Einfach E-Mail-Adresse eintragen und auf "Abschicken" klicken - willkommen!
3.3.2008: Meldung: Calpine Corp.: 2007 Full-Year Results
Calpine Reports 2007 Full-Year Results
Friday February 29, 6:05 am ET
Significantly Improved Financial Performance
HOUSTON & SAN JOSE, Calif.--Calpine Corporation today reported full-year financial and operating results for the year ended Dec. 31, 2007. Calpine’s Annual Report on Form 10-K, including its audited financial statements, for the year ended Dec. 31, 2007, was filed with an effective date of today with the Securities and Exchange Commission (SEC) and can be found on the SEC’s website at http://www.sec.gov.
Full-year highlights include:
Year Ended Dec. 31
2007 2006 % Chg
Operating Revenues (millions) (a) $ 7,970 $ 6,937 15 %
GAAP Net Income/(loss) (millions) (a) $ 2,693 $ (1,765 )
NA
Commodity Margin (millions) (b,c) $ 2,225 $ 2,021 10 %
Adjusted EBITDA (millions) (c,d) $ 1,412 $ 1,029 37 %
Megawatt-Hours Generated (thousands) 90,811 83,146 9 %
Average Total Megawatts in Operation (thousands) 24,755 26,785 (8 )%
Average Capacity Factor (excluding peakers) 46.6 % 39.2 % 19 %
(a) See the accompanying Consolidated Statements of Operations for the periods ending on December 31 for 2005, 2006 and 2007
(b) Commodity margin includes Calpine’s electricity and steam revenues, hedging and optimization activities, renewable energy credit revenue, transmission revenue and expenses, and fuel and purchased energy expenses, but excludes mark-to-market activity and other service revenues.
(c) Commodity Margin and Adjusted EBITDA are non-GAAP measures important to management’s assessment of the Company’s performance. Commodity margin and Adjusted EBITDA do not purport to represent net income (loss), the most comparable GAAP measure, as an indicator of operating performance and are not necessarily comparable to similarly-titled measures reported by other companies. See the accompanying tables for a reconciliation of commodity margin and Adjusted EBITDA to net income (loss) from operations.
(d) Earnings Before Interest, Tax, Depreciation and Amortization, as adjusted.
Robert P. May, Calpine’s Chief Executive Officer, stated, “We entered 2008 as the new Calpine with a renewed commitment to: generating and selling clean, reliable and cost-effective electricity. We continue to deliver on this commitment every day, which is why Calpine is one of the industry’s largest North American natural gas-fired power providers and is the nation’s largest renewable geothermal energy producer, well-positioned to lead a new era of clean power generation.”
Outlook
Going forward, Calpine expects to maintain its strong liquidity position and maximize the performance of core strategic assets in the markets in which Calpine operates. The Company has taken steps to stabilize, improve and strengthen its power generation business and financial health by reducing activities and curtailing expenditures in certain non-core areas.
Analyst Meeting and Webcast
As previously announced, Calpine will host an analyst meeting today. A live Internet Webcast of the meeting, including management"s presentation will be active at approximately 12:45 p.m. EST and can be found at http://www.calpine.com by clicking on an available audio link. The Webcast will be available for replay purposes on the Company’s website approximately two hours after the event and then for 45 days following the live broadcast.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering approximately 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.
Contact:
Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
[email protected]
or
Investor Relations:
Norma Dunn, 713-830-8883
[email protected]
Source: Calpine Corporation
Friday February 29, 6:05 am ET
Significantly Improved Financial Performance
HOUSTON & SAN JOSE, Calif.--Calpine Corporation today reported full-year financial and operating results for the year ended Dec. 31, 2007. Calpine’s Annual Report on Form 10-K, including its audited financial statements, for the year ended Dec. 31, 2007, was filed with an effective date of today with the Securities and Exchange Commission (SEC) and can be found on the SEC’s website at http://www.sec.gov.
Full-year highlights include:
Year Ended Dec. 31
2007 2006 % Chg
Operating Revenues (millions) (a) $ 7,970 $ 6,937 15 %
GAAP Net Income/(loss) (millions) (a) $ 2,693 $ (1,765 )
NA
Commodity Margin (millions) (b,c) $ 2,225 $ 2,021 10 %
Adjusted EBITDA (millions) (c,d) $ 1,412 $ 1,029 37 %
Megawatt-Hours Generated (thousands) 90,811 83,146 9 %
Average Total Megawatts in Operation (thousands) 24,755 26,785 (8 )%
Average Capacity Factor (excluding peakers) 46.6 % 39.2 % 19 %
(a) See the accompanying Consolidated Statements of Operations for the periods ending on December 31 for 2005, 2006 and 2007
(b) Commodity margin includes Calpine’s electricity and steam revenues, hedging and optimization activities, renewable energy credit revenue, transmission revenue and expenses, and fuel and purchased energy expenses, but excludes mark-to-market activity and other service revenues.
(c) Commodity Margin and Adjusted EBITDA are non-GAAP measures important to management’s assessment of the Company’s performance. Commodity margin and Adjusted EBITDA do not purport to represent net income (loss), the most comparable GAAP measure, as an indicator of operating performance and are not necessarily comparable to similarly-titled measures reported by other companies. See the accompanying tables for a reconciliation of commodity margin and Adjusted EBITDA to net income (loss) from operations.
(d) Earnings Before Interest, Tax, Depreciation and Amortization, as adjusted.
Robert P. May, Calpine’s Chief Executive Officer, stated, “We entered 2008 as the new Calpine with a renewed commitment to: generating and selling clean, reliable and cost-effective electricity. We continue to deliver on this commitment every day, which is why Calpine is one of the industry’s largest North American natural gas-fired power providers and is the nation’s largest renewable geothermal energy producer, well-positioned to lead a new era of clean power generation.”
Outlook
Going forward, Calpine expects to maintain its strong liquidity position and maximize the performance of core strategic assets in the markets in which Calpine operates. The Company has taken steps to stabilize, improve and strengthen its power generation business and financial health by reducing activities and curtailing expenditures in certain non-core areas.
Analyst Meeting and Webcast
As previously announced, Calpine will host an analyst meeting today. A live Internet Webcast of the meeting, including management"s presentation will be active at approximately 12:45 p.m. EST and can be found at http://www.calpine.com by clicking on an available audio link. The Webcast will be available for replay purposes on the Company’s website approximately two hours after the event and then for 45 days following the live broadcast.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering approximately 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.
Contact:
Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
[email protected]
or
Investor Relations:
Norma Dunn, 713-830-8883
[email protected]
Source: Calpine Corporation