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
除非另有說明,否則所有金額均爲加元。
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 .
卑詩省溫哥華/ ACCESSWIRE/2024年5月30日/RE Royalties Ltd. (tsx.v:RE) (OTCQX:RROYF) ("RE Royalties" or the "Company"),是可再生能源版權融資的全球領導者,很高興地宣佈了截至2024年3月31日(Q1 2024)的第一季財務結果。有關這些結果的詳細信息,請參閱公司在Sedar+上提交的Q1 2024精簡合併財務報表和管理層討論與分析。
Key financial highlights for Q1 2024 include:
Q1 2024的重要財務亮點包括:
- 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日結束的三個月的季度收入和收益爲2,637,000美元,比去年同期增加813,000美元或45%。增長歸因於過去12個月內投資數量的增加。
- 包括金融資產公允價值變動的季度毛利潤爲2,538,000美元,比去年同期增加785,000美元或45%。
- 2024年Q1季度的息稅前利潤,折舊和攤銷(“EBITDA”)爲1,797,000美元,比去年同期增加451,000美元或34%。
- 2024年Q1季度淨利潤爲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,現金及現金等價物達到14,614,000美元,包括限制性現金。
Key business highlights for Q1 2024 include:
Q1 2024業務要點包括:
- 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,公司與Clean Communities Corporation(“CCC”),一家位於艾伯塔省的印第安人領導的清潔能源公司,簽訂了一份1.7百萬美元的擔保貸款協議(CCC Loan),以支持在艾伯塔省卡斯頓(Cardston)建造一個4兆瓦太陽能項目(Sunrise Solar)。CCC貸款期限爲60個月,年利率爲13%,按月計息。公司將獲得Sunrise Solar的毛收入版稅,其比例爲5.0%,在商業運營後的20年內。
- 2024年2月,公司與Revolve Renewable Power Corp. ("Revolve")簽訂了貸款和版稅協議,以支持Revolve的收購兩個位於卑詩省運河池和一個位於艾伯塔省的風電項目組合,總容量爲23兆瓦(“Operational Projects”)。Operational Projects通過與卑詩省水力公司和梅迪辛哈特市簽訂的購電協議獲得收入。水電項目和風電項目的購電協議剩餘期限分別爲32-35年和11年。貸款期限爲36個月,利率爲12%的年利率,按月複利,半年付款。公司在貸款金額結清時獲得1.0%的結構性費用,並在貸款期內持有操作項目的毛收入版稅0.5%,在購電協議剩餘期限內升至毛收入版稅1.0%。
- 2024年3月,公司與Revolve簽訂了一項415,000美元的擔保貸款協議(“Revolve DG Loan”),以支持其繼續進軍墨西哥分佈式發電市場。Revolve DG Loan將用於資助在墨西哥中部一個食品製造企業客戶的廣場上建造一個450千瓦的屋頂太陽能項目(“Project”)。該項目將從Revolve和客戶之間的15年購電協議中獲得收入。Revolve DG Loan的期限爲兩年,以該項目的資產爲抵押,利率爲12%,按季支付,Revolve在總貸款價值上支付了1%的徵收費。Revolve從Project收取的所有收入將繳納5%的毛收入版稅,在購電協議的15年期限內適用。
- 2024年3月,公司從Nomad Transportable Power Systems Inc.("NOMAD")收到了5.6萬美元的五年期美元優先擔保流動資本貸款(NOMAD Loan)的提前償還。根據協議的條款,NOMAD把這個貸款用於製造移動儲能系統(“Units”),包括NOMAD Traveler(2兆瓦小時)和NOMAD Voyager(1.2兆瓦小時)。NOMAD貸款已全額還清,包括任何未償還的利息。RE Royalties將繼續從出售42兆瓦小時NOMAD的Units中獲得3.5%的毛收入版稅。這將爲RE Royalties提供持續的收入流,因爲NOMAD的電池系統繼續在市場上發揮作用。
"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繼續延續了我們的強勁趨勢,增長我們的收入和收益、EBITDA和現金流。儘管過去幾個季度資本市場疲軟,但我們的投資組合仍然產生穩定、有回報和抗風險的現金流。我們擁有現金存款並擁有強大的特許權投資機會積壓在管廊下,我們期望在未來的季節繼續建立我們最近的成功。”
Conference Call on Friday, May 31, 2024
2024年5月31日星期五電話會議
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).
