Business

Sabesp (SBSP3) profits 96.4% more in the 1st quarter, with appreciation of the real

Sabesp (SBSP3) recorded a net income of R$ 975.6 million in the first quarter of this year, representing an increase of 96.4% compared to the same period last year.

The result was benefited by the appreciation of the real against foreign currencies, in this case the dollar and the yen, currencies with which the company has contracted debt.

Thus, the debt in foreign currency had a decrease of R$ 731.8 million, to R$ 2.603 billion. In the comparison between the periods, the dollar lost 15.1% against the real and the yen 19.5%.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 5.2% to R$1.721 billion, with a margin of 35.3% (up 0.3 percentage point) .

In the first quarter, net operating revenue, including construction revenue, totaled R$4.870 billion, an increase of 4.1%.

Meanwhile, Sabesp’s costs and expenses, considering construction, totaled R$ 3.744 billion, a decrease of 4.3%.

More about Sabesp results

Sabesp’s gross operating revenue related to the provision of sanitation services, without construction revenue, reached R$ 4.298 billion, an increase of 9.2%.

This was due to the average tariff readjustment of 7.0% since May 2021; increase in the average tariff with an increase in the volume billed in the commercial and public categories; and 0.4% reduction in total billed volume.

Billed volume (water and sewage) fell by 0.8% in the residential segment and 4.4% in the industrial segment, but increased by 1.2% in the commercial segment and 13.2% in the public segment.

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