SAO PAULO, March 22, 2013 /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 fourth quarter 2012 (4Q12) and full year 2012.
In 2012, net operating revenue reached R$ 10.7 billion, an 8.2% growth compared to 2011. Costs and expenses, including construction costs, in the amount of R$ 7.9 billion grew 5.2% over 2011. EBIT grew 17.3%, from R$ 2.4 billion in 2011 to R$ 2.9 billion in 2012. Adjusted EBITDA increased 12.2%, from R$ 3.2 billion in 2011 to R$ 3.6 billion in 2012. The adjusted EBITDA margin was 33.6% in 2012 in comparison to 32.4% in 2011. Excluding construction revenues and construction costs, the adjusted EBITDA margin was 43.0% in 2012 (41.1% in 2011).
Net income reached R$ 1.9 billion in 2012, 56.3% higher than in 2011.
Gross operating revenue from water supply and sewage collection grew from R$ 8.3 billion in 2011 to R$ 8.9 billion in 2012, an increase of R$ 621.7 million or 7.5%. The main factors that led to this variation were: the increase of 2.4% in water billed volume and of 3.2% in sewage billed volume, the Company's total increase in billed volume was of 2.7%, and the tariff adjustment of 6.83% since September 2011 and of 5.15% since September 2012.The complete version of the release is available at the Company's website: www.sabesp.com.br Conference call and Apimec Meeting – March 26, 2013