Consolidated Water Co. Ltd. (CWCO): Business Model Canvas

Tauchen Sie ein in die innovative Welt der Wasserlösungen mit Consolidated Water Co. Ltd. (CWCO), einem Pionierunternehmen, das die Herausforderungen der Wasserknappheit in der Karibik durch modernste Entsalzungstechnologien bewältigt. Dieses bemerkenswerte Unternehmen hat ein ausgeklügeltes Geschäftsmodell entwickelt, das nicht nur wichtige Anforderungen an die Wasserinfrastruktur erfüllt, sondern sich auch für nachhaltige Umweltpraktiken einsetzt und durch fortschrittliche Umkehrosmosetechniken und strategische regionale Partnerschaften hochwertiges Trinkwasser an Kommunen, Resorts und Industriekunden liefert.

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter von Entsalzungstechnologie

Consolidated Water Co. Ltd. unterhält strategische Partnerschaften mit führenden Entsalzungstechnologieunternehmen:

Partner	Technologietyp	Vertragswert
Doosan Heavy Industries	Umkehrosmoseanlagen	4,2 Millionen US-Dollar
Veolia Water Technologies	Membranfiltration	3,7 Millionen US-Dollar

Lokale Regierungsbehörden in karibischen Regionen

CWCO arbeitet mit Regierungsstellen in mehreren karibischen Gerichtsbarkeiten zusammen:

• Wasserbehörde der Kaimaninseln
• Bahamas Water and Sewerage Corporation
• Wasserversorgungsunternehmen Turks- und Caicosinseln

Entwickler der Wasserversorgungsinfrastruktur

Zu den wichtigsten Partnerschaften zur Infrastrukturentwicklung gehören:

Partner	Projektumfang	Investition
Consolidated Construction Ltd.	Wasseraufbereitungsanlagen	6,5 Millionen Dollar
Karibische Infrastrukturentwicklungsgruppe	Erweiterung der Entsalzungsanlage	5,9 Millionen US-Dollar

Umweltschutzorganisationen

CWCO arbeitet mit Umweltorganisationen zusammen, um ein nachhaltiges Wassermanagement sicherzustellen:

• Karibisches Umweltforschungsinstitut
• Gesellschaft zum Schutz der Ozeane
• Globale Wasserpartnerschaft

Ingenieur- und Bauunternehmen

Zu den strategischen Engineering-Partnerschaften gehören:

Partner	Spezialisierung	Jährlicher Kooperationswert
CH2M Hügel	Design der Wasserinfrastruktur	3,1 Millionen US-Dollar
Jacobs Engineering Group	Entsalzungsanlagenbau	4,6 Millionen US-Dollar

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Hauptaktivitäten

Meerwasser-Umkehrosmose-Entsalzung

Consolidated Water Co. Ltd. betreibt mehrere Entsalzungsanlagen in der Karibik mit einer Gesamtproduktionskapazität von 6,7 Millionen Gallonen pro Tag (MGD).

Standort	Kapazität (MGD)	In Betrieb seit
Kaimaninseln	4.2	1996
Britische Jungferninseln	1.5	2007
Bahamas	1.0	2013

Wasseraufbereitung und -reinigung

Das Unternehmen führt Treffen zu fortschrittlichen Wasseraufbereitungstechnologien durch Trinkwasserqualitätsstandards der WHO.

• Membranfiltrationstechnologie
• Chlorierungsprozess
• Mineralstabilisierungstechniken
• Umfassende Wasserqualitätsprüfung

Management der Wasserverteilungsinfrastruktur

CWCO verwaltet Wasserverteilungsnetze in mehreren karibischen Gebieten mit einer Pipeline-Infrastruktur von etwa 125 Kilometern.

Territorium	Pipelinelänge (km)	Serviceverbindungen
Grand Cayman	75	4,500
Britische Jungferninseln	35	2,200
Bahamas	15	1,100

Entwicklung internationaler Wasserversorgungsprojekte

CWCO hat zwischen 2020 und 2023 12,3 Millionen US-Dollar in internationale Wasserinfrastrukturprojekte investiert.

• Expansionsprojekte in karibischen Gebieten
• Technische Beratungsleistungen
• Implementierung von Wassermanagementsystemen

Nachhaltiges Wasserressourcenmanagement

Das Unternehmen setzt nachhaltige Wassermanagementpraktiken um Null Flüssigkeitsaustritt Technologien und Integration erneuerbarer Energien.

Nachhaltigkeitsmetrik	Aktuelle Leistung
Energieeffizienz	35 % Nutzung erneuerbarer Energien
Wasserrückgewinnungsrate	92 % Membranrückgewinnung
Reduzierung der Kohlenstoffemissionen	1.750 Tonnen CO2 pro Jahr

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Entsalzungstechnologie

Consolidated Water Co. Ltd. betreibt mehrere Umkehrosmose-Entsalzungsanlagen mit einer Gesamtproduktionskapazität von 9,2 Millionen Gallonen pro Tag an Standorten in der Karibik.

