SAO PAULO, Aug. 11, 2011 /PRNewswire/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage services providers in the world based in the number of customers, announces today its results for the second quarter 2011.
In 2Q11, net operating revenue reached R$ 2.3 billion, a 3.0% growth compared to 2Q10. Costs and expenses, including construction costs, in the amount of R$ 1.7 billion grew 4.2% versus 2Q10. EBIT dropped by 0.8%, from R$ 603.8 million in 2Q10 to R$ 599.2 million in 2Q11. EBITDA was R$ 752.5 million in 2Q10 and R$ 775.4 million in 2Q11, an increase of 3.0%, with EBITDA margin stable at 33.1%.
Gross operating revenue, including construction revenue, reached R$ 2.5 billion, a 3.2% increase in comparison to the 2Q10.
Gross operating revenue from water supply and sewage collection recorded grew from R$ 1.9 billion in 2Q10 to R$ 2.0 billion in 2Q11, an increase of R$ 120.8 million or 6.5%. The main factors that led to this variation were: the increase of 2.7% in water billed volume and of 3.7% in sewage billed volume and the tariff adjustment of 4.05% as of September 2010.The main factors that contributed to higher billed volume were: the increase in the number of connections, the growth in the consumption in the industry category due to a better economic scenario, and the new firm demand contracts. The complete version of the release is available at the Company's website: www.sabesp.com.br Conference call – August 17, 2011 in Portuguese 01:00 pm (US EST)Dial-in access: 55 (11) 3127-4971Conference ID: Sabesp in English 03:00 pm (US EST)Dial-in access: 1(412) 317-6776Conference ID: Sabesp Live webcast at: www.sabesp.com.br IR Contacts: Mario Arruda Sampaio: (55 11) 3388-8664 ( firstname.lastname@example.org) Angela Beatriz Airoldi: (55 11) 3388-8793 ( email@example.com) SOURCE Sabesp