Business
Osisko Gold Royalties Reports Record 2022 Results and Provides 2023 Guidance and 5-Year Outlook
Record cash margin of $201.7 million Record operating cash flows from continuing operations of $175.1 million MONTRÉAL, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Osisko
About this update from Or Royalties Inc.
[{"type":"text","content":" Record cash margin of $201.7 million Record operating cash flows from continuing operations of $175.1 million MONTRÉAL, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the fourth quarter and full year 2022, and provided guidance for 2023 as well as its updated 5-year growth outlook. Amounts presented are in Canadian dollars, except where otherwise noted. 2022 Financial Highlights Deconsolidation of Osisko Development Corp. (“Osisko Development”) as of September 30, 2022 and presentation of its results as discontinued operations on the consolidated statements of loss and the consolidated statements of cash flows; 89,367 GEOs1 earned, an annual record and an increase of 12% over 2021 (80,000 GEOs); Record revenues from royalties and streams of $217.8 million (2021 – $199.6 million; $224.9 million including offtakes); Record cash flows generated by operating activities from continuing operations of $175.1 million (2021 – $153.2 million); Record cash margin2 from royalties and streams of $201.7 million or 93% (2021 – $186.3 million or 93%; $187.2 million including offtakes); Net earnings from continuing operations of $85.3 million, or $0.47 per share (2021 – $76.6 million or $0.46 per basic share); and Record adjusted earnings2 of $111.3 million, or $0.62 per basic share (2021 – $94.4 million, $0.56 per basic share). Q4 2022 Financial Highlights 25,023 GEOs1 earned, a quarterly record (Q4 2021 – 19,830 GEOs); Record quarterly revenues from royalties and streams of $61.9 million (Q4 2021 – $50.7 million); Cash flows generated by operating activities from continuing operations of $48.5 million (Q4 2021 – $35.1 million); Record quarterly cash margin2 from royalties and streams of $57.2 million or 92% (Q4 2021 – $47.0 million or 93%); Net earnings from continuing operations of $22.4 million, or $0.12 per share (Q4 2021 – $21.2 million or $0.13 per basic share); and Record quarterly adjusted earnings2 of $34.9 million, or $0.19 per basic share (Q4 2021 – $23.8 million, $0.14 per basic share). Sandeep Singh, President and CEO of Osisko commented: “As discussed in our Q4 2022 preliminary results release, Osisko had an exceptional year in 2022. We had succes...