RE Royalties Announces Fiscal 2023 Year End Results and Highlights
RE Royalties Announces Fiscal 2023 Year End Results and Highlights
All amounts in Canadian dollars unless otherwise stated
除非另有说明,否则所有金额均以加元计算
VANCOUVER, BC / ACCESSWIRE / May 2, 2024 / RE Royalties Ltd. (TSXV: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 year ended December 31, 2023 ("FY2023"). For further information on these results please see the Company's Consolidated Financial Statements and Management's Discussion and Analysis for FY2023, filed on SEDAR+ at .
不列颠哥伦比亚省温哥华/ACCESSWIRE/2024年5月2日/可再生能源特许权使用费融资领域的全球领导者再保险特许权使用费有限公司(TSXV: RE)(OTCQX: RROYF)(“可再生能源特许权使用费” 或 “公司”)欣然宣布截至2023年12月31日止年度(“2023财年”)的财务业绩。有关这些业绩的更多信息,请参阅在SEDAR+上提交的公司合并财务报表和管理层对 FY2023 的讨论与分析,网址为。
Key financial highlights for FY2023 include:
FY2023 的主要财务亮点包括:
- Revenue and income, including the share of income from the Company's investment in OCEP for FY2023, of $9,806,000, an increase of $5,061,000 or 107% over the prior year. The increase was attributable to an increase in the number of investments during the year and a full year of revenues recognized on investments made in the prior year.
- Gross profit, including changes in fair value of financial assets and share of income in OCEP, for FY2023, of $9,521,000, an increase of $5,108,000 or 116% over the prior year.
- Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")1 for FY2023, of $2,234,000, an increase of $224,000 or 11% over the prior year. The increase was attributable to an increase in the number of investments during the year and a full year of revenues recognized on investments made in the prior year, offset by provision for expected credit losses.
- Net loss after income tax for FY2023, of $1,811,000, compared to a net loss of $434,000 in the prior year. The increase in net loss was primarily attributable to higher finance expenses from the Company's Series 3 Green Bond issuance, a provision for expected credit losses and share-based payments recognized during the year.
- Cash and cash equivalents of $14,439,932 as of December 31, 2023.
- 收入和收入,包括公司投资OCEP的 FY2023 收入份额,为9,806,000美元,比上年增长了5,061,000美元,增长了107%。增长归因于年内投资数量的增加以及上一年度的投资确认的全年收入。
- FY2023 的毛利,包括金融资产公允价值和OCEP收入份额的变动,为952.1万美元,比上年增长5,108,000美元,增长116%。
- 扣除利息、税项、折旧和摊销前的收益(“EBITDA”)1 FY2023 为2,234,000美元,比上年增长22.4万美元,增长11%。增长归因于年内投资数量的增加以及去年投资确认的全年收入,但被预期信贷损失准备金所抵消。
- FY2023 的所得税后净亏损为181.1万美元,而去年同期的净亏损为43.4万美元。净亏损的增加主要归因于公司第三系列绿色债券发行带来的财务支出增加、预期信贷损失准备金以及年内确认的基于股份的付款。
- 截至2023年12月31日,现金及现金等价物为14,439,932美元。
Key business highlights for FY2023 include:
FY2023 的主要业务亮点包括:
- In October 2023, the Company announced it entered into a loan agreement and a 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 will have a term of 36 months and bear interest at the rate of 12% per annum, compounded monthly, and payable semi-annually. The Company will receive a structuring fee of 1.0% on the Loan value at closing, and a gross revenue royalty of 0.5% on the Operating Projects during the term of the Loan, growing to a gross revenue royalty of 1.0% upon repayment of the Loan for the remaining life of the PPAs. This transaction was closed in February 2024.
- In August 2023, the Company entered into a loan agreement and a royalty agreement with Butler Corporation SpA ("CleanLight"), a Chilean technology company and manufacturer of mobile solar-battery systems including solar lighting towers and solar-hybrid battery generators. The Company provided a US$3.0 million secured loan to finance CleanLight's expansion into other countries in Latin America. The CleanLight Loan has a two-year term, and bears interest of 12% per annum. The Company also acquired a gross revenue royalty of 5% for a period of 10 years, for US$200,000. The royalty rate will reduce to 3% after certain revenue milestones are met.
- In May 2023, the Company acquired a royalty on 100MW of output from a wind project located in Alberta, Canada ("Alberta Wind Project") for $940,000 Canadian dollars. The Alberta Wind Project is owned by a major independent power producer with a power purchase agreement with a large corporate off taker. The Company will receive average annual royalty payments of approximately $132,000 per year, payable monthly for a period of 12 years.
