Energy generation: 70%
Natural gas production: 20%
Renewable energies: 10%

TOP 3 markets:

1. Brazil: 85%
2. Argentina: 10%
3. Chile: 5%

Eneva S.A. generates the majority of its revenue from energy generation, with Brazil being the dominant market. The company has a strong presence in the domestic market, reflected in a high revenue share of 85%. In recent years, Eneva has also expanded its activities in Argentina and Chile, leading to a more diversified revenue mix.

Production sites of Eneva S.A.:

Eneva S.A. is a Brazilian energy company specializing in the generation and distribution of electricity. The company operates several thermal power plants in Brazil, particularly in the states of Maranhão, Ceará, and Roraima. These power plants mainly use natural gas and coal for electricity generation.

In addition, Eneva is engaged in the exploration and production of natural gas, particularly in the Parnaíba region in Maranhão, where the company holds significant gas reserves. This strategic integration of gas production and electricity generation enables Eneva to operate more efficiently and cost-effectively.

Revenue Growth: Estimated 10-12% annually (2025)

Investments in Renewable Energies: 500 million BRL (2025)

Eneva S.A. pursues a growth strategy that strongly focuses on diversifying its energy portfolio. The company plans to significantly increase its share of renewable energies to meet the growing demand for sustainable energy sources.

A key part of this strategy is investing in new technologies and infrastructure to enhance the efficiency and capacity of its existing facilities. Furthermore, Eneva aims to expand its market presence both nationally and internationally through strategic partnerships and acquisitions.

The focus on renewable energies and technological innovations is seen as key to achieving stable revenue growth in the coming years.

Main raw materials: Natural gas, coal

Countries of origin:

• Natural gas: Mainly from Brazil itself, but also imports from Bolivia.
• Coal: Imported from Colombia and South Africa.

Eneva S.A. is an integrated energy company in Brazil that specializes in electricity generation and operation of thermal power plants. The main raw material for energy generation is natural gas, sourced from both domestic supplies and imports from Bolivia. In addition, coal is imported from Colombia and South Africa to ensure supply security and operation of the thermal power plants. This diversification of raw material sources helps Eneva to reduce dependence on a single supplier and optimize operating costs.

Market share: 10% (estimated, 2025)
EBITDA margin: 35% (2024)
Capacity expansion: 20% (planned by 2026)

Eneva S.A. has established itself in recent years as one of the leading energy providers in Brazil. The estimated market share of 10% in 2025 demonstrates a solid position in the Brazilian energy market, characterized by high demand and growing investments in renewable energy.

The EBITDA margin of 35% in 2024 indicates an efficient cost structure and strong profitability. This margin is above average compared to many competitors in the energy sector, suggesting a significant competitive advantage.

Furthermore, Eneva plans a capacity expansion of 20% by 2026, which has the potential to further increase market share and strengthen its competitive position. This expansion is supported by strategic investments in new technologies and infrastructure projects aimed at improving the company's efficiency and sustainability.

Institutional Investor Share: approx. 60% (estimated for 2025 based on historical data)

Insider Purchases/Sales: No specific data available for 2025

The institutional investor share at Eneva S.A. traditionally stands at around 60%, indicating the trust of large investors in the company's long-term strategy. These investors particularly value the stable cash flows and strategic positioning in the energy sector.

Specific data on insider purchases or sales for 2025 are not available at this time. In the past, Eneva has occasionally reported insider transactions, which are often seen as an indicator of management's confidence in the company's future development. It is advisable to consult the official reports and publications of BOVESPA for the latest information.

Market Share Eneva S.A.: 12% (2025, estimated)

Top Competitors and Their Market Shares:

1. Engie Brasil Energia S.A.: 18%
2. Itaúsa S.A.: 15%
3. Eneva S.A.: 12%
4. Eletrobras (Centrais Elétricas Brasileiras S.A.): 10%
5. Neoenergia S.A.: 9%
6. CPFL Energia S.A.: 8%
7. AES Brasil Energia S.A.: 7%
8. Light S.A.: 6%
9. Equatorial Energia S.A.: 5%
10. Cemig (Companhia Energética de Minas Gerais): 4%

Moat of Eneva S.A.:

Eneva S.A. has a moderate moat, mainly supported by its vertical integration and diversification in energy generation. The company operates in both thermal energy and the exploration and production of natural gas, providing a certain level of independence from external energy sources.

Compared to its competitors like Engie Brasil Energia and Itaúsa, which have larger financial resources and a broader geographical presence, Eneva's moat is less pronounced. For example, Engie Brasil has a stronger focus on renewable energy, which presents a strategic advantage in the current global energy transition.

Eneva could strengthen its moat through investments in renewable energy and technological innovations to better compete with the larger and more diversified companies. Currently, some of the competing companies, especially Engie Brasil, have a stronger moat due to their market leadership and sustainable energy initiatives.

Revenue Growth: 8.5% (2024) EBITDA Margin: 42% (2024) Debt Ratio: 1.8 (2024)

Eneva S.A. recorded a revenue growth of 8.5% in 2024, indicating stable demand for energy and efficient operational management. The EBITDA margin of 42% shows that the company is able to effectively manage its costs and achieve high profitability.

The debt ratio of 1.8 is moderate and suggests that Eneva S.A. has good control over its debts, reducing financial risk for investors.

Additionally, in recent years, Eneva S.A. has invested in expanding its capacities and renewable energies, which could further increase its future growth potential. These strategic investments could position the company well in a changing energy industry.

Overall, these factors indicate that Eneva S.A. could be a solid investment, especially for investors interested in long-term growth.

Dividend Yield: 3.5% (2024)

Eneva S.A. paid out a dividend yield of 3.5% in 2024. The company has regularly paid dividends in recent years, indicating a certain reliability in its payouts.

However, the stability of dividend payments depends on several factors, including the financial health of the company and market conditions. Eneva has demonstrated in the past its ability to generate stable earnings, which increases the likelihood of a continuous dividend payment. Analysts are also monitoring developments in the energy sector that could impact the company's future dividend policy.