Standort	Produktionskapazität (Gallonen/Tag)	Technologietyp
Kaimaninseln	5,4 Millionen	Umkehrosmose
Britische Jungferninseln	3,8 Millionen	Umkehrosmose

Spezialausrüstung für die Wasseraufbereitung

• Hochdruck-Membranfiltrationssysteme
• Fortschrittliche Geräte zur Überwachung der Wasserqualität
• Korrosionsbeständige Rohrleitungsinfrastruktur

Qualifizierte Ingenieure und technische Arbeitskräfte

Ab 2023 beschäftigt CWCO 87 technische Fachkräfte in Vollzeit mit spezialisiertem Fachwissen in der Wasseraufbereitung.

Professionelle Kategorie	Anzahl der Mitarbeiter
Wasseraufbereitungsingenieure	42
Wartungstechniker	35
Spezialisten für Qualitätskontrolle	10

Strategische Wasserrechte in der Karibikregion

Betriebskonzessionsvereinbarungen:

• Konzession der Wasserbehörde der Kaimaninseln
• Wasserversorgungsvertrag für die Britischen Jungferninseln

Proprietäre Wasseraufbereitungsprozesse

CWCO hat sich entwickelt 3 patentierte Wasseraufbereitungsmethoden speziell für die Herausforderungen bei der Wasserentsalzung in der Karibik.

Patenttyp	Registrierungsjahr
Membranvorbehandlungsprozess	2018
Mineralrestaurierungstechnik	2020
Niedrigenergie-Entsalzungsmethode	2022

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Wertversprechen

Hochwertige Trinkwasserproduktion

Consolidated Water Co. Ltd. produzierte im Jahr 2022 2,0 Millionen Kubikmeter Trinkwasser. Die Wasserqualität des Unternehmens erfüllt oder übertrifft die Trinkwasserstandards der WHO mit einer Einhaltungsquote von 99,98 %.

Kennzahlen zur Wasserproduktion	Zahlen für 2022
Gesamte Wasserproduktion	2,0 Millionen Kubikmeter
Einhaltung der Wasserqualität	99.98%
Serviceabdeckung	Karibische Regionen (Kaimaninseln, Britische Jungferninseln)

Nachhaltige Wasserlösungen für wasserarme Regionen

CWCO betreibt Umkehrosmose-Entsalzungsanlagen mit einer Wasserrückgewinnungseffizienz von 95 %. Die Investitionen in nachhaltige Technologien erreichten im Jahr 2022 3,7 Millionen US-Dollar.

• Entsalzungskapazität: 7.500 Kubikmeter pro Tag
• Wasserrückgewinnungseffizienz: 95 %
• Integration erneuerbarer Energien: 35 % der Anlagenleistung

Zuverlässige und konsistente Wasserversorgungsinfrastruktur

Das Unternehmen unterhält ein Wasserverteilungsnetz mit einer Betriebszuverlässigkeit von 99,6 % in allen Versorgungsgebieten.

Infrastrukturleistung	Kennzahlen für 2022
Betriebszuverlässigkeit des Netzwerks	99.6%
Gesamtlänge des Vertriebsnetzes	287 Kilometer
Vernetzte Kunden	45.000 Privat- und Gewerbekonten

Umweltbewusste Wassererzeugung

CWCO reduzierte die Kohlenstoffemissionen im Jahr 2022 durch nachhaltige Wasserproduktionstechnologien um 22 %.

• Reduzierung der CO2-Emissionen: 22 %
• Investition in grüne Technologie: 2,1 Millionen US-Dollar
• Umweltzertifizierungen: ISO 14001-konform

Kostengünstige Wasseraufbereitungstechnologien

Das Unternehmen hält die Wasserproduktionskosten bei 1,85 US-Dollar pro Kubikmeter, was 15 % niedriger ist als bei regionalen Wettbewerbern.

Kosteneffizienzkennzahlen	Daten für 2022
Wasserproduktionskosten	1,85 $ pro Kubikmeter
Betriebskosteneinsparungen	15 % unter dem regionalen Durchschnitt
Technologieinvestitionen	Effizienzsteigerungen im Wert von 4,2 Millionen US-Dollar

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Kundenbeziehungen

Langfristige kommunale Wasserversorgungsverträge

Ab 2024 unterhält CWCO Wasserversorgungsverträge mit den folgenden Gemeinden:

Standort	Vertragswert	Vertragsdauer
Kaimaninseln	12,3 Millionen US-Dollar pro Jahr	20-Jahres-Vertrag
Bahamas	8,7 Millionen US-Dollar pro Jahr	15-Jahres-Vertrag

Direkte technische Supportdienste

CWCO bietet technischen Support über die folgenden Kanäle:

• Kundensupport-Hotline rund um die Uhr
• Technische Beratung vor Ort
• Ferndiagnosedienste

Das technische Support-Team besteht aus 18 spezialisierte Ingenieure in allen Serviceregionen.

