COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Business Summary

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) operates as a large-scale environmental service provider, generating approximately 75% of its revenue from regulated water supply and 23% from sewage collection and treatment. Following its landmark privatization in mid-2024, the company has aggressively diversified into high-margin segments, including industrial water reuse, international technical consultancy through Sabesp Internacional, and carbon credit monetization from methane capture at treatment plants. SABESP maintains a dominant market position in Brazil, operating under a consolidated concession agreement (URAE 1 - Southeast) that secures service rights for 371 municipalities until 2060. It competes primarily with private sanitation giants such as Aegea Saneamento, BRK Ambiental, and Iguá Saneamento, distinguishing itself through its massive operational scale and its newly acquired agility to bid for diverse concessions across the Brazilian territory. SABESP is currently led by Chief Executive Officer Carlos Augusto Leone Piani, a seasoned executive with a pedigree in private equity and infrastructure, formerly serving as Chairman of Equatorial Group and CEO of Kraft Heinz Canada. The leadership team includes Chief Financial Officer Daniel Szlak, who brings extensive financial experience from roles at Combio and Kraft Heinz, and Denis Maia, who serves as the Chief Customer & Technology Officer. The Board of Directors is chaired by Karla Bertocco Trindade, an expert in sanitation regulation and former CEO of the company. Following its transition from state control, the company’s capital structure is anchored by Equatorial Energia, which holds a 15% reference stake, and the State of São Paulo, which retains an 18% minority interest and a strategic golden share. Other notable institutional investors include global asset managers such as Vanguard, BlackRock, and Impax Asset Management.