Exhibit 99.1

Consolidated Water Reports Q2 2019 Results; Revenues up 22% to $18.3 million, Net Income up 13% to $2.5 million or $0.16 per Share

GEORGE TOWN, Cayman Islands, August 12, 2019 -- Consolidated Water Co. Ltd. (Nasdaq Global Select Market: CWCO), a leading developer and operator of seawater desalination plants, reported results for the quarter ended June 30, 2019. Quarterly and first-half comparisons are to the same year-ago period unless otherwise noted.

Q2 2019 Financial Highlights

· Total revenues increased 22% to $18.3 million.

· Manufacturing revenue increased 332% to $4.3 million.

· Gross profit up 22% to $7.6 million.

· Net income attributable to stockholders increased 13% to $2.5 million or $0.16 per diluted share.

· $1.3 million in dividends paid.

Q2 2019 Operational Highlights

· Appointed Jamie Bryan to the new position of Vice President of Manufacturing. Bryan brings to Consolidated Water more than 22 years of experience in engineering, manufacturing, plant integration and development, and product development and distribution.

· Continued to advance the development project in Rosarito, Baja California, Mexico involving the construction and operation of a major seawater desalination plant and distribution pipeline. Designed to produce 100 million gallons per day of potable water, the plant is expected to be the largest of its kind in the Western Hemisphere and a major, much-needed new source of drinking water for the coastal region of Baja California for at least 37 years.

· Completed the disposition of CW-Bali for total consideration of $390,000.

Management Commentary

“In Q2, we realized double-digit revenue and gross profit growth that was driven primarily by increased production activity in our manufacturing business,” commented Consolidated Water CEO, Rick McTaggart. “The growth in manufacturing was due to a renewed focus on industrial sales, strong execution by our sales team and increasing customer demand for our specialized products.

“Our retail revenue growth was in part attributed to the fact that it has been a very dry year so far, with rainfall in the second quarter down 76% compared to last year. For the first half of 2019, rainfall in our Cayman Islands service area was down 55% compared with rainfall in the first half of 2018 and was also 55% lower than the 30-year average.

“The prospects for the manufacturing segment continue to look favorable, given that we have specialized manufacturing capabilities and experience relating to markets with relatively high barriers to entry. In these markets, we qualify for projects that require unique quality controls and certification. We also fabricate water treatment equipment for a diverse number of industries involved in wastewater treatment infrastructure, and we believe the numerous municipal utilities in need of improvements in this area can also drive growth in our business.

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“In anticipation of further manufacturing growth, we are expanding our production facility, with this expected to be completed within the next year. This project is being led by our new VP of Manufacturing, whose knowledge and experience will play an important role as we grow this business.

“With respect to our Rosarito project, we had two major positive developments earlier this year regarding legislative approval and funding that has allowed us to proceed to the next several important steps before we begin the construction phase. These steps include securing the major portions of the project’s required debt financing and aqueduct rights of way.

“There remain many water-scarce countries in the Caribbean and other markets where we believe we can have a positive impact on their development by providing essential fresh water supplies. So, we are continuing to explore development opportunities where we can support the growth of regional economies and improve the quality of life in local communities.

“We plan to take advantage of the ample liquidity on our balance sheet to expand into new markets and complementary product lines, diversify revenue streams and widen our geographic footprint. Our strong performance in Q2 reflects the tremendous opportunities ahead.”

Second Quarter 2019 Financial Summary

Total revenues for the second quarter of 2019 were $18.3 million, up 22% compared to $15.1 million in the same year-ago quarter. The increase was primarily driven by an increase of $3.3 million in the manufacturing segment, as well as an increase of $0.7 million in the retail segment.

Manufacturing revenues increased due to an increase in the number of orders and expanded project production activity. The increase in manufacturing and retail revenues was partially offset by a decrease in bulk and services revenues. The decrease in bulk revenues was due to the lower rates that came into effect in February for water supplied by the company’s Red Gate and North Sound plants.

Gross profit for the second quarter of 2019 was $7.6 million or 41.3% of revenues, up 22% from $6.2 million or 40.1% of revenues in the same year-ago quarter.

Net income attributable to Consolidated Water stockholders for the second quarter of 2019 was $2.5 million or $0.16 per fully diluted share, up 13% from $2.2 million or $0.14 per fully diluted share the year-ago quarter.

The rise in net income for the second quarter of 2019 as compared to the same year-ago quarter reflects an improvement in income from operations of $1.2 million.

Cash and cash equivalents totaled $41.9 million as of June 30, 2019, as compared to $31.3 million as of December 31, 2018. The increase resulted primarily from net income generated from continuing operations.

