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CALGARY, AB – Keyera Corp. ( TSX: KEY ) (“Keyera”) announced its 2020 year-end financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com . To view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings on SEDAR at www.sedar.com. Corporate Highlights Keyera delivered adjusted earnings before interest, taxes, depreciation, and amortization (“adjusted EBITDA” 1 ) for the fourth quarter of $168 million, contributing to $874 million for 2020. This represents a year-over-year decrease of only 7% from a record year in 2019, demonstrating the resilience of the business through even the most severe of commodity price downturns linked to the global pandemic. The strong financial results were delivered despite unplanned outages at the Wapiti and Alberta EnviroFuels (“AEF”) facilities that reduced annual EBITDA by approximately $45 million. Distributable cash flow 1 (“DCF”) was $133 million in the fourth quarter, with a record full year DCF 1 of $718 million representing an annual increase of 21%. Net earnings 2 were negative $75 million for the fourth quarter and $62 million for the full year, compared to $30 million and $444 […]
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