Key Players in the Sanitization Industry in Brazil¶

Key Players Table¶

Player name and short description	Detailed profile	Relevant context information	Estimates of volumes	Estimates of revenue
SABESP - Largest sanitation company in Brazil, providing water and sewage services in the state of São Paulo.	Founded in 1973, Sabesp is a mixed-capital company controlled by the state of São Paulo, listed on the B3. Operates in 375 municipalities. Currently undergoing a privatization process.	Undergoing a privatization process expected to attract significant investment in 2025. The liquidation of Sabesp's public offering was the largest in the global sanitation sector. The new concession contract unifies concessions with several municipalities.	Serves over 28 million people with water and approximately 25.5 million with sewage collection in its operational area. [Context]	R$ 21.7 billion (2024)
Aegea Saneamento - Leading private sanitation company in Brazil, operating through concessions and PPPs.	Established in 2007, Aegea is a major private player. Operates in a large number of municipalities across multiple states, focusing on sustainability and efficiency.	Has expanded significantly through winning bids in sanitation auctions and PPPs, including the privatization of Corsan and a PPP with Sanepar. Recognized as the best company in the "Sanitation and Environment" category by Exame for two consecutive years.	Operates in 766 municipalities in 15 states, serving over 33 million people. Attained 13.8 million "economias atendidas" in 2024.	R$ 16.2 billion (Proforma 2024)
Sanepar - State-controlled sanitation company in Paraná.	A mixed-capital company controlled by the Paraná state government, listed on the B3. Provides water and sewage services in municipalities in Paraná and one in Santa Catarina.	Recently entered into a PPP with Aegea and Acciona for sewage services. [Profile] Recognized as the principal sanitation company in Brazil by the Valor 1000 ranking in 2023.	Serves approximately 11 million people. Operates 168 water treatment plants and 261 sewage treatment plants.	R$ 6.848 billion (2024)
Copasa - State-owned sanitation company in Minas Gerais.	A state-owned company operating in Minas Gerais, listed on the B3 stock exchange. Provides water and sewage services.	Invested a record R$ 2.17 billion in 2024. Achieved over 99% water coverage in its area by the end of 2024. Recognized among the companies that grow most consistently by InfoMoney.	Operates in 638 municipalities in Minas Gerais. Global coverage index for collected and treated sewage reached 77.3% in 2024.	R$ 7.4 billion (2023)
Embasa - State-owned sanitation company in Bahia.	Empresa Baiana de Águas e Saneamento operates in the state of Bahia.	Invested nearly R$ 1 billion in 2023 and has a projected investment plan of R$ 7.2 billion for 2023-2026. Reported significant growth in net income and net revenue in 2023.	Operates in 368 municipalities. Serves approximately 10 million people with water and 4.5 million with sewage. Added 97 thousand water connections and 69 thousand sewage connections in 2023.	R$ 4.4 billion (Projected 2024)
BRK Ambiental - One of the largest private sanitation companies in Brazil.	A major private company in the sector, controlled by Brookfield Brasil. Operates through various Special Purpose Entities (SPEs) in the water and sewage segments.	Has 23 SPEs in water and sewage. Focused on improving credit metrics as assets mature.	Serves a population of 16 million inhabitants.	R$ 4.295 billion (2024)
