GEORGE TOWN (Yosefardi) – Consolidated Water Co. Ltd. booked net income attributable to stockholders of $6.26 million, for the year ended December 31, 2014, lower from $8.59 million for the year ended December 31, 2013.
Total revenues increased 3% to approximately $65.6 million in 2014, compared with approximately $63.8 million in the previous year. The increase in revenues was attributable to higher revenues for the Company’s retail and services business segments.
Retail water revenues increased 5% to approximately $24.1 million in the year ended December 31, 2014, versus approximately $23.0 million in 2013.
The expansion in retail revenues was primarily due to an approximate 3% increase in the number of gallons of water sold by the Company’s retail operations in the Cayman Islands, along with an increase of approximately $328,000 in revenues generated by the Company’s retail operations in Bali, Indonesia.
The company successfully completed the expansion of its Bali desalination plant in 2014 to 790,000 gallons per day and are currently evaluating strategies to increase and smooth out the seasonality of our water sales in this very price-sensitive market.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent.