Latest news with #T&D
Yahoo
12-05-2025
- Business
- Yahoo
CARIBBEAN UTILITIES COMPANY, LTD ANNOUNCES INCREASE IN DIVIDEND ON CLASS A ORDINARY SHARES
CARIBBEAN UTILITIES COMPANY, LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK EXCHANGE. GRAND CAYMAN, Cayman Islands, May 12, 2025 /CNW/ - Caribbean Utilities Company, Ltd. (TSX: CUP.U) ("CUC" or "the Company") announced today that the Board of Directors has declared an increase in the regular quarterly dividend from US$0.185 to US$0.19 per Class A Ordinary Share. This represents a 3% increase to US$0.76 per share on an annualized basis. The dividend will be payable June 16, 2025 to shareholders of record June 2, 2025. The principal activity of the Company is to generate, transmit and distribute electricity in its licence area of Grand Cayman, Cayman Islands pursuant to a 20-year Transmission & Distribution ("T&D") Licence and a 25-year non-exclusive Generation Licence (the "Generation Licence" and together with the T&D licence, the "Licences") granted by the Cayman Islands Government (the "Government", "CIG"). The T&D Licence, which expires in April 2028, contains provisions for an automatic 20-year renewal and the Company has reasonable expectation of renewal until April 2048. The Generation Licence expires in November 2039. Further information is available at Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as "expects", "anticipates", "plan", "believes", "estimates", "intends", "targets", "projects", "forecasts", "schedule", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". Forward-looking statements are based on underlying assumptions and management's beliefs, estimates and opinions, and are subject to certain risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, general economic, market and business conditions, regulatory developments and weather conditions. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. SOURCE Caribbean Utilities Company, Ltd. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-02-2025
- Business
- Yahoo
Kalpataru Projects International Ltd (BOM:522287) Q3 FY25 Earnings Call Highlights: Robust ...
Consolidated Revenue: INR5,732 crores, 17% Y-o-Y growth for Q3 FY25. Stand-alone Revenue Growth: 16% for Q3 FY25. T&D Business Growth: 42% Y-o-Y for Q3 FY25. B&F Business Growth: 26% Y-o-Y for Q3 FY25. Oil & Gas Business Growth: 123% Y-o-Y for Q3 FY25. Consolidated EBITDA Growth: 13% for Q3 FY25. Stand-alone EBITDA Growth: 17% for Q3 FY25. Consolidated EBITDA Margin: 8.4% for Q3 FY25. Stand-alone EBITDA Margin: 8.3% for Q3 FY25. Consolidated PBT Growth: 5% Y-o-Y to INR202 crores for Q3 FY25. Stand-alone PBT Growth: 12% Y-o-Y to INR218 crores for Q3 FY25. Consolidated Net Debt: Decreased by 27% Q-o-Q to INR2,694 crores. Stand-alone Net Debt: Decreased by 35% Q-o-Q to INR1,820 crores. Net Working Capital Days: Decreased by 6 days to 112 days at stand-alone level; 4 days to 94 days at consolidated level. Order Inflows: INR20,185 crores secured, with INR2,500 crores in L1 position. Order Backlog: Record high of INR61,429 crores as of December 31, 2024. LMG Sweden Revenue Growth: Doubled Y-o-Y for Q3 FY25. Fasttel Brazil Revenue Growth: 18% for Q3 FY25. Road BOOT Project Revenue: INR64.3 lakhs per day in Q3 FY25. Water Business Revenue Growth: From INR642 crores to INR3,500 crores over five years, CAGR of 52%. Warning! GuruFocus has detected 4 Warning Signs with BOM:522287. Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kalpataru Projects International Ltd (BOM:522287) reported a robust revenue growth of 17% year-over-year for Q3 FY25, with a consolidated turnover of INR5,732 crores. The company achieved a record high order backlog of INR61,429 crores as of December 31, 2024, providing good visibility for future execution and growth. Significant improvement in net debt, which declined by 27% quarter-over-quarter to INR2,694 crores at the consolidated level. Strong performance in the T&D business with a growth of 42%, and the oil & gas segment reported a remarkable year-over-year growth of 123%. Successful participation in a Qualified Institutional Placement (QIP) issue, attracting marquee domestic and international investors, indicating strong market confidence. The water business faced challenges due to delayed payments from clients, impacting revenue targets and resulting in a cautious outlook for the short term. Higher net interest costs were observed during the quarter, attributed