First quarter highlighted by successful organic and acquisition growth strategy

Q1 2018 Highlights

  • Despite challenging weather conditions and one-time costs, deregulated energy business produces $22.2 million in Adjusted EBITDA
  • Continued positive results from the integration of the USG&E business, with annualized run-rate of $10 million in cost synergies achieved by the end of the second quarter of 2018, approximately half of which are expected to be realized in the latter half of 2018, net of integration costs
  • Conservative Payout Ratio for the last twelve months of 77.7%

"Our first quarter highlighted the strength of our deregulated energy business, with $22.2 million in Adjusted EBITDA, representing 31% growth year-over-year despite extreme cold weather and volatility in wholesale energy prices. After an extensive review of strategies to enhance unitholder value, we've determined that focused execution on our deregulated energy business, aimed at increasing profitability through cost reduction and high-margin growth, will best position us to create value for our unitholders. We firmly believe that our current share price does not accurately reflect the Company’s intrinsic value and, accordingly, plan to start purchasing shares under our NCIB program as soon as possible."

Michael Fallquist,
CEO of Crius Energy Trust