COMPANHIA DE SANEAMENTO BÁSICO DO ESTADO DE SÃO PAULO – SABESP officer Rafael Costa Strauch filed an initial Form 3 reporting holdings of restricted stock units. Each RSU represents one common share. One grant covers 6,291 underlying shares and another covers 6,095, with both vesting in equal installments from 2026 through 2030, subject to continued service.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP CEO Leone Piani Carlos Augusto filed an initial ownership report showing his equity interests. He holds 199,777 Restricted Stock Units, each representing the right to receive one Common Share, plus 2,877 Common Shares directly and 2,877 Common Shares indirectly through his spouse.
The RSUs were granted on April 29, 2025 and will vest in equal portions on May 1 of each year from 2026 through 2033, subject to his continued service as an officer of the company.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Chief Financial Officer Daniel Szlak filed an initial ownership report showing his equity-based compensation in restricted stock units (RSUs). Each RSU represents the right to receive one common share.
The filing lists two RSU grants. One grant covers 8,086 underlying common shares from awards granted on April 29, 2025, vesting in equal parts on May 1 of 2026, 2027, 2028 and 2029, subject to continued service. A second grant covers 7,830 underlying common shares from awards granted on December 19, 2025, vesting in equal parts on January 1 of 2027, 2028, 2029 and 2030, also subject to continued service as an officer.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP reported initial holdings for Chief Legal Officer Maria Alicia Lima Peralta on a Form 3. She holds restricted stock units (RSUs) convertible into 4,797 and 4,641 Common Shares, from grants dated April 29, 2025 and December 19, 2025. These RSUs vest in equal installments from May 1, 2026 through May 1, 2029, and from January 1, 2027 through January 1, 2030, subject to continued service.
COMPANHIA DE SANEAMENTO BÁSICO DO ESTADO DE SÃO PAULO – SABESP engineering officer Roberval Tavares de Sousa filed a Form 3 reporting holdings of restricted stock units (RSUs) linked to common shares. Each RSU gives the right to receive one common share if vesting conditions are met.
The filing lists RSUs covering 6,548 underlying common shares from a grant on April 29, 2025, vesting pro rata on May 1 of 2026, 2027, 2028 and 2029, subject to continued service. It also lists RSUs covering 6,344 underlying common shares from a December 19, 2025 grant, vesting pro rata on January 1 of 2027, 2028, 2029 and 2030, also subject to continued service. The Form 3 reflects compensation-related equity, not open-market buying or selling.
Sabesp reported strong 4Q25 and 2025 operating results alongside a major investment ramp-up. Adjusted earnings per share in 4Q25 rose to R$3.93 from R$2.10 a year earlier, supported by 3.0% volume growth, tariff gains and better collection.
Full-year 2025 Adj EBITDA reached R$13.2 bn, up 17% year over year, while adjusted net income was R$6.3 bn, a 22% increase. The company invested R$15.2 bn in 2025, more than double 2024, focused on expanding water and sewage services and meeting universalization targets.
In 4Q25, adjusted EBITDA was R$3.4 bn, 13% above 4Q24, with operating costs down 10% versus the prior year and headcount reduced 17%. Sabesp reports having brought water to 1.8 million people and sewage to 3.8 million people in 2024–25, while creating around 40,000 direct and indirect jobs.
Sabesp reported its first full year after privatization with modest revenue growth, solid profitability and a sharp ramp-up in investment. Net revenue reached R$ 37.6 billion in 2025, up 4% versus 2024. Reported net income was R$ 8.5 billion, 12% lower mainly because 2024 included a one-off gain from financial asset bifurcation; excluding this effect, adjusted net income was about R$ 6.3 billion, a 22% year-on-year increase.
The company invested R$ 15.2 billion in water and sewage infrastructure, 120% more than in 2024, supporting universalization targets and serving roughly 30 million water customers. Net debt rose to R$ 27.8 billion, but the net debt/adjusted EBITDA ratio ended at 2.2x and the leverage ratio at 40%, reflecting strong cash generation alongside R$ 18.7 billion in new debt issues.
Sabesp approved R$ 1.8 billion in Interest on Equity to shareholders, launched a share repurchase program of up to 6.9 million shares and ended 2025 with 3.6 million treasury shares. A R$ 2.81 billion capital increase via bonus shares lifted equity to R$ 42.4 billion, up 15% from 2024, while the workforce was reduced by 13% as part of efficiency initiatives.
Companhia de Saneamento Básico do Estado de São Paulo – Sabesp announced an agreement to acquire 100% of the quotas of Oceania Fundo de Investimento em Ações for R$ 171,637,858.05 in cash, payable on March 13, 2026, with no subsequent price adjustments.
Oceania’s only asset is 3,407,000 common shares of EMAE – Empresa Metropolitana de Águas e Energia S.A., representing 23.17% of EMAE’s common shares and 9.22% of its total share capital. The price is based on the public tender offer price of R$49.47 per EMAE share, adjusted by the SELIC rate to March 11, 2026, resulting in R$50.38 per share.
Companhia de Saneamento Básico do Estado de São Paulo – Sabesp approved its 38th issuance of simple, non-convertible, unsecured debentures, in up to five series, for public distribution to professional investors, totaling R$ 6,292,086,000.00 on the issue date. The debentures will be offered under Brazil’s automatic registration procedure, pursuant to CVM Resolution No. 160, and are restricted to professional investors under Resolution No. 30. The distribution will be conducted by financial institutions in the securities distribution system under a firm-commitment underwriting regime, meaning underwriters commit to place the full offering.
Companhia de Saneamento Básico do Estado de São Paulo – Sabesp reports that in 2025 it invested a preliminary, unaudited total of R$ 15.2 billion in water supply and sewage infrastructure. This amount is 2.2 times higher than the R$ 6,9 billion invested in 2024, with spending accelerating in the second half of 2025 and rising 36% compared to the first half of 2025.
The company states that these higher investments support its goal of achieving universal access to basic sanitation by 2029 for the population in the URAE-1 contract concession area.