Companhia De Saneamento Basico SEC Filings

Companhia de Saneamento Básico do Estado de São Paulo – Sabesp reports that regulator ARSESP has approved a tariff adjustment for its water and sewage services. The resolution authorizes an average increase of 6.5% on the current rates charged to users, effective from January 1, 2026. According to Sabesp’s preliminary review, this corresponds to a 10.6% increase in its equilibrium rate, which is a benchmark level designed to balance revenues with operating and investment needs.

The company plans to provide further clarification on the main items behind this adjustment and has noted that ARSESP also published a technical note and an Excel model detailing the calculation. Sabesp states it will keep shareholders and the market informed about any additional developments related to this rate change.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP announced that the São Paulo State Public Services Regulatory Agency (ARSESP) has validated its Regulatory Asset Base (RAB) for 2023 and 2024. The company reports a validated 2023 RAB of R$ 78.5 billion at June 2024 values and a validated 2024 RAB of R$ 88.0 billion at December 2024 values. These figures reflect adjustments such as reclassifications, construction margin, interest differences between IFRS and regulatory criteria, one-off asset revaluations, write-offs, inflation effects and depreciation, as summarized in the table. Management notes that forward-looking statements about future performance and strategies are subject to risks and uncertainties that could cause actual results to differ materially from current expectations.

Sabesp (SBS) furnished 3Q25 results via Form 6‑K, showing steady operating progress alongside heavy investment. Reported net income was R$2,158.6 million with EPS of R$3.16, which reflects prior-year accounting effects from concession asset bifurcation. On a comparable basis, adjusted EPS was R$1.88, up from R$1.72 a year ago, and adjusted EBITDA rose about 15% year over year.

The company invested R$4.0 billion in the quarter and R$10.4 billion year to date, focused on universalization projects; active connections increased, supported by 148,000 new units versus 3Q24. Operating costs fell, with OPEX down 15% year over year to R$2,270 million, aided by lower electricity expenses, leaner headcount, and provision reversals. Net revenue was R$9,425 million, including construction revenue tied to concession works.

Balance sheet liquidity improved with cash and cash equivalents of R$4,969 million as of September 30, 2025. Borrowings and financings totaled R$34,926 million, equity was R$42,710 million, and net debt was R$23,276 million. Results also included effects from court‑ordered debt payments, with approvals totaling R$1,950 million and R$1,118 million received.

Sabesp (SBS) filed a 6-K reporting 3Q25 results. Adjusted earnings were R$1.88 per share, up from R$1.72 a year ago. Reported EPS was R$3.16 versus R$8.94 in 3Q24, with the prior year inflated by the concession “financial asset” bifurcation. Management cited a 15% year-over-year increase in adjusted EBITDA and continued progress on universalization.

Investment and operations accelerated. The company invested R$4.0 billion in the quarter (a record) and R$10.4 billion year-to-date, adding 148,000 new active connections. Adjusted net sanitation revenue was R$5,468 million, essentially flat year over year, as higher volumes were offset by customer mix and FAUSP effects. Operating expenses fell 15% to R$2,270 million on efficiency measures including lower electricity costs and G&A reductions.

Non-recurring items were material. Court-ordered debt payments (precatórios) totaled R$1.950 billion, with R$1.118 billion received; a R$1,461 million monetary adjustment boosted financial results. Operating cash flow was R$3.17 billion. The financial asset bifurcation that lifted 3Q24 also contributed R$154 million to gross revenue in 3Q25.

Sabesp (SBS) reports a pending legal dispute with Subcondominio Eldorado Business Tower over commercial charging schemes. The lower court dismissed Eldorado's claim and that decision became final; a repetitive-demand procedure (IRDR) was decided in Sabesp's favor. Eldorado has filed appeals to higher courts (STJ and STF) which remain pending. The company cannot reliably estimate the amount at stake and currently classifies the risk of loss as possible.

Companhia de Saneamento Básico do Estado de São Paulo (Sabesp) delivered a materially stronger quarter driven by tariff carryover, volume growth and improved efficiency. Revenue rose as construction activity expanded, producing consolidated net revenue of R$17,391 million year-to-date and R$8,965 million in the quarter. Reported net income for the quarter was R$2,136 million (EPS R$3.12), up from R$1,209 million (EPS R$1.77) a year earlier, and YTD net income reached R$3,618 million. Operating cash generation remained robust (net cash from operating activities ~R$4.28 billion), and cash and equivalents increased to R$4.561 billion. Investment accelerated sharply: R$3.601 billion in 2Q25 and R$6.452 billion in 1H25, supporting universalization and adding new connections. Balance sheet shows higher borrowings of R$31.28 billion and net debt of ~R$23.36 billion, with reported leverage of 37%. The company reported a R$104.3 million after-tax loss in OCI from hedges.

Sabesp reported strong quarterly results, with consolidated EPS of R$3.12 versus R$1.77 a year earlier, driven by higher tariffs, increased billed volume and lower operating costs. Net income rose to R$2,136 million (up 76.6%), EBITDA reached R$3,890 million (up 29.4%), and operating improvements included reductions in general and administrative expenses and a leaner workforce.

The company accelerated investments to R$3.6 billion in the quarter (R$6.45 billion YTD), added 161,000 connections versus 2Q24 and reported expanded access since privatization (over 1.3 million people with water access and 1.4 million with sewage treatment). Cash at period end was R$4,561 million and operating free cash flow was R$4,142,674 (R$ '000), while total assets increased to R$88,719,931 and total liabilities were R$48,275,810.