Brazil's Sabesp sees Q4 profits drop on higher costs
São Paulo state water utility Sabesp posted a 35% reduction in its net profit in 4Q17, amid an increase in its costs during the period.
The company's net profit totaled 613mn reais (US$184mn) in the quarter, down from 947mn reais in the same three months of 2016.
Sabesp's general costs and expenses were up 8.5% in the period to 2.04bn reais. Meanwhile, the company's net revenues rose 3.4% to 4.02bn reais in the fourth quarter.
CAPEX
Company investments totaled 3.4bn reais in the quarter, including 866mn reais related to the São Lourenço public-private partnership, still reflecting the priority given to water supply infrastructure.
For the 2018-2022 period, Sabesp plans to invest approximately 17.3bn reais, of which 7.1bn reais will go to water and 10.2bn reais to in sewage collection and treatment.
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