RE Royalties Announces First Quarter 2024 Financial Results and Highlights
RE Royalties Announces First Quarter 2024 Financial Results and Highlights
All amounts in Canadian dollars unless otherwise stated
除非另有说明,否则所有金额均为加元。
VANCOUVER, BC / ACCESSWIRE / May 30, 2024 / RE Royalties Ltd. (TSX.V:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, is pleased to announce the financial results for the first quarter ended March 31, 2024 ("Q1 2024"). For further information on these results please see the Company's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis for Q1 2024, filed on SEDAR+ at .
卑诗省温哥华/ ACCESSWIRE/2024年5月30日/RE Royalties Ltd. (tsx.v:RE) (OTCQX:RROYF) ("RE Royalties" or the "Company"),是可再生能源版权融资的全球领导者,很高兴地宣布了截至2024年3月31日(Q1 2024)的第一季财务结果。有关这些结果的详细信息,请参阅公司在Sedar+上提交的Q1 2024精简合并财务报表和管理层讨论与分析。
Key financial highlights for Q1 2024 include:
Q1 2024的重要财务亮点包括:
- Quarterly revenue and income for the three months ended March 31, 2024, of $2,637,000, an increase of $813,000 or 45% over the similar period in the prior year. The increase was attributable to an increase in the number of investments made during the last 12 months.
- Quarterly gross profit, including changes in fair value of financial assets, of $2,538,000, an increase of $785,000 or 45% over the similar period in the prior year.
- Quarterly Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") for Q1 2024 of $1,797,000, an increase of $451,000 or 34% over the similar period in the prior year.
- Quarterly net income after income tax of $659,000, an increase of $101,000 or 18% over the similar period in the prior year.
- Cash and cash equivalents of $14,614,000, including restricted cash, as of March 31, 2024.
- 2024年3月31日结束的三个月的季度收入和收益为2,637,000美元,比去年同期增加813,000美元或45%。增长归因于过去12个月内投资数量的增加。
- 包括金融资产公允价值变动的季度毛利润为2,538,000美元,比去年同期增加785,000美元或45%。
- 2024年Q1季度的息税前利润,折旧和摊销(“EBITDA”)为1,797,000美元,比去年同期增加451,000美元或34%。
- 2024年Q1季度净利润为659,000美元,比去年同期增加101,000美元或18%。
- 截至2024年3月31日,现金及现金等价物达到14,614,000美元,包括限制性现金。
Key business highlights for Q1 2024 include:
Q1 2024业务要点包括:
- In January 2024, the Company entered into an agreement with Clean Communities Corporation ("CCC"), an Alberta-based Indigenous-led clean energy company, to provide a $1.7 Million secured loan (the "CCC Loan") to support the construction of a 4MW solar project ("Sunrise Solar") in Cardston, Alberta. The CCC Loan has a 60-month term and an interest rate of 13% per annum, compounded monthly. The Company will receive a gross revenue royalty of 5.0% on Sunrise Solar for 20 years after reaching commercial operations.
- In February 2024, the Company closed a loan and royalty agreement with Revolve Renewable Power Corp. ("Revolve") to support Revolve's acquisition of a portfolio of two operational run-of-river hydro projects in British Columbia, and one operational wind project in Alberta with a combined gross capacity of 23 MW (the "Operational Projects").The Operational Projects receive revenue from Power Purchase Agreements ("PPAs") with BC Hydro and the City of Medicine Hat, for the hydro projects and the wind project, respectively. The Operational Projects have PPAs with remaining terms ranging from 32-35 years for the hydro projects and 11 years for the wind project. The Loan has a term of 36 months and bears interest at the rate of 12% per annum, compounded monthly, and payable semi-annually. The Company received a structuring fee of 1.0% on the Loan value at closing, and holds a gross revenue royalty of 0.5% on the Operating Projects during the term of the Loan, increasing to a gross revenue royalty of 1.0% upon repayment of the Loan for the remaining life of the PPAs.
- In March 2024, the Company entered a $415,000 secured loan (the "Revolve DG Loan") with Revolve to enable their continued expansion into the Mexican distributed generation market. The Revolve DG Loan will be used to fund construction of a new 450kW rooftop solar project (the "Project"), which will be installed on the site of a food manufacturing business (the "Customer") in Central Mexico. The Project will receive revenue from a 15-year Power Purchase Agreement ("PPA") between Revolve and the Customer. The Revolve DG Loan has a term of two years, is secured against the assets of the Project, bears interest at 12% per annum, payable quarterly, and Revolve paid a 1% closing fee on the total Loan value. A gross revenue royalty of 5% will apply to all revenues received by Revolve from the Project for the 15-year term of the PPA.
