CA
NZ
UK
US
AU
IND
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Highlights
- In FY24, Canadian Utilities saw a slight revenue decline of 1.4% YoY, totalling CAD 3,742 million, primarily due to reduced contributions from ATCO Energy
- Operating profit for FY24 dropped by 20.1% YoY to CAD 1,056 million, influenced by higher expenses and lower gains from derivative financial instruments
- The company’s business unit ATCO Energy Systems achieved YoY revenue growth, with an increase of CAD 103 million for FY24
- For FY25, Canadian Utilities plans to invest CAD 1.5 billion, and expects capital expenditure will lead to significant earnings and cash flow growth
Canadian Utilities Ltd (TSX:CU) is a diversified global energy infrastructure company headquartered in Canada. It operates across three primary segments: Utilities, Energy Infrastructure, and Retail Energy.
In the financial year 2024 (FY24), Canadian Utilities reported a slight decline in revenue, totaling CAD 3,742 million, a decrease of 1.4% compared to CAD 3,796 million in FY23. Total expenses, on the other hand, rose by 8.6% YoY, reaching CAD 2,759 million, driven by higher salaries, wages, and benefits, as well as an increase in other operational expenses.
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