SAO PAOLO, March 6, 2018 /PRNewswire/ -- In the fourth quarter of 2017, Aegea Saneamento recorded a 54.8% growth in net revenue, reaching R$391.1 million, and an increase of 103% in EBITDA, in relation to the previous year, totaling R$161.8 million. This result, reflected in the increase of 3.7 percentage points in the EBITDA margin, is due to the evolution of the existing concessionaires' performance and the consolidation of new concessions' results, especially the beginning of operations of Aegea in the municipalities of Teresina in the State of Piauí, and Vila Velha and Serra, both in the State of Espírito Santo.
In the period, 612.4 thousand customers were added to Aegea's active households, with the concessions in which the company started operations in 2017 contributing to 90.9% of this increase. Therefore, the billed volume increased by 45.2% to 84.0 million cubic meters.
"In 2017, we achieved very positive results with the expansion of our operations, while we remained focused on improving the services provided, increasing operational efficiency and maintaining our credit quality," said the vice president of finance and investor relations of the Company, Flávio Crivellari.
Aegea's losses on water distribution in the period was 38%, a decrease of 0.4 percentage points. This figure was impacted by the consolidation of new concessionaires, which present higher losses than the existing concessions, in which the company already implemented efforts to reduce water losses. Considering the units where the company already operates, this index reached 33.7% in 2017, an amount 2.5 percentage points lower compared to 2016.
In 2017, Aegea invested R$527.2 million, an increase of R$66.4 million when compared to the year of 2016. This increase is mainly due to the payment of the concession fee in Águas de Teresina.
Overall, in 2017, the company increased its liquidity considerably. The average maturity of the debt was extended from 5.9 to 6.6 years, the short-term portion of the debt represented only 2.9% of total debt and the balance of cash and marketable securities was R$1.1 billion, approximately 12 times higher than the short-term debt maturities.
Aegea Saneamento is a Brazilian company that manages sanitation assets, through concessionaires in various Brazilian states, and operates public concessions. The company serves around 5.4 million people in 48 cities across 10 Brazilian states. Created in 2010, Aegea is the second largest company in the industry, with a 24% share of the Brazilian market for private sanitation services.
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SOURCE Aegea Saneamento