First Half 2019 Financial Summary

Total revenues for the first half of 2019 were $35.3 million, up 19% compared to $29.6 million in the same year-ago period. The increase was primarily driven by an increase of $5.8 million in the manufacturing segment, as well as an increase of $1.0 million in the retail segment.

Manufacturing revenues increased due to an increase in the number of orders and expanded project production activity. Retail revenues increased due to the volume of water sold by Cayman Water, which increased by nearly 3%, as well as due to increased energy prices that increased the energy pass-through component of the company’s Cayman Water retail revenues by $356,000.

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The increase in manufacturing and retail revenues was partially offset by a decrease in bulk and slight decrease in services revenues. The decrease in bulk revenues was due to the lower rates that came into effect in February of this year under the new contract for water supplied by the Red Gate and North Sound plants.

Gross profit for the first half of 2019 was $14.5 million or 41.1% of revenues, up 17% from $12.4 million or 41.7% of revenues in the same year-ago period.

Net income attributable to Consolidated Water stockholders for the half of 2019 was $8.7 million or $0.57 per fully diluted share, up 102% from $4.3 million or $0.28 per fully diluted share in the same year-ago period.

Second Quarter Segment Results

	Three Months Ended June 30, 2019
	Retail		Bulk		Services			Manufacturing		Total
Revenues	$	6,983,515	$	6,941,051	$	90,792		$	4,289,902	$	18,305,260
Cost of revenues		2,982,758		4,768,122		45,094			2,956,537		10,752,511
Gross profit		4,000,757		2,172,929		45,698			1,333,365		7,552,749
General and administrative expenses		3,405,421		344,971		779,882			464,718		4,994,992
Gain on asset dispositions and impairments, net		397,301		-		-			-		397,301
Income (loss) from operations	$	992,637	$	1,827,958	$	(734,184	)	$	868,647		2,955,058
Other income, net											50,333
Income before income taxes											3,005,391
Provision for income taxes											64,233
Net income from continuing operations											2,941,158
Income from continuing operations attributable to non-controlling interests											464,896
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders											2,476,262
Total income from discontinued operations											-
Net income attributable to Consolidated Water Co. Ltd. stockholders										$	2,476,262

Depreciation and amortization expenses for the three months ended June 30, 2019 for the retail, bulk, services and manufacturing segments were $615,363, $976,437, $1,137 and $215,713, respectively.

	Three Months Ended June 30, 2018
	Retail			Bulk		Services			Manufacturing			Total
Revenues	$	6,268,023		$	7,680,701	$	122,912		$	992,430		$	15,064,066
Cost of revenues		2,722,650			5,397,449		104,069			655,679			8,879,847
Gross profit		3,545,373			2,283,252		18,843			336,751			6,184,219
General and administrative expenses		2,874,517			297,863		665,738			608,851			4,446,969
(Loss) on asset dispositions and impairments, net		(650	)		-		-			-			(650	)
Income (loss) from operations	$	670,206		$	1,985,389	$	(646,895	)	$	(272,100	)		1,736,600
Other income, net													312,032
Income before income taxes													2,048,632
Benefit from income taxes													(48,878	)
Net income from continuing operations													2,097,510
Income from continuing operations attributable to non-controlling interests													208,692
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders													1,888,818
Total income from discontinued operations													299,375
Net income attributable to Consolidated Water Co. Ltd. stockholders												$	2,188,193

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Depreciation and amortization expenses for the three months ended June 30, 2018 for the retail, bulk, services and manufacturing segments were $504,616, $763,490, $7,639 and $399,426, respectively.

First Half Segment Results

	Six Months Ended June 30, 2019
	Retail		Bulk		Services			Manufacturing		Total
Revenues	$	13,670,175	$	14,052,364	$	191,369		$	7,379,876	$	35,293,784
Cost of revenues		5,808,362		9,722,713		167,013			5,080,644		20,778,732
Gross profit		7,861,813		4,329,651		24,356			2,299,232		14,515,052
General and administrative expenses		6,522,699		606,383		1,265,767			978,177		9,373,026
Gain on asset dispositions and impairments, net		394,570		46,500		-			-		441,070
Income (loss) from operations	$	1,733,684	$	3,769,768	$	(1,241,411	)	$	1,321,055		5,583,096
Other income, net											310,423
Income before income taxes											5,893,519
Provision for income taxes											113,192
Net income from continuing operations											5,780,327
Income from continuing operations attributable to non-controlling interests											738,804
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders											5,041,523
Net income from discontinued operations											3,621,170
Net income attributable to Consolidated Water Co. Ltd. stockholders										$	8,662,693

Depreciation and amortization expenses for the six months ended June 30, 2019 for the retail, bulk, services and manufacturing segments were $1,133,377, $1,924,126, $2,273 and $492,766, respectively.