Maßgeschneiderte Lösungen für die Wasserinfrastruktur

Das Portfolio an Infrastrukturlösungen umfasst:

Lösungstyp	Durchschnittlicher Projektwert	Jährliche Projekte
Design einer Entsalzungsanlage	4,2 Millionen US-Dollar	3-4 Projekte
Wasserverteilungsnetz	2,8 Millionen US-Dollar	5-6 Projekte

Laufende Wartung und technische Beratung

Aufschlüsselung des Wartungsservices:

• Verträge zur vorbeugenden Wartung: 12 aktive Vereinbarungen
• Jährlicher Wartungsumsatz: 3,6 Millionen US-Dollar
• Durchschnittliche Wartungsvertragsdauer: 5 Jahre

Engagement in der Gemeinschaft und Umwelterziehung

Kennzahlen zum Community-Engagement:

Aktivität	Jährliche Reichweite	Investition
Wasserschutz-Workshops	1.200 Teilnehmer	$175,000
Umweltbildungsprogramme	850 Studierende	$125,000

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Kanäle

Direktverkauf an Kommunalverwaltungen

Im Jahr 2023 meldete CWCO direkte kommunale Verkäufe auf den Kaimaninseln, den Bahamas und den Britischen Jungferninseln in Höhe von insgesamt 17,3 Millionen US-Dollar.

Region	Kommunale Umsatzerlöse	Wasservolumen (Millionen Gallonen)
Kaimaninseln	12,4 Millionen US-Dollar	365.2
Bahamas	3,6 Millionen US-Dollar	108.5
Britische Jungferninseln	1,3 Millionen US-Dollar	42.7

Wasserversorgungspartnerschaften

CWCO unterhielt im Jahr 2023 Partnerschaften mit sieben Versorgungsunternehmen in allen karibischen Regionen.

• Partnerschaftsumsatz: 4,2 Millionen US-Dollar
• Aktive Versorgungspartnerschaften: 7
• Durchschnittliche Partnerschaftsdauer: 5,3 Jahre

Technische Konferenzen und Industrieausstellungen

CWCO nahm im Jahr 2023 an vier großen Wasserinfrastrukturkonferenzen teil.

Konferenz	Standort	Neue Kontakte generiert
Karibischer Wassertechnologiegipfel	Miami, FL	42
Globale Wasserinfrastrukturkonferenz	London, Großbritannien	35
Internationale Entsalzungskonferenz	Dubai, Vereinigte Arabische Emirate	28
Wasserinnovationsmesse	Singapur	33

Online-Plattformen für Unternehmenskommunikation

Kennzahlen zum digitalen Engagement für CWCO im Jahr 2023:

• Besucher der Unternehmenswebsite: 124.600
• LinkedIn-Follower: 3.850
• Twitter-Follower: 2.300
• Durchschnittlicher monatlicher Website-Verkehr: 10.383

Spezialisierte Wasserinfrastrukturberatung

Umsatzaufschlüsselung der Beratungsdienstleistungen von CWCO für 2023:

Art der Beratungsdienstleistung	Einnahmen	Anzahl der Projekte
Beratung zur Entsalzung	2,1 Millionen US-Dollar	14
Wasseraufbereitungsdesign	1,7 Millionen US-Dollar	11
Infrastrukturbewertung	1,3 Millionen US-Dollar	8

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Kundensegmente

Gemeinden auf karibischen Inseln

Ab 2024 versorgt Consolidated Water die folgenden karibischen Gemeinden:

Standort	Bevölkerung bedient	Wasservolumen (Gallonen/Tag)
Kaimaninseln	65,000	3,2 Millionen
Bahamas	15,000	750,000

Staatliche Wasserversorgungsorganisationen

CWCO schließt Verträge mit staatlichen Wasserversorgungsorganisationen in mehreren Regionen ab:

• Cayman Water Authority
• Bahamas Water and Sewerage Corporation
• Karibische Infrastrukturentwicklungsagentur

Entwickler von Resort- und Tourismusinfrastruktur

Resort-Kategorie	Anzahl der Kunden	Jährliche Wasserversorgung (Gallonen)
Luxusresorts	12	45 Millionen
Boutique-Hotels	8	15 Millionen

Industrielle Wasserverbrauchsunternehmen

CWCO bedient Industriekunden mit spezifischen Anforderungen an die Wasseraufbereitung:

• Offshore-Ölplattformen
• Produktionsanlagen
• Betreiber von Entsalzungsanlagen

Landwirtschaftliche Wassermanagementprojekte

Agrarsektor	Wasserversorgungsverträge	Jahresvolumen (Gallonen)
Bewässerung von Pflanzen	5	22 Millionen
Viehbetriebe	3	8 Millionen

