Business
Torrent Capital Ltd. Announces Financial Results for the Year-Ended December 31, 2021
Halifax, Nova Scotia--(Newsfile Corp. - April 18, 2022) - Torrent Capital (TSXV: TORR) ("Torre...
About this update from Torrent Capital Ltd
[{"type":"text","content":"Torrent Capital Ltd. Announces Financial Results for the Year-Ended December 31, 2021Halifax, Nova Scotia--(Newsfile Corp. - April 18, 2022) - Torrent Capital (TSXV: TORR) (\"Torrent\" or the \"Company\") reports Net Asset Value (\"NAV\") increase from $25.5 million ($1.06 per share) to $27.4 million ($1.13 per share) during 2021, representing an increase of 6.6% year over year.Trailing ReturnTorrent CapitalTSX SmallCap IndexS&P 50012 Month6.6%18.2%27.7%24 Month87.8%30.0%47.5%36 Month158.2%46.7%90.1%Net Return by year20216.6%18.2%27.7%202076.1%10.0%15.5%201937.5%12.8%28.9%201833.4%-20.1%-6.2%2017*29.8%5.9%10.3%Since InceptionCumulative Return346.2%24.1%96.7%Compound Annual Return39.4%4.92%16.19% *6 month period from the date the Company was fully invested on June 30, 2017.2021 year-end highlights include:- NAV per share of 1.13, a 6.6% year over year increase from a NAV per share of 1.06 on December 31, 2020.- Realized gain on investments of $3,475,437 for the year ended December 31, 2021 as compared to realized gains on investments of $7,244,237 for the year ended December 31, 2020.- Unrealized loss on investments of $299,420 as compared to unrealized gains on investments of $7,312,662 for the year ended December 31, 2020.- A cumulative return of 346.2% since the launching of Torrent as an Investment Issuer on June 30, 2017, representing a compound annual rate of return of 39.4%.- Appointment of Mr