SABESP Announces 3Q14 Results
Nov 13, 2014, 07:04 ET
SAO PAULO, Nov. 13, 2014 /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 3Q14.
In 3Q14, net operating revenue, including construction revenue, reached R$ 2.8 billion; a 1.8% increase compared to the same period of 2013.
Costs and expenses, including construction costs, totaled R$ 2.3 billion, up 19.7% on the R$ 1.9 billion recorded in 3Q13.
EBIT, in the amount of R$ 499.2 million, dropped 40.1% from R$ 833.6 million in 3Q13.
Adjusted EBITDA, in the amount of R$ 742.4 million, dropped 28.8% from R$ 1,042.0 million in 3Q13 (R$ 2,419.9 million in the last 9 months and R$ 3,551.7 million in the last 12 months).
The adjusted EBITDA margin was 26.3% in 3Q14, versus the 37.6% in 3Q13 (28.9% in the last 9 months and 31.0% in the last 12 months). Excluding construction revenues and construction costs, the adjusted EBITDA margin was 35.8% in 3Q14 (46,4% in 3Q13, 37.4% in the last 9 months and 40.1% in the last 12 months).
Net income totaled R$ 91.5 million, 80.7% lower than the R$ 475.0 million recorded in 3Q13.
The complete version of the release is available at the Company's website: www.sabesp.com.br
IR Contacts:
Mario Arruda Sampaio: (55 11) 3388-8664 ([email protected])
Angela Beatriz Airoldi: (55 11) 3388-8793 ([email protected])
SOURCE SABESP