Cedae - State-owned company in Rio de Janeiro, focused on raw water abstraction and treatment.	Companhia Estadual de Águas e Esgotos do Rio is a state-owned company in Rio de Janeiro. Following concessions, its primary role is now the production of raw water and bulk water treatment.	Reported significant increase in net income in 2023 and H1 2024, primarily driven by financial gains and reduced operational costs. The concessions of distribution and collection services impacted its business model and revenue streams.	Focus on serving concessionaires with bulk water. Involved in projects like the Novo Guandu, expected to benefit 3 million people. Served by bulk water abstraction and treatment from Cedae.	Estimated R$ 3.4 billion (2024, based on H1 2024 revenue of R$ 1.7 billion)
Águas do Brasil - Private company operating sanitation concessions.	A private company operating concessions for water and sewage services since 1998.	Has a portfolio of concession contracts. Won the concession for Teresópolis in August 2023 and started operations in January 2024.	No specific total population served figure found in the provided snippets.	R$ 2.8 billion (Proforma 2023)
Compesa - State-owned sanitation company in Pernambuco.	Companhia Pernambucana de Saneamento is the state-owned sanitation company of Pernambuco. Provides water supply and sewage treatment services in the state.	Reported a significant increase in net income in 2024. Faced challenges in 2024 including material price increases and lack of tariff adjustments, despite operational revenue growth. Focusing on improving operational efficiency.	Served 6.4 million people with water supply and 1.8 million with sewage collection and treatment in 2024.	R$ 2.566 billion (2024 operational revenue)
Iguá Saneamento - Private sanitation company with operations in several Brazilian states.	A private company with operations in six Brazilian states, managing concessions and PPPs for water and sewage services. Has a capital structure with participation from investment funds.	Won the concession of Sergipe and Lot 3 of the Sanepar PPP auction in September 2024. Highlights the positive impact of the New Legal Framework on attracting private investment. [Profile] Focused on reducing water losses and inadimplence.	Serves approximately 6 million people in 121 municipalities. [Profile] Achieved a reduction in the non-billed water index in 2023 and 2024.	R$ 2.024 billion (2024)

References¶

ABREMA. SANEAMENTO DEVERÁ INVESTIR R$ 24 BI AQUÉM DO NECESSÁRIO EM 2024. https://abrema.org.br/saneamento-devera-investir-r-24-bi-aquem-do-necessario-em-2024/
Aegea Saneamento. AEGEA | Receita cresce 71% em 2023 e atuação ultrapassa 500 municípios. https://aegea.com.br/noticias_aegea/aegea-receita-cresce-71-em-2023-e-atuacao-ultrapassa-500-municipios/
Aegea Saneamento. Aegea Saneamento registra EBITDA proforma de R$ 8 bilhões em 2024, um crescimento de 26% em relação ao ano anterior. https://aegea.com.br/noticias_aegea/aegea-saneamento-registra-ebitda-proforma-de-r-8-bilhoes-em-2024-um-crescimento-de-26-em-relacao-ao-ano-anterior/
Aegea Saneamento. Resultados 2024 - Equipav. https://aegea.com.br/wp-content/uploads/2025/03/Equipav_Release_4T24_2024_Final.pdf
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Copasa. Copasa supera recorde e, pela primeira vez, alcança R$ 2,17 bilhões em investimentos. https://www.copasa.com.br/wps/portal/internet/sala-de-imprensa/noticias-copasa/copasa-supera-recorde-e-pela-primeira-vez-alcanca-r-2-17-bilhoes-em-investimentos
Copasa. Copasa é uma das empresas que mais crescem no país, segundo InfoMoney. https://www.copasa.com.br/wps/portal/internet/sala-de-imprensa/noticias-copasa/copasa-e-uma-das-empresas-que-mais-crescem-no-pais-segundo-infomoney
Copasa (CSMG3): lucro líquido de R$ 271,9 milhões no 4T24, queda de 23,5% - ADVFN. https://br.advfn.com/jornal/2025/03/copasa-csmg3-lucro-liquido-de-r-2719-milhoes-no-4t24-queda-de-235
