SAO PAULO, May 15 /PRNewswire-FirstCall/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service providers in the world based on the number of customers, announces today its results for the 1Q09.

In 1Q09, net operating revenue totaled R$ 1.7 billion, a 7.4% increase compared to same period of 2008. Costs and expenses, stood at R$ 1.2 billion, 30.1% higher than in the previous year. EBITDA dropped 19.5%, from R$ 774.4 billion in 1Q08 to R$ 623.6 billion in 1Q09.

Earnings before financial expenses (EBIT) decreased 26.0%, from R$ 624.3 million in 1Q08 to R$ 462.0 million in 1Q09.

This quarter results was particularly affected by an accounting register of R$ 146.6 million, corresponding to payment of termination costs related to retired employees who will be laid off, between 2009 and 2011, in compliance to the Conduct Adjustment Term (TAC). Disregarding this fact, net income would have totaled R$ 358.3 million, and EBITDA R$ 778.2 million, with a 47.1% margin.

The complete version of the release is available at the Company's website: www.sabesp.com.br

Conference Calls - May 19, 2009

    English:      3:00 PM (EST)
                  Dial in access: (1 973) 935-8893
                  Conference ID: 10037888
    Portuguese:   1:00 PM (EST)
                  Dial in access: (55 11) 2188-0188
                  Conference ID: Sabesp

Live webcast available on www.sabesp.com.br

SOURCE SABESP