Cover
Cover | 3 Months Ended |
Mar. 31, 2024 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2024 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2024 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 1-31317 |
Entity Registrant Name | COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP |
Entity Central Index Key | 0001170858 |
Entity Address, Address Line One | Rua Costa Carvalho, 300 |
Entity Address, City or Town | São Paulo |
Entity Address, Postal Zip Code | 05429-900 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Interim Statements of Financial Position - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Current | ||
Cash and cash equivalents | R$ 2019391 | R$ 838484 |
Financial investments | 4,172,591 | 2,426,752 |
Trade receivables | 3,590,432 | 3,584,287 |
Accounts receivable from related parties | 266,662 | 261,280 |
Inventories | 122,166 | 86,008 |
Restricted cash | 45,694 | 54,944 |
Recoverable taxes | 328,173 | 494,647 |
Other assets | 74,586 | 37,048 |
Total current assets | 10,619,695 | 7,783,450 |
Noncurrent | ||
Trade receivables | 345,801 | 272,436 |
Accounts receivable from related parties | 932,308 | 935,272 |
Escrow deposits | 124,740 | 130,979 |
Deferred income tax and social contribution | 115,285 | 98,076 |
Water and Basic Sanitation National Agency – ANA | 1,879 | 2,673 |
Other assets | 162,684 | 159,017 |
Investments | 170,529 | 161,863 |
Investment properties | 46,666 | 46,678 |
Contract assets | 7,582,725 | 7,393,096 |
Intangible assets | 44,459,122 | 44,012,858 |
Property, plant and equipment | 484,312 | 474,559 |
Total noncurrent assets | 54,426,051 | 53,687,507 |
Total assets | 65,045,746 | 61,470,957 |
Current | ||
Trade payables and contractors | 490,494 | 456,215 |
Borrowings and financing | 2,716,361 | 2,616,406 |
Labor and social obligations | 742,587 | 807,440 |
Taxes and contributions | 619,028 | 511,972 |
Interest on capital | 837,391 | 837,391 |
Provisions | 1,085,976 | 1,064,367 |
Services payable | 838,703 | 750,732 |
Public-Private Partnership - PPP | 435,671 | 487,926 |
Program Contract Commitments | 20,896 | 21,969 |
Other liabilities | 870,394 | 853,424 |
Total current liabilities | 8,657,501 | 8,407,842 |
Noncurrent | ||
Borrowings and financing | 19,307,946 | 16,919,944 |
Deferred Cofins and PASEP | 169,265 | 164,097 |
Provisions | 777,225 | 762,065 |
Pension plan obligations | 2,131,230 | 2,142,871 |
Public-Private Partnership - PPP | 2,787,032 | 2,798,688 |
Program Contract Commitments | 12,139 | 12,047 |
Other liabilities | 522,737 | 406,027 |
Total non-current liabilities | 25,707,574 | 23,205,739 |
Total liabilities | 34,365,075 | 31,613,581 |
Equity | ||
Capital stock | 15,000,000 | 15,000,000 |
Earnings reserves | 14,711,014 | 14,711,014 |
Retained earnings | 823,295 | |
Other comprehensive income | 146,362 | 146,362 |
Total equity | 30,680,671 | 29,857,376 |
Total equity and liabilities | R$ 65045746 | R$ 61470957 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Interim Income Statements R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 BRL (R$) R$ / shares | Mar. 31, 2023 BRL (R$) R$ / shares | |
Profit or loss [abstract] | ||
Net operating revenue | R$ 6560246 | R$ 5698369 |
Operating costs | (3,975,427) | (3,653,723) |
Gross profit | 2,584,819 | 2,044,646 |
Selling expenses | (210,087) | (225,657) |
Allowance for doubtful accounts | (190,518) | (162,805) |
Administrative expenses | (538,138) | (284,679) |
Other operating income (expenses), net | 7,086 | 14,634 |
Equity results of investments in affiliaties | 8,893 | 6,334 |
Profit from operations before financial income (expenses) and income tax and social contribution | 1,662,055 | 1,392,473 |
Financial expenses | (592,103) | (562,471) |
Financial revenues | 247,575 | 219,320 |
Exchange result, net | 6,333 | 83,623 |
Financial result, net | (338,195) | (259,528) |
Profit before income tax and social contribution | 1,323,860 | 1,132,945 |
Income tax and social contribution | ||
Current | (517,774) | (383,488) |
Deferred | 17,209 | (2,245) |
Total Income tax and social contribution | (500,565) | (385,733) |
Profit for the year | R$ 823295 | R$ 747212 |
Earnings per share - basic (in reais) | (per share) | R$ 1.20451 | R$ 1.09320 |
Earnings per share - diluted (in reais) | (per share) | R$ 1.20451 | R$ 1.09320 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Interim Statements of Comprehensive Income - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Profit or loss [abstract] | ||
Profit for the year | R$ 823295 | R$ 747212 |
Other comprehensive income | ||
Items which will not be subsequently reclassified to the income statement: | ||
Actuarial gains and (losses) on defined benefit Plans, net of income tax | ||
Total comprehensive income for the year | R$ 823295 | R$ 747212 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Interim Statements of Changes in Equity - BRL (R$) R$ in Thousands | Issued capital [member] | Statutory reserve [member] | Investment Reserve [Member] | Complementary Minimum Dividend [Member] | Retained earnings [member] | Accumulated other comprehensive income [member] | Total |
Beginning balance, value at Dec. 31, 2022 | R$ 15000000 | R$ 1688428 | R$ 10390535 | R$ 76927 | R$ 177643 | R$ 27333533 | |
IfrsStatementLineItems [Line Items] | |||||||
Net income for the year | 747,212 | 747,212 | |||||
Actuarial gains (losses) | |||||||
Total comprehensive income for the year | 747,212 | 177,643 | 28,080,745 | ||||
Legal reserve | |||||||
Ending balance, value at Mar. 31, 2023 | 15,000,000 | 1,688,428 | 10,390,535 | 76,927 | 747,212 | 177,643 | 28,080,745 |
Beginning balance, value at Dec. 31, 2023 | 15,000,000 | 1,864,604 | 12,753,363 | 93,047 | 146,362 | 29,857,376 | |
IfrsStatementLineItems [Line Items] | |||||||
Net income for the year | 823,295 | 823,295 | |||||
Actuarial gains (losses) | |||||||
Total comprehensive income for the year | 823,295 | 146,362 | 30,680,671 | ||||
Legal reserve | |||||||
Ending balance, value at Mar. 31, 2024 | R$ 15000000 | R$ 1864604 | R$ 12753363 | R$ 93047 | R$ 823295 | R$ 146362 | R$ 30680671 |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Interim Statements of Cash Flows - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flow from operating activities | ||
Profit before income tax and social contribution | R$ 1323860 | R$ 1132945 |
Adjustments for: | ||
Depreciation and amortization | 773,785 | 657,145 |
Residual value of property, plant and equipment, intangible assets and investment properties written-off | 918 | 3,515 |
Allowance for doubtful accounts | 190,518 | 162,805 |
Provisions and inflation adjustment of provisions | 83,945 | 70,031 |
Interest calculated on borrowings and financing payable | 344,775 | 316,805 |
Inflation adjustment and exchange (losses) gains on borrowings and financing | 47,701 | (13,316) |
Interest and inflation adjustments on liabilities | 5,271 | 6,915 |
Interest and inflation adjustments on assets | (60,490) | (28,976) |
Finance charges from customers | (109,237) | (95,653) |
Construction margin on intangible assets arising from concession agreements | (30,055) | (26,519) |
Provision for Consent Decree (TAC) and Knowledge Retention Program (PRC) | (107,796) | (345) |
Equity results of investments in affiliaties | (8,893) | (6,334) |
Interest and monetary adjustments on PPP | 145,823 | 123,045 |
Transfer to the São Paulo Municipal Government | 174,673 | 155,387 |
Pension plan obligations | 48,879 | 51,921 |
Other adjustments | 4,346 | 4,119 |
Total Adjustments | 2,828,023 | 2,513,490 |
Changes in assets | ||
Trade receivables | (154,632) | (183,680) |
Accounts receivable from related parties | 6,553 | 10,172 |
Inventories | (36,158) | 6,951 |
Recoverable taxes | 166,474 | (23,531) |
Escrow deposits | 12,497 | (742) |
Other assets | (41,024) | (33,323) |
Changes in liabilities | ||
Trade payables and contractors | (419,392) | (414,033) |
Services payable | (86,703) | (274,097) |
Accrued payroll and related taxes | 33,630 | (2,630) |
Taxes and contributions payable | (85,314) | (225,360) |
Deferred Cofins and Pasep | 5,168 | 1,591 |
Provisions | (47,176) | (31,604) |
Pension plan obligations | (60,520) | (58,324) |
Other liabilities | 74,993 | (232,389) |
Cash generated from operations | (631,604) | (1,460,999) |
Interest paid | (473,596) | (543,850) |
Income tax and social contribution paid | (325,403) | (113,335) |
Net cash generated from operating activities | 1,397,420 | 395,306 |
Cash flows from investing activities | ||
Acquisition of contract assets and intangible assets | (571,410) | (570,332) |
Restricted cash | 9,250 | (10,827) |
Financial investments | (1,706,738) | 28,560 |
Purchase of property, plant and equipment | (15,911) | (30,954) |
Net cash used in investing activities | (2,284,809) | (583,553) |
Cash flows from financing activities | ||
Proceeds from loans | 2,939,695 | 121,611 |
Payment of loans | (660,026) | (716,239) |
Public-Private Partnership - PPP | (209,734) | (208,764) |
Program Contract Commitments | (1,639) | (39,396) |
Net cash generated by (used in) financing activities | 2,068,296 | (842,788) |
Increase / (decrease) in cash and cash equivalents | 1,180,907 | (1,031,035) |
Represented by: | ||
Cash and cash equivalents at the beginning of the period | 838,484 | 1,867,485 |
Cash and cash equivalents at the end of the period | 2,019,391 | 836,450 |
Increase / (decrease) in cash and cash equivalents | R$ 1180907 | R$ 1031035 |
Operations
Operations | 3 Months Ended |
Mar. 31, 2024 | |
Operations | |
Operations | 1 Operations Companhia de Saneamento Básico do Estado de São Paulo (SABESP or Company) is a mixed-capital company headquartered in the municipality of São Paulo, at Rua Costa Carvalho, 300, CEP 05429-900, controlled by the São Paulo State. The Company is engaged in the provision of basic and environmental sanitation services in the São Paulo State, and supplies treated water and sewage services on a wholesale basis. In addition to providing basic sanitation services in the São Paulo State, SABESP may perform activities in other states and countries and can operate in drainage, urban cleaning, solid waste handling and energy markets. SABESP aims to be a world reference in the provision of sanitation services, in a sustainable, competitive, and innovative manner, with a focus on customers. As of March 31, 2024, the Company operated water and sewage services in 376 municipalities of the São Paulo State, including the Municipality of Olímpia, which started being operated by the Company on December 11, 2023, of which 351 of these municipalities have already signed contracts, according to Law 11,445/2007. Most of these municipalities’ operations are based on 30-year concession, program, and service contracts, except for the municipalities of Guarulhos, Mauá, Santo André, São Bernardo do Campo, São João da Boa Vista, and Tejupá, which have a 40-year term. The table below shows a summary of the contractual situation of the municipalities served: Schedule of summary of the contractual March 31, 2024 December 31, 2023 March 31, 2023 Municipalities that have already signed contracts: 351 351 351 Balance – intangible and contract assets 49,485,788 48,759,219 45,931,674 Percentage of intangible and contract assets 95.10% 95.12% 94.79% Revenue from sanitation services (excluding construction revenue) 5,384,173 20,510,427 4,678,421 Percentage of revenue from sanitation services (excluding construction revenue) 95.11% 95.35% 95.30% Other Municipalities - Olímpia: 1 1 - Balance – intangible and contract assets 146,715 147,589 - Percentage of intangible and contract assets 0.28% 0.29% - Revenue from sanitation services (excluding construction revenue) 8,525 3,477 - Percentage of revenue from sanitation services (excluding construction revenue) 0.15% 0.02% - Municipalities with expired contracts: 1 1 1 Balance – intangible and contract assets 11,429 11,309 11,443 Percentage of intangible and contract assets 0.02% 0.02% 0.02% Revenue from sanitation services (excluding construction revenue) 4,361 17,559 3,822 Percentage of revenue from sanitation services (excluding construction revenue) 0.08% 0.08% 0.08% Municipalities with concession agreements due by 2030: 23 23 23 Balance – intangible and contract assets 1,045,481 1,051,209 1,064,090 Percentage of intangible and contract assets 2.02% 2.05% 2.20% Revenue from sanitation services (excluding construction revenue) 223,943 833,418 189,704 Percentage of revenue from sanitation services (excluding construction revenue) 3.96% 3.87% 3.86% Municipality of São Paulo: Percentage of intangible and contract assets 43.08% 43.40% 43.21% Percentage of revenue from sanitation services (excluding construction revenue) 43.49% 44.95% 44.53% The Company's shares have been listed on the Novo Mercado segment of B3 under ticker SBSP3 since April 2002 and on the New York Stock Exchange (NYSE) as Level III American Depositary Receipts (“ADRs”), under ticker SBS, since May 2002. Since 2008, the Company has been setting up partnerships with other companies, which resulted in the following companies: Sesamm, Águas de Andradina, Saneaqua Mairinque, Aquapolo Ambiental, Águas de Castilho, Attend Ambiental, Paulista Geradora de Energia, Cantareira SP Energia, FOXX URE-BA Ambiental, and Infranext Soluções em Pavimentação. Although SABESP has no majority interest in the capital stock of these companies, the shareholders’ agreements provide for the power of veto and casting votes on certain issues jointly with associates, indicating the shared control in the management of these investees, except for Saneaqua Mairinque, which, as of August 2020, no longer has a shared control. · Privatization and Proposal of New Concession Agreements As of September 18, 2023, the Board of the State Privatization Program (CDPED) resolved to recommend that: (i) the Investment Partnerships Secretariat and the Environment, Infrastructure, and Logistics Secretariat take the necessary steps to submit the draft of the Company’s privatization law to the Governor’s office; and (ii) SABESP, under article 5, II combined with article 7, paragraph 2 and paragraph 4 of Law 9,361/96, starts the procedure for the selection and hiring of coordinating banks and other services required for the future public offering. As of September 30, 2023, as provided for in paragraph 2 of article 14 of Federal Law 14,026/2020 (“New Legal Sanitation Framework”), the State of São Paulo send Official Letters to the municipalities operated by the Company with proposals to change the conditions of the concession agreements in effect (“Communication”). The Communication highlights general aspects of the proposal for a new concession agreement (“New Agreement”) aiming at replacing the existing agreements, under article 14 of the New Legal Sanitation Framework, indicating that the following guidelines will be observed under the New Agreement to be executed with these municipalities: (a) the anticipation of achieving the universalization goals established in the New Sanitation Framework for 2029, subject to any shorter deadlines contractually outlined; (b) the extension of the concession agreement for 2060; (c) the obligation of SABESP to serve the population residing in consolidated informal urban settlements and rural areas, covering the entire municipal territory; and (d) the detailing of investments to be made in each municipality. As of December 11, 2023, State Law 17,853 was enacted. It authorized the Executive Branch of the São Paulo State to promote privatization measures of Companhia de Saneamento Básico do Estado de São Paulo – SABESP. Among other aspects, as provided for in article 2, the model adopted for the privatization of SABESP must observe the following guidelines: (i) compliance with the universalization goals of water supply and sewage services in all municipalities of the State served by the Company, considering the inclusion of rural areas and consolidated informal urban centers, under Federal Law 14,026, of July 15, 2020; (ii) anticipation, to December 31, 2029, of the achievement of the universalization goals, subject to any shorter deadlines contractually agreed upon; (iii) tariff reduction, preferably considering the most vulnerable population; (iv) provision for the creation of an annual control to monitor compliance with the goals, with indications of investment requirements for the next few years; (v) provision of quality services, aiming at improving the quality of treated water and reducing its loss; (vi) guarantee, in the contractual instruments resulting from the privatization, to the employees listed in SABESP’s permanent staff at the time of the publication of this law, of stability, with the maintenance of their employment contract for 18 (eighteen) months from the date of effective completion of the Company’s privatization process. As of December 21, 2023, the Company concluded the selection of financial institutions that will be the global coordinators of the financial institutions union responsible for structuring the Company’s potential follow-on. The selected Global Coordinators are i) BTG Pactual; ii) Bank of America; iii) CITI; and iv) UBS - BB. As of February 15, 2024, as reported by the Company in a Material Fact, the São Paulo State opened a public consultation regarding the following documents: (a) the draft of the Concession Agreement to be executed between the Regional Unit of Drinking Water Supply and Sewage Services 1 ("URAE-1") Southeast and SABESP, with the indication of the involvement of the São Paulo State Utility Services Regulatory Agency, along with the specific technical exhibits of the Municipalities comprising URAE-1, in addition to other contractual exhibits; (b) the draft of the charter of URAE-1’s Decision-Making Board; and (c) the draft of the Regional Sanitation Plan, under article 17 of Federal Law 11,445, of 2007. The aforementioned Public Consultation on the privatization of SABESP was concluded on March 15, 2024, with a significant number of suggestions submitted by the public. A total of 976 contributions were received through the Internet, in addition to 135 oral statements made at the eight public hearings held by the São Paulo State on the matter. As informed by the Company in a Material Fact released to its shareholders on April 30, 2024, the São Paulo State Government, through the Secretariat of Environment, Infrastructure, and Logistics (SEMIL), together with the Investment Partnerships Secretariat (SPI), published the result of Public Consultation 01/2024/GS regarding the documents made available within the scope of the Company's Privatization process. In this context, the São Paulo São Paulo State Government submitted the final versions of the following documents to the municipalities comprising URAE1-Southeast: (a) Draft of the Concession Agreement between URAE 1 - Southeast and the Company and respective exhibits; (b) Draft of the Charter of URAE 1 - Southeast’s Decision-Making Board; and (c) Draft of the Regional Basic Sanitation Plan under Article 17 of Federal Law 11,445/2007. The next steps of the privatization process consist of the approval and signing of said documents within the scope of URAE 1 - Southeast, followed by approval from the Board of the State Privatization Program (CDPED) of the final conditions of the public offering. Management expects that the funds raised with the improved water security from the works carried out, the generation of operational cash, and credit lines available for investments, will be sufficient to meet the Company’s commitments and not compromise the necessary investments. Approvals The Unaudited Condensed Consolidated Interim Financial Statements was approved by management on June 21 |
Basis of preparation and presen
Basis of preparation and presentation of the Unaudited Condensed Consolidated Interim Financial Statements | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Basis of preparation and presentation of the Unaudited Condensed Consolidated Interim Financial Statements | 2 Basis of preparation and presentation of the Unaudited Condensed Consolidated Interim Financial Statements Presentation of the Unaudited Condensed Consolidated Interim Financial Information The Unaudited Condensed Consolidated Interim Financial Statements have been prepared and presented in accordance with International Accounting Standard 34, Interim Financial Reporting, within the framework of International Financial Standards as issued by the International Accounting Standards Board. The Unaudited Condensed Consolidated Interim Financial Statements do not include all the notes and reporting required by the standards for the annual financial statements, and accordingly, should be read in conjunction with the Company’s Annual Report on Form 20-F for the year ended December 31, 2023 as filed with the SEC on May 3 rd i. Summary of significant accounting policies (Note 3); ii. Changes in accounting practices and disclosures (Note 4); iii. Risk management – Financial instruments (Note 5.4); iv. Key accounting estimates and judgments (Note 6); v. Related-party balances and transactions (Note 11); vi. Investments (Note 12); vii. Intangible assets (Note 15); viii. Borrowings and financing (Note 17); ix. Deferred taxes and contributions (Note 19); x. Provisions (Note 20); xi. Pension plan obligations (Note 22); xii. Equity (Note 24); xiii. Insurance (Note 27); All material information related to the Unaudited Condensed Consolidated Interim Financial Statements, and this information alone, is being disclosed and corresponds to the information used by the Company’s Management in its administration. The amounts disclosed in the Notes to the Unaudited Condensed Consolidated Interim Financial Statements are in thousands of Brazilian reais, unless otherwise stated. |
Summary of material information
Summary of material information on accounting policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Summary of material information on accounting policies | 3 Summary of material information on accounting policies The significant accounting policy information used in the preparation of the Unaudited Condensed Consolidated Interim Financial Statements as of March 31, 2024, are consistent with those used to prepare the Annual Financial Statements for the year ended December 31, 2023, disclosed in Note 3 of such financial statements. |
Risk management
Risk management | 3 Months Ended |
Mar. 31, 2024 | |
Risk Management | |
Risk management | 4 Risk management 4.1 Financial Risk Management Financial risk factors The Company's activities are affected by the Brazilian economic scenario, making it exposed to market risk (exchange rate and interest rate), credit risk, and liquidity risk. Financial risk management is focused on the unpredictability of financial markets and seeks to minimize potential adverse effects on financial performance. The Company has not utilized derivative instruments in any of the reported periods. (a) Market risk Foreign currency risk Foreign currency exposure implies market risks associated with currency fluctuations, since the Company has foreign currency-denominated liabilities, arising from long-term funding, in development institutions, at more attractive interest rates, in U.S. dollars and Yen. The management of currency exposure considers several current and projected economic factors, besides market conditions. This risk arises from the possibility that the Company may incur losses due to exchange rate fluctuations that would impact liability balances of foreign currency-denominated borrowings and financing and related financial expenses. The Company does not maintain hedge or swap contracts or any derivative financial instrument to hedge against this risk. Part of the financial debt, totaling R$ 2,671,887 2,785,853 Schedule of exposure to exchange risk March 31, 2024 December 31, 2023 Foreign currency (in thousands) R$ Foreign currency (in thousands) R$ Borrowings and financing – US$ 272,009 1,359,011 280,188 1,356,474 Borrowings and financing – Yen 39,077,331 1,289,943 41,078,385 1,405,702 Interest and charges from borrowings and financing – US$ 20,264 15,510 Interest and charges from borrowings and financing – Yen 2,669 8,167 Total exposure 2,671,887 2,785,853 Borrowing cost – US$ (38,404) (37,520) Borrowing cost – Yen (2,391) (2,442) Total foreign currency-denominated borrowings (Note 16) 2,631,092 2,745,891 The 4.2% decrease in the balance of the foreign currency-denominated debt from March 31, 2024, compared to December 31, 2023, was mainly impacted by the depreciation of the Yen against the Brazilian real and amortizations in the period. The table below shows the prices and exchange variations in the period: Schedule of prices and exchange variations March 31, 2024 December 31, 2023 Var. US$ R$ 4.9962 R$ 4.8413 3.2 Yen R$ 0.03301 R$ 0.03422 -3.5 Borrowings and financing fell by R$ 6,335 83,825 267,189 266,878 The probable scenario below presents the effect on the income statements for the next 12 months, considering the projected rates of the U.S. dollar and the Yen. The Company understands that the scenario presented is reasonable, given the instability of the Brazilian real against the U.S. dollar and the Yen. Schedule of scenario of effect on the income statement Probable scenario (*) Net currency exposure as of March 31, 2024 in US$ - Liabilities 272,009 US$ rate as of March 31, 2024 4.9962 Exchange rate estimated according to the scenario 4.9700 Difference between the rates 0.0262 Effect on net financial result R$ - (gain) 7,127 Net currency exposure as of March 31, 2024 in Yen - Liabilities 39,077,331 Yen rate as of March 31, 2024 0.03301 Exchange rate estimated according to the scenario 0.03446 Difference between the rates (0.00145 Effect on the net financial result R$ - (loss) (56,662) Total effect on the net financial result in R$ - (loss) (49,535) (*) For the probable scenario in U.S. dollars and Yen, the exchange rates estimated for March 31, 2025 were used, according to the Focus-BACEN and B3’s Benchmark Rate report, of March 31, 2024, respectively. Interest rate risk This risk arises from the possibility that the Company could incur losses due to fluctuations in interest rates, increasing the financial expenses related to borrowings and financing. The Company has not entered into any derivative contract to hedge against this risk; however, it continually monitors market interest rates, to evaluate the possible need to replace its debt. The table below provides the borrowings and financing subject to different inflation adjustment indices: Schedule of borrowings and financing subject to different inflation adjustment indices March 31, 2024 December 31, 2023 CDI (i) 12,672,245 9,966,111 TR (ii) 1,656,774 1,684,711 IPCA (iii) 2,927,406 3,038,378 TJLP (iv) 1,290,064 1,365,806 SOFR (v) 1,359,011 1,356,473 Interest and charges 399,957 392,906 Total 20,305,457 17,804,385 (i) CDI - ( Certificado de Depósito Interbancário (ii) TR – Interest Benchmark Rate (iii) IPCA - ( Índice Nacional de Preços ao Consumidor Amplo (iv) TJLP - ( Taxa de Juros a Longo Prazo (v) SOFR - Secured Overnight Financing Rate Another risk to which the Company is exposed is the mismatch of inflation adjustment indices of its debts with those of its service revenues. Tariff adjustments of services provided do not necessarily follow the increases in the inflation indexes to adjust borrowings, financing and interest rates affecting indebtedness. As of March 31, 2024, if interest rates on borrowings and financing had been 1 percentage point higher or lower with all other variables held constant, the effects on profit before taxes for the three-month period ended March 31, 2024 would have been R$ 203,055 163,164 (b) Credit risk Credit risk is related to cash and cash equivalents, financial investments, as well as credit exposures of customers, including accounts receivable, restricted cash, and accounts receivable from related parties. Credit risk exposure to customers is mitigated by sales to a dispersed base. The maximum exposure to credit risk as of March 31, 2024 is the carrying amount of instruments classified as cash and cash equivalents, financial investments, restricted cash, trade receivables, and accounts receivable from related parties on the balance sheet date. See Notes 6, 7, 8, 9, and 10. Regarding the financial assets held with financial institutions, the credit quality was assessed by reference to external credit ratings (if available) or historical information about the bank’s default rates. For the credit quality of the banks, such as deposits and financial investments, the Company assesses the rating published by three main international agencies (Fitch, Moody's and S&P), as follows: Schedule of credit risk Banks Fitch Moody's Standard Poor's Banco do Brasil S/A AAA(bra) AAA.br - Banco Santander Brasil S/A - AAA.br brAAA Brazilian Federal Savings Bank AAA(bra) AAA.br brAAA Banco Bradesco S/A AAA(bra) AAA.br brAAA Banco Itaú Unibanco S/A AAA(bra) AAA.br - Banco BV - AA.br brAAA Banco BTG Pactual S/A AAA(bra) AAA.br brAAA The rating assessment disclosed by Fitch for deposit transactions and financial investments in local currency is as follows: Schedule of rating assessment March 31, 2024 December 31, 2023 Cash and cash equivalents and financial investments AAA(bra) 5,859,198 2,940,690 Others (*) 332,784 324,546 6,191,982 3,265,236 (*) As of March 31, 2024, this category includes R$ 329,381 322,241 (c) Liquidity risk Liquidity is primarily reliant upon cash provided by operating activities and borrowings and financing obtained in the local and international capital markets, as well as the payment of debts. The management of this risk considers the assessment of its liquidity requirements to ensure it has sufficient cash to meet its operating and capital expenditure requirements. The funds held are invested in interest-bearing current accounts, time deposits, and securities, with instruments with appropriate maturity or liquidity sufficient to provide margin as determined by the projections mentioned above. The table below shows the financial liabilities, by maturity, including the installments of principal and future interest. For agreements with floating interest rates, the interest rates used correspond to the base date of March 31, 2024. Schedule of liquidity risk 2024 2025 2026 2027 2028 2029 onwards Total As of March 31, 2024 Liabilities Borrowings and financing 3,051,567 3,773,001 3,368,294 3,278,126 2,418,568 13,595,562 29,485,118 Trade payables and contractors 490,494 - - - - - 490,494 Services payable 838,703 - - - - - 838,703 Public-Private Partnership - PPP 432,216 446,524 461,438 476,850 492,777 6,057,282 8,367,087 Program Contract Commitments 20,310 1,232 1,232 1,232 1,232 11,702 36,940 Total 4,833,290 4,220,757 3,830,964 3,756,208 2,912,577 19,664,546 39,218,342 Cross default The Company has borrowings and financing agreements including cross-default clauses, i.e., the early maturity of any debt may imply the early maturity of these agreements. The indicators are continuously monitored to avoid the execution of these clauses, and the most restrictive ones are shown in Note 16 (c). (d) Sensitivity analysis on interest rate risk The table below shows the sensitivity analysis of the financial instruments, prepared under IFRS 7. To evidence the balances of main financial assets and liabilities, calculated at a rate projected for the twelve-month period after March 31, 2024, or until the final settlement of each contract, whichever occurs first, considering a probable scenario. The purpose of the sensitivity analysis is to measure the impact of changes in the market on the financial instruments, considering constant all other variables. At the time of settlement, the amounts may be different from those presented, due to the estimates used in the measurement. Schedule of sensitivity analysis of the financial instruments March 31, 2024 Indicators Exposure Probable scenario Assets CDI 6,162,220 9.8500 Financial income 606,979 Liabilities CDI (12,672,245) 9.8500 Interest to be incurred (1,248,216) CDI net exposure (6,510,025) (641,237) Liabilities TR (1,656,774) 0.0048 Expenses to be incurred (80) IPCA (2,927,406) 3.4600 Expenses to be incurred (101,288) TJLP (1,290,064) 6.3800 Interest to be incurred (82,306) SOFR (***) (1,359,011) 5.0397 Interest to be incurred (68,490) Total expenses to be incurred, net (893,401) (*) Source: BACEN and LCA as of March 31, 2024 (**) Source: B3 of March 31, 2024 (***) Source: Bloomberg 4.2 Capital management The Company’s objectives when managing capital are to ensure the Company’s ability to continue increasing investments in infrastructure, provide returns for shareholders and benefits for other stakeholders, and maintain an optimal capital structure to reduce the cost of capital. Capital is monitored based on the leverage ratio, which corresponds to net debt divided by total capital (shareholders and providers of capital). Net debt corresponds to total borrowings and financing less cash and cash equivalents and financial investments. Total capital is calculated as total equity plus net debt, as shown in the statement of financial position. Schedule of capital management March 31, 2024 December 31, 2023 Total borrowings and financing (Note 16) 22,024,307 19,536,350 (-) Cash and cash equivalents (Note 6) (2,019,391) (838,484) (-) Financial investments (Note 7) (4,172,591) (2,426,752) Net debt 15,832,325 16,271,114 Total equity 30,680,671 29,857,376 Total (shareholders plus providers of capital) 46,512,996 46,128,490 Leverage ratio 34 35 4.3 Fair value estimates The Company considers that balances from trade receivables (current) and trade payables by carrying amount less impairment approximate their fair values, considering the short maturity. Long-term trade receivables also approximate their fair values, as they are adjusted by inflation and/or will bear contractual interest rates over time. 4.4 Financial instruments The Company did not have financial assets classified as fair value through other comprehensive income and fair value through profit or loss. The financial instruments included in the amortized cost category comprise cash and cash equivalents, financial investments, restricted cash, trade receivables, balances with related parties, other assets and balances receivable from the Water National Agency (ANA), accounts payable to suppliers, borrowings and financing, services payable, balances payable deriving from the Public-Private Partnership (PPP) and program contract commitments, which are non-derivative financial assets and liabilities with fixed or determinable payments, not quoted in an active market, except for cash equivalents and financial investments. The estimated fair values of the financial instruments were as follows: Financial Assets Schedule of estimated fair values of the financial instruments March 31, 2024 December 31, 2023 Carrying amount Fair value Carrying amount Fair value Cash and cash equivalents 2,019,391 2,019,391 838,484 838,484 Financial investments 4,172,591 4,172,591 2,426,752 2,426,752 Restricted cash 45,694 45,694 54,944 54,944 Trade receivables 3,936,233 3,936,233 3,856,723 3,856,723 ANA 1,879 1,879 2,673 2,673 Other assets 237,270 237,270 196,065 196,065 Additionally, SABESP has financial assets receivable from related parties, totaling R$ 1,198,932 1,196,545 1,081,079 1,076,174 Financial Liabilities Schedule of financial liabilities March 31, 2024 December 31, 2023 Carrying amount Fair value Carrying amount Fair value Borrowings and financing 22,024,307 22,444,692 19,536,350 19,950,055 Trade payables and contractors 490,494 490,494 456,215 456,215 Services payable 838,703 838,703 750,732 750,732 Program Contract Commitment 33,035 33,035 34,016 34,016 Public-Private Partnership - PPP 3,222,703 3,222,703 3,286,614 3,286,614 The criteria adopted to obtain the fair values of borrowings and financing, in preparing the Unaudited Condensed Consolidated Interim Financial Statements as of March 31, 2024, are consistent with those used in the preparation of the Annual Financial Statements for the fiscal year ended December 31, 2023. Financial instruments referring to financial investments and borrowings and financing are classified as Level 2 in the fair value hierarchy. Considering the nature of other financial instruments, assets and liabilities, the balances recognized in the statement of financial position approximate the fair values, except for borrowings and financing, considering the maturities close to the end of the reporting date of this Unaudited Condensed Consolidated Interim Financial Statements, comparison of contractual interest rates with market rates in similar operations at the end of the reporting periods, their nature, and maturity terms. |
