A WORD FROM THE CHAIRMAN OF THE BOARD AND THE PRESIDENT AND CHIEF EXECUTIVE OFFICER

Transcription

1 A WORD FROM THE CHAIRMAN OF THE BOARD AND THE PRESIDENT AND CHIEF EXECUTIVE OFFICER Gaétan Boivin, President and CEO, and Cléo Marchand, Chairman of the Board The year 2012 was marked by the optimization of improvements to the port through Phase I of On Course for The vision for the future that was enabled through strategic planning is now fully integrated into our operations and although the global context led us to foresee a decrease in port traffic, tonnage was similar to that of 2011, which showed the effectiveness of our actions. However, we still face significant challenges. Although the Port of Trois-Rivières potential for development is excellent, its growth is slowed down by a lack of space to accommodate new traffic. With the help of the users and other business partners, in 2012 we reviewed in detail the planning for Phase II, which is essential to the Port of Trois-Rivières competitiveness. Our finances are in good shape and the port s performance is constantly improving. However, it must continue to develop in order to reach its full potential, maximize the regional benefits of its operations and ensure sustainability. The year 2012 was also an opportunity to celebrate the history of the Port of Trois-Rivières and to invite local citizens to come and discover it. One hundred and thirty years ago, in May, 1882, the federal government created the Harbour Commission, the forerunner of the TRPA. Steeped in this history, the TRPA team is driven by the same energy to continue developing the port so it remains deeply rooted in its community and opened up to new avenues to support workers and companies both in the region and throughout Québec. Gaétan Boivin President and CEO Cléo Marchand Chairman of the Board

2 CONSEIL D ADMINISTRATION ET ÉQUIPE DE L APTR The Board of Directors met on five (5) occasions in 2012 and the Audit Committee met on five (5) occasions. In addition to their regular activities, the members of the Board and the Management of the TRPA worked very hard to update the modernization plan and continued to work on the financial package for Phase II of On Course for TRPA Team Mr. Cléo Marchand became the new Chairman of the Board and M e Martine Gravel was elected to the position of vice-president. Mr. Michel Morin joined the Board as representative for the City of Trois-Rivières and Mr. Luc Arvisais, as representative for the Government of Canada. Board of Directors 2012 In the usual order, front row: Gaétan Boivin, President and Chief Executive Officer Jacques Paquin, Vice-President Marketing and Business Development Back row: In the usual order, front row: Martine Gravel, Vice-president of the Board Representative for port users Michel Leblanc, Representative for port users Luc Forcier, Director Finances and Administration Liliane Bussière, Executive Assistant Michel Parent, Operations Manager Steve Jean, Assistant Operations Manager André Desjardins, Harbour Master Carole Desjardins, Accounting and Trade Data Analyst Sophie Comtois, Transportation Logistics Analyst Matthieu Gauthier, Business Development Coordinator Back row: Michel Morin, Representative for the City of Trois- Rivières Yves Lacoursière, Representative for the Government of Québec Luc Arvisais, représentant du gouvernement du Canada Cléo Marchand, Chairman of the Board, Representative f or port users François Dupuis, Representative for port users And: Pierre Allen, Corporate Secretary and Gaétan Boivin, President and Chief Executive Office 1

3 A FEW HIGHLIGHTS FROM 2012 First Vessel of the year On January 1, making its first visit to Trois-Rivières, the M/V Jutta, owned by Mst Mineralien Schiffahrt GmbH and flying the flag of Liberia, was the first foreign vessel to reach the Port of Trois-Rivières without stopping at another port. Maiden Voyages On March 13, the Federal Sable, owned by Fednav, was welcomed to the Port of Trois-Rivières, to mark its first voyage on the St. Lawrence. On June 11, the TRPA held a press conference on board the M/T Elevit on its maiden voyage. M/V Jutta The Captain of M/T Elevit, Mr. Ertugrul Ece, Mr. Sylvain Desbiens, Viceprrsident Servitank, Mr. Haldun Dincel of Yardimci Corporation and Mr. Gaétan Boivin, President & CEO of TRPA. To highlight the arrival of the first vessel of the year, a reproduction of a work by artist Pierre Labreque, as well as baskets of regional products, were presented. In the usual order, Mr. Gaétan Boivin, President & CEO-of TRPA, the Captain of M/V Jutta, Mr. Vik Miroslav, Mr. Vladimir Skuhrovec, chief engineer and Mr. Jacques Paquin, Vice-President Marketing and Business Development. M/T Elevit 2

