Sabesp Announces 2Q21 Results

Rhea-AI Summary

SABESP (B3: SBSP3; NYSE: SBS) reported a net income of R$ 773.1 million for 2Q21, up from R$ 378.2 million in 2Q20. The net operating revenue reached R$ 4,595.9 million, a 3.7% increase year-over-year. However, total costs and expenses rose by 10.4% to R$ 3,700.0 million. Adjusted EBITDA fell by 8.1% to R$ 1,453.2 million, with an adjusted EBITDA margin of 31.6%, down from 35.7% in 2Q20. Excluding construction effects, the margin was 40.0%, down from 45.7% a year earlier.

Positive

• Net income increased from R$ 378.2 million to R$ 773.1 million year-over-year.
• Net operating revenue rose by 3.7% to R$ 4,595.9 million.

Negative

• Total costs and expenses increased by 10.4% to R$ 3,700.0 million.
• Adjusted EBITDA decreased by 8.1% to R$ 1,453.2 million.
• Adjusted EBITDA margin fell from 35.7% to 31.6% year-over-year.

SÃO PAULO, Aug. 12, 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 second quarter of 2021 results.

The Company recorded a net income of R$ 773.1 million in 2Q21, compared to R$ 378.2 million in 2Q20.

The net operating revenue, which considers construction revenue, totaled R$ 4,595.9 million in 2Q21, up by 3.7% over 2Q20.

Costs and expenses, which consider construction costs, totaled R$ 3,700.0 million, up by 10.4% over 2Q20.

Adjusted EBITDA, of R$ 1,453.2 million, fell by 8.1% from the R$ 1,581.4 million recorded in 2Q20 (R$ 6,446.1 million in the last 12 months).

Adjusted EBITDA margin reached 31.6% in 2Q21, compared to 35.7% in 2Q20 (34.7% in the last 12 months).

Excluding the effects of revenue and construction costs, the adjusted EBITDA margin reached 40.0% in 2Q21, compared to 45.7% in 2Q20 (44.2% in the last 12 months).

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)
Juliana P. S. Jardim: (55 11) 3388-9267 (jpsjardim@sabesp.com.br)

 

View original content:https://www.prnewswire.com/news-releases/sabesp-announces-2q21-results-301354816.html

SOURCE Sabesp

FAQ

What were SABESP's net income results for 2Q21?

SABESP reported a net income of R$ 773.1 million for 2Q21.

How did SABESP's operating revenue perform in the second quarter of 2021?

SABESP's net operating revenue was R$ 4,595.9 million in 2Q21, reflecting a 3.7% increase from 2Q20.

What was the adjusted EBITDA for SABESP in 2Q21?

SABESP's adjusted EBITDA for 2Q21 was R$ 1,453.2 million, an 8.1% decrease from the previous year.

How did SABESP's expenses change in 2Q21?

SABESP's total costs and expenses rose by 10.4% to R$ 3,700.0 million in 2Q21.

What was the adjusted EBITDA margin for SABESP in the second quarter of 2021?

The adjusted EBITDA margin for SABESP in 2Q21 was 31.6%, down from 35.7% in 2Q20.