Welcome to our dedicated page for COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S news (Ticker: SBS), a resource for investors and traders seeking the latest updates and insights on COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S's position in the market.
On June 24, 2021, Companhia de Saneamento Básico do Estado de São Paulo – Sabesp announced the election of Mr. Osvaldo Garcia as Chief Financial Officer and Investor Relations Officer, effective July 1, 2021. Mr. Garcia brings extensive experience, having previously held prominent roles including Chairman of Metrô São Paulo and Chief Executive Officer at Caixa Participações S/A. His background also includes significant positions in various public works and environmental sanitation sectors, highlighting his expertise in water infrastructure management.
On June 10, 2021, Sabesp announced the approval of its 28th issuance of simple, unsecured, non-convertible debentures totaling R$ 1.2 billion. The issuance, to be conducted in up to three series, aims to refinance maturing financial commitments in 2021 and improve cash position. The offering will target professional investors, with a maximum of 75 being approached, and the actual subscription limited to 50. The issuance is contingent upon at least R$ 1 billion being raised.
SABESP (B3: SBSP3; NYSE: SBS) reported its 1Q21 financial results, highlighting a significant 15.7% increase in net operating revenue, totaling R$ 4,677.4 million, compared to 1Q20. Adjusted EBIT rose by 9.4% to R$ 1,094.3 million, while adjusted EBITDA increased by 10.3% to R$ 1,636.4 million. The company also shifted from a net loss of R$ 657.9 million in 1Q20 to a net income of R$ 496.9 million in 1Q21. However, the adjusted EBITDA margin declined to 35.0%.
Sabesp announced it will not acquire a stake in the SPV created for the concession of Block 2 of CEDAE, following an auction won by Iguá Saneamento S.A. This decision comes after a review of the auction's final terms. The company had previously indicated interest but ultimately opted out.
On May 2, 2021, Sabesp announced that it will not partner with Iguá Saneamento S.A., the winner of the auction for block 2 of CEDAE's concession held on April 30, 2021. However, Sabesp has a memorandum of understanding allowing it an option to join the SPV that holds this concession with a minority position. This option entails no cost to Sabesp, except for necessary capitalizations by shareholders to meet future obligations should it choose to exercise this option. Sabesp commits to keeping the market updated on this matter.
Sabesp announced the approval of R$ 271,968,576.88 (R$ 0.3979 per share) as interest on own capital for the year ending December 2020. This payment will be made to shareholders registered as of April 29, 2021, on June 28, 2021. The interest will contribute to the mandatory minimum dividend calculation, in line with company bylaws and Brazilian law. Shareholders must ensure proper documentation to avoid withholding income tax, with ex-interest shares trading starting April 30, 2021.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE: SBS) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC. The 2020 Annual Report is accessible on both the SEC's website and SABESP's Investor Relations website. Shareholders can also request a hard copy of the report free of charge by contacting Investor Relations via email.
Sabesp announced compliance with local regulations regarding tariff revisions. This follows prior announcements concerning the Maximum Average Tariff (P0) and X Factor through public consultation. The São Paulo State Public Services Regulatory Agency (ARSESP) published Resolution No. 1.150/2021, which details these tariff calculations and necessary reports. Investors can access the full resolution and technical notes via ARSESP's website. Detailed documentation includes a Tariff Rate Simulator and various circumstantial reports regarding the proposed tariff structure revision.
SABESP (B3: SBSP3; NYSE: SBS) reported its financial results for Q4 and the entire year of 2020. The company achieved a net income of R$ 973.3 million, significantly down from R$ 3,367.5 million in 2019. Adjusted EBITDA also saw a decline, totaling R$ 6,421.8 million, a 14.5% decrease compared to R$ 7,510.5 million in the previous year. These results indicate considerable challenges faced by the company amidst financial pressures.
Sabesp announced an extension of measures to mitigate the economic impacts of COVID-19 on its commercial customers, extending the suspension of service cuts and debt renegotiation until April 30, 2021. Key features include debt renegotiation without fines, a 12-month installment plan, and no credit protection listing until the end of April. Customers will also be removed from credit protection registers after debt renegotiation. The company emphasizes its commitment to supporting customers during these challenging times.
FAQ
What is the current stock price of COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S (SBS)?
What is the market cap of COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S (SBS)?
