SABESP Announces its 4Q11 and 2011 Results
SAO PAULO, March 23, 2012 /PRNewswire/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage services providers in the world based in the number of customers, announces today its results for the fourth quarter 2011 (4Q11) and full year 2011 results.
In 2011, net operating revenue reached R$ 9.9 billion, a 7.6% growth compared to the previous year. Costs and expenses, including construction costs, in the amount of R$ 7.5 billion grew 14.0% over 2010. EBIT dropped 8.4%, from R$ 2.7 billion in 2010 to R$ 2.4 billion in 2011. EBITDA remained stable at R$ 3.2 billion between 2010 and 2011. The EBITDA margin was 32.4% in 2011 in comparison to 34.9% in the previous year. Excluding construction revenues and construction costs, the EBITDA margin was 41.1% in 2011 (44.7% in 2010).
The Company's net income was R$ 1.2 billion, a 25.0% drop compared to 2010, mainly due to the currency exchange variation over foreign loans and financing, in the amount of R$ 448.5 million due to the 12.6% appreciation of the U.S. dollar in 2011, compared to the 4.3% depreciation in 2010.
The complete version of the release is available at the Company's website: www.sabesp.com.br
Conference call – March 27, 2012
10:00 am (US EST)
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Conference ID: Sabesp
Live webcast at: www.sabesp.com.br