MONTREAL, June 13, 2014 /CNW Telbec/ - The management team of Société en commandite Stationnement de Montréal (the "Société"), has published its financial statements for the fiscal year ended December 31, 2013.
An exceptional performance
The Société's revenues from on-street parking grew from $56 M to $61 M, representing a 9.6% increase compared to last year. This positive performance stems from three factors, namely a decrease in on-street construction projects in 2013, a lower rate of non-payment due to a combination of improved surveillance and the efforts of the SPVM's parking agents, as well as user response to the P$ Mobile Service app, thereby fostering payment compliance.
As a result, the Société has contributed a total of $50.5 M to the City of Montréal in the form of taxes, rents, permits, debenture interest, compensation and royalties, representing a 14% increase over 2012.
Moreover, the Société confirmed its full repayment, as planned, of the $20 M payable to the City of Montréal over 10 years.
P$ Mobile Service
The mobile app's popularity has grown exponentially since its launch in June 2012. Indeed, 25% of all on-street parking fees were paid through this new method in 2013's closing quarter. Moreover, the Société has lowered its service fees from 40 ¢ to 30 ¢ in early June 2014.
Lastly, management is pleased with its achievements as it pertains to its 2012-2015 strategic plan, which includes the objective to enhance users' parking experience, leverage technological breakthroughs, as well as contribute to the City of Montréal's economic development.
About Stationnement de Montréal
Created in 1995, the Société en commandite Stationnement de Montréal was originally founded to ensure the optimal management of municipal paid parking. The Société was quickly recognized for its innovation, its advantageous use of cutting-edge technologies and the harmonious integration of its installations into the urban landscape.
SOURCE: Société en commandite stationnement de Montréal
Annual Report
http://bit.ly/SDPrTc
Pierre Lalumière
Director - Communications and Public Relations
Stationnement de Montréal
Office: 514 868-3792
Mobile: 514 473-3115
[email protected]
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