The following is a summary of the Polaris Renewable Energy's (RAMPF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Polaris has recorded an increase in power production leading to a rise in revenue from $62.6 million to $78.5 million.

• Earnings attributable to owners significantly increased from $2.5 million to $11.7 million, driven by higher operating margins and deferred tax benefit.

• Adjusted EBITDA jumped from $44.9 million to $57.7 million, reflecting an improvement in operating margins.

• The company exhibited better cash management, balancing increased operating cash generation with reduced cash use in investment activities.

• Polaris will be paying out a quarterly dividend of $0.15 per share on February 23rd and maintained its target for a 50% payout ratio.

Business Progress:

• Power production increase was due to better hydrology conditions in Peru, consistent production in Nicaragua, and greater water availability in Ecuador.

• Though rainfall affected output at the Canoa I facility in the Dominican Republic, the company managed to raise overall production.

• The construction of Vista Hermosa Solar Park in Panama reflects the growth in Polaris's investment in the region.

• The company is actively pursuing optimization at Canoa I via new panel installations, expecting to complete this by July, with positive impacts anticipated in Q3 and full results in Q4.

• Polaris is progressing towards its goal of solar storage, while also looking into the repurposing of old panels at Canoa.

• Two notable acquisitions are close to completion, promising to strengthen the cash position. The storage project in the Dominican Republic is performing beyond estimations.

• Polaris aims to reduce the net debt to EBITDA ratio down to 2% by year-end based on current amortization schedules.

More details: Polaris Infrastructure Inc. IR

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