Companhia de Saneamento do Paraná - SANEPAR (SAPR4) Q1 2026 earnings summary

Executive summary

• Net operating revenue rose 7.8% year-over-year to BRL 1,946.4 million, driven by tariff adjustments and increased water and sewage volumes.

• Net profit dropped 70.8% year-over-year to BRL 352.7 million, mainly due to non-recurring tax recovery effects in 1Q25.

• EBITDA reached BRL 843.5 million (margin 43.3%), down 24.4% year-over-year, reflecting the absence of extraordinary items.

• Service expansion continued, with over 12,000 new water and 15,000 new sewage connections in the quarter.

• Operating costs and expenses (excluding court-ordered payments) fell 10.4% year-over-year.

Financial highlights

• Net operating revenue: BRL 1,946.4 million (+7.8% YoY).

• Net profit: BRL 352.7 million (-70.8% YoY).

• EBITDA: BRL 843.5 million (-24.4% YoY); EBITDA margin: 43.3%.

• CAPEX: BRL 588.1 million (+20.8% YoY).

• Default rate improved to 2.5% from 2.8% year-over-year.

Outlook and guidance

• Tariff readjustment of 2.4993% approved for 2026, effective May 17, 2026.

• Universalization targets for water (100%) and sewage (82.6%) are on track to meet legal requirements before 2033.

• Social tariff implemented, offering a 50% discount for eligible customers.

• Reservoir levels remain robust, supporting operational continuity.

• Investment plan remains robust, with continued focus on expansion and service quality.