Copasa 4T24: crescimento da receita desacelera enquanto custos avançam no último trimestre do ano; negativo - BB InvesTalk. https://bbial.com.br/analises/copasa-4t24-crescimento-da-receita-desacelera-enquanto-custos-avancam-no-ultimo-trimestre-do-ano-negativo/
Embasa. Embasa investe quase R$ 1 bilhão em 2023 e prepara maior programa de saneamento na Bahia | SECOM. https://www.secom.ba.gov.br/2024/03/136476/Embasa-investe-quase-R$-1-bilhao-em-2023-e-prepara-maior-programa-de-saneamento-na-Bahia.html
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Equatorial Saneamento. Lucro líquido da Equatorial cresce 51,8% no 4° trimestre de 2024 - SAFRAS & Mercado. https://sfrmercado.com.br/lucro-liquido-da-equatorial-cresce-518-no-4-trimestre-de-2024/
Gazeta do Povo. Investidores comemoram crescimento na participação do setor de saneamento. https://www.gazetadopovo.com.br/economia/investidores-comemoram-crescimento-na-participacao-do-setor-de-saneamento/
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Iguá Saneamento. Receita líquida ajustada da Iguá soma quase R$ 1,5 bilhão | Saneamento Ambiental. https://saneamentoambiental.com.br/2024/11/15/receita-liquida-ajustada-da-igua-soma-quase-r-15-bilhao/
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Jornal de Brasília. Mercado de saneamento privado é dominado por 4 empresas; veja quem é dona do quê. https://www.jornaldebrasilia.com.br/economia/mercado-de-saneamento-privado-e-dominado-por-4-empresas-veja-quem-e-dona-do-que/
MM 2024: As maiores empresas do Brasil - Exame. https://exame.com/negocios/maiores-empresas-do-brasil/
Nexo Jornal. Brasil perde quase 40% da água tratada, mostra estudo. https://www.nexojornal.com.br/expresso/2023/10/19/Brasil-perde-quase-40-da-%C3%A1gua-tratada-mostra-estudo
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Portal Gov.br. Estudo do Governo Federal mostra que Brasil tem 753,2 mil km de redes de distribuição de água e 365 mil km de redes de esgoto. https://www.gov.br/mdr/pt-br/noticias-e-publicacoes/noticias/2022/dezembro/estudo-do-governo-federal-mostra-que-brasil-tem-753-2-mil-km-de-redes-de-distribuicao-de-agua-e-365-mil-km-de-redes-de-esgoto
Portal Gov.br. Marco Legal do Saneamento. https://www.gov.br/mdr/pt-br/assuntos/saneamento/marco-legal-do-saneamento
Poder360. Brasil precisará investir R$ 509 bi para universalizar saneamento. https://www.poder360.com.br/economia/brasil-precisara-investir-r-509-bi-para-universalizar-saneamento/
Relatório da Administração e Demonstrações Contábeis 2024 - Sanepar RI. https://ri.sanepar.com.br/sanepar-apresenta-seus-resultados-anuais-e-do-4o-trimestre-de-2024/
Sabesp. Lucro líquido contábil da Sabesp soma R$ 1,435 bi no 4º tri, alta de 21% em um ano. https://www.sabesp.com.br/press/imprensa/-/detalhe-noticia/lucro-liquido-contabil-da-sabesp-soma-r-1-435-bi-no-4-tri-alta-de-21-em-um-ano/37456
Sabesp. Sabesp (SBSP3): Lucro avança 21% e atinge R$ 1,43 bilhão no 4T24 - Money Times. https://www.sabesp.com.br/press/imprensa/-/detalhe-noticia/sabesp-sbsp3-lucro-avanca-21-e-atinge-r-1-43-bilhao-no-4t24-money-times/37457
Sanepar. Lucro líquido da Sanepar aumentou 30,6% em 2023 - Senge-PR. https://senge-pr.org.br/blog/lucro-liquido-da-sanepar-aumentou-306-em-2023/
Sanepar. Trabalhadores da Sanepar aguardam pelo PPR de 2025 após ano de bons resultados em 2024 | Sindael. https://sindael.com.br/trabalhadores-da-sanepar-aguardam-pelo-ppr-de-2025-apos-ano-de-bons-resultados-em-2024/
Sanepar. Sanepar investiu mais de R$ 1,9 bilhão nos serviços de água e esgoto em 2024. https://www.aen.pr.gov.br/Noticia/Sanepar-investiu-mais-de-R-19-bilhao-nos-servicos-de-agua-e-esgoto-em-2024