SABESP Announces 2020 Results

SABESP (B3: SBSP3; NYSE: SBS) reported its financial results for Q4 and the entire year of 2020.

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Rhea-AI Summary

SABESP (B3: SBSP3; NYSE: SBS) reported its financial results for Q4 and the entire year of 2020. The company achieved a net income of R$ 973.3 million, significantly down from R$ 3,367.5 million in 2019. Adjusted EBITDA also saw a decline, totaling R$ 6,421.8 million, a 14.5% decrease compared to R$ 7,510.5 million in the previous year. These results indicate considerable challenges faced by the company amidst financial pressures.

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Negative

Net income decreased to R$ 973.3 million from R$ 3,367.5 million in 2019.
Adjusted EBITDA fell by 14.5% to R$ 6,421.8 million from R$ 7,510.5 million in 2019.

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03/26/2021 - 12:09 AM EDT

SAO PAULO, March 26, 2021 /PRNewswire/ -- 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 fourth quarter and 2020 results.

In 2020, the Company recorded net income of R$ 973.3 million, compared to net income of R$ 3,367.5 million in 2019.

Adjusted EBITDA totaled R$ 6,421.8 million, down 14.5% from the R$ 7,510.5 million recorded in 2019.

The complete version of the release is available at the Company's website: ri.sabesp.com.br

IR Contacts:
Mario Arruda Sampaio: (55 11) 3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi: (55 11) 3388-8793 (abairoldi@sabesp.com.br)

View original content:http://www.prnewswire.com/news-releases/sabesp-announces-2020-results-301256528.html

SOURCE Sabesp

FAQ

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What were SABESP's net income results for 2020?

SABESP reported a net income of R$ 973.3 million for 2020, down from R$ 3,367.5 million in 2019.

How much did SABESP's adjusted EBITDA decline in 2020?

SABESP's adjusted EBITDA decreased by 14.5% in 2020, totaling R$ 6,421.8 million compared to R$ 7,510.5 million in 2019.

What are the implications of SABESP's financial results for investors?

SABESP's substantial decline in net income and adjusted EBITDA may raise concerns among investors about the company's financial health.

How do SABESP's 2020 results compare to previous years?

The 2020 results show a significant decline in both net income and adjusted EBITDA compared to 2019, indicating operational challenges.

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