Key accounting estimates and ju
Key accounting estimates and judgments | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Key accounting estimates and judgments | 5 Key accounting estimates and judgments The preparation of the quarterly information requires Management to disclose judgments (except for those that involve estimates) that have a significant impact on the amounts recognized based on experience and other factors deemed as relevant, which affect the values of assets and liabilities and present results that may differ from the actual results. The Company establishes estimates and assumptions regarding the future, which are reviewed on a timely basis. Such accounting estimates, by definition, may differ from the actual results. The effects arising from the reviews of the accounting estimates are recognized in the period in which the estimates are reviewed. The Company assessed the main accounting policies that involve judgments, except for those that involve estimates, and concluded that none of them have a significant effect. The areas that require a higher level of judgment and greater complexity, as well as assumptions and estimates that are significant for the quarterly information, are: (i) allowance for doubtful accounts; (ii) intangible assets arising from concession agreements and program contracts; (iii) pension plan obligations; (iv) deferred income tax and social contribution; (v) provisions; and (vi) unbilled revenue. |
Cash and cash equivalents
Cash and cash equivalents | 3 Months Ended |
Mar. 31, 2024 | |
Cash And Cash Equivalents | |
Cash and cash equivalents | 6 Cash and cash equivalents Schedule of cash and cash equivalents March 31, 2024 December 31, 2023 Cash and banks 27,042 31,187 Cash equivalents 1,992,349 807,297 Total 2,019,391 838,484 Cash and cash equivalents include cash, bank deposits, and high-liquidity short-term financial investments, mainly represented by repurchase agreements, fund shares (accruing CDI interest rates), and CDBs, whose original maturities or intention of realization are lower than three months, which are convertible into a cash amount and subject to an insignificant risk of change in value. As of March 31, 2024, the average yield of cash equivalents corresponded to 96.67 96.25 |
Financial investments
Financial investments | 3 Months Ended |
Mar. 31, 2024 | |
Financial Investments | |
Financial investments | 7 Financial investments The Company has financial investments in CDB, with daily liquidity, which it does not intend to use in the next three months, as shown below: Schedule of financial investments March 31, 2024 December 31, 2023 Banco BV 329,380 322,240 Banco Bradesco S/A 657,631 643,445 Banco BTG Pactual S/A 459,170 449,241 Banco do Brasil S/A 2,726,410 1,011,826 4,172,591 2,426,752 As of March 31, 2024, the average yield of the financial investments corresponded to 103.3 103.3 |
Restricted cash
Restricted cash | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Restricted cash | 8 Restricted cash Schedule of restricted cash March 31, 2024 December 31, 2023 Agreement with the São Paulo Municipal Government (i) 38,690 47,749 Brazilian Federal Savings Bank – escrow deposits 442 365 Other 6,562 6,830 45,694 54,944 (i) Refers to the amount deducted from the transfer of 7.5% of the revenue earned in the municipality to the Municipal Fund for Environmental Sanitation and Infrastructure, corresponding to eventual amounts unpaid by direct management bodies, foundations and government agencies, as established in the agreement entered into with São Paulo Municipal Government (PMSP). |
Trade receivables
Trade receivables | 3 Months Ended |
Mar. 31, 2024 | |
Trade Receivables | |
Trade receivables | 9 Trade receivables (a) Statement of financial position details Schedule of statement of financial position details March 31, 2024 December 31, 2023 Private sector: General (i) and special customers (ii) 2,687,984 2,200,921 Agreements (iii) 177,638 839,010 2,865,622 3,039,931 Government entities: Municipal 598,602 623,601 Federal 9,938 8,036 Agreements (iii) 658,021 374,372 1,266,561 1,006,009 Wholesale customers – Municipal governments: (iv) Mogi das Cruzes 4,134 4,343 São Caetano do Sul 8,109 45,333 São Caetano do Sul Agreement 76,502 - Total wholesale customers – Municipal governments 88,745 49,676 Unbilled supply 1,092,167 1,138,316 Subtotal 5,313,095 5,233,932 Allowance for doubtful accounts (1,376,862) (1,377,209) Total 3,936,233 3,856,723 Current 3,590,432 3,584,287 Noncurrent 345,801 272,436 Total 3,936,233 3,856,723 (i) General customers - residential and small and mid-sized companies; (ii) Special customers – large consumers, commercial industries, condominiums and special billing customers (fixed demand agreements, industrial waste, wells, among others); (iii) Agreements - installment payments of past-due receivables, plus inflation adjustment and interest, according to the agreements; and (iv) Wholesale basis customers - municipal governments. This balance refers to the sale of treated water to municipalities, which are responsible for distributing to, billing, and charging final customers. (b) The aging of trade receivables is as follows: Schedule of the aging trade receivables March 31, 2024 December 31, 2023 Current 2,852,858 2,723,975 Past-due: Up to 30 days 573,435 627,986 From 31 to 60 days 265,847 271,476 From 61 to 90 days 189,807 181,639 From 91 to 120 days 142,875 127,421 From 121 to 180 days 304,359 290,610 From 181 to 360 days 179,209 57,289 Over 360 days 804,705 953,536 Total past-due 2,460,237 2,509,957 Total 5,313,095 5,233,932 (c) Allowance for doubtful accounts Schedule of allowance for doubtful accounts Changes in assets January to March 2024 January to March 2023 Balance at the beginning of the period 1,377,209 1,428,517 Creation/(reversal) of losses 40,097 (8,449) Recoveries (40,444) (19,627) Balance at the end of the period 1,376,862 1,400,441 Schedule of estimated reconciliation Reconciliation of estimated/historical losses at the result January to March 2024 January to March 2023 Write-offs (190,285) (190,138) (Losses)/reversal with state entities – related parties (580) (743) (Losses)/reversal with the private sector/government entities (40,097) 8,449 Recoveries 40,444 19,627 Amount recorded as expense (Note 27) (190,518) (162,805) The Company does not have customers individually representing 10% or more of its total revenues. (d) Registered warrants The Company has registered warrants issued as a result of final and unappealable lawsuits for the collection of unpaid water and sewage bills from public entities. These bills are considered allowance for doubtful accounts ('PECLD') in their entirety, and the updated values of said bills, calculated according to the respective registered warrants, are not recognized due to uncertainties regarding their realization. As of March 31, 2024, the Company has registered warrants issued in its favor, currently totaling R$ 3,232,377 3,085,265 The reversal of the PECLD for the original bills and their update are recognized when uncertainties regarding their realization are mitigated, i.e. when the realization value becomes determinable due to the predictability of the commencement of its receipt or when negotiated with third parties. The Company did not negotiate its registered warrants in the current period or in the comparative year and period, and there are no ongoing negotiations, as follows: Schedule of registered warrants Debtor March 31, 2024 December 31, 2023 Municipality of São Paulo 3,139,801 3,042,927 São Paulo State Government 41,359 - Municipality of Cachoeira Paulista 15,871 15,456 Municipality of Agudos 13,061 14,964 Other 22,285 11,918 Total 3,232,377 3,085,265 Additionally, the Company negotiated registered warrants for overdue bills with the municipalities of Guarulhos, Santo André, and Mauá in previous fiscal years, which are currently suspended as they serve as collateral for the fulfillment of contracts entered into with the municipalities. As of May 09, 2024, the Board of Directors approved the adherence to the notice for agreement 1/2024 from the São Paulo Municipal Government (PMSP), whose adherence deadline ends on June 30, 2024. The objective of said Notice is the presentation of direct agreement proposals by holders of registered warrants. For the adherence to be effective, approval by the Registered Warrants Conciliation Chamber of the Municipal Attorney General Office (PGM) and other subsequent procedures according to the Notice are required, the accuracies of which are still considered uncertain. SABESP may withdraw the proposal at any time, provided it is before the payment made by the Board of Registered Warrants Executions and Calculations of the São Paulo State Court of Justice (Depre), as provided in the Notice. The Company does not expect changes in the recognition method of the municipality of São Paulo's registered warrants until such adherence becomes effective. |
Related-party balances and tran
Related-party balances and transactions | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Related-party balances and transactions | 10 Related-party balances and transactions (a) São Paulo State (i) Accounts receivable, interest on capital, revenue, and expenses Schedule of accounts receivable, interest on capital, revenues, and expenses March 31, 2024 December 31, 2023 Accounts receivable Current: Sanitation services 167,608 169,515 Allowance for losses (51,078) (50,498) Reimbursement of additional retirement and pension benefits paid (G0): - Monthly flow 41,929 36,241 - GESP Agreement – 2015 108,203 106,022 Total current 266,662 261,280 Noncurrent: Agreement for the installment payment of sanitation services 1,361 1,361 Reimbursement of additional retirement and pension benefits paid (G0): - GESP Agreement – 2015 930,947 933,911 Total noncurrent 932,308 935,272 Total receivables 1,198,970 1,196,552 Assets: Sanitation services 117,891 120,378 Reimbursement of additional retirement and pension benefits paid (G0) 1,081,079 1,076,174 Total 1,198,970 1,196,552 Liabilities: Interest on capital payable 420,564 420,564 Schedule of loan agreement through credit facility January to March 2023 January to March 2024 Revenue from sanitation services 162,966 186,144 Payments from related parties (167,612) (186,205) Payment received from reimbursement referring to Law 4,819/1958 (52,593) (47,816) (ii) isputed amounts As of March 31, 2024 and December 31, 2023, the disputed amounts between SABESP and the São Paulo State, referring to additional retirement and pension benefits paid (Law 4,819/1958), totaled R$ 1,605,832 1,583,449 (iii) Actuarial Liability The Company recognized an actuarial liability corresponding to additional retirement and pension benefits paid to employees, retired employees, and pensioners of the G0 Plan. As of Marcy 31, 2024 and December 31, 2023, the amounts corresponding to such actuarial liability were R$ 2,095,517 2,098,622 (b) Use of Reservoirs – EMAE Empresa Metropolitana de Águas e Energia S.A. (EMAE) planned to receive the credit and obtain financial compensation for alleged past and future losses in electricity generation arising from water collection, and compensation for costs already incurred and to be incurred with the operation, maintenance, and inspection of the Guarapiranga and Billings reservoirs used by SABESP in its operations. As of October 28, 2016, the Company entered into an agreement based on a Private Transaction Agreement and Other Covenants to fully and completely settle the disputes and SABESP will continue using the reservoirs. As of March 31, 2024, the balance of the agreement totaled R$ 9,197 103,572 8,876 99,279 (c) Agreements with reduced tariffs for State Entities that join the Rational Water Use Program (PURA) The Company has agreements with government entities related to the São Paulo State Government that benefit them with a 25% discount on water supply and sewage services tariffs when they are not in default. These agreements provide for the implementation of the rational water use program, which provides for water consumption reduction. (d) Guarantees The São Paulo State provides guarantees for some of the Company’s borrowings and financing and does not charge any related fees. See Note 16. (e) Personnel assignment agreement among entities related to the São Paulo State Government The Company has personnel assignment agreements with entities related to the State Government, whose expenses are fully charged. From January to March 2024, expenses with employees assigned to other state entities totaled R$ 3,518 672 No expenses with employees from other entities assigned to the Company were recorded from January to March 2024 and in the same period in 2023. (f) Non-operating assets As of March 31, 2024 and December 31, 2023, the Company’s land and lent structures totaled R$ 3,613 (g) SABESPREV The Company sponsors a defined benefit plan (G1 Plan), which is operated and administered by SABESPREV. The net actuarial liability recognized until March 31, 2024, totaled R$ 35,713 44,249 (h) Compensation of the Fiscal Council and Management From January to March 2024, expenses related to the compensation of the members of the Fiscal Council appointed by the controlling shareholder and Management members totaled R$ 2,470 1,658 From January to March 2024, additional amounts of R$ 540 285 (i) Loan agreement through credit facility The Company holds interest in certain Special Purpose Entities (SPEs), in which it does not hold the majority interest but has cast vote and power of veto in some matters but cannot use such power of veto in a way to affect the returns of its investments. Therefore, these SPEs are considered for accounting purposes as joint arrangements. Águas de Andradina The Company entered into a loan agreement through a credit facility with SPE Águas de Andradina S/A to finance the operations of that company. As of March 31, 2024, the balance of principal and interest of this agreement totaled R$ 812 2,814 694 2,814 This agreement was executed on August 17, 2021. The amount of principal, adjustment, accrued interest, and any other taxes must be paid in full by August 31, 2025. Sabesp Olímpia The Company formalized a loan agreement through a credit facility with Sabesp Olímpia S/A, making available the necessary funds for the payment of the first installment of the Fixed Concession Fee to the Municipality of Estância Turística de Olímpia, which was a prerequisite for the signing of the water and sewage concession agreement. As of March 31, 2024, the balance of principal and interest of this agreement totaled R$ 81,059 This agreement was executed on September 26, 2023. The principal and the accumulated interest on the principal must be fully repaid by September 2040. (j) FEHIDRO The Company has financing agreements under the State Fund for Water Resources (FEHIDRO). These funds will be aimed at the execution of works and sewage services. As of March 31, 2024, the balance of these financings totaled R$ 1,136 1,278 |
Investments
Investments | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Investments Abstract | |
Investments | 11 Investments The Company holds interests in certain Special Purpose Entities (SPE). Although SABESP has no majority shares of its investees, the shareholders’ agreement provides for the power of veto in certain management matters, however, it cannot use such power of veto in a way to affect the returns over the investments, implying a mutually shared control (joint venture – IFRS 11), except when SABESP Olímpia, in which the Company holds a stake of 100% and meets the control requirements, consolidated this SPE, according to the Accounting Policy described in Note 2023 to the Annual Financial Statements as of December 31, 2023. The Company holds equity interest valued by the equity accounting in the following investees: Schedule of equity interest valued by the equity Equity Contribution Profit (loss) for the period March 31, 2024 December 31, 2023 January to March 2024 January to March 2024 (*) January to March 2023 Sesamm 65,511 61,275 - 4,236 - 4,630 Águas de Andradina 35,582 34,088 - 1,494 - 389 Águas de Castilho 13,384 12,784 - 600 - 402 Attend Ambiental 47,823 43,263 - 4,560 - 4,016 Aquapolo Ambiental 112,297 102,442 - 9,855 - 8,610 Paulista Geradora de Energia - PGE (**) 42,917 42,307 590 20 - (28) Cantareira SP Energia 10,711 10,650 - 61 - (258) FOXX URE-BA Ambiental 62,430 63,309 - (295) (584) (6,549) Infranext Soluções em Pavimentação (***) 4,699 4,699 - - - (340) Sabesp Olímpia (3,121) (3,066) - (55) - - (*) The amount presented refers to changes in the equity of the investee, as its financial statements for the year ended December 31, 2023 were issued after the disclosure of SABESP’s financial statements. (**) In 2023, a contribution of R$ 20,600 was defined, with Servtec and Tecniplan paying R$ 14,860 of this amount in the same year. In 2024, Servtec and Tecniplan paid the remaining amount of R$ 590, with the total paid-in amount corresponding to a 75% equity interest. As of March 31, 2024, SABESP had an outstanding payable amount of R$ 5,150. (***) Infranext’s share capital will be R$ 12,000. As of December 31, 2023, SABESP had an outstanding payable amount of R$ 4,950. The information presented refers to the position as of December 31, 2023, the last balance sheet received. Investments Equity results of investments Interest percentage March 31, 2024 December 31, 2023 January to March 2024 (*) March 31, 2024 December 31, 2023 Sesamm 23,584 22,059 1,525 - 36 36 Águas de Andradina 10,673 10,225 448 - 30 30 Águas de Castilho 4,015 3,835 180 - 30 30 Attend Ambiental 21,521 19,469 2,052 - 45 45 Aquapolo Ambiental 55,025 50,196 4,829 - 49 49 Paulista Geradora de Energia 6,866 6,861 5 - 25 25 Cantareira SP Energia 5,242 5,212 30 - 49 49 FOXX URE-BA Ambiental 12,486 12,663 (60) (117) 20 20 Infranext Soluções em Pavimentação (***) - - - - 45 45 Total 139,412 130,520 9,009 (117) FOXX URE-BA Ambiental – Fair value (**) 25,018 25,244 Other investments 6,099 6,099 Overall total 170,529 161,863 (*) The amount presented refers to changes in the equity of the investee, as its financial statements for the year ended December 31, 2023 were issued after the disclosure of SABESP’s financial statements. (**) The amount presented refers to the fair value adjustment in the acquisition of FOXX URE-BA in 2024. (***) The amount of the investee’s loss exceeding the investment was reclassified to Noncurrent Liabilities. |
Investment Properties
Investment Properties | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Investment Properties | 12 Investment Properties Schedule of investment properties December 31, 2023 Depreciation March 31, 2024 Investment properties 46,678 (12) 46,666 December 31, 2022 Depreciation March 31, 2023 Investment properties 46,726 (12) 46,714 As of March 31, 2024, the market value of these properties was approximately R$ 393,600 393,600 |
Contract asset
Contract asset | 3 Months Ended |
Mar. 31, 2024 | |
Contract Asset | |
Contract asset | 13 Contract asset Schedule of contract assets December 31, 2023 Additions (i) Transfers Transfers of works to intangible assets (ii) March 31, 2024 (iii) Total contract asset 7,393,096 1,270,667 1,952 (1,082,990) 7,582,725 As of March 31, 2024 and December 31, 2023, the contract asset had no amounts recognized as leases. Leases were part of construction costs and, since June 2020, additional works had been executed by the Company. December 31, 2022 Additions Transfers Transfers of works to intangible assets March 31, 2023 Total contract asset 8,613,968 1,204,867 280 (1,105,061) 8,714,054 As of March 31, 2023, the contract asset included R$ 175,145 276,893 (i) The largest additions in the period were located in the municipalities of São Paulo, Guarulhos, and Itanhaém, totaling R$ 558 million, R$ 110 million, and R$ 43 million, respectively. (ii) The largest transfers in the period were located in the municipalities of São Paulo, Cajamar, and Arujá, totaling R$ 403 million, R$ 95 million, and R$ 63 million, respectively. (iii) The largest works were located in the municipalities of São Paulo, Guarulhos, and Francisco Morato, totaling R$ 2,207 million, R$ 320 million, and R$ 260 million, respectively. (a) Capitalization of interest and other finance charges The Company capitalizes interest, inflation adjustments, and exchange variations in the contract asset during the construction period. From January to March 2024, the Company capitalized R$ 154,395 167,802 (b) Construction margin The Company is primarily responsible for the construction and installation of the concession infrastructure, either by using its employees or contracting third parties, and is significantly exposed to its risks and benefits. Accordingly, the Company recognizes revenue from construction services corresponding to construction costs increased by gross margin. Constructions related to the concessions are usually performed by third parties. In such a case, the margin is lower to cover administration costs and the assumption of responsibility for primary risks. As of March 31, 2024 and 2023, the margin was 2.3%. From January to March 2024, the construction margin was R$ 30,046 26,519 (c) Expropriations As a result of the construction of priority projects related to water and sewage systems, the Company is required to expropriate third-party properties, whose owners are compensated either amicably or through court. The costs of such expropriations are recorded in the contract asset during the execution of the works. From January to March 2024, expropriations totaled R$ 6,750 4,015 |
Intangible assets
Intangible assets | 3 Months Ended |
Mar. 31, 2024 | |
Intangible Assets | |
Intangible assets | 14 Intangible assets (a) Statement of financial position details Schedule of financial position details March 31, 2024 December 31, 2023 Cost Accumulated amortization Net Cost Accumulated amortization Net Intangible right arising from: Concession agreements – equity value 754,555 (247,159) 507,396 747,925 (241,808) 506,117 Concession agreements – economic value 1,687,440 (1,085,649) 601,791 1,686,384 (1,048,624) 637,760 Concession agreements – new contracts 148,000 (1,644) 146,356 148,000 (411) 147,589 Program contracts 30,924,633 (9,874,351) 21,050,282 30,267,977 (9,583,480) 20,684,497 Program contracts – commitments 1,709,757 (510,973) 1,198,784 1,709,757 (497,731) 1,212,026 Service contracts – São Paulo 29,557,680 (9,318,616) 20,239,064 29,161,286 (8,967,701) 20,193,585 Software license of use 1,310,942 (822,184) 488,758 1,300,504 (787,280) 513,224 Right of use – Other assets 291,027 (64,336) 226,691 217,204 (99,144) 118,060 Total 66,384,034 (21,924,912) 44,459,122 65,239,037 (21,226,179) 44,012,858 (b) Changes Schedule of obligations assumed December 31, 2023 Additions Transfer of contract asset Transfers Write-offs and disposals Amortization March 31, 2024 Intangible right arising from: Concession agreements – equity value (*) 506,117 - 6,587 39 (20) (5,327) 507,396 Concession agreements – economic value 637,760 - 1,089 (4) - (37,054) 601,791 Concession agreements – new contracts 147,589 - - - - (1,233) 146,356 Program contracts (*) 20,684,497 181 663,509 (930) (606) (296,369) 21,050,282 Program contracts – commitments 1,212,026 - - - - (13,242) 1,198,784 Service contracts – São Paulo 20,193,585 - 404,279 (3,949) (132) (354,719) 20,239,064 Software license of use 513,224 2,911 7,526 1 - (34,904) 488,758 Right of use – Other assets 118,060 130,667 - - (46) (21,990) 226,691 Total 44,012,858 133,759 1,082,990 (4,843) (804) (764,838) 44,459,122 December 31, 2022 Additions Transfer of contract asset Transfers Write-offs and disposals Amortization March 31, 2023 Intangible right arising from: Concession agreements - equity value (*) 499,326 - 4,098 (955) (6) (4,994) 497,469 Concession agreements – economic value 652,039 - 2,589 331 (85) (30,249) 624,625 Program contracts (*) 18,337,459 2 569,717 (288) (2,055) (252,011) 18,652,824 Program contracts – commitments 1,264,992 - - - - (13,242) 1,251,750 Service contracts – São Paulo 17,870,451 - 513,453 (1,720) (1,056) (299,179) 18,081,949 Software license of use 595,404 - 15,204 - - (33,105) 577,503 Right of use – Other assets 75,052 320 - - (30) (17,261) 58,081 Right of use – Investments 26,148 - - (26,148) - - - Total 39,320,871 322 1,105,061 (28,780) (3,232) (650,041) 39,744,201 (*) As of March 31, 2023, Concession agreements – equity value, and Program contracts included leases totaling R$ 51,692 165,104 R$ 54,356 168,216 , respectively. As of June 30, 2020, a contract was signed for the provision of treatment services and final disposal of solid waste and collection of garbage tax in the Municipality of Diadema for 40 years. This contract is in the process of termination due to the interest of the Granting Authority in closing it. (c) Intangible right arising from concession agreements As of March 31, 2024, the amounts not yet disbursed were recorded in “Program contract commitments” under current and noncurrent liabilities, totaling R$ 20,986 12,139 21,969 12,047 (d) Public-Private Partnership - PPP SABESP carries out operations related to the São Lourenço PPP. Such transactions, along with their corresponding guarantees and obligations, are supported by a contract established based on Law 11,079/2004. In June 2008, SABESP and Alto Tietê PPP (SPAT Saneamento S/A) executed a service agreement for 15 years, with operations ending in October 2011 after conclusion of the works. The end of the obligations related to this PPP occurred in February 2024. The amounts recorded in intangible assets are as follows: Schedule of intangible assets March 31, 2024 December 31, 2023 Alto Tietê 231,146 235,224 São Lourenço 2,513,527 2,556,002 Total 2,744,673 2,791,226 As of March 31, 2024 and December 31, 2023, the obligations assumed by the Company are as follows: Schedule of obligations assumed by the company March 31, 2024 December 31, 2023 Current liabilities Noncurrent liabilities Total liabilities Current liabilities Noncurrent liabilities Total liabilities Alto Tietê - - - 52,762 - 52,762 São Lourenço 435,671 2,787,032 3,222,703 435,164 2,798,688 3,233,852 Total 435,671 2,787,032 3,222,703 487,926 2,798,688 3,286,614 (e) Amortization of Intangible Assets The average amortization rate totaled 5.1 5.0 (f) Leases and right of use Schedule of right of use Nature March 31, 2024 December 31, 2023 Leases - Concession and Program Contract Cost 582,617 588,600 Accumulated amortization (217,041) (213,921) (=) Net 365,576 374,679 Right of use – Other assets Vehicles 232,477 205,593 Properties 58,505 11,566 Equipment 45 45 Accumulated amortization (64,336) (99,144) (=) Net 226,691 118,060 Total - Leases and Right of use 592,267 492,739 The lease liability corresponds to total future fixed lease payments, adjusted to present value, considering an incremental rate on borrowings. For further information, see Note 16. The table below shows the impact on the Company’s result: Schedule of impact in the income statements Impact on the result March 31, 2024 March 31, 2023 Right of use amortization (25,110) (23,037) Financial result – interest expense and inflation adjustment (31,298) (18,127) Expenses of short-term leases with low value (3,151) (8,518) Reduction of profit for the period (59,559) (49,682) (g) Performance Agreements As of March 31, 2024, the accounting balances of the agreements in force recorded in contract asset and intangible assets were R$ 182,365 2,209,196 183,876 2,191,361 |
Property, plant and equipment
Property, plant and equipment | 3 Months Ended |
Mar. 31, 2024 | |
Property Plant And Equipment | |
Property, plant and equipment | 15 Property, plant and equipment (a) Statement of financial position details Schedule of statement of financial position details March 31, 2024 December 31, 2023 Cost Accumulated depreciation Net Annual average depreciation rate Cost Accumulated depreciation Net Annual average depreciation rate Land 94,228 - 94,228 - 94,228 - 94,228 - Buildings 126,959 (45,197) 81,762 2.2 125,672 (44,726) 80,946 2.2 Equipment 452,917 (318,950) 133,967 14.1 443,380 (313,193) 130,187 14.2 Transportation equipment 14,904 (10,810) 4,094 9.9 14,625 (10,384) 4,241 9.9 Furniture and fixtures 41,123 (16,328) 24,795 6.7 41,049 (15,876) 25,173 6.8 Other 147,120 (1,654) 145,466 6.5 140,548 (764) 139,784 6.5 Total 877,251 (392,939) 484,312 9.6 859,502 (384,943) 474,559 9.7 (b) Changes Schedule of changes in property, plant and equipment December 31, 2023 Additions Transfers Write-offs and disposals Depreciation March 31, 2024 Land 94,228 - - - - 94,228 Buildings 80,946 603 692 - (479) 81,762 Equipment 130,187 9,147 1,740 (109) (6,998) 133,967 Transportation equipment 4,241 - - - (147) 4,094 Furniture and fixtures 25,173 382 (223) (5) (532) 24,795 Other 139,784 5,779 682 - (779) 145,466 Total 474,559 15,911 2,891 (114) (8,935) 484,312 December 31, 2022 Additions Transfers Write-offs and disposals Depreciation March 31, 2023 Land 94,228 - - - - 94,228 Buildings 47,968 1,037 (85) - (296) 48,624 Equipment 120,865 16,881 87 (243) (6,235) 131,355 Transportation equipment 2,495 - 2,059 - (149) 4,405 Furniture and fixtures 23,496 3,027 291 (40) (391) 26,383 Other 49,887 10,009 - - (21) 59,875 Total 338,939 30,954 2,352 (283) (7,092) 364,870 |
Borrowings and financing
Borrowings and financing | 3 Months Ended |
Mar. 31, 2024 | |
Borrowings And Financing | |
