Business
BQE Water Reports Q3 2021 Results
(TheNewswire) VANCOUVER, BC – TheNewswire - November 24, 2021 ...
About this update from Bqe Water Inc
[{"type":"text","content":"BQE Water Reports Q3 2021 Results\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n VANCOUVER, BC –\n \n \n TheNewswire -\n \n \n November 24, 2021\n \n \n – BQE Water Inc. (TSXV:BQE)\n \n ,\n \n a leader in the management of mining and metallurgical\nwaste streams,\n \n is pleased to release its interim consolidated\nfinancial results for the three and nine months ended September 30,\n2021.\n \n \n “Our financial results for the nine months ended September 30, 2021\nhave again set new highs in Proportional Revenue and in Adjusted\nEBITDA, recording $11.2 million and $3.3 million respectively, which\ntranslates to a 8% and 32% increase respectively when compared to last\nyear,” stated David Kratochvil, President & CEO of BQE Water.\n“Further to our financial growth, during Q3 2021, we partnered with\nand acquired the intellectual property of Randy Agius, a global\nknowledge leader in cyanide destruction, which will allow BQE Water to\nprovide cyanide management services to complement our expertise with\nthe SART process.”\n \n \n \n \n \n FINANCIAL HIGHLIGHTS\n \n \n \n \n \n Proportional revenue for Q3 2021 was $5.5 million, a $215,000 or 4%\nincrease from $5.3 million in Q3 2020.\n \n \n \n \n Net income increased by $102,000 to $1.5 million in Q3 2021, compared\nto $1.4 million in Q3 2020.\n \n \n \n \n Adjusted EBITDA for Q3 2021 was $2.1 million compared to $2.0 million\nin Q3 2020, a $100,000 increase.\n \n \n \n \n Working capital was $4.2 million at September 30, 2021, compared to\n$3.5 million at December 31, 2020, and $2.4 million at June 30, 2021,\nrepresenting increases of 20% and 78% respectively.\n \n \n \n \n Proportional cash, which includes our share of cash held in joint\nventures, at September 30, 2021 was $7.7 million, compared to $5.2\nmillion at December 31, 2020, and $5.0 million at June 30, 2021,\nrepresenting increases of 47% and 54% respectively.\n \n \n \n \n \n \n \n OPERATIONAL SERVICES HIGHLIGHTS\n \n \n \n Our operational services consist of the operation of water treatment\nplants, which generate recurring revenues for the Company from two\nmain sources: sales of recovered metals and water treatment fees.\n \n \n \n Revenues from Sales of Recovered\nMetals\n \n \n \n The Company operates four water treatment plants that generate\nrevenues from the sale o...