SAO PAULO, March 27 /PRNewswire-FirstCall/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service providers in the world based on the number of customers, announces today its results for the 4Q08 and fiscal year 2008.
In 2008, net operating revenue totaled R$ 6.4 billion, a 6.4% increase compared to 2007. Costs and expenses, stood at R$ 4.1 billion, 6.2% higher than in the previous year. EBITDA grew 5.2%, from R$ 2.7 billion in 2007 to R$ 2.8 billion in 2008.
Earnings before financial expenses (EBIT) increased 6.7%, from R$ 2.1 billion in 2007 to R$ 2.2 billion in 2008.
In 2008, gross operating revenue grew R$ 390.6 million, or 6.1%, from R$ 6.4 billion in 2007 to R$ 6.8 billion in 2008. The main reasons for this increase were: the 4.3% average increase in 2008 tariffs in comparison to 2007, due to tariff adjustments; and the 2.0% growth in billed water and sewage volume, 1.8% of which corresponded to retail and 4.4% to wholesale.
The complete version of the release is available at the Company's website: http://www.sabesp.com.br/
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