Borrowings and financing | 16 Borrowings and financing Schedule of borrowings and financing outstanding Borrowings and financing outstanding balance March 31, 2024 December 31, 2023 Financial institution Current Noncurrent Total Current Noncurrent Total Local currency 12th issue debentures 56,517 - 56,517 45,450 22,385 67,835 18th issue debentures 40,975 - 40,975 46,962 - 46,962 22nd issue debentures 174,245 - 174,245 170,957 170616 341,573 23rd issue debentures 490,841 374,303 865,144 490,810 374,279 865,089 24th issue debentures - 523,163 523,163 - 512,122 512,122 26th issue debentures - 1,330,768 1,330,768 - 1,302,042 1,302,042 27th issue debentures 200,000 498,704 698,704 200,000 498,634 698,634 28th issue debentures 127,745 1,070,548 1,198,293 127,715 1,070,457 1,198,172 29th issue debentures - 1,332,090 1,332,090 - 1,314,136 1,314,136 30th issue debentures 124,988 748,275 873,263 125,000 873,231 998,231 31st issue debentures - 2,933,677 2,933,677 - - - Brazilian Federal Savings Bank 110,235 1,489,676 1,599,911 108,210 1,508,275 1,616,485 Brazilian Development Bank - BNDES PAC II 9751 7,295 14,519 21,814 7,286 16,316 23,602 Brazilian Development Bank - BNDES PAC II 9752 4,943 9,885 14,828 4,936 11,107 16,043 Brazilian Development Bank - BNDES ONDA LIMPA 27,223 - 27,223 27,219 6,766 33,985 Brazilian Development Bank – BNDES TIETÊ III 200,947 602,767 803,714 200,693 652,175 852,868 Brazilian Development Bank - BNDES 2015 34,189 351,960 386,149 34,146 360,021 394,167 Brazilian Development Bank - BNDES 2014 6,646 8,471 15,117 6,638 10,107 16,745 Inter-American Development Bank – IDB 2202 181,349 1,893,180 2,074,529 181,349 1,983,615 2,164,964 Inter-American Development Bank – IDB INVEST 41,760 794,125 835,885 39,550 814,840 854,390 Inter-American Development Bank – IDB INVEST 2022 14,100 438,305 452,405 14,100 438,241 452,341 Inter-American Development Bank – IDB INVEST 2023 14,100 447,808 461,908 14,100 447,791 461,891 International Finance Corporation - IFC 2022 22,800 714,139 736,939 22,800 713,910 736,710 International Finance Corporation - IFC 2023 - 987,006 987,006 - 986,651 986,651 Leases (Concession Agreements, Program Contracts, and Contract Asset) 106,362 206,075 312,437 49,884 259,326 309,210 Leases (others) 100,102 151,548 251,650 68,499 73,801 142,300 Other 3,006 2,161 5,167 3,003 2,910 5,913 Interest and other charges 379,694 - 379,694 377,398 - 377,398 Total in local currency 2,470,062 16,923,153 19,393,215 2,366,705 14,423,754 16,790,459 Borrowings and financing outstanding balance March 31, 2024 December 31, 2023 Financial institution Current Noncurrent Total Current Noncurrent Total Foreign currency Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand (US$ 20,556 thousand in December 2023) 51,351 25,676 77,027 49,759 49,759 99,518 Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand (US$ 152,187 thousand in December 2023) - 736,321 736,321 - 712,449 712,449 International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand (US$ 78,197 thousand in December 2023) 30,375 476,883 507,258 29,433 477,554 506,987 JICA 15 – ¥ 6,338,365 thousand (¥ 6,914,580 thousand in December 2023) 38,042 171,188 209,230 39,437 197,180 236,617 JICA 18 – ¥ 5,698,880 thousand (¥ 6,216,960 thousand in December 2023) 34,204 153,803 188,007 35,457 177,168 212,625 JICA 17 – ¥ 3,464,352 thousand (¥ 3,464,352 thousand in December 2023) 9,530 104,054 113,584 9,879 107,880 117,759 JICA 19 – ¥ 23,575,734 thousand (¥ 24,482,493 thousand in December 2023) 59,864 716,868 776,732 62,059 774,200 836,259 Interest and other charges 22,933 - 22,933 23,677 - 23,677 Total in foreign currency 246,299 2,384,793 2,631,092 249,701 2,496,190 2,745,891 Total borrowings and financing 2,716,361 19,307,946 22,024,307 2,616,406 16,919,944 19,536,350 Exchange rates as of March 31, 2024: US$ 4.9962 0.03301 4.8413 0.03422 As of March 31, 2024, the Company did not have balances of borrowings and financing raised during the year, maturing within 12 months. Schedule of borrowings terms Local currency Guarantees Maturity Annual interest rate Inflation adjustment 12th issue debentures Own funds 2025 TR + 9.5% 17th issue debentures Own funds 2023 CDI + 0.75% (series 1), 4.5% (series 2), and 4.75% (series 3) IPCA (series 2 and 3) 18th issue debentures Own funds 2024 TJLP + 1.92 % (series 1 and 3) and 8.25% (series 2) IPCA (series 2) 22nd issue debentures Own funds 2025 CDI + 0.58% (series 1) and CDI+ 0.90% (series 2) and 6.0% (series 3) IPCA (series 3) 23rd issue debentures Own funds 2027 CDI + 0.49% (series 1) and CDI+ 0.63% (series 2) 24th issue debentures Own funds 2029 3.20% (series 1) and 3.37% (series 2) IPCA (series 1 and 2) 26th issue debentures Own funds 2030 4.65% (series 1) and 4.95% (series 2) IPCA (series 1 and 2) 27th issue debentures Own funds 2027 CDI + 1.60% (series 1) and CDI+ 1.80% (series 2) and 2.25% (series 3) 28th issue debentures Own funds 2028 CDI + 1.20% (series 1) and CDI+ 1.44% (series 2) and 1.60% (series 3) 29th issue debentures Own funds 2036 CDI + 1.29% (series 1), 5.3058% (series 2), and 5.4478% (series 3) IPCA (series 2 and 3) 30th issue debentures Own funds 2029 CDI + 1.30% (series 1) and CDI+ 1.58% (series 2) 31st issue debentures Own funds 2034 CDI +0.49 (series 1) and CDI+1.10% (series 2) and CDI+1.31% (series 3) Brazilian Federal Savings Bank Own funds 2024/2042 5% to 9.5% TR Brazilian Development Bank - BNDES PAC II 9751 Own funds 2027 TJLP + 1.72% Brazilian Development Bank - BNDES PAC II 9752 Own funds 2027 TJLP + 1.72% Brazilian Development Bank - BNDES ONDA LIMPA Own funds 2025 TJLP + 1.92% Brazilian Development Bank – BNDES TIETÊ III Own funds 2028 TJLP + 1.66% Brazilian Development Bank - BNDES 2015 Own funds 2035 TJLP + 2.18% Brazilian Development Bank - BNDES 2014 Own funds 2026 TJLP + 1.76% Inter-American Development Bank – IDB 2202 Government 2035 CDI + 0.86% Inter-American Development Bank – IDB INVEST Own funds 2034 CDI+ 1.90% and CDI 2.70% Inter-American Development Bank – IDB INVEST 2022 Own funds 2036 CDI + 2.50% Inter-American Development Bank – IDB INVEST 2023 Own funds 2036 CDI + 0.50% International Finance Corporation - IFC Own funds 2032 CDI + 2.00% Leases (Concession Agreements, Program Contracts, and Contract Asset) 2035 7.73% to 10.12% IPC Leases (others) 2042 9.74% to 15.24% Other Own funds 2025 3% (FEHIDRO); TJLP + 1.5% (FINEP) Foreign currency Guarantees Maturity Annual interest rate Exchange variation Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand Government 2025 SOFR +5.13% US$ Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand Government 2044 SOFR + 6.55055% US$ International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand Government 2034 SOFR + 6.06% and 7.16% US$ JICA 15 – ¥ 6,338,365 thousand Government 2029 1.8% and 2.5% Yen JICA 18 – ¥ 5,698,880 thousand Government 2029 1.8% and 2.5% Yen JICA 17 – ¥ 3,464,352 thousand Government 2035 1.2% and 0.01% Yen JICA 19 – ¥ 23,575,734 thousand Government 2037 1.7% and 0.01% Yen (i) Payment schedule – accounting balances as of March 31, 2024 Schedule of borrowings payment 2024 2025 2026 2027 2028 2029 2030 to 2044 TOTAL LOCAL CURRENCY Debentures 905,061 1,328,730 1,217,890 1,387,314 665,375 1,304,027 3,218,442 10,026,839 Brazilian Federal Savings Bank 82,048 115,356 122,556 130,195 138,177 143,481 868,098 1,599,911 BNDES 210,955 260,803 250,860 238,124 84,351 34,189 189,563 1,268,845 IDBs - National 139,754 260,899 330,209 315,069 420,959 385,919 1,971,918 3,824,727 IFCs 22,800 44,200 61,800 80,800 123,600 181,600 1,209,145 1,723,945 Leases (Concession Agreements, Program Contracts, Contract Asset, and others) 151,818 133,170 64,062 22,899 58,917 19,012 114,209 564,087 Other 2,254 2,771 142 - - - - 5,167 Interest and other charges 304,965 74,729 - - - - - 379,694 TOTAL IN LOCAL CURRENCY 1,819,655 2,220,658 2,047,519 2,174,401 1,491,379 2,068,228 7,571,375 19,393,215 FOREIGN CURRENCY IDB 25,676 71,361 40,019 40,019 40,019 40,019 556,235 813,348 IBRD 15,188 30,375 30,375 30,375 30,375 41,525 329,045 507,258 JICA 75,585 141,639 141,639 141,639 141,639 141,526 503,886 1,287,553 Interest and other charges 19,741 3,192 - - - - - 22,933 TOTAL IN FOREIGN CURRENCY 136,190 246,567 212,033 212,033 212,033 223,070 1,389,166 2,631,092 Total 1,955,845 2,467,225 2,259,552 2,386,434 1,703,412 2,291,298 8,960,541 22,024,307 (II) Changes Schedule of changes in borrowings December 31, 2023 Addition (lease) Funding Borrowing costs Inflation adjustment and exchange rate changes Inflation adjustment / exchange rate change and incorporated interest- Capitalized Interest paid Amortization Accrued interest Provision for interest and fees - Capitalized Expenses with borrowing costs March 31, 2024 LOCAL CURRENCY Debentures 7,534,818 - 2,940,478 (7,319) 51,281 10,953 (166,538) (316,082) 151,082 36,657 2,731 10,238,061 Brazilian Federal Savings Bank 1,621,014 - 7,857 - 1,653 412 (31,269) (26,495) 25,167 6,056 - 1,604,395 BNDES 1,341,472 - - - 1,096 553 (24,734) (70,274) 16,743 8,191 59 1,273,106 IDB 2202 2,252,742 - - - - - (132,871) (90,674) 34,753 27,317 239 2,091,506 IDB INVEST 2020 900,367 - - - - - (61,148) (18,670) - 28,095 165 848,809 IFC 2022 757,297 - - - - - - - 8,217 15,647 229 781,390 IFC 2023 1,006,642 - - - - - - - 10,690 20,362 355 1,038,049 IDB INVEST 2022 454,543 - - - - - - - 14,842 - 64 469,449 IDB INVEST 2023 464,131 - - - - - - - 15,038 - 17 479,186 Leases (Concession Agreements, Program Contracts, and Contract Asset) 309,210 - - - - - (27,329) - 30,556 - - 312,437 Leases (others) 142,300 130,666 - - - - (30,193) 8,877 - - 251,650 Other 5,923 - - - 6 - (92) (751) 90 1 - 5,177 TOTAL IN LOCAL CURRENCY 16,790,459 130,666 2,948,335 (7,319) 54,036 11,918 (443,981) (553,139) 316,055 142,326 3,859 19,393,215 FOREIGN CURRENCY IDBs 819,455 - - - 26,441 - (2,457) (25,359) 13,639 - 298 832,017 IBRD 515,015 - - (1,321) 16,589 - (16,507) (15,133) 10,076 3 139 508,861 JICA 1,411,421 - - - (49,365) - (10,651) (66,395) 5,005 148 51 1,290,214 TOTAL IN FOREIGN CURRENCY 2,745,891 - - (1,321) (6,335) - (29,615) (106,887) 28,720 151 488 2,631,092 Total 19,536,350 130,666 2,948,335 (8,640) 47,701 11,918 (473,596) (660,026) 344,775 142,477 4,347 22,024,307 December 31, 2022 Addition (lease) Funding Borrowing costs Inflation adjustment and exchange rate changes Inflation adjustment / exchange rate change and incorporated interest- Capitalized Interest paid Amortization Accrued interest Provision for interest and fees - Capitalized Expenses with borrowing costs March 31, 2023 LOCAL CURRENCY Debentures 8,166,366 - - (516) 60,883 5,463 (206,330) (363,123) 162,197 46,336 2,859 7,874,135 Brazilian Federal Savings Bank 1,526,185 - 50,852 - 6,250 1,718 (29,853) (27,891) 23,539 6,393 - 1,557,193 BNDES 1,380,993 - - - 3,354 984 (25,753) (61,940) 19,891 5,670 65 1,323,264 IDB 2202 2,450,550 - - - - - (165,514) (90,674) 26,253 58,942 239 2,279,796 IDB INVEST 943,619 - - - - - (71,521) (18,670) 22,661 12,244 166 888,499 IFC 774,525 - - - - - - - - 29,484 228 804,237 IDB INVEST 2022 469,327 - - - - - - - 18,405 - 64 487,796 Leases (Concession Agreements, Program Contracts, and Contract Asset) 357,844 - - - - - (13,603) (10,873) 13,603 - - 346,971 Leases (others) 101,374 320 - - - - (4,523) (20,389) 9,047 - - 85,829 Other 12,130 - 3,629 - 22 - (161) (1,581) 160 2 - 14,201 TOTAL IN LOCAL CURRENCY 16,182,913 320 54,481 (516) 70,509 8,165 (517,258) (595,141) 295,756 159,071 3,621 15,661,921 FOREIGN CURRENCY IDBs 532,693 - 50,342 - (15,365) - (2,474) (26,343) 5,062 - 237 544,152 IBRD 399,762 - 18,892 (1,588) (10,585) - (10,061) (16,014) 8,691 56 106 389,259 JICA 1,803,109 - - - (56,819) - (14,057) (78,741) 6,635 289 51 1,660,467 IDB 1983AB 40,194 - - - (1,056) - - - 661 221 104 40,124 TOTAL IN FOREIGN CURRENCY 2,775,758 - 69,234 (1,588) (83,825) - (26,592) (121,098) 21,049 566 498 2,634,002 Total 18,958,671 320 123,715 (2,104) (13,316) 8,165 (543,850) (716,239) 316,805 159,637 4,119 18,295,923 (a) Main events in the three-month period ended March 31, 2024 Debentures As of March 05, 2024, the Company raised R$ 2,940.5 Schedule of debentures Value Rate Maturity Series 1 507,000 CDI + 0.49 2029 Series 2 1,734,467 CDI + 1.10 2031 Series 3 699,011 CDI + 1.31 2034 Total 2,940,478 · The covenants agreed upon for the 31st issue are: Calculated every quarter, when disclosing the quarterly information or annual financial statements: - Net debt/adjusted EBITDA lower than or equal to 3.50; - Adjusted EBITDA/financial expenses equal to or higher than 1.5; Failure to comply with the financial indices above for at least two consecutive quarters, or for two non-consecutive quarters within twelve months (in which case the 30-day cure period does not apply), constitutes a default event that may lead to the early maturity of the Debentures.- Disposal of operating assets, termination of licenses, loss of concession or loss of the Company’s ability to execute and operate public sanitation services in areas of the São Paulo State which, individually or jointly during the term of the agreement, lead to a reduction of the Company’s net sales and/or service revenue of more than twenty- five percent (25%). The above limit will be calculated every quarter, taking into consideration the Company’s net operating income during the twelve (12) months before the end of each quarter and using the financial information disclosed by the Company. Failure to comply with the limit above constitutes a default event that may lead to the early maturity of the Debentures. The contract has a cross acceleration clause, i.e. the early maturity of any of the Company’s debts, in an individual or aggregate amount equal to or higher than R$ 198 million, adjusted by the IPCA inflation index as of the issue date, constitutes a default event and may result in the early maturity of the Debentures. The proceeds from the issue will be used to refinance financial commitments falling due in 2024 and to recompose and reinforce the cash position. The Debentures are characterized as “ESG bonds for the use of sustainable and blue resources”, based on the Company’s commitment to allocate the equivalent amount in projects described in the Sustainable Finance Framework. (b) Lease The Company has lease agreements signed as Assets Lease. During the construction period, work costs are capitalized to contract assets and the lease amount is recorded in the same proportion. After startup, the lease payment period starts (240 monthly installments), and the amount is periodically restated by the contracted price index. The amounts payable for the right of use of assets are also recorded in this line. See Note 14 (f). (c) Covenants The table below shows the most restrictive covenants ratios as of March 31, 2024. Schedule of restrictive covenants ratios Covenants Adjusted EBITDA / Adjusted Financial Expenses Equal to or higher than 2.80 EBITDA / Financial Expenses Paid Equal to or higher than 2.35 Adjusted Net Debt / Adjusted EBITDA Equal to or lower than 3.80 Net Debt / Adjusted EBITDA Equal to or lower than 3.50 Other Onerous Debt (1) Equal to or lower than 1.30 Adjusted Current Ratio Higher than 1.00 (1) The contractual definition of “Other Onerous Debts” corresponds to the sum of pension plan obligations and healthcare plan, installment payments of tax debts, and installment payments of debts with the electricity supplier. As of March 31, 2024, and December 31, 2023, the Company met the requirements set forth by its borrowings and financing agreements. (d) Borrowings and financing – Credit limited Schedule of borrowing and financing credit limited Agent March 31, 2024 (in millions of reais (*)) Brazilian Federal Savings Bank 926 Brazilian Development Bank (BNDES) 30 Inter-American Development Bank (IDB) 739 International Bank for Reconstruction and Development (IBRD) 1,032 Other 7 TOTAL 2,734 (*) Brazilian Central Bank’s exchange rate as of March 31, 2024 (US$ 1.00 = R$ 4.9962; ¥ 1.00 = R$ 0.03301). Financing resources contracted have specific purposes and are released for the execution of their respective investments, according to the progress of the works. |
Taxes and contributions
Taxes and contributions | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Taxes and contributions | 17 Taxes and contributions (a) Current assets Schedule of current assets March 31, 2024 December 31, 2023 Recoverable taxes Income tax and social contribution 272,364 462,642 Withheld income tax (IRRF) on financial investments 53,587 29,955 Other federal taxes 2,222 2,050 Total 328,173 494,647 (b) Current liabilities Schedule of current liabilities March 31, 2024 December 31, 2023 Taxes and contributions payable Income tax and social contribution 389,712 205,964 Cofins and Pasep 137,048 141,703 INSS (social security contribution) 42,136 44,556 IRRF (withholding income tax) 5,512 64,770 Other 44,620 54,979 Total 619,028 511,972 |
Deferred taxes and contribution
Deferred taxes and contributions | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Deferred taxes and contributions | 18 Deferred taxes and contributions (a) Statement of financial position details Schedule of deferred taxes March 31, 2024 December 31, 2023 Deferred income tax assets Provisions 678,996 666,131 Pension plan obligations - G1 132,543 135,231 Donations of underlying assets on concession agreements 44,594 45,140 Allowance for doubtful accounts 190,726 182,519 Other 376,281 382,767 Total deferred tax asset 1,423,140 1,411,788 Deferred income tax liabilities Temporary difference on concession of intangible asset (325,461) (329,060) Capitalization of borrowing costs (466,374) (465,510) Profit on supply to government entities (347,379) (348,514) Actuarial gain – G1 Plan (121,425) (121,425) Construction margin (39,893) (40,579) Borrowing costs (7,323) (8,624) Total deferred tax liabilities (1,307,855) (1,313,712) Deferred tax asset, net 115,285 98,076 (b) Changes Schedule of changes Deferred income tax assets December 31, 2023 Net change March 31, 2024 Provisions 666,131 12,865 678,996 Pension plan obligations - G1 135,231 (2,688) 132,543 Donations of underlying assets on concession agreements 45,140 (546) 44,594 Allowance for doubtful accounts 182,519 8,207 190,726 Other 382,767 (6,486) 376,281 Total 1,411,788 11,352 1,423,140 Deferred income tax liabilities Temporary difference on concession of intangible asset (329,060) 3,599 (325,461) Capitalization of borrowing costs (465,510) (864) (466,374) Profit on supply to government entities (348,514) 1,135 (347,379) Actuarial gain – G1 (121,425) - (121,425) Construction margin (40,579) 686 (39,893) Borrowing costs (8,624) 1,301 (7,323) Total (1,313,712) 5,857 (1,307,855) Deferred tax asset, net 98,076 17,209 115,285 Deferred income tax assets December 31, 2022 Net change March 31, 2023 Provisions 560,404 12,715 573,119 Pension plan obligations - G1 141,606 (4,774) 136,832 Donations of underlying assets on concession agreements 46,088 (288) 45,800 Allowance for doubtful accounts 199,363 (6,693) 192,670 Other 171,798 (2,221) 169,577 Total 1,119,259 (1,261) 1,117,998 Deferred income tax liabilities Temporary difference on concession of intangible asset (353,817) 3,498 (350,319) Capitalization of borrowing costs (457,669) (7,785) (465,454) Profit on supply to government entities (346,650) 1,390 (345,260) Actuarial gain – G1 (93,561) - (93,561) Construction margin (43,323) 686 (42,637) Borrowing costs (13,517) 1,227 (12,290) Total (1,308,537) (984) (1,309,521) Deferred tax liability, net (189,278) (2,245) (191,523) (c) Reconciliation of the effective tax rate The amounts recorded as income tax and social contribution expenses in the financial statements are reconciled to the statutory rates, as shown below: Schedule of reconciliation of the effective tax rate January to March 2023 January to March 2024 Profit before income taxes 1,132,945 1,323,860 Statutory rate 34 34 Estimated expense at statutory rate (385,201) (450,112) Permanent differences: Provision Law 4,819/1958 – G0 (i) (10,772) (6,555) Donations (1,065) (1,093) Agreement with AAPS - (55,212) Other differences 11,305 12,407 Income tax and social contribution (385,733) (500,565) Current income tax and social contribution (383,488) (517,774) Deferred income tax and social contribution (2,245) 17,209 Effective rate 34 38 (i) Permanent difference related to the provision for the actuarial liability. See Note 21 (ii) and (v). |
Provisions
Provisions | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Provisions Abstract | |
Provisions | 19 Provisions (a) Lawsuits and proceedings that resulted in provisions (I) Statement of financial position details The Company is a party to several legal claims and administrative proceedings arising from the normal course of business, including civil, tax, labor, and environmental matters. Management recognizes provisions consistently with the recognition and measurement criteria established in Note 3.16 to the Annual Financial Statements as of December 31, 2023. The terms and payment amounts are defined based on the outcome of these lawsuits. Schedule of lawsuits and proceedings that resulted in provisions March 31, 2024 December 31, 2023 Provisions Escrow deposits Provisions net of deposits Provisions Escrow deposits Provisions net of deposits Customer claims (i) 169,058 (6,003) 163,055 175,255 (6,060) 169,195 Supplier claims (ii) 338,580 (93,833) 244,747 334,273 (90,973) 243,300 Other civil claims (iii) 140,447 (1,301) 139,146 128,036 (1,229) 126,807 Tax claims (iv) 114,215 (18,577) 95,638 101,770 (18,223) 83,547 Labor claims (v) 723,968 (14,077) 709,891 727,133 (16,235) 710,898 Environmental claims (vi) 510,781 (57) 510,724 492,740 (55) 492,685 Total 1,997,049 (133,848) 1,863,201 1,959,207 (132,775) 1,826,432 Current 1,085,976 - 1,085,976 1,064,367 - 1,064,367 Noncurrent 911,073 (133,848) 777,225 894,840 (132,775) 762,065 (II) Changes Schedule of changes in provisions December 31, 2023 Additional provisions Interest and inflation adjustment Use of the accrual Amounts not used (reversal) March 31, 2024 Customer claims (i) 175,255 965 5,043 (12,189) (16) 169,058 Supplier claims (ii) 334,273 2,027 8,957 (2,741) (3,936) 338,580 Other civil claims (iii) 128,036 23,512 5,480 (15,564) (1,017) 140,447 Tax claims (iv) 101,770 11,967 4,805 (101) (4,226) 114,215 Labor claims (v) 727,133 18,517 13,098 (16,498) (18,282) 723,968 Environmental claims (vi) 492,740 10,667 21,650 - (14,276) 510,781 Subtotal 1,959,207 67,655 59,033 (47,093) (41,753) 1,997,049 Escrow deposits (132,775) (1,899) (2,580) 1,816 1,590 (133,848) Total 1,826,432 65,756 56,453 (45,277) (40,163) 1,863,201 December 31, 2022 Additional provisions Interest and inflation adjustment Use of the accrual Amounts not used (reversal) March 31, 2023 Customer claims (i) 151,023 1,918 3,790 (21,540) (1,158) 134,033 Supplier claims (ii) 257,080 1,992 5,552 (1,042) - 263,582 Other civil claims (iii) 99,462 5,701 7,154 (3,478) (3,793) 105,046 Tax claims (iv) 79,532 11,039 1,658 (7) (455) 91,767 Labor claims (v) 654,277 9,894 13,486 (5,799) (14,450) 657,408 Environmental claims (vi) 406,872 22,400 18,655 - (14,117) 433,810 Subtotal 1,648,246 52,944 50,295 (31,866) (33,973) 1,685,646 Escrow deposits (37,462) (271) (696) 533 1,461 (36,435) Total 1,610,784 52,673 49,599 (31,333) (32,512) 1,649,211 (b) Lawsuits deemed as contingent liabilities The Company is a party to lawsuits and administrative proceedings relating to environmental, tax, civil, and labor claims, which are assessed as contingent liabilities in the financial statements, since it either does not expect outflows to be required or the amount of the obligations cannot be reliably measured. Contingent liabilities, net of deposits, are represented as follows: Schedule of lawsuits deemed as contingent liabilities March 31, 2024 December 31, 2023 Customer claims (i) 161,784 158,584 Supplier claims (ii) 1,005,785 968,752 Other civil claims (iii) 644,852 695,097 Tax claims (iv) 1,156,487 1,067,350 Labor claims (v) 3,332,929 3,093,735 Environmental claims (vi) 4,316,366 4,158,504 Total 10,618,203 10,142,022 (c) Explanation of the nature of main classes of lawsuits (i) Customer claims Refer mainly to lawsuits from customers claiming that their tariffs should be equal to those of other consumer categories, lawsuits for reduction of sewage tariff due to system losses, consequently requiring the refund of amounts charged by the Company, and lawsuits for reduction of tariff for being eligible to the Social Welfare Entity category. (ii) Supplier claims Include lawsuits filed by some suppliers alleging underpayment of inflation adjustments and economic and financial imbalance of the agreements, and are in progress at different courts. (iii) Other civil claims Refer mainly to indemnities for property damage, pain and suffering, and loss of profits allegedly caused to third parties, such as vehicle accidents, claims, and challenges on the methodology to collect tariffs, among others, filed at different court levels. (iv) Tax claims Tax claims refer mainly to tax collections and fines in general challenged due to disagreements regarding notification or differences in the interpretation of legislation by the Company's Management. (v) Labor claims The Company is a party to several labor lawsuits, involving issues such as overtime, shift schedule, health hazard premium and hazardous duty premium, prior notice, change of function, salary equalization, service outsourcing, and others, which are at various court levels. (vi) Environmental claims These refer to several administrative proceedings and lawsuits filed by government entities, including Companhia Ambiental do Estado de São Paulo (CETESB) and the Public Prosecution Office of the São Paulo State, which aim at certain obligations to do and not to do, with the provision of fines for non-compliance and imposition of compensation for environmental damages allegedly caused by the Company. The main objects in which the Company is involved are: a) blame SABESP for discharging or releasing sewage without proper treatment; b) invest in the water and sewage treatment system of the municipality, under penalty of paying a fine; c) pay compensation for environmental damages; amongst others. (d) Guarantee insurance As of May 24, 2023, the Company executed an agreement effective for one year for the issue of policies under several types of guarantee insurance. The limit that can be used is R$ 600 199.7 |
Labor liabilities and pension p
Labor liabilities and pension plan obligations | 3 Months Ended |
Mar. 31, 2024 | |
Labor Liabilities And Pension Plan Obligations | |
Labor liabilities and pension plan obligations | 20 Labor liabilities and pension plan obligations Schedule of employees benefits March 31, 2024 December 31, 2023 Salaries and payroll charges 37,337 69,885 Provision for vacation 245,218 256,415 Provision for Christmas bonus 21,325 - Healthcare plan (i) 117,551 86,147 Provision for profit sharing (ii) 122,353 97,514 Incentivized Dismissal Program - IDP (iii) 192,626 290,202 Consent Decree (TAC) 5,161 6,093 Knowledge Retention Program (KRP) 1,016 1,184 Total 742,587 807,440 (i) Healthcare plan Benefits granted are paid after the event, free of choice, and are sponsored by the contributions of SABESP and the employees. In the first quarter of 2024, the Company contributed 8.7%, on average, of gross payroll, totaling R$ 66,605 (9.8% in the first quarter of 2023, totaling R$ 75,505). The agreement entered into between SABESP and AAPS (Sabesp’s Association of Retirees and Pensioners) regarding financial compensation for 60 months for the VIVEST health plan operator regarding the migration of retirees, former employees, pensioners, and dependents between health plans is recorded in this line. Until the ratification of the agreement, SABESP was responsible for transferring to VIVEST the amounts referring to deficits in the health plans of retirees, former employees, pensioners, and dependents, and for ensuring that each individual reimbursed the Company for the deficit. In the first quarter of 2024, the Company recognized the obligations related to the agreement, considering the entire population migrated or those in negotiations for migration, with a total impact of R$ 162,388 10,237 31,206 120,945 (ii) Provision for profit sharing Based on an agreement with the labor union, the Profit Sharing Program corresponds to up to one month’s salary for each employee, depending on the achievement of the goals established, from January to December, and should be paid in the subsequent year. (iii) Incentivized Dismissal Program - IDP In June 2023, the Company implemented the Incentivized Dismissal Program (PDI or Program) to pacifically reduce the workforce and provide gains in efficiency, increase of competitiveness, and optimization of costs (further details in Note 21 to the Annual Financial Statements as of December, 31, 2023). As of March 31, 2024, R$ 250,054 192,626 57,428 |
Pension plan obligations
Pension plan obligations | 3 Months Ended |
Mar. 31, 2024 | |
Pension Plan Obligations | |
Pension plan obligations | 21 Pension plan obligations The Company has Post-Employment Benefit Plans in the following modalities: Defined Benefit (BD) – G1 (i) and G0 (ii); and Defined Contribution (CD) – Sabesprev Mais (iii) and VIVEST (iv), whereby only the latter is open for new adhesions. See the reconciliation of expenses with such plans in item (v). Defined benefit plans Summary of pension plan obligations- Liabilities Schedule of pension plan benefits G1 Plan G0 Plan Total Pension plan obligations as of December 31, 2023 (44,249) (2,098,622) (2,142,871) (Expenses) recognized in 2024 (1,560) (47,319) (48,879) Payments made in 2024 10,096 50,424 60,520 Pension plan obligations as of March 31, 2024 (35,713) (2,095,517) (2,131,230) G1 Plan G0 Plan Total Pension plan obligations as of December 31, 2022 (148,116) (2,002,075) (2,150,191) (Expenses) / revenues recognized in 2023 4,384 (56,305) (51,921) Payments made in 2023 10,124 48,200 58,324 Pension plan obligations as of March 31, 2023 (133,608) (2,010,180) (2,143,788) (i) G1 Plan The defined benefit plan (“G1 Plan”) managed by SABESPREV receives similar contributions established in a plan of subsidy of actuarial study of SABESPREV, as follows: · 0.99% of the portion of the salary of participation up to 20 salaries; and · 8.39% of the surplus, if any, of the portion of the salary of participation over 20 salaries. (ii) G0 Plan According to State Law 4,819/1958, employees who started providing services before May 1974 acquired a legal right to receive supplemental pension payments, which rights are referred to as "G0 Plan". The Company pays supplemental retirement and pension amounts on behalf of the São Paulo State and seeks reimbursements of such amounts, which are recorded in the “Balances with related parties” line, limited to the amounts considered virtually certain to be reimbursed by the São Paulo State. (iii) Sabesprev Mais Plan Managed by SABESPREV, the sponsor's contributions correspond to the result obtained by applying a percentage of 100% to the basic contribution made by the participant. (iv) VIVEST Plan Managed by VIVEST, the sponsor's contributions correspond to the result obtained by applying a percentage of 100% to the basic contribution made by the participant. (v) Reconciliation of expenditures with pension plan obligations Schedule of reconciliation of expenses with pension obligations March 31, 2024 March 31, 2023 G1 Plan (i) 1,560 (4,384) G0 Plan (ii) 47,319 56,305 Sabesprev Mais Plan (iii) 6,750 6,603 VIVEST Plan (iv) 189 84 Subtotal 55,818 58,608 Capitalized (1,150) (764) Reimbursement of additional retirement and pension benefits paid (G0) (28,040) (24,622) Other 1,508 1,441 Pension plan obligations (Note 27) 28,136 34,663 |
Services payable
Services payable | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Services payable | 22 Services payable This line records the balances payable, mainly from services received from third parties, such as the supply of electric power, reading of hydrometers and delivery of water and sewage bills, cleaning, surveillance and security services, collection, legal counsel services, audit, marketing, and advertising and consulting services, among others. The amounts payable to the municipal governments related to transfers provided for in the concession agreements are also recorded. The parent company’s balances as of March 31, 2024, and December 31, 2023, were R$ 836,294 749,226 838,703 750,732 |
Equity
Equity | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Equity Abstract | |
Equity | 23 Equity (a) Share capital As of March 31, 2024, and December 31, 2023, the authorized, subscribed, and paid-in capital, totaling R$ 15,000,000 683,509,869 Schedule of share capital March 31, 2024 December 31, 2023 Number of shares % Number of shares % São Paulo State 343,506,664 50.3 343,506,664 50.3 Other shareholders In Brazil (1) 266,922,203 39.0 257,339,417 37.6 Abroad (2) 73,081,002 10.7 82,663,788 12.1 Total 683,509,869 100.0 683,509,869 100.0 (1) As of March 31, 2024, the common shares traded in Brazil were held by 49,847 shareholders. It includes six shares held by Cia Paulista de Parcerias – CPP, a company controlled by the São Paulo State Government. (2) Shares traded as American Depositary Receipts (ADR) on the New York Stock Exchange, through The Bank New York Mellon, the depositary bank of the Company’s ADRs. (b) Interest on capital The Annual Shareholders’ Meeting of April 25, 2024, approved the distribution of dividends as interest on capital totaling R$ 836,839 147,689 984,528 |
Earnings per share
Earnings per share | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Earnings per share | 24 Earnings per share Basic and diluted Basic earnings per share are calculated by dividing the equity attributable to owners by the weighted average number of outstanding common shares during the period. The Company does not have potentially dilutive common shares outstanding or debts convertible into common shares. Accordingly, basic and diluted earnings per share are equal. Schedule of earning per share basic and diluted January to March 2024 January to March 2023 Profit attributable to the Company’s owners 823,295 747,212 Weighted average number of common shares issued 683,509,869 683,509,869 Basic and diluted earnings per share (reais per share) 1.20451 1.09320 |
