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Franco-Nevada Reports 2022 Results; Diversified Portfolio Outperformed
Diversified Portfolio Outperformed (in U.S. dollars unless otherwise noted) TORONTO, March 15, 2023 /CNW/ - "Franco-Nevada is reporting strong fourth quarter
About this update from Franco-nevada Corporation
[{"type":"text","content":" Diversified Portfolio Outperformed (in U.S. dollars unless otherwise noted) TORONTO, March 15, 2023 /CNW/ - \"Franco-Nevada is reporting strong fourth quarter and annual results for 2022. Our Diversified assets outperformed due to elevated energy prices in the year, stated Paul Brink, CEO. We are pleased that First Quantum and the Government of Panama have agreed on terms for a refreshed concession contract and look forward to Cobre Panama achieving its expanded throughput capacity later this year. Precious metal GEOs and Diversified production in 2023 are expected to be consistent with 2022. We are however guiding to lower total GEOs for the year as current energy prices are below 2022 levels. The organic growth in our 5 year outlook comes from both mine expansions and new mines. Franco-Nevada is debt-free, is growing its cash balances and has an active pipeline of growth opportunities.\" Q4 2022 2022 Q4 results vs Annual results vs Q4 2021 2021 Total GEOs1 sold (including Energy) 183,886 GEOs +1 % 729,960 GEOs +0.2 % Precious Metal GEOs1 sold 129,642 GEOs -7 % 510,385 GEOs -9 % Revenue $320.4 million -2 % $1,315.7 million +1 % Net income $165.0 million ($0.86/share) -25 % $700.6 million ($3.66/share) +5 % Adjusted Net Income2 $164.9 million ($0.86/share) +1 % $697.6 million ($3.64/share) +4 % Adjusted EBITDA2 $262.4 million ($1.37/share) -3 % $1,106.9 million ($5.78/share) +1 % Adjusted EBITDA Margin2 81.9 % -0.5 % 84.1 % +0.1 % Strong Financial Position Earned record GEOs, revenue, Adjusted Net Income, Adjusted EBITDA and operating cash flow in 2022 No debt and $2.2 billion in available capital as at December 31, 2022 Generated close to $1 billion in operating cash flow in 2022 Quarterly dividend increased 6.25...