Brazil · Delayed Price · Currency is BRL Companhia de Saneamento de Minas Gerais Earnings Call Transcripts
Fiscal Year 2025
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Record CapEx and robust financial growth in 2025, with net revenue up 5.6% and EBITDA up 5.7% year-over-year. Strategic focus on privatization, regulatory stability, and efficiency, with a BRL 21 billion CapEx plan for 2026–2030 and improved ESG recognition.
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Q3 2025 saw strong CapEx growth, robust cash flow, and stable EBITDA margin, with progress in privatization and regulatory improvements. Investments and efficiency initiatives are on track, supporting universalization and future expansion.
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Q2 2025 saw modest revenue growth and a drop in net income due to lower water consumption and higher depreciation, but strong cash generation and investments continued. Operational efficiency improved, with record-low default rates and better loss control, while robust dividend payouts and a solid capital structure support future growth.
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Record Q1 2025 results featured all-time high EBITDA, robust cash generation, and a Fitch AAA rating. Aggressive investment plans and efficiency initiatives support growth, while leverage and dividend policies are balanced to sustain future expansion.
Fiscal Year 2024
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Record CapEx and robust investment plans drove strong operational and financial results in 2024, with high dividend yield, improved coverage, and international ESG recognition. Regulatory changes and capital structure reviews are underway, with a focus on efficiency and sustainable growth.
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Q3 2024 saw 9.6% revenue growth and 13.6% higher EBITDA, driven by tariff adjustments and efficiency gains. Net income rose 9.3% year-over-year, with robust CapEx and ongoing regulatory negotiations to support future growth and mitigate risks.
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Q2 2024 saw net revenue rise 10.7% and net income jump 30.4% year-over-year, driven by tariff adjustments, higher volumes, and cost efficiencies. Investments surged 33.2% in H1, while leverage and profit reserves increased to support a BRL 9.8 billion five-year plan.