BC Ferries releases year-end results

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In the fiscal year ending March 31, 2022 BC Ferries carried 17.9 million passengers and 8.5 million vehicles, an increase of 37 percent and 26 percent, respectively, compared to the prior year. While these increases are significant, passenger and vehicle traffic was 20 percent and 5 percent lower respectively, compared to the same period in fiscal 2019, a pre-COVID 19 year. Financially there was a net loss of $68.2 million prior to recognizing Safe Restart Funding. After recognizing $102.3 million of this federal-provincial funding, net earnings were $34.1 million, an increase of $13.1 million compared to the previous year, which included $186.0 million in Safe Restart Funding. BC Ferries’ full financial statements, including notes and Management’s Discussion and Analysis, are filed on SEDAR and will be available at www.sedar.com.

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