Company achieves corporate governance standards in the stock market and it is ready for the challenges of regulatory framework
SÃO PAULO, May 9, 2022 /PRNewswire/ -- Sabesp celebrates on Monday (09/05) its 20th listing anniversary on the New York Stock Exchange (NYSE) with participation in the "Closing Bell" ceremony, as well as presentation and meetings with investors. The only Brazilian sanitation company listed on NYSE, after two decades of participation in the main international stock market, Company's investments reached one third of all the contribution made in sanitation in Brazil, which allowed significant improvements to Brazilian people, also attracting private capital and opening up new perspectives for the whole sector. In this period, the company reached corporate governance standards that credit Sabesp to the challenges set by the new sanitation legal framework.
Responsible for the water supply, collection, and treatment of sewage in 375 municipalities in the State of São Paulo, the largest and most wealthy state in Brazil, Sabesp is the third largest sanitation company in the world in terms of revenues and one of the largest in population served, attending 28 million customers. As a publicly traded mixed capital company, since 2002 Sabesp has been listed on Novo Mercado Brasil (B3) and on NYSE as ADR level III, the highest in corporate governance in both markets. Currently, SP State Government holds 50.3% Company's capital, whereas 34.4% is on B3 and 15.3% on NYSE.
Sabesp's entry into capital market was fundamental to increase investments in the expansion and improvement of sanitation services in the municipalities served. Water coverage tends to universalization, sewage collection covering 92% (2021) and sewage treatment, 79%. Contributions went from a level of R$ 1 billion per year to R$ 5 billion per year. For the period 2022-2026, Sabesp plans to invest R $ 23.8 billion in the expansion of water and sanitary sewage supply.
In these last 20 years, the Company's shares have had an appreciation of 413% on NYSE, surpassing the performance of the S&P 500 index, which rose 329%. Market value increased from R$3.2 billion to R$32.6 billion and Sabesp's shares rose 896% on B3, compared to 700% on the Ibovespa. Dividend paid to shareholders totaled R$ 8.1 billion.
At a time when the adherence to the principles of environmental, social and governance (ESG) is gaining ground in the business environment, Sabesp also expands actions and commitments in this area, its "core business". Projects such as the Novo Rio Pinheiros program, which is bringing sanitation to almost 560,000 homes and giving life to the river, stand out on the environmental and social front.
Contact: Paula Pereira, Telephone: 55 11 98758-8271, E-mail: paula.pereira@fsbcomunicacao.com.br
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SOURCE Sabesp