- In March 2024, the Company received an early repayment of the five-year USD $5.6 million senior secured working capital loan (the "NOMAD Loan") extended to Nomad Transportable Power Systems Inc. ("NOMAD") on April 1, 2022. Under the terms of the agreement, NOMAD, a pioneer in the mobile energy storage sector, utilized the loan to manufacture mobile energy storage systems ("Units"), including the NOMAD Traveler (2 MWh) and NOMAD Voyager (1.2 MWh). The NOMAD Loan has been repaid in full, including any outstanding interest. RE Royalties will continue to receive a gross revenue royalty of 3.5% on the sale of an additional 42MWh of NOMAD's Units. This translates to ongoing revenue for RE Royalties, providing a recurring income stream as NOMAD's battery systems continue to make an impact in the market.
- 2024年1月,公司与Clean Communities Corporation(“CCC”),一家位于艾伯塔省的印第安人领导的清洁能源公司,签订了一份1.7百万美元的担保贷款协议(CCC Loan),以支持在艾伯塔省卡斯顿(Cardston)建造一个4兆瓦太阳能项目(Sunrise Solar)。CCC贷款期限为60个月,年利率为13%,按月计息。公司将获得Sunrise Solar的毛收入版税,其比例为5.0%,在商业运营后的20年内。
- 2024年2月,公司与Revolve Renewable Power Corp. ("Revolve")签订了贷款和版税协议,以支持Revolve的收购两个位于卑诗省运河池和一个位于艾伯塔省的风电项目组合,总容量为23兆瓦(“Operational Projects”)。Operational Projects通过与卑诗省水力公司和梅迪辛哈特市签订的购电协议获得收入。水电项目和风电项目的购电协议剩余期限分别为32-35年和11年。贷款期限为36个月,利率为12%的年利率,按月复利,半年付款。公司在贷款金额结清时获得1.0%的结构性费用,并在贷款期内持有操作项目的毛收入版税0.5%,在购电协议剩余期限内升至毛收入版税1.0%。
- 2024年3月,公司与Revolve签订了一项415,000美元的担保贷款协议(“Revolve DG Loan”),以支持其继续进军墨西哥分布式发电市场。Revolve DG Loan将用于资助在墨西哥中部一个食品制造企业客户的广场上建造一个450千瓦的屋顶太阳能项目(“Project”)。该项目将从Revolve和客户之间的15年购电协议中获得收入。Revolve DG Loan的期限为两年,以该项目的资产为抵押,利率为12%,按季支付,Revolve在总贷款价值上支付了1%的征收费。Revolve从Project收取的所有收入将缴纳5%的毛收入版税,在购电协议的15年期限内适用。
- 2024年3月,公司从Nomad Transportable Power Systems Inc.("NOMAD")收到了5.6万美元的五年期美元优先担保流动资本贷款(NOMAD Loan)的提前偿还。根据协议的条款,NOMAD把这个贷款用于制造移动储能系统(“Units”),包括NOMAD Traveler(2兆瓦小时)和NOMAD Voyager(1.2兆瓦小时)。NOMAD贷款已全额还清,包括任何未偿还的利息。RE Royalties将继续从出售42兆瓦小时NOMAD的Units中获得3.5%的毛收入版税。这将为RE Royalties提供持续的收入流,因为NOMAD的电池系统继续在市场上发挥作用。
"Q1 2024 continues our strong trend of growing our revenue and income, EBITDA, and cash flows. Despite weak capital market conditions over the past few quarters, our investment portfolio continues to generate stable, recurring, and resilient cash flows. With our current cash on hand, and a robust backlog of royalty investment opportunities currently under due diligence, we expect to continue to build on our recent success over the coming quarters," said Bernard Tan, CEO.
CEO Bernard Tan表示:“2024年Q1继续延续了我们的强劲趋势,增长我们的收入和收益、EBITDA和现金流。尽管过去几个季度资本市场疲软,但我们的投资组合仍然产生稳定、有回报和抗风险的现金流。我们拥有现金存款并拥有强大的特许权投资机会积压在管廊下,我们期望在未来的季节继续建立我们最近的成功。”
Conference Call on Friday, May 31, 2024
2024年5月31日星期五电话会议
Management will be hosting a first quarter conference call and live webcast to discuss its Q1 2024 results. After opening remarks by management there will be a question-and-answer session open to analysts and investors. Questions can be submitted in advance to Melanee Henderson, Investor Relations (melaneehenderson@reroyalties.com).
