PortsToronto Presents 2019 Financial Results at Online Annual General Meeting and Releases Annual Report

Toronto (July 16, 2020) – Due to current restrictions on group gatherings, and in respect of physical distancing and health protocols, PortsToronto held its Annual General Meeting (AGM) online today. During the meeting, senior management and members of the Board of Directors provided an overview of the organization’s 2019 fiscal year and confirmed the release of its 2019 Annual Report.
PortsToronto reported its twelfth consecutive year of profitability and growth in 2019. 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 2019, generating $61.0 million in overall revenue. Audited Financial Statements for 2019 were released June 11, 2020, and are available on the PortsToronto website and are also included within the Annual Report.
In addition to discussing 2019 financial results at this year’s AGM, PortsToronto’s Chief Executive Officer, Geoffrey Wilson, provided an overview of the organization’s operational performance in 2019, including the launch or completion of important sustainability, community and city-building initiatives. He also addressed the challenges PortsToronto is currently experiencing in 2020 as a result of the COVID-19 global pandemic.
“PortsToronto’s Annual General Meeting provides an opportunity for our Board of Directors and senior management team to review our business performance for the past year and provide updates on the year underway,” said Geoffrey Wilson, Chief Executive Officer, PortsToronto. “While PortsToronto ended 2019 on a high-note, business is certain to look somewhat different in 2020 as the world adjusts to the COVID-19 pandemic and the aviation sector strives to recover. PortsToronto is well versed in adapting to new realities, and throughout the challenging months ahead, we are committed to doing what we can to maintain strong business operations and support economic recovery for Toronto.”
PortsToronto 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. A recording of the AGM is posted to the PortsToronto 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 approximately 2.8 million passengers in 2019; 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 $12 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:
Deborah Wilson
Vice President, Communications & Public Affairs, PortsToronto
E-mail: Deborah.wilson@portstoronto.com