Sabesp (SBSP3) reported a 10.2% increase in net profit for the first quarter of 2024 compared to the same period in 2023, reaching R$ 823 million. The adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of the sanitation company grew by 19.4%, totaling R$ 2.43 billion.
As a result of this performance, the Ebitda margin reached 37%, compared to 35.7% in the previous quarter, while the adjusted Ebitda margin (excluding construction revenue) reached 46.5%, compared to 45.0%.
On the other hand, net operating revenue, including construction revenue, increased by 15.1% compared to the previous year, totaling R$ 6.56 billion, while the gross operating revenue related to sanitation services, excluding construction revenue, reached R$ 5.66 billion, representing an increase of 15.3%.
Three days ago, the decision of the President of the São Paulo Court of Justice, Fernando Antonio Torres Garcia, to accept the appeal presented by the São Paulo City Council and overturn the injunction that suspended the privatization vote outcome of Sabesp was announced.
The suspension of the injunction, maintained until the completion of the process, validates both the approval of the bill and the mayor Ricardo Nunes’ sanction. The President of the City Council, Milton Leite, reaffirmed that all legal procedures were followed in the approval of the project, including public hearings and necessary studies.
Sabesp (SBSP3)
The Company
Sabesp, or the Basic Sanitation Company of the State of São Paulo, is a Brazilian state-owned company responsible for providing basic sanitation services in the state of São Paulo. Founded in 1973, Sabesp is one of the largest sanitation companies in the world in terms of population served.
Its main services include the supply of drinking water, sewage collection and treatment, as well as water resource management and conservation projects. The company serves not only urban areas but also rural and peri-urban regions, contributing to the improvement of the quality of life and public health of the population.
