![]() While this results in lower net additions, analysis shows that this improves the overall profitability of the Company. The Company has made a conscious effort to maintain new customer margins at the expense of signing high volume/low margin customers that would otherwise be available. Commercial gross additions totaled 168,000, down 12% from 190,000 added in the prior comparable quarter. The result was 17,000 Consumer division net customers added, reversing a longstanding downtrend in these higher margin customers. New additions were composed of 165,000 new residential customers, up 9% from the 151,000 added in the third quarter of fiscal 2013. The overall customer base, including installations for the Home Services division grew to 4.6 million, up 7% from a year earlier. The resulting build-up of embedded gross margin continued to deliver substantial gross margin growth which, combined with tight cost control, led to a third consecutive quarter of Base EBITDA and Base Funds from operations growth.Ĭustomer additions in the third quarter were 345,000, down 2% from those added in Q3 of fiscal 2013. For nine consecutive quarters, Just Energy has added more than 300,000 customers. The third quarter financial results were a continuation of the plan laid out in the Company's guidance for fiscal 2014. This will allow us to support the dividend as well as utilize cash flow to reduce debt and fund growth in the future." As many of our shareholders rely on these dividends for a portion of their income, your management team will continue to work to further reduce the payout ratio over time. The result is a much lower payout ratio supporting our dividend moving forward. I am pleased to say that, year to date, we are right on track for these results."Įxecutive Chair Rebecca MacDonald added: "We continue to control costs and grow our top line. The result would be a 26% year over year increase in Base EBITDA. We intended to combine this growth in margin with flat or lower spending on administrative and selling and marketing costs. We would grow our margin by double digits reflecting the customer base growth built over the past two years. Total customers (RCEs and installed units)Ĭhief Executive Officer Ken Hartwick, commenting on the quarterly results, stated: "Our plan for fiscal 2014 was simple. Home Services customers (installed units) ![]() Payout ratio on Base Funds from continuing operations Profit (loss) from discontinued operationsĮarnings per share from continuing operations - basicĮarnings per share from continuing operations - diluted (Millions of dollars except where indicated and per share amounts) Third quarter and year to date results are consistent with achieving the Company's published guidance for Base EBITDA of $220 million and a dividend payout ratio on Funds from continuing operations of less than 100% in fiscal 2014. Payout ratio on Base Funds from operations of 80% was reduced from 126% in fiscal 2013. ![]() Gross Margin of $162.8 million, increased 16% year over year.Įmbedded Gross Margin of $2.4 billion, increased 9% year over year.īase EBITDA from continuing operations of $72.2 million, increased 31% year over year.īase Funds from continuing operations of $38.8 million, increased 10% year over year. Net customer additions of 50,000, resulting in a total customer base of 4.6 million, increased 7% year over year. ( JE.TO)( JE), a competitive retailer of electricity and natural gas, today announced results for its third quarter of fiscal 2014.Ĭustomer additions and installs of 345,000, which represents the ninth consecutive quarter over 300,000. TORONTO, ONTARIO-(Marketwired - Feb 13, 2014) - Just Energy Group, Inc. ![]()
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