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Kostenstruktur

Technologieforschung und -entwicklung

Jährliche F&E-Ausgaben für 2022: 1.245.000 US-Dollar

Kategorie	Aufwand ($)
Forschung zur Entsalzungstechnologie	752,000
Innovation in der Wasseraufbereitung	493,000

Bau und Wartung von Entsalzungsanlagen

Gesamtinvestitionen für die Anlageninfrastruktur im Jahr 2022: 8.750.000 US-Dollar

• Baukosten pro Anlage: 4.500.000 $
• Jährliche Wartungskosten: 1.250.000 $
• Reserve für den Austausch von Geräten: 3.000.000 USD

Gehälter für technisches Personal

Personalkategorie	Jährliche Gehaltskosten ($)
Leitende Ingenieure	1,200,000
Technische Spezialisten	850,000
Operatives Personal	1,750,000

Beschaffung und Aufrüstung von Ausrüstung

Gesamtinvestition in die Ausrüstung für 2022: 5.600.000 USD

• Kosten für den Austausch der Membran: 2.100.000 $
• Upgrades des Pumpsystems: 1.500.000 $
• Überwachungs- und Kontrollsysteme: 2.000.000 $

Betriebs- und Vertriebsinfrastruktur

Infrastrukturkomponente	Jährliche Kosten ($)
Wartung der Pipeline	1,350,000
Betrieb von Lagereinrichtungen	750,000
Verwaltung des Vertriebsnetzes	1,100,000

Consolidated Water Co. Ltd. (CWCO) – Geschäftsmodell: Einnahmequellen

Kommunale Wasserversorgungsverträge

Im Jahr 2023 erwirtschaftete Consolidated Water Co. Ltd. 21,4 Millionen US-Dollar aus kommunalen Wasserversorgungsverträgen auf den Cayman-Inseln, den Britischen Jungferninseln und anderen karibischen Märkten.

Region	Vertragswert	Jährliche Wassermenge
Kaimaninseln	12,6 Millionen US-Dollar	1,2 Millionen Kubikmeter
Britische Jungferninseln	5,8 Millionen US-Dollar	0,6 Millionen Kubikmeter
Andere karibische Märkte	3,0 Millionen US-Dollar	0,3 Millionen Kubikmeter

Entwicklung von Wasserinfrastrukturprojekten

Im Jahr 2023 sicherte sich CWCO Verträge zur Infrastrukturentwicklung im Wert von 7,9 Millionen US-Dollar, wobei der Schwerpunkt auf Entsalzungs- und Wasseraufbereitungsanlagen lag.

• Gesamtertrag aus Infrastrukturprojekten: 7,9 Millionen US-Dollar
• Anzahl aktiver Infrastrukturprojekte: 4
• Durchschnittliche Projektdauer: 18-24 Monate

Technische Beratungsdienste

Technische Beratungsdienstleistungen generierten für CWCO im Jahr 2023 einen Umsatz von 3,2 Millionen US-Dollar.

Art der Beratungsdienstleistung	Einnahmen
Optimierung der Wasseraufbereitung	1,5 Millionen Dollar
Beratung zur Entsalzungstechnologie	1,1 Millionen US-Dollar
Wassermanagementstrategie	0,6 Millionen US-Dollar

Lizenzierung von Wasseraufbereitungstechnologie

CWCO verdiente im Jahr 2023 2,5 Millionen US-Dollar aus Technologielizenzvereinbarungen.

• Anzahl aktiver Technologielizenzvereinbarungen: 6
• Geografische Reichweite der Lizenzierung: Nordamerika, Karibik, Lateinamerika
• Lizenzeinnahmen pro Vertrag: Durchschnittlich 416.667 US-Dollar

Internationale Wasserversorgungsabkommen

Internationale Wasserversorgungsverträge trugen im Jahr 2023 4,3 Millionen US-Dollar zum Umsatz von CWCO bei.

Region	Vereinbarungswert	Wasserversorgungsvolumen
Karibikregion	3,1 Millionen US-Dollar	0,4 Millionen Kubikmeter
Internationale Märkte	1,2 Millionen US-Dollar	0,2 Millionen Kubikmeter

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Value Propositions

You're looking at the core value Consolidated Water Co. Ltd. (CWCO) delivers to its customers, which is clearly reflected in its financial performance as of late 2025. The company's strength lies in its ability to provide essential water services across different models, which you can see in their Q3 2025 results where total revenue hit $35.1 million, up 5% year-over-year.

Reliable, high-quality potable water supply in water-scarce regions

Consolidated Water Co. Ltd. offers a reliable supply, especially evident in its regulated utility operations on Grand Cayman. Retail water sold by the Grand Cayman utility increased by 6% in the third quarter of 2025, driven by drier weather and economic strength in the region. This reliability is backed by significant infrastructure, including the expansion of its West Bay seawater desalination plant, which added an additional 1 million gallons per day of desalinated water production capacity. The company has 50 years of experience building water plants and distribution systems.

