Aegea 3Q profit more than doubles from year ago

Monday, November 17, 2014

Brazilian sanitation firm Aegea, of the Equipav group, posted a net profit of 32.6mn reais (US$12.5mn) in the third quarter, up 106% year-on-year from 15.8mn reais.

In the same comparison, net revenue increased 27.2% to 157mn reais from 124mn reais, and Ebitda rose 48.4% to 84mn reais from 56.6mn reais, according to the company's latest earnings results.

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Overall costs were up 8% to 83.9mn, the report said.

Much of the uptick was due to a 13.2% increase in billed water volumes to 45.5Mm3. While potable water volume increased 14.6% to 27.3Mm3, wastewater volume was up 11.2% to 18.3Mm3.

Of the company's five subsidiaries, Águas Guariroba came in first in terms of gross revenue, accounting for 54% of the group's total, followed by Prolagos, Xingu, Mirante and Entrantes.