Companhia De Saneamento Basico Do Estado De Sao Paulo Sabesp · BMFBOVESPA:SBSP3
Companhia De Saneamento Basico Do Estado De Sao Paulo Sabesp — Sabesp — FY2011 Earnings Presentation
11 slides from Companhia De Saneamento Basico Do Estado De Sao Paulo Sabesp's earnings presentation, March 2012
Slide 1: Conference Call 2011 Results
Conference Call 2011 Results March/2012 Economic-Financial Office and Investor Relations Office
Slide 2: Notice
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
Slide 3: Billed Volume
Billed Volume Total water and sewage billed volume, including wholesale (million m³) 3.1% 3,426.6 3,531.3 2.8% 3.6% 1,434.3 1,486.3 874.3 898.5 3.4% Sewage 378.8 2.6% 366.3 Water 1,992.3 2,045.0 2.3% 519.7 508.0 4Q10 4Q11 2010 2011 Produced Water Volume Billed Water Volume Losses 750.7 519.7 26.2 74
Slide 4: Financial Highlights
Financial Highlights Net Operating 9,927.4 Revenue 9,230.4 7.6% 7,479.1 Costs and Expenses 6,558.4 14.0% 3,213.4 0.3% EBITDA 3,222.5 2,444.7 8.4% EBIT 2,670.3 1,223.4 25.0% Net Income 1,630.4 2011 2010 4
Slide 5: Costs and Expenses (R$ million)
Costs and Expenses (R$ million) Costs and Expenses in 2010: R$ 6,558.4 4.6% 14.0% Costs and Expenses in 2011: R$ 7,479.1 28.8% 2,177 2,081 1,804 1,401 2.5% 39.2% 970 994 9.9% 47.7% 769 584 656 531 (48.3%) 8.5% 13.3% 552 444 (3.0%) 155 233120 147 159 137 63 62 Payroll and Construction Supplies Treatm
Slide 6: Net Income – Main variations
Net Income – Main variations Net Income N.O.R. Costs and Other Rev. Net Financial Income Tax Net Income 2010 Expenses and Expenses and Social 2011 Contribution 697.1 (920.7) 1,630.4 (94.0) (254.1) 164.7 1,223.4 2010 2011 Var. Net Income - 2010 1,630.4 Net Operating Revenue 9,230.4 9,927.4 697.0 Cost
Slide 7: Long term low cost funding
Long term low, cost funding Total Debt Breakdown Total Debt by Currency Currency Outros 0,6% Basket(*) 3,4% B Brasil 9,9% JICA 11,5% Yen 11,5% BIRD 0,2% BID 13,7% CEF 18,2% US Dollar 21,4% Local Currency 63,8% Eurobônus 10,9% BNDES 12,7% Debêntures 22,3% (*) Index that measures the variations of the
Slide 8: Sabesp’s Tariff x Sanitation Companies
Sabesp’s Tariff x Sanitation Companies REGULAR COMMERCIAL Comparison between bills with 10 m³/months water consumption 80 72.17 67.95 70 Lowest tariff in Regular Commercial 60 55.40 47.80 50 46.60 45.30 45.00 43.10 43.10 41.93 41.80 38.07 37.85 37.35 36.95 40 36.07 35.80 34.10 33.10 32.60 32.51 32.5
Slide 9: Sabesp’s Tariff x Sanitation Companies
Sabesp’s Tariff x Sanitation Companies REGULAR RESIDENTIAL Comparison between bills with 10 m³/months water consumption 60 50.53 50 6th Lowest Tariff 40 Regular Residential 28.90 30 25.79 24.52 24.02 24.00 21.70 21.60 21.48 21.23 20.93 20.70 20.50 18.97 18.40 18.15 20 17.00 15.65 15.16 14.75 14.00 1
Slide 10: New Tariff Methodology
New Tariff Methodology Volume (M3) BRRT = BRR0 + ∑(CAPEX+∆ WC-DEP) BRR0 CAPEX + OPEX + Taxes + ∆ WC P0 IRR = WACC From To 18-May-2011 ARSESP disclosed WACC at 8.06% 16-Jan-2012 ARSESP released the Methodology for Sabesp’s Tariff Revision Process 29-Feb-2012 to Public hearings to discuss the Tariff
Slide 11: www.sabesp.com.br
www.sabesp.com.br IR Contacts Mario Azevedo de Arruda Sampaio Angela Beatriz Airoldi maasampaio@sabesp.com.br abairoldi@sabesp.com.br +55 (11) 3388-8664 +55 (11) 3388-8793