Compania de Saneamento de Minas Gerais - COPASA MG (BSP:CSMG3)
R$ 25.84 -0.28 (-1.07%) Market Cap: 9.80 Bil Enterprise Value: 15.16 Bil PE Ratio: 4.90 PB Ratio: 1.18 GF Score: 86/100
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Q1 2025 Companhia de Saneamento de Minas Gerais COPASA MG Earnings Call (English, Portuguese) Transcript

May 15, 2025 / 02:00 PM GMT
Release Date Price: R$22.31 (+4.99%)

Key Points

Positve
  • Compania de Saneamento de Minas Gerais - COPASA MG (BSP:CSMG3) achieved the highest credit rating from Fitch, supported by strong fundamentals in demand, profitability, and cash generation.
  • The company reported its best-ever EBITDA margin of 43%, amounting to 8,114 million, indicating strong operational performance.
  • Robust operating cash generation of over 560 million was recorded, aligning with the company's aggressive investment plans.
  • The company successfully incorporated over 8,150 million into its regulatory asset base, setting the stage for future tariff reviews.
  • COPASA MG maintained a low leverage ratio below 2 times net debt over EBITDA, providing significant capacity for future investments and dividend payouts.
Negative
  • The CEO was absent from the earnings call, which might have impacted the communication of strategic insights.
  • Despite improvements, the company's loss reduction rate remains high at 37.5% compared to best practices.
  • There is an anticipated increase in leverage due to major planned investments, which could impact financial flexibility.
  • The company faces challenges in universalizing sewerage services, with current coverage at 78.2%.
  • The process for the next tariff review is still under public consultation, creating uncertainty around future regulatory changes.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CSMG3.SA - Companhia de Saneamento de Minas Gerais Copasa MG
Q1 2025 Companhia de Saneamento de Minas Gerais COPASA MG Earnings Call (English, Portuguese)
May 15, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome everyone to COASA MG's audio conference relative to Q1 2025 results. This conference has been recorded and a replay facility will be able to be accessed at the company's website at RI.compaza.com.br.

The respective slide deck is also available for download at the same URL. All participants will be connected in listen-only mode during the company's remarks. After that, we'll start a Q&A session when further instructions will be provided.

The presentation is also being recorded and simultaneously translated. Translation is available by clicking on the interpretation button at the bottom
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