Macau’s water utility SAAM – commercially known as Macao Water – reported Tuesday an after-tax profit of 77.5 million patacas for last year, a year-on-year increase of about 20 percent.
According to a statement by the water supply concessionaire, 50.6 million patacas was profit generated by its major business of supplying tap water, a year-on-year decrease of 3.3 percent.
The utility’s total investment stood at 233 million patacas last year, up 256 percent from the 65.4 million patacas investment in 2016.
“Macao Water is committed to the continuous improvement of the [city’s] overall water supply facilities, enhancement of service quality and the protection of water supply safety and stability under its core philosophy – ‘Preparing for a better future’,” the statement said.
Water consumption last year rose 2 percent to 88.44 million cubic metres, “which was in line with expectations,” said the statement, which pointed out that water consumption in Cotai recorded a year-on-year increase of 6 percent.
The statement also said that the company expects its total investment this year to rise to 400 million patacas, mainly for projects such as the construction of the Seac Pai Van water treatment plant in Coloane and the enhancement of precautionary measures in all water treatment plants against typhoons and flooding, as well as the promotion of “smart water” technologies.
The utility was hit hard by last year’s deadly Super Typhoon Hato, which severely interrupted the city’s water supply for several days.
The statement underlined the company’s smart meters pilot project in Cotai, which involves the launch of a real-time meter reading technology in the area where the city’s largest casino-hotel resorts are located.
“To align the company’s belief in ‘innovating while evolving’, Macao Water strives to improve and make breakthroughs while always ensuring quality water supply,” the statement promised.
