ENMAX annual net earnings down

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6 April 2016, Gas, Electricity

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Total revenue for the year ended December 31, 2015 was C$3.06 billion, compared to C$3.46 billion for the year ended December 31, 2014.

Operating profit for the year ended December 31, 2015 was C$119.1 million, compared to C$255 million for the year ended December 31, 2014.

Net earnings before tax for the year ended December 31, 2015 were C$50.4 million, compared to C$207.7 million for the year ended December 31, 2014.

"In 2015, we commissioned Shepard Energy Centre, Alberta's largest natural gas-fuelled generation plant and invested in Calgary's electrical infrastructure all critical to the reliable delivery of power to Albertans and Calgarians," said Gianna Manes, ENMAX President and CEO. "As we look ahead, we continue to take necessary steps to weather challenging market conditions. With Alberta's slow economic growth and the uncertainty surrounding implementation of the Provincial Government's Climate Leadership Plan, we are exercising caution in investments. We will also focus on realizing efficiencies and savings to continue to generate value for our customers, communities and shareholder, The City of Calgary."

Source: MarketLine

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