Altius Renewable Royalties Reports Q4 Expected Attributable Royalty Revenue(1) of US$0.9 million, Full Year Royalty Revenue of US$3.6 million
Altius Renewable Royalties Corp. (OTCQX: ATRWF) anticipates reporting Q4 2022 attributable royalty revenue of $0.9 million, up from $0.2 million in Q4 2021. Full-year revenue reached $3.6 million, a significant increase from $0.3 million in 2021, driven by new operating royalties. The joint venture Great Bay Renewables (GBR) generated $7.3 million in revenue, exceeding its guidance of $6.5-$7.0 million. The company plans to release 2023 revenue guidance on March 1, 2023. CEO Frank Getman noted increased demand for GBR’s renewable royalty model and highlighted recent project acquisitions in California and Texas.
- Q4 2022 royalty revenue expected to be $0.9 million, a significant increase from $0.2 million in Q4 2021.
- Full-year 2022 revenue increased to $3.6 million from $0.3 million in 2021.
- Great Bay Renewables' revenue of $7.3 million exceeded guidance of $6.5-$7.0 million.
- None.
All $ references in US unless otherwise indicated
ST. JOHN’S,
Fourth Quarter and Year-End Financial Results Conference Call and Webcast Details
Fourth quarter and year-end financial results will be announced by press release
Date and time:
Toll Free Dial-In Number: +1 888 886 7786
International Dial-In Number: +1 416 764 8658
Conference Call Title and ID: ARR Q4 and Year-End 2022 Financial Results, ID 93453652
Webcast Link: ARR Q4 and Year-End 2022 Financial Results
Non‐GAAP financial measures
† Attributable royalty revenue is a non‐GAAP financial measure. Management uses non-GAAP financial measures to monitor the financial performance of the Corporation 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, which are available at https://www.arr.energy.
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 33 renewable energy royalties representing approximately 1.4 GW of renewable power on operating projects and an additional approximate 6 GW on projects in development phase, across several regional power pools 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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