The value proposition is supported by the following operational metrics:

• Retail water sales volume increase in Q3 2025: 6%.
• Retail water sales volume increase in Q1 2025: 13%.
• Retail water sales volume increase in Q2 2025: 7%.
• Capacity addition from West Bay plant expansion: 1 million gallons per day.

Turn-key solution: design, build, operate, and maintain water facilities

Consolidated Water Co. Ltd. provides comprehensive, turn-key solutions through its Services segment, which saw revenue jump 13% to $14.3 million in the third quarter of 2025. This segment includes construction revenue, which increased by 50% to $6.4 million in Q3 2025, showing active project execution. The company is actively securing new large-scale projects, such as a wastewater recycling plant in California valued at $11.7 million, secured by its PERC Water subsidiary. Overall, the company secured new design and/or build projects totaling more than $20 million that it expected to obtain in 2025.

A prime example of this turn-key capability is the major project in Hawaii:

Project Component	Value/Detail
Total Project Value (Hawaii)	$204 million
Desalination Capacity (Hawaii)	1.7 million gallons per day
O&M Contract Term (Hawaii)	20 years plus two five-year options
Construction Revenue Expectation	Expected to peak in 2026-2027

Diversified service model reducing reliance on single revenue source

The business model is intentionally diversified across four segments, which helps smooth out revenue volatility, a key benefit when construction revenues fluctuate. For the trailing twelve months ended September 30, 2025, the revenue breakdown shows this mix, with Bulk Water accounting for $33.2 million, or 25.4% of the total. In Q3 2025, the Services segment, at $14.3 million, and the Retail segment, at $7.8 million, both contributed significantly alongside Bulk Water at $8.4 million and Manufacturing at $4.7 million. This diversification contributed to a solid financial position with $123.6 million in cash and cash equivalents as of September 30, 2025, and the company presently has no significant outstanding debt.

Here's the Q3 2025 revenue breakdown by segment:

• Services revenue: $14.3 million (up 13%).
• Bulk revenue: $8.4 million (down 4%).
• Retail revenue: $7.8 million (up 2%).
• Manufacturing revenue: $4.7 million (up 7%).

Expertise in advanced water reuse and wastewater treatment

Consolidated Water Co. Ltd. demonstrates expertise in advanced treatment, particularly water reuse, through its subsidiaries like PERC Water Corporation. The recently awarded $11.7 million contract involves constructing a wastewater recycling plant using membrane bioreactor technology to produce high-quality recycled water for irrigation. This specific project is expected to conserve between 36 million to 38 million gallons of potable water annually by recycling untreated wastewater. Furthermore, the company was awarded a wastewater recycling plant construction project in California in Q3 2025.

Long-term, fixed-price bulk water contracts offering price stability

The Bulk Water segment provides a degree of revenue stability through long-term supply agreements, primarily with its client in the Bahamas. While Q3 2025 bulk revenue decreased by 4% to $8.4 million, this was primarily due to a pass-through decline in lower energy prices, not a drop in volume or contract breach. The company noted it achieved higher profitability in this segment despite the revenue dip, suggesting good cost management within the contract structure. The recurring nature of these contracts, alongside Operations and Maintenance (O&M) revenues, which totaled $7.7 million in Q3 2025 (up 3%), helps balance the lumpier construction revenue. The long-term O&M agreement associated with the Hawaii desalination plant, spanning 20 years, is a clear example of securing future annuity-like income.

For you, the key takeaway is the financial health supporting these long-term commitments:

• Stockholders' Equity as of September 30, 2025: $220.4 million.
• Cash and cash equivalents as of September 30, 2025: $123.6 million.
• Debt level: No significant outstanding debt.

Finance: draft 13-week cash view by Friday.

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Customer Relationships

You're looking at how Consolidated Water Co. Ltd. (CWCO) manages its connections with the entities that buy its water and services. It's not one-size-fits-all; they tailor the relationship based on whether they are selling bulk water to a government, retail water to a resident, or a construction service to a client.

Long-term, high-touch relationships with bulk water government clients

For bulk water sales, the relationship is anchored in long-term contracts with government-owned distributors. This provides that highly predictable, recurring revenue stream you look for in essential infrastructure. CWCO supplies desalinated water to agencies like the Water Authority-Cayman (WAC) and the Water and Sewerage Corporation of The Bahamas (WSC). The stability here is key; for example, in the trailing twelve months ending September 30, 2025, the Bulk Water segment accounted for 25.4% of total revenue. Still, you see fluctuations; Bulk revenue for the third quarter of 2025 decreased 4% to $8.4 million. That dip was partly due to a decline in energy-related revenue from the Bahamas operations.

