Companhia De Saneamento De Minas Gerais reported parent company earnings results for the third quarter of 2014. The company posted net operating revenue from services was BRL 1,167,806,000 compared to BRL 970,026,000 a year ago. Earnings before financial result and taxes was BRL 182,618,000 compared to BRL 194,184,000 a year ago. Earnings before taxes on income were BRL 134,126,000 compared to BRL 163,904,000 a year ago. Net income for the period was BRL 98,063,000 or BRL 0.8218 per share compared to BRL 125,835,000 or BRL 1.0545 per share a year ago. Net cash generated by operating activities BRL 230,539,000 compared to BRL 205,980,000 a year ago. Purchase of property, plant and equipment and intangible was BRL 226,006,000 compared to BRL 257,836,000 a year ago. Adjusted net income was BRL 314,222,000 compared to BRL 292,461,000 a year ago. EBITDA was BRL 305,089,000 compared to BRL 307,088,000 a year ago. EBITDA margin was 25.28% compared to 30.12% a year ago. Adjusted EBITDA margin was 36.28% compared to 36.91% a year ago. Adjusted EBITDA (excluding the construction result) was BRL 301,112,000 compared to BRL 302,671,000 a year ago. Interest on equity distributed (IOE) in third quarter of 2014 was BRL 32.7 million or BRL 0.2745 per share, totaling BRL 100.9 million compared to BRL 0.8455 per share in 2014. COPASA MG's gross debt totaled BRL 0.3 billion on September 30, 2014, while net debt reached BRL 3.1 billion. At the end of the quarter, the adjusted net debt/EBITDA ratio stood at 2.7x.

Investments and Investment Program (CAPEX) planned for 2014. Investment in water, sewage and other (corporate development, general use goods and others) is planned to be BRL 983.0 million.

Net write-offs of intangible and fixed assets for the quarter was BRL 20,278,000 compared to BRL 9,848,000 a year ago.