Copasa announced parent earnings results for the fourth quarter and full year of 2013. For the quarter, the company posted net income of BRL 101 million a year ago, down 18.8% year-on-year. The result was influenced by a 29% jump in administrative expenses which was up BRL 26 million for the quarter, and a 6% rise in cost of services rendered which was up BRL 24 million. While EBITDA inched up 0.8% year-on-year to BRL 298 million, net operating revenue rose by 5% to BRL 780 million. Net revenue from water and sewage services was BRL 780.382 million compared to BRL 743.521 million a year ago. Earnings before financial result and taxes were BRL 184.498 million compared to BRL 196.069 million a year ago. Earnings before taxes on income were BRL 136.436 million compared to BRL 164.094 million a year ago. EPS was BRL 0.85 compared to BRL 1.05 a year ago. Adjusted EBITDA (excluding construction result) was BRL 294.050 million compared to BRL 288.333 million a year ago.

For full-year 2013, the company's net income fell 12.9% to BRL 420 million, while net revenue rose 8.6% to BRL 3.0 billion. EBITDA for the year increased 1.0% to BRL 1.16 billion. Net operating revenue from revenue and services was BRL 3,714.818 million compared to BRL 3,429.090 million a year ago. Earnings before financial result and taxes were BRL 724.927 million compared to BRL 761.698 million a year ago. Earnings before taxes on income were BRL 566.158 million compared to BRL 639.147 million a year ago. EPS was BRL 3.52 compared to BRL 4.04 a year ago. Adjusted profit was BRL 1,135.555 million compared to BRL 1,124.332 million a year ago. Net cash generated by operating activities was BRL 662.712 million compared to BRL 672.459 million a year ago. Purchase of intangible and fixed assets was BRL 911.759 million compared to BRL 706.033 million a year ago. Adjusted EBITDA (excluding construction result) was BRL 1,140.390 million compared to BRL 1,127.953 million a year ago.