PortsToronto Highlights Year in Review at Annual General Meeting and Releases Annual Report

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Toronto (June 21, 2019) – PortsToronto held its Annual General Meeting at the Westin Harbour Castle today where senior management and members of the Board of Directors provided an overview of the organization’s 2018 fiscal year and confirmed the release of its 2018 Annual Report.
PortsToronto was proud to report its eleventh consecutive year of profitability and growth in 2018. All of PortsToronto’s core business operations – Billy Bishop Toronto City Airport, the Port of Toronto, the Outer Harbour Marina and Property and Other (real estate) – were profitable in 2018, generating $60.0 million in overall revenue. Audited Financial Statements for 2018 were released May 16, 2019, and are available on the PortsToronto website.
In addition to discussing 2018 financial results at this year’s AGM, PortsToronto’s Chief Executive Officer, Geoffrey Wilson, highlighted the organization’s key priorities including further enhancing PortsToronto’s award-winning sustainability program and continued investment in both community programs and city-building infrastructure initiatives that will ensure our businesses continue to prosper and serve the needs of Toronto.
“PortsToronto’s Annual General Meeting provides an opportunity for our Board of Directors and senior management team to meet with stakeholders and the community to review our business performance for the year prior and present our key priorities for the year ahead,” said Geoffrey Wilson, Chief Executive Officer, PortsToronto. “The year 2018 marked another strong year for PortsToronto as we reported our 11th consecutive year of profitability, completed major infrastructure initiatives such as the final year of the airfield modernization project at Billy Bishop Airport, moved a record 2.2 million metric tonnes of cargo through the Port of Toronto and received international recognition for both our environmental and community outreach efforts with two prestigious North American awards. We are incredibly proud of all that we have achieved as an organization over the year and look forward to achieving more business success in the year ahead.”
PortsToronto is a federal government business enterprise that owns and operates Billy Bishop Toronto City Airport, Marine Terminal 52 within the Port of Toronto, the Outer Harbour Marina and various properties along Toronto’s waterfront. PortsToronto is mandated to be financially self-sufficient and self-sustaining under the Canada Marine Act and does not receive funding from any level of government.
PortsToronto’s 2018 Annual Report is now available online. Copies of the 2018 Audited Financial Statements are also available on our website.
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About PortsToronto (https://www.portstoronto.com)
For more than 100 years PortsToronto has worked with its partners at the federal, provincial and municipal levels to enhance the economic growth of the City of Toronto and the Greater Toronto Area. PortsToronto owns and operates Billy Bishop Toronto City Airport, which welcomed 2.8 million passengers in 2018; the Outer Harbour Marina, one of Canada's largest freshwater marinas; and, Marine Terminal 52, which provides transportation, distribution, storage and container services to businesses at the Port of Toronto. PortsToronto is committed to fostering strong, healthy and sustainable communities and has invested more than $11 million since 2009 in charitable initiatives and environmental programs that benefit communities along Toronto's waterfront and beyond. PortsToronto operates in accordance with the Canada Marine Act and is guided by a nine-member board with representation from all three levels of government.
Media Contact:                   
Sarah Sutton
Manager, Communications and Government Relations
Cell: (647) 298-0544
E-mail: ssutton@portstoronto.com