CARIBBEAN UTILITIES COMPANY, LTD. - DRIVING A SUSTAINABLE FUTURE: STRONG RESULTS, STRATEGIC INNOVATION AND CUSTOMER VALUE

Executive Summary

• Caribbean Utilities Company, Ltd. reported FY 2025 net earnings of $47.4 million, an 11% increase year‑over‑year.
• Capital expenditures totaled $88.9 million focused on construction projects, BESS implementation and engine life‑cycle upgrades that delivered $7.9 million in fuel cost savings for customers.
• The Board approved a 3% dividend increase to $0.190 per Class A share; S&P Global upgraded the rating outlook from negative to stable.

Key Details

• Earnings: FY 2025 net earnings $47.4 M (up $4.7 M vs. 2024); earnings attributable to Class A shares $46.3 M.
• Revenue/Customer Growth: 2% increase in total customer count; growth driven by large commercial customers and tourism‑related development.
• Capital Expenditures: $88.9 M invested in construction, Battery Energy Storage System (BESS) and Life Cycle Upgrade (LCU) projects.
• Fuel Savings & Efficiency: BESS + LCU yielded 1.3 M imperial gallons of fuel saved, a 13% reduction in average customer fuel charge, $7.9 M cost savings, and a 3.2% boost in fleet efficiency.
• Reliability Improvements: Average outage duration per customer fell to 1.3 hours (down from 1.8 h); outage frequency dropped to 1.2 incidents (vs. 2.4 in 2024), representing >33% reduction in interruption hours.
• Dividend: Quarterly dividend increased 3% to $0.190 per Class A share (previously $0.185).
• Rating Outlook: S&P Global revised outlook from negative to stable.
• Green Financing Highlights:
• $50 M invested in green projects (May 2022‑May 2025).
• Estimated CO₂ reduction of 8,512 metric tons.
• Framework rated “Excellent” by Sustainable Fitch; aligns with Green Bond Principles and UN SDGs.
• Regulatory Licences: T&D licence expires April 2028 (auto‑renewable to 2048); Generation licence expires November 2039.

Notable Quotes

“As we close out the financial year, I am proud of the strong results we have achieved while staying focused on what matters most – delivering a resilient and equitable energy system for the households and businesses we serve.” – Richard Hew, President & CEO

All figures are in United States dollars unless otherwise noted.