SABESP Announces 2Q20 Results

Sabesp (B3: SBSP3; NYSE: SBS) reported its 2Q20 results on August 14, 2020.

Rhea-AI Summary

Sabesp (B3: SBSP3; NYSE: SBS) reported its 2Q20 results on August 14, 2020. The company achieved a 10.9% increase in net operating revenue, totaling R$4,432.5 million, compared to the previous year. Adjusted EBIT rose by 34.2% to R$1,082.9 million, while adjusted EBITDA increased by 28.4% to R$1,581.4 million. The adjusted EBITDA margin improved to 35.7% from 30.8% in 2Q19. However, net income declined to R$378.2 million from R$454.4 million in the same quarter last year.

Positive

• Net operating revenue increased by 10.9% to R$4,432.5 million.
• Adjusted EBIT rose by 34.2% to R$1,082.9 million.
• Adjusted EBITDA grew by 28.4% to R$1,581.4 million.
• Adjusted EBITDA margin improved to 35.7% from 30.8% in 2Q19.

Negative

• Net income decreased to R$378.2 million from R$454.4 million in 2Q19.

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SÃO PAULO, Aug. 14, 2020 /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 second quarter 2020 results.

In 2Q20, net operating revenue, which considers construction revenue, totaled R$4,432.5 million, a growth of 10.9% over the same period of last year.

Costs and expenses, which consider construction costs, totaled R$3,352.6 million, up 4.9% over 2019.

Adjusted EBIT totaled R$1,082.9 million, up 34.2% from the R$807.1 million recorded in 2Q19.

Adjusted EBITDA, in the amount of R$1,581.4 million, increased 28.4% when compared to the R$1,231.6 million reported in 2Q19 (R$7,799.4 million in the last 12 months).

Adjusted EBITDA margin in 2Q20 was 35.7%, against 30.8% in 2Q19 (42.0% in the last 12 months).

Excluding the effects of revenue and construction costs, adjusted EBITDA margin resulted in 45.7% in 2Q20, over 36.7% in 2Q19 (50.2% in the last 12 months).

In 2Q20, the Company recorded a net income of R$378.2 million, compared to R$454.4 million in 2Q19.

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 (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-2q20-results-301112377.html

SOURCE Sabesp

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Sabesp's revenues in 2Q20?

Sabesp reported net operating revenue of R$4,432.5 million in 2Q20.

How did Sabesp's adjusted EBIT perform in 2Q20?

Adjusted EBIT increased by 34.2% to R$1,082.9 million in 2Q20.

What was the adjusted EBITDA margin for Sabesp in 2Q20?

The adjusted EBITDA margin for Sabesp in 2Q20 was 35.7%.

What was the change in net income for Sabesp in 2Q20?

Net income for Sabesp fell to R$378.2 million in 2Q20, down from R$454.4 million in 2Q19.