4 Networking Activities In order to make the port better known to industries in the region, the TRPA, in collaboration with Carrefour Québec international, organized an activity and a visit of the port facilities. Among those who collaborated on this activity were representatives from Groupe Prommel, Logistec and the Québec Gatineau Railway. This very successful meeting generated a lot of interest. Phase II On Course for 2020 The TRPA has continued to work on projects leading to the completion of the Phase II of Course for The economic impact study was updated and a new funding request was submitted to Transport Canada. Representational activities were organized with both the federal and provincial governments. Detailed engineering of the Phase II work was completed. The environmental studies that were carried out allowed the TRPA to obtain the necessary environmental approvals. Improved Signage and Lighting for the Port Facilities In 2012, the installation of new signage for the buildings, the docks and the roads was completed. In 2012, the TRPA undertook action to strengthen the bonds with the Canadian National (CN) and Canadian Pacific (CP) railways in order to develop projects for specific corridors. A presentation on the Port of Trois- Rivières before CP accounts managers was held in Toronto in December. A similar activity will be held with CN in The TRPA took part in a lunch conference organized by the SODES on September 20. Development of New Business Partnerships The TRPA works closely with the port users in order to consolidate current markets and identify new commercial corridors to be developed. It organized missions in other parts of Canada and abroad and took part in several meetings with various partners. To this were added visits of the port facilities by potential clients. These efforts will continue in The position of Business Development Coordinator was created in 2012 to help with this task. A new structure was installed at the main gate house in improve the flow of traffic. Moreover, to meet the needs of users and increase workers safety, the lighting systems in the dock 20 sector were reassessed. Work to improve the lighting in the marshalling yard and the elevator area have been identified and will be completed in

5 Plan to Upgrade the Rail Network The restoration of railway tracks 19 A and 19 B were completed to the satisfaction of the operator, QGRY. The tracks on the west side of the port were inspected, allowing future work on the railway sector to be planned. Environmental Policy In accordance with the Port s environmental policy, each user must generate an annual action plan for improving its environmental performance, and submit it to the TRPA. Among other things, this demonstrates each user's efforts to reduce the environmental footprint of their operations. Improved Information Systems 138 million in 2010 and 128 million in 2008, or increases of 14% and 23%. Regular Communication and Involvement in the Mauricie Community Regular and efficient internal and external communications are a priority for the TRPA. In 2012, the TRPA made public its Annual Report at the Annual General Meeting, on May 17, and distributed it to all its partners. On several occasions the TRPA invited members of the local press to inform them regarding its activities. It produced a corporate brochure presenting the Port of Trois-Rivières and redesigned its Web site. In 2012, the TRPA continued to develop software applications to improve traffic monitoring at the port and ensure the efficiency of its activities. It implemented the APTR-Ferroviaire software application for rail transport. The TRPA continued to develop applications for road transport, management of maritime traffic and port property. A new maintenance tool was acquired in order to organize preventive and predictive maintenance for port facilities. Forecast Model In recent years, the TRPA has put a lot of effort into analyzing the performance of the rented spaces. Using data on traffic, planned investments and expected changes to the infrastructures, the TRPA has developed a forecast model. In addition to optimizing spaces, the model enables a better anticipation of the TRPA's financial needs. The model was updated when the On Course for 2020 plan was reviewed. It will be updated annually. Corporate brochure and 2011 Annual Report. Members of the TRPA team were also involved in many regional events. Economic Impact Study Update Early in 2012, the TRPA updated its economic impact study based on traffic in This study was conducted by the SECOR, an economic analysis firm, and shows that operations at the Port of Trois-Rivières generated 949 direct jobs in 2011, compared to 848 in 2010 and 767 in 2008, when On Course for 2020 was implemented. These figures represent increases of 11% and 24%, respectively. To this were added, in 2011, 973 indirect and induced jobs for a total of 1,922 jobs, an 11% increase over 2010 and a 19% increase over The economic benefits in 2011 amounted to 158 million dollars, compared to Gaétan Boivin contributed to the 2012 edition of the cookbook entitled: De la Chambre à la Cuisine. 4

6 130 th Anniversary The TRPA celebrated its 130 th anniversary in On May 17, 1882, the law creating the Corporation of the Harbour Commissioners of Trois-Rivières was sanctioned. The government thus responded to the community s wish to regain control over the development of the port. Gilles Joubert The TRPA is proud to have contributed to the Arthritis Society's fundraising activity for Québec. Gaétan Boivin was honorary president of the 2012 edition. Cruise Industry Development Several meetings between the TRPA, the City of Trois- Rivières and Tourisme Trois-Rivières were held for the purpose of developing the international cruise industry. The Port of Trois-Rivières also received the Most Improved Port Facilities award from the prestigious Cruise Insight magazine. Presentation of the 130 th anniversary logo on January 3. Mr. Pierre Ducharme, past Chairman of the Board, Mr. Gaétan Boivin, President & CEO and Mr. Jacques Paquin, Vice-president Marketing and Business Development. 130 th Anniversary Open House Day An open house day was organized on September 9 so the public could visit and learn about the port facilities. Visitors were welcomed by the port and maritime community under the big top, after which they enjoyed guided tours by bus and on board the M/S Jacques- Cartier. Over 3,200 people attended the event. The efforts to attract international cruise ships to Trois-Rivières were successful. The port welcomed the Balmoral (1,400 passengers, cover photon) and the Quest for Adventure (453 passengers) on September 20 and 25. A video on the history of the Port was presented on the Open House Day. 5

