Page 7 - Markham District Energy Year in Review 2015

Customer Connections in million ft2
2015 2014
9.5 8.5
%Change
12.0%
Revenue
2015 2014
$22.60 $20.65
%Change
9.4%
Net Income (before income tax) $1.45 $0.30
2015 2014
%Change
476%
All $ amounts in millions
Fuel & Energy Costs
2015 2014
$8.11 $8.40
%Change
-3.4%
Non-Fuel Expenses
2015 2014
$5.69 $4.90
%Change
16.1%
Earnings from Operations
2015 2014
$8.80 $7.30
%Change
20.5%
Depreciations & Amortization
2015 2014
$4.01 $3.80
%Change
20.5%
Finance Costs
2015 2014
$3.34 $3.20
%Change
4.6%
Balance Sheet Notes as of December 31, 2015:
1. Capital investment totalling $154.91 million (pre-depreciation); an increase of $4.0 million or 2.6% year over year.
2. Long-term debt obligations totalling $58.01 million; a decrease of $8.6 million or 12.9% year over year. The corporation has
executed long term lending agreements with a variety of lenders including Infrastructure Ontario, Manulife, the Federation of Canadian Municipalities, TD Bank, and the City of Markham.
Note from Auditors: This data is excerpted from the Corporation’s nancial statements for the year ending December 31, 2015. The nancial statements were audited by KMPG LLP, who issued their opinion without reservation, dated June 16, 2016 which was the date on which the nancial statements were approved by the Corporation’s Board of Directors. Some gures are rounded.
6 Markham District Energy Inc.