- In February 2023, the Company acquired a gross revenue royalty on the 27 MWdc (20 MWac) Jackson Center Solar Project Phase 2 from Teichos Energy LLC ("Teichos"). The Company provided a US$1.8 million letter of credit on behalf of Teichos to meet their interconnection requirements. Teichos sold the Jackson Center Solar Project Phase 1 and 2, and subsequently repaid the outstanding loan and repurchased the royalty for US$1.15 million in May 2023.
- In April 2023, the Company completed the offering of its Series-3 Green Bonds and issued a total of 16,423 Canadian dollar denominated Green Bonds for aggregate gross proceeds of $16,423,000 and 1,242 United States dollar denominated Green Bonds for aggregate gross proceeds of US$1,242,000. The Series-3 Green Bonds will have a maturity date of January 30, 2028, and bear interest at a rate of 9% per annum, payable quarterly.
- 2023年10月,该公司宣布与Revolve Renewable Power Corp.(“Revolve”)签订了贷款协议和特许权使用费协议,以支持Revolve收购不列颠哥伦比亚省两个正在运营的径流水电项目,以及位于艾伯塔省的一个总容量为23兆瓦的运营风力项目(“运营项目”)。运营项目的收入分别来自与不列颠哥伦比亚水电公司和梅迪辛哈特市签订的水电项目和风力项目的电力购买协议(“PPA”)。运营项目有PPA,水电项目的剩余期限为32-35年,风力项目的剩余期限为11年。该贷款的期限为36个月,年利率为12%,按月复利,每半年支付一次。在贷款期限内,公司将获得贷款价值1.0%的结构化费,并在贷款期限内获得运营项目0.5%的总收入特许权使用费,在PPA的剩余期限内偿还贷款后,将增长到1.0%的总收入特许权使用费。该交易于 2024 年 2 月完成。
- 2023年8月,该公司与巴特勒公司SpA(“CleanLight”)签订了贷款协议和特许权使用费协议。巴特勒公司是一家智利科技公司,也是包括太阳能照明塔和太阳能混合电池发电机在内的移动太阳能电池系统的制造商。该公司提供了300万美元的担保贷款,为CleanLight向拉丁美洲其他国家的扩张提供资金。CleanLight贷款的期限为两年,年利息为12%。该公司还收购了为期10年的5%的总收入特许权使用费,金额为20万美元。达到某些收入里程碑后,特许权使用费率将降至3%。
- 2023年5月,该公司以94万加元的价格收购了位于加拿大艾伯塔省的一个风力项目(“艾伯塔省风力项目”)100兆瓦产量的特许权使用费。艾伯塔省风力项目由一家主要的独立电力生产商拥有,该公司与一家大型企业的承购商签订了电力购买协议。公司每年将获得约13.2万美元的平均年特许权使用费,为期12年,按月支付。
- 2023年2月,公司从Teichos Energy LLC(“Teichos”)手中收购了27兆瓦直流(20 兆瓦时)杰克逊中心太阳能项目第二阶段的总收入特许权使用费。该公司代表Teichos提供了一张180万美元的信用证,以满足其互连需求。Teichos出售了杰克逊中心太阳能项目第一和第二阶段,随后偿还了未偿贷款,并于2023年5月以115万美元的价格回购了特许权使用费。
- 2023年4月,公司完成了其第三轮绿色债券的发行,发行了总收益为16,423加元计价的绿色债券,总收益为16,423,000美元,并发行了1,242份以美元计价的绿色债券,总收益为1,242,000美元。系列3绿色债券的到期日为2028年1月30日,年利率为9%,每季度支付一次。
"Fiscal 2023 was a major milestone year for the Company. Revenue and income continued to demonstrate strong year over year growth. While net income was negatively affected by a provision for expected credit loss, our overall investment portfolio continues to remain stable despite a heightened level of uncertainty and volatility in the capital markets and economy. The collateral underpinning these investments are strong and our clients have shown the ability to deliver cash flow as expected. Our portfolio continues to generate stable, predictable, and recurring cash flows, and with our existing cash on hand, we expect to take advantage of certain near-term opportunities currently under due diligence, and to keep growing our financial performance over the coming quarters" said Bernard Tan, CEO.
“2023财年是公司具有里程碑意义的一年。收入和收入继续表现出强劲的同比增长。尽管净收入受到预期信贷损失准备金的负面影响,但尽管资本市场和经济的不确定性和波动性加剧,我们的整体投资组合仍保持稳定。支撑这些投资的抵押品非常充足,我们的客户已表现出按预期提供现金流的能力。我们的投资组合继续产生稳定、可预测和经常性的现金流,凭借我们现有的手头现金,我们预计将利用目前正在进行尽职调查的某些短期机会,并在未来几个季度的财务业绩继续增长。” 首席执行官伯纳德·陈说。
Conference Call on Friday, May 3, 2024
2024 年 5 月 3 日星期五的电话会议
Management will be hosting a fourth quarter conference call and live webcast to discuss its fourth quarter 2023 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).
