Maxim Power Corp. (T:MXG)
Business Focus: Independent Power Producers (NEC)
| Sector: Utilities | Industry: Independent Power Producers |
| Company Contact | |
| Address: | 1800, 715 - 5th Avenue S.W. CALGARY AB T2P 2X6 |
| Tel: | N/A |
| Website: | https://www.maximpowercorp.com |
| IR: | See website |
| Key People | ||
| M. Bruce Chernoff Chairman of the Board, Chief Executive Officer | Robert Emmott President, Chief Operating Officer | Kyle Rodney Mitton Chief Financial Officer, Vice President - Corporate Development |
| Kevin Dyck Vice President - Finance, Controller | Rob Bruce Watson Vice President - Operations | Kim Lorna Karran Corporate Secretary, Senior HR Advisor |
| Business Overview |
| Maxim Power Corp. is an independent power producer. The Company is focused entirely on power projects in Alberta. Its core asset, the 300 megawatts (MW) H.R. Milner Plant, M2, in Grande Cache, AB, is a combined cycle gas-fired power plant. The Company continues to explore additional development options in Alberta, including its permitted gas-fired generation projects and the permitting of its wind power generation project. Its Milner 2 (M2) power plant is a 204 MW natural gas-fired turbine generator located at the HR Milner Generating Station site near Grande Cache, Alberta. Its HR Milner Generating Station (Milner 1 or M1), located near Grande Cache, Alberta, is a 150 MW dual fuel steam turbine generator capable of burning both natural gas and coal. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Maxim Power Corp revenues decreased 71% to C$41.5M. Net income decreased 33% to C$28.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Realized loss (gain) on natural gas swap increase from C$13.8M (income) to C$1M (expense), Unrealized loss on natural gas swaps increase from C$708K to C$8.4M (expense). |
| Employees: | 44 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $280.08M as of Dec 31, 2023 |
| Annual revenue (TTM): | $41.46M as of Dec 31, 2023 |
| EBITDA (TTM): | $34.81M as of Dec 31, 2023 |
| Net annual income (TTM): | $28.30M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$3.59M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $49.06M as of Dec 31, 2023 |
| Shares outstanding: | 50,680,975 as of Apr 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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