SABESP Announces 3Q21 Results

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (B3: SBSP3; NYSE: SBS) reported its third quarter 2021 results with a net operating revenue of R$ 5,153.9 million, a 16.1% increase year-over-year.

Rhea-AI Summary

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (B3: SBSP3; NYSE: SBS) reported its third quarter 2021 results with a net operating revenue of R$ 5,153.9 million, a 16.1% increase year-over-year. Costs and expenses rose by 13.8% to R$ 3,933.5 million. The adjusted EBIT grew 24.3% to R$ 1,224.4 million, while adjusted EBITDA increased by 18.2% to R$ 1,789.3 million. The net income reached R$ 468.6 million, compared to R$ 421.6 million in 3Q20.

Positive

• Net operating revenue increased by 16.1% to R$ 5,153.9 million.
• Adjusted EBIT rose by 24.3% to R$ 1,224.4 million.
• Adjusted EBITDA increased by 18.2% to R$ 1,789.3 million.
• Net income grew to R$ 468.6 million from R$ 421.6 million in 3Q20.

Negative

• Costs and expenses increased by 13.8% to R$ 3,933.5 million.

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SÃO PAULO, Nov. 11, 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 third quarter of 2021 results.

The net operating revenue, which considers construction revenue, totaled R$ 5,153.9 million in 3Q21, up by 16.1% over 3Q20.

Costs and expenses, which consider construction costs, totaled R$ 3,933.5 million, up by 13.8% over 3Q20.

Adjusted EBIT, of R$ 1,224.4 million, rose by 24.3% over the R$ 985.4 million recorded in 3Q20.

Adjusted EBITDA, of R$ 1,789.3 million, increased by 18.2% over the R$ 1,513.6 million recorded in 3Q20 (R$ 6,721.9 million in the last 12 months).

Adjusted EBITDA margin was 34.7% in 3Q21, compared to 34.1% in 3Q20 (34.8% in the last 12 months).

Excluding the effects of revenue and construction costs, the adjusted EBITDA margin was 44.4% in 3Q21, compared to 44.0% in 3Q20 (44.3% in the last 12 months).

The Company recorded a net income of R$ 468.6 million in 3Q21, compared to R$ 421.6 million in 3Q20.

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-3q21-results-301422730.html

SOURCE Sabesp

FAQ

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What are the third quarter 2021 results for SABESP (SBS)?

SABESP reported net operating revenue of R$ 5,153.9 million, up 16.1% from 3Q20, with net income of R$ 468.6 million.

How much did SABESP's adjusted EBITDA grow in 3Q21?

SABESP's adjusted EBITDA for 3Q21 increased by 18.2% to R$ 1,789.3 million.

What was the net income for SABESP in the third quarter of 2021?

SABESP's net income for 3Q21 was R$ 468.6 million, compared to R$ 421.6 million in 3Q20.

What were SABESP's costs and expenses in 3Q21?

In 3Q21, SABESP's costs and expenses totaled R$ 3,933.5 million, a 13.8% increase compared to 3Q20.