to capital deployment in the water business and growth in revenue. The depreciation of the Brazilian real impacted USD-denominated loans, affecting profitability in the Fasttel Brazil subsidiary. The railway segment continues to face execution challenges, particularly with a large project in Bangladesh, leading to a cautious outlook for growth in this segment. The EBITDA margin for subsidiaries, excluding the parent company, showed a decline, with Fasttel Brazil reporting negative PBT due to currency devaluation. Q: How much of the INR100 billion order backlog in the water segment is under the Jal Jeevan Mission (JJM), and what is the outlook for this segment? A: Approximately 75% to 80% of the order backlog is under JJM. We have seen some traction in collections, with INR240 crores received in January and February. We expect further collections from March onwards, depending on budget allocations. While cautious in the short term, we remain confident about long-term prospects. Q: Why was there a higher net interest cost in Q3, and will it improve in Q4? A: The higher interest cost in Q3 was due to capital deployed in the water business and revenue growth. With the QIP proceeds and improved collections, we expect interest costs to decrease in Q4, targeting a middle 2% range. Q: What is the status of the T&D order inflow and the bid pipeline for the next year? A: Our T&D order inflow is around INR6,000 crores, with INR5,300 crores secured and INR1,750 crores as L1. We have bid for projects worth INR4,000 crores to INR5,000 crores, expected to be decided soon. The pipeline looks strong, with potential doubling in the next year due to renewable energy and system upgrades. Q: How is the execution and margin outlook for the Saudi oil and gas project? A: We are on track with the Saudi project, expecting to reach a 10% threshold for margin recognition in Q4. We anticipate delivering 40% of the project next year, with high single-digit EBITDA margins. Working capital is currently around 50 to 60 days. Q: What is the outlook for the B&F segment, and are there any signs of a slowdown in private CapEx? A: We have not observed a slowdown in B&F ordering. The segment remains attractive, driven by residential, commercial, data centers, and airports. We expect continued growth due to healthy cash flows and large-scale projects by developers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data
Trade Arabia
13-02-2025
- Business
- Trade Arabia
TAQA Group reports net income of $1.93bn for 2024
Abu Dhabi National Energy Company (TAQA) has posted a net profit of AED7.1 billion ($1.933 billion) for the year ending December 31, 2024, marking a 1.5% year-on-year increase when excluding one-off items. The company's total revenue surged 6.7% to AED55.2 billion ($15.03 billion). The revenue rise was driven by strong performance in its Transmission & Distribution (T&D) business and the consolidation of TAQA Water Solutions (formerly SWS Holding). EBITDA stood at AED21.4 billion, up 5.9% year-on-year, excluding the AED10.8 billion one-off cost related to its 5% stake acquisition in Adnoc Gas. When including this item, EBITDA saw a 31% decline. Meanwhile, capital expenditure rose 63.8% to AED9.2 billion ($2.5 billion), largely due to the ongoing development of the Mirfa 2 and Shuweihat 4 Reverse smosis desalination projects, along with phased investments in T&D and TAQA WS. Despite the impact of UAE corporate tax, which resulted in a AED1.1 billion deferred tax charge, TAQA's underlying financial strength remains solid, supported by its robust utilities operations, the company said. OTHE FINANCIAL HIGHLIGHTS • Free cash flow generation amounted to AED2.6 billion, down from AED13.9 billion in 2023, reflecting increased investments in Masdar, capital investment across Generation, T&D and Water Solutions and the acceleration of decommissioning activities within oil and gas. • Gross debt was AED64.1 billion, up from AED61.7 billion at the end of 2023, primarily due to the issuance of an aggregate AED6.4 billion in 7-year and 12-year dual-tranche corporate bonds, consolidation of AED1.5 billion in project debt from the acquisition of SWS Holding and AED1.4 billion for the construction of the M2 RO and S4 RO desalination projects, offset by the repayment of AED3.5 billion in matured corporate bonds, AED2.9 billion in scheduled loan repayments and AED0.5 billion of other minor movements. Operational