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2014 Financial Results Announced

March 04, 2015
Published In: Corporate

"EPCOR made good progress in 2014, achieving solid financial and operational results across our water, wastewater, and electricity operations. Our results are driven by the performance of our people, as we provide safe and reliable essential services, and win new business as EPCOR did in 2014 with the Regina wastewater treatment facility."

- David Stevens, EPCOR President & CEO

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Highlights of EPCOR's financial performance are as follows: 

  • Net income was $191 million on revenues of $1,904 million for the year ended December 31, 2014, compared with net income of $175 million on revenues of $1,929 million for 2013.
  • Cash flow from operating activities was $354 million for the year ended December 31, 2014, compared with $269 million for 2013.
  • Investment in capital projects was $385 million for the year ended December 31, 2014, compared with $444 million for 2013. The decrease of $59 million was primarily due to lower capital expenditure on the Heartland Transmission Project which was substantially completed in December 2013.
  • Net income was $75 million on revenues of $499 million for the three months ended December 31, 2014, compared with $23 million on revenues of $492 million for the corresponding period in the previous year. The increase of $52 million is primarily due to an impairment on our investment in Capital Power in 2013.
  • Investment in capital projects was $120 million for the three months ended December 31, 2014, compared with $135 million for the corresponding period in the previous year.

Management's discussion and analysis (MD&A) of the annual results are available below. The MD&A and the audited annual consolidated financial statements are also available below or on EPCOR's website and SEDAR.

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 70 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