SABESP’s Net Revenue Grows 4.5% in 2Q08
SAO PAULO, Brazil, Aug. 8 /PRNewswire-FirstCall/ — Companhia de Saneamento Basico do Estado de Sao Paulo — SABESP (Bovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service providers in the world based on the number of customers, announces today its results for 2Q08.
In 2Q08, net operating revenue totaled R$ 1.5 billion, a 4.5% increase compared to 2Q07. Costs and expenses stood at R$ 1,032.2 million, 10.4% higher than in 2Q07. EBITDA moved from R$ 671.3 million in 2Q07 to R$ 636.0 million in 2Q08, a 5.3% drop.
Earnings before financial expenses (EBIT) dropped 6.1%, from R$ 512.5 million in 2Q07 to R$ 481.1 million in this quarter.
In 2Q08, gross operating revenue grew R$ 63.6 million, or 4.1%, from R$ 1,563.7 million in 2Q07 to R$ 1,627.3 million in 2Q08. The main reasons for this increase were: (i) The 4.1% tariff adjustment as of September 2007; and (ii) The 1.9% increase in billed water and sewage volume, 1.4% of which corresponded to the retail segment and 6.0% to wholesale.
The complete version of the release is available at the Company’s website: http://www.sabesp.com.br/
Conference Calls - August 12, 2008 English: 3:30 PM - US EST Dial in access: 1 412 858-4600 Conference ID: Sabesp Portuguese: 1:00 PM - US EST Dial in access: 55 11 2188-0188 Conference ID: Sabesp Replay available until August 18, 2008 English: Dial in access: 1 412 317-0088 Conference ID: 6097# Portuguese: Dial in access: +55 11 2188-0188 Conference ID: Sabesp Live webcast available on http://www.sabesp.com.br/
Companhia de Saneamento Basico do Estado de Sao Paulo
CONTACT: Mario Arruda Sampaio, +55-11-3388-8664,email@example.com, or Angela Beatriz Airoldi, +55-11-3388-8793,firstname.lastname@example.org
Web site: http://www.sabesp.com.br/