NRG Yield (NYLD) has reported 72.73 percent jump in profit for the year ended Dec. 31, 2016. The company has earned $57 million in the year, compared with $33 million for the last year.
Revenue during the year grew 17.49 percent to $1,021 million from $869 million in the previous year.
Operating income for the year was $218 million, compared with $277 million in the previous year.
However, the adjusted EBITDA for the year stood at $899 million compared with $189 million in the prior year period. At the same time, adjusted EBITDA margin improved 6630 basis points in the year to 88.05 percent from 21.75 percent in the last year period.
"NRG Yield finished 2016 strong with exceptional financial results and significant financial flexibility to continue executing on its growth plans in 2017," said Christopher Sotos, NRG Yield's president and chief executive officer. "With today's announcement of both the next drop down and an expanded ROFO pipeline from NRG, NRG Yield stands to continue its dividend growth."
For fiscal year 2017, NRG Yield forecasts net income to be $110 million.
Operating cash flow improves significantlyNRG Yield has generated cash of $560 million from operating activities during the year, up 38.27 percent or $155 million, when compared with the last year. The company has spent $161 million cash to meet investing activities during the year as against cash outgo of $1,108 million in the last year.
The company has spent $193 million cash to carry out financing activities during the year as against cash inflow of $385 million in the last year period.
Cash and cash equivalents stood at $317 million as on Dec. 31, 2016, up 185.59 percent or $206 million from $111 million on Dec. 31, 2015.
Debt moves up marginallyNRG Yield has witnessed an increase in total debt over the last one year. It stood at $5,708 million as on Dec. 31, 2016, up 2.06 percent or $115 million from $5,593 million on Dec. 31, 2015. Total debt was 68.09 percent of total assets as on Dec. 31, 2016, compared with 71.94 percent on Dec. 31, 2015. Debt to equity ratio was at 2.41 as on Dec. 31, 2016, up from 2.12 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 0.80 for the year from 1.16 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