Highlights • Transmission network availability for power and water reached 98.7%, marginally higher from 98.4% in 2023. • Generation global commercial availability marginally improved to 98.0% from 97.9% in the previous year. • Water Solutions asset availability stood at 95.3%, reflecting strong operational performance. • Oil & Gas production decreased 5.9% year-on-year to 101.4 mboe/d. This fall is mainly due to the natural decline in production and decommissioning activity, primarily as a result of the cessation of production of four UK assets as the Company transitions its focus towards safe and efficient decommissioning. Strategic Highlights • Distribution businesses Abu Dhabi Distribution Company (ADDC) and Al Ain Distribution Company (AADC) have been merged under single entity with a new brand, TAQA Distribution. The merger is expected to improve customer experience and strengthen internal capabilities by enhancing scale and unlocking further opportunities for operational excellence and growth. • TAQA launched a new brand identity for its group of companies. This move marks a milestone in the transformation and growth of the Company and underpins its strategy to grow through delivering integrated power and water services in the UAE and internationally. • TAQA continues to expand its portfolio (including Masdar) domestically and internationally: -- UAE: The Taweelah Reverse Osmosis (RO) Independent Water Plant achieved full commercial operation in Q1. With a capacity of 200 MIGD, Taweelah RO is one of the world's largest RO desalination plants. -- Saudi Arabia: This is a key international target market for TAQA and significant progress was made on a number of projects in the Kingdom in 2024, as below: * Financial close was achieved for Juranah Independent Strategic Water Reservoir Project, a strategic water infrastructure project aimed at addressing emergency municipal water demand across the Kingdom, specifically in the Makkah region during the Hajj season. The project is being developed by TAQA in conjunction with partners Vision Invest and GIC Consortium. * Financial close was achieved for Najim Cogeneration Company, a new industrial steam and electricity cogeneration plant that will supply up to 475 MW of electricity and approximately 452 tonnes per hour (tph) of steam to a petrochemical complex located in Jubail in the Eastern Province of the Kingdom. TAQA will own 51% of the plant, with JERA owning the remaining 49%. * Two 25-year Power Purchase Agreements (PPAs) were signed by a consortium of TAQA, JERA and Al Bawani, with Saudi Power Procurement Company (SPPC) to develop two new greenfield power projects, one each in Rumah and Al Nairyah, with a combined capacity of 3.6 GW. The two new plants will be developed as highly efficient combined cycle gas power plants, by respective special purpose entities owned by TAQA (49%), JERA (31%) and Al Bawani (20%) with operation and maintenance (O&M) of the plants to be undertaken through respective O&M special purpose entities having the same shareholding structure. -- North America: Masdar acquired a 50% stake in Terra-Gen Power Holdings II, significantly expanding its presence in the US renewables market. Terra-Gen's gross operating portfolio at the time of acquisition comprised 3.8 GW of wind, solar and battery storage projects, including 5.1 GWh of energy storage facilities across 30 renewable energy sites throughout the US. -- Europe: Masdar also completed three key acquisitions in Europe, expanding its footprint in the continent: * Masdar completed the acquisition of Saeta Yield from Brookfield Renewable. Saeta is an established renewables platform with an operating portfolio of 745 MW of predominantly wind assets (at the time of acquisition), and a 1.6 GW development pipeline in Spain and Portugal. * Masdar and Endesa S.A. finalised a partnership agreement to advance renewable energy initiatives in Europe. Under this agreement, Masdar has acquired a 49.99 percent stake in EGPE Solar, a subsidiary of Enel Group's Endesa. EGPE, at the time of acquisition, owned a 2 GW portfolio of operational photovoltaic (PV) assets in Spain. * Masdar also enhanced its renewable energy portfolio in Greece and the EU, through acquisition of Terna Energy, which had an operating capacity of 1.2 GW at the time of acquisition and targeting 6 GW of operational renewable capacity by 2029. • Adding water sector capabilities: 2024 witnessed