Business
Chemtrade Logistics Income Fund Reports Operating Results for Full Year 2015 and Fourth Quarter
Chemtrade Logistics Income Fund Reports Operating Results for Full Year 2015 and Fourth Qu...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\nChemtrade Logistics Income Fund Reports Operating Results for Full Year 2015 and Fourth Quarter\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nChemtrade Logistics Income Fund Reports Operating Results for Full Year 2015 and Fourth Quarter\nCanada NewsWire\nTORONTO, Feb. 18, 2016\n\n\n\nTORONTO, Feb. 18, 2016 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced results for the three months and year ended December 31, 2015. The financial statements and MD&A will be available on Chemtrade's website at chemtradelogistics.com and on SEDAR at sedar.com.\n\nThe results for 2015 include the full year's contribution from the General Chemical business that was acquired at the end of January 2014. Comparative results for 2014 include these results for 11 months. \n\nConsolidated revenue for the year ended December 31, 2015 was $1.4 billion compared with $1.2 billion in 2014. The increase was due primarily to the positive impact of the stronger U.S. dollar on U.S. dollar denominated revenues in 2015. The increase was also due to the inclusion of 12 months of results from the General Chemical business in 2015 compared with 11 months in 2014.  \n\nFor the year ended December 31, 2015, distributable cash after maintenance capital expenditures was $135.7 million or $1.97 per unit. The comparable numbers for 2014 were $126.6 million and $2.10 per unit. The 2014 distributable cash amount included $18.6 million ($0.31 per unit) related to the Montreal East business that was sold in July 2014. Excluding this, distributable cash from ongoing operations increased by $27.7 million, which was primarily due to the positive impact of the stronger U.S. dollar in 2015 and the extra month of earnings from the General Chemical acquisition. \n\nAdjusted EBITDA in 2015 was $237.0 million compared with $202.2 million in 2014. Adjusted cash flow from operating activities was $188.1 million (2014:  $170.6 million).  Net loss for 2015 was $47.6 million, which was $26.8 million higher than the $20.8 million net loss from continuing operat...