Conference Call
1Q14 Results
May/2014
Economic-Financial Office and Investor Relations Office
Notice
This presentation may contain forward-looking statements referring to
SABESP’s business outlook. operating and financial results estimates. and growth
prospects. These are only projections. and as such. they are exclusively based
on SABESP’s management expectation in relation to the future of business and its
continuous access to capital to finance the Company’s business plan. These
forward-looking statements largely depend on changes in market conditions.
governmental rules. industry performance and the Brazilian economy. amongst
other factors. in addition to risks exhibited in disclosure documents filed by
SABESP. Therefore. they are subject to changes without prior notice.
2
Billed Volume
Total water and sewage billed volume, including wholesale (million m³)
5.2%
968.7
923.9
Sewage
5.5%
389.2
Water
4.9%
Produced Water Volume
410.7
529.1
554.9
1Q13
1Q14
Billed Water Volume
762.0
554.9
778.0
529.1
1Q13
1Q14
1Q13
1Q14
3
Financial Highligts (R$ million)
2,792.0
Net Operating
Revenue
2,645.0
Costs, adm, selling
and construction
expenses
2,036.0
1,918.6
6.1%
0,4%
1,015.8
Adjusted EBITDA
921.5
10.2%
755.6
EBIT
Net Income
5.6%
726.3
4.0%
(3.7)%
38,9%
477.6
496.2
1Q14
1Q13
4
Costs and Expenses (R$ million)
Costs and expenses in 1Q13*: R$1,432.6
Costs and expenses in 1Q14*: R$1.515,5
7.6%
462
5.8%
*Not including construction costs
497
37.6%
33.3%
315
(3.3%)
229
6.3%
44 47
Payroll and
Benefits
Supplies
7.4%
(29.1%)
260
215
145 140
195
153
(60.7%)
65 70
Treatment
supplies
37
Services
Electric power
1Q13
General
Expenses
1Q14
Depreciation
and
Amortization
(50.9%)
40
15
Credit writeoffs
20
Tax expenses
% Net Revenue in 1Q13
17.5%
1.7%
% Net Revenue in 1Q14
17.8%
1.7%
2.5%
8.6%
5.5%
8.1%
7.4%
1.4%
1.5%
2.5%
11.3%
5.0%
5.5%
9.3%
0.5%
0.7%
5
Net Income – Main variations
147.0
(117.4)
(52.2)
496.2
0.2
1Q13
Net Income 1Q13
Net operating revenue
2,645.0
Costs and expenses
(1,918.6)
Other revenues and expenses
8.7
Net Financial
27.3
Income tax and social contribution
(266.2)
1Q14
2,792.0
(2,036.0)
(43.5)
27.5
(262.4)
Net Income 1Q14
Net Income
1Q13
N.O.R.
Costs and
Expenses
Other Rev.
and Expenses
3.8
477.6
Chg.
496.2
147.0
(117.4)
(52.2)
0.2
3.8
477.6
Net Financial
Income Tax
and Social
Contribution
Net Income
1Q14
6
Cantareira System (oct/13 apr/14)
Cantareira System
As of May 16, 2014
7
Technical Reserve
Entrance
30.5 m height
10 Floor
Building
Entrance
Depth
Discharge
Useful
Volume
Tunnel
Volume Available
PCJ
Rivers
Technical
Reserve
RMSP Supply
8
The Path of the Waters
Cantareira System
9
Bonus Program
Bonus Program
 20% water bill savings = 30% discount on water and sewage bill
Scope:
 Since February  consumers served by the Cantareira System
 Since April  all consumers directly served in the SPMR
Bonus Program Balance
Consumers served by the Cantareira System
In April
In March
Reached the
Bonus
Reduced
Consumption
Increased
Consumption
Reached the
Bonus
Reduced
Consumption
Increased
Consumption
10
www.sabesp.com.br
IR Contacts
Mario Azevedo de Arruda Sampaio
maasampaio@sabesp.com.br
(55 11) 3388-8664
Angela Beatriz Airoldi
abairoldi@sabesp.com.br
(55 11) 3388-8793