Boralex posts record net earnings of $115 million for 2023 and increases its financial flexibility, with nearly $550 million in available cash resources and authorized financing1 to support its growth
MONTREAL, March 01, 2024 (GLOBE NEWSWIRE) -- Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to report a significant increase in earnings in the fourth quarter of 2023 and for fiscal 2023 overall.
- Operating income of $98 million ($119 million) in Q4-2023 and $226 million ($306 million) for fiscal 2023.
- Net earnings of $58 million in Q4-2023 and $115 million for fiscal 2023, compared to a net loss of $7 million in Q4-2022 and net earnings of $8 million for fiscal 2022.
- Net cash flows related to operating activities of $107 million in Q4-2023 and $496 million in fiscal 2023.
- Boralex has $547 million in available cash resources and authorized financing facilities2 as at December 31, 2023, up $155 million from the previous quarter.