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Maxim Power Corp. Reports 2024 Financial and Operating Results with Revenue of $101 million and Record Annual Generation from M2
CALGARY, Alberta, March 21, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporati...
About this update from Maxim Power Corp.
[{"type":"text","content":"Maxim Power Corp. Reports 2024 Financial and Operating Results with Revenue of $101 million and Record Annual Generation from M2\n\n\n\n CALGARY, Alberta, March 21, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. (\"MAXIM\" or the \"Corporation\") (TSX: MXG) announced today the release of financial and operating results for the fourth quarter ended December 31, 2024. The audited condensed consolidated financial statements, accompanying notes and Management’s Discussion and Analysis (“MD&A”) will be available on SEDAR+ and on MAXIM's website on March 21, 2025. All figures reported herein are Canadian dollars unless otherwise stated.\n \n\n\n\n\n FINANCIAL HIGHLIGHTS\n \n\n\n\n\n\n\n\n\n\n\n\n Three Months Ended\n \n\n\n December 31,\n \n\n\n\n Twelve Months Ended\n \n\n\n December 31,\n \n\n\n\n\n\n ($ in thousands except per share amounts)\n \n\n\n\n 2024\n \n\n\n\n\n\n 2023\n \n\n\n\n 2024\n \n\n\n\n\n\n 2023\n \n\n\n\n\n\n Revenue\n \n\n\n\n 24,048\n \n\n\n\n\n 38,990\n \n\n\n 101,482\n \n\n\n\n\n 41,458\n \n\n\n\n\n Net income (loss)\n \n\n\n\n (341\n \n\n )\n \n\n\n\n\n 19,477\n \n\n\n 21,946\n \n\n\n\n\n 28,295\n \n\n\n\n\n Earnings (loss) per share – basic\n \n\n\n\n (0.01\n \n\n )\n \n\n\n\n\n 0.39\n \n\n\n 0.42\n \n\n\n\n\n 0.56\n \n\n\n\n\n Earnings (loss) per share – diluted\n \n\n\n\n (0.01\n \n\n )\n \n\n\n\n\n 0.32\n \n\n\n 0.38\n \n\n\n\n\n 0.49\n \n\n\n\n\n Adjusted EBITDA\n \n\n (\n \n\n 1)\n \n\n\n\n 5,647\n \n\n\n\n\n 31,512\n \n\n\n 38,531\n \n\n\n\n\n 50,686\n \n\n\n\n\n Total generation – (MWh)\n \n\n\n\n 425,486\n \n\n\n\n\n 485,222\n \n\n\n 1,733,267\n \n\n\n\n\n 516,849\n \n\n\n\n\n Total fuel consumption – (GJ)\n \n\n\n\n 3,514,660\n \n\n\n\n\n 3,855,880\n \n\n\n 14,221,985\n \n\n\n\n\n 4,315,372\n \n\n\n\n\n Average Alberta market power price ($ per MWh)\n \n\n\n\n 51.52\n \n\n\n\n\n 81.61\n \n\n\n 62.78\n \n\n\n\n\n 133.63\n \n\n\n\n\n Average realized power price ($ per MWh)\n \n\n\n\n 56.52\n \n\n\n\n\n 80.35\n \n\n\n 58.55\n \n\n\n\n\n 80.21\n \n\n\n\n\n Loans and borrowings\n \n\n\n\n -\n \n\n\n\n\n 81,203\n \n\n\n -\n \n\n\n\n\n 81,203\n \n\n\n\n\n Total net debt (net cash)\n \n\n (\n \n\n 1)\n \n\n\n\n (30,068\n \n\n )\n \n\n\n\n\n 48,945\n \n\n\n (30,068\n \n\n )\n \n\n\n\n\n 48,945\n \n\n\n\n\n Total assets\n \n\n\n\n 359,098\n \n\n\n\n\n 425,840\...