7 Open House Day Activities Gathered under a big top, the port community and several maritime organizations were happy to receive visitors in order to explain the nature of their activities, at the Port of Trois-Rivières or in the maritime sector. The visitors discovered the port facilities throughout the day through one of 125 guided tours by bus. A locomotive owned by the Québec Gatineau Railway attracted an enthusiastic crowd. Not to mention the cruises aboard the M/S Jacques Cartier organized for the benefit of visitors offering them a different view of the port facilities. Jean Chamberland 6

8 PORT TRAFFIC HIGHLIGHTS In 2012, traffic at the Port of Trois-Rivières reached 3.3 million metric tons. This is a tonnage comparable to that of 2011 when it reached a level that had not been seen in over 30 years. The stability from 2011 to 2012 follows several years of strong growth. A slight decrease was even forecasted for 2012 because of the economic uncertainty in the United States, Europe and Asia. Grain traffic increased substantially (12% over 2011) while other solid bulk products decreased by 8%. This resulted in a 2% overall increase in solid bulk that reached 2.8 million metric tons. The liquid bulk sector remained stable at 333,000 metric tons while general cargo decreased significantly from 280,000 to 141,000 metric tons. The number of ships that visited the port increased from 242 to

9 To the Directors of Trois-Rivières Port Authority REPORT OF THE INDEPENDENT AUDITOR ON THE SUMMARY FINANCIAL STATEMENTS Mallette SENCRL Comptables professionnels agréés , rue des Forges, C.P Trois-Rivières (Québec) G9A 5L2 The accompanying summary financial statements, which comprise the summary statements of financial position as at December 31, 2012 and the summary statements of comprehensive income for the years then ended, are derived from the audited financial statements of the Trois-Rivières Port Authority for the year ended as at December 31, We have expressed an unmodified audit opinion on those financial statements in our report dated April 24, Those financial statements, and the summary financial statements, do not reflect the effects of events that occurred subsequent to the date of our report on those financial statements. The summary financial statements do not contain all the disclosures required by International Financial Reporting Standards. Reading the summary financial statements, therefore, is not a substitute for reading of the audited financial statements of the Trois-Rivières Port Authority. Management's Responsibility for the Summary Financial Statements Management is responsible for the preparation of a summary of the audited statements, in accordance with International Financial Reporting Standards. Auditor's Responsibility Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian auditing standards (CAS) 810, Engagement to Report on Summary Financial Statements. Opinion In our opinion, the summary financial statements derived from the audited financial statements of Trois-Rivières Port Authority for the year ended December 31, 2012 are consistent, in all material respects, a fair summary of those financial statements, in accordance with International Financial Reporting Standards. Partnership of chartered professional accountants Trois-Rivières, Canada May 16, CPA Auditor, CA public accountancy permit No. A

10 TROIS-RIVIÈRES PORT AUTHORITY SUMMARY STATEMENTS OF FINANCIAL POSITION As at December 31 ASSETS Current Cash ans cash equivalent 754, ,480 Trade and other receivables 1,431,670 3,347,942 Investment 11,621,294 9,426,331 Prepaid expenses 58,174 75,984 Current assets 13,865,933 13,231,737 Non-current Long-term investments 10,658,323 10,316,212 Property, plant and equipment 40,082,801 39,958,865 Non-current assets 50,741,124 50,275,077 Total assets 64,607,057 63,506,814 LIABILITIES Current Trade and other payables 672, ,367 Current portion of borrowings 1,000,000 1,500,000 Other financial liabilities 2,280 2,625 Current liabilities 1,675,173 2,011,992 Non-current Pension benefit liabilities 118, ,400 Deferred grants 7,225,301 7,574,863 Non-current liabilities 7,344,001 7,672,263 EQUITY Contributed capital 27,048,441 27,048,441 Retained earnings 28,539,442 26,774,118 Total equity 55,587,883 53,822,559 Total liability and equity 64,607,057 63,506,814 On behalf of the Board, Chairman of the Board President and Chief Executive Officer 9

11 TROIS-RIVIÈRES PORT AUTHORITY SUMMARY STATEMENTS OF COMPREHENSIVE INCOME for the years ended December Revenue from operations Harbour services 4,175,027 4,009,196 Rental income 1,861,448 1,769,800 6,036,475 5,778,996 Expenses from operations Salaries and employee benefits 988, ,734 Payments in lieu of taxes and municipal taxes 368, ,866 Repairs and maintenance 635, ,307 Professional fees 294, ,698 Depreciation property, plant and equipment 1,676,638 1,553,594 Depreciation deferred grants (346,562) (293,531) Other operating and administrative expenses 806, ,094 4,424,128 4,246,762 Operating profit 1,612,347 1,532,234 OTHER ITEMS Investment income 581, ,748 Unrealized and realized losses on investments (25,788) (34,883) Interest expenses (29,359) (41,652) Gross revenue charge (131,839) (128,597) Net income 2,006,624 2,012,850 Other comprehensive income (OCI) Employee Benefits (241,300) (152,400) Comprehensive income 1,765,324 1,860,450 10

12 TROIS-RIVIÈRES PORT AUTHORITY 1545, du Fleuve Street, suite 300 Trois-Rivières (Québec) G9A 6K4 Telephone: Fax: Jean Chamberland