Dec 16, 2013 - Canada-based Capstone Infrastructure Corp (TSE:CSE) on Thursday guided for 2014 adjusted EBITDA of between CAD 140 million (USD 132m/EUR 96m) and CAD 150 million, as compared to CAD 120 million-130 million expected for 2013.
EBITDA stands for earnings before interest, tax, depreciation and amortisation.
At the start of October the company wrapped up the CAD-70-million purchase of Canada-based Renewable Energy Developers Inc (TSE:RDZ), or RED, formerly known as Sprott. The combined business has power generation facilities across the country with about 465 MW of installed capacity, including 95 MW of operating wind farms in Nova Scotia and Ontario, plus an additional 79 MW of wind projects under construction.
Capstone Infrastructure explained that one of the main factors for the 2014 forecast was the performance of RED’s wind farms. Bristol Water, in which it owns a 50% stake, will lift prices by 3.8% as of April 1, 2014, which will further boost results for 2014.
The Canadian company noted that its portfolio of core infrastructure businesses was performing in line with expectations. The firm booked a 7% year-on-year EBITDA rise to USD 26.3 million for the third quarter of 2013. Its power generation segment, which includes wind, biomass, solar, hydropower and gas-fired power capacity, generated adjusted EBITDA of USD 16.8 million or 11.5% more than a year ago.
(CAD 1.0 = USD 0.945/EUR 0.687)
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