2024-02-21 16:08:10 ET
Chemtrade Logistics Income Fund (CGIFF)
Q4 2023 Earnings Conference Call
February 21, 2024 10:00 ET
Company Participants
Rohit Bhardwaj - Chief Financial Officer & Investor Relations
Scott Rook - President & Chief Executive Officer
Conference Call Participants
Ben Isaacson - Scotiabank
Nelson Ng - RBC Capital Markets
Gary Ho - Desjardins
Steven Hansen - Raymond James
Joel Jackson - BMO Capital Markets
Zachary Evershed - National Bank Financial
Presentation
Operator
Good morning ladies and gentlemen and welcome to the Chemtrade Logistics Income Fund Q4 and Annual Results 2023 Conference Call. [Operator Instructions] This call is being recorded on Wednesday, February 21, 2024.
I would now like to turn the conference over to Rohit Bhardwaj. Please go ahead.
Rohit Bhardwaj
Thank you. Good morning and thank you for attending Chemtrade Logistics Income Fund's earnings conference call for the full year and fourth quarter '23. With me this morning is Scott Rook, our President and CEO. To begin the call, Scott and I will provide a recap of our full year and fourth quarter results as well as our 2024 guidance and the outlook unpinning this guidance. We will also provide an update on our organic growth projects. Throughout the call, we may refer to our accompanying presentation which is available on our website, chemtradelogistics.com. Following our prepared remarks, we will open the call for analyst Q&A to answer any questions you may have.
Today's call will contain certain forward-looking statements that are based on our current expectations and are subject to a number of risks and uncertainties. Actual results may differ materially from expectations. Further information identifying risks, uncertainties and assumptions and additional information on certain non-IFRS and other financial measures referred to in this call can be found in the disclosure documents filed by Chemtrade with the Securities Regulatory Authority available on sedarplus.ca. One of the measures that we'll refer to in this call is adjusted EBITDA which is EBITDA modified to exclude noncash items such as unrealized foreign exchange gains and losses. While our accompanying presentation refers to adjusted EBITDA, we will refer to it simply as EBITDA in our remarks.
Beginning with our full year results, EBITDA in 2023 surpassed the previous record set in 2022 by more than $70 million. [Indiscernible] of our product portfolio played a pivotal role in achieving these record-breaking results as areas of strength offset pockets of weakness. Additionally, our commercial initiatives aimed at margins capitalize on favorable market fundamentals, further enhancing our EBITDA....
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Chemtrade Logistics Income Fund (CGIFF) Q4 2023 Earnings Call Transcript