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Green Impact Partners Announces 2024 Fiscal Results and Provides Corporate Update
Calgary, Alberta--(Newsfile Corp. - May 1, 2025) - Green Impact Partners Inc. (TSX: GIP) ("GIP" o...
About this update from Green Impact Partners Inc
[{"type":"text","content":"Green Impact Partners Announces 2024 Fiscal Results and Provides Corporate UpdateCalgary, Alberta--(Newsfile Corp. - May 1, 2025) - Green Impact Partners Inc. (TSX: GIP) (\"GIP\" or the \"Company\") today reports its results for the year ended December 31, 2024, and as of the date of this news release.FINANCIAL HIGHLIGHTS (in thousands of dollars, except per share data)For the three months ended December 31, 2024For the three months ended December 31, 2023IFRS FINANCIAL MEASURESRevenue36,97037,390   NON-IFRS MEASURESAdjusted EBITDA1(502)(207) (in thousands of dollars, except per share data)For the Year Ended December 31, 2024For the Year Ended December 31, 2023IFRS FINANCIAL MEASURESRevenue145,022161,162   NON-IFRS MEASURESAdjusted EBITDA1(2,070)(209)1 See Non-IFRS Measures belowRevenue: Revenues were $145.0 million for fiscal 2024 compared to $161.2 million in fiscal 2023. The Company's Energy Product Optimization Services revenue decreased $16.3 million or 12% compared to the same period in 2023. This is due to a combination of a 10% decrease in volumes sold in conjunction with a 3% decrease in benchmark oil prices period over period. The weighted average price sold was $608.73/m3 for the year ended December 31, 2024, as compared to $627.81/m3 for the same period in 2023. Fee for service revenue increased $0.2 million or 1% compared to the same period in 2023. This is due to a 6% increase in water treatment and disposal revenue as a result of a 15% increase in volumes processed. Fee for service solids disposal and recycling revenue decreased 4% as a result of a 25% decrease in volume processed. This is due to the composition of the differences between the Company's two solids disposal and recycling sites where one of the sites with the lower revenue per unit experienced a 26% decrease in volumes. However, 25% of solids revenue is attributable to this facility while it comprises 97% of the overall volume for the segment. Meanwhile, the other solids disposal and recycling site, which accounts for 75% of the solid's revenue with only 3% of the overall volume contribution, experienced a 2% decrease in volume and a 1% decrease in revenue over the same period due mainly to timing. Each site processes different materials and therefore have different underlying pricing for their services.Adjusted EBI...