SABESP ANNOUNCES 3Q23 RESULTS
SAO PAULO, SAO PAULO, BRAZIL, November 9, 2023 /EINPresswire.com/ -- 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 third quarter of 2023 results.
Adjusted EBITDA totaled R$ 2,414.0 million in 3Q23, up by R$ 277.8 million (+13.0%) over the R$ 2,136.2 million reported in 3Q22. Consequently, the adjusted EBITDA margin (excluding the construction revenue) reached 47.1% compared to the 46.1% reported in 3Q22.
Consolidated net income reached R$ 846.3 million in the quarter, declining by R$ 234.8 million or 21.7%.
Water supply and sewage services in the Municipality of Olímpia
On October 11, 2023, the Company signed a Concession Agreement to provide public water supply and sanitation services to the Municipality of Olímpia, after establishing SPE SABESP Olímpia S/A. On this date, the SPE started to assist the current service provider DAEMO (Department of Water and Sewage of the Municipality of Olímpia) during a period of 60 days, after which the entire operation will be transferred and carried out by SPE SABESP Olímpia, with the start of the Concession term.
There was no impact in results in 3Q23.
Revenue from sanitation services
Increase of R$ 527.0 million (+10.5%), impacted by: (i) a 9.6% tariff adjustment implemented since May 2023; (ii) a 3.5% increase in total billed volume; and (iii) a higher average tariff due to the increase in ranges with higher consumption in the residential category.
The complete version of the release is available at the Company’s website: ri.sabesp.com.br/en/
Adjusted EBITDA totaled R$ 2,414.0 million in 3Q23, up by R$ 277.8 million (+13.0%) over the R$ 2,136.2 million reported in 3Q22. Consequently, the adjusted EBITDA margin (excluding the construction revenue) reached 47.1% compared to the 46.1% reported in 3Q22.
Consolidated net income reached R$ 846.3 million in the quarter, declining by R$ 234.8 million or 21.7%.
Water supply and sewage services in the Municipality of Olímpia
On October 11, 2023, the Company signed a Concession Agreement to provide public water supply and sanitation services to the Municipality of Olímpia, after establishing SPE SABESP Olímpia S/A. On this date, the SPE started to assist the current service provider DAEMO (Department of Water and Sewage of the Municipality of Olímpia) during a period of 60 days, after which the entire operation will be transferred and carried out by SPE SABESP Olímpia, with the start of the Concession term.
There was no impact in results in 3Q23.
Revenue from sanitation services
Increase of R$ 527.0 million (+10.5%), impacted by: (i) a 9.6% tariff adjustment implemented since May 2023; (ii) a 3.5% increase in total billed volume; and (iii) a higher average tariff due to the increase in ranges with higher consumption in the residential category.
The complete version of the release is available at the Company’s website: ri.sabesp.com.br/en/
Contatos de RI
SABESP
+55 11 3388-8793
sabesp.ri@sabesp.com.br
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