SÃO PAULO, May 13, 2021 : 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.