Sabesp Announces 1Q21 Results

Rhea-AI Summary

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%.

Positive

• Net operating revenue increased by 15.7% to R$ 4,677.4 million.
• Adjusted EBIT rose by 9.4% to R$ 1,094.3 million.
• Adjusted EBITDA increased by 10.3% to R$ 1,636.4 million.
• Net income improved to R$ 496.9 million, reversing a loss of R$ 657.9 million in 1Q20.

Negative

• Adjusted EBITDA margin decreased to 35.0% from 36.7% in 1Q20.

SÃO PAULO, May 13, 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 first quarter of 2021 results.

In 1Q21, net operating revenue, which considers construction revenue, totaled R$ 4,677.4 million, up 15.7% over 1Q20.

Costs and expenses, which consider construction costs, totaled R$ 3,591.2 million, up 17.9% over 1Q20.

Adjusted EBIT totaled R$ 1,094.3 million, up 9.4% over the R$ 1,000.3 million recorded in 1Q20.

Adjusted EBITDA, in the amount of R$ 1,636.4 million, increased by 10.3% over the R$ 1,483.8 million reported in 1Q20 (R$ 6,574.3 million in the last 12 months).

The Adjusted EBITDA margin reached 35.0% in 1Q21, compared to 36.7% in 1Q20 (35.7% in the last 12 months).

Excluding the effects of revenue and construction costs, adjusted EBITDA margin reached 44.2% in 1Q21, compared to 41.8% in 1Q20 (45.6% in the last 12 months).

The Company recorded net income of R$ 496.9 million in 1Q21, compared to loss of R$ 657.9 million in 1Q20.

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)

 

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SOURCE Sabesp

FAQ

What were SABESP's 1Q21 financial results?

SABESP reported R$ 4,677.4 million in net operating revenue, R$ 1,094.3 million in adjusted EBIT, and R$ 1,636.4 million in adjusted EBITDA for 1Q21.

How did SABESP's net income change in 1Q21?

SABESP's net income improved to R$ 496.9 million in 1Q21 from a loss of R$ 657.9 million in 1Q20.

What was the change in SABESP's adjusted EBITDA margin in 1Q21?

The adjusted EBITDA margin decreased to 35.0% in 1Q21, compared to 36.7% in 1Q20.

Did SABESP see any growth in revenue in 1Q21?

Yes, SABESP's net operating revenue increased by 15.7% compared to 1Q20.