Conference Call
2Q14 Results
August/2014
Economic-Financial Office and Investor Relations Office
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 business and its
continuous access to capital to finance the Company’s business plan. These
forward-looking statements largely depend on changes in market conditions.
governmental rules. industry performance and the Brazilian economy. amongst
other factors. in addition to risks exhibited in disclosure documents filed by
SABESP. Therefore. they are subject to changes without prior notice.
2
Billed Volume
Total water and sewage billed volume, including wholesale (million m³)
1.7%
(1.8)%
389.6
Water
525.5
2Q13
1,863.8
898.3
915.1
Sewage
1,833.3
(0.6)%
(2.8)%
387.3
2.5%
797.8
778.7
1.1%
511.0
1,054.6
1,066.0
2Q14
1H13
1H14
Produced Water Volume
Billed Water Volume
752.0
710.0
2Q13
2Q14
525.5
2Q13
511.0
2Q14
3
Financial Highligts (R$ million)
2,754.1
Net operating
revenue
2,796.3
Costs, adm. exp.,
selling and
construction
2,315.0
2,081.5
Net income
11.2%
0,4%
(27.4)%
661.7
Adjusted EBITDA
EBIT
(1.5)%
911.4
10,2%
(38.6)%
439.1
714.7
4,0%
(16.4)%
38,9%
302.4
361.7
2Q14
2Q13
4
Costs and Expenses (R$ million)
Costs and expenses in 2Q13*: R$1,438.3
Costs and expenses in 2Q14*: R$1,650.8
12.1%
551
14.8%
*Not including construction costs
492
19.1%
352
295
2.0%
13.2%
8.6%
186 190
(5.1)%
49 47
Payroll and
Benefits
Supplies
17.0%
223
197
227.7%
133 145
62
55 65
12 18
19
Treatment
supplies
49.2%
Services
Electric power
2Q13
General
Expenses
2Q14
Depreciation
and
Amortization
Credit writeoffs
Tax expenses
% Net Revenue in 2Q13
17.6%
1.8%
% Net Revenue in 2Q14
20.0%
1.7%
2.0%
10.6%
4.8%
6.7%
7.0%
0.7%
0.4%
2.3%
12.8%
5.2%
6.9.5%
8.1%
2.2%
0.6%
5
Net Income – Main variations
361.7
(42.2)
(233.5)
26.9
185.7
302.4
3.8
2Q13
Net Income 2Q13
Net operating revenue
2,796.3
Costs and expenses
(2,081.5)
Other revenues and expenses
1.4
Net Financial
(207.3)
Income tax and social contribution
(147.2)
2Q14
2,754.1
(2,315.0)
5.2
(21.6)
(120.3)
Net Income 2Q14
Net Income
2Q13
N.O.R.
Costs and
Expenses
Other Rev.
and Expenses
Chg.
361.7
(42.2)
(233.5)
3.8
185.7
26.9
302.4
Net Financial
Income Tax
and Social
Contribution
Net Income
2Q14
6
Reservoirs levels
CANTAREIRA SYSTEM (%)
JAN
FEB
22,2 16,4
MAR APR MAY JUN
13,4
JUL
ALTO TIETÊ SYSTEM (%)
AUG
JAN
10,7 24,9 20,6 15,4 13,2
FEB
44,7 38,8
MAR APR MAY JUN
37,3
JUL
AUG
36,0 30,8 26,0 20,8 18,2
RIO CLARO SYSTEM (%)
ALTO COTIA SYSTEM (%)
JAN
JAN
FEB
63,2 55,8
MAR APR MAY JUN
56,8
JUL
JAN
GUARAPIRANGA SYSTEM (%)
FEB
67,2 66,7
MAR APR MAY JUN
77,0
98,7 93,0
RIO GRANDE SYSTEM (%)
50,6 48,4 46,7 43,0 40,5
JAN
FEB
MAR APR MAY JUN
JUL
AUG
AUG
JUL
FEB
92,7 94,3
MAR APR MAY JUN
94,6
JUL
96,6
101
102
99,0 83,0 84,4
AUG
95,8 94,2 92,0 86,0 83,7
AUG
77,9 74,3 71,8 65,0 61,2
7
The Path of the Waters
Cantareira System
19.7 m³/s
PCJ Water Basin
Alto Tietê Water Basin
Measures taken by the Company due to the compulsory reduction of water withdrawal from the
PCJ Water Basin to Cantareira from 33m ³/s to 19.7 m³/s:
