Altius Renewable Royalties Reports Q2 2022 Financial Results
Altius Renewable Royalties Corp. (OTCQX: ATRWF) reported its Q2 2022 financial results with attributable revenue of
- Attributable revenue increased to $0.7 million in Q2 2022, up from $0.07 million in Q2 2021.
- Reaffirmed 2022 revenue guidance at $4.5 million to $5.5 million.
- Cash reserves of $61.9 million enhance financial stability.
- Net loss of $0.5 million in Q2 2022, though improved from prior year.
All $ references in US unless otherwise indicated
ST. JOHN’S,
For the quarter ended
Based on the performance of the Company’s operating royalties to date and the expectations for production and pricing for the remainder of the year, the Company wishes to reaffirm guidance for 2022 revenue at the Great Bay Renewables (“GBR”) level of
During the three and six months ended
New Royalty Investments
On
As of
Commenting on the quarter and recently announced transactions,
Non-GAAP Financial Measures
- Management uses the following non-GAAP financial measures: attributable revenue, attributable royalty revenue, and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA).
- Management uses these measures to monitor the financial performance of the Corporation and its operating segments and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace International Financial Reporting Standards (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. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies. 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.
Conference Call Details
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ARR Q2 2022 Financial Results, ID 3043354 |
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About ARR
ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 16 renewable energy royalties representing 3,510 MW of renewable power, diversified by wind, solar, stage of development or operations and regional power pool in the
Forward-looking information
This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
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Email: Flora@arr.energy
Tel: 1.877.576.2209
Direct: 1.416.346.9020
Email: Ben@arr.energy
Tel: 1.877.576.2209
Source:
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