Operating segment information
Operating segment information | 3 Months Ended |
Mar. 31, 2024 | |
Operating Segment Information | |
Operating segment information | 25 Operating segment information The Company’s Management, composed of the Board of Directors and the Executive Board, has determined the operating segment used to make strategic decisions, such as sanitation services. Result Schedule of operating segment information January to March 2024 Sanitation (i) Reconciliation to the income statement (ii) Balance according to the financial statements Gross operating revenue 5,661,099 1,336,778 6,997,877 Gross sales deductions (437,631) - (437,631) Net operating revenue 5,223,468 1,336,778 6,560,246 Costs, selling, general, and administrative expenses (3,607,447) (1,306,723) (4,914,170) Income from operations before other operating expenses, net and equity accounting 1,616,021 30,055 1,646,076 Other operating income (expenses), net 7,086 Equity results of investments 8,893 Financial result, net (338,195) Income from operations before taxes 1,323,860 Depreciation and amortization (773,785) - (773,785) January to March 2023 Sanitation (i) Reconciliation to the income statement (ii) Balance according to the financial statements Gross operating revenue 4,909,274 1,179,534 6,088,808 Gross sales deductions (390,439) - (390,439) Net operating revenue 4,518,835 1,179,534 5,698,369 Costs, selling, general, and administrative expenses (3,173,849) (1,153,015) (4,326,864) Income from operations before other operating expenses, net and equity accounting 1,344,986 26,519 1,371,505 Other operating income (expenses), net 14,634 Equity results of investments 6,334 Financial result, net (259,528) Income from operations before taxes 1,132,945 Depreciation and amortization (657,145) - (657,145) (i) See Note 31 for further information about non-cash items, other than depreciation and amortization that impact segment results, and for additional information on long-lived assets. (ii) Construction revenue and related costs are not reported to the CODM. Revenue from construction is recognized under IFRIC 12 (Concession Agreements) and IFRS 15 (Revenue from Contracts with Customers), as all performance obligations are met over time. See Note 13 (b) for further information. |
Operating revenue
Operating revenue | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Operating revenue | 26 Operating revenue Reconciliation from gross operating revenue to net operating revenue: Schedule of reconciliation from gross operating revenue to net operating revenue January to March 2024 January to March 2023 Revenue from sanitation services (i) 5,661,099 4,909,274 Construction revenue 1,336,778 1,179,534 Sales tax (410,786) (370,298) Regulation, Control and Oversight Fee (TRCF) (26,845) (20,141) Net revenue 6,560,246 5,698,369 (i) Includes R$ 28,406 from the TRCF charged from customers from January to March 2024 (R$ 24,019 from January to March 2023), referring to the municipalities regulated by ARSESP. |
Operating costs and expenses
Operating costs and expenses | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Operating costs and expenses | 27 Operating costs and expenses Schedule of operating costs and expenses January to March 2024 January to March 2023 Operating costs Salaries, payroll charges, and benefits (505,690) (583,855) Pension plan obligations (5,810) (1,656) Construction costs (Note 25) (1,306,723) (1,153,015) General supplies (113,440) (85,831) Treatment supplies (141,370) (164,899) Outsourced services (504,745) (435,484) Electricity (393,822) (395,026) General expenses (283,516) (227,169) Depreciation and amortization (720,311) (606,788) (3,975,427) (3,653,723) Selling expenses Salaries, payroll charges, and benefits (62,115) (70,517) Pension plan obligations (840) (185) General supplies (1,859) (1,067) Outsourced services (101,066) (109,177) Electricity (210) (191) General expenses (26,628) (27,626) Depreciation and amortization (17,369) (16,894) (210,087) (225,657) Bad debt expense, net of recoveries (Note 9 (c)) (190,518) (162,805) Administrative expenses Salaries, payroll charges, and benefits (112,499) (55,142) Pension plan obligations (21,486) (32,822) General supplies 24,510 (601) Outsourced services (77,011) (80,267) Electricity (372) (583) General expenses (294,810) (60,011) Depreciation and amortization (36,105) (33,463) Tax expenses (20,365) (21,790) (538,138) (284,679) Operating costs and expenses Salaries, payroll charges, and benefits (680,304) (709,514) Pension plan obligations (Note 21 (v)) (28,136) (34,663) Construction costs (Note 25) (1,306,723) (1,153,015) General supplies (90,789) (87,499) Treatment supplies (141,370) (164,899) Outsourced services (682,822) (624,928) Electricity (394,404) (395,800) General expenses (604,954) (314,806) Depreciation and amortization (773,785) (657,145) Tax expenses (20,365) (21,790) Bad debt expense, net of recoveries (Note 9 (c)) (190,518) (162,805) (4,914,170) (4,326,864) |
Financial income (expenses)
Financial income (expenses) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Financial income (expenses) | 28 Financial income (expenses) Schedule of financial income (expenses) January to March 2024 January to March 2023 Financial expenses Interest and charges on borrowings and financing – local currency (276,622) (273,106) Interest and charges on borrowings and financing – foreign currency (28,720) (21,049) Other financial expenses (175,160) (101,732) Inflation adjustment on borrowings and financing (54,036) (70,509) Other inflation adjustments (13,265) (50,463) Interest and inflation adjustment on provisions (44,300) (45,612) Total financial expenses (592,103) (562,471) Financial revenue Inflation adjustment gains 55,881 60,314 Income on financial investments 110,375 103,217 Interest income 92,932 66,560 Cofins and Pasep (11,615) (10,788) Other 2 17 Total financial income 247,575 219,320 Financial income (expenses), net of exchange rate changes (344,528) (343,151) Exchange gain (losses) Exchange rate changes on borrowings and financing 6,335 83,825 Exchange rate changes on assets 1 (201) Other exchange rate changes (3) (1) Exchange rate changes, net 6,333 83,623 Financial income (expenses) (338,195) (259,528) |
Other operating income (expense
Other operating income (expenses), net | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Other operating income (expenses), net | 29 Other operating income (expenses), net Schedule of operating income (expenses), net January to March 2024 January to March 2023 Other operating income, net 10,291 20,352 Other operating expenses (3,205) (5,718) Other operating income (expenses), net 7,086 14,634 Other operating income includes revenue from the sale of property, plant and equipment, contracts awarded in public bids, right to sell electricity, indemnities and reimbursement of expenses, fines and guarantees, property leases, reuse water, PURA projects and services, net of Cofins and Pasep. Other operating expenses usually record the derecognition of concession assets due to obsolescence, discontinued construction works, unproductive wells, projects considered economically unfeasible, losses on property, plant and equipment, estimated losses, and operational assets indemnification. |
Commitments
Commitments | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Commitments | 30 Commitments The Company has agreements to manage and maintain its activities, as well as to build new projects aiming at achieving the objectives proposed in its target plan. The main unrecognized committed amounts as of March 31, 2024 are as follows: Schedule of commitments 1 year 1-3 years 3-5 years More than 5 years Total Contractual obligations – Expenses 1,854,851 2,319,376 1,377,556 4,349,060 9,900,843 Contractual obligations - Investments 4,174,937 2,719,760 1,136,509 82,392 8,113,598 Total 6,029,788 5,039,136 2,514,065 4,431,452 18,014,441 |
Supplemental cash flow informat
Supplemental cash flow information | 3 Months Ended |
Mar. 31, 2024 | |
Supplemental Cash Flow Information | |
Supplemental cash flow information | 31 Supplemental cash flow information Schedule of Supplemental cash flow information January to March 2024 January to March 2023 Total additions to contract assets (Note 13) 1,270,667 1,204,867 Total additions to intangible assets (Note 14 (b)) 133,759 322 Items not affecting cash (see breakdown below ) (833,016) (634,857) Total additions to intangible and contract assets according to the statement of cash flows 571,410 570,332 Investments and financing operations affecting intangible assets but not cash: Interest capitalized in the period (Note 13 (a)) 154,395 167,802 Contractors payable 453,671 240,833 Performance agreements 64,229 199,383 Right of use 130,666 320 Construction margin (Note 25) 30,055 26,519 Total 833,016 634,857 |
Events after the reporting peri
Events after the reporting period | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Events after the reporting period | 32 Events after the reporting period · Tariff adjustment As of April 08, 2024, the São Paulo State Utility Services Regulatory Agency (ARSESP) disclosed Resolution 1,514/2024, authorizing the Company to apply the tariff adjustment of 6.4469 · Methodology and criteria for asset reversal As of April 15, 2024, ARSESP disclosed Resolution 1,515/2024, which included the methodology and criteria for reversal and possible indemnification of assets at the end of the concessions of the Basic Sanitation sector. · Privatization process As of April 17, 2024, the Board of the State Privatization Program (CDPED), together with the Management Council of the State Public-Private Partnership (CGPPP) approved the final model for the partial divestment of movable assets directly and indirectly held by the State, with authorization to proceed with the divestment through a Public Offering for Distribution of Shares on the stock exchange, according to Article 1 of Decree 67,759/2023, including: (a) Schedule of the privatization process; (b) Structure of the offering with the participation of strategic investors and criteria for judging the winner of the secondary public offering; (c) Changes to the Company’s Bylaws; (d) Execution of the Investment Agreement, Lock-up, and other agreements with strategic investors; (e) Guarantee of stability to employees under Law 17,853/2023, for 18 months from the effective completion date of the privatization process; (f) Recommendation of the offering of common shares held by the São Paulo State Government to Company employees; (g) Submission of the following documents to the representatives of URAE - 1 Southwest’s Decision-Making Board for the 1st Board meeting: • Draft of the concession agreement and exhibits • Draft of the charter of URAE-1’s Decision-Making Board • Draft of the Regional Basic Sanitation Plan The definition of the minimum price and the percentage of the State’s equity interest to be divested, as well as the details of the Investment Agreement, Lock-up, and other conditions will be subject to a resolution at a future Board meeting. · Financial derivative agreements As of April 17, 2024, the Company executed derivative financial agreements with selected financial institutions to reduce the exposure of the balance in foreign currency of existing debts, totaling US$ 534 · Annual and Extraordinary Shareholders’ Meeting The General Annual Shareholders’ Meeting was held on April 25, 2024. · Privatization process The São Paulo Municipal Chamber approved, and the Mayor sanctioned Municipal Law 18.107 of May 2, 2024, authorizing the Municipal Executive Power to execute contracts through a regionalized arrangement aimed at providing water supply and sanitation services in the Municipality of São Paulo. · URAE-1 Southeastern As of May 20, 2024, the Deliberative Council of Regional Unit for Drinking Water Supply and Sewage Services – URAE-1 – Southeastern (“URAE-1”), approved the following items of the agenda, among other subjects: (a) Internal Regulations of the URAE-1 Deliberative Council; (b) Regional Basic Sanitation Plan, pursuant to article 17 of Federal Law No. 11,445/2007; (c) Appointment of ARSESP as the entity responsible for regulating and overseeing the services that are the purpose of the Concession Contract; (d) Signing of the Concession Contract, in a unified manner, for all Municipalities forming part of URAE-1 served by Sabesp, replacing the current contractual instruments entered into by the Municipalities. As of May 24, 2024, the Concession Agreement No. 1/2024 was signed between the Company and the Deliberative Council of Regional Unit for Drinking Water Supply and Sewage Services – URAE-1 Southeast, and, as an intervening party, the São Paulo State Public Services Regulatory Agency – ARSESP, for the provision of water supply and sewage services to the municipalities that are part of URAE-1 ("Concession Agreement"). The effectiveness of the Concession Agreement is conditional on the conclusion of the Company's privatization process, under the terms of State Law No. 17,853, of December 8, 2023, and will be valid until October 19, 2060. · Final model for the partial sale of shares held directly and indirectly by the State of São Paulo As of June 3, 2024, the State Privatization Board (CDPED - Conselho Diretor do Programa Estadual de Desestatização) together with the Management Council of the State Program for Public-Private Partnerships (CGPPP - Conselho Gestor do Programa Estadual de Parcerias Público-Privadas), in continuity to the deliberation of April 17, 2024, has deliberated to approve the final model for the partial sale of shares held directly and indirectly by the State of São Paulo, with authorization to proceed with the sale through a public offering of distribution of shares issued by Sabesp (“Public Offering”), according to article 5, I, items “b” and “i” of State Law nº 9,361/1996 and article 21, I, of State Decree nº 67,759/2023, including, among others: (a) Authorization to sale the common shares issued by Sabesp and owned directly and indirectly by the State of São Paulo, in order to maintain at least 18 15 CDPED also ratified the percentage of 10 In addition, the Company clarifies that, as decided by its management, there will be no primary offering through issuance of new shares by Sabesp in the Public Offering. · Interruption in the services in Igarapava municipality On June 1 st st 11.4 The indemnity calculated by the ARSESP (Regulator) amount to R$ 57.2 · Request for São Paulo municipality – registered warrants On May 22 nd rd 3,064.5 In millions of reais Total historical value Total updated value – mar/24 Total amount, net (*) Total 2,373.8 3,064.5 1,873.2 (*) Amount net of discounts. · Selection of the Reference Investor On June 20 th In addition, CDPED, jointly with CGPPP, decided on the minimum price for the sale of shares in the Public Offering by the State, as well as the minimum coverage as a condition for determining the Selected Reference Investor |
Operations (Tables)
Operations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Operations | |
Schedule of summary of the contractual | Schedule of summary of the contractual March 31, 2024 December 31, 2023 March 31, 2023 Municipalities that have already signed contracts: 351 351 351 Balance – intangible and contract assets 49,485,788 48,759,219 45,931,674 Percentage of intangible and contract assets 95.10% 95.12% 94.79% Revenue from sanitation services (excluding construction revenue) 5,384,173 20,510,427 4,678,421 Percentage of revenue from sanitation services (excluding construction revenue) 95.11% 95.35% 95.30% Other Municipalities - Olímpia: 1 1 - Balance – intangible and contract assets 146,715 147,589 - Percentage of intangible and contract assets 0.28% 0.29% - Revenue from sanitation services (excluding construction revenue) 8,525 3,477 - Percentage of revenue from sanitation services (excluding construction revenue) 0.15% 0.02% - Municipalities with expired contracts: 1 1 1 Balance – intangible and contract assets 11,429 11,309 11,443 Percentage of intangible and contract assets 0.02% 0.02% 0.02% Revenue from sanitation services (excluding construction revenue) 4,361 17,559 3,822 Percentage of revenue from sanitation services (excluding construction revenue) 0.08% 0.08% 0.08% Municipalities with concession agreements due by 2030: 23 23 23 Balance – intangible and contract assets 1,045,481 1,051,209 1,064,090 Percentage of intangible and contract assets 2.02% 2.05% 2.20% Revenue from sanitation services (excluding construction revenue) 223,943 833,418 189,704 Percentage of revenue from sanitation services (excluding construction revenue) 3.96% 3.87% 3.86% Municipality of São Paulo: Percentage of intangible and contract assets 43.08% 43.40% 43.21% Percentage of revenue from sanitation services (excluding construction revenue) 43.49% 44.95% 44.53% |
Risk management (Tables)
Risk management (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Risk Management | |
Schedule of exposure to exchange risk | Schedule of exposure to exchange risk March 31, 2024 December 31, 2023 Foreign currency (in thousands) R$ Foreign currency (in thousands) R$ Borrowings and financing – US$ 272,009 1,359,011 280,188 1,356,474 Borrowings and financing – Yen 39,077,331 1,289,943 41,078,385 1,405,702 Interest and charges from borrowings and financing – US$ 20,264 15,510 Interest and charges from borrowings and financing – Yen 2,669 8,167 Total exposure 2,671,887 2,785,853 Borrowing cost – US$ (38,404) (37,520) Borrowing cost – Yen (2,391) (2,442) Total foreign currency-denominated borrowings (Note 16) 2,631,092 2,745,891 |
Schedule of prices and exchange variations | Schedule of prices and exchange variations March 31, 2024 December 31, 2023 Var. US$ R$ 4.9962 R$ 4.8413 3.2 Yen R$ 0.03301 R$ 0.03422 -3.5 |
Schedule of scenario of effect on the income statement | Schedule of scenario of effect on the income statement Probable scenario (*) Net currency exposure as of March 31, 2024 in US$ - Liabilities 272,009 US$ rate as of March 31, 2024 4.9962 Exchange rate estimated according to the scenario 4.9700 Difference between the rates 0.0262 Effect on net financial result R$ - (gain) 7,127 Net currency exposure as of March 31, 2024 in Yen - Liabilities 39,077,331 Yen rate as of March 31, 2024 0.03301 Exchange rate estimated according to the scenario 0.03446 Difference between the rates (0.00145 Effect on the net financial result R$ - (loss) (56,662) Total effect on the net financial result in R$ - (loss) (49,535) (*) For the probable scenario in U.S. dollars and Yen, the exchange rates estimated for March 31, 2025 were used, according to the Focus-BACEN and B3’s Benchmark Rate report, of March 31, 2024, respectively. |
Schedule of borrowings and financing subject to different inflation adjustment indices | Schedule of borrowings and financing subject to different inflation adjustment indices March 31, 2024 December 31, 2023 CDI (i) 12,672,245 9,966,111 TR (ii) 1,656,774 1,684,711 IPCA (iii) 2,927,406 3,038,378 TJLP (iv) 1,290,064 1,365,806 SOFR (v) 1,359,011 1,356,473 Interest and charges 399,957 392,906 Total 20,305,457 17,804,385 (i) CDI - ( Certificado de Depósito Interbancário (ii) TR – Interest Benchmark Rate (iii) IPCA - ( Índice Nacional de Preços ao Consumidor Amplo (iv) TJLP - ( Taxa de Juros a Longo Prazo (v) SOFR - Secured Overnight Financing Rate |
Schedule of credit risk | Schedule of credit risk Banks Fitch Moody's Standard Poor's Banco do Brasil S/A AAA(bra) AAA.br - Banco Santander Brasil S/A - AAA.br brAAA Brazilian Federal Savings Bank AAA(bra) AAA.br brAAA Banco Bradesco S/A AAA(bra) AAA.br brAAA Banco Itaú Unibanco S/A AAA(bra) AAA.br - Banco BV - AA.br brAAA Banco BTG Pactual S/A AAA(bra) AAA.br brAAA |
Schedule of rating assessment | Schedule of rating assessment March 31, 2024 December 31, 2023 Cash and cash equivalents and financial investments AAA(bra) 5,859,198 2,940,690 Others (*) 332,784 324,546 6,191,982 3,265,236 (*) As of March 31, 2024, this category includes R$ 329,381 322,241 |
Schedule of liquidity risk | Schedule of liquidity risk 2024 2025 2026 2027 2028 2029 onwards Total As of March 31, 2024 Liabilities Borrowings and financing 3,051,567 3,773,001 3,368,294 3,278,126 2,418,568 13,595,562 29,485,118 Trade payables and contractors 490,494 - - - - - 490,494 Services payable 838,703 - - - - - 838,703 Public-Private Partnership - PPP 432,216 446,524 461,438 476,850 492,777 6,057,282 8,367,087 Program Contract Commitments 20,310 1,232 1,232 1,232 1,232 11,702 36,940 Total 4,833,290 4,220,757 3,830,964 3,756,208 2,912,577 19,664,546 39,218,342 |
Schedule of sensitivity analysis of the financial instruments | Schedule of sensitivity analysis of the financial instruments March 31, 2024 Indicators Exposure Probable scenario Assets CDI 6,162,220 9.8500 Financial income 606,979 Liabilities CDI (12,672,245) 9.8500 Interest to be incurred (1,248,216) CDI net exposure (6,510,025) (641,237) Liabilities TR (1,656,774) 0.0048 Expenses to be incurred (80) IPCA (2,927,406) 3.4600 Expenses to be incurred (101,288) TJLP (1,290,064) 6.3800 Interest to be incurred (82,306) SOFR (***) (1,359,011) 5.0397 Interest to be incurred (68,490) Total expenses to be incurred, net (893,401) (*) Source: BACEN and LCA as of March 31, 2024 (**) Source: B3 of March 31, 2024 (***) Source: Bloomberg |
Schedule of capital management | Schedule of capital management March 31, 2024 December 31, 2023 Total borrowings and financing (Note 16) 22,024,307 19,536,350 (-) Cash and cash equivalents (Note 6) (2,019,391) (838,484) (-) Financial investments (Note 7) (4,172,591) (2,426,752) Net debt 15,832,325 16,271,114 Total equity 30,680,671 29,857,376 Total (shareholders plus providers of capital) 46,512,996 46,128,490 Leverage ratio 34 35 |
Schedule of estimated fair values of the financial instruments | Schedule of estimated fair values of the financial instruments March 31, 2024 December 31, 2023 Carrying amount Fair value Carrying amount Fair value Cash and cash equivalents 2,019,391 2,019,391 838,484 838,484 Financial investments 4,172,591 4,172,591 2,426,752 2,426,752 Restricted cash 45,694 45,694 54,944 54,944 Trade receivables 3,936,233 3,936,233 3,856,723 3,856,723 ANA 1,879 1,879 2,673 2,673 Other assets 237,270 237,270 196,065 196,065 |
Schedule of financial liabilities | Schedule of financial liabilities March 31, 2024 December 31, 2023 Carrying amount Fair value Carrying amount Fair value Borrowings and financing 22,024,307 22,444,692 19,536,350 19,950,055 Trade payables and contractors 490,494 490,494 456,215 456,215 Services payable 838,703 838,703 750,732 750,732 Program Contract Commitment 33,035 33,035 34,016 34,016 Public-Private Partnership - PPP 3,222,703 3,222,703 3,286,614 3,286,614 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Cash And Cash Equivalents | |
Schedule of cash and cash equivalents | Schedule of cash and cash equivalents March 31, 2024 December 31, 2023 Cash and banks 27,042 31,187 Cash equivalents 1,992,349 807,297 Total 2,019,391 838,484 |
Financial investments (Tables)
Financial investments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Financial Investments | |
Schedule of financial investments | Schedule of financial investments March 31, 2024 December 31, 2023 Banco BV 329,380 322,240 Banco Bradesco S/A 657,631 643,445 Banco BTG Pactual S/A 459,170 449,241 Banco do Brasil S/A 2,726,410 1,011,826 4,172,591 2,426,752 |
Restricted cash (Tables)
Restricted cash (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of restricted cash | Schedule of restricted cash March 31, 2024 December 31, 2023 Agreement with the São Paulo Municipal Government (i) 38,690 47,749 Brazilian Federal Savings Bank – escrow deposits 442 365 Other 6,562 6,830 45,694 54,944 (i) Refers to the amount deducted from the transfer of 7.5% of the revenue earned in the municipality to the Municipal Fund for Environmental Sanitation and Infrastructure, corresponding to eventual amounts unpaid by direct management bodies, foundations and government agencies, as established in the agreement entered into with São Paulo Municipal Government (PMSP). |
Trade receivables (Tables)
Trade receivables (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Trade Receivables | |
Schedule of statement of financial position details | Schedule of statement of financial position details March 31, 2024 December 31, 2023 Private sector: General (i) and special customers (ii) 2,687,984 2,200,921 Agreements (iii) 177,638 839,010 2,865,622 3,039,931 Government entities: Municipal 598,602 623,601 Federal 9,938 8,036 Agreements (iii) 658,021 374,372 1,266,561 1,006,009 Wholesale customers – Municipal governments: (iv) Mogi das Cruzes 4,134 4,343 São Caetano do Sul 8,109 45,333 São Caetano do Sul Agreement 76,502 - Total wholesale customers – Municipal governments 88,745 49,676 Unbilled supply 1,092,167 1,138,316 Subtotal 5,313,095 5,233,932 Allowance for doubtful accounts (1,376,862) (1,377,209) Total 3,936,233 3,856,723 Current 3,590,432 3,584,287 Noncurrent 345,801 272,436 Total 3,936,233 3,856,723 (i) General customers - residential and small and mid-sized companies; (ii) Special customers – large consumers, commercial industries, condominiums and special billing customers (fixed demand agreements, industrial waste, wells, among others); (iii) Agreements - installment payments of past-due receivables, plus inflation adjustment and interest, according to the agreements; and (iv) Wholesale basis customers - municipal governments. This balance refers to the sale of treated water to municipalities, which are responsible for distributing to, billing, and charging final customers. |
Schedule of the aging trade receivables | Schedule of the aging trade receivables March 31, 2024 December 31, 2023 Current 2,852,858 2,723,975 Past-due: Up to 30 days 573,435 627,986 From 31 to 60 days 265,847 271,476 From 61 to 90 days 189,807 181,639 From 91 to 120 days 142,875 127,421 From 121 to 180 days 304,359 290,610 From 181 to 360 days 179,209 57,289 Over 360 days 804,705 953,536 Total past-due 2,460,237 2,509,957 Total 5,313,095 5,233,932 |
Schedule of allowance for doubtful accounts | Schedule of allowance for doubtful accounts Changes in assets January to March 2024 January to March 2023 Balance at the beginning of the period 1,377,209 1,428,517 Creation/(reversal) of losses 40,097 (8,449) Recoveries (40,444) (19,627) Balance at the end of the period 1,376,862 1,400,441 |
Schedule of estimated reconciliation | Schedule of estimated reconciliation Reconciliation of estimated/historical losses at the result January to March 2024 January to March 2023 Write-offs (190,285) (190,138) (Losses)/reversal with state entities – related parties (580) (743) (Losses)/reversal with the private sector/government entities (40,097) 8,449 Recoveries 40,444 19,627 Amount recorded as expense (Note 27) (190,518) (162,805) |
Schedule of registered warrants | Schedule of registered warrants Debtor March 31, 2024 December 31, 2023 Municipality of São Paulo 3,139,801 3,042,927 São Paulo State Government 41,359 - Municipality of Cachoeira Paulista 15,871 15,456 Municipality of Agudos 13,061 14,964 Other 22,285 11,918 Total 3,232,377 3,085,265 |
Related-party balances and tr_2
Related-party balances and transactions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of accounts receivable, interest on capital, revenues, and expenses | Schedule of accounts receivable, interest on capital, revenues, and expenses March 31, 2024 December 31, 2023 Accounts receivable Current: Sanitation services 167,608 169,515 Allowance for losses (51,078) (50,498) Reimbursement of additional retirement and pension benefits paid (G0): - Monthly flow 41,929 36,241 - GESP Agreement – 2015 108,203 106,022 Total current 266,662 261,280 Noncurrent: Agreement for the installment payment of sanitation services 1,361 1,361 Reimbursement of additional retirement and pension benefits paid (G0): - GESP Agreement – 2015 930,947 933,911 Total noncurrent 932,308 935,272 Total receivables 1,198,970 1,196,552 Assets: Sanitation services 117,891 120,378 Reimbursement of additional retirement and pension benefits paid (G0) 1,081,079 1,076,174 Total 1,198,970 1,196,552 Liabilities: Interest on capital payable 420,564 420,564 |
Schedule of loan agreement through credit facility | Schedule of loan agreement through credit facility January to March 2023 January to March 2024 Revenue from sanitation services 162,966 186,144 Payments from related parties (167,612) (186,205) Payment received from reimbursement referring to Law 4,819/1958 (52,593) (47,816) |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Investments Abstract | |
Schedule of equity interest valued by the equity | Schedule of equity interest valued by the equity Equity Contribution Profit (loss) for the period March 31, 2024 December 31, 2023 January to March 2024 January to March 2024 (*) January to March 2023 Sesamm 65,511 61,275 - 4,236 - 4,630 Águas de Andradina 35,582 34,088 - 1,494 - 389 Águas de Castilho 13,384 12,784 - 600 - 402 Attend Ambiental 47,823 43,263 - 4,560 - 4,016 Aquapolo Ambiental 112,297 102,442 - 9,855 - 8,610 Paulista Geradora de Energia - PGE (**) 42,917 42,307 590 20 - (28) Cantareira SP Energia 10,711 10,650 - 61 - (258) FOXX URE-BA Ambiental 62,430 63,309 - (295) (584) (6,549) Infranext Soluções em Pavimentação (***) 4,699 4,699 - - - (340) Sabesp Olímpia (3,121) (3,066) - (55) - - (*) The amount presented refers to changes in the equity of the investee, as its financial statements for the year ended December 31, 2023 were issued after the disclosure of SABESP’s financial statements. (**) In 2023, a contribution of R$ 20,600 was defined, with Servtec and Tecniplan paying R$ 14,860 of this amount in the same year. In 2024, Servtec and Tecniplan paid the remaining amount of R$ 590, with the total paid-in amount corresponding to a 75% equity interest. As of March 31, 2024, SABESP had an outstanding payable amount of R$ 5,150. (***) Infranext’s share capital will be R$ 12,000. As of December 31, 2023, SABESP had an outstanding payable amount of R$ 4,950. The information presented refers to the position as of December 31, 2023, the last balance sheet received. Investments Equity results of investments Interest percentage March 31, 2024 December 31, 2023 January to March 2024 (*) March 31, 2024 December 31, 2023 Sesamm 23,584 22,059 1,525 - 36 36 Águas de Andradina 10,673 10,225 448 - 30 30 Águas de Castilho 4,015 3,835 180 - 30 30 Attend Ambiental 21,521 19,469 2,052 - 45 45 Aquapolo Ambiental 55,025 50,196 4,829 - 49 49 Paulista Geradora de Energia 6,866 6,861 5 - 25 25 Cantareira SP Energia 5,242 5,212 30 - 49 49 FOXX URE-BA Ambiental 12,486 12,663 (60) (117) 20 20 Infranext Soluções em Pavimentação (***) - - - - 45 45 Total 139,412 130,520 9,009 (117) FOXX URE-BA Ambiental – Fair value (**) 25,018 25,244 Other investments 6,099 6,099 Overall total 170,529 161,863 (*) The amount presented refers to changes in the equity of the investee, as its financial statements for the year ended December 31, 2023 were issued after the disclosure of SABESP’s financial statements. (**) The amount presented refers to the fair value adjustment in the acquisition of FOXX URE-BA in 2024. (***) The amount of the investee’s loss exceeding the investment was reclassified to Noncurrent Liabilities. |
Investment Properties (Tables)
Investment Properties (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of investment properties | Schedule of investment properties December 31, 2023 Depreciation March 31, 2024 Investment properties 46,678 (12) 46,666 December 31, 2022 Depreciation March 31, 2023 Investment properties 46,726 (12) 46,714 |
Contract asset (Tables)
Contract asset (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Contract Asset | |
Schedule of contract assets | Schedule of contract assets December 31, 2023 Additions (i) Transfers Transfers of works to intangible assets (ii) March 31, 2024 (iii) Total contract asset 7,393,096 1,270,667 1,952 (1,082,990) 7,582,725 As of March 31, 2024 and December 31, 2023, the contract asset had no amounts recognized as leases. Leases were part of construction costs and, since June 2020, additional works had been executed by the Company. December 31, 2022 Additions Transfers Transfers of works to intangible assets March 31, 2023 Total contract asset 8,613,968 1,204,867 280 (1,105,061) 8,714,054 As of March 31, 2023, the contract asset included R$ 175,145 276,893 (i) The largest additions in the period were located in the municipalities of São Paulo, Guarulhos, and Itanhaém, totaling R$ 558 million, R$ 110 million, and R$ 43 million, respectively. (ii) The largest transfers in the period were located in the municipalities of São Paulo, Cajamar, and Arujá, totaling R$ 403 million, R$ 95 million, and R$ 63 million, respectively. (iii) The largest works were located in the municipalities of São Paulo, Guarulhos, and Francisco Morato, totaling R$ 2,207 million, R$ 320 million, and R$ 260 million, respectively. |
