Financials
Financial Highlights
| |
Three Months Ended
September 30
|
Nine Months Ended
September 30,
|
| ($ in thousands except per share amounts) |
2011 |
2010 |
2011 |
2010 |
| Net revenue (1) |
$ 37,593 |
$ 31,123 |
$ 110,474 |
$ 114,555 |
| Adjusted EBITDA (1) |
13,445 |
6,466 |
27,038 |
29,703 |
| Net income (loss) |
17,787 |
108 |
16,871 |
24,882 |
| Per share - basic and diluted |
$ 0.33 |
$ 0.00 |
$ 0.31 |
$ 0.46 |
| Funds from operations (1) |
13,135 |
5,609 |
27,313 |
24,569 |
| Per share - basic and diluted |
$ 0.24 |
$ 0.10 |
$ 0.51 |
$ 0.45 |
| Electricity Deliveries (MWh) |
335,268 |
351,910 |
907,808 |
998,486 |
| Net Generation Capacity (MW)(2) |
815 |
809 |
815 |
809 |
| Average Alberta Power Price ($ per MWh) |
$ 94.71 |
$ 35.69 |
$ 67.73 |
$ 60.72 |
| Average Milner Realized Electricty Price ($ per MWh) |
$ 95.41 |
$ 51.72 |
$ 64.78 |
$ 64.05 |
(1) Select financial information was derived from the unaudited condensed consolidated interim financial statements and is prepared in accordance with IFRS, except net revenue, adjusted EBITDA and funds from operations ("FFO"). Net revenue is provided to highlight revenue net of any gains or losses realized on commodity swaps. Adjusted EBITDA is provided to assist management and investors in determining the Corporation’s approximate operating cash flows before interest, income taxes, depreciation and amortization and certain other income and expenses and FFO is provided to assist management and investors in determining the Corporation’s cash flows generated by operations before the cash impact of working capital fluctuations. Net revenue, adjusted EBITDA and FFO do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Refer to ‘Non-IFRS measures’ for reconciliations between non-IFRS financial measures and comparable measures calculated in accordance with IFRS.
(2) Generation Capacity is manufacturer's nameplate capacity net of minority ownership interests of third parties.
