MONTREAL, May 8, 2024
/CNW/ - Montreal Port Authority (MPA) President and CEO
Julie Gascon, Chair of the Board
Nathalie Pilon and Chief Financial and Technology Officer Geneviève
Deschamps today released the Port of Montreal's 2023 operating results at the
annual meeting, held at the MPA head office.
The results show a slight drop in volumes compared with 2022,
operating results of $138 million, net earnings of
$11 million, a year distinguished by important achievements in
port infrastructure, and firm commitments to sustainable
development.
"Despite fluctuating economic conditions, 2023 was a year of
consolidation and significant progress for the Port of Montreal. Not only did we maintain our
capability to efficiently serve Canada's supply chain, but we also made
meaningful commitments to sustainable development and the
protection of biodiversity. These efforts reflect our ongoing
commitment to innovation and support for a greener, more resilient
economy. As we look to the future, we stay determined to strengthen
our leading role in the port sector by optimizing our operations
and advancing our expansion in Contrecœur, a major project that
guarantees our sustainable contribution to the Canadian economy,"
said Julie Gascon, President and CEO
of the MPA.
Cargo traffic
A total of 35.3 million tonnes of cargo were handled at the
Port of Montreal in 2023, down
1.8% compared with last year. This was the outcome of a mixed set
of results:
- The container sector dropped by 8.9%, with 13.1 million tonnes
handled and 1.5 million twenty-foot equivalent units (TEUs).
- The liquid bulk sector, buoyed by the sustained recovery in air
travel, rose by 6.8% to 13.9 million tonnes.
- The dry bulk sector posted a modest decline of 3% to 8.4
million tonnes.
- The cruise season enjoyed a 33% increase in visitor numbers,
with 51,096 passengers and 16,203 crew members over the course of
49 ship calls.
Financial results and
infrastructure investments
Operating revenues were $138 million in 2023 compared with
$134 million in 2022, a 2.8% increase.
Expenses totalled $125 million, including $88.9 million excluding amortization.
Capital investments for 2023 totalled $74.8 million.
With investment income factored in, net income was
$11 million.
This means that the Port of Montreal has sound financial results and
maintains an excellent Global S&P rating and outlook of
AA/stable, reaffirmed in January
2024. The MPA also maintains a solid debt service coverage
ratio.
Serving the supply chain and the
public
In 2023, the MPA inaugurated several major projects it has been
working on for several years. Chief among these was the official
inauguration of the Port of Montreal Tower, the culmination of the
extensive redevelopment of the former Alexandra Pier, now the Port of Montreal's Grand Quay. Commissioning of the
Vickers overpass in the Viau sector and completion of Phase 3
of the rail capacity optimization project will help improve the
fluidity and efficiency of port operations. The MPA also continued
to plan and design its huge expansion project at Contrecœur, laying
the foundations for the future to support the Canadian economy in
the long term. These projects are milestones in the MPA's mission
to develop, optimize and innovate in the service of the supply
chain and the people of Canada.
Also of note, the 2023-2027 strategic plan was released during
the year, outlining the global strategy that the MPA will roll out
over the next four years.
The MPA's Annual Report 2023 can be consulted at:
port-montreal.com/en/annual-report-2023
Sustainable development
Turning to sustainable development achievements, the
year 2023 was marked by two commitments that are key to the
MPA's objectives, vision and ambitions. In the first place, the
Port of Montreal aims to achieve
carbon neutrality for its own operations by 2035, and to make all
operations on its territory carbon neutral by 2050, including GHG
emissions produced by logistics companies, as well as by all
vessels and trucks. At the same time, the MPA committed to protect
30% of the territory under its management, in compliance with
the Kunming-Montreal Global Biodiversity Framework ratified at
COP15. The MPA will also plant 3,000
trees near its facilities and in the community, while continuing to
create a National Wildlife Area on the Boucherville Islands.
In 2023, the MPA emitted 1976 tonnes of GHG emissions, a 28%
decrease since the 2007 baseline year, and a 36% drop in terms of
intensity per tonne handled.
The MPA's Summary Report of Achievements in Sustainable
Development 2023 can be viewed on our website
here.
Onwards in 2024
Several milestones are set to be achieved over the course of
2024 in our major expansion project in Contrecœur. The MPA plans to
issue an international request for proposals to select a private
partner to build the terminal, including the container yard,
buildings, public utilities and the rail connections. In parallel,
compensation plans, monitoring programs and mitigation measures to
ensure responsible management of the project's impacts, under the
terms of the positive declaration of decision it obtained for
the project, continue to advance. The year 2024 will also be
distinguished by the opening of Bickerdike Promenade in the
Cité-du-Havre sector, the Port of Montreal's first city-port interface
project.
About the Port of Montreal
Operated by the Montreal Port Authority (MPA), the Port of
Montreal is the second largest
port in Canada and a diversified
transshipment centre that handles all types of goods: containerized
and non-containerized cargo, liquid bulk and dry bulk. The only
container port in Quebec, it is a
destination port served by the largest shipping lines in the world.
It is also an intermodal hub with a service offering that is unique
in North America, featuring its
own rail network directly dockside connected to Canada's two national rail networks. The MPA
also operates a Cruise Terminal and a Port Centre.
The MPA factors economic, social and environmental components
into its corporate initiatives. This commitment is governed by a
sustainable development policy whose guiding principles focus on
involvement, cooperation and accountability. Port activity in
Canada supports some 590,000 jobs
and generates $93.5 billion in
economic activity.
SOURCE Port de Montréal