Crius Energy Trust Reports Third Consecutive Quarter of Strong Financial Results2 hours ago by CNW Group
FY 2014 Adjusted EBITDA up 20% over 2013
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
Crius Energy Trust (TSX: KWH.UN) (the "Trust"), today announced fourth quarter and year-end financial results for the three- and twelve-month periods ended December 31, 2014. All figures are in U.S. dollars unless otherwise noted.
2014 and Q4 2014 Highlights:
-- Fourth quarter financial performance represents third
consecutive quarter of year-over-year improvement
o $134.3 million in revenue, up 4.5% from $128.6 million in Q4 2013
o 28.4% gross margin, up from 19.3% in Q4 2013
o $14.4 million in adjusted EBITDA, an increase of 136.1% from $6.1
million in Q4 2013
o Payout ratio of 56.0%
-- Crius Energy delivers strong financial performance despite
challenging market conditions
o $600.5 million in revenue, up 18.4% from $507.1 million in 2013
o 21.5% gross margin, up from 20.4% in 2013
o $38.5 million in Adjusted EBITDA, an increase of 19.6% from $32.2
million in 2013
o Payout ratio of 98.8%
-- High-margin solar energy business continues rapid growth
trajectory
o Contributed $6.1 million in revenue and $3.4 million in Adjusted
EBITDA on total generation capacity sold of 10.7 MW in 2014
o Gross system sales grew over 280% from approximately 350 systems in
the first quarter of 2014 to nearly 1,000 in Q4 2014
o Expanded into the commercial solar segment in the fourth quarter of
2014
-- Innovative product offerings accelerate portfolio
diversification strategy
o Fixed-rate customer base grew to 52% of total portfolio, an
increase of 200% over 2013
o Commercial customer base grew to 28% of total portfolio, an
increase of 17% over 2013
o Solar energy sales grew by 500% over 2013
