SABESP ANNOUNCES 2Q23 RESULTS
SAO PAULO, SAO PAULO, BRAZIL, August 10, 2023/EINPresswire.com/ -- Companhia de Saneamento Básico do Estado de São Paulo - SABESP (B3: SBSP3; NYSE: SBS), one of the largest water and sewage services providers in the world based on the number of customers, announces today its second quarter of 2023 results.
In 2Q23, adjusted EBITDA totaled R$ 2,220.8 million, up by R$ 710.9 million (+47.1%) over the R$ 1,509.9 million reported in 2Q22, excluding the effects of the Incentivized Dismissal Program - IDP. Consequently, the EBITDA margin adjusted to the IDP reached 36.1% compared to 28.7%, and the adjusted EBITDA margin (excluding both the IDP and the construction revenue) reached 45.4% compared to 36.7%.
Including the effects of the IDP, adjusted EBITDA totaled R$ 1,691.2 million, up by R$ 181.3 million (+12.0%) over the R$ 1,509.9 million reported in 2Q22.
Excluding the provision for the IDP, net income came to R$ 1,273.3 million in 2Q23, up by R$ 850.9 million (+201%). Including the effect of the IDP, net income came to R$ 743.7 million in 2Q23, compared to the R$ 422.4 million reported in 2Q22, an increase of R$ 321.3 million (+76.1%).
The complete version of the release is available at the Company’s website: ri.sabesp.com.br/en/
In 2Q23, adjusted EBITDA totaled R$ 2,220.8 million, up by R$ 710.9 million (+47.1%) over the R$ 1,509.9 million reported in 2Q22, excluding the effects of the Incentivized Dismissal Program - IDP. Consequently, the EBITDA margin adjusted to the IDP reached 36.1% compared to 28.7%, and the adjusted EBITDA margin (excluding both the IDP and the construction revenue) reached 45.4% compared to 36.7%.
Including the effects of the IDP, adjusted EBITDA totaled R$ 1,691.2 million, up by R$ 181.3 million (+12.0%) over the R$ 1,509.9 million reported in 2Q22.
Excluding the provision for the IDP, net income came to R$ 1,273.3 million in 2Q23, up by R$ 850.9 million (+201%). Including the effect of the IDP, net income came to R$ 743.7 million in 2Q23, compared to the R$ 422.4 million reported in 2Q22, an increase of R$ 321.3 million (+76.1%).
The complete version of the release is available at the Company’s website: ri.sabesp.com.br/en/
Angela Beatriz Airoldi
SABESP
+55 11 3388-8793
abairoldi@sabesp.com.br
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