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ATCO Ltd. | 2015 | Annual Report

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ATCO Ltd. | 2015 | Annual Report ATCO Ltd. | 2015 | Annual Report CHAPTER TITLE FOR EASY REFERENCE 1 Table of Contents 1 Financial Highlights 2 Return on Investment ATCO STRUCTURES & LOGISTICS 3 Letter to Share Owners ATCO SUSTAINABLE INTERNATIONAL 5 ATCOenergy COMMUNITIES Competing Globally Through 7 Innovative Solutions STRUCTURES & LOGISTICS STRUCTURES & LOGISTICS ATCO ELECTRIC 9 GLOBAL BUSINESS UNIT INTERNATIONAL ATCO ATCO PIPELINES 10 Modular Structures POWER ATCO GAS ATCO ENERGY SOLUTIONS 12 Lodging and Support Services ELECTRICITY INTERNATIONAL 13 Logistics and Facility Operations and Maintenance Services PIPELINES GLOBAL & LIQUIDS 14 Sustainable Communities ATCOenergy ELECTRICITY 16 GLOBAL BUSINESS UNIT 17 Electricity Transmission and Distribution 19 Power Generation 20 Distributed Generation 22 Northern Operations 25 International Operations Ronald D. Southern PIPELINES & LIQUIDS C.C., C.B.E., A.O.E., B.Sc., LL.D • 1930 – 2016 26 GLOBAL BUSINESS UNIT On January 21, 2016 the world lost a giant. 27 Natural Gas Distribution With nearly 8,000 employees and assets A man who has touched the lives of so many with his fierce determination and tireless pursuit 31 Natural Gas Transmission of approximately $19 billion, ATCO is a of excellence. A true citizen of the globe and Hydrocarbon Storage diversified global corporation delivering a brilliant mind. His is a legacy that will be 32 and Industrial Water service excellence and innovative business remembered for generations to come. 34 International Operations solutions in Structures & Logistics (workforce As Founder of ATCO Group, he played a pivotal housing, innovative modular facilities, and visionary role in every major development in 37 Indigenous Partnerships construction, site support services, and the evolution and growth of the company. 41 ATCO in the Community logistics and operations management); 43 FINANCIAL EXCELLENCE 2015 Electricity (power generation, distributed generation, and electricity distribution, 45 Consolidated Annual Results transmission and infrastructure development); 46 Consolidated Operating Summary Pipelines & Liquids (natural gas transmission, 47 ATCO Ltd. Directors distribution and infrastructure development, 48 ATCO Ltd. Officers hydrocarbon storage, and industrial water solutions); and Retail Energy (electricity and 49 ATCO’s Beautiful Alberta Heritage natural gas retail sales). More information can 50 General Information be found at www.ATCO.com. 2 2015 ATCO ANNUAL REPORT ATCO and Denendeh ATCO’s Global Capabilities Investments Incorporated sign a landmark agreement that will see the First Nations-owned company become a 50 per cent partner in Northland Utilities STRUCTURES ELECTRICITY PIPELINES & LIQUIDS (pg. 38). & LOGISTICS Provides comprehensive solutions Delivers vertically integrated Complete infrastructure solutions for global customers in power solutions in natural gas to customers worldwide including generation, distributed generation transmission, distribution and modular structures, lodging and electricity transmission, infrastructure development, and support services, logistics distribution and infrastructure hydrocarbon storage and and facility operations and development. processing, and industrial water maintenance and a full range of solutions. pre-fabricated, culturally sensitive Electric Service Area* Delivers safe, reliable electricity to Natural Gas Service Area* building solutions for Indigenous Fort Area and other remote communities. nearly 227,000 farm, business and Provides safe, reliable and McMurray ATCO Structures Enlarged ATCO launches & Logistics wins a residential customers in 245 cost-effective natural gas ATCOenergy – a Manufacturing Facilities communities in Alberta and more delivery to more than 1.1 million $470 million contract to new natural gas design, manufacture, than 28,000 customers in Canada’s customers in nearly 300 Alberta and electricity install and operate a Offices and/or Operations retailer in 1,600-person workforce North. communities and approximately Alberta 725,000 customers through housing facility for BC Indigenous Community (pg. 5). Hydro’s Site C Clean Projects Major Transmission Projects Western Australia’s largest gas ATCO Gas invests Energy Project (pg. 11). $331 million in Plans, develops, operates distribution network. capital projects – and maintains transmission installing 785 km Indigenous Partnerships infrastructure that transports Pipelines of pipeline and Building and sustaining connecting electricity from generating stations Owns and operates key natural Indigenous relationships helps more than to substations. gas transmission facilities 20,000 primary form the foundation for how throughout Alberta transporting service lines to ATCO