Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 201 3 CARON TRANSPORT There are times where it sure would be nice to be wrong for a change. In my report last year, I mentioned that 2016 would be challenging and it was!!! Sales from Canadian operations, which include Interload services, were down 20 per cent with profits plummeting 50 per cent from the previous year. The US operations suffered a similar decline in sales with profits going from a break even in 2015 to significant losses in 2016. That’s all I am prepared to say about all that negative stuff. The good news is that overall the organization continues to be profitable thanks to the cost cutting initiatives taken by our team in all departments. To give you more insight into the good news: the first eight months saw significant losses, compounded by the challenges from the Fort McMurray fires. Once that was under control, we saw gradual improvement on both the Canadian and the US side. In those first eight months, layoffs were unavoidable. However, in the months following, employees were called back and we have once again begun to hire professional drivers and filled other positions. Just recently we started moving product to the Site C Dam in north eastern BC, a significant five-to-seven-year project and Interload managed to secure a snow removal contract that we lost two years ago due to pricing pressures. Although the snow removal contract does not produce significant revenue, it allows Interload to maintain its core aggregate driver pool throughout the winter months. It is comforting to know in times of adversity that we have the right people in place to not only sustain the company through challenging times but to make us stronger for the brighter future around the corner. I want to thank each one of our employees for the contributions they have made to get us through a challenging year. – Bruno Muller SALES: $95,128,565 CURRENT ASSETS: $20,896,392 TOTAL ASSETS: $106,569,023 PIC_AnnualReport_Final-Alternate_2.indd 13 2016-12-01 8:42 AM