Business
Franco-Nevada Reports Record Q2 and H1 Results; 2021 Guidance Increased
2021 Guidance Increased (in U.S. dollars unless otherwise noted) TORONTO, Aug. 11, 2021 /CNW/ - "Franco-Nevada is on track to achieve record results in 2021,
About this update from Franco-nevada Corporation
[{"type":"text","content":" 2021 Guidance Increased (in U.S. dollars unless otherwise noted) TORONTO, Aug. 11, 2021 /CNW/ - \"Franco-Nevada is on track to achieve record results in 2021, thanks to both organic growth and the acquisitions completed in the first half of the year. The diversified portfolio performed well in the second quarter and, with the first Vale Royalty Debenture contribution, delivered record GEOs, revenue, Adjusted EBITDA and Adjusted Net Income\", stated Paul Brink, President & CEO. \"Franco-Nevada generated Adjusted EBITDA of $290.0 million in the quarter, has no debt and has $197.7 million in cash and cash equivalents. Our revenue-based business model is particularly attractive during periods of industry cost inflation, as reflected in earnings, Adjusted EBITDA and Margins that are at or close to record highs. We have raised the bottom end of our GEOs sold guidance and, with the recovery in energy prices, have materially increased our Energy revenue guidance for the year.\" H1/2021 Q2/2021 Record H1 results vs Record Q2 results vs H1/2020 Q2/2020 GEOs1 sold 316,431 +32% 166,856 +60% Revenue $656 million +50% $347.1 million +78% Net income $346.8 million ($1.82/share) +$351.2 million $175.3 million ($0.92/share) +86% Adjusted Net Income2 $343.5 million ($1.80/share) +71% $182.6 million ($0.96/share) +99% Adjusted EBITDA3 $552.7 million +58% $290 million +83% Margin4 84.3% +5% 83.5% +3% Strong Financial Position No debt and $1.4 billion in available capital as at June 30, 2021 Generated $245.2 million in operating cash flow for the quarter Quarterly dividend of $0.30/share Sector-Leading ESG Ranked #1 gold company by Sustainalytics, AA by MSCI and Prime by ISS ESG Committed to the World Gold Council's \"Responsible Gold Mining Principles\" Contributing to help communities through the COVID-19 crisis Goal of 40% diverse representa...