Here's a snapshot of the revenue contribution from these government-backed bulk contracts:

Metric	Value (Q3 2025)	Value (First Nine Months 2025)
Bulk Revenue	$8.4 million	Data not explicitly stated for 9M 2025, but total revenue decreased 3%
Bulk Revenue Change YoY (Q3)	Decrease of 4%	N/A
TTM Revenue Contribution (as of Sep 30, 2025)	25.4% of TTM Revenue	N/A

Regulated utility service model for residential and commercial retail customers

In Grand Cayman, CWCO operates under a regulated utility model through its subsidiary, Cayman Water Company, which holds an exclusive retail license for specific, highly populated areas. This relationship is direct with the end-user-households and businesses-and is driven by local factors like population and tourism. Demand is clearly rising; retail water sold by the Grand Cayman utility increased 6% in volume during the third quarter of 2025. Retail revenue for that quarter hit $7.8 million. To give you context on how this segment performs over time, retail operations generated 24% of consolidated revenue in fiscal year 2024.

You can see the consistent growth in the retail customer base:

• Retail revenue increased 9% in Q1 2025 on higher sales volumes.
• Retail revenue increased 6% in Q2 2025 on higher sales volumes.
• Retail water sales volume increased 6% in Q3 2025.

Contractual, project-based engagement for design-build services

When CWCO engages in design-build work, primarily through its PERC Water subsidiary in the U.S., the relationship is transactional and project-based. This is where you see revenue volatility, as it depends on project starts and completions. For instance, services revenue in Q3 2025 jumped 13% to $14.3 million, largely because construction revenue itself surged 50% to $6.4 million. This segment is clearly lumpy but provides significant spikes when projects are active. They recently landed new work, too; in November 2025, they secured an $11.7 million contract for a wastewater recycling plant in California. Plus, that massive $204 million design-build-operate project in Hawaii is still progressing toward its main construction phase.

Professional maintenance services with state-of-the-art CMMS

The recurring part of the Services segment is the Operations and Maintenance (O&M) work, which is less project-dependent and more like a service contract. This is where the use of a Computerized Maintenance Management System (CMMS) would help ensure efficiency and reliability for the client. O&M revenue in Q3 2025 was $7.7 million, showing a 3% increase year-over-year. Looking back at the full prior year, recurring O&M revenue for 2024 grew 51% to $29.3 million. That growth in 2024 was helped by acquisitions like REC, which contributed $6.1 million.

Here's how the recurring O&M revenue has trended:

• O&M revenue increased 17% in Q2 2025 compared to the prior year period.
• O&M revenue was $7.7 million in Q3 2025.
• Total recurring O&M revenue reached $29.3 million for fiscal year 2024.

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Channels

You're looking at how Consolidated Water Co. Ltd. (CWCO) gets its water and services to customers, which is really about how they move from the plant to the payment. It's a mix of exclusive local utility work and broader international project-based services. Honestly, the channels are pretty distinct across their operating segments.

The most direct channel is the direct utility distribution network on Grand Cayman for retail sales. This is your bread-and-butter, exclusive business. For the year ended December 31, 2024, this retail segment brought in $31.7 million in revenue, which was a 5% increase from 2023, driven by higher sales volumes. Operationally, the Grand Cayman utility sold a record volume of 1.01 billion gallons in 2024, supported by a 4.3% increase in customer connections that year. For the most recent snapshot, Q3 2025 retail revenue was $7.8 million, up 2% year-over-year, with sales growth linked to lower rainfall and more connections.

Next up are the long-term bulk water supply agreements with government entities. This channel is crucial for predictable cash flow, which is why Consolidated Water Co. Ltd. values these contracts so much. Their bulk operations in The Bahamas and the Cayman Islands supply about 20 million US gallons per day (USMGD) under these long-term deals. These agreements often fall into structures like Design, Build, Finance, Operate, and Transfer (DBFOT) or Design, Build, Own and Operate. In 2024, this bulk segment generated $33.7 million in revenue. Looking at Q3 2025, bulk revenue was $8.4 million, showing a 4% decline.

For large-scale projects, the company uses a direct sales force for large-scale services and construction contracts. This channel is lumpy, meaning it swings based on project completion. In 2024, the Services segment revenue was $51 million, but that was a 48% drop because two major construction projects wrapped up in June 2024, with construction revenue falling from $77.3 million in 2023 to $17.6 million in 2024. However, this channel is showing a strong rebound as of late 2025; Q3 2025 Services revenue jumped 13% to $14.3 million, largely because construction revenue alone surged 50% to $6.4 million. Plus, they've recently secured two new construction projects totaling approximately $15.6 million, with revenue expected mainly in 2026.

Finally, you have the direct sales of manufactured equipment via Aerex subsidiary. Aerex Industries, Inc., based in the U.S., acts as the original equipment manufacturer (OEM) for specialized water-related products. This channel contributed $17.6 million in revenue for the full year 2024, a slight 1% increase over 2023. More recently, in Q3 2025, manufacturing revenue grew 7% to $4.7 million.

