Sabesp sees Q4 net income climb 12.7% to US$351mn

Wednesday, March 30, 2011

Brazil's São Paulo state utility Sabesp (Bovespa: SBSP3, NYSE: SBS) posted net income of 575mn reais (US$351mn) in 4Q10, rising 12.7% compared with 510mn reais in 4Q09.

Net operating revenue remained flat at 2.44bn reais, Sabesp said in a release.

Billed water volume in the quarter climbed 3.1% year-over-year to 508Mm3, while sewage volume was up 3.2% to 366Mm3.

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Ebitda inched back 1.1% to 856mn reais compared with 865mn reais in the prior-year period.

For full-year 2010, Sabesp's net income grew 8.1% to 1.63bn reais from 1.51bn reais in 2009.

Sabesp is Brazil's largest water company, serving more than 26mn clients in 366 cities and towns in São Paulo state.

For the firm's full results report, go to this link