Synex Renewable Energy Corporation Fourth Quarter of Fiscal 2024
Synex Renewable Energy (TSX: SXI) has released its financial results for Q4 2024, ending June 30, 2024. The company reported a decrease in revenue to $643,194 from $713,649 in Q4 2023. Electricity sales dropped to $584,140, down from $731,698 in the previous year, primarily due to lower precipitation. The company recorded a net loss of $482,192, compared to a $209,980 loss in Q4 2023, mainly attributed to reduced power generation caused by unfavorable weather conditions.
Synex invested $648,566 in developing investigative wind licenses at Sea Breeze Power Corp. The company's unrestricted cash balance decreased to $117,362 from $318,663 year-over-year, largely due to fixed asset upgrades and maintenance work. Total loan principal outstanding was $13,080,196 as of June 30, 2024, down from $13,715,388 the previous year.
Synex Renewable Energy (TSX: SXI) ha pubblicato i risultati finanziari per il Q4 2024, che si è concluso il 30 giugno 2024. L'azienda ha riportato una diminuzione dei ricavi a $643,194 rispetto ai $713,649 del Q4 2023. Le vendite di elettricità sono scese a $584,140, in calo rispetto ai $731,698 dell'anno precedente, principalmente a causa di minori precipitazioni. L'azienda ha registrato una perdita netta di $482,192, rispetto a una perdita di $209,980 nel Q4 2023, principalmente attribuibile alla riduzione della generazione di energia causata da condizioni meteorologiche sfavorevoli.
Synex ha investito $648,566 nello sviluppo di licenze eoliche investigative presso la Sea Breeze Power Corp. Il saldo di cassa non vincolato dell'azienda è diminuito a $117,362 rispetto ai $318,663 dell'anno precedente, principalmente a causa di aggiornamenti e manutenzione degli asset fissi. Il totale dei prestiti in essere ammontava a $13,080,196 al 30 giugno 2024, in calo rispetto ai $13,715,388 dell'anno precedente.
Synex Renewable Energy (TSX: SXI) ha publicado sus resultados financieros para el Q4 2024, que finalizó el 30 de junio de 2024. La empresa reportó una disminución en los ingresos a $643,194 desde $713,649 en el Q4 2023. Las ventas de electricidad cayeron a $584,140, bajando de $731,698 en el año anterior, principalmente debido a menores precipitaciones. La compañía registró una pérdida neta de $482,192, en comparación con una pérdida de $209,980 en el Q4 2023, atribuida principalmente a la reducción de la generación de energía a causa de condiciones meteorológicas desfavorables.
Synex invirtió $648,566 en el desarrollo de licencias eólicas de investigación en Sea Breeze Power Corp. El saldo de efectivo no restringido de la empresa disminuyó a $117,362 desde $318,663 año tras año, principalmente debido a las actualizaciones y trabajos de mantenimiento de activos fijos. El total del principal de préstamos pendientes era $13,080,196 al 30 de junio de 2024, una disminución desde $13,715,388 el año anterior.
Synex Renewable Energy (TSX: SXI)는 2024년 6월 30일 종료되는 2024년 4분기 재무 결과를 발표했습니다. 회사는 수익이 $643,194로 감소한 반면, 2023년 4분기에는 $713,649였습니다. 전력 판매는 $584,140으로 감소했으며, 이는 지난해 $731,698에서 감소한 수치로, 주로 강수량 감소로 인한 것입니다. 회사는 $482,192의 순손실을 기록했습니다, 2023년 4분기에는 $209,980의 손실을 기록했으며, 이는 불리한 기상 조건으로 인한 전력 생산 감소에 주로 기인합니다.
Synex는 Sea Breeze Power Corp에서 $648,566를 조사적 풍력 라이센스 개발에 투자했습니다. 회사의 제한 없는 현금 잔액은 $117,362로 감소했습니다, 전년 대비 $318,663에서 줄어든 수치이며, 이는 주로 고정 자산의 업그레이드 및 유지 보수 작업 때문입니다. 2024년 6월 30일 기준 총 대출 원금 잔액은 $13,080,196로, 지난해의 $13,715,388에서 감소했습니다.
Synex Renewable Energy (TSX: SXI) a publié ses résultats financiers pour le 4ème trimestre 2024, se terminant le 30 juin 2024. L'entreprise a annoncé une baisse des revenus à $643,194 contre $713,649 au 4ème trimestre 2023. Les ventes d'électricité ont chuté à $584,140, en baisse par rapport à $731,698 l'année précédente, principalement en raison d'une baisse des précipitations. L'entreprise a enregistré une perte nette de $482,192, par rapport à une perte de $209,980 au 4ème trimestre 2023, principalement attribuée à la réduction de la production d'énergie causée par des conditions météorologiques défavorables.
Synex a investi $648,566 dans le développement de licences éoliennes d'investigation auprès de Sea Breeze Power Corp. Le solde de trésorerie non restreint de l'entreprise a diminué à $117,362 par rapport à $318,663 d'une année sur l'autre, principalement en raison des mises à niveau d'actifs fixes et des travaux de maintenance. Le principal total des prêts en cours était de $13,080,196 au 30 juin 2024, en baisse par rapport à $13,715,388 l'année précédente.
Synex Renewable Energy (TSX: SXI) hat seine finanziellen Ergebnisse für das 4. Quartal 2024 veröffentlicht, das am 30. Juni 2024 endet. Das Unternehmen berichtete von einem Rückgang des Umsatzes auf $643,194 von $713,649 im 4. Quartal 2023. Der Stromverkauf fiel auf $584,140, gegenüber $731,698 im Vorjahr, hauptsächlich aufgrund geringerer Niederschläge. Das Unternehmen verzeichnete einen Nettoverlust von $482,192, verglichen mit einem Verlust von $209,980 im 4. Quartal 2023, was hauptsächlich auf die reduzierte Stromerzeugung durch ungünstige Wetterbedingungen zurückzuführen ist.
Synex investierte $648,566 in die Entwicklung von Lizenzanträgen für Windkraft bei der Sea Breeze Power Corp. Der nicht gebundene Kassenbestand des Unternehmens sank auf $117,362 von $318,663 im Vorjahr, was hauptsächlich auf Investments in feste Vermögenswerte und Wartungsarbeiten zurückzuführen ist. Die ausstehenden Darlehenshauptbeträge beliefen sich zum 30. Juni 2024 auf $13,080,196, ein Rückgang von $13,715,388 im Vorjahr.
- Continued investment of $648,566 in developing investigative wind licenses to support BC Hydro's Clean Power Call
- Reduction in total loan principal outstanding to $13,080,196 from $13,715,388 year-over-year
- Revenue decreased to $643,194 from $713,649 in Q4 2023
- Electricity sales dropped to $584,140 from $731,698 in Q4 2023
- Net loss increased to $482,192 from $209,980 in Q4 2023
- Unrestricted cash balance decreased to $117,362 from $318,663 year-over-year
Vancouver, British Columbia--(Newsfile Corp. - September 30, 2024) - Synex Renewable Energy Corporation (TSX: SXI) (the "Company" or "Synex") announced its financial and operational results for the three months ended June 30, 2024.
For the three months ended June 30, 2024 ("Q4 2024"), revenue decreased to
The net loss attributable to shareholders of the Company for Q4 2024 was
The Company spent a total of
As of June 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 17 wind development sites that could provide up to 4,850 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 28, 2023 and available on the Company's profile at www.sedar.com . 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.
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