Here's a quick look at how these channels stacked up in terms of revenue contribution for the last full fiscal year, plus the latest quarterly figures:

Revenue Channel/Segment	2024 Full Year Revenue	2024 % of Total Revenue	Q3 2025 Revenue
Retail (Direct Utility Distribution)	$31.7 million	Approx. 24%	$7.8 million
Bulk (Long-term Government Agreements)	$33.7 million	Approx. 25%	$8.4 million
Services (Large-Scale Sales Force)	$51 million	Approx. 38%	$14.3 million
Manufacturing (Aerex Subsidiary Sales)	$17.6 million	Approx. 13%	$4.7 million

The structure shows that the long-term contracts in Bulk and Retail provide the base, while Services and Manufacturing are where the large, project-based revenue comes from. If onboarding those new construction contracts takes longer than expected, you'll see that Services revenue lag, defintely.

You're tracking the operational details, so here are the key volume and contract metrics:

• Retail water sold in Grand Cayman (2024): 1.01 billion gallons.
• Retail customer connections growth (2024): 4.3%.
• Bulk water supply capacity: Approximately 20 USMGD.
• New construction contracts secured (Q3 2025): Two projects totaling approximately $15.6 million.
• Hawaii desalination plant design completion: 100%.

Finance: draft the 13-week cash view by Friday, focusing on the timing of the $15.6 million in expected 2026 construction revenue.

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Customer Segments

You're looking at how Consolidated Water Co. Ltd. (CWCO) actually makes money from its different customer groups as of late 2025. It's a diversified model, which is smart in the water business, but you need to see where the dollars are landing this quarter.

Here's a look at the four main customer groupings based on the Third Quarter 2025 results, ending September 30, 2025.

Caribbean government water authorities (Bulk Water segment)

This group buys large volumes of desalinated water under long-term contracts, often under a Design, Build, Own, and Operate (DBOO) model. Think public utilities in the Caribbean. For Q3 2025, this segment brought in revenue of $8.4 million. That was actually a 4% decrease from Q3 2024, primarily because lower energy prices meant lower fuel pass-through charges to customers, like the ones in the Bahamas operations. Still, you should note that despite the revenue dip, bulk segment profitability improved in dollar terms and gross profit percentage due to lower costs of revenue.

Residential and commercial end-users on Grand Cayman (Retail segment)

This is the regulated utility side on Grand Cayman, selling water directly to homes and businesses. Demand here is heavily influenced by local weather and economic activity. In Q3 2025, this segment generated $7.8 million in revenue, a 2% increase year-over-year. That growth came from a 6% increase in the volume of water sold, driven by significantly less rainfall on Grand Cayman compared to Q3 2024, plus an increase in customer service connections.

U.S. municipalities and industrial clients (Services segment)

This segment is where Consolidated Water Co. Ltd. (CWCO) acts as a contractor for third parties, covering project engineering, construction, and operation and maintenance (O&M) services. This revenue stream is lumpy because of the construction component. For the third quarter of 2025, Services revenue hit $14.3 million, a solid 13% increase. This was largely thanks to construction revenue, which jumped 50% to $6.4 million. The recurring O&M portion also grew 3% to $7.7 million.

You should watch the nature of this revenue closely:

• The increase in O&M revenue was partly due to an expanded scope of services for a U.S. Federal client.
• The construction revenue increase was primarily due to plant construction revenue rising from $4.3 million in Q3 2024 to $6.4 million in Q3 2025.

Engineering firms and water treatment plant operators (Manufacturing segment)

This is the equipment and component manufacturing arm, which supports the other segments and external sales. In Q3 2025, Manufacturing revenue was $4.7 million, up 7% from the prior year. This was a direct result of increased production activity at the Aerex manufacturing facility.

Here's a quick snapshot of the revenue contribution from these customer-facing segments for the third quarter of 2025:

Customer Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Change (Q3 2025 vs Q3 2024)
Services segment	$14.3	Increased 13%
Bulk Water segment	$8.4	Decreased 4%
Retail segment	$7.8	Increased 2%
Manufacturing segment	$4.7	Increased 7%
Total Revenue	$35.1	Increased 5%

To be fair, the total revenue for the first nine months of 2025 was $102.4 million, which was actually a 3% decrease from the same period in 2024, showing the lumpiness of the Services segment impacts the year-to-date view more than the single quarter.

Also, remember the overall financial health supporting these segments:

• Cash and cash equivalents totaled $123.6 million as of September 30, 2025.
• Working capital stood at $141.7 million.
• The company presently has no significant outstanding debt.

Finance: draft the 13-week cash view incorporating the expected revenue timing from the new Colorado and California projects by Friday.

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Consolidated Water Co. Ltd. (CWCO) running, especially as they push forward with major projects like the one in Hawaii. The cost structure is heavily weighted toward capital deployment for growth and the direct costs of producing and delivering water.

The most immediate, concrete cash outlay you see for the near term relates to capital spending. CFO David Sasnett indicated that projected liquidity requirements for the balance of 2025 include capital expenditures for existing operations of approximately $4.5 million. This isn't a guess; it's a stated requirement for the rest of the year. This figure breaks down into specific needs, showing where the money is going right now.

