Iguá Saneamento announces full-year 2018 results
Iguá Saneamento, one of the largest private water and sewage operators in Brazil and a portfolio company of IG4 Capital, announced full-year 2018 net revenues and EBITDA of R$581.5 million, and R$255.2 million, respectively, representing increases of 6.8% and 20.3% over the previous year’s figures. These results were achieved in the first full year since Iguá became an IG4 Capital portfolio company, further evidencing IG4 Capital’s ability to turn around companies that are undergoing financial, legal, regulatory or compliance difficulties.
Furthermore, the company continued its deleveraging process, reducing its net debt to EBITDA ratio to 3.6x, and moving closer to the benchmark of 3.0x which most industry experts consider to be ideal for the water and sewage sector. Additionally, and with the help of a R$400 million capital injection anchored by Alberta Investment Management Corporation (“AIMCo”), Iguá was able to resume investing in its operations in order to meet the commitments contractually established with its clients – the inauguration of the Cominese sewage treatment station in Paranaguá, Paraná and the ampliation of the Ribeirão do Lipa System in Cuiabá, Mato Grosso were amongst two of the main projects completed during the calendar year.