SABESP Announces 2015 Results

SAO PAULO, March 25, 2016

In 2015, net operating revenue, including construction revenue, reached R$ 11.7 billion; a 4.4% increase compared to 2014.

Costs and expenses, including construction costs, totaled R$ 8.8 billion, 5.2% lower than the R$ 9.3 billion recorded in 2014.

Adjusted EBIT, in the amount of R$ 2.9 billion, grew 51.5% from R$ 1.9 billion recorded in the previous year.

Adjusted EBITDA, in the amount of R$ 4.0 billion, increased 36.2% from R$ 2.9 billion recorded in 2014.

The adjusted EBITDA margin was 33.9% in 2015, versus 26.0% in 2014. Excluding construction revenues and construction costs, the adjusted EBITDA margin was 46.6% in 2015 (34.4% in 2014).

In 2015 the Company recorded a net income of R$ 536.3 million, in comparison to a net income of R$ 903.0 million in 2014.