Crius Energy Trust Tr Unit CRIUF

Exiting the Solar Business

[novascotian2014]

Exiting the Solar Business ..The Company is in the final stages of a multi-step process to divest the solar business and expect minimal ongoing losses from this business during the remainder of the year. While the initial expectation was that the process would be complete in the third quarter of 2018, we now expect the process to be completed by the end of the year. Solar related losses have been substantially eliminated due to the discontinuation of solar sales and marketing activities, with the temporary exception of the Verengo Solar platform in California, which continues to operate on a near break-even basis. Excluding any proceeds from a sale of the solar business, the Company estimates one-time costs of up to $2 million to be incurred in the fourth quarter of 2018.

OUTLOOK..Following the completion of an extensive review of strategies to enhance unitholder value earlier this year, the Board and Management are confident in our strategic decision to focus on our deregulated energy business. Management continue to advance our strategic initiatives to exit solar and improve the profitability of our deregulated energy business through costreduction, high-margin customer growth and portfolio optimization. These strategic initiatives are expected to result in a cumulative $35 million annual improvement to Adjusted EBTIDA following the acquisition of USG&E in the third quarter of 2017; made up of cost-reductions of $25 million on an annual run-rate basis, which we are now poised to achieve by year-end, together with the exit from the solar business, which is now substantially complete. Management believe these strategic changes are creating a foundation on which the company can deliver a minimum steady-state base of Adjusted EBITDA of $100 million annually.

[Marilynm]

Great news! Thanks for sharing.

[predawn]

My god man thats old old news if one has not read this a long time ago you should not be investing as blindly as u R ;;;;;;;

[deisman03]

Predawn, I don't know what your problem is??? Are you an unlaunched millenial???  GLTA the good folks here

[predawn]

i just get pissed off when some a$$hole poster posts OLD  news like it was he just discovered america ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

[deisman03]

Doesn't take much to get you OFF???  Do you really believe I didn't know it wasn't in the works???  I just couldn't find out how much progress is being made. They can and have made claims in the past that for one reason or another they haven't been able to live up to. It happens in most companies.  GLTA the good folks here

[deisman03]

thanx ns2014. I did see that. That's why I was under the impression they hadn't divested themselves of Solar.  I missed that it was delayed until the end of the fourth quarter.  thanx to sadie as well.  GLTA the good folks here. 

[predawn]

my opinion as the finacial statments reads there already mostly out of the solar business     As of the end of the third quarter of 2018, the trust has substantially wound down its solar business such that it does not expect a continued meaningful negative financial impact from the solar business in the fourth quarter of 2018 and beyond. A third party adviser was engaged

[rico91]

Yes, they are mostly out of the solar business. The biggest drain on the finances were the 2 sales and marketing offices. The cost of renting space, sales people , customer incentives and up front product costs were a losing proposition. That is all now gone. All that is left is Veresen assets in Califarnia, which they hope to have sold soon. Rico