interest, taxes, depreciation and amortization”. EBITDA does not have a standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. EBITDA is commonly used by management, investors and creditors in the calculation of ratios for assessing leverage and financial performance and is calculated as results from operating activities plus share of profit from equity accounted investees (before tax) plus depreciation and amortization (included in operations and general and administrative expense) and unrealized gains or losses on commodity-related derivative financial instruments.
Forward-Looking Statements & Information
This document contains certain forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of the “safe harbor” provisions of applicable securities legislation that are based on Pembina’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. Forward-looking statements are typically identified by terminology such as “expects”, “projects”, “will”, “anticipates”, “would”, “could”, “potential” and similar expressions suggesting future events or future performance.
By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Pembina believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this MD&A should not be unduly relied upon. These statements speak only as of the date of this document. In particular, this document contains forward-looking statements, including certain financial outlook, pertaining to, without limitation, the following: Pembina’s corporate strategy; planning, construction, capital expenditure estimates, schedules, expected capacity, incremental volumes, in service dates, and operations with respect to the Phase III Expansion; expectations regarding future demand for transportation services; expectations regarding supply and demand factors; potential revenue and cash flow enhancement; and future cash flows.
Various factors or assumptions are typically applied by Pembina in drawing conclusions or making the forecasts, projections, predictions or estimations set out in forward-looking statements based on information currently available to Pembina. These factors and assumptions include, but are not limited to: that counterparties will comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion of the Phase III Expansion; that Pembina will obtain required regulatory approvals on a timely basis; maintenance of operating margins; anticipated changes in interest rates, foreign currency exchange, inflation rates and commodity prices; ongoing utilization and future expansion, development, growth and performance of Pembina’s business and asset base; future demand for transportation services; future levels of oil and natural gas development in proximity to Pembina’s pipelines and other assets (which could be affected by, among other things, possible changes to applicable royalty and tax regimes); the amount of future liabilities related to environmental incidents; the availability of coverage under Pembina’s insurance policies (including in respect of Pembina’s business interruption insurance policy); future acquisitions, growth and growth potential in Pembina’s operations; additional throughput potential on additional connections and other initiatives on the Conventional Pipelines systems; expected Phase III Expansion start-up and construction dates; future dividends and taxation of dividends; future financing capability and sources; and negative credit rating adjustments.
The actual results of Pembina could differ materially from those anticipated in these forward-looking statements as a result of material risk factors including, but not limited to: the regulatory environment and decisions, and the inability to obtain required regulatory approvals; the impact of competitive entities and pricing; reliance on key relationships and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation or completion of third- party projects; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities including changes in tax laws and treatment, changes in royalty rates or increased environmental regulation; fluctuations in operating results; unexpected increases in capital costs for the Phase III expansion; adverse general economic and market conditions in Canada, North America and elsewhere, including changes in interest rates, foreign currency exchange rates, inflation rates and commodity prices; lower than anticipated results of operations and accretion from Pembina’s business initiatives; and the ability of Pembina to raise sufficient capital (or to raise capital on favourable terms) to complete future projects and satisfy future commitments.
These factors should not be construed as exhaustive. Unless required by law, Pembina does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements contained herein are expressly qualified by this cautionary statement. Readers are cautioned that management of Pembina approved the financial outlook contained herein as of the date of this press release. The purpose of the financial outlook contained herein is to give the reader an indication of the value to Pembina of the Phase III Expansion. Readers should be aware that the information contained in the financial outlook contained herein may not be appropriate for other purposes.
SOURCE Pembina Pipeline Corporation
For further information:
Investor Inquiries:
Scott Burrows
Vice President, Capital Markets
(403) 231-3156
1-855-880-7404
e-mail: investor-relations@pembina.com
or
Media Inquiries:
Laura Lunt
Manager, Regulatory Affairs & External Communications
(403) 231-7500
e-mail: FCNamao@pembina.com