WILLEMSTAD – Despite posting a profit in 2024, Aqualectra will not pay a dividend to its sole shareholder, the Government of Curaçao. The company’s Board of Supervisory Directors has advised against dividend distribution until accumulated losses on the balance sheet are fully eliminated.
As of the end of 2024, Aqualectra’s accumulated losses stood at approximately ANG 125 million, an improvement from the previous year but still significant. The board emphasized that retaining profits is necessary to strengthen equity and safeguard the utility’s financial resilience, particularly in light of large investment obligations and rising debt levels.
Long-term financial liabilities increased substantially due to new loan facilities used to fund infrastructure projects, with total financial liabilities rising to ANG 378 million. While management views this as manageable, it underscored the importance of maintaining strong cash flows and prudent financial oversight.
The board concluded that Aqualectra is now better positioned for long-term transformation, but cautioned that continued discipline will be required to balance investment needs, tariff stability and financial sustainability.