Financial Performance

We remain focused on our main priorities as a business – to be North America’s leading energy delivery company and to generate long-term value for our investors. This requires that we deliver shareholder value and maintain profitability while performing in a socially and environmentally responsible way.

Here are Enbridge’s key financial highlights:

  • Earnings were $556.0 million ($1.65 per common share), compared with $645.3 million ($1.93 per share) in 2004. Adjusted operating earnings were $537.2 million ($1.59 per share), nine per cent higher than the previous year, reflecting strong performance in all of our company’s business segments.
  • Total return to shareholders in 2005 was 25.5 per cent compared with the Toronto Stock Exchange (TSX) return of 24.1 per cent and the S&P 500 Index of 4.9 per cent. We have delivered an annual average total shareholder return of 20.9 per cent per year over the last 10 years, compared with the TSX of 11 per cent and the S&P 500 Index of 9.1 per cent respectively over the same period. Over 50 years, Enbridge has provided a total average annual shareholder return of more than 13 per cent per year compared with the TSX of about 10 per cent.
  • We strengthened our balance sheet, improving our debt-to-capitalization ratio from 65.1 per cent at the end of 2004 to 64.5 per cent at the end of 2005. The consistently robust debt-to-capitalization ratio reflects the company’s continuing commitment to maintaining a strong balance sheet.

Investors and readers seeking more detailed information should refer to
Enbridge’s 2005 Annual Report.Weblink