RE:ALA Growth since 2018 To give you some more explanation on the Projected revenue ( top line) for Petrogas
You have noted that the contribution on the top line revenue for ALA has been 33 % in 2018 2019 2020
Applying the same 33 % for 2021 would need $ 6 400 M on the top line revenue to keep the contribution to 33 % .
So to establish Petrogas top line revenue for 2021 is of course
$ 6 400 M less 2020 at $ 5 587 M = $ 813 M
However we deduct the increase in revenu from 2019 to 2020 which is
$ 5495 -$ 5587 = $ 92
Finally you deduct this amount from $ 813 M that give a pretty good appreciation on the Petrogas top line revenue in 2021 or $ 813 - $ 92 = $ 721 M
This shows that EBITDA contribution from Petrogas at $ 225 M give a contribution in percentage : 32 % ( pretty close to 33 %)
As a general note, we see that growing the top line is what ALA is doing and keeping EBITDA contribution at 33 % is pretty good.
Of course the bottom line net will improved accordingly .
This the way I see the picture.
bossu wrote: Closing WGL acquisition July 3 2018
Numbers since 2018
..................................2018 ...........2019......2020......2021
Top line revenue $ 4 257 M $ 5 495 M $ 5 587 6 400 M (note)
EBITDA...............$ 1 009 M $ 1 271M$ $ 1 310 1 500 M (Guidance)
..................................23 %........23.%..........23..% .........23
.........
With the Petrogas acquisition that is bugeted to add $ 225 M to the EBITDA numbers but the top line revenu from Petrogas acquisition is not published !
This look to me that the top line revenu at the end of 2021 will be a 14 % growth in revenue from 2020 This is all accredutuve to Randy and his team!
So grow in the top line and at the end bottom line as per Randy :
«
- The company has a 2021 normalized EPS (earnings per share) guidance of $1.45 to $1.55 per share, which represents approximately 20 per cent year-over-year growth using midpoint guidance numbers. AltaGas is acutely focused on growing earnings per share and creating earnings durability in the years ahead.