管理层将主持第四季度电话会议和网络直播,讨论其2023年第四季度的业绩。管理层致开幕词后,将举行向分析师和投资者开放的问答环节。问题可以提前提交给投资者关系部的梅兰妮·亨德森(melaneehenderson@reroyalties.com)。
You can register for the webcast as follows:
您可以按以下方式注册网络直播:
Date: Friday, May 3, 2024
Time: 1:00pm PT (4:00pm ET)
Teams Link: Join the meeting here
日期:2024 年 5 月 3 日星期五
时间:太平洋时间下午 1:00(美国东部时间下午 4:00)
团队链接:在这里加入会议
Meeting ID: 247 947 733 438
Passcode: bfiCc9
Or call in (audio only): +1 778-725-6875
Phone Conference ID: 337 204 297#
会议 ID:247 947 733 438
密码:bficc9
或致电(仅限音频):+1 778-725-6875
电话会议 ID:337 204 297#
1Non-GAAP Performance Measures
1非公认会计准则绩效指标
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.
本文件包含列报的未计利息、税项、折旧和摊销前的收益(“息税折旧摊销前利润”)作为非公认会计准则财务指标。该衡量标准可能不同于其他公司使用的类似衡量标准,可能无法与其他公司报告的此类衡量标准相提并论。该公司认为,某些投资者通常将息税折旧摊销前利润与传统的国际财务报告准则指标结合使用,以增进他们对公司业绩的理解。这些衡量标准源自公司的财务报表,并始终如一地适用。非公认会计准则指标旨在提供额外信息,而不是取代国际财务报告准则衡量标准,在《国际财务报告准则》中没有标准定义,不应孤立地考虑,也不得作为根据国际财务报告准则编制的业绩衡量标准的替代品。有关每种非公认会计准则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国际财务报告准则指标的对账,载于我们的管理与分析报告中的非公认会计准则财务指标部分,该部分可在Sedar或公司网站上查阅。
About RE Royalties Ltd.
关于 RE 特许权使用费有限公司
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性融资解决方案,从可再生能源设施和技术中获得基于收入的特许权使用费。可再生能源特许权使用费是第一个将这种成熟的商业模式应用于可再生能源领域的公司。该公司目前拥有加拿大、美国、墨西哥和智利的太阳能、风能、水电、电池存储、能源效率和可再生天然气项目的100多份特许权使用费。该公司的业务目标是通过再投资为股东提供强劲的增长收益率、强劲的资本保护、高增长率以及可持续的投资重点。
For further information, please contact:
欲了解更多信息,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
梅兰妮·亨德森,投资者关系
T: (778) 373-6731 TF 800-667-2114
E: melaneehenderson@reroyalties.com
Talia Beckett, Vice President of Communications and Sustainability
T: (778) 374‐2000
E: taliabeckett@reroyalties.com
塔莉亚·贝克特,传播与可持续发展副总裁
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.
多伦多证券交易所风险交易所及其监管服务提供商(该术语在多伦多证券交易所风险交易所的政策中定义),或任何其他监管机构或证券交易平台,均不对本新闻稿的充分性或准确性承担责任。
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.
本新闻稿不构成在任何司法管辖区出售证券的要约或招揽购买证券的要约,也不得在任何司法管辖区进行任何证券的要约或出售,在这种要约、招标或出售是非法的。所发行的证券没有得到任何监管机构的批准或拒绝,也没有就短篇基础招股说明书或招股说明书补充文件的准确性或充分性转移任何此类授权。证券的发行和出售过去和将来都不会根据经修订的1933年《美国证券法》(“美国证券法”)或任何州证券法进行登记,并且不得在美国发行或出售给没有注册或未获得《美国证券法》和适用州证券法注册要求适用豁免的美国人。
Forward Looking Statements
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 .
前瞻性陈述
本新闻稿包括加拿大证券法所指的与公司有关的前瞻性信息和前瞻性陈述(统称为 “前瞻性信息”)。前瞻性信息通常由诸如:相信、期望、预期、打算、估计、假设和类似的表达方式等词语来识别,或者是那些本质上指未来事件的词语。这些信息代表预测,实际事件或结果可能存在重大差异。前瞻性信息可能与公司的未来前景和预期事件或业绩有关,可能包括有关公司财务业绩、未来财务状况、预期现金流增长、业务战略、预算、预计成本、预计资本支出、税收、计划、目标、行业趋势和包括融资在内的增长机会的陈述。请读者参阅公司最近在SEDAR上提交的文件以及向场外交易市场提交的其他信息,以更全面地讨论所有适用的风险因素及其潜在影响,这些文件的副本可通过公司的简介页面查阅,网址为:
SOURCE: RE Royalties Ltd.
来源:RE Royalties Ltd.