管理层将主持第一季度电子会议和现场网络广播,讨论其Q1 2024财务结果。在管理层的开场白之后,分析人士和投资者将有提问时间。问题可以事先提交给投资者关系总监Melanee Henderson(melaneehenderson@reroyalties.com)。
You can register for the webcast as follows:
您可以按以下方式注册网络广播:
Date: Friday, May 31, 2024
日期:2024年5月31日星期五
Time: 1:00pm PT (4:00pm ET)
Teams Link: Register here
时间:下午1:00 PT(下午4:00 ET)
团队链接:从这里注册
Meeting ID: 252 561 584 433
Passcode: Jdws7k
Or call in (audio only): +1 778-725-6875
Phone Conference ID: 548 108 969#
会议ID:252 561 584 433
密码:Jdws7k
或仅拨打电话:+1 778-725-6875
电话会议ID:548 108 969#
1Non-GAAP Performance Measures
1非GAAP绩效指标
This document contains presentation of Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA") as a non-GAAP financial measure. This measure may differ from similar measures used by and may not be comparable to such measures as reported by other companies. The Company believes that EBITDA is commonly used by certain investors, in conjunction with conventional IFRS measures, to enhance their understanding of the Company's performance. These measures have been derived from the Company's financial statements and applied on a consistent basis. Non-GAAP measures are intended to provide additional information, not to replace IFRS measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further information on the composition and usefulness of each non-GAAP financial measure, including reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial measures section of our MD&A, which are available on Sedar+ or on the Company's website.
本文件包含以非GAAP财务指标Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA")作为介绍的内容。这个指标与其他公司使用的类似指标可能有所不同,并且可能无法与之进行比较。该公司认为,某些投资者通常会将EBITDA与常规IFRS指标结合使用,以增强对公司业绩的理解。这些指标已从公司的财务报表中衍生,并按照一致的基础应用。非GAAP指标旨在提供其他信息,而不是代替IFRS指标,并且在IFRS指标体系下没有标准定义,不应孤立考虑或作为按照IFRS准备的业绩数据的替代品。关于每个非GAAP财务指标的组成和有用性的更多信息,包括与其最直接可比的IFRS指标的对应关系,均包括在我们的MD&A的非GAAP财务指标部分中,这些部分可在Sedar+上或本公司的网站上找到。
About RE Royalties Ltd.
关于RE Royalties Ltd。
RE Royalties Ltd. acquires revenue-based royalties from renewable energy facilities and technologies by providing a non-dilutive financing solution to privately held and publicly traded companies in the renewable energy sector. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns over 100 royalties on solar, wind, hydro, battery storage, energy efficiency and renewable natural gas projects in Canada, United States, Mexico, and Chile. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
RE Royalties Ltd.通过向可再生能源领域的私营和上市公司提供非稀释融资解决方案,收购基于收益的特许权。RE Royalties是第一个将这种经过验证的商业模式应用于可再生能源行业的公司。该公司目前在加拿大、美国、墨西哥和智利拥有100多个太阳能、风力、水力、电池储能、能源效率和可再生天然气项目的特许权。公司的业务目标是为股东提供强劲的收益增长、强大的资本保护、高速成长通过再次投资以及可持续性投资重心。
For further information, please contact:
如需更多信息,请联系:
Investor and Media Contact:
投资者和媒体联系人:
Melanee Henderson, Investor Relations
T: (778) 373-6731 TF 800-667-2114
E: melaneehenderson@reroyalties.com
Melanee Henderson,投资者关系
T:(778) 373-6731 免费电话800-667-2114
E:melaneehenderson@reroyalties.com
Talia Beckett, Vice President of Communications and Sustainability
T: (778) 374‐2000
E: taliabeckett@reroyalties.com
Talia Beckett,通信和可持续性副总裁
T:(778) 374‐2000
E:taliabeckett@reroyalties.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
TSX Venture Exchange和其监管服务提供商(如TSX Venture Exchange政策中所定义的),以及其他监管机构或证券交易平台均不对此发布的充足性或准确性负责。
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
此新闻稿不构成在任何司法管辖区内出售或要约买入证券,也不得以任何该等司法管辖区不得以任何该等出售、要约或销售的情况下出售该证券。所要发行的证券尚未获得任何监管机构的批准或驳回,也没有任何此类机构审核短表格基础层架构说明书或招股书补充说明书的准确性或充足性。该证券的发售和销售未在1933年修订版《美国证券法》或任何州证券法中进行注册,也不得在未进行注册或符合美国证券法和适用州证券法的注册要求的豁免情况下,在美国境内或向美国人出售或出售。
Forward Looking Statements
前瞻性声明
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities including financing. The reader is referred to the Company's most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at .
此新闻稿包括关于公司的前瞻性信息和前瞻性声明(统称为“前瞻性信息”),属于加拿大证券法的涵义。前瞻性信息通常由这些词汇标识出来:相信、期望、预期、打算、估计、推断和类似词汇,或者是那些因其本质而指向未来事件的表达方式。这些信息所代表的预测可能与实际事件或结果有所不同。前瞻性信息可能涉及公司的未来前景和预期事件或结果,可能包括有关公司财务结果、未来的财务状况、预期的现金流增长、业务战略、预算、预计的成本、预计的资本支出、税收、计划、目标、行业趋势和增长机会,包括融资。请参阅投资斯多克交易所上公司的最新备案和提交的文件,以及OTC市场上提交的其他信息,以获得所有适用风险因素和其潜在影响的更完整讨论,其复印件可通过本公司的配置页面进行访问。
SOURCE: RE Royalties Ltd.
资讯来源:RE Royalties Ltd。