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    João Pimentel • Citigroup

    João Pimentel's questions to Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (SBS) leadership

    João Pimentel's questions to Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (SBS) leadership • Q1 2025

    Question

    João Pimentel inquired about the progress in eliminating remaining tariff discounts for large clients and asked how SABESP's potential EBITDA margin compares to the 75% margins seen in more mature private concessions.

    Answer

    CEO Carlos Piani stated that the company is confident it can cancel roughly 80% of the remaining BRL 300 million in discounted contracts. Regarding margins, he noted that while reaching higher levels is achievable over time, the immediate focus is balancing efficiency with the aggressive CapEx plan for universalization by 2029.

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    João Pimentel's questions to Companhia Paranaense de Energia (ELP) leadership

    João Pimentel's questions to Companhia Paranaense de Energia (ELP) leadership • Q1 2025

    Question

    João Pimentel asked for Copel's perspective on the postponed reserve auction, including a potential new timeline and any expected changes to hydro plant products. He also inquired about Copel's participation strategy, potential CapEx for its projects, and its approach to anticipating project delivery.

    Answer

    Executive Daniel Slaviero called the auction's cancellation a correct decision and stated he expects it to be rescheduled for late 2024. He confirmed Copel is prepared to participate with two advanced hydro projects but remained cautious about disclosing specific CapEx details. He noted that any potential for early project delivery would be carefully evaluated as part of their competitive strategy.

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