 Bonus Program: 20% reduction in water consumption  30% discount on water and sewage bill
 Use of Alto Tietê, Guarapiranga, Rio Claro and Rio Grande water systems  more than 2.3 million people prior served
by the Cantareira Systems
 Partial use of the Technical Reserve  286.5 billion liters
8
Cantareira System – Rainfall (mm)
mm
300.0
250.0
105%
200.0
150.0
93%
59%
100.0
33%
96%
35%
28%
81%
45%
50.0
52%
28%
0.0
Média Histórica
Historical average
Oct-13
Oct-13
132.6
132.6
Nov-13
Nov-13 Dec-13
Dec-13
163.8
226.8
163.8
226.8
Jan-14
Jan-14
265.9
Feb-14
Feb-14
206.5
Mar-14
Mar-14
184.1
Apr-14
Apr-14
89.2
May-14
May-14
83.2
Jun-14
Jun-14
56.0
Jul-14
Jul-14
49.9
Aug-14
Aug-14 Sep-14
Sep-14
36.9
91.9
Minima Histórica
21.4
52.4
104.5
111.8
265.9
206.5
184.1
89.2
83.2
8.8
0.0
56.0
49.9
0.0
0.1
0.9
Historical low
2013/14
21.4
123.4
52.4
97.0
104.5
62.9
111.8
87.8
40.2
73.0
55.8
193.3
7.6
85.7
8.8
37.3
0.0
15.8
0.0
40.4
0.1
5.3
0.9
2013/14
123.4
97.0
62.9
87.8
73.0
193.3
85.7
37.3
15.8
40.4
19.2
40.2
55.8
7.6
36.9
91.9
Up to August 18, 2014
9
Cantareira System – Water inflow
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Média Histórica
Historical average
Mínima Histórica
Historical low
2013/14
Oct
outubro
30.6
30.6
14.0
14.0
25.1
Nov
Dec
novembro
dezembro
35.0
53.1
35.0
53.1
14.0
21.8
14.0
21.8
22.1
22.5
Jan
janeiro
70.9
70.9
26.9
26.9
15.4
Feb
fevereiro
73.9
73.9
27.6
27.6
10.5
Mar
março
66.9
66.9
28.1
28.1
18.9
Apr
abril
48.4
48.4
24.7
24.7
17.2
May
maio
38.4
38.4
19.9
19.9
10.1
Jun
junho
35.3
35.3
16.5
16.5
10.0
Jul
julho
28.8
28.8
13.9
13.9
6.4
Aug
agosto
24.5
24.5
12.0
12.0
7.7
Sep
setembro
25.6
25.6
11.8
11.8
1953 2013/14
17.5
25.1
26.0
22.1
31.5
22.5
26.9
15.4
34.5
10.5
29.8
18.9
34.6
17.2
23.8
10.1
20.7
10.0
17.6
6.4
16.3
8.3
16.2
1953
17.5
26.0
31.5
26.9
34.5
29.8
34.6
23.8
20.7
17.6
16.3
16.2
Affluence between January and August 18/14
¼ of the historical average
10
December
November
October
September
August
July
June
May
April
March
February
January
Temperature - 2013/2014
TEMPERATURES
11
Cantareira’s Active Storage Capacity and Technical Reserve
100%
Active storage
Capacity
982.7 billion liters
SPMR
0%
182.5 billion liters
Authorized use
+ 106.0 billion liters
Technical
Reserve
286.5 billion liters
510.9 billion liters
Campinas
12
Bonus Program
Bonus Program
 20% water bill savings = 30% discount on water and sewage bill
Scope:
 Since February  consumers served by the Cantareira System
 Since April  all consumers directly served in the SPMR
 Since May  12 municipalities served by Sabesp in the Piracicaba, Capivari
and Jaguari Water Basin
SPMR - Bonus Program Balance
52%
52%
46%
45%
31%
Reduced consumption and reached the bonus
24%
28% 26%
27%
26%
21%
Reduced consumption but not the bonus
22%
Increased consumption
Up to August 11, 2014
mai
jun
jul
ago
13
www.sabesp.com.br
IR Contacts
Mario Azevedo de Arruda Sampaio
[email protected]
(55 11) 3388-8664
Angela Beatriz Airoldi
[email protected]
(55 11) 3388-8793
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Desafios e Oportunidades no setor de saneamento: a visão Sabesp