Intangible assets (Tables)
Intangible assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Intangible Assets | |
Schedule of financial position details | Schedule of financial position details March 31, 2024 December 31, 2023 Cost Accumulated amortization Net Cost Accumulated amortization Net Intangible right arising from: Concession agreements – equity value 754,555 (247,159) 507,396 747,925 (241,808) 506,117 Concession agreements – economic value 1,687,440 (1,085,649) 601,791 1,686,384 (1,048,624) 637,760 Concession agreements – new contracts 148,000 (1,644) 146,356 148,000 (411) 147,589 Program contracts 30,924,633 (9,874,351) 21,050,282 30,267,977 (9,583,480) 20,684,497 Program contracts – commitments 1,709,757 (510,973) 1,198,784 1,709,757 (497,731) 1,212,026 Service contracts – São Paulo 29,557,680 (9,318,616) 20,239,064 29,161,286 (8,967,701) 20,193,585 Software license of use 1,310,942 (822,184) 488,758 1,300,504 (787,280) 513,224 Right of use – Other assets 291,027 (64,336) 226,691 217,204 (99,144) 118,060 Total 66,384,034 (21,924,912) 44,459,122 65,239,037 (21,226,179) 44,012,858 |
Schedule of obligations assumed | Schedule of obligations assumed December 31, 2023 Additions Transfer of contract asset Transfers Write-offs and disposals Amortization March 31, 2024 Intangible right arising from: Concession agreements – equity value (*) 506,117 - 6,587 39 (20) (5,327) 507,396 Concession agreements – economic value 637,760 - 1,089 (4) - (37,054) 601,791 Concession agreements – new contracts 147,589 - - - - (1,233) 146,356 Program contracts (*) 20,684,497 181 663,509 (930) (606) (296,369) 21,050,282 Program contracts – commitments 1,212,026 - - - - (13,242) 1,198,784 Service contracts – São Paulo 20,193,585 - 404,279 (3,949) (132) (354,719) 20,239,064 Software license of use 513,224 2,911 7,526 1 - (34,904) 488,758 Right of use – Other assets 118,060 130,667 - - (46) (21,990) 226,691 Total 44,012,858 133,759 1,082,990 (4,843) (804) (764,838) 44,459,122 December 31, 2022 Additions Transfer of contract asset Transfers Write-offs and disposals Amortization March 31, 2023 Intangible right arising from: Concession agreements - equity value (*) 499,326 - 4,098 (955) (6) (4,994) 497,469 Concession agreements – economic value 652,039 - 2,589 331 (85) (30,249) 624,625 Program contracts (*) 18,337,459 2 569,717 (288) (2,055) (252,011) 18,652,824 Program contracts – commitments 1,264,992 - - - - (13,242) 1,251,750 Service contracts – São Paulo 17,870,451 - 513,453 (1,720) (1,056) (299,179) 18,081,949 Software license of use 595,404 - 15,204 - - (33,105) 577,503 Right of use – Other assets 75,052 320 - - (30) (17,261) 58,081 Right of use – Investments 26,148 - - (26,148) - - - Total 39,320,871 322 1,105,061 (28,780) (3,232) (650,041) 39,744,201 (*) As of March 31, 2023, Concession agreements – equity value, and Program contracts included leases totaling R$ 51,692 165,104 R$ 54,356 168,216 , respectively. |
Schedule of intangible assets | Schedule of intangible assets March 31, 2024 December 31, 2023 Alto Tietê 231,146 235,224 São Lourenço 2,513,527 2,556,002 Total 2,744,673 2,791,226 |
Schedule of obligations assumed by the company | Schedule of obligations assumed by the company March 31, 2024 December 31, 2023 Current liabilities Noncurrent liabilities Total liabilities Current liabilities Noncurrent liabilities Total liabilities Alto Tietê - - - 52,762 - 52,762 São Lourenço 435,671 2,787,032 3,222,703 435,164 2,798,688 3,233,852 Total 435,671 2,787,032 3,222,703 487,926 2,798,688 3,286,614 |
Schedule of right of use | Schedule of right of use Nature March 31, 2024 December 31, 2023 Leases - Concession and Program Contract Cost 582,617 588,600 Accumulated amortization (217,041) (213,921) (=) Net 365,576 374,679 Right of use – Other assets Vehicles 232,477 205,593 Properties 58,505 11,566 Equipment 45 45 Accumulated amortization (64,336) (99,144) (=) Net 226,691 118,060 Total - Leases and Right of use 592,267 492,739 |
Schedule of impact in the income statements | Schedule of impact in the income statements Impact on the result March 31, 2024 March 31, 2023 Right of use amortization (25,110) (23,037) Financial result – interest expense and inflation adjustment (31,298) (18,127) Expenses of short-term leases with low value (3,151) (8,518) Reduction of profit for the period (59,559) (49,682) |
Property, plant and equipment (
Property, plant and equipment (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Property Plant And Equipment | |
Schedule of statement of financial position details | Schedule of statement of financial position details March 31, 2024 December 31, 2023 Cost Accumulated depreciation Net Annual average depreciation rate Cost Accumulated depreciation Net Annual average depreciation rate Land 94,228 - 94,228 - 94,228 - 94,228 - Buildings 126,959 (45,197) 81,762 2.2 125,672 (44,726) 80,946 2.2 Equipment 452,917 (318,950) 133,967 14.1 443,380 (313,193) 130,187 14.2 Transportation equipment 14,904 (10,810) 4,094 9.9 14,625 (10,384) 4,241 9.9 Furniture and fixtures 41,123 (16,328) 24,795 6.7 41,049 (15,876) 25,173 6.8 Other 147,120 (1,654) 145,466 6.5 140,548 (764) 139,784 6.5 Total 877,251 (392,939) 484,312 9.6 859,502 (384,943) 474,559 9.7 |
Schedule of changes in property, plant and equipment | Schedule of changes in property, plant and equipment December 31, 2023 Additions Transfers Write-offs and disposals Depreciation March 31, 2024 Land 94,228 - - - - 94,228 Buildings 80,946 603 692 - (479) 81,762 Equipment 130,187 9,147 1,740 (109) (6,998) 133,967 Transportation equipment 4,241 - - - (147) 4,094 Furniture and fixtures 25,173 382 (223) (5) (532) 24,795 Other 139,784 5,779 682 - (779) 145,466 Total 474,559 15,911 2,891 (114) (8,935) 484,312 December 31, 2022 Additions Transfers Write-offs and disposals Depreciation March 31, 2023 Land 94,228 - - - - 94,228 Buildings 47,968 1,037 (85) - (296) 48,624 Equipment 120,865 16,881 87 (243) (6,235) 131,355 Transportation equipment 2,495 - 2,059 - (149) 4,405 Furniture and fixtures 23,496 3,027 291 (40) (391) 26,383 Other 49,887 10,009 - - (21) 59,875 Total 338,939 30,954 2,352 (283) (7,092) 364,870 |
Borrowings and financing (Table
Borrowings and financing (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Borrowings And Financing | |
Schedule of borrowings and financing outstanding | Schedule of borrowings and financing outstanding Borrowings and financing outstanding balance March 31, 2024 December 31, 2023 Financial institution Current Noncurrent Total Current Noncurrent Total Local currency 12th issue debentures 56,517 - 56,517 45,450 22,385 67,835 18th issue debentures 40,975 - 40,975 46,962 - 46,962 22nd issue debentures 174,245 - 174,245 170,957 170616 341,573 23rd issue debentures 490,841 374,303 865,144 490,810 374,279 865,089 24th issue debentures - 523,163 523,163 - 512,122 512,122 26th issue debentures - 1,330,768 1,330,768 - 1,302,042 1,302,042 27th issue debentures 200,000 498,704 698,704 200,000 498,634 698,634 28th issue debentures 127,745 1,070,548 1,198,293 127,715 1,070,457 1,198,172 29th issue debentures - 1,332,090 1,332,090 - 1,314,136 1,314,136 30th issue debentures 124,988 748,275 873,263 125,000 873,231 998,231 31st issue debentures - 2,933,677 2,933,677 - - - Brazilian Federal Savings Bank 110,235 1,489,676 1,599,911 108,210 1,508,275 1,616,485 Brazilian Development Bank - BNDES PAC II 9751 7,295 14,519 21,814 7,286 16,316 23,602 Brazilian Development Bank - BNDES PAC II 9752 4,943 9,885 14,828 4,936 11,107 16,043 Brazilian Development Bank - BNDES ONDA LIMPA 27,223 - 27,223 27,219 6,766 33,985 Brazilian Development Bank – BNDES TIETÊ III 200,947 602,767 803,714 200,693 652,175 852,868 Brazilian Development Bank - BNDES 2015 34,189 351,960 386,149 34,146 360,021 394,167 Brazilian Development Bank - BNDES 2014 6,646 8,471 15,117 6,638 10,107 16,745 Inter-American Development Bank – IDB 2202 181,349 1,893,180 2,074,529 181,349 1,983,615 2,164,964 Inter-American Development Bank – IDB INVEST 41,760 794,125 835,885 39,550 814,840 854,390 Inter-American Development Bank – IDB INVEST 2022 14,100 438,305 452,405 14,100 438,241 452,341 Inter-American Development Bank – IDB INVEST 2023 14,100 447,808 461,908 14,100 447,791 461,891 International Finance Corporation - IFC 2022 22,800 714,139 736,939 22,800 713,910 736,710 International Finance Corporation - IFC 2023 - 987,006 987,006 - 986,651 986,651 Leases (Concession Agreements, Program Contracts, and Contract Asset) 106,362 206,075 312,437 49,884 259,326 309,210 Leases (others) 100,102 151,548 251,650 68,499 73,801 142,300 Other 3,006 2,161 5,167 3,003 2,910 5,913 Interest and other charges 379,694 - 379,694 377,398 - 377,398 Total in local currency 2,470,062 16,923,153 19,393,215 2,366,705 14,423,754 16,790,459 Borrowings and financing outstanding balance March 31, 2024 December 31, 2023 Financial institution Current Noncurrent Total Current Noncurrent Total Foreign currency Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand (US$ 20,556 thousand in December 2023) 51,351 25,676 77,027 49,759 49,759 99,518 Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand (US$ 152,187 thousand in December 2023) - 736,321 736,321 - 712,449 712,449 International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand (US$ 78,197 thousand in December 2023) 30,375 476,883 507,258 29,433 477,554 506,987 JICA 15 – ¥ 6,338,365 thousand (¥ 6,914,580 thousand in December 2023) 38,042 171,188 209,230 39,437 197,180 236,617 JICA 18 – ¥ 5,698,880 thousand (¥ 6,216,960 thousand in December 2023) 34,204 153,803 188,007 35,457 177,168 212,625 JICA 17 – ¥ 3,464,352 thousand (¥ 3,464,352 thousand in December 2023) 9,530 104,054 113,584 9,879 107,880 117,759 JICA 19 – ¥ 23,575,734 thousand (¥ 24,482,493 thousand in December 2023) 59,864 716,868 776,732 62,059 774,200 836,259 Interest and other charges 22,933 - 22,933 23,677 - 23,677 Total in foreign currency 246,299 2,384,793 2,631,092 249,701 2,496,190 2,745,891 Total borrowings and financing 2,716,361 19,307,946 22,024,307 2,616,406 16,919,944 19,536,350 |
Schedule of borrowings terms | Schedule of borrowings terms Local currency Guarantees Maturity Annual interest rate Inflation adjustment 12th issue debentures Own funds 2025 TR + 9.5% 17th issue debentures Own funds 2023 CDI + 0.75% (series 1), 4.5% (series 2), and 4.75% (series 3) IPCA (series 2 and 3) 18th issue debentures Own funds 2024 TJLP + 1.92 % (series 1 and 3) and 8.25% (series 2) IPCA (series 2) 22nd issue debentures Own funds 2025 CDI + 0.58% (series 1) and CDI+ 0.90% (series 2) and 6.0% (series 3) IPCA (series 3) 23rd issue debentures Own funds 2027 CDI + 0.49% (series 1) and CDI+ 0.63% (series 2) 24th issue debentures Own funds 2029 3.20% (series 1) and 3.37% (series 2) IPCA (series 1 and 2) 26th issue debentures Own funds 2030 4.65% (series 1) and 4.95% (series 2) IPCA (series 1 and 2) 27th issue debentures Own funds 2027 CDI + 1.60% (series 1) and CDI+ 1.80% (series 2) and 2.25% (series 3) 28th issue debentures Own funds 2028 CDI + 1.20% (series 1) and CDI+ 1.44% (series 2) and 1.60% (series 3) 29th issue debentures Own funds 2036 CDI + 1.29% (series 1), 5.3058% (series 2), and 5.4478% (series 3) IPCA (series 2 and 3) 30th issue debentures Own funds 2029 CDI + 1.30% (series 1) and CDI+ 1.58% (series 2) 31st issue debentures Own funds 2034 CDI +0.49 (series 1) and CDI+1.10% (series 2) and CDI+1.31% (series 3) Brazilian Federal Savings Bank Own funds 2024/2042 5% to 9.5% TR Brazilian Development Bank - BNDES PAC II 9751 Own funds 2027 TJLP + 1.72% Brazilian Development Bank - BNDES PAC II 9752 Own funds 2027 TJLP + 1.72% Brazilian Development Bank - BNDES ONDA LIMPA Own funds 2025 TJLP + 1.92% Brazilian Development Bank – BNDES TIETÊ III Own funds 2028 TJLP + 1.66% Brazilian Development Bank - BNDES 2015 Own funds 2035 TJLP + 2.18% Brazilian Development Bank - BNDES 2014 Own funds 2026 TJLP + 1.76% Inter-American Development Bank – IDB 2202 Government 2035 CDI + 0.86% Inter-American Development Bank – IDB INVEST Own funds 2034 CDI+ 1.90% and CDI 2.70% Inter-American Development Bank – IDB INVEST 2022 Own funds 2036 CDI + 2.50% Inter-American Development Bank – IDB INVEST 2023 Own funds 2036 CDI + 0.50% International Finance Corporation - IFC Own funds 2032 CDI + 2.00% Leases (Concession Agreements, Program Contracts, and Contract Asset) 2035 7.73% to 10.12% IPC Leases (others) 2042 9.74% to 15.24% Other Own funds 2025 3% (FEHIDRO); TJLP + 1.5% (FINEP) Foreign currency Guarantees Maturity Annual interest rate Exchange variation Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand Government 2025 SOFR +5.13% US$ Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand Government 2044 SOFR + 6.55055% US$ International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand Government 2034 SOFR + 6.06% and 7.16% US$ JICA 15 – ¥ 6,338,365 thousand Government 2029 1.8% and 2.5% Yen JICA 18 – ¥ 5,698,880 thousand Government 2029 1.8% and 2.5% Yen JICA 17 – ¥ 3,464,352 thousand Government 2035 1.2% and 0.01% Yen JICA 19 – ¥ 23,575,734 thousand Government 2037 1.7% and 0.01% Yen |
Schedule of borrowings payment | Schedule of borrowings payment 2024 2025 2026 2027 2028 2029 2030 to 2044 TOTAL LOCAL CURRENCY Debentures 905,061 1,328,730 1,217,890 1,387,314 665,375 1,304,027 3,218,442 10,026,839 Brazilian Federal Savings Bank 82,048 115,356 122,556 130,195 138,177 143,481 868,098 1,599,911 BNDES 210,955 260,803 250,860 238,124 84,351 34,189 189,563 1,268,845 IDBs - National 139,754 260,899 330,209 315,069 420,959 385,919 1,971,918 3,824,727 IFCs 22,800 44,200 61,800 80,800 123,600 181,600 1,209,145 1,723,945 Leases (Concession Agreements, Program Contracts, Contract Asset, and others) 151,818 133,170 64,062 22,899 58,917 19,012 114,209 564,087 Other 2,254 2,771 142 - - - - 5,167 Interest and other charges 304,965 74,729 - - - - - 379,694 TOTAL IN LOCAL CURRENCY 1,819,655 2,220,658 2,047,519 2,174,401 1,491,379 2,068,228 7,571,375 19,393,215 FOREIGN CURRENCY IDB 25,676 71,361 40,019 40,019 40,019 40,019 556,235 813,348 IBRD 15,188 30,375 30,375 30,375 30,375 41,525 329,045 507,258 JICA 75,585 141,639 141,639 141,639 141,639 141,526 503,886 1,287,553 Interest and other charges 19,741 3,192 - - - - - 22,933 TOTAL IN FOREIGN CURRENCY 136,190 246,567 212,033 212,033 212,033 223,070 1,389,166 2,631,092 Total 1,955,845 2,467,225 2,259,552 2,386,434 1,703,412 2,291,298 8,960,541 22,024,307 |
Schedule of changes in borrowings | Schedule of changes in borrowings December 31, 2023 Addition (lease) Funding Borrowing costs Inflation adjustment and exchange rate changes Inflation adjustment / exchange rate change and incorporated interest- Capitalized Interest paid Amortization Accrued interest Provision for interest and fees - Capitalized Expenses with borrowing costs March 31, 2024 LOCAL CURRENCY Debentures 7,534,818 - 2,940,478 (7,319) 51,281 10,953 (166,538) (316,082) 151,082 36,657 2,731 10,238,061 Brazilian Federal Savings Bank 1,621,014 - 7,857 - 1,653 412 (31,269) (26,495) 25,167 6,056 - 1,604,395 BNDES 1,341,472 - - - 1,096 553 (24,734) (70,274) 16,743 8,191 59 1,273,106 IDB 2202 2,252,742 - - - - - (132,871) (90,674) 34,753 27,317 239 2,091,506 IDB INVEST 2020 900,367 - - - - - (61,148) (18,670) - 28,095 165 848,809 IFC 2022 757,297 - - - - - - - 8,217 15,647 229 781,390 IFC 2023 1,006,642 - - - - - - - 10,690 20,362 355 1,038,049 IDB INVEST 2022 454,543 - - - - - - - 14,842 - 64 469,449 IDB INVEST 2023 464,131 - - - - - - - 15,038 - 17 479,186 Leases (Concession Agreements, Program Contracts, and Contract Asset) 309,210 - - - - - (27,329) - 30,556 - - 312,437 Leases (others) 142,300 130,666 - - - - (30,193) 8,877 - - 251,650 Other 5,923 - - - 6 - (92) (751) 90 1 - 5,177 TOTAL IN LOCAL CURRENCY 16,790,459 130,666 2,948,335 (7,319) 54,036 11,918 (443,981) (553,139) 316,055 142,326 3,859 19,393,215 FOREIGN CURRENCY IDBs 819,455 - - - 26,441 - (2,457) (25,359) 13,639 - 298 832,017 IBRD 515,015 - - (1,321) 16,589 - (16,507) (15,133) 10,076 3 139 508,861 JICA 1,411,421 - - - (49,365) - (10,651) (66,395) 5,005 148 51 1,290,214 TOTAL IN FOREIGN CURRENCY 2,745,891 - - (1,321) (6,335) - (29,615) (106,887) 28,720 151 488 2,631,092 Total 19,536,350 130,666 2,948,335 (8,640) 47,701 11,918 (473,596) (660,026) 344,775 142,477 4,347 22,024,307 December 31, 2022 Addition (lease) Funding Borrowing costs Inflation adjustment and exchange rate changes Inflation adjustment / exchange rate change and incorporated interest- Capitalized Interest paid Amortization Accrued interest Provision for interest and fees - Capitalized Expenses with borrowing costs March 31, 2023 LOCAL CURRENCY Debentures 8,166,366 - - (516) 60,883 5,463 (206,330) (363,123) 162,197 46,336 2,859 7,874,135 Brazilian Federal Savings Bank 1,526,185 - 50,852 - 6,250 1,718 (29,853) (27,891) 23,539 6,393 - 1,557,193 BNDES 1,380,993 - - - 3,354 984 (25,753) (61,940) 19,891 5,670 65 1,323,264 IDB 2202 2,450,550 - - - - - (165,514) (90,674) 26,253 58,942 239 2,279,796 IDB INVEST 943,619 - - - - - (71,521) (18,670) 22,661 12,244 166 888,499 IFC 774,525 - - - - - - - - 29,484 228 804,237 IDB INVEST 2022 469,327 - - - - - - - 18,405 - 64 487,796 Leases (Concession Agreements, Program Contracts, and Contract Asset) 357,844 - - - - - (13,603) (10,873) 13,603 - - 346,971 Leases (others) 101,374 320 - - - - (4,523) (20,389) 9,047 - - 85,829 Other 12,130 - 3,629 - 22 - (161) (1,581) 160 2 - 14,201 TOTAL IN LOCAL CURRENCY 16,182,913 320 54,481 (516) 70,509 8,165 (517,258) (595,141) 295,756 159,071 3,621 15,661,921 FOREIGN CURRENCY IDBs 532,693 - 50,342 - (15,365) - (2,474) (26,343) 5,062 - 237 544,152 IBRD 399,762 - 18,892 (1,588) (10,585) - (10,061) (16,014) 8,691 56 106 389,259 JICA 1,803,109 - - - (56,819) - (14,057) (78,741) 6,635 289 51 1,660,467 IDB 1983AB 40,194 - - - (1,056) - - - 661 221 104 40,124 TOTAL IN FOREIGN CURRENCY 2,775,758 - 69,234 (1,588) (83,825) - (26,592) (121,098) 21,049 566 498 2,634,002 Total 18,958,671 320 123,715 (2,104) (13,316) 8,165 (543,850) (716,239) 316,805 159,637 4,119 18,295,923 |
Schedule of debentures | Schedule of debentures Value Rate Maturity Series 1 507,000 CDI + 0.49 2029 Series 2 1,734,467 CDI + 1.10 2031 Series 3 699,011 CDI + 1.31 2034 Total 2,940,478 |
Schedule of restrictive covenants ratios | Schedule of restrictive covenants ratios Covenants Adjusted EBITDA / Adjusted Financial Expenses Equal to or higher than 2.80 EBITDA / Financial Expenses Paid Equal to or higher than 2.35 Adjusted Net Debt / Adjusted EBITDA Equal to or lower than 3.80 Net Debt / Adjusted EBITDA Equal to or lower than 3.50 Other Onerous Debt (1) Equal to or lower than 1.30 Adjusted Current Ratio Higher than 1.00 (1) The contractual definition of “Other Onerous Debts” corresponds to the sum of pension plan obligations and healthcare plan, installment payments of tax debts, and installment payments of debts with the electricity supplier. |
Schedule of borrowing and financing credit limited | Schedule of borrowing and financing credit limited Agent March 31, 2024 (in millions of reais (*)) Brazilian Federal Savings Bank 926 Brazilian Development Bank (BNDES) 30 Inter-American Development Bank (IDB) 739 International Bank for Reconstruction and Development (IBRD) 1,032 Other 7 TOTAL 2,734 (*) Brazilian Central Bank’s exchange rate as of March 31, 2024 (US$ 1.00 = R$ 4.9962; ¥ 1.00 = R$ 0.03301). |
Taxes and contributions (Tables
Taxes and contributions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of current assets | Schedule of current assets March 31, 2024 December 31, 2023 Recoverable taxes Income tax and social contribution 272,364 462,642 Withheld income tax (IRRF) on financial investments 53,587 29,955 Other federal taxes 2,222 2,050 Total 328,173 494,647 |
Schedule of current liabilities | Schedule of current liabilities March 31, 2024 December 31, 2023 Taxes and contributions payable Income tax and social contribution 389,712 205,964 Cofins and Pasep 137,048 141,703 INSS (social security contribution) 42,136 44,556 IRRF (withholding income tax) 5,512 64,770 Other 44,620 54,979 Total 619,028 511,972 |
Deferred taxes and contributi_2
Deferred taxes and contributions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of deferred taxes | Schedule of deferred taxes March 31, 2024 December 31, 2023 Deferred income tax assets Provisions 678,996 666,131 Pension plan obligations - G1 132,543 135,231 Donations of underlying assets on concession agreements 44,594 45,140 Allowance for doubtful accounts 190,726 182,519 Other 376,281 382,767 Total deferred tax asset 1,423,140 1,411,788 Deferred income tax liabilities Temporary difference on concession of intangible asset (325,461) (329,060) Capitalization of borrowing costs (466,374) (465,510) Profit on supply to government entities (347,379) (348,514) Actuarial gain – G1 Plan (121,425) (121,425) Construction margin (39,893) (40,579) Borrowing costs (7,323) (8,624) Total deferred tax liabilities (1,307,855) (1,313,712) Deferred tax asset, net 115,285 98,076 |
Schedule of changes | Schedule of changes Deferred income tax assets December 31, 2023 Net change March 31, 2024 Provisions 666,131 12,865 678,996 Pension plan obligations - G1 135,231 (2,688) 132,543 Donations of underlying assets on concession agreements 45,140 (546) 44,594 Allowance for doubtful accounts 182,519 8,207 190,726 Other 382,767 (6,486) 376,281 Total 1,411,788 11,352 1,423,140 Deferred income tax liabilities Temporary difference on concession of intangible asset (329,060) 3,599 (325,461) Capitalization of borrowing costs (465,510) (864) (466,374) Profit on supply to government entities (348,514) 1,135 (347,379) Actuarial gain – G1 (121,425) - (121,425) Construction margin (40,579) 686 (39,893) Borrowing costs (8,624) 1,301 (7,323) Total (1,313,712) 5,857 (1,307,855) Deferred tax asset, net 98,076 17,209 115,285 Deferred income tax assets December 31, 2022 Net change March 31, 2023 Provisions 560,404 12,715 573,119 Pension plan obligations - G1 141,606 (4,774) 136,832 Donations of underlying assets on concession agreements 46,088 (288) 45,800 Allowance for doubtful accounts 199,363 (6,693) 192,670 Other 171,798 (2,221) 169,577 Total 1,119,259 (1,261) 1,117,998 Deferred income tax liabilities Temporary difference on concession of intangible asset (353,817) 3,498 (350,319) Capitalization of borrowing costs (457,669) (7,785) (465,454) Profit on supply to government entities (346,650) 1,390 (345,260) Actuarial gain – G1 (93,561) - (93,561) Construction margin (43,323) 686 (42,637) Borrowing costs (13,517) 1,227 (12,290) Total (1,308,537) (984) (1,309,521) Deferred tax liability, net (189,278) (2,245) (191,523) |
Schedule of reconciliation of the effective tax rate | Schedule of reconciliation of the effective tax rate January to March 2023 January to March 2024 Profit before income taxes 1,132,945 1,323,860 Statutory rate 34 34 Estimated expense at statutory rate (385,201) (450,112) Permanent differences: Provision Law 4,819/1958 – G0 (i) (10,772) (6,555) Donations (1,065) (1,093) Agreement with AAPS - (55,212) Other differences 11,305 12,407 Income tax and social contribution (385,733) (500,565) Current income tax and social contribution (383,488) (517,774) Deferred income tax and social contribution (2,245) 17,209 Effective rate 34 38 (i) Permanent difference related to the provision for the actuarial liability. See Note 21 (ii) and (v). |
Provisions (Tables)
Provisions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Provisions Abstract | |
Schedule of lawsuits and proceedings that resulted in provisions | Schedule of lawsuits and proceedings that resulted in provisions March 31, 2024 December 31, 2023 Provisions Escrow deposits Provisions net of deposits Provisions Escrow deposits Provisions net of deposits Customer claims (i) 169,058 (6,003) 163,055 175,255 (6,060) 169,195 Supplier claims (ii) 338,580 (93,833) 244,747 334,273 (90,973) 243,300 Other civil claims (iii) 140,447 (1,301) 139,146 128,036 (1,229) 126,807 Tax claims (iv) 114,215 (18,577) 95,638 101,770 (18,223) 83,547 Labor claims (v) 723,968 (14,077) 709,891 727,133 (16,235) 710,898 Environmental claims (vi) 510,781 (57) 510,724 492,740 (55) 492,685 Total 1,997,049 (133,848) 1,863,201 1,959,207 (132,775) 1,826,432 Current 1,085,976 - 1,085,976 1,064,367 - 1,064,367 Noncurrent 911,073 (133,848) 777,225 894,840 (132,775) 762,065 |
Schedule of changes in provisions | Schedule of changes in provisions December 31, 2023 Additional provisions Interest and inflation adjustment Use of the accrual Amounts not used (reversal) March 31, 2024 Customer claims (i) 175,255 965 5,043 (12,189) (16) 169,058 Supplier claims (ii) 334,273 2,027 8,957 (2,741) (3,936) 338,580 Other civil claims (iii) 128,036 23,512 5,480 (15,564) (1,017) 140,447 Tax claims (iv) 101,770 11,967 4,805 (101) (4,226) 114,215 Labor claims (v) 727,133 18,517 13,098 (16,498) (18,282) 723,968 Environmental claims (vi) 492,740 10,667 21,650 - (14,276) 510,781 Subtotal 1,959,207 67,655 59,033 (47,093) (41,753) 1,997,049 Escrow deposits (132,775) (1,899) (2,580) 1,816 1,590 (133,848) Total 1,826,432 65,756 56,453 (45,277) (40,163) 1,863,201 December 31, 2022 Additional provisions Interest and inflation adjustment Use of the accrual Amounts not used (reversal) March 31, 2023 Customer claims (i) 151,023 1,918 3,790 (21,540) (1,158) 134,033 Supplier claims (ii) 257,080 1,992 5,552 (1,042) - 263,582 Other civil claims (iii) 99,462 5,701 7,154 (3,478) (3,793) 105,046 Tax claims (iv) 79,532 11,039 1,658 (7) (455) 91,767 Labor claims (v) 654,277 9,894 13,486 (5,799) (14,450) 657,408 Environmental claims (vi) 406,872 22,400 18,655 - (14,117) 433,810 Subtotal 1,648,246 52,944 50,295 (31,866) (33,973) 1,685,646 Escrow deposits (37,462) (271) (696) 533 1,461 (36,435) Total 1,610,784 52,673 49,599 (31,333) (32,512) 1,649,211 |
Schedule of lawsuits deemed as contingent liabilities | Schedule of lawsuits deemed as contingent liabilities March 31, 2024 December 31, 2023 Customer claims (i) 161,784 158,584 Supplier claims (ii) 1,005,785 968,752 Other civil claims (iii) 644,852 695,097 Tax claims (iv) 1,156,487 1,067,350 Labor claims (v) 3,332,929 3,093,735 Environmental claims (vi) 4,316,366 4,158,504 Total 10,618,203 10,142,022 |
Labor liabilities and pension_2
Labor liabilities and pension plan obligations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Labor Liabilities And Pension Plan Obligations | |
Schedule of employees benefits | Schedule of employees benefits March 31, 2024 December 31, 2023 Salaries and payroll charges 37,337 69,885 Provision for vacation 245,218 256,415 Provision for Christmas bonus 21,325 - Healthcare plan (i) 117,551 86,147 Provision for profit sharing (ii) 122,353 97,514 Incentivized Dismissal Program - IDP (iii) 192,626 290,202 Consent Decree (TAC) 5,161 6,093 Knowledge Retention Program (KRP) 1,016 1,184 Total 742,587 807,440 |
Pension plan obligations (Table
Pension plan obligations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Pension Plan Obligations | |
Schedule of pension plan benefits | Schedule of pension plan benefits G1 Plan G0 Plan Total Pension plan obligations as of December 31, 2023 (44,249) (2,098,622) (2,142,871) (Expenses) recognized in 2024 (1,560) (47,319) (48,879) Payments made in 2024 10,096 50,424 60,520 Pension plan obligations as of March 31, 2024 (35,713) (2,095,517) (2,131,230) G1 Plan G0 Plan Total Pension plan obligations as of December 31, 2022 (148,116) (2,002,075) (2,150,191) (Expenses) / revenues recognized in 2023 4,384 (56,305) (51,921) Payments made in 2023 10,124 48,200 58,324 Pension plan obligations as of March 31, 2023 (133,608) (2,010,180) (2,143,788) |
Schedule of reconciliation of expenses with pension obligations | Schedule of reconciliation of expenses with pension obligations March 31, 2024 March 31, 2023 G1 Plan (i) 1,560 (4,384) G0 Plan (ii) 47,319 56,305 Sabesprev Mais Plan (iii) 6,750 6,603 VIVEST Plan (iv) 189 84 Subtotal 55,818 58,608 Capitalized (1,150) (764) Reimbursement of additional retirement and pension benefits paid (G0) (28,040) (24,622) Other 1,508 1,441 Pension plan obligations (Note 27) 28,136 34,663 |
Equity (Tables)
Equity (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Equity Abstract | |
Schedule of share capital | Schedule of share capital March 31, 2024 December 31, 2023 Number of shares % Number of shares % São Paulo State 343,506,664 50.3 343,506,664 50.3 Other shareholders In Brazil (1) 266,922,203 39.0 257,339,417 37.6 Abroad (2) 73,081,002 10.7 82,663,788 12.1 Total 683,509,869 100.0 683,509,869 100.0 (1) As of March 31, 2024, the common shares traded in Brazil were held by 49,847 shareholders. It includes six shares held by Cia Paulista de Parcerias – CPP, a company controlled by the São Paulo State Government. (2) Shares traded as American Depositary Receipts (ADR) on the New York Stock Exchange, through The Bank New York Mellon, the depositary bank of the Company’s ADRs. |
Earnings per share (Tables)
Earnings per share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of earning per share basic and diluted | Schedule of earning per share basic and diluted January to March 2024 January to March 2023 Profit attributable to the Company’s owners 823,295 747,212 Weighted average number of common shares issued 683,509,869 683,509,869 Basic and diluted earnings per share (reais per share) 1.20451 1.09320 |
Operating segment information (
Operating segment information (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Operating Segment Information | |
Schedule of operating segment information | Schedule of operating segment information January to March 2024 Sanitation (i) Reconciliation to the income statement (ii) Balance according to the financial statements Gross operating revenue 5,661,099 1,336,778 6,997,877 Gross sales deductions (437,631) - (437,631) Net operating revenue 5,223,468 1,336,778 6,560,246 Costs, selling, general, and administrative expenses (3,607,447) (1,306,723) (4,914,170) Income from operations before other operating expenses, net and equity accounting 1,616,021 30,055 1,646,076 Other operating income (expenses), net 7,086 Equity results of investments 8,893 Financial result, net (338,195) Income from operations before taxes 1,323,860 Depreciation and amortization (773,785) - (773,785) January to March 2023 Sanitation (i) Reconciliation to the income statement (ii) Balance according to the financial statements Gross operating revenue 4,909,274 1,179,534 6,088,808 Gross sales deductions (390,439) - (390,439) Net operating revenue 4,518,835 1,179,534 5,698,369 Costs, selling, general, and administrative expenses (3,173,849) (1,153,015) (4,326,864) Income from operations before other operating expenses, net and equity accounting 1,344,986 26,519 1,371,505 Other operating income (expenses), net 14,634 Equity results of investments 6,334 Financial result, net (259,528) Income from operations before taxes 1,132,945 Depreciation and amortization (657,145) - (657,145) (i) See Note 31 for further information about non-cash items, other than depreciation and amortization that impact segment results, and for additional information on long-lived assets. (ii) Construction revenue and related costs are not reported to the CODM. Revenue from construction is recognized under IFRIC 12 (Concession Agreements) and IFRS 15 (Revenue from Contracts with Customers), as all performance obligations are met over time. See Note 13 (b) for further information. |
Operating revenue (Tables)
Operating revenue (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of reconciliation from gross operating revenue to net operating revenue | Schedule of reconciliation from gross operating revenue to net operating revenue January to March 2024 January to March 2023 Revenue from sanitation services (i) 5,661,099 4,909,274 Construction revenue 1,336,778 1,179,534 Sales tax (410,786) (370,298) Regulation, Control and Oversight Fee (TRCF) (26,845) (20,141) Net revenue 6,560,246 5,698,369 (i) Includes R$ 28,406 from the TRCF charged from customers from January to March 2024 (R$ 24,019 from January to March 2023), referring to the municipalities regulated by ARSESP. |
Operating costs and expenses (T
Operating costs and expenses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of operating costs and expenses | Schedule of operating costs and expenses January to March 2024 January to March 2023 Operating costs Salaries, payroll charges, and benefits (505,690) (583,855) Pension plan obligations (5,810) (1,656) Construction costs (Note 25) (1,306,723) (1,153,015) General supplies (113,440) (85,831) Treatment supplies (141,370) (164,899) Outsourced services (504,745) (435,484) Electricity (393,822) (395,026) General expenses (283,516) (227,169) Depreciation and amortization (720,311) (606,788) (3,975,427) (3,653,723) Selling expenses Salaries, payroll charges, and benefits (62,115) (70,517) Pension plan obligations (840) (185) General supplies (1,859) (1,067) Outsourced services (101,066) (109,177) Electricity (210) (191) General expenses (26,628) (27,626) Depreciation and amortization (17,369) (16,894) (210,087) (225,657) Bad debt expense, net of recoveries (Note 9 (c)) (190,518) (162,805) Administrative expenses Salaries, payroll charges, and benefits (112,499) (55,142) Pension plan obligations (21,486) (32,822) General supplies 24,510 (601) Outsourced services (77,011) (80,267) Electricity (372) (583) General expenses (294,810) (60,011) Depreciation and amortization (36,105) (33,463) Tax expenses (20,365) (21,790) (538,138) (284,679) Operating costs and expenses Salaries, payroll charges, and benefits (680,304) (709,514) Pension plan obligations (Note 21 (v)) (28,136) (34,663) Construction costs (Note 25) (1,306,723) (1,153,015) General supplies (90,789) (87,499) Treatment supplies (141,370) (164,899) Outsourced services (682,822) (624,928) Electricity (394,404) (395,800) General expenses (604,954) (314,806) Depreciation and amortization (773,785) (657,145) Tax expenses (20,365) (21,790) Bad debt expense, net of recoveries (Note 9 (c)) (190,518) (162,805) (4,914,170) (4,326,864) |
