Financial Results

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Platte River’s financial position remains stable. Favorable results were reported in 2016. Net income of $18.0 million exceeded the budget and the strategic financial plan target. Revenues were lower primarily due to unfavorable surplus sales market conditions. However, lower revenues were offset by below-budget operating expenses and favorable financing expenses as a result of the 2016 debt financing. Debt service coverage – the ratio of total net revenues to debt payments and a source of confidence for holders of Platte River bonds – was 1.78 times, well above the 1.10 times required by bond covenants.