Consolidated Water(CWCO)2025-03-17 21:09Production Capacity - The current aggregate production capacity of the two retail plants at Abel Castillo Water Works is 3.0 million gallons per day, while the West Bay plant has a capacity of 1.0 million gallons per day[48]. - The North Sound, Red Gate, and North Side Water Works plants have production capacities of approximately 1.6 million, 2.6 million, and 2.4 million gallons of water per day, respectively[57]. - The Windsor plant in The Bahamas has a capacity of 2.8 million gallons per day, with a minimum delivery requirement of 16.8 million gallons per week[60]. - The Blue Hills plant, the largest facility in The Bahamas, has a capacity of 12.0 million gallons per day, requiring a minimum delivery of 63.0 million gallons per week[61]. - OC-BVI is required to supply up to 600,000 gallons per day to the BVI government under a water supply agreement expiring in March 2031[73]. Revenue Breakdown - For fiscal years 2024, 2023, and 2022, bulk water operations accounted for approximately 25%, 19%, and 35% of consolidated revenue, respectively[55]. - Services operations accounted for approximately 38%, 54%, and 31% of consolidated revenue for fiscal years 2024, 2023, and 2022, respectively[64]. - Manufacturing operations represented approximately 13%, 10%, and 7% of consolidated revenue for fiscal years 2024, 2023, and 2022, respectively[68]. - Total revenue for the year ended December 31, 2024, was 180,211,233 in 2023[404]. - Retail revenue increased to 30,158,051 in 2023, reflecting a growth of 5.2%[404]. - Services revenue significantly decreased to 97,966,650 in 2023, a decline of 48.0%[405]. - Manufacturing revenue remained relatively stable at 17,491,474 in 2023, showing a slight increase of 0.6%[404]. Financial Performance - Revenue for the year ended December 31, 2024, was 180.21 million in 2023[359]. - Gross profit decreased to 61.93 million in 2023, representing a decline of 26.3%[359]. - Net income attributable to Consolidated Water Co. Ltd. stockholders was 29.59 million in 2023, a decrease of 4.6%[359]. - Basic earnings per share for continuing operations was 1.95 in 2023, a decline of 42.1%[359]. - Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders for 2024 is 30,672,135 in 2023[460]. - Net income from discontinued operations for 2024 is 1,086,744 in 2023[460]. Assets and Liabilities - Total assets increased to 218.44 million in 2023, representing an increase of approximately 11.4%[357]. - Total current assets increased to 112.71 million in 2023, reflecting a growth of approximately 40%[357]. - Total liabilities increased to 26.61 million in 2023, a rise of about 5.2%[357]. - The total current liabilities increased slightly to 23.90 million in 2023, an increase of about 4.4%[357]. - The allowance for credit losses increased to 583,401 in 2023, reflecting a provision for credit losses of 1,108,390, with intangible assets having useful lives of up to 15 years[445]. Tax and Regulatory Environment - The Cayman Islands government has no taxes on profits, income, or capital gains, which benefits the company's operations[89]. - The company has been advised that it will not receive any duty concessions in new retail water licenses signed with the Cayman Islands government[91]. - The provision for income taxes was 6,750,014 in 2023[455]. - The effective tax rate for 2024 was 10.73%, compared to 17.77% in 2023[456]. Future Outlook - The company expects to earn approximately 107.1 million thereafter[426]. - The company is pursuing a project in Oahu, Hawaii, to design and construct a seawater reverse osmosis desalination plant with a capacity of 1.7 million gallons per day[369].