Financial income (expenses) (Ta
Financial income (expenses) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of financial income (expenses) | Schedule of financial income (expenses) January to March 2024 January to March 2023 Financial expenses Interest and charges on borrowings and financing – local currency (276,622) (273,106) Interest and charges on borrowings and financing – foreign currency (28,720) (21,049) Other financial expenses (175,160) (101,732) Inflation adjustment on borrowings and financing (54,036) (70,509) Other inflation adjustments (13,265) (50,463) Interest and inflation adjustment on provisions (44,300) (45,612) Total financial expenses (592,103) (562,471) Financial revenue Inflation adjustment gains 55,881 60,314 Income on financial investments 110,375 103,217 Interest income 92,932 66,560 Cofins and Pasep (11,615) (10,788) Other 2 17 Total financial income 247,575 219,320 Financial income (expenses), net of exchange rate changes (344,528) (343,151) Exchange gain (losses) Exchange rate changes on borrowings and financing 6,335 83,825 Exchange rate changes on assets 1 (201) Other exchange rate changes (3) (1) Exchange rate changes, net 6,333 83,623 Financial income (expenses) (338,195) (259,528) |
Other operating income (expen_2
Other operating income (expenses), net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of operating income (expenses), net | Schedule of operating income (expenses), net January to March 2024 January to March 2023 Other operating income, net 10,291 20,352 Other operating expenses (3,205) (5,718) Other operating income (expenses), net 7,086 14,634 |
Commitments (Tables)
Commitments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes and other explanatory information [abstract] | |
Schedule of commitments | Schedule of commitments 1 year 1-3 years 3-5 years More than 5 years Total Contractual obligations – Expenses 1,854,851 2,319,376 1,377,556 4,349,060 9,900,843 Contractual obligations - Investments 4,174,937 2,719,760 1,136,509 82,392 8,113,598 Total 6,029,788 5,039,136 2,514,065 4,431,452 18,014,441 |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Supplemental Cash Flow Information | |
Schedule of Supplemental cash flow information | Schedule of Supplemental cash flow information January to March 2024 January to March 2023 Total additions to contract assets (Note 13) 1,270,667 1,204,867 Total additions to intangible assets (Note 14 (b)) 133,759 322 Items not affecting cash (see breakdown below ) (833,016) (634,857) Total additions to intangible and contract assets according to the statement of cash flows 571,410 570,332 Investments and financing operations affecting intangible assets but not cash: Interest capitalized in the period (Note 13 (a)) 154,395 167,802 Contractors payable 453,671 240,833 Performance agreements 64,229 199,383 Right of use 130,666 320 Construction margin (Note 25) 30,055 26,519 Total 833,016 634,857 |
Operations (Details)
Operations (Details) - Sao Paulo [Member] R$ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 BRL (R$) Municipalities | Mar. 31, 2023 BRL (R$) Municipalities | Dec. 31, 2023 BRL (R$) Municipalities | |
IfrsStatementLineItems [Line Items] | |||
Municipalities that have already signed contracts: | Municipalities | 351 | 351 | 351 |
Balance – intangible and contract assets | R$ 49485788 | R$ 45931674 | R$ 48759219 |
Percentage of intangible and contract assets | 95.10% | 94.79% | 95.12% |
Revenue from sanitation services (excluding construction revenue) | R$ 5384173 | R$ 4678421 | R$ 20510427 |
Percentage of revenue from sanitation services (excluding construction revenue) | 95.11% | 95.30% | 95.35% |
Other Municipalities - Olimpia | Municipalities | 1 | 1 | |
Balance – intangible and contract assets | R$ 146715 | R$ 147589 | |
Percentage of intangible and contract assets | 0.28% | 0.29% | |
Revenue from sanitation services (excluding construction revenue) | R$ 8525 | R$ 3477 | |
Percentage of revenue from sanitation services (excluding construction revenue) | 0.15% | 0.02% | |
Municipalities with expired contracts: | Municipalities | 1 | 1 | 1 |
Balance – intangible and contract assets | R$ 11429 | R$ 11443 | R$ 11309 |
Percentage of intangible and contract assets | 0.02% | 0.02% | 0.02% |
Revenue from sanitation services (excluding construction revenue) | R$ 4361 | R$ 3822 | R$ 17559 |
Percentage of revenue from sanitation services (excluding construction revenue) | 0.08% | 0.08% | 0.08% |
Municipalities with concession agreements due by 2030: | Municipalities | 23 | 23 | 23 |
Balance – intangible and contract assets | R$ 1045481 | R$ 1064090 | R$ 1051209 |
Percentage of intangible and contract assets | 2.02% | 2.20% | 2.05% |
Revenue from sanitation services (excluding construction revenue) | R$ 223943 | R$ 189704 | R$ 833418 |
Percentage of revenue from sanitation services (excluding construction revenue) | 3.96% | 3.86% | 3.87% |
Municipality of São Paulo: | |||
Percentage of intangible and contract assets | 43.08% | 43.21% | 43.40% |
Percentage of revenue from sanitation services (excluding construction revenue) | 43.49% | 44.53% | 44.95% |
Risk management (Details)
Risk management (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Total exposure | R$ 2671887 | R$ 2785853 |
Total foreign currency-denominated borrowings | 2,631,092 | 2,745,891 |
United State Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing | 1,359,011 | 1,356,474 |
Interest and charges from borrowings and financing | 20,264 | 15,510 |
Borrowing cost | (38,404) | (37,520) |
United State Currency [Member] | Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing | 272,009 | 280,188 |
Japan Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing | 1,289,943 | 1,405,702 |
Interest and charges from borrowings and financing | 2,669 | 8,167 |
Borrowing cost | (2,391) | (2,442) |
Japan Currency [Member] | Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing | R$ 39077331 | R$ 41078385 |
Risk management (Details 1)
Risk management (Details 1) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
Lene [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rate variation | (3.50%) | (3.50%) |
Exchange rate | $ 0.03301 | $ 0.03422 |
United State Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rate | $ 4.9962 | $ 4.8413 |
Exchange rate variation | 3.20% | 3.20% |
Risk management (Details 2)
Risk management (Details 2) - Probable Scenario [Member] R$ in Thousands | 3 Months Ended |
Mar. 31, 2024 BRL (R$) Number | |
IfrsStatementLineItems [Line Items] | |
Total effect on the net financial result in (loss) | R$ 49535 |
United State Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Net currency exposure | R$ 272009 |
Currency rate | Number | 4.9962 |
Exchange rate estimated according to the scenario | Number | 4.9700 |
Differences between the rates | 0.0262% |
Effect on net financial result R$ - (gain) | R$ 7127 |
Japan Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Net currency exposure | R$ 39077331 |
Currency rate | Number | 0.03301 |
Exchange rate estimated according to the scenario | Number | 0.03446 |
Differences between the rates | (0.00145%) |
Effect on the net financial result R$ - (loss) | R$ 56662 |
Risk management (Details 3)
Risk management (Details 3) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 20305457 | R$ 17804385 |
Certificado De Deposito Interbancario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 12,672,245 | 9,966,111 |
Interest Benchmark Rates [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 1,656,774 | 1,684,711 |
Indice Nacional De Precos Ao Consumidor Amplos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 2,927,406 | 3,038,378 |
Taxa De Juros A Longo Prazos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 1,290,064 | 1,365,806 |
Secured Overnight Financing Rate [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 1,359,011 | 1,356,473 |
Interest And Charge [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 399957 | R$ 392906 |
Risk management (Details 4)
Risk management (Details 4) | 3 Months Ended |
Mar. 31, 2024 | |
Fitch [Member] | Banco Do Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA(bra) |
Fitch [Member] | Banco Santander Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | |
Fitch [Member] | Brazilian Federal Savings Bank [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA(bra) |
Fitch [Member] | Banco Bradesco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA(bra) |
Fitch [Member] | Banco Itau Unibanco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA(bra) |
Fitch [Member] | Banco B V [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | |
Fitch [Member] | Banco B T G Pactual S A [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA(bra) |
Moodys [Member] | Banco Do Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Moodys [Member] | Banco Santander Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Moodys [Member] | Brazilian Federal Savings Bank [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Moodys [Member] | Banco Bradesco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Moodys [Member] | Banco Itau Unibanco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Moodys [Member] | Banco B V [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AA.br |
Moodys [Member] | Banco B T G Pactual S A [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | AAA.br |
Standard Poors [Member] | Banco Do Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | |
Standard Poors [Member] | Banco Santander Brasil [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | brAAA |
Standard Poors [Member] | Brazilian Federal Savings Bank [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | brAAA |
Standard Poors [Member] | Banco Bradesco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | brAAA |
Standard Poors [Member] | Banco Itau Unibanco [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | |
Standard Poors [Member] | Banco B V [Member] | |
IfrsStatementLineItems [Line Items] | |
Credit rating information of the banks | brAAA |
Risk management (Details 5)
Risk management (Details 5) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Cash and cash equivalents and financial investments | R$ 6191982 | R$ 3265236 |
Banco B V [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current accounts and investment funds | 329,381 | 322,241 |
A A A Bra [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cash and cash equivalents and financial investments | 5,859,198 | 2,940,690 |
Others [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cash and cash equivalents and financial investments | R$ 332784 | R$ 324546 |
Risk management (Details 6)
Risk management (Details 6) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Liabilities | ||
Borrowings and financing | R$ 29485118 | |
Trade payables and contractors | 490,494 | |
Services payable | 838,703 | R$ 750732 |
Public-Private Partnership - PPP | 8,367,087 | |
Program Contract Commitments | 36,940 | |
Total | 39,218,342 | |
Twenty Twenty Four [Member] | ||
Liabilities | ||
Borrowings and financing | 3,051,567 | |
Trade payables and contractors | 490,494 | |
Services payable | 838,703 | |
Public-Private Partnership - PPP | 432,216 | |
Program Contract Commitments | 20,310 | |
Total | 4,833,290 | |
Twenty Twenty Five [Member] | ||
Liabilities | ||
Borrowings and financing | 3,773,001 | |
Trade payables and contractors | ||
Services payable | ||
Public-Private Partnership - PPP | 446,524 | |
Program Contract Commitments | 1,232 | |
Total | 4,220,757 | |
Twenty Twenty Six [Member] | ||
Liabilities | ||
Borrowings and financing | 3,368,294 | |
Trade payables and contractors | ||
Services payable | ||
Public-Private Partnership - PPP | 461,438 | |
Program Contract Commitments | 1,232 | |
Total | 3,830,964 | |
Twenty Twenty Seven [Member] | ||
Liabilities | ||
Borrowings and financing | 3,278,126 | |
Trade payables and contractors | ||
Services payable | ||
Public-Private Partnership - PPP | 476,850 | |
Program Contract Commitments | 1,232 | |
Total | 3,756,208 | |
Twenty Twenty Eight [Member] | ||
Liabilities | ||
Borrowings and financing | 2,418,568 | |
Trade payables and contractors | ||
Services payable | ||
Public-Private Partnership - PPP | 492,777 | |
Program Contract Commitments | 1,232 | |
Total | 2,912,577 | |
Twenty Twenty Nine Onwards [Member] | ||
Liabilities | ||
Borrowings and financing | 13,595,562 | |
Trade payables and contractors | ||
Services payable | ||
Public-Private Partnership - PPP | 6,057,282 | |
Program Contract Commitments | 11,702 | |
Total | R$ 19664546 |
Risk management (Details 7)
Risk management (Details 7) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Exposure interest rate risk | R$ 2671887 | R$ 2785853 |
Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | (893,401) | |
Probable Scenario [Member] | Interest rate risk [member] | Interest To Be Incurred [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | (1,248,216) | |
Probable Scenario [Member] | Interest rate risk [member] | Financial Income [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Assets | 606,979 | |
C D I [Member] | Exposure [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Assets | 6,162,220 | |
Liabilities | (12,672,245) | |
Exposure interest rate risk | R$ 6510025 | |
C D I [Member] | Probable Scenario [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Assets Interest Rate | 9.85% | |
Liabilities Interest Rate | 9.85% | |
Exposure interest rate risk | R$ 641237 | |
T R [Member] | Exposure [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 1656774 | |
T R [Member] | Probable Scenario [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities Interest Rate | 0.0048% | |
T R [Member] | Probable Scenario [Member] | Interest rate risk [member] | Expenses To Be Incurred [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 80 | |
I P C A [Member] | Exposure [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 2927406 | |
I P C A [Member] | Probable Scenario [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities Interest Rate | 3.46% | |
I P C A [Member] | Probable Scenario [Member] | Interest rate risk [member] | Expenses To Be Incurred [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 101288 | |
T J L P [Member] | Exposure [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 1290064 | |
T J L P [Member] | Probable Scenario [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities Interest Rate | 6.38% | |
T J L P [Member] | Probable Scenario [Member] | Interest rate risk [member] | Interest To Be Incurred [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 82306 | |
L I B O R [Member] | Exposure [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 1359011 | |
L I B O R [Member] | Probable Scenario [Member] | Interest rate risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities Interest Rate | 5.0397% | |
L I B O R [Member] | Probable Scenario [Member] | Interest rate risk [member] | Interest To Be Incurred [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | R$ 68490 |
Risk management (Details 8)
Risk management (Details 8) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Risk Management | ||||
Total borrowings and financing (Note 16) | R$ 22024307 | R$ 19536350 | R$ 18295923 | R$ 18958671 |
(-) Cash and cash equivalents (Note 6) | (2,019,391) | (838,484) | ||
(-) Financial investments (Note 7) | (4,172,591) | (2,426,752) | ||
Net debt | 15,832,325 | 16,271,114 | ||
Total equity | 30,680,671 | 29,857,376 | R$ 28080745 | R$ 27333533 |
Total (shareholders plus providers of capital) | R$ 46512996 | R$ 46128490 | ||
Leverage ratio | 34% | 35% |
Risk management (Details 9)
Risk management (Details 9) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Financial investments | R$ 4172591 | R$ 2426752 |
Restricted cash | 45,694 | 54,944 |
Trade receivables | 5,313,095 | 5,233,932 |
Water and Basic Sanitation National Agency ANA | 1,879 | 2,673 |
Carrying amount [member] | ||
IfrsStatementLineItems [Line Items] | ||
Cash and cash equivalents | 2,019,391 | 838,484 |
Financial investments | 4,172,591 | 2,426,752 |
Restricted cash | 45,694 | 54,944 |
Trade receivables | 3,936,233 | 3,856,723 |
Water and Basic Sanitation National Agency ANA | 1,879 | 2,673 |
Other assets | 237,270 | 196,065 |
Fair Values [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cash and cash equivalents | 2,019,391 | 838,484 |
Financial investments | 4,172,591 | 2,426,752 |
Restricted cash | 45,694 | 54,944 |
Trade receivables | 3,936,233 | 3,856,723 |
Water and Basic Sanitation National Agency ANA | 1,879 | 2,673 |
Other assets | R$ 237270 | R$ 196065 |
Risk management (Details 10)
Risk management (Details 10) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | R$ 22024307 | R$ 19536350 | R$ 18295923 | R$ 18958671 |
Services payable | 838,703 | 750,732 | ||
Public-Private Partnership - PPP | 2,787,032 | 2,798,688 | ||
Carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 22,024,307 | 19,536,350 | ||
Trade payables and contractors | 490,494 | 456,215 | ||
Services payable | 838,703 | 750,732 | ||
Program contract commitments | 33,035 | 34,016 | ||
Public-Private Partnership - PPP | 3,222,703 | 3,286,614 | ||
Fair Values [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 22,444,692 | 19,950,055 | ||
Trade payables and contractors | 490,494 | 456,215 | ||
Services payable | 838,703 | 750,732 | ||
Program contract commitments | 33,035 | 34,016 | ||
Public-Private Partnership - PPP | R$ 3222703 | R$ 3286614 |
Risk management (Details Narrat
Risk management (Details Narrative) - BRL (R$) R$ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Risk Management | |||
Total exposure | R$ 2671887 | R$ 2785853 | |
Liabilities related to exchange rate variation of borrowings and financing contracts | 6,335 | R$ 83825 | |
Income before taxes | 267,189 | 266,878 | |
Effects on profit for the year before taxes | 203,055 | R$ 163164 | |
Financial assets receivable from related parties | 1,198,932 | 1,196,545 | |
Reimbursement of additional retirement and pension plan | R$ 1081079 | R$ 1076174 |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Cash And Cash Equivalents | ||||
Cash and banks | R$ 27042 | R$ 31187 | ||
Cash equivalents | 1,992,349 | 807,297 | ||
Total | R$ 2019391 | R$ 838484 | R$ 836450 | R$ 1867485 |
Cash and cash equivalents (De_2
Cash and cash equivalents (Details Narrative) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Certificado De Deposito Interbancario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average yield of cash equivalents | 96.67% | 96.25% |
Financial investments (Details)
Financial investments (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Financial investments | R$ 4172591 | R$ 2426752 |
Banco B V [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial investments | 329,380 | 322,240 |
Banco Bradesco S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial investments | 657,631 | 643,445 |
Banco B T G Pactual S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial investments | 459,170 | 449,241 |
Banco Do Brasil S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial investments | R$ 2726410 | R$ 1011826 |
Financial investments (Details
Financial investments (Details Narrative) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Certificado De Deposito Interbancario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average yield of financial instrument | 103.30% | 103.30% |
Restricted cash (Details)
Restricted cash (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Restricted cash | R$ 45694 | R$ 54944 |
Agreementwiththe Sao Paulo Municipal Government [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Restricted cash | 38,690 | 47,749 |
Brazilian Federal Savings Bank Escrow Deposites [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Restricted cash | 442 | 365 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Restricted cash | R$ 6562 | R$ 6830 |
Trade receivables (Details)
Trade receivables (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Subtotal | R$ 5313095 | R$ 5233932 |
Allowance for doubtful accounts | (1,376,862) | (1,377,209) |
Total trade receivables | 3,936,233 | 3,856,723 |
Current | 3,590,432 | 3,584,287 |
Noncurrent | 345,801 | 272,436 |
Private Sector [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 2,865,622 | 3,039,931 |
Private Sector [Member] | General And Special Customers [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 2,687,984 | 2,200,921 |
Private Sector [Member] | Agreements [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 177,638 | 839,010 |
Government Entities [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 1,266,561 | 1,006,009 |
Government Entities [Member] | Agreements [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 658,021 | 374,372 |
Government Entities [Member] | Municipal [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 598,602 | 623,601 |
Government Entities [Member] | Federal [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 9,938 | 8,036 |
Wholesale Customers Municipal Governments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 88,745 | 49,676 |
Wholesale Customers Municipal Governments [Member] | Mogi Das Cruzes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 4,134 | 4,343 |
Wholesale Customers Municipal Governments [Member] | Sao Caetano Do Sul [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 8,109 | 45,333 |
Wholesale Customers Municipal Governments [Member] | Sao Caetano Do Sul Agreement [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 76,502 | |
Unbilled Supply [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | R$ 1092167 | R$ 1138316 |
Trade receivables (Details 1)
Trade receivables (Details 1) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 5313095 | R$ 5233932 |
Current [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 2,852,858 | 2,723,975 |
Not later than one month [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 573,435 | 627,986 |
Later than one month and not later than two months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 265,847 | 271,476 |
Later than two months and not later than three months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 189,807 | 181,639 |
Later than three months and not later than four months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 142,875 | 127,421 |
Later Than Four Month And Not Later Than Six Months [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 304,359 | 290,610 |
Later than six months and not later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 179,209 | 57,289 |
Later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 804,705 | 953,536 |
Past Due [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 2460237 | R$ 2509957 |
Trade receivables (Details 2)
Trade receivables (Details 2) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Trade Receivables | ||
Balance at the beginning of the period | R$ 1377209 | R$ 1428517 |
Creation/(reversal) of losses | 40,097 | (8,449) |
Recoveries | (40,444) | (19,627) |
Balance at the end of the period | R$ 1376862 | R$ 1400441 |
Trade receivables (Details 3)
Trade receivables (Details 3) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Trade Receivables | ||
Write-offs | R$ 190285 | R$ 190138 |
(Losses)/reversal with state entities – related parties | (580) | (743) |
(Losses)/reversal with the private sector/government entities | (40,097) | 8,449 |
Recoveries | 40,444 | 19,627 |
Amount recorded as expense (Note 27) | R$ 190518 | R$ 162805 |
Trade receivables (Details 4)
Trade receivables (Details 4) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | R$ 3232377 | R$ 3085265 |
Municipality Of Sao Paulo [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | 3,139,801 | 3,042,927 |
Sao Paulo State Government [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | 41,359 | |
Municipality Of Cachoeira Paulista [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | 15,871 | 15,456 |
Municipality Of Agudos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | 13,061 | 14,964 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Registered warrants current | R$ 22285 | R$ 11918 |
Trade receivables (Details Narr
Trade receivables (Details Narrative) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Trade Receivables | ||
Registered warrants current | R$ 3232377 | R$ 3085265 |
Related-party balances and tr_3
Related-party balances and transactions (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Total current | R$ 266662 | R$ 261280 |
Accounts receivable, noncurrent | 932,308 | 935,272 |
Total receivables | 1,198,970 | 1,196,552 |
Total | 1,198,970 | 1,196,552 |
Liabilities | 34,365,075 | 31,613,581 |
Agreement For The Installment Payment Of Sanitation Services [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accounts receivable, noncurrent | 1,361 | 1,361 |
Reimbursement G E S P 2015 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accounts receivable, noncurrent | 930,947 | 933,911 |
Sanitation Services [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 117,891 | 120,378 |
Reimbursement For Retirement And Pension Benefits Paid [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 1,081,079 | 1,076,174 |
Interest On Capital Payable [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Liabilities | 420,564 | 420,564 |
Sanitation Services [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current | 167,608 | 169,515 |
Allowance For Loss [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current | (51,078) | (50,498) |
Monthly Flow Paymentsiiandvi [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current | 41,929 | 36,241 |
Reimbursement G E S P 2015 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current | R$ 108203 | R$ 106022 |
Related-party balances and tr_4
Related-party balances and transactions (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Revenues | R$ 6560246 | R$ 5698369 |
Revenue From Sanitation Services [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Revenues | 162,966 | 186,144 |
Payments From Related Parties [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Revenues | (167,612) | (186,205) |
Payment Received From Reimbursement [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Revenues | R$ 52593 | R$ 47816 |
Related-party balances and tr_5
Related-party balances and transactions (Details Narrative) - BRL (R$) R$ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | |||
Additional retirement and pension benefits paid | R$ 1605832 | R$ 1583449 | |
Actuarial liability amount | 2,095,517 | 2,098,622 | |
Other liabilities, current | 9,197 | 8,876 | |
Other liabilities, non-current | 103,572 | 99,279 | |
Expenses related to personnel assigned by SABESP to other state government entities | 3,518 | R$ 672 | |
Non-operating assets | 3,613 | 3,613 | |
Net actuarial liability | 35,713 | 44,249 | |
Compensation to officers | 2,470 | 1,658 | |
Bonus program | 540 | R$ 285 | |
Balance of principal and interest of Sabesp Olimpia | 81,059 | ||
Financing amount | 1,136 | 1,278 | |
Aguas De Andradina [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other assets, current | 812 | 694 | |
Other assets, non current | R$ 2814 | R$ 2814 |
Investments (Details)
Investments (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 30680671 | R$ 28080745 | R$ 29857376 | R$ 27333533 |
Profit for the year | 823,295 | 747,212 | ||
Investments | 139,412 | 130,520 | ||
Equity in the earnings of subsidiaries | 9,009 | |||
Other investments | 6,099 | 6,099 | ||
Overall total | 170,529 | 161,863 | ||
Seasamm [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | 65,511 | 61,275 | ||
Contribution | ||||
Profit for the year | 4,236 | 4,630 | ||
Investments | 23,584 | R$ 22059 | ||
Equity in the earnings of subsidiaries | R$ 1525 | |||
Interest percentage | 36% | 36% | ||
Aguas De Andradinas [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 35582 | R$ 34088 | ||
Contribution | ||||
Profit for the year | 1,494 | 389 | ||
Investments | 10,673 | R$ 10225 | ||
Equity in the earnings of subsidiaries | R$ 448 | |||
Interest percentage | 30% | 30% | ||
Aguas De Castilho [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 13384 | R$ 12784 | ||
Contribution | ||||
Profit for the year | 600 | 402 | ||
Investments | 4,015 | R$ 3835 | ||
Equity in the earnings of subsidiaries | R$ 180 | |||
Interest percentage | 30% | 30% | ||
Attend Ambiental [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 47823 | R$ 43263 | ||
Contribution | ||||
Profit for the year | 4,560 | 4,016 | ||
Investments | 21,521 | R$ 19469 | ||
Equity in the earnings of subsidiaries | R$ 2052 | |||
Interest percentage | 45% | 45% | ||
Aquapolo Ambiental [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 112297 | R$ 102442 | ||
Contribution | ||||
Profit for the year | 9,855 | 8,610 | ||
Investments | 55,025 | R$ 50196 | ||
Equity in the earnings of subsidiaries | R$ 4829 | |||
Interest percentage | 49% | 49% | ||
Paulista Geradora De Energia [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 42917 | R$ 42307 | ||
Contribution | 590 | |||
Profit for the year | 20 | (28) | ||
Cantareira S P Energia [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | 10,711 | 10,650 | ||
Contribution | ||||
Profit for the year | 61 | (258) | ||
Investments | 5,242 | R$ 5212 | ||
Equity in the earnings of subsidiaries | R$ 30 | |||
Interest percentage | 49% | 49% | ||
F O X X U R E B A Ambiental [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 62430 | R$ 63309 | ||
Contribution | ||||
Profit for the year | (295) | (6,549) | ||
Investments | 12,486 | R$ 12663 | ||
Equity in the earnings of subsidiaries | R$ 60 | |||
Interest percentage | 20% | 20% | ||
Other investments | R$ 25018 | R$ 25244 | ||
Infranext Solucoesem Pavimentacao [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | 4,699 | 4,699 | ||
Contribution | ||||
Profit for the year | (340) | |||
Investments | ||||
Equity in the earnings of subsidiaries | ||||
Interest percentage | 45% | 45% | ||
Sabesp Olimpia [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity | R$ 3121 | R$ 3066 | ||
Contribution | ||||
Profit for the year | (55) | |||
Paulista Geradora De Energia 1 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Investments | 6,866 | R$ 6861 | ||
Equity in the earnings of subsidiaries | R$ 5 | |||
Interest percentage | 25% | 25% |
Investment Properties (Details)
Investment Properties (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Notes and other explanatory information [abstract] | ||
Investment properties, beginning | R$ 46678 | R$ 46726 |
Depreciation | (12) | (12) |
Investment properties, ending | R$ 46666 | R$ 46714 |
Investment Properties (Details
Investment Properties (Details Narrative) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Notes and other explanatory information [abstract] | ||
Investment property market value | R$ 393600 | R$ 393600 |
Contract assets (Details)
Contract assets (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Contract Asset | ||
Contract assets, beginning | R$ 7393096 | R$ 8613968 |
Additions | 1,270,667 | 1,204,867 |
Transfers | 1,952 | 280 |
Transfers of works to intangible assets | (1,082,990) | (1,105,061) |
Contract assets, ending | R$ 7582725 | R$ 8714054 |
Contract asset (Details Narrati
Contract asset (Details Narrative) - BRL (R$) R$ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2022 | |
Contract Asset | |||
Contract asset | R$ 175145 | R$ 276893 | |
Capitalized in contract asset | R$ 154395 | 167,802 | |
Construction margin | 30,046 | 26,519 | |
Expropriations | R$ 6750 | R$ 4015 |
Intangible assets (Details)
Intangible assets (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Cost | R$ 66384034 | R$ 65239037 |
Accumulated amortization | (21,924,912) | (21,226,179) |
Net | 44,459,122 | 44,012,858 |
Agreements Equity Values [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 754,555 | 747,925 |
Accumulated amortization | (247,159) | (241,808) |
Net | 507,396 | 506,117 |
Agreements Economic Value [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 1,687,440 | 1,686,384 |
Accumulated amortization | (1,085,649) | (1,048,624) |
Net | 601,791 | 637,760 |
Agreements Concessio New Contracts [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 148,000 | 148,000 |
Accumulated amortization | (1,644) | (411) |
Net | 146,356 | 147,589 |
Program Contracts [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 30,924,633 | 30,267,977 |
Accumulated amortization | (9,874,351) | (9,583,480) |
Net | 21,050,282 | 20,684,497 |
Program Contract Commitments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 1,709,757 | 1,709,757 |
Accumulated amortization | (510,973) | (497,731) |
Net | 1,198,784 | 1,212,026 |
