PORT METRO VANCOUVER 2013 FINANCIAL REPORT
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Port Metro Vancouver intends to lead the growth of the Vancouver Gateway for generations to come by investing in our shared future through prudent financial management and long term planning. Investing in growth and remaining competitive to meet the demands of trade requires infrastructure development which can present significant challenges for the Port, local governments, and residents. The Port continues to engage in constructive conversation with First Nations, communities and stakeholders to ensure we are responding to feedback and protecting the environment while fostering trade for the well being of all Canadians. I am pleased to report that the 2013 financial results show Port Metro Vancouver continues to have the financial capability and strength required to ensure Vancouver’s port can support the growing trade seen in our region. Port Metro Vancouver’s 2013 cargo volumes reached 135 million tonnes, resulting in another record year and a 9 % increase over 2012. The container and bulk sectors led the growth increase with our import and export numbers remaining balanced. This translated into growth in our consolidated revenues from $189 million in 2012 to $211 million in 2013. I am pleased to report on a number of highlights for Port Metro Vancouver in 2013 : • 18 % increase in earnings before interest, taxes, depreciation and amortization • Purchase of the former Fraser Wharves auto terminal for $56 million • Completion of South Shore Elevated Road Structure on time and on budget. This structure was part of the Gateway Infrastructure Program • Re-affirmation of our AA credit rating by Standard & Poor’s I would like to extend my sincere thanks to our customers and stakeholders for their continued investments, demonstrated commitment, and collaboration with Port Metro Vancouver and other partners in the Vancouver Gateway. I also want to thank Port Metro Vancouver’s Board, Executive Leadership Team and staff for all their hard work and commitment to our organization. I look forward to continuing to work with them as we build upon our successes, strengthen our competitiveness, and lead the ongoing growth of Canada’s Pacific Gateway.
Robin Silvester President and Chief Executive Officer
ROBIN SILVESTER, PRESIDENT AND CHIEF EXECUTIVE OFFICER
“Port Metro Vancouver’s cargo volumes in 2013 reached 135 million tonnes, resulting in another record year and a 9 % increase over 2012 .”