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2013 Financial Results Announced

March 12, 2014
Published In: Corporate Information

  

​"EPCOR's 2013 results from core operations demonstrated the value of our business strategy with solid performance across the Company. EPCOR's results are a reflection of the performance of our people, who work diligently to keep the lights on and water running each and every day."

- David Stevens, EPCOR’s President & CEO

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The Company's Heartland Transmission line (50% joint arrangement with AltaLink) was placed into service in December 2013.

EPCOR's results were impacted by a fourth quarter non-cash impairment charge and non-cash loss on sale, both in relation to our investment in Capital Power and neither of which had an adverse impact on our business.

  • Highlights of EPCOR's financial performance are as follows: 
  • Net income was $175 million on revenues of $1,929 million for the year ended December 31, 2013 compared with net income of $19 million on revenues of $1,931 million for 2012.
  • Cash flow from operating activities was $261 million for the year ended December 31, 2013 compared with $349 million for 2012.
  • Investment in capital projects was $444 million for the year ended December 31, 2013 compared with $360 million for 2012.
  • Net income was $23 million on revenues of $492 million for the three months ended December 31, 2013 compared with net loss of $68 million on revenues of $495 million for the corresponding period in the previous year.
  • Investment in capital projects was $135 million for the three months ended December 31, 2013 compared with $140 million for the corresponding period in the previous year.

Management's discussion and analysis (MD&A) of the annual results are shown below. The MD&A and the audited annual consolidated financial statements are available on EPCOR's website (www.epcor.com), and SEDAR (www.sedar.com).

EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. The Company's subsidiaries also provide electricity and water services and products to residential and commercial customers. EPCOR, headquartered in Edmonton, is an Alberta top 60 employer. EPCOR's website address is www.epcor.com.

For more information, please contact:

Tim​ LeRiche
Media Relations
Phone: (780) 969-8238


Claudio Pucc​i
Investor/Corporate Relations
Phone: (780) 969-8245
Toll Free: 1-877-969-8280