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Conference Call 2Q14 Results. August/2014. Economic-Financial Office and Investor Relations Office. Notice. - PowerPoint PPT Presentation
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August/2014
Conference Call2Q14 Results
Economic-Financial Office and Investor Relations OfficeEconomic-Financial Office and Investor Relations Office
2
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.
Notice
2Q13 2Q14
525.5 511.0
389.6 387.3Sewage
Water
1H13 1H14
1,054.6 1,066.0
778.7 797.8
Billed Volume
3
Total water and sewage billed volume, including wholesale (million m³)
915.1 898.3
(1.8)%
(0.6)%
(2.8)%
1,833.3 1,863.8
1.7%
2.5%
1.1%
752.0
710.0
2Q13 2Q14
Produced Water Volume
525.5511.0
2Q13 2Q14
Billed Water Volume
Financial Highligts (R$ million)
4
361.7
714.7
911.4
2,081.5
2,796.3
302.4
439.1
661.7
2,315.0
2,754.1
Net income
EBIT
Adjusted EBITDA
Costs, adm. exp.,selling and
construction
Net operatingrevenue
2Q14 2Q13
0,4%
4,0%
10,2%
38,9%
11.2%
(16.4)%
(1.5)%
(27.4)%
(38.6)%
Payroll andBenefits
Supplies Treatmentsupplies
Services Electric power GeneralExpenses
Depreciationand
Amortization
Credit write-offs
Tax expenses
492
49 55
295
133
186 197
19 12
551
47 65
352
145
190223
6218
2Q13 2Q14
5
Costs and Expenses (R$ million)
% Net Revenue in 2Q13
17.6% 1.8% 2.0% 10.6% 4.8% 6.7% 7.0% 0.7% 0.4%
% Net Revenue in 2Q1420.0% 1.7% 2.3% 12.8% 5.2% 6.9.5% 8.1% 2.2% 0.6%
14.8%
Costs and expenses in 2Q13*: R$1,438.3
Costs and expenses in 2Q14*: R$1,650.8
*Not including construction costs
13.2%
12.1%
(5.1)% 17.0%
19.1%
8.6%2.0%
49.2%227.7%
Net Income – Main variations
6
Net Income2Q13
N.O.R. Costs and Expenses
Other Rev. and Expenses
Net Financial Income Tax and Social
Contribution
Net Income2Q14
2Q13 2Q14 Chg.Net Income 2Q13 361.7
Net operating revenue 2,796.3 2,754.1 (42.2)Costs and expenses (2,081.5) (2,315.0) (233.5)Other revenues and expenses 1.4 5.2 3.8Net Financial (207.3) (21.6) 185.7Income tax and social contribution (147.2) (120.3) 26.9
Net Income 2Q14 302.4
302.4
(42.2)(233.5)
3.8
185.7 26.9
361.7
Reservoirs levels
7
CANTAREIRA SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
22.2 16.4 13.4 10.7 24.9 20.6 15.4 12.9
RIO GRANDE SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
92.7 94.3 94.6 95.8 94.2 92.0 86.0 83.7
ALTO COTIA SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
63.2 55.8 56.8 50.6 48.4 46.7 43.0 40.3
RIO CLARO SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
98.7 93.0 96.6 101 102 99.0 83.0 83.7
GUARAPIRANGA SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
67.2 66.7 77.0 77.9 74.3 71.8 65.0 61.0
ALTO TIETÊ SYSTEM (%)
JAN FEB MAR APR MAY JUN JUL AUG
44.7 38.8 37.3 36.0 30.8 26.0 20.8 17.9
8
The Path of the Waters
Cantareira System
PCJ Water Basin Alto Tietê Water Basin
19.7 m³/s
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
9
Cantareira System – Rainfall (mm)
25.0
75.0
125.0
175.0
225.0
275.0
93%
59%
28%
33%35%
105%
96%
45%
28%
81% 52%
mm
Up to August 18, 2014
Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
Historical average 132.6 163.8 226.8 265.9 206.5 184.1 89.2 83.2 56.0 49.9 36.9 91.9
Historical low 21.4 52.4 104.5 111.8 40.2 55.8 7.6 8.8 0.0 0.0 0.1 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
10
Cantareira System – Water inflow
outubro novembro dezembro janeiro fevereiro março abril maio junho julho agosto setembro
Média Histórica 30.6 35 53.1 70.9 73.9 66.9 48.4 38.4 35.3 28.8 24.5 25.6
Mínima Histórica 14 14 21.8 26.9 27.6 28.1 24.7 19.9 16.5 13.9 12 11.8
2013/14 25.1 22.1 22.5 15.4 10.5 18.9 17.2 10.1 10 6.4 7.7 NaN
1953 17.5 26 31.5 26.9 34.5 29.8 34.6 23.8 20.7 17.6 16.3 16.2
5.0
15.0
25.0
35.0
45.0
55.0
65.0
75.0
Affluence between January and August 18/14
¼ of the historical average
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Historical average 30.6 35.0 53.1 70.9 73.9 66.9 48.4 38.4 35.3 28.8 24.5 25.6
Historical low 14.0 14.0 21.8 26.9 27.6 28.1 24.7 19.9 16.5 13.9 12.0 11.8
2013/14 25.1 22.1 22.5 15.4 10.5 18.9 17.2 10.1 10.0 6.4 8.3
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
11
Temperature - 2013/2014
TEMPERATURESJa
nuar
y
Febr
uary
Mar
ch
April
May
June July
Augu
st
Sept
embe
r
Oct
ober
Nov
embe
r
Dec
embe
r
100%
0%
182.5 billion liters
SPMR
Campinas
Active storageCapacity
982.7 billion liters
Technical Reserve
510.9 billion liters
Cantareira’s Active Storage Capacity and Technical Reserve
12
+ 106.0 billion litersAuthorized use286.5 billion liters
13
Bonus Program
mai jun jul ago
45%52%
46%52%
31%27% 28% 26%24%
21%26%
22%Reduced consumption and reached the bonus
Reduced consumption but not the bonus
Increased consumption
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
Up to August 11, 2014
www.sabesp.com.br
IR Contacts
Mario Azevedo de Arruda Sampaio Angela Beatriz [email protected] [email protected](55 11) 3388-8664 (55 11) 3388-8793
