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Caribbean Utilities Company, Ltd. (T:CUP.U)

Business Focus: Electric Utilities

Sector:  Utilities Industry:  Electric Utilities
 
See Regulatory Filings on SEDAR
Company Contact
Address: 457 North Sound Road,
P.O. Box 38
GRAND CAYMAN KY1-1101
Tel: N/A
Website: https://www.cuc-cayman.com
IR: See website
Key People
J. F. Richard Hew
President, Chief Executive Officer, Director
Letitia T. Lawrence
Chief Financial Officer, Vice President - Finance, Secretary, Corporate Services
David C. Watler
Vice President - Operations
Sacha N. Tibbetts
Vice President - Customer Service and Technology
   
Business Overview
Caribbean Utilities Company, Ltd. is engaged in generating, transmitting and distributing electricity in its license area of Grand Cayman, Cayman Islands. The Company uses diesel generation to produce electricity for Grand Cayman. Its power system consists of 20 generating units, including 17 diesel engines, two gas turbines and one steam turbine with a combined capacity of approximately 160 megawatts (MW). In addition, it has four mobile units, each with a capacity of approximately 1.5 MW. Its system consists of eight transformer substations, approximately 387 miles of overhead high-voltage and over 50 miles of underground high-voltage transmission and distribution (T&D) lines, and approximately 10 miles of high-voltage submarine cable in Grand Cayman. Its generating plant, transformer substations, office building, hurricane center, warehouse, fuel tanks and garage are all located on approximately 28.6 acres of land owned by the Company and located on North Sound Road, Grand Cayman.
Financial Overview
For the three months ended 31 March 2021, CaribbeanUtilities Company Ltd revenues decreased 16% to $38.8M. Netincome applicable to common stockholders decreased 13% to$3.2M. Revenues reflect Fuel Factor decrease of 31% to$16.4M, Renewables remaining flat at $1.1M. Net income alsoreflects General and administration increase of 50% to$2.6M (expense), Depreciation increase of 7% to $10.4M(expense).
Employees: 229 as of Dec 31, 2020
Reporting Currency: U.S. Dollars
Enterprise value: $824.55M as of Jun 30, 2021
Annual revenue (TTM): $170.21M as of Jun 30, 2021
EBITDA (TTM): $66.94M as of Jun 30, 2021
Net annual income (TTM): $24.60M as of Jun 30, 2021
Free cash flow (TTM): -$14.61M as of Jun 30, 2021
Net Debt Last Fiscal Year: $265.38M as of Jun 30, 2021
Shares outstanding: 37,240,262 as of Jul 19, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization