Companhia de Saneamento do Paraná - SANEPAR (SAPR4) Q4 2025 earnings summary

Executive summary

• Net profit reached BRL 2.08 billion in 2025, up 34.6% year-over-year, with a margin of 28.9%.

• Net revenue grew 5.2% to BRL 7.206 billion, driven by tariff adjustments and expansion in water and sewage connections.

• EBITDA reached BRL 3.0 billion, margin at 41.1%, impacted by higher operational costs, including voluntary severance and legal provisions.

• Achieved 82.4% sewage coverage and 100% urban water coverage, serving nearly 12 million people.

• Recognized for ESG leadership, receiving the 2025 Transparency Award and improved CDP scores.

Financial highlights

• Net revenue: BRL 7.206 billion in 2025 (+5.2% YoY); net profit: BRL 2.08 billion (+34.6% YoY).

• EBITDA: BRL 3.0 billion; margin: 41.1% (down 1.8 p.p. YoY).

• CapEx reached BRL 2.653 billion in 2025, up 38.8% from 2024, focused on sewage expansion.

• Operational cash generation: BRL 7.1 billion (+154.4% YoY).

• Dividend/JCP proposed: BRL 585.3 million (29.6% payout ratio).

Outlook and guidance

• Strategic plan targets BRL 13.1 billion in investments through 2030, prioritizing universalization of sewage services.

• New tariff structure for 2025–2028, including a Social Tariff with a 50% discount for eligible customers.

• Focus on sustainability, innovation, and operational efficiency, including AI for water loss detection.

• Universalization of sewage targeted before 2033, with strong planning and ongoing major projects.

• Expecting stabilization of electricity costs and benefits from voluntary redundancy program to reflect in 2026 and beyond.