BC Ferries Post Lowest Net Earnings Since 2015
BC Ferries terminal aerial shot. Supplied by BC Ferries Annual Report.
BC Ferries has released its year-end earnings and by the transportation giant’s standards, it was a lean year.
The company posted net earnings of $52.2 million dollars, the lowest net earnings since 2015 when net earnings were $49.1 million.
BC Ferries has invested more than $241 million dollars back into the company, including more than $133 million dollars into vessel upgrades and modifications and another $49 million in new vessels.
Five vessels have been converted to LNG, while the other vessels operate on ultra-low sulphur diesel.
Net earnings in 2018 were about $60 million dollars.
Big 2019 Investments:
$133.5 million in vessel upgrades and modifications
$49 million in new vessels
$28.2 million in information technology
$19.5 million in terminal building upgrades
$10.9 million in terminal marine structures
Net Earnings since 2015:
2019: $52.2 million
2018: $59.9 million
2017: $77.4 million
2016: $69.6 million
2015: $49.1 million