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EPCOR Utilities books higher adjusted EBITDA, lower net income in Q4, FY'19

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EPCOR Utilities books higher adjusted EBITDA, lower net income in Q4, FY'19

EPCOR Utilities Inc. on Feb. 13 reported fourth-quarter 2019 adjusted EBITDA of C$194 million, compared to C$182 million in the comparable period in 2018.

Net income for the quarter totaled C$59 million, down from C$107 million in the prior-year period, mainly due to higher income tax and depreciation expenses and lower transmission system access service charge net collections, the company said.

For full-year 2019, the company posted adjusted EBITDA of C$730 million, up from C$700 million in 2018, while net income decreased year over year to C$231 million from C$295 million.

Investment in capital projects for 2019 totaled C$786 million, compared to C$653 million in 2018.