PortsToronto Presents 2022 Financial Results at Annual General Meeting

Toronto (June 8, 2023) – PortsToronto today held its Annual General Meeting (AGM). During the meeting, senior management and members of the Board of Directors provided an overview of the organization’s 2022 fiscal year.
For the fiscal year 2022, PortsToronto reported strong operating revenues of $65.4 million, an increase of $25.7 million over 2021 revenue of $39.7 million, and had a net income from operations of $30.4 million, versus $10.0 million in 2021, an improvement of $20.4 million year-over-year. Audited Financial Statements for 2022 were released May 3, 2023, and are available on the PortsToronto website and within the Annual Report, also available on the website.
In addition to discussing 2022 financial results at this year’s AGM, PortsToronto President & Chief Executive Officer, RJ Steenstra, provided an overview of the organization’s operational performance in 2022, including important sustainability, community and city-building initiatives. The remarks and presentation delivered during the Annual General Meeting are available on the PortsToronto website.
Amanda Walton, Board Chair, PortsToronto
“PortsToronto has long played an important role in the economic and social fabric of Toronto. With a history that stretches back more than 110 years, PortsToronto has continually made significant and material contributions to the City of Toronto. Now, as Toronto sets its sights on the future, PortsToronto remains committed to playing its part in facilitating recovery, supporting the economy, and making meaningful investments in transportation infrastructure to get this city moving again.”
RJ Steenstra, President & CEO, PortsToronto
“The year 2022 saw the organization return to normal operations and experience recovery and growth in all areas, including within the operation of Billy Bishop Toronto City Airport, the marine Port of Toronto and the Outer Harbour Marina. PortsToronto recorded strong financial results in 2022, while staying true to our commitment of sustainable operations, engaging with our community, and investing in city-building initiatives.”
About PortsToronto
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 the marine Port of Toronto that includes businesses in a variety of sectors including marine shipping, cargo services, media production and passenger cruises. PortsToronto is committed to fostering strong, healthy and sustainable communities and has invested more than $14 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 board with representation from all three levels of government.
Media Contact:
Jessica Pellerin
Manager, Media Relations and Public Affairs
Cell: (647) 298-0585
E-mail: jpellerin@portstoronto.com