Synex Renewable Energy Corporation First Quarter of Fiscal 2025
Synex Renewable Energy reported financial results for Q1 2025 (ended September 30, 2024). Revenue increased to $209,945 from $139,085 in Q1 2024, with electricity sales rising to $78,600 from $11,096. The company reduced its net loss to $368,785 from $745,899 year-over-year. The company invested $701,229 in wind license development at Sea Breeze Power Corp. Cash position improved to $274,326 from $117,362 in June 2024, supported by a short-term loan from Russell Industries Corp. Total loan principal outstanding was $13,041,482.
Synex Renewable Energy ha riportato i risultati finanziari per il primo trimestre del 2025 (conclusosi il 30 settembre 2024). I ricavi sono aumentati a $209,945 rispetto a $139,085 nel primo trimestre del 2024, con le vendite di elettricità che sono salite a $78,600 da $11,096. L'azienda ha ridotto la sua perdita netta a $368,785 rispetto a $745,899 anno su anno. L'azienda ha investito $701,229 nello sviluppo di licenze eoliche presso Sea Breeze Power Corp. La posizione di cassa è migliorata a $274,326 da $117,362 a giugno 2024, sostenuta da un prestito a breve termine da Russell Industries Corp. Il totale del capitale del prestito in essere era di $13,041,482.
Synex Renewable Energy reportó resultados financieros para el primer trimestre de 2025 (finalizado el 30 de septiembre de 2024). Los ingresos aumentaron a $209,945 desde $139,085 en el primer trimestre de 2024, con las ventas de electricidad subiendo a $78,600 desde $11,096. La compañía redujo su pérdida neta a $368,785 desde $745,899 en comparación con el año anterior. La compañía invirtió $701,229 en el desarrollo de licencias eólicas en Sea Breeze Power Corp. La posición de efectivo mejoró a $274,326 desde $117,362 en junio de 2024, respaldada por un préstamo a corto plazo de Russell Industries Corp. El total del capital del préstamo pendiente era de $13,041,482.
Synex Renewable Energy는 2025년 1분기 재무 실적(2024년 9월 30일 종료)을 발표했습니다. 매출은 2024년 1분기 $139,085에서 $209,945로 증가했으며, 전기 판매는 $11,096에서 $78,600으로 상승했습니다. 회사는 연간 기준으로 순손실을 $745,899에서 $368,785로 줄였습니다. 회사는 Sea Breeze Power Corp.의 풍력 라이선스 개발에 $701,229를 투자했습니다. 현금 위치는 2024년 6월의 $117,362에서 $274,326으로 개선되었으며, 이는 Russell Industries Corp.의 단기 대출에 의해 지원되었습니다. 대출 원금 잔액은 $13,041,482였습니다.
Synex Renewable Energy a publié les résultats financiers pour le premier trimestre 2025 (terminé le 30 septembre 2024). Les revenus ont augmenté à $209,945 contre $139,085 au premier trimestre 2024, les ventes d'électricité ayant grimpé à $78,600 contre $11,096. L'entreprise a réduit sa perte nette à $368,785 contre $745,899 d'une année sur l'autre. L'entreprise a investi $701,229 dans le développement de licences éoliennes chez Sea Breeze Power Corp. La position de liquidités s'est améliorée à $274,326 contre $117,362 en juin 2024, soutenue par un prêt à court terme de Russell Industries Corp. Le montant total des prêts en principal restant était de $13,041,482.
Synex Renewable Energy hat die finanziellen Ergebnisse für das erste Quartal 2025 (zum Ende des 30. September 2024) veröffentlicht. Der Umsatz stieg auf $209,945 von $139,085 im ersten Quartal 2024, wobei die Stromverkäufe auf $78,600 von $11,096 anstiegen. Das Unternehmen reduzierte seinen Nettoverlust auf $368,785 von $745,899 im Jahresvergleich. Das Unternehmen investierte $701,229 in die Entwicklung von Windlizenz bei Sea Breeze Power Corp. Die Liquidität verbesserte sich auf $274,326 von $117,362 im Juni 2024, gestützt durch ein kurzfristiges Darlehen von Russell Industries Corp. Der gesamte ausstehende Darlehenshauptbetrag betrug $13,041,482.
- Revenue increased 51% year-over-year to $209,945
- Electricity sales grew by 608% to $78,600
- Net loss reduced by 51% to $368,785
- Cash position improved by 134% to $274,326
- Company reported net loss of $368,785
- Significant debt burden with $13,041,482 in loans outstanding
- Required additional short-term loan from related party to improve cash position
Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - Synex Renewable Energy Corporation (TSX: SXI) (the "Company" or "Synex") announced its financial and operational results for the three months ended September 30, 2024.
For the three months ended September 30, 2024 ("Q1 2025"), revenue increased to
The net loss attributable to shareholders of the Company for Q1 2025 was
The Company spent a total of
As of September 30, 2024, the Company had an unrestricted cash balance of
The total loan principal outstanding to The Equitable Life Insurance Company of Canada and The Empire Life Insurance Company was
About Synex Renewable Energy Corporation
Synex is a Vancouver, British Columbia based company engaged in the development, acquisition, ownership, and operation of renewable energy projects in Canada. It has ownership interests in 12 MW of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The Company also has 9.4 MW of construction ready run-of-river projects, applications, and land tenures on another 24 potential hydroelectric sites totaling over 150 MW of capacity, and approximately 16 wind development sites that could provide up to 4,700 MW of clean power in British Columbia. For further information, visit www.synex.com.
For media inquiries, please contact:
Daniel J. Russell
President & CEO, Synex Renewable Energy Corporation.
4248 Broughton Avenue, Niagara Falls, ON L2E 3K6
Phone (905) 329-5000
E-mail: daniel.russell@synex.com
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Synex's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Synex's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved", including the potential electricity output for the Company's wind projects.
By identifying such information and statements in this manner, Synex is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Synex has made certain assumptions. Although Synex believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company's annual information form dated September 27, 2024 and available on the Company's profile at www.sedarplus.ca. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Synex does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Synex or persons acting on its behalf is expressly qualified in its entirety by this notice.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228997
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