does business and Fort McMurray West its network in clean, efficient energy from Alberta (pg. 27). is reflected through both its Proposed Routes ATCO Electric producers and other pipelines, to completes the longstanding relationships with utilities, power generators Edmonton $1.8 billion Construction is well underway on Indigenous communities and how Power Plants Eastern Alberta ATCO’s Ramal Tula Gas Pipeline (pg. 36). and major industries. the company engages with these Builds, owns and operates Transmission Project development and design work Line — the longest has also commenced on a cogeneration communities every day. independent power generation Hydrocarbon Storage transmission line power plant project at the Miguel plants providing industry-leading, and Processing and in ATCO’s history Hidalgo Refinery (pg. 25). (pg. 17). reliable, responsible and cost- Industrial Water Solutions ATCOenergy Service Area effective solutions to customers Builds, owns and operates Alberta’s Sells low-cost electricity and natural and partners with 13 plants in natural gas, natural gas liquids Canada and 2 plants in Australia. Industrial gas service to residential and and industrial water-related Heartland business customers in Alberta. infrastructure to serve the midstream sector of Western ATCO Pipelines begins Canada’s energy industry, offering construction on the ATCO Energy first three segments solutions in product storage, Solutions Calgary processing and transportation. of the Urban Pipeline completes Replacement Program ATCO has business development offices in its key Delivers energy to residential and Edmonton $50 million in in Calgary (pg. 30). Current ATCO projects to Operations geographic markets that are focused on supporting growth commercial customers in the expand and for ATCO’s global business units in those markets: Town of Inuvik. improve its multi-user industrial ATCO Australia water system in Alberta’s Perth Industrial ATCO Mexico Heartland (pg. 34). * ATCO has overlapping service areas for electricity and natural gas distribution in Central Alberta. ATCO Gas Australia supports Construction begins on a 36,000 sq. ft. Multiplex Sports Gas-Powered Air Conditioning Centre for the Piikani Nation — the largest project in technology which can save ATCO Sustainable Communities’ history (pg. 15). 5 2015 ATCO ANNUAL REPORT 7customers 2015 ATCO up toANNUAL 40 per centREPORT in CHAPTER TITLE FOR EASY REFERENCE 7 operating costs (pg. 35). ATCO Ltd. Consolidated Annual Results YEAR ENDED DECEMBER 31 Five-Year Financial Total Return on Highlights (Millions of $ Canadian dollars 100$200 Investment except per share data) 2015 2014 FINANCIAL This data (other than Revenues 4,131 4,554 funds generated by operations) has been Earnings attributable to $150 extracted from financial Class I & Class II shares 154 420 $ statements which 133 $132 have been prepared Adjusted earnings 293 374 in accordance with $ International Financial 112 Total assets 17,689 Reporting Standards 19,055 $100 (IFRS) and the reporting Class I & Class II currency is the 3,356 3,168 Canadian dollar. share owners’ equity Funds generated by $50 For further information, operations 1,589 1,786 please see the ATCO Ltd. Consolidated Capital expenditures 1,868 2,373 Financial Statements and Management’s Discussion and Analysis - CLASS I NON-VOTING FORWARD-LOOKING 2010 2011 2012 2013 2014 2015 www.sedar.com. & CLASS II VOTING INFORMATION: SHARE DATA Certain statements contained Compound Cumulative Growth Rate Return in this Annual Report constitute This graph compares the forward-looking information. Class I Non-Voting Earnings per share 1.34 3.66 5.8% $133 cumulative share owner Forward-looking information is (ACO.X) return over the last five years often, but not always, identified of the Class I Non-Voting by the use of words such as and Class II Voting shares Diluted earnings % $ Class II Voting “anticipate”, “plan”, “estimate”, 5.7 132 (ACO.Y) of the Company (assuming per share 1.33 3.64 “expect”, “may”, “will”, “intend”, reinvestment of dividends) “should”, and similar expressions. with the cumulative total S&P/TSX return of the S&P/TSX Forward-looking information 2.3% $112 Dividends paid Composite composite index. involves known and unknown per share 0.99 0.86 risks, uncertainties and other factors that may cause actual results or events to differ Shares outstanding materially from those anticipated (thousands) 115,024 115,141 in such forward-looking ATCO SHARE It is important for prospective owners of ATCO shares to information. The Corporation understand that ATCO is a diversified group of companies believes that the expectations OWNERSHIP Weighted average reflected in the forward-looking principally controlled by Sentgraf, a Southern family holding shares outstanding information are reasonable, but no FOR
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