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In addition, Onsite performance is affected by the customer's requirement for Newalta to maintain a strong safety record. To address this requirement, our Environmental, Health and Safety ("EH&S") team works with our people and our customers to develop an EH&S culture and prevention strategy owned by operators to ensure we maintain our strong record.
The business units contributed the following to division revenue:
Three months ended Year ended December 31, December 31, 2012 2011 2012 2011----------------------------------------------------------------------------Western Onsite 40% 47% 43% 46%Eastern Onsite 16% 15% 15% 14%Heavy Oil 44% 38% 42% 40%----------------------------------------------------------------------------
Onsite Revenue ($ millions) and Onsite Gross Profit ($ millions): http://media3.marketwire.com/docs/213nal_graphs.pdf
The following table compares Onsite's results for the periods indicated:
Three months ended Year ended December 31, December 31,($000s) 2012 2011 % change 2012 2011 % change----------------------------------------------------------------------------Revenue 75,546 59,855 26 279,992 219,222 28Cost of Sales(1) 58,219 43,419 34 210,275 160,499 31----------------------------------------------------------------------------Gross Profit 17,327 16,436 5 69,717 58,723 19----------------------------------------------------------------------------Gross Profit as % of revenue 23% 27% (15) 25% 27% (7)----------------------------------------------------------------------------Maintenance capital 2,352 3,520 (33) 7,865 7,419 6----------------------------------------------------------------------------Growth capital 16,186 17,441 (7) 68,365 41,956 63----------------------------------------------------------------------------Assets employed(2) 348,036 289,530 20--------------------------------------------------------------------------------------------------------------------------------------------------------
(1) Includes amortization of $5,265 and $17,005 for Q4 2012 and 2012 year-to-date, respectively, and $4,356 and $15,230 for Q4 2011 and 2011 year-to-date, respectively.
(2) "Assets employed" is provided to assist management and investors in determining the effectiveness of the use of the assets at a divisional level. Assets employed is the sum of capital assets, intangible assets and goodwill allocated to each division.
Q4 revenue increased 26% and gross profit was 5% higher compared to Q4 2011. Strong demand for our contracts and project services was impacted by the decline in the value of our recovered products and reduced waste volumes in Heavy Oil facilities. Declines in the price of crude oil resulted in reduced prices received for our products of $1.0 million. Lower drilling activity in the WCSB resulted in lower utilization rates for drill site. Performance was positively impacted by waste volumes processed under our MFT contract in the quarter.
