TransAlta Reports Fourth Quarter and Full Year 2020 Results, Provides 2021 Outlook and Announces Carbon Neutrality by 2050
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Fourth Quarter 2020 Financial Highlights
Comparable EBITDA
Free Cash Flow ( FCF )
(1) of $52 million or $0.19 per share in the quarter compared to $121 million or $0.43 per share for the same period in 2019
Full Year 2020 Financial Operating Highlights
Comparable EBITDA
(1,3) of $927 million compared to $928 million for the year ending 2019 adjusted for PPA Termination Payments (as defined below)
FCF
(1,3) of $358 million or $1.30 per share compared to $379 million or $1.34 per share adjusted for one-time PPA Termination Payments received in 2019
Strong availability of 90.3 per cent compared to 90.0 per cent for 2019
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Business Development and Acquisition Update
On October 15, 2020, Superior acquired all of the equity interests of a Southern California propane distribution company, operating under the tradename, Central Coast Propane (“Central Coast”), for total consideration of approximately US$12.9 million (CDN $17.1 million). The purchase price was paid primarily with cash from Superior’s credit facility. Central Coast is a retail distributor delivering approximately 5.0 million litres of propane to approximately 2,800 residential and commercial customers in Southern California.
On October 27, 2020, Superior acquired the assets of a retail propane distribution company, operating under the tradename, Petro SE Propane (“Southern Propane and Mountain Gas”), for total consideration of approximately US$6.1 million (CDN $8.0 million). The purchase price was paid primarily with cash from Superior’s credit facility. Petro is a retail distributor delivering propane in North Carolina, South