Results centre - Q4 2016

  • Highlights

  • Contract status

  • Financial performance

  • Summary & outlook

  • Operating revenue of $353.3 million
  • Adjusted EBITDA of $210.4 million
  • Cash and cash equivalents of $767.6 million
  • Distribution per unit of $0.10 with a coverage ratio of 8.01x
  • Economic utilization of 94%


4Q16 3Q16 2Q16 1Q16
Total operating revenues $353.3 $384.5 $418.5 $444.0
Gain/(Loss) on derivative financial instruments $74.3 $5.7 ($28.3) ($69.7)
Total operating expenses $188.5 $180.5 $192.6 $220.5
Net operating income $164.8 $204.0 $225.9 $223.5
EBITDA for the quarter $232.0 $270.6 $290.7 $291.2

Well Positioned in a Challenging Market:

  • Long term contracts – Average remaining contract term of 1.8 years
  • $2.2 billion backlog with strong counterparties
  • Large and supportive parent
  • Strong operational performance
  • Cost efficiencies improving margins

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