SABESP's Net Income Grows 34.6% in 2007
SAO PAULO, Brazil, March 28 /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 2007.
In 2007, net operating revenue totaled R$ 6.0 billion, an 8.0% increase compared to 2006. Costs and expenses stood at R$ 3.9 billion, 4.6% higher than in 2006. EBITDA moved up by 10.3%, from R$ 2.4 billion in 2006 to R$ 2.7 billion in 2007 as revenues outgrew costs. Earnings before financial expenses (EBIT) climbed by 15.1%, from R$ 1.8 billion in 2006 to R$ 2.1 billion in 2007. Net income reached R$ 1.05 billion, 34.6% higher than the R$ 778.9 million recorded in 2006. In the 4Q07, net income totaled R$ 78.1 million, down by 2.4% the same period of the previous year.
Gross operating revenue grew by R$ 464.2 million, or 7.8%, from R$ 6.0 billion in 2006 to R$ 6.4 billion in 2007. The main reasons for this increase were: (i) the 5.7% impact derived from the 6.7% tariff readjustment in 2006, with a 4.7% impact in 2007, and the 4.1% tariff readjustment in September 2007, with a 1% impact in the period; and (ii) the 3.1% increase in billed volume. The complete version of the release is available at the Company's website: www.sabesp.com.br Conference Calls English: April 2, 2008 Portuguese: April 2, 2008 Live webcast available on www.sabesp.com.br IR Contacts:
CONTACT: Mario Arruda Sampaio, 55 11 3388-8664, Web site: http://www.sabesp.com.br/
2008-03-28 22:52:57 0322544 PRNEWSWIRE
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