reflecting higher productivity, stronger operations and a favorable market backdrop.
The company said its nine-month profit rose 285.5% from a year earlier, supported by improved operational efficiency and better financial results. In the third quarter alone, Emae posted R$287.5 million in net income, boosted in part by compensation received from negotiations with Petrobras (PETR4.SA). Adjusted EBITDA climbed 55.1% year-over-year to R$167.2 million, with a 41.1% margin. While net revenue remained stable, costs and expenses fell 14.4%, helping consolidate the company’s financial strength. Emae closed September with R$495.3 million in cash and financial investments.
CEO Karla Maciel said the first full year under private management accelerated the company’s modernization. “The period marks our first complete year as a private company, and the results show a more modern, agile and innovative Emae,” she said. “This progress reflects disciplined management, planning and ongoing investment in technology and sustainability. There is still much ahead, but we are ready.”
Throughout the year, Emae expanded its modernization efforts, strengthened governance practices and increased its environmental commitments. The company secured approval in the New Energy Auction to build the Edgard de Souza small hydropower plant, with estimated investment of R$200 million. It also achieved a AAA national long-term rating from Fitch Ratings, placing it among the most solid Brazilian power companies. The Henry Borden plant reached 99.6% availability — one of the highest levels in recent years and well above the target of 89.87%.
Technological upgrades advanced with new automation systems aimed at reducing losses and increasing efficiency. Digital transformation also intensified, supported by artificial intelligence and data analytics to optimize operations. Environmental programs included the planting of 100,000 native trees along the Pinheiros River and the Billings Reservoir, reinforcing the company’s ESG strategy.
Karla said the company remains focused on expanding renewable generation and strengthening Brazil’s energy system. “Every initiative underscores our commitment to renewable sources and modern generation units, increasing reliability and safety for the national grid,” she said. “We are prepared to grow responsibly, combining innovation, profitability and environmental commitment, and continue delivering value to investors and society.”