	Six Months Ended June 30, 2018
	Retail			Bulk		Services			Manufacturing			Total
Revenues	$	12,699,371		$	15,127,484	$	246,676		$	1,545,198		$	29,618,729
Cost of revenues		5,484,204			10,447,785		238,940			1,094,540			17,265,469
Gross profit		7,215,167			4,679,699		7,736			450,658			12,353,260
General and administrative expenses		5,959,363			594,734		1,316,374			1,238,209			9,108,680
(Loss) on asset dispositions and impairments, net		(1,990	)		-		-			-			(1,990	)
Income (loss) from operations	$	1,253,814		$	4,084,965	$	(1,308,638	)	$	(787,551	)		3,242,590
Other income, net													459,629
Income before income taxes													3,702,219
Benefit from income taxes													(126,266	)
Net income from continuing operations													3,828,485
Income from continuing operations attributable to non-controlling interests													174,199
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders													3,654,286
Net income from discontinued operations													626,432
Net income attributable to Consolidated Water Co. Ltd. stockholders												$	4,280,718

Depreciation and amortization expenses for the six months ended June 30, 2018 for the retail, bulk, services and manufacturing segments were $1,007,629, $1,527,037, $15,277 and $798,720, respectively.

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Outlook

Based on committed purchase orders, Consolidated Water continues to expect that the performance of its manufacturing segment for the 2019 fiscal year to exceed its performance for 2018.

The company traditionally sells more water on Grand Cayman during the first half of the calendar year when the number of visitors is typically greater and local rainfall is less as compared to the back half of the year.

Conference Call

Consolidated Water management plans to host a conference call to discuss these results, followed by a question and answer period.

Date: Monday, August 12, 2019

Time: 11:00 a.m. Eastern time (8:00 a.m. Pacific time)

Toll-free dial-in number: 1-844-875-6913

International dial-in number: 1-412-317-6709

Conference ID: 10133824

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 1:00 p.m. Eastern time on the same day through August 19, 2019, as well as available for replay via the Investors section of the Consolidated Water website at www.cwco.com.

Toll-free replay number: 1-877-344-7529

International replay number: 1-412-317-0088

Replay ID: 10133824

About Consolidated Water Co. Ltd.

Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where there are scarce amounts of naturally occurring potable water. The company operates water production facilities in the Cayman Islands, The Bahamas and the British Virgin Islands. The company’s operations in the United States manufacture and service a wide range of products and provide design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit www.cwco.com.

Company Contact:

