SAO PAULO, Brazil, May 16 /PRNewswire-FirstCall/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (Bovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service providers in the world based on the number of customers, announces today its results for 1Q08.
In 1Q08, net operating revenue totaled R$ 1.5 billion, a 5.2% increase compared to 1Q07. Costs and expenses stood at R$ 915.9 million, 2.1% higher than in 1Q07. EBITDA moved up 7.3% from R$ 721.4 million in 1Q07 to R$ 774.3 million in 1Q08, as revenues outgrew costs.
Earnings before financial expenses (EBIT) increased by 10.0%, from R$ 567.3 million in 1Q07 to R$ 624.2 million in 1Q08.
In 1Q08, gross operating revenue grew R$ 75.4 million, or 4.8%, from R$ 1,583.2 million in 1Q07 to R$ 1,658.6 million in 1Q08. The main reasons for this increase were: (i) the 4.1% tariff adjustment as of September 2007; and (ii) the 1.3% increase in billed volume, of which 0.7% in retail and 6.7% in wholesale.
The complete version of the release is available at the Company's website: www.sabesp.com.br
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SOURCE SABESP
55.71 (0.41%)