Service Contracts Sao Paulo[Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 29,557,680 | 29,161,286 |
Accumulated amortization | (9,318,616) | (8,967,701) |
Net | 20,239,064 | 20,193,585 |
Software Licenses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 1,310,942 | 1,300,504 |
Accumulated amortization | (822,184) | (787,280) |
Net | 488,758 | 513,224 |
Right Of Uses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Cost | 291,027 | 217,204 |
Accumulated amortization | (64,336) | (99,144) |
Net | R$ 226691 | R$ 118060 |
Intangible assets (Details 1)
Intangible assets (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | R$ 44012858 | R$ 39320871 |
Additions | 133,759 | 322 |
Transfer of contract assets | 1,082,990 | 1,105,061 |
Transfers | (4,843) | (28,780) |
Write-offs and disposals | (804) | (3,232) |
Amortization | (764,838) | (650,041) |
Intangible assets, ending | 44,459,122 | 39,744,201 |
Agreements Equity Value [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 506,117 | 499,326 |
Additions | ||
Transfer of contract assets | 6,587 | 4,098 |
Transfers | 39 | (955) |
Write-offs and disposals | (20) | (6) |
Amortization | (5,327) | (4,994) |
Intangible assets, ending | 507,396 | 497,469 |
Agreements Economic Value [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 637,760 | 652,039 |
Additions | ||
Transfer of contract assets | 1,089 | 2,589 |
Transfers | (4) | 331 |
Write-offs and disposals | (85) | |
Amortization | (37,054) | (30,249) |
Intangible assets, ending | 601,791 | 624,625 |
Agreements New Contracts [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 147,589 | |
Additions | ||
Transfer of contract assets | ||
Transfers | ||
Write-offs and disposals | ||
Amortization | (1,233) | |
Intangible assets, ending | 146,356 | |
Program Contracts [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 20,684,497 | 18,337,459 |
Additions | 181 | 2 |
Transfer of contract assets | 663,509 | 569,717 |
Transfers | (930) | (288) |
Write-offs and disposals | (606) | (2,055) |
Amortization | (296,369) | (252,011) |
Intangible assets, ending | 21,050,282 | 18,652,824 |
Program Contracts Commitments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 1,212,026 | 1,264,992 |
Additions | ||
Transfer of contract assets | ||
Transfers | ||
Write-offs and disposals | ||
Amortization | (13,242) | (13,242) |
Intangible assets, ending | 1,198,784 | 1,251,750 |
Service Contracts Sao Paulo[Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 20,193,585 | 17,870,451 |
Additions | ||
Transfer of contract assets | 404,279 | 513,453 |
Transfers | (3,949) | (1,720) |
Write-offs and disposals | (132) | (1,056) |
Amortization | (354,719) | (299,179) |
Intangible assets, ending | 20,239,064 | 18,081,949 |
Software License [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 513,224 | 595,404 |
Additions | 2,911 | |
Transfer of contract assets | 7,526 | 15,204 |
Transfers | 1 | |
Write-offs and disposals | ||
Amortization | (34,904) | (33,105) |
Intangible assets, ending | 488,758 | 577,503 |
Right Of Use Other Assets [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 118,060 | 75,052 |
Additions | 130,667 | 320 |
Transfer of contract assets | ||
Transfers | ||
Write-offs and disposals | (46) | (30) |
Amortization | (21,990) | (17,261) |
Intangible assets, ending | R$ 226691 | 58,081 |
Right Of Use Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets, beginning | 26,148 | |
Additions | ||
Transfer of contract assets | ||
Transfers | (26,148) | |
Write-offs and disposals | ||
Amortization | ||
Intangible assets, ending |
Intangible assets (Details 2)
Intangible assets (Details 2) - BRL (R$) R$ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Intangible assets | R$ 2744673 | R$ 2791226 |
Alto Tiete [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 231,146 | 235,224 |
Sao Lourenco [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | R$ 2513527 | R$ 2556002 |
Intangible assets (Details 3)
Intangible assets (Details 3) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Current liabilities | R$ 435671 | R$ 487926 |
Noncurrent liabilities | 2,787,032 | 2,798,688 |
Total liabilities | 3,222,703 | 3,286,614 |
Alto Tiete [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current liabilities | 52,762 | |
Noncurrent liabilities | ||
Total liabilities | 52,762 | |
Sao Lourenco [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current liabilities | 435,671 | 435,164 |
Noncurrent liabilities | 2,787,032 | 2,798,688 |
Total liabilities | R$ 3222703 | R$ 3233852 |
Intangible assets (Details 4)
Intangible assets (Details 4) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | R$ 592267 | R$ 492739 |
Leases Related To Concession Agreements And Program Contract [Member] | Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | 582,617 | 588,600 |
Leases Related To Concession Agreements And Program Contract [Member] | Accumulated Amortizations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accumulated amortization | (217,041) | (213,921) |
Leases Related To Concession Agreements And Program Net [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | 365,576 | 374,679 |
Vehicles [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | 232,477 | 205,593 |
Properties [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | 58,505 | 11,566 |
Office equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | 45 | 45 |
Accumulated Amortization [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accumulated amortization | (64,336) | (99,144) |
Right Of Use Assets Net [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Leases and Right of use | R$ 226691 | R$ 118060 |
Intangible assets (Details 5)
Intangible assets (Details 5) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Intangible Assets | ||
Right of use amortization | R$ 25110 | R$ 23037 |
Financial result - interest expense and inflation adjustment | (31,298) | (18,127) |
Expenses of short-term leases with low value | (3,151) | (8,518) |
Reduction of profit for the period | R$ 59559 | R$ 49682 |
Intangible assets (Details Narr
Intangible assets (Details Narrative) - BRL (R$) R$ in Thousands | Jun. 01, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | |||||
Right of use | R$ 11400 | R$ 44459122 | R$ 44012858 | R$ 39744201 | R$ 39320871 |
Program contracts commitments, current | 20,986 | 21,969 | |||
Program contracts commitments, noncurrent | R$ 12139 | R$ 12047 | |||
Amortization average rate | 5.10% | 5% | |||
Agreements in force recorded in contract asset | R$ 182365 | R$ 183876 | |||
Agreements in force recorded in intangible assets | 2,209,196 | R$ 2191361 | |||
Concession Agreements [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Right of use | 51,692 | 54,356 | |||
Program Contracts [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Right of use | R$ 165104 | R$ 168216 |
Property, plant and equipment_2
Property, plant and equipment (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 877251 | R$ 859502 | ||
Accumulated depreciation | (392,939) | (384,943) | ||
Net | R$ 484312 | R$ 474559 | R$ 364870 | R$ 338939 |
Depreciation average rate | 9.60% | 9.70% | ||
Land [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 94228 | R$ 94228 | ||
Accumulated depreciation | ||||
Net | R$ 94228 | R$ 94228 | 94,228 | 94,228 |
Depreciation average rate | (0.00%) | (0.00%) | ||
Buildings [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 126959 | R$ 125672 | ||
Accumulated depreciation | (45,197) | (44,726) | ||
Net | R$ 81762 | R$ 80946 | 48,624 | 47,968 |
Depreciation average rate | 2.20% | 2.20% | ||
Office equipment [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 452917 | R$ 443380 | ||
Accumulated depreciation | (318,950) | (313,193) | ||
Net | R$ 133967 | R$ 130187 | 131,355 | 120,865 |
Depreciation average rate | 14.10% | 14.20% | ||
Transport Equipments [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 14904 | R$ 14625 | ||
Accumulated depreciation | (10,810) | (10,384) | ||
Net | R$ 4094 | R$ 4241 | 4,405 | 2,495 |
Depreciation average rate | 9.90% | 9.90% | ||
Fixtures and fittings [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 41123 | R$ 41049 | ||
Accumulated depreciation | (16,328) | (15,876) | ||
Net | R$ 24795 | R$ 25173 | 26,383 | 23,496 |
Depreciation average rate | 6.70% | 6.80% | ||
Other property, plant and equipment [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 147120 | R$ 140548 | ||
Accumulated depreciation | (1,654) | (764) | ||
Net | R$ 145466 | R$ 139784 | R$ 59875 | R$ 49887 |
Depreciation average rate | 6.50% | 6.50% |
Property, plant and equipment_3
Property, plant and equipment (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | R$ 474559 | R$ 338939 |
Additions | 15,911 | 30,954 |
Transfers | 2,891 | 2,352 |
Write-offs and disposals | (114) | (283) |
Depreciation | (8,935) | (7,092) |
Property, plant, and equipment, ending | 484,312 | 364,870 |
Land [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 94,228 | 94,228 |
Additions | ||
Transfers | ||
Write-offs and disposals | ||
Depreciation | ||
Property, plant, and equipment, ending | 94,228 | 94,228 |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 80,946 | 47,968 |
Additions | 603 | 1,037 |
Transfers | 692 | (85) |
Write-offs and disposals | ||
Depreciation | (479) | (296) |
Property, plant, and equipment, ending | 81,762 | 48,624 |
Office equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 130,187 | 120,865 |
Additions | 9,147 | 16,881 |
Transfers | 1,740 | 87 |
Write-offs and disposals | (109) | (243) |
Depreciation | (6,998) | (6,235) |
Property, plant, and equipment, ending | 133,967 | 131,355 |
Transport Equipments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 4,241 | 2,495 |
Additions | ||
Transfers | 2,059 | |
Write-offs and disposals | ||
Depreciation | (147) | (149) |
Property, plant, and equipment, ending | 4,094 | 4,405 |
Fixtures and fittings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 25,173 | 23,496 |
Additions | 382 | 3,027 |
Transfers | (223) | 291 |
Write-offs and disposals | (5) | (40) |
Depreciation | (532) | (391) |
Property, plant, and equipment, ending | 24,795 | 26,383 |
Other property, plant and equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant, and equipment, beginning | 139,784 | 49,887 |
Additions | 5,779 | 10,009 |
Transfers | 682 | |
Write-offs and disposals | ||
Depreciation | (779) | (21) |
Property, plant, and equipment, ending | R$ 145466 | R$ 59875 |
Borrowings and financing (Detai
Borrowings and financing (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||||
Current | R$ 2716361 | R$ 2616406 | ||
Noncurrent | 19,307,946 | 16,919,944 | ||
Total | 22,024,307 | 19,536,350 | R$ 18295923 | R$ 18958671 |
Local Currency [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 2,470,062 | 2,366,705 | ||
Noncurrent | 16,923,153 | 14,423,754 | ||
Total | 19,393,215 | 16,790,459 | ||
Local Currency [Member] | Twelth Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 56,517 | 45,450 | ||
Noncurrent | 22,385 | |||
Total | 56,517 | 67,835 | ||
Local Currency [Member] | Eighteenth Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 40,975 | 46,962 | ||
Noncurrent | ||||
Total | 40,975 | 46,962 | ||
Local Currency [Member] | Twenty Second Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 174,245 | 170,957 | ||
Noncurrent | 170,616 | |||
Total | 174,245 | 341,573 | ||
Local Currency [Member] | Twenty Third Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 490,841 | 490,810 | ||
Noncurrent | 374,303 | 374,279 | ||
Total | 865,144 | 865,089 | ||
Local Currency [Member] | Twenty Fourth Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 523,163 | 512,122 | ||
Total | 523,163 | 512,122 | ||
Local Currency [Member] | Twenty Sixth Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 1,330,768 | 1,302,042 | ||
Total | 1,330,768 | 1,302,042 | ||
Local Currency [Member] | Twenty Seventh Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 200,000 | 200,000 | ||
Noncurrent | 498,704 | 498,634 | ||
Total | 698,704 | 698,634 | ||
Local Currency [Member] | Twenty Eight Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 127,745 | 127,715 | ||
Noncurrent | 1,070,548 | 1,070,457 | ||
Total | 1,198,293 | 1,198,172 | ||
Local Currency [Member] | Twenty Nine Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 1,332,090 | 1,314,136 | ||
Total | 1,332,090 | 1,314,136 | ||
Local Currency [Member] | Thirty Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 124,988 | 125,000 | ||
Noncurrent | 748,275 | 873,231 | ||
Total | 873,263 | 998,231 | ||
Local Currency [Member] | Thirty One Issue Debentures [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 2,933,677 | |||
Total | 2,933,677 | |||
Local Currency [Member] | Brazilian Federal Savings Bank [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 110,235 | 108,210 | ||
Noncurrent | 1,489,676 | 1,508,275 | ||
Total | 1,599,911 | 1,616,485 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S P A C I I 9751 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 7,295 | 7,286 | ||
Noncurrent | 14,519 | 16,316 | ||
Total | 21,814 | 23,602 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S P A C I I 9752 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 4,943 | 4,936 | ||
Noncurrent | 9,885 | 11,107 | ||
Total | 14,828 | 16,043 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S O N D A L I M P A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 27,223 | 27,219 | ||
Noncurrent | 6,766 | |||
Total | 27,223 | 33,985 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S T I E T E I I I [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 200,947 | 200,693 | ||
Noncurrent | 602,767 | 652,175 | ||
Total | 803,714 | 852,868 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S T 2015 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 34,189 | 34,146 | ||
Noncurrent | 351,960 | 360,021 | ||
Total | 386,149 | 394,167 | ||
Local Currency [Member] | Brazilian Development Bank B N D E S 2014 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 6,646 | 6,638 | ||
Noncurrent | 8,471 | 10,107 | ||
Total | 15,117 | 16,745 | ||
Local Currency [Member] | Inter American Development Bank I D B 2202 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 181,349 | 181,349 | ||
Noncurrent | 1,893,180 | 1,983,615 | ||
Total | 2,074,529 | 2,164,964 | ||
Local Currency [Member] | Inter American Development Bank I D B I N V E S T [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 41,760 | 39,550 | ||
Noncurrent | 794,125 | 814,840 | ||
Total | 835,885 | 854,390 | ||
Local Currency [Member] | Inter American Development Bank I D B I N V E S T 2022 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 14,100 | 14,100 | ||
Noncurrent | 438,305 | 438,241 | ||
Total | 452,405 | 452,341 | ||
Local Currency [Member] | Inter American Development Bank I D B I N V E S T 2023 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 14,100 | 14,100 | ||
Noncurrent | 447,808 | 447,791 | ||
Total | 461,908 | 461,891 | ||
Local Currency [Member] | International Finance Corporation I F C 2022 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 22,800 | 22,800 | ||
Noncurrent | 714,139 | 713,910 | ||
Total | 736,939 | 736,710 | ||
Local Currency [Member] | International Finance Corporation I F C 2023 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 987,006 | 986,651 | ||
Total | 987,006 | 986,651 | ||
Local Currency [Member] | Leases Concession Agreements Program Contracts And Contract Assets [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 106,362 | 49,884 | ||
Noncurrent | 206,075 | 259,326 | ||
Total | 312,437 | 309,210 | ||
Local Currency [Member] | Leases Others [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 100,102 | 68,499 | ||
Noncurrent | 151,548 | 73,801 | ||
Total | 251,650 | 142,300 | ||
Local Currency [Member] | Others [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 3,006 | 3,003 | ||
Noncurrent | 2,161 | 2,910 | ||
Total | 5,167 | 5,913 | ||
Local Currency [Member] | Interest And Charges [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 379,694 | 377,398 | ||
Noncurrent | ||||
Total | 379,694 | 377,398 | ||
Foreign Currency [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 246,299 | 249,701 | ||
Noncurrent | 2,384,793 | 2,496,190 | ||
Total | 2,631,092 | 2,745,891 | ||
Foreign Currency [Member] | Interest And Charges [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 22,933 | 23,677 | ||
Noncurrent | ||||
Total | 22,933 | 23,677 | ||
Foreign Currency [Member] | Inter American Development Bank I D B 1212 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 51,351 | 49,759 | ||
Noncurrent | 25,676 | 49,759 | ||
Total | 77,027 | 99,518 | ||
Foreign Currency [Member] | Inter American Development Bank I D B 4623 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | ||||
Noncurrent | 736,321 | 712,449 | ||
Total | 736,321 | 712,449 | ||
Foreign Currency [Member] | International Bank Of Reconstruction And Development I B R Ds 7662e 8906 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 30,375 | 29,433 | ||
Noncurrent | 476,883 | 477,554 | ||
Total | 507,258 | 506,987 | ||
Foreign Currency [Member] | J I C A 15 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 38,042 | 39,437 | ||
Noncurrent | 171,188 | 197,180 | ||
Total | 209,230 | 236,617 | ||
Foreign Currency [Member] | J I C A 18 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 34,204 | 35,457 | ||
Noncurrent | 153,803 | 177,168 | ||
Total | 188,007 | 212,625 | ||
Foreign Currency [Member] | J I C A 17 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 9,530 | 9,879 | ||
Noncurrent | 104,054 | 107,880 | ||
Total | 113,584 | 117,759 | ||
Foreign Currency [Member] | J I C A 19 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current | 59,864 | 62,059 | ||
Noncurrent | 716,868 | 774,200 | ||
Total | R$ 776732 | R$ 836259 |
Borrowings and financing (Det_2
Borrowings and financing (Details 1) | 3 Months Ended |
Mar. 31, 2024 | |
Twelth Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2025 |
Annual interest rate | TR + 9.5% |
Seventeenth Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2023 |
Annual interest rate | CDI + 0.75% (series 1), 4.5% (series 2), and 4.75% (series 3) |
Inflation adjustment | IPCA (series 2 and 3) |
Eighteenth Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2024 |
Annual interest rate | TJLP + 1.92 % (series 1 and 3) and 8.25% (series 2) |
Inflation adjustment | IPCA (series 2) |
Twenty Second Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2025 |
Annual interest rate | CDI + 0.58% (series 1) and CDI+ 0.90% (series 2) and 6.0% (series 3) |
Inflation adjustment | IPCA (series 3) |
Twenty Third Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2027 |
Annual interest rate | CDI + 0.49% (series 1) and CDI+ 0.63% (series 2) |
Twenty Fourth Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2029 |
Annual interest rate | 3.20% (series 1) and 3.37% (series 2) |
Inflation adjustment | IPCA (series 1 and 2) |
Twenty Sixth Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2030 |
Annual interest rate | 4.65% (series 1) and 4.95% (series 2) |
Inflation adjustment | IPCA (series 1 and 2) |
Twenty Seventh Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2027 |
Annual interest rate | CDI + 1.60% (series 1) and CDI+ 1.80% (series 2) and 2.25% (series 3) |
Twenty Eight Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2028 |
Annual interest rate | CDI + 1.20% (series 1) and CDI+ 1.44% (series 2) and 1.60% (series 3) |
Twenty Nine Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2036 |
Annual interest rate | CDI + 1.29% (series 1), 5.3058% (series 2), and 5.4478% (series 3) |
Inflation adjustment | IPCA (series 2 and 3) |
Thirtiet Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2029 |
Annual interest rate | CDI + 1.30% (series 1) and CDI+ 1.58% (series 2) |
Thirtiet One Issue Debentures [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2034 |
Annual interest rate | CDI +0.49 (series 1) and CDI+1.10% (series 2) and CDI+1.31% (series 3) |
Brazilian Federal Savings Bank [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2024/2042 |
Annual interest rate | 5% to 9.5% |
Inflation adjustment | TR |
Brazilian Development Bank B N D E S P A C I I 9751 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2027 |
Annual interest rate | TJLP + 1.72% |
Brazilian Development Bank B N D E S P A C I I 9752 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2027 |
Annual interest rate | TJLP + 1.72% |
Brazilian Development Bank B N D E S O N D A L I M P A [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2025 |
Annual interest rate | TJLP + 1.92% |
Brazilian Development Bank B N D E S T I E T E I I I [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2028 |
Annual interest rate | TJLP + 1.66% |
Brazilian Development Bank B N D E S 2015 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2035 |
Annual interest rate | TJLP + 2.18% |
Brazilian Development Bank B N D E S 2014 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2026 |
Annual interest rate | TJLP + 1.76% |
Inter American Development Bank I D B 2202 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2035 |
Annual interest rate | CDI + 0.86% |
Inter American Development Bank I D B I N V E S T [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2034 |
Annual interest rate | CDI+ 1.90% and CDI 2.70% |
Inter American Development Bank I D B I N V E S T 2022 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2036 |
Annual interest rate | CDI + 2.50% |
Inter American Development Bank I D B I N V E S T 2023 [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2036 |
Annual interest rate | CDI + 0.50% |
International Finance Corporation I F C [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2032 |
Annual interest rate | CDI + 2.00% |
Leases Concession Agreements Program Contracts And Contract Assets [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturity | 2035 |
Annual interest rate | 7.73% to 10.12% |
Inflation adjustment | IPC |
Other Leases [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturity | 2042 |
Annual interest rate | 9.74% to 15.24% |
Others [Member] | Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Own funds |
Maturity | 2025 |
Annual interest rate | 3% (FEHIDRO); TJLP + 1.5% (FINEP) |
Inter American Development Bank I D B 1212 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2025 |
Annual interest rate | SOFR +5.13% |
Inflation adjustment | US$ |
Inter American Development Bank I D B 4623 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2044 |
Annual interest rate | SOFR + 6.55055% |
Inflation adjustment | US$ |
International Bank For Reconstruction And Development [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2034 |
Annual interest rate | SOFR + 6.06% and 7.16% |
Inflation adjustment | US$ |
J I C A 15 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2029 |
Annual interest rate | 1.8% and 2.5% |
Inflation adjustment | Yen |
J I C A 18 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2029 |
Annual interest rate | 1.8% and 2.5% |
Inflation adjustment | Yen |
J I C A 17 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2035 |
Annual interest rate | 1.2% and 0.01% |
Inflation adjustment | Yen |
J I C A 19 [Member] | Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Guarantees | Government |
Maturity | 2037 |
Annual interest rate | 1.7% and 0.01% |
Inflation adjustment | Yen |
Borrowings and financing (Det_3
Borrowings and financing (Details 2) R$ in Thousands | Mar. 31, 2024 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
2024 | R$ 1955845 |
2025 | 2,467,225 |
2026 | 2,259,552 |
2027 | 2,386,434 |
2028 | 1,703,412 |
2029 | 2,291,298 |
2030 to 2044 | 8,960,541 |
Borrowings payment net | 22,024,307 |
Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 1,819,655 |
2025 | 2,220,658 |
2026 | 2,047,519 |
2027 | 2,174,401 |
2028 | 1,491,379 |
2029 | 2,068,228 |
2030 to 2044 | 7,571,375 |
Borrowings payment net | 19,393,215 |
Local Currency [Member] | Debentures [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 905,061 |
2025 | 1,328,730 |
2026 | 1,217,890 |
2027 | 1,387,314 |
2028 | 665,375 |
2029 | 1,304,027 |
2030 to 2044 | 3,218,442 |
Borrowings payment net | 10,026,839 |
Local Currency [Member] | Brazilian Federal Savings Bank [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 82,048 |
2025 | 115,356 |
2026 | 122,556 |
2027 | 130,195 |
2028 | 138,177 |
2029 | 143,481 |
2030 to 2044 | 868,098 |
Borrowings payment net | 1,599,911 |
Local Currency [Member] | B N D E S [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 210,955 |
2025 | 260,803 |
2026 | 250,860 |
2027 | 238,124 |
2028 | 84,351 |
2029 | 34,189 |
2030 to 2044 | 189,563 |
Borrowings payment net | 1,268,845 |
Local Currency [Member] | B I Ds [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 139,754 |
2025 | 260,899 |
2026 | 330,209 |
2027 | 315,069 |
2028 | 420,959 |
2029 | 385,919 |
2030 to 2044 | 1,971,918 |
Borrowings payment net | 3,824,727 |
Local Currency [Member] | I F Cs [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 22,800 |
2025 | 44,200 |
2026 | 61,800 |
2027 | 80,800 |
2028 | 123,600 |
2029 | 181,600 |
2030 to 2044 | 1,209,145 |
Borrowings payment net | 1,723,945 |
Local Currency [Member] | Leases Concession Agreements Program Contracts And Contract Assets [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 151,818 |
2025 | 133,170 |
2026 | 64,062 |
2027 | 22,899 |
2028 | 58,917 |
2029 | 19,012 |
2030 to 2044 | 114,209 |
Borrowings payment net | 564,087 |
Local Currency [Member] | Other Borrowings [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 2,254 |
2025 | 2,771 |
2026 | 142 |
2027 | |
2028 | |
2029 | |
2030 to 2044 | |
Borrowings payment net | 5,167 |
Local Currency [Member] | Borrowings Interest And Charges [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 304,965 |
2025 | 74,729 |
2026 | |
2027 | |
2028 | |
2029 | |
2030 to 2044 | |
Borrowings payment net | 379,694 |
Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 136,190 |
2025 | 246,567 |
2026 | 212,033 |
2027 | 212,033 |
2028 | 212,033 |
2029 | 223,070 |
2030 to 2044 | 1,389,166 |
Borrowings payment net | 2,631,092 |
Foreign Currency [Member] | Borrowings Interest And Charges [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 19,741 |
2025 | 3,192 |
2026 | |
2027 | |
2028 | |
2029 | |
2030 to 2044 | |
Borrowings payment net | 22,933 |
Foreign Currency [Member] | B I D [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 25,676 |
2025 | 71,361 |
2026 | 40,019 |
2027 | 40,019 |
2028 | 40,019 |
2029 | 40,019 |
2030 to 2044 | 556,235 |
Borrowings payment net | 813,348 |
Foreign Currency [Member] | B I R D [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 15,188 |
2025 | 30,375 |
2026 | 30,375 |
2027 | 30,375 |
2028 | 30,375 |
2029 | 41,525 |
2030 to 2044 | 329,045 |
Borrowings payment net | 507,258 |
Foreign Currency [Member] | J I C A [Member] | |
IfrsStatementLineItems [Line Items] | |
2024 | 75,585 |
2025 | 141,639 |
2026 | 141,639 |
2027 | 141,639 |
2028 | 141,639 |
2029 | 141,526 |
2030 to 2044 | 503,886 |
Borrowings payment net | R$ 1287553 |
Borrowings and financing (Det_4
Borrowings and financing (Details 3) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | R$ 19536350 | R$ 18958671 |
Addition (lease) | 130,666 | 320 |
Funding | 2,948,335 | 123,715 |
Borrowing costs | (8,640) | (2,104) |
Inflation adjustment and exchange rate changes | 47,701 | (13,316) |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | 11,918 | 8,165 |
Interest paid | (473,596) | (543,850) |
Amortization | (660,026) | (716,239) |
Accrued interest | 344,775 | 316,805 |
Provision for interest and fees - Capitalized | 142,477 | 159,637 |
Expenses with borrowing costs | 4,347 | 4,119 |
Borrowings and financing, ending | 22,024,307 | 18,295,923 |
Local Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 16,790,459 | 16,182,913 |
Addition (lease) | 130,666 | 320 |
Funding | 2,948,335 | 54,481 |
Borrowing costs | (7,319) | (516) |
Inflation adjustment and exchange rate changes | 54,036 | 70,509 |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | 11,918 | 8,165 |
Interest paid | (443,981) | (517,258) |
Amortization | (553,139) | (595,141) |
Accrued interest | 316,055 | 295,756 |
Provision for interest and fees - Capitalized | 142,326 | 159,071 |
Expenses with borrowing costs | 3,859 | 3,621 |
Borrowings and financing, ending | 19,393,215 | 15,661,921 |
Local Currency [Member] | Debentures [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 7,534,818 | 8,166,366 |
Addition (lease) | ||
Funding | 2,940,478 | |
Borrowing costs | (7,319) | (516) |
Inflation adjustment and exchange rate changes | 51,281 | 60,883 |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | 10,953 | 5,463 |
Interest paid | (166,538) | (206,330) |
Amortization | (316,082) | (363,123) |
Accrued interest | 151,082 | 162,197 |
Provision for interest and fees - Capitalized | 36,657 | 46,336 |
Expenses with borrowing costs | 2,731 | 2,859 |
Borrowings and financing, ending | 10,238,061 | 7,874,135 |
Local Currency [Member] | Brazilian Federal Savings Banks [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 1,621,014 | 1,526,185 |
Addition (lease) | ||
Funding | 7,857 | 50,852 |
Borrowing costs | ||
Inflation adjustment and exchange rate changes | 1,653 | 6,250 |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | 412 | 1,718 |
Interest paid | (31,269) | (29,853) |
Amortization | (26,495) | (27,891) |
Accrued interest | 25,167 | 23,539 |
Provision for interest and fees - Capitalized | 6,056 | 6,393 |
Expenses with borrowing costs | ||
Borrowings and financing, ending | 1,604,395 | 1,557,193 |
Local Currency [Member] | B N D E S [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 1,341,472 | 1,380,993 |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | 1,096 | 3,354 |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | 553 | 984 |
Interest paid | (24,734) | (25,753) |
Amortization | (70,274) | (61,940) |
Accrued interest | 16,743 | 19,891 |
Provision for interest and fees - Capitalized | 8,191 | 5,670 |
Expenses with borrowing costs | 59 | 65 |
Borrowings and financing, ending | 1,273,106 | 1,323,264 |
Local Currency [Member] | I D B 2202 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 2,252,742 | 2,450,550 |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (132,871) | (165,514) |
Amortization | (90,674) | (90,674) |
Accrued interest | 34,753 | 26,253 |
Provision for interest and fees - Capitalized | 27,317 | 58,942 |
Expenses with borrowing costs | 239 | 239 |
Borrowings and financing, ending | 2,091,506 | 2,279,796 |
Local Currency [Member] | I D B I N V E S T 2020 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 900,367 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (61,148) | |
Amortization | (18,670) | |
Accrued interest | ||
Provision for interest and fees - Capitalized | 28,095 | |
Expenses with borrowing costs | 165 | |
Borrowings and financing, ending | 848,809 | |
Local Currency [Member] | I F C 2022 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 757,297 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | 8,217 | |
Provision for interest and fees - Capitalized | 15,647 | |
Expenses with borrowing costs | 229 | |
Borrowings and financing, ending | 781,390 | |
Local Currency [Member] | I F C 2023 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 1,006,642 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | 10,690 | |
Provision for interest and fees - Capitalized | 20,362 | |
Expenses with borrowing costs | 355 | |
Borrowings and financing, ending | 1,038,049 | |
Local Currency [Member] | I D B I N V E S T 2022 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 454,543 | 469,327 |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | 14,842 | 18,405 |
Provision for interest and fees - Capitalized | ||
Expenses with borrowing costs | 64 | 64 |
Borrowings and financing, ending | 469,449 | 487,796 |
Local Currency [Member] | I D B I N V E S T 2023 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 464,131 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | 15,038 | |
Provision for interest and fees - Capitalized | ||
Expenses with borrowing costs | 17 | |
Borrowings and financing, ending | 479,186 | |
Local Currency [Member] | Leases Concession Agreements Program Contracts And Contract Assets [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 309,210 | 357,844 |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (27,329) | (13,603) |
Amortization | (10,873) | |
Accrued interest | 30,556 | 13,603 |
Provision for interest and fees - Capitalized | ||
Expenses with borrowing costs | ||
Borrowings and financing, ending | 312,437 | 346,971 |
Local Currency [Member] | Leases Others [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 142,300 | 101,374 |
Addition (lease) | 130,666 | 320 |
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (4,523) | |
Amortization | (30,193) | (20,389) |
Accrued interest | 8,877 | 9,047 |
Provision for interest and fees - Capitalized | ||
Expenses with borrowing costs | ||
Borrowings and financing, ending | 251,650 | 85,829 |
Local Currency [Member] | Other Borrowings [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 5,923 | 12,130 |
Addition (lease) | ||
Funding | 3,629 | |
Borrowing costs | ||
