Consolidated Water Co. Ltd. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Consolidated Water Co. Ltd. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Consolidated Water Co. Ltd. (CWCO) filed a Annual Report (10-K) with the SEC on March 27, 2024. Consolidated Water Co. Ltd. filed its 2023 10-K report on March 27, 2024. The company's fiscal year ends on December 31st. Its principal executive offices are located at Regatta Office Park, Grand Cayman. The company was formerly known as Cayman Water Co. Ltd. The SIC code for the company is 4941 (Water Supply).

Why It Matters

For investors and stakeholders tracking Consolidated Water Co. Ltd., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — Consolidated Water Co. Ltd. shows low risk based on this filing. The filing is a standard 10-K annual report, which is routine for publicly traded companies and does not contain immediate red flags.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Consolidated Water Co. Ltd.'s performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-27 — Filing Date (Date of submission)
• 34383 — Value (Associated with a financial metric)
• 44297 — Value (Associated with a financial metric)
• 15322875 — Value (Associated with a financial metric)
• 15771545 — Value (Associated with a financial metric)

Key Players & Entities

• Consolidated Water Co. Ltd. (company) — Filer name
• 0000928340 (company) — Central Index Key
• 4941 (company) — Standard Industrial Classification
• Grand Cayman (company) — Business Address City
• Cayman Water Co Ltd (company) — Former Company Name

FAQ

Industry Context

Consolidated Water Co. Ltd. operates in the water supply industry, providing essential utility services.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the business description and risk factors for operational and market insights.
3. Check for any executive compensation details or significant corporate actions mentioned.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-27: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial processing of the 2023 10-K filing; comparison to prior filings would require access to those documents.

Key Financial Figures

• $0.60 — nge on which registered Common Stock , $0.60 Par Value CWCO The NASDAQ Stock Mar
• $ — n of Cayman Island dollars (CI$) into US$, as determined by the Cayman Islands Mo
• $1.20 — y, has been fixed since April 1974 at US$1.20 per CI$1.00. The exchange rate for con
• $1.00 — fixed since April 1974 at US$1.20 per CI$1.00. The exchange rate for conversion of B

Filing Documents

• cwco-20231231x10k.htm (10-K) — 2596KB
• cwco-20231231xex4d1.htm (EX-4.1) — 11KB
• cwco-20231231xex19.htm (EX-19) — 1327KB
• cwco-20231231xex21d1.htm (EX-21.1) — 19KB
• cwco-20231231xex23d1.htm (EX-23.1) — 5KB
• cwco-20231231xex31d1.htm (EX-31.1) — 11KB
• cwco-20231231xex31d2.htm (EX-31.2) — 11KB
• cwco-20231231xex32d1.htm (EX-32.1) — 6KB
• cwco-20231231xex32d2.htm (EX-32.2) — 6KB
• cwco-20231231xex97.htm (EX-97) — 41KB
• cwco-20231231x10k003.jpg (GRAPHIC) — 51KB
• 0001558370-24-004095.txt (&nbsp;) — 14402KB
• cwco-20231231.xsd (EX-101.SCH) — 86KB
• cwco-20231231_cal.xml (EX-101.CAL) — 90KB
• cwco-20231231_def.xml (EX-101.DEF) — 377KB
• cwco-20231231_lab.xml (EX-101.LAB) — 576KB
• cwco-20231231_pre.xml (EX-101.PRE) — 565KB
• cwco-20231231x10k_htm.xml (XML) — 2677KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 22 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 25 PART II 25 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. [Reserved] 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A. Quantitative and Qualitative Disclosure about Market Risk 40 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 75 Item 9A.

Controls and Procedures

Controls and Procedures 75 Item 9B. Other Information 77 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 77 PART III 77 Item 10. Directors, Executive Officers and Corporate Governance 77 Item 11.

Executive Compensation

Executive Compensation 77 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 77 Item 13. Certain Relationships and Related Transactions, and Director Independence 78 Item 14. Principal Accounting Fees and Services 78 PART IV 78 Item 15. Exhibits, Financial Statement Schedules 78

SIGNATURES

SIGNATURES 84 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our future revenue, future plans, objectives, expectations and events, assumptions and estimates. Forward-looking statements can be identified by use of the words or phrases "will," "will likely result," "are expected to," "will continue," "estimate," "project," "potential," "believe," "plan," "anticipate," "expect," "intend," or similar expressions and variations of such words. Statements that are not historical facts are based on our current expectations, beliefs, assumptions, estimates, forecasts and projections for our business and the industry and markets related to our business. The forward-looking statements contained in this report are not guarantees of future performance and involve assumptions and certain risks and uncertainties which are difficult to predict. Actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect these actual outcomes and results include, without limitation: tourism and weather conditions in the areas we serve ; the economic, political and social conditions of each country in which we conduct or plan to conduct business; our relationships with the government entities and other customers we serve; regulatory matters, including resolution of the negotiations for the renewal of our retail license on Grand Cayman; our ability to successfully enter new markets; and other factors, including those "Risk Factors" set forth under Part I, Item 1A. "Risk Factors" in this Annual Report. The forward-looking statements in this Annual Report speak as of its date. We expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained

BUSINESS

BUSINESS Overview Through our subsidiaries and affiliate, we provide the following services to our customers in the Cayman Islands, The Bahamas, the United States and the British Virgin Islands: Retail Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to end-users, including residential, commercial and government customers in the Cayman Islands under an exclusive retail license issued by the Cayman Islands government to provide water in two of the three most populated areas on Grand Cayman. In 2023, our retail water operations generated approximately 17% of our consolidated revenue. Bulk Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to government-owned distributors in the Cayman Islands and The Bahamas. In 2023, our bulk water operations generated approximately 19% of our consolidated revenue. Services Operations . We design, construct and sell water production and water treatment plants, and we manage and operate water production plants, and water treatment and reuse infrastructure for third parties. We also provide water related consulting services. In 2023, our services operations generated approximately 54% of our consolidated revenue. Manufacturing Operations. We manufacture and service a wide range of specialized and custom water-related products and systems applicable to commercial, municipal and industrial water production, supply and treatment. In 2023, our manufacturing operations generated approximately 10% of our consolidated revenue. Affiliate Operations. We own 50% of the voting rights and 43.53% of the equity rights of Ocean Conversion (BVI) Ltd., which produces and supplies bulk water to the British Virgin Islands Water and Sewerage Department. As of December 31, 2023, the number of water production and water treatment plants we and our affiliate operated in each country, and the production capacities

View Full Filing

View this 10-K filing on SEC EDGAR