Companhia Energética de Minas Gerais (NYSE:CIG) Q4 2022 Earnings Call Transcript

Leonardo George de Magalhães: Well, that program is excellent for the company because we are bringing in new people, new talent, which is extremely important. These people have been in the company for a long time. I was practically born in the company. You have 25,000 employees right now. It’s not as much as it should be. When I joined the company, there were 18,000 companies, so employees joining us are usually at the beginning of their career. The company didn’t, doesn’t have benefits that it used to have benefits that were usually Cemig state owned companies. We no longer have those; we’re much closer to private company policies. But what we’re saying is that new employees cost practically half of what employees who are retiring used to cost us and it pays off in about eight months.

That’s important for the company and it’s important for our operating efficiency as well. It make that for us to continue to implement those programs in the future. Obviously when that will happen, depends on the company’s strategy. When those programs have been implemented, they’ve had very positive effects on our operating efficiency.

Carolina Senna: I think that’s it. Yes, thank you Leo. So with that, the morning session, you are all invited for lunch, which will be served at the Bela Hall room to my left. Analysts, investors and company officers will be to interact. We have serve tables for you and Cemig’s team will also be available to answer your questions. And we back at 2:30. Thank you and enjoy lunch.