Inflation adjustment and exchange rate changes | 6 | 22 |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (92) | (161) |
Amortization | (751) | (1,581) |
Accrued interest | 90 | 160 |
Provision for interest and fees - Capitalized | 1 | 2 |
Expenses with borrowing costs | ||
Borrowings and financing, ending | 5,177 | 14,201 |
Local Currency [Member] | I D B I N V E S T [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 943,619 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (71,521) | |
Amortization | (18,670) | |
Accrued interest | 22,661 | |
Provision for interest and fees - Capitalized | 12,244 | |
Expenses with borrowing costs | 166 | |
Borrowings and financing, ending | 888,499 | |
Local Currency [Member] | I F C [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 774,525 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | ||
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | ||
Provision for interest and fees - Capitalized | 29,484 | |
Expenses with borrowing costs | 228 | |
Borrowings and financing, ending | 804,237 | |
Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 2,745,891 | 2,775,758 |
Addition (lease) | ||
Funding | 69,234 | |
Borrowing costs | (1,321) | (1,588) |
Inflation adjustment and exchange rate changes | (6,335) | (83,825) |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (29,615) | (26,592) |
Amortization | (106,887) | (121,098) |
Accrued interest | 28,720 | 21,049 |
Provision for interest and fees - Capitalized | 151 | 566 |
Expenses with borrowing costs | 488 | 498 |
Borrowings and financing, ending | 2,631,092 | 2,634,002 |
Foreign Currency [Member] | I D Bs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 819,455 | 532,693 |
Addition (lease) | ||
Funding | 50,342 | |
Borrowing costs | ||
Inflation adjustment and exchange rate changes | 26,441 | (15,365) |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (2,457) | (2,474) |
Amortization | (25,359) | (26,343) |
Accrued interest | 13,639 | 5,062 |
Provision for interest and fees - Capitalized | ||
Expenses with borrowing costs | 298 | 237 |
Borrowings and financing, ending | 832,017 | 544,152 |
Foreign Currency [Member] | I B R D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 515,015 | 399,762 |
Addition (lease) | ||
Funding | 18,892 | |
Borrowing costs | (1,321) | (1,588) |
Inflation adjustment and exchange rate changes | 16,589 | (10,585) |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (16,507) | (10,061) |
Amortization | (15,133) | (16,014) |
Accrued interest | 10,076 | 8,691 |
Provision for interest and fees - Capitalized | 3 | 56 |
Expenses with borrowing costs | 139 | 106 |
Borrowings and financing, ending | 508,861 | 389,259 |
Foreign Currency [Member] | J I C A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 1,411,421 | 1,803,109 |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | (49,365) | (56,819) |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | (10,651) | (14,057) |
Amortization | (66,395) | (78,741) |
Accrued interest | 5,005 | 6,635 |
Provision for interest and fees - Capitalized | 148 | 289 |
Expenses with borrowing costs | 51 | 51 |
Borrowings and financing, ending | R$ 1290214 | 1,660,467 |
Foreign Currency [Member] | I D B 1983 A B [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, beginning | 40,194 | |
Addition (lease) | ||
Funding | ||
Borrowing costs | ||
Inflation adjustment and exchange rate changes | (1,056) | |
Inflation adjustment / exchange variation and incorporated interest - Capitalized | ||
Interest paid | ||
Amortization | ||
Accrued interest | 661 | |
Provision for interest and fees - Capitalized | 221 | |
Expenses with borrowing costs | 104 | |
Borrowings and financing, ending | R$ 40124 |
Borrowings and financing (Det_5
Borrowings and financing (Details 4) R$ in Thousands | Mar. 05, 2024 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Issuance of unsecured debenture | R$ 2940478 |
Series 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Issuance of unsecured debenture | R$ 507000 |
Unsecured debenture rate | 0.49% |
Maturity period | 2029 years |
Series 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Issuance of unsecured debenture | R$ 1734467 |
Unsecured debenture rate | 1.10% |
Maturity period | 2031 years |
Series 3 [Member] | |
IfrsStatementLineItems [Line Items] | |
Issuance of unsecured debenture | R$ 699011 |
Unsecured debenture rate | 1.31% |
Maturity period | 2034 years |
Borrowings and financing (Det_6
Borrowings and financing (Details 5) | 3 Months Ended |
Mar. 31, 2024 | |
Adjusted E B I T D A Adjusted Financial Expenses [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Equal to or higher than 2.80 |
E B I T D A Financial Expenses Paid [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Equal to or higher than 2.35 |
Adjusted Net Debt Adjusted E B I T D A [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Equal to or lower than 3.80 |
Net Debt Adjusted E B I T D A [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Equal to or lower than 3.50 |
Other Onerous Debt Adjusted E B I T D A [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Equal to or lower than 1.30 |
Adjusted Current Ratio [Member] | |
IfrsStatementLineItems [Line Items] | |
Covenants | Higher than 1.00 |
Borrowings and financing (Det_7
Borrowings and financing (Details 6) R$ in Thousands | Mar. 31, 2024 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | R$ 2734 |
Brazilian Federal Savings Bank [Member] | |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | 926 |
Brazilian Developments Bank B N D E S [Member] | |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | 30 |
Inter American Development Bank I D B [Member] | |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | 739 |
International Bank For Reconstruction And Developmenst [Member] | |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | 1,032 |
Other Borrowings And Financing [Member] | |
IfrsStatementLineItems [Line Items] | |
Borrowings and financing - credit limits | R$ 7 |
Borrowings and financing (Det_8
Borrowings and financing (Details Narrative) R$ in Billions | Mar. 31, 2024 Number | Mar. 05, 2024 BRL (R$) | Dec. 31, 2023 Number |
Events After Reporting Period [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Issuance of unsecured debenture | R$ | R$ 2940.5 | ||
Currency U S D [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exchange rate | 4.9962 | 4.8413 | |
Currency J P Y [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exchange rate | 0.03301 | 0.03422 |
Taxes and contributions (Detail
Taxes and contributions (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Current tax assets | R$ 328173 | R$ 494647 |
Income Tax And Socials Contribution [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax assets | 272,364 | 462,642 |
Withheld Income Tax [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax assets | 53,587 | 29,955 |
Other Federal Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax assets | R$ 2222 | R$ 2050 |
Taxes and contributions (Deta_2
Taxes and contributions (Details 1) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | R$ 619028 | R$ 511972 |
Income Tax And Socials Contribution [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | 389,712 | 205,964 |
C O F I N S And Pasep [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | 137,048 | 141,703 |
Social Securitys Contribution [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | 42,136 | 44,556 |
I R R F Withholding Income Tax On Financials Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | 5,512 | 64,770 |
Other Tax Payables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current tax liabilities | R$ 44620 | R$ 54979 |
Deferred taxes and contributi_3
Deferred taxes and contributions (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | R$ 1423140 | R$ 1411788 | R$ 1117998 | R$ 1119259 |
Total deferred tax liabilities | (1,307,855) | (1,313,712) | (1,309,521) | (1,308,537) |
Deferred tax assets (liabilities), net | 115,285 | 98,076 | (191,523) | (189,278) |
Tax Provision [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | 678,996 | 666,131 | ||
Pension Obligations G 1 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | 132,543 | 135,231 | 136,832 | 141,606 |
Donations [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | 44,594 | 45,140 | 45,800 | 46,088 |
Allowance For Doubtful Accounts [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | 190,726 | 182,519 | 192,670 | 199,363 |
Deferred Taxes Other [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax assets | 376,281 | 382,767 | 169,577 | 171,798 |
Temporary differences [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | (325,461) | (329,060) | (350,319) | (353,817) |
Capitalization Borrowing Costs [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | (466,374) | (465,510) | (465,454) | (457,669) |
Profit On Supply Government Entities [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | (347,379) | (348,514) | (345,260) | (346,650) |
Actuarial Gain Loss G 1 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | (121,425) | (121,425) | (93,561) | (93,561) |
Construction Margin [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | (39,893) | (40,579) | (42,637) | (43,323) |
Borrowing Costs [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred tax liabilities | R$ 7323 | R$ 8624 | R$ 12290 | R$ 13517 |
Deferred taxes and contributi_4
Deferred taxes and contributions (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | R$ 1411788 | R$ 1119259 |
Deferred tax asset, changes | 11,352 | (1,261) |
Deferred income tax assets, ending | 1,423,140 | 1,117,998 |
Deferred income tax liabilities, beginning | (1,313,712) | (1,308,537) |
Deferred tax liabilities, changes | 5,857 | (984) |
Deferred income tax liabilities, ending | (1,307,855) | (1,309,521) |
Deferred tax assets (liabilities) net, beginning | 98,076 | (189,278) |
Deferred tax assets, net, changes | 17,209 | (2,245) |
Deferred tax assets (liabilities) net, ending | 115,285 | (191,523) |
Tax Provisions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | 666,131 | 560,404 |
Deferred tax asset, changes | 12,865 | 12,715 |
Deferred income tax assets, ending | 678,996 | 573,119 |
Pension Obligations G 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | 135,231 | 141,606 |
Deferred tax asset, changes | (2,688) | (4,774) |
Deferred income tax assets, ending | 132,543 | 136,832 |
Donations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | 45,140 | 46,088 |
Deferred tax asset, changes | (546) | (288) |
Deferred income tax assets, ending | 44,594 | 45,800 |
Allowance For Doubtful Accounts [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | 182,519 | 199,363 |
Deferred tax asset, changes | 8,207 | (6,693) |
Deferred income tax assets, ending | 190,726 | 192,670 |
Deferred Taxes Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax assets, beginning | 382,767 | 171,798 |
Deferred tax asset, changes | (6,486) | (2,221) |
Deferred income tax assets, ending | 376,281 | 169,577 |
Temporary differences [member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (329,060) | (353,817) |
Deferred tax liabilities, changes | 3,599 | 3,498 |
Deferred income tax liabilities, ending | (325,461) | (350,319) |
Capitalization Borrowing Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (465,510) | (457,669) |
Deferred tax liabilities, changes | (864) | (7,785) |
Deferred income tax liabilities, ending | (466,374) | (465,454) |
Profit On Supply Government Entities [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (348,514) | (346,650) |
Deferred tax liabilities, changes | 1,135 | 1,390 |
Deferred income tax liabilities, ending | (347,379) | (345,260) |
Actuarial Gain Loss G 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (121,425) | (93,561) |
Deferred tax liabilities, changes | ||
Deferred income tax liabilities, ending | (121,425) | (93,561) |
Construction Margin [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (40,579) | (43,323) |
Deferred tax liabilities, changes | 686 | 686 |
Deferred income tax liabilities, ending | (39,893) | (42,637) |
Borrowing Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred income tax liabilities, beginning | (8,624) | (13,517) |
Deferred tax liabilities, changes | 1,301 | 1,227 |
Deferred income tax liabilities, ending | R$ 7323 | R$ 12290 |
Deferred taxes and contributi_5
Deferred taxes and contributions (Details 2) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Notes and other explanatory information [abstract] | ||
Profit before income taxes | R$ 1323860 | R$ 1132945 |
Statutory rate | 34% | 34% |
Estimated expense at statutory rate | R$ 450112 | R$ 385201 |
Provision Law 4,819/1958 – G0 (i) | (6,555) | (10,772) |
Donations | (1,093) | (1,065) |
Agreement with AAPS | (55,212) | |
Other differences | 12,407 | 11,305 |
Income tax and social contribution | (500,565) | (385,733) |
Current income tax and social contribution | (517,774) | (383,488) |
Deferred income tax and social contribution | R$ 17209 | R$ 2245 |
Effective rate | 38% | 34% |
Provisions (Details)
Provisions (Details) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Provisions | R$ 1997049 | R$ 1959207 |
Escrow deposits | (133,848) | (132,775) |
Total | 1,863,201 | 1,826,432 |
Customer Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 169,058 | 175,255 |
Escrow deposits | (6,003) | (6,060) |
Total | 163,055 | 169,195 |
Supplier Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 338,580 | 334,273 |
Escrow deposits | (93,833) | (90,973) |
Total | 244,747 | 243,300 |
Other Civil Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 140,447 | 128,036 |
Escrow deposits | (1,301) | (1,229) |
Total | 139,146 | 126,807 |
Tax Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 114,215 | 101,770 |
Escrow deposits | (18,577) | (18,223) |
Total | 95,638 | 83,547 |
Labor Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 723,968 | 727,133 |
Escrow deposits | (14,077) | (16,235) |
Total | 709,891 | 710,898 |
Environmental Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 510,781 | 492,740 |
Escrow deposits | (57) | (55) |
Total | 510,724 | 492,685 |
Current Provision [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 1,085,976 | 1,064,367 |
Total | 1,085,976 | 1,064,367 |
Noncurrent Provision [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 911,073 | 894,840 |
Escrow deposits | (133,848) | (132,775) |
Total | R$ 777225 | R$ 762065 |
Provisions (Details 1)
Provisions (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | R$ 1826432 | R$ 1610784 |
Additional provisions | 65,756 | 52,673 |
Interest and inflation adjustment | 56,453 | 49,599 |
Use of the accrual | (45,277) | (31,333) |
Amounts not used (reversal) | (40,163) | (32,512) |
Provisions, ending | 1,863,201 | 1,649,211 |
Customer Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 175,255 | 151,023 |
Additional provisions | 965 | 1,918 |
Interest and inflation adjustment | 5,043 | 3,790 |
Use of the accrual | (12,189) | (21,540) |
Amounts not used (reversal) | (16) | (1,158) |
Provisions, ending | 169,058 | 134,033 |
Supplier Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 334,273 | 257,080 |
Additional provisions | 2,027 | 1,992 |
Interest and inflation adjustment | 8,957 | 5,552 |
Use of the accrual | (2,741) | (1,042) |
Amounts not used (reversal) | (3,936) | |
Provisions, ending | 338,580 | 263,582 |
Other Civil Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 128,036 | 99,462 |
Additional provisions | 23,512 | 5,701 |
Interest and inflation adjustment | 5,480 | 7,154 |
Use of the accrual | (15,564) | (3,478) |
Amounts not used (reversal) | (1,017) | (3,793) |
Provisions, ending | 140,447 | 105,046 |
Tax Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 101,770 | 79,532 |
Additional provisions | 11,967 | 11,039 |
Interest and inflation adjustment | 4,805 | 1,658 |
Use of the accrual | (101) | (7) |
Amounts not used (reversal) | (4,226) | (455) |
Provisions, ending | 114,215 | 91,767 |
Labor Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 727,133 | 654,277 |
Additional provisions | 18,517 | 9,894 |
Interest and inflation adjustment | 13,098 | 13,486 |
Use of the accrual | (16,498) | (5,799) |
Amounts not used (reversal) | (18,282) | (14,450) |
Provisions, ending | 723,968 | 657,408 |
Environmental Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 492,740 | 406,872 |
Additional provisions | 10,667 | 22,400 |
Interest and inflation adjustment | 21,650 | 18,655 |
Use of the accrual | ||
Amounts not used (reversal) | (14,276) | (14,117) |
Provisions, ending | 510,781 | 433,810 |
Subtotal Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | 1,959,207 | 1,648,246 |
Additional provisions | 67,655 | 52,944 |
Interest and inflation adjustment | 59,033 | 50,295 |
Use of the accrual | (47,093) | (31,866) |
Amounts not used (reversal) | (41,753) | (33,973) |
Provisions, ending | 1,997,049 | 1,685,646 |
Escrow Deposit [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions, beginning | (132,775) | (37,462) |
Additional provisions | (1,899) | (271) |
Interest and inflation adjustment | (2,580) | (696) |
Use of the accrual | 1,816 | 533 |
Amounts not used (reversal) | 1,590 | 1,461 |
Provisions, ending | R$ 133848 | R$ 36435 |
Provisions (Details 2)
Provisions (Details 2) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | R$ 10618203 | R$ 10142022 |
Customer Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | 161,784 | 158,584 |
Supplier Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | 1,005,785 | 968,752 |
Other Civil Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | 644,852 | 695,097 |
Tax Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | 1,156,487 | 1,067,350 |
Labor Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | 3,332,929 | 3,093,735 |
Environmental Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Significant contingent liabilities | R$ 4316366 | R$ 4158504 |
Provisions (Details Narrative)
Provisions (Details Narrative) - BRL (R$) R$ in Millions | Mar. 31, 2024 | May 24, 2023 |
Disclosure Provisions Abstract | ||
Guarantee insurance for escrow deposit renewed | R$ 199.7 | R$ 600.0 |
Labor liabilities and pension_3
Labor liabilities and pension plan obligations (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Labor Liabilities And Pension Plan Obligations | ||
Salaries and payroll charges | R$ 37337 | R$ 69885 |
Provision for vacation | 245,218 | 256,415 |
Provision for Christmas bonus | 21,325 | |
Healthcare plan (i) | 117,551 | 86,147 |
Provision for profit sharing (ii) | 122,353 | 97,514 |
Incentivized Dismissal Program - IDP (iii) | 192,626 | 290,202 |
Consent Decree (TAC) | 5,161 | 6,093 |
Knowledge Retention Program (KRP) | 1,016 | 1,184 |
Total | R$ 742587 | R$ 807440 |
Labor liabilities and pension_4
Labor liabilities and pension plan obligations (Details Narrative) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Current liabilities | R$ 870394 | R$ 853424 |
Noncurrent liabilities | 522,737 | R$ 406027 |
Other Obligations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
General expenses | 162,388 | |
General expenses paid | 10,237 | |
Current liabilities | 31,206 | |
Noncurrent liabilities | 120,945 | |
Labor Obligations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current liabilities | 192,626 | |
Noncurrent liabilities | 57,428 | |
Provision for employee compensation | R$ 250054 |
Pension plan obligations (Detai
Pension plan obligations (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Pension plan obligations, beginning | R$ 2142871 | R$ 2150191 |
Expenses recognized | (48,879) | (51,921) |
Payments during the period | 60,520 | 58,324 |
Pension plan obligations, ending | (2,131,230) | (2,143,788) |
G 1 Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Pension plan obligations, beginning | (44,249) | (148,116) |
Expenses recognized | (1,560) | 4,384 |
Payments during the period | 10,096 | 10,124 |
Pension plan obligations, ending | (35,713) | (133,608) |
G 0 Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Pension plan obligations, beginning | (2,098,622) | (2,002,075) |
Expenses recognized | (47,319) | (56,305) |
Payments during the period | 50,424 | 48,200 |
Pension plan obligations, ending | R$ 2095517 | R$ 2010180 |
Pension plan obligations (Det_2
Pension plan obligations (Details 1) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Subtotal | R$ 55818 | R$ 58608 |
Capitalized | (1,150) | (764) |
Reimbursement of additional retirement and pension benefits paid (G0) | (28,040) | (24,622) |
Other | 1,508 | 1,441 |
Pension plan obligations (Note 29) | 28,136 | 34,663 |
G 1 Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 1,560 | (4,384) |
G 0 Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 47,319 | 56,305 |
Sabesprev Mais Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | 6,750 | 6,603 |
VIVEST Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Subtotal | R$ 189 | R$ 84 |
Pension plan obligations (Det_3
Pension plan obligations (Details Narrative) - G 1 Plan [Member] | 3 Months Ended |
Mar. 31, 2024 | |
IfrsStatementLineItems [Line Items] | |
Description of defined benefit plan | 0.99% of the portion of the salary of participation up to 20 salaries; and |
Additional description of defined benefit plan | 8.39% of the surplus, if any, of the portion of the salary of participation over 20 salaries. |
Services payable (Details Narra
Services payable (Details Narrative) - BRL (R$) R$ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Notes and other explanatory information [abstract] | ||
Services payable | R$ 836294 | R$ 749226 |
Other shortterm provisions | R$ 838703 | R$ 750732 |
Equity (Details)
Equity (Details) - shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Number of shares | 683,509,869 | 683,509,869 |
Percentage of shares | 100% | 100% |
Sao Paulo State [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Number of shares | 343,506,664 | 343,506,664 |
Percentage of shares | 50.30% | 50.30% |
Other Shareholders In Brazil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Number of shares | 266,922,203 | 257,339,417 |
Percentage of shares | 39% | 37.60% |
Other Shareholders Abroads [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Number of shares | 73,081,002 | 82,663,788 |
Percentage of shares | 10.70% | 12.10% |
Equity (Details Narrative)
Equity (Details Narrative) - BRL (R$) R$ in Thousands | 3 Months Ended | ||
Jun. 26, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure Equity Abstract | |||
Paid-in capital value | R$ 15000000 | R$ 15000000 | |
Paid-in capital shares | 683,509,869 | 683,509,869 | |
Dividends paid, classified as operating activities | R$ 836839 | ||
Surplus minimum mandatory | R$ 147689 | ||
Additional proposed dividends | R$ 984528 |
Earnings per share (Details)
Earnings per share (Details) R$ / shares in Units, R$ in Thousands | 3 Months Ended | |||
Mar. 31, 2024 $ / shares | Mar. 31, 2024 BRL (R$) R$ / shares shares | Mar. 31, 2023 $ / shares | Mar. 31, 2023 BRL (R$) R$ / shares shares | |
Notes and other explanatory information [abstract] | ||||
Profit for the year | R$ | R$ 823295 | R$ 747212 | ||
Weighted average number of common shares issued | shares | 683,509,869 | 683,509,869 | ||
Basic earnings per share (reais per share) | (per share) | $ 1.20 | R$ 1.20451 | $ 1.09 | R$ 1.09320 |
Diluted earnings per share (reais per share) | (per share) | $ 1.20 | R$ 1.20451 | $ 1.09 | R$ 1.09320 |
Operating segment information_2
Operating segment information (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Gross operating revenue | R$ 6997877 | R$ 6088808 |
Gross sales deductions | (437,631) | (390,439) |
Net operating revenue | 6,560,246 | 5,698,369 |
Costs selling general and administrative expenses | (4,914,170) | (4,326,864) |
Income from operations before other operating expenses, net and equity accounting | 1,646,076 | 1,371,505 |
Other operating income/(expenses), net | 7,086 | 14,634 |
Equity accounting | 8,893 | 6,334 |
Financial result, net | (338,195) | (259,528) |
Income from operations before taxes | 1,323,860 | 1,132,945 |
Depreciation and amortization | (773,785) | (657,145) |
Sanitations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross operating revenue | 5,661,099 | 4,909,274 |
Gross sales deductions | (437,631) | (390,439) |
Net operating revenue | 5,223,468 | 4,518,835 |
Costs selling general and administrative expenses | (3,607,447) | (3,173,849) |
Income from operations before other operating expenses, net and equity accounting | 1,616,021 | 1,344,986 |
Depreciation and amortization | (773,785) | (657,145) |
Reconciliations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross operating revenue | 1,336,778 | 1,179,534 |
Gross sales deductions | ||
Net operating revenue | 1,336,778 | 1,179,534 |
Costs selling general and administrative expenses | (1,306,723) | (1,153,015) |
Income from operations before other operating expenses, net and equity accounting | R$ 30055 | R$ 26519 |
Operating revenue (Details)
Operating revenue (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Notes and other explanatory information [abstract] | ||
Revenue from sanitation services (i) | R$ 5661099 | R$ 4909274 |
Construction revenue | 1,336,778 | 1,179,534 |
Sales tax | (410,786) | (370,298) |
Regulation, Control and Oversight Fee (TRCF) | (26,845) | (20,141) |
Net revenue | R$ 6560246 | R$ 5698369 |
Operating costs and expenses (D
Operating costs and expenses (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Operating costs | R$ 3975427 | R$ 3653723 |
Selling expenses | (210,087) | (225,657) |
Bad debt expense, net of recoveries | 190,518 | 162,805 |
Administrative expenses | (538,138) | (284,679) |
Operating costs and expenses | (4,914,170) | (4,326,864) |
Salaries Payroll Charges And Benefits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (505,690) | (583,855) |
Selling expenses | (62,115) | (70,517) |
Administrative expenses | (112,499) | (55,142) |
Operating costs and expenses | (680,304) | (709,514) |
Pension Obligations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (5,810) | (1,656) |
Selling expenses | (840) | (185) |
Administrative expenses | (21,486) | (32,822) |
Operating costs and expenses | (28,136) | (34,663) |
Construction Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (1,306,723) | (1,153,015) |
Operating costs and expenses | (1,306,723) | (1,153,015) |
General Supplies [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (113,440) | (85,831) |
Selling expenses | (1,859) | (1,067) |
Administrative expenses | 24,510 | (601) |
Operating costs and expenses | (90,789) | (87,499) |
Treatment Supplies [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (141,370) | (164,899) |
Operating costs and expenses | (141,370) | (164,899) |
Outside Services [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (504,745) | (435,484) |
Selling expenses | (101,066) | (109,177) |
Administrative expenses | (77,011) | (80,267) |
Operating costs and expenses | (682,822) | (624,928) |
Electricity One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (393,822) | (395,026) |
Selling expenses | (210) | (191) |
Administrative expenses | (372) | (583) |
Operating costs and expenses | (394,404) | (395,800) |
General Expenses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (283,516) | (227,169) |
Selling expenses | (26,628) | (27,626) |
Administrative expenses | (294,810) | (60,011) |
Operating costs and expenses | (604,954) | (314,806) |
Depreciation And Amortization [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Operating costs | (720,311) | (606,788) |
Selling expenses | (17,369) | (16,894) |
Administrative expenses | (36,105) | (33,463) |
Operating costs and expenses | (773,785) | (657,145) |
Bad Debt Expense Net Of Recoveries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Bad debt expense, net of recoveries | (190,518) | (162,805) |
Operating costs and expenses | (190,518) | (162,805) |
Tax Expense [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Administrative expenses | (20,365) | (21,790) |
Operating costs and expenses | R$ 20365 | R$ 21790 |
Financial Income (Expenses) (De
Financial Income (Expenses) (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
IfrsStatementLineItems [Line Items] | ||
Financial expenses | R$ 592103 | R$ 562471 |
Financial income | 247,575 | 219,320 |
Financial income (expenses), net before exchange rate changes | (344,528) | (343,151) |
Exchange result, net | 6,333 | 83,623 |
Financial result, net | (338,195) | (259,528) |
Interet And Charges Local Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (276,622) | (273,106) |
Interet And Charges Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (28,720) | (21,049) |
Other Financial Expenses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (175,160) | (101,732) |
Inflation Adjustment On Borrowings And Financing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (54,036) | (70,509) |
Other Inflation Adjustments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (13,265) | (50,463) |
Interest Inflation Adjustments On Provisions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial expenses | (44,300) | (45,612) |
Inflation Adjustment Gains [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial income | 55,881 | 60,314 |
Income On Financial Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial income | 110,375 | 103,217 |
Financial Interest Income [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial income | 92,932 | 66,560 |
C O F I N S And Pasep [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial income | (11,615) | (10,788) |
Other Financial Income [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial income | 2 | 17 |
Exchange Rate Changes Borrowing Financing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange result, net | 6,335 | 83,825 |
Exchange Rate Changes On Assets [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange result, net | 1 | (201) |
Other Exchange Rate Changes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange result, net | R$ 3 | R$ 1 |
Other operating income (expen_3
Other operating income (expenses), net (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Notes and other explanatory information [abstract] | ||
Other operating income, net | R$ 10291 | R$ 20352 |
Other operating expenses | (3,205) | (5,718) |
Other operating income (expenses), net | R$ 7086 | R$ 14634 |
Commitments (Details)
Commitments (Details) R$ in Thousands | Mar. 31, 2024 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Contractual obligations - expenses | R$ 9900843 |
Contractual obligations - investments | 8,113,598 |
Total | 18,014,441 |
Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual obligations - expenses | 1,854,851 |
Contractual obligations - investments | 4,174,937 |
Total | 6,029,788 |
Later than one year and not later than three years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual obligations - expenses | 2,319,376 |
Contractual obligations - investments | 2,719,760 |
Total | 5,039,136 |
Later Than Three Year And Not Later Than Five Years [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual obligations - expenses | 1,377,556 |
Contractual obligations - investments | 1,136,509 |
Total | 2,514,065 |
Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual obligations - expenses | 4,349,060 |
Contractual obligations - investments | 82,392 |
Total | R$ 4431452 |
Supplemental cash flow inform_3
Supplemental cash flow information (Details) - BRL (R$) R$ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Supplemental Cash Flow Information | ||
Total additions to contract assets (Note 13) | R$ 1270667 | R$ 1204867 |
Total additions to intangible assets (Note 14 (b)) | 133,759 | 322 |
Items not affecting cash (see breakdown below) | (833,016) | (634,857) |
Total additions to intangible and contract assets according to the statement of cash flows | 571,410 | 570,332 |
Investments and financing operations affecting intangible assets but not cash: | ||
Interest capitalized in the period (Note 13 (a)) | 154,395 | 167,802 |
Contractors payable | 453,671 | 240,833 |
Performance agreements | 64,229 | 199,383 |
Right of use | 130,666 | 320 |
Construction margin (Note 25) | 30,055 | 26,519 |
Total | R$ 833016 | R$ 634857 |
Events after the reporting pe_2
Events after the reporting period (Details Narrative) - BRL (R$) R$ in Thousands | Apr. 08, 2024 | Jun. 03, 2024 | Jun. 01, 2024 | Apr. 17, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||||||||
Tariffs adustments | 6.4469% | |||||||
Foreign currency of existing debts | R$ 534000 | |||||||
Net book value of Igarapava related assets | R$ 11400 | R$ 44459122 | R$ 44012858 | R$ 39744201 | R$ 39320871 | |||
Regulator amount | 57,200 | |||||||
Payments to receive warrants | 3,064,500 | |||||||
Payments to receive warrants historical value | 2,373,800 | |||||||
Payments to receive warrants net | 1,873,200 | |||||||
Sao Paulo [Member] | ||||||||
IfrsStatementLineItems [Line Items] | ||||||||
Payments to receive warrants | R$ 3064500 | |||||||
Sabesp Share Capital [Member] | ||||||||
IfrsStatementLineItems [Line Items] | ||||||||
Share capital percentage | 18% | |||||||
Investor Share Capital [Member] | ||||||||
IfrsStatementLineItems [Line Items] | ||||||||
Share capital percentage | 15% | |||||||
Conselho Diretor Do Programa Estadual [Member] | ||||||||
IfrsStatementLineItems [Line Items] | ||||||||
Share capital percentage | 10% |