Franco-Nevada Reports Strong Q2 2014 Results and Declares Quarterly Dividend

About this update from Franco-nevada Corporation

[{"type":"text","content":"\n\n\nTORONTO, Aug. 6, 2014 /CNW/ - Franco-Nevada Corporation (TSX: FNV; NYSE:\n FNV) today reported second quarter 2014 results with $107.7 million in\n revenue, an increase of 15% over second quarter 2013. In addition,\n 64,734 Gold Equivalent Ounces(1) (\"GEOs\") were earned with Net Income of $36.9 million, or $0.25 per\n share, Adjusted Net Income(2) of $36.0 million, or $0.24 per share and Adjusted EBITDA(3) of $87.2 million, or $0.59 per share.\n\n\n\"Franco-Nevada's diversified portfolio continues to provide impressive\n results.  This quarter, it was our oil & gas assets that made a\n particularly strong contribution,\" said David Harquail, CEO.  \"We\n remain a gold-focused company and in the past nine months have invested\n over $260 million, primarily in gold assets, adding over 30 new\n royalties to our portfolio.  Franco-Nevada remains financially strong,\n debt free and we expect to continue to make further investments.\"\n\n\nFinancial Results \n\n\nFor the second quarter of 2014, revenue grew to $107.7 million, an\n increase of 15%, over the second quarter of 2013. GEOs were 64,734\n representing a 15% increase over the same period of 2013. The Company\n saw growth in revenue and GEOs from recent acquisitions and higher\n production levels from Canadian, International, and Australian gold\n assets, PGM assets and other minerals, partially offset by lower\n production from U.S. gold assets. In addition, our oil & gas assets\n generated $23.7 million in revenues during the quarter, an increase of\n 30% due to a higher realized oil price and lower capital spending\n attributable to our Weyburn net royalty interest. Revenue was earned\n 74% from precious metals (61% gold and 13% PGM) and 80% from North\n America and Australia (42% Canada, 16% U.S., 17% Mexico and 5%\n Australia).\n\n\nThe breakdown of revenue and GEOs for the quarter is as follows:\n\n\n\n\n \n\n\n   \n\n\nFor the three months ended \nJune 30, 2014\n\n\n\n\n \n\n\n \n\n\n \n\n\nRevenue\n\n\n \n\n\nGEOs(1)  \n\n\n\n\n \n\n\n \n\n\n(in millions)\n\n\n \n\n\n#\n\n\n\n\nGold - United States\n\n\n \n\n\n \n\n\n$       11.2\n\n\n \n\n\n8,680\n\n\n\n\nGold - Canada\n\n\n \n\n\n \n\n\n12.4\n\n\n \n\n\n9,680\n\n\n\n\nGold ...

More updates from Franco-nevada Corporation