the completion of 100% acquisition of SWS Holding by TAQA. Rebranded to TAQA Water Solutions, it is the sole entity responsible for wastewater collection and treatment as well as production of recycled water in the Emirate of Abu Dhabi. This acquisition expands TAQA's capabilities in managing water and complements its existing portfolio, while adding significant value to the Company's asset base (regulated asset value of around AED 17.5 billion, with a network of approximately 13,000 km of sewer pipelines and water treatment capacity of approximately 1.3 million cubic meters). • Oil & Gas: Key developments during 2024 in the Oil & Gas business include: -- The sale of TAQA's stake in the Atrush oil field in the Kurdish Region of Iraq. -- TAQA is also making significant progress in the UK, transitioning its focus towards safe and efficient decommissioning. Cessation of production at its North Cormorant, Cormorant Alpha, Eider and Tern platforms means that during 2024 the company has ended production in the Northern North Sea -- Onshore gas production in the Netherlands was ceased, 50 years after the start of production in the Dutch Alkmaar region. •Strong access to capital markets: - Fitch Ratings upgraded TAQA's rating to 'AA', up from 'AA-', demonstrating its strong balance sheet. - TAQA issued $1.75 billion (~AED 6.4 billion) in dual-tranche bonds (7-year and 12-year notes) in October. The $850 million (~AED 3.1 billion) 12-year notes represent TAQA's second green bond issuance, the net proceeds of which are being used to finance, refinance and invest in relevant eligible green projects, as outlined in the Company's Green Finance Framework. Mohamed Hassan Alsuwaidi, TAQA's Chairman, commented: '2024 was a pivotal year for TAQA as it further strengthened its position as a global leader in low-carbon power and water both in the UAE and abroad. TAQA's strong financial results for the year as well as the credit rating of AA by Fitch, which highlights the resilience of its balance sheet, are testimony to this. "Throughout 2024, TAQA continued its growth, marked by key milestones such as the successful closing of the TAQA Water Solutions acquisition as well as strategic investments in international power generation projects. "The robust performance across TAQA's businesses demonstrates its commitment to driving long-term value for its shareholders while positively contributing to the economic progress and environmental goals of the communities it serves.' Jasim Husain Thabet, Group CEO and Managing Director of TAQA, said: 'TAQA's strong financial performance in 2024 was driven by robust results across our businesses. The year was a milestone for TAQA, highlighted by the merger of Abu Dhabi Distribution Company and Al Ain Distribution Company under the new TAQA Distribution brand, alongside the rebranding of our other operating entities in the UAE. This streamlining of our operations strengthens our customer service offering across the Emirate of Abu Dhabi, setting the stage for future growth. "On the water side, we also expanded our capabilities in water treatment and reuse through the integration of TAQA Water Solutions, adding AED17.5 billion to our regulated asset value." He added: 'Internationally, we made notable progress, particularly in the Kingdom of Saudi Arabia where we reached financial close for two of our projects, the Juranah Strategic Water Reservoir in Makkah region and the Najim Cogeneration Plant in Jubail, and signed project agreements with our partners to develop two high-efficiency gas power plants, one each in Rumah and Nairyah, with a combined capacity of 3.6 GW, further strengthening our presence in the Kingdom. "Through Masdar, we took significant steps toward achieving our 2030 target of 100 GW of global renewable capacity, with several key acquisitions, including Terra-Gen in the US, Terna Energy and Saeta in Europe as well as a significant share in Endesa's renewables portfolio in Spain.
Associated Press
12-02-2025
- Entertainment
- Associated Press
Pennsylvania wildlife sanctuary offers unique Valentines activity for guests
Video A wildlife sanctuary in Snyder County, Pennsylvania, is offering a unique activity for those looking to move on from their exes during Valentine's week. Visitors to T&D's Cats of the World can take part in a popular fundraising event where they toss cookies inscribed with the names of their former partners to the wolves.