管理層將主持第一季度電子會議和現場網絡廣播,討論其Q1 2024財務結果。在管理層的開場白之後,分析人士和投資者將有提問時間。問題可以事先提交給投資者關係總監Melanee Henderson(melaneehenderson@reroyalties.com)。
You can register for the webcast as follows:
您可以按以下方式註冊網絡廣播:
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
時間:下午1:00 PT(下午4:00 ET)
團隊鏈接:從這裏註冊
Meeting ID: 252 561 584 433
Passcode: Jdws7k
Or call in (audio only): +1 778-725-6875
Phone Conference ID: 548 108 969#
會議ID:252 561 584 433
密碼:Jdws7k
或僅撥打電話:+1 778-725-6875
電話會議ID:548 108 969#
1Non-GAAP Performance Measures
1非GAAP績效指標
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財務指標Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA")作爲介紹的內容。這個指標與其他公司使用的類似指標可能有所不同,並且可能無法與之進行比較。該公司認爲,某些投資者通常會將EBITDA與常規IFRS指標結合使用,以增強對公司業績的理解。這些指標已從公司的財務報表中衍生,並按照一致的基礎應用。非GAAP指標旨在提供其他信息,而不是代替IFRS指標,並且在IFRS指標體系下沒有標準定義,不應孤立考慮或作爲按照IFRS準備的業績數據的替代品。關於每個非GAAP財務指標的組成和有用性的更多信息,包括與其最直接可比的IFRS指標的對應關係,均包括在我們的MD&A的非GAAP財務指標部分中,這些部分可在Sedar+上或本公司的網站上找到。
About RE Royalties Ltd.
關於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.通過向可再生能源領域的私營和上市公司提供非稀釋融資解決方案,收購基於收益的特許權。RE Royalties是第一個將這種經過驗證的商業模式應用於可再生能源行業的公司。該公司目前在加拿大、美國、墨西哥和智利擁有100多個太陽能、風力、水力、電池儲能、能源效率和可再生天然氣項目的特許權。公司的業務目標是爲股東提供強勁的收益增長、強大的資本保護、高速成長通過再次投資以及可持續性投資重心。
For further information, please contact:
如需更多信息,請聯繫:
Investor and Media Contact:
投資者和媒體聯繫人:
Melanee Henderson, Investor Relations
T: (778) 373-6731 TF 800-667-2114
E: melaneehenderson@reroyalties.com
Melanee Henderson,投資者關係
T:(778) 373-6731 免費電話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,通信和可持續性副總裁
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和其監管服務提供商(如TSX Venture Exchange政策中所定義的),以及其他監管機構或證券交易平台均不對此發佈的充足性或準確性負責。
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.
此新聞稿不構成在任何司法管轄區內出售或要約買入證券,也不得以任何該等司法管轄區不得以任何該等出售、要約或銷售的情況下出售該證券。所要發行的證券尚未獲得任何監管機構的批准或駁回,也沒有任何此類機構審核短表格基礎層架構說明書或招股書補充說明書的準確性或充足性。該證券的發售和銷售未在1933年修訂版《美國證券法》或任何州證券法中進行註冊,也不得在未進行註冊或符合美國證券法和適用州證券法的註冊要求的豁免情況下,在美國境內或向美國人出售或出售。
Forward Looking Statements
前瞻性聲明
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 .
此新聞稿包括關於公司的前瞻性信息和前瞻性聲明(統稱爲“前瞻性信息”),屬於加拿大證券法的涵義。前瞻性信息通常由這些詞彙標識出來:相信、期望、預期、打算、估計、推斷和類似詞彙,或者是那些因其本質而指向未來事件的表達方式。這些信息所代表的預測可能與實際事件或結果有所不同。前瞻性信息可能涉及公司的未來前景和預期事件或結果,可能包括有關公司財務結果、未來的財務狀況、預期的現金流增長、業務戰略、預算、預計的成本、預計的資本支出、稅收、計劃、目標、行業趨勢和增長機會,包括融資。請參閱投資斯多克交易所上公司的最新備案和提交的文件,以及OTC市場上提交的其他信息,以獲得所有適用風險因素和其潛在影響的更完整討論,其複印件可通過本公司的配置頁面進行訪問。
SOURCE: RE Royalties Ltd.
資訊來源:RE Royalties Ltd。