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Franco-Nevada Reports Q1 2024 Results; Gold Prices Fuel Margin Expansion
Gold Prices Fuel Margin Expansion (in U.S. dollars unless otherwise noted) TORONTO, May 1, 2024 /CNW/ - "Our diversified portfolio performed well and
About this update from Franco-nevada Corporation
[{"type":"text","content":" Gold Prices Fuel Margin Expansion (in U.S. dollars unless otherwise noted) TORONTO, May 1, 2024 /CNW/ - \"Our diversified portfolio performed well and production for the quarter met expectations. Elevated gold prices translated directly into some of our highest ever margins,\" stated Paul Brink, CEO. \"Salares Norte commenced production during the quarter and Greenstone and Tocantinzinho are on track for first production in the coming months. Alamos' planned acquisition of Argonaut will help realize the full potential of the Magino and Island Gold deposits. While Cobre Panama remains on preservation and safe management, we are hopeful that the issues can be resolved. Franco-Nevada has no debt, $2.3B in available capital and has an active deal pipeline.\" Q1 2024 Q1 2024 results vs Q1 2023 Total GEOs1 sold 122,897 GEOs -15 % Precious Metal GEOs1 sold 93,018 GEOs -16 % Revenue $256.8 million -7 % Net income $144.5 million ($0.75/share) -8 % Adjusted Net Income2 $146.0 million ($0.76/share) -4 % Adjusted Net Income Margin2 56.9 % +3 % Adjusted EBITDA2 $216.1 million ($1.12/share) -6 % Adjusted EBITDA Margin2 84.2 % +1.4 % Strong Financial Position No debt and $2.3 billion in available capital as at March 31, 2024 Operating cash flow of $178.6 million in Q1 2024 Quarterly dividend increased 5.88% to $0.36/share effective Q1 2024 Sector-Leading ESG Rated #1 precious metals company and #1 gold company by Sustainalytics, AA by MSCI and Prime by ISS ESG Committed to the World Gold Council's Responsible Gold Mining Principles Partnering with our operators on community and ESG initiatives 40% diverse representation at the Board and top leadership levels as a group Diverse, Long-Life Portfolio Most diverse royalty and streaming portfolio by asset, operator and country Attractive mix of long-life streams and high optionality royalties Long-life mineral resources and mineral reserves Growth and Optionality Mine expansions and new mines driving 5-year growth prof...