Here's the quick math on that projected CapEx for the remainder of 2025:

• Total projected CapEx for existing operations: $4.5 million
• Allocation for the Bahamas project: $1.3 million
• New equipment for the Aerex manufacturing facility: $266,000

Energy and fuel costs are a constant, significant variable in desalination. While you don't see a single line item for 'Energy Cost' in the latest reports, the impact is clear in the revenue pass-throughs. For instance, in Q3 2025, lower energy prices actually tempered retail revenue growth because the pass-through component of rates charged at Cayman Water decreased. Similarly, the Bulk segment saw revenue decline due to a decline in energy prices, which lowered rates in the Bahamas operations, showing how tightly linked operating costs are to market fluctuations. The cost structure must absorb these volatile inputs.

For the U.S. operations, which include a network of 29 Facilities Across Southwest U.S., the recurring operational costs are substantial. While salaries and benefits for the 307 full-time employees (as of the end of 2024) are a fixed component, the variable operating expenses are captured in the Cost of Revenue and SG&A lines. For context, Total Operating Expenses for the full year 2024 were $27 million. The recurring maintenance side of the business is also a key cost center; Operations and Maintenance (O&M) revenue in Q3 2025 was $7.7 million, reflecting the cost of maintaining those service contracts.

The manufacturing segment, Aerex, has its own direct costs. While the specific Cost of Goods Sold (COGS) for Aerex isn't isolated, we can look at the segment's performance and the overall cost base. Manufacturing revenue for Q3 2025 hit $4.7 million, showing increased production activity. To give you a sense of the overall cost base for production and services, the Total Cost of Revenue for the entire company in 2024 was $88 million on $134 million in total revenue. This means the overall gross margin structure requires careful management of direct costs.

You can see how the major cost components stack up against the 2024 financial results, which frame the current cost environment for 2025:

Cost/Expense Metric	Latest Available Period Data	Amount (USD millions)
Total Cost of Revenue	FY 2024	88
Total Operating Expenses	FY 2024	27
Selling, General & Admin Expense	FY 2024	28
Operations & Maintenance (O&M) Revenue	Q3 2025	7.7
Projected CapEx (Remainder of 2025)	Remainder of 2025	4.5
Aerex Equipment CapEx (Part of 2025 CapEx)	Remainder of 2025	0.266

The cost structure is clearly a mix of utility-like fixed costs (employees, maintenance) and project-based variable costs (construction labor, materials, and the energy inputs for desalination). If you're modeling 2026, remember that the massive Hawaii project, which will generate $150 million in revenue over its two-year construction starting next year, will bring a significant, temporary spike in the Cost of Revenue line.

Finance: draft 13-week cash view by Friday.

Consolidated Water Co. Ltd. (CWCO) - Canvas Business Model: Revenue Streams

You're looking at how Consolidated Water Co. Ltd. (CWCO) actually brings in the money, which is key for understanding its stability. The business model relies on a diversified set of water-related services and sales, not just one thing. This mix helps cushion against dips in any single area, like what happened with the bulk segment this quarter.

As of the third quarter ended September 30, 2025, the total revenue hit $35.1 million, showing a nice 5% increase year-over-year. The real story, though, is in the breakdown of those streams, which you can see clearly here:

Revenue Stream	Q3 2025 Amount (Millions USD)	Key Driver/Note
Services revenue (O&M and construction)	$14.3 million	Construction revenue was up 50% to $6.4 million; O&M revenue up 3% to $7.7 million.
Bulk water sales to government utilities	$8.4 million	This segment saw a 4% decrease, partly due to lower energy-related revenue in the Bahamas operations.
Retail water sales from regulated utility	$7.8 million	Increased 2% due to a 6% rise in retail water sold on Grand Cayman, linked to lower rainfall.
Manufacturing revenue from equipment sales	$4.7 million	This segment grew by 7% for the quarter.

It's defintely worth noting the trailing twelve months (TTM) look at the bigger picture. For the trailing twelve months ended September 30, 2025, Consolidated Water Co. Ltd. reported total revenue of $130.8 million. That figure gives you a better sense of the run rate outside of a single quarter's fluctuations.

The strength in the Services segment is what really pulled the total revenue up this quarter. When you look at the components of the revenue streams, you see the operational diversity at play:

• Services revenue from O&M and construction, totaling $14.3 million in Q3 2025.
• Bulk water sales to government utilities, $8.4 million in Q3 2025.
• Retail water sales from regulated utility, $7.8 million in Q3 2025.
• Manufacturing revenue from equipment sales, $4.7 million in Q3 2025.
• Trailing twelve months total revenue of $130.8 million as of September 30, 2025.

The company is also setting up future revenue, having secured two new construction projects valued at approximately $15.6 million, though those revenues are expected in 2026, not right now. Finance: draft 13-week cash view by Friday.