Aegea Saneamento registers 57.2% growth in net revenue, which reaches R$384.3 million in the third quarter of 2017
EBITDA grows 90.1% to reach R$214.6 million
SAO PAULO, Nov. 8, 2017 /PRNewswire/ -- Aegea Saneamento's results in the third quarter of 2017 were driven by new concessions added to the portfolio and better operating performance by existing concessions. During the period, 699,000 new clients were added to the Company's client base, which reached 2.2 million, with billed volume growing 40.7%.
The highlight among new concessions is the startup of the full sub-concession in Teresina, with an estimated population of 850,000, which is equivalent to the Águas de Guariroba concession that currently accounts for 37.8% of the Company's revenue.
In the same period, the Company continued to focus on increasing its operating efficiency, which reflected in the 9.6 p.p. increase in EBITDA margin, which reached 55.8%. Among the indicators that underline the productivity gain in operations are the 18.5% reduction in electricity costs per cubic meter, the 0.5% decrease in defaults and the 1.0 p.p. reduction in water distribution losses at existing concessionaires.
Other financial highlights in the period include the Company's debut in the international capital markets through a US$400 million bond issue and the R$655 million debenture issue in the domestic market through the concessionaires Nascentes do Xingu, Águas Guariroba and Prolagos.
"The funds raised in the capital markets during the period underscore the Company's credibility in the international market and the sound reputation it enjoys among investors," said Aegea CFO, Flávio Crivellari.
The Company's performance was recognized through several awards. For the second time, Aegea Saneamento received the "Be Inspired Award", the premier international award in engineering, for the 2041 Sewage Master Plan developed for the concessionaire Prolagos. It was also elected the best private company in the water and sewage sector for the 3rd consecutive year by the Época Negócios 360o yearbook in partnership with Fundação Dom Cabral. It was also adjudged one of the 100 most impacting companies in its sector, in terms of size and performance, according to the Empresas Mais ranking, based on a study by the O Estado de São Paulo newspaper, Austin Rating and FIA. Aegea was also mentioned as one of the most innovative companies in Brazil, being the only private company in the segment to feature in the ranking published by the Valor Inovação Brasil 2017 yearbook.
About Aegea
Aegea Saneamento is a Brazilian company that manages sanitation assets through concessionaires in several Brazilian states and manages public concessions. It serves around 5.4 million people in 48 cities across 10 Brazilian states. Created in 2010, Aegea is the second largest company in the sector, with 23.6% share of the private sanitation market in Brazil.
Media relations:
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SOURCE Aegea
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