Pinnacle Renewable Energy Inc. (PL) 2017年年度报告「TSX」.pdf

1、To our shareholders,We are pleased to present our fiscal 2017 Annual Report.We had a strong year on all of our key metrics in2017,with our highest ever wood pellet production and shipment volumes,along with record annual revenue,Adjusted EBITDA and cash flows.Since implementing our Owning Safety cul

2、ture in fiscal 2014,we have improved our Medical IncidentRate by more than 90 percent from fiscal 2014 to 2017,which was our safest year ever.Our efficient,well-integrated network of production facilities combined with our consistent focus on best practices inproduction management enabled us to incr

3、ease same-facility production by 18 percent from fiscal 2014 tofiscal 2017.Our strong overall performance reflects the growing demand for industrial wood pellets from our customersin Europe,the United Kingdom and Asia,our reliable production capacity and focus on operational efficiencies,and the exc

4、eptional performance and commitment of our people.During fiscal 2017,we entered into four major,long-term off-take contracts with customers.Two of thecontracts are with Mitsubishi,whereby our pellets will be supplied to two separate end users in Japan.We alsosigned off-take contracts with Uniper Ben

5、elux NV and RWE Ag,two large utilities in Europe.We ended theyear with a contracted backlog of approximately$3 billion,up 15.4 percent from the end of fiscal 2016.Our momentum has been building over the past several years,with consistent annual growth in productionvolumes,revenue and profitability.O

6、ur success positioned us to complete our initial public offering andsecondary offering of common shares in February 2018.Pinnacle Renewable Holdings Imenced tradingon the Toronto Stock Exchange on February 6,2018 under the symbol PL.We have continued to build on our positive momentum to date in fisc