Canlan Ice Sports Corp. (ICE) 2020年年度报告「TSX」.pdf

1、Annual Report2020TABLE OF CONTENTS 02 LETTER TO SHAREHOLDERS03 FACILITY LOCATIONS04 FINANCIAL HIGHLIGHTS05 MANAGEMENTS DISCUSSION&ANALYSIS37 INDEPENDENT AUDITORS REPORT42 CONSOLIDATED FINANCIAL STATEMENTS76 FIVE YEAR REVIEW77 CORPORATE INFORMATIONLETTER TO SHAREHOLDERS What a year!2020 was my 24th y

2、ear as a leader in this industry and Ive seen,and have experienced a lot during that time,but nothing quite like a global pandemic.Due to the effects of COVID-19,activity in the sports and recreation industry was abruptly reduced;we saw our revenue drop by 55%.We applied our industry experience to p

3、reserve liquidity and turned our attention to ensuring that we could capitalize on the opportunities that would present themselves from this socioeconomic event.Compared to past economic downturns,the difference this time was that government was restricting how we operated,putting an extra layer of

4、importance on the health and safety of our employees and customers which has always been our primary focus.We quickly developed an industry leading Exposure Control Plan and re-engineered the game of hockey with new rules and other innovative alterations that allowed us to play over 12,000 games wit

5、hout incident between wave 1 and wave 2 of the pandemic.We have an extraordinary team,but this pandemic has reinforced that for me.Our incredible team sprang into action and committed itself to protecting the health of customers,employees and the company.For some,this meant being furloughed for the

6、better part of the year.For others it meant wearing several hats and working long hours.We quickly removed ice in all of our arenas in mid-March to significantly reduce energy consumption.This decision not only achieved significant cash savings,but it also enabled our crews to perform critical maint