David W. Sasnett

Executive Vice President and CFO

Tel (954) 509-8200

dsasnett@cwco.com

Investor Relations Contact
Ron Both, CMA
Tel (949) 432-7566
CWCO@cma.team

Cautionary Note Regarding Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should", "will" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the company's products and services in the marketplace, changes in its relationships with the governments of the jurisdictions in which it operates, the outcome of its negotiations with the Cayman government regarding a new retail license agreement, its ability to successfully secure contracts for new water projects, its ability to complete the project under development in Baja California, Mexico, the future financial performance of its subsidiary that manufactures water treatment-related systems and products and provides design, engineering, management, operating and other services applicable to commercial, municipal and industrial water production, its ability to develop its projects and operate its water production facilities profitably, its ability to collect its delinquent accounts receivable in the Bahamas, and its ability to manage growth and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission (“SEC”). For more information about risks and uncertainties associated with the company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the company’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting the company’s Secretary at the company’s executive offices or at the “Investors – SEC Filings” page of the company’s website at http://ir.cwco.com/Docs/. Except as otherwise required by law, the company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30,		December 31,
	2019		2018
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	41,878,723	$	31,337,477
Restricted cash		1,505,679		-
Accounts receivable, net		20,190,787		24,228,095
Inventory		3,764,169		2,232,721
Prepaid expenses and other current assets		675,931		1,035,796
Current portion of loans receivable		-		734,980
Costs and estimated earnings in excess of billings		3,451,517		835,669
Current assets of discontinued operations		-		1,959,494
Total current assets		71,466,806		62,364,232
Property, plant and equipment, net		62,951,715		58,880,818
Construction in progress		661,062		6,015,043
Inventory, non-current		4,417,302		4,545,198
Investment in OC-BVI		2,127,099		2,584,987
Goodwill		8,004,597		8,004,597
Land and rights of way held for development		24,161,024		24,161,024
Intangible assets, net		1,499,444		1,891,667
Operating lease right-of-use assets		4,590,492		-
Other assets		2,079,668		2,123,999
Long-term assets of discontinued operations		-		1,944,033
Total assets	$	181,959,209	$	172,515,598
LIABILITIES AND EQUITY
Current liabilities
Accounts payable, accrued expenses and other current liabilities	$	2,779,028	$	4,570,641
Accrued compensation		853,782		1,286,468
Dividends payable		1,290,174		1,286,493
Current maturities of operating leases		647,782		-
Billings in excess of costs and estimated earnings		-		109,940
Current liabilities of discontinued operations		-		646,452
Total current liabilities		5,570,766		7,899,994
Deferred tax liability		540,966		659,874
Noncurrent operating leases		4,036,684		-
Other liabilities		75,000		199,827
Total liabilities		10,223,416		8,759,695
Commitments and contingencies
Equity
Consolidated Water Co. Ltd. stockholders' equity
Redeemable preferred stock, $0.60 par value. Authorized 200,000 shares; issued and outstanding 40,120 and 34,796 shares, respectively		24,072		20,878
Class A common stock, $0.60 par value. Authorized 24,655,000 shares; issued and outstanding 15,020,344 and 14,982,906 shares, respectively		9,012,206		8,989,744
Class B common stock, $0.60 par value. Authorized 145,000 shares; none issued		-		-
Additional paid-in capital		87,534,435		87,211,953
Retained earnings		65,400,272		59,298,161
Cumulative translation adjustment		-		(549,555	)
Total Consolidated Water Co. Ltd. stockholders' equity		161,970,985		154,971,181
Non-controlling interests		9,764,808		8,784,722
Total equity		171,735,793		163,755,903
Total liabilities and equity	$	181,959,209	$	172,515,598

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CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Total revenues	$	18,305,260		$	15,064,066		$	35,293,784		$	29,618,729
Total cost of revenues		10,752,511			8,879,847			20,778,732			17,265,469
Gross profit		7,552,749			6,184,219			14,515,052			12,353,260
General and administrative expenses		4,994,992			4,446,969			9,373,026			9,108,680
Gain (loss) on asset dispositions and impairments, net		397,301			(650	)		441,070			(1,990	)
Income from operations		2,955,058			1,736,600			5,583,096			3,242,590
Other income (expense):
Interest income		140,467			170,102			290,652			331,223
Interest expense		(1,482	)		(2,876	)		(1,482	)		(4,630	)
Profit-sharing income from OC-BVI		2,025			56,700			8,100			85,050
Equity in the earnings (losses) of OC-BVI		(24,949	)		157,483			(11,488	)		238,076
Net unrealized gain (loss) on put/call options		-			84,000			(24,000	)		(122,000	)
Other		(65,728	)		(153,377	)		48,641			(68,090	)
Other income, net		50,333			312,032			310,423			459,629
Income before income taxes		3,005,391			2,048,632			5,893,519			3,702,219
Provision for (benefit from) income taxes		64,233			(48,878	)		113,192			(126,266	)
Net income from continuing operations		2,941,158			2,097,510			5,780,327			3,828,485
Income from continuing operations attributable to non-controlling interests		464,896			208,692			738,804			174,199
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders		2,476,262			1,888,818			5,041,523			3,654,286
Gain on sale of discontinued operations		-			-			3,621,170			-
Net income from discontinued operations		-			299,375			-			626,432
Total income from discontinued operations		-			299,375			3,621,170			626,432
Net income attributable to Consolidated Water Co. Ltd. stockholders	$	2,476,262		$	2,188,193		$	8,662,693		$	4,280,718
Basic earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.16		$	0.13		$	0.34		$	0.25
Discontinued operations		-			0.02			0.24			0.04
Basic earnings per share	$	0.16		$	0.15		$	0.58		$	0.29
Diluted earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.16		$	0.12		$	0.33		$	0.24
Discontinued operations		-			0.02			0.24			0.04
Diluted earnings per share	$	0.16		$	0.14		$	0.57		$	0.28
Dividends declared per common and redeemable preferred shares	$	0.085		$	0.085		$	0.17		$	0.17
Weighted average number of common shares used in the determination of:
Basic earnings per share		15,020,344			14,959,309			15,020,344			14,959,284
Diluted earnings per share		15,130,778			15,117,726			15,130,071			15,116,712

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