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In this paper, a phenomenological energy-based material model for ferromagnetic materials under harmonic conditions is presented. The model is based on the concept of a complex effective permeability and an accurate representation of energy is adopted as identification criteria. The material model is implemented in a time-harmonic finite element model, which allows to solve for the loss characteristics of electromagnetic devices. Identification is based on measured hysteresis loops and no additional fitting parameters are required. Hysteresis losses in a ferromagnetic C-core and a ferromagnetic torus are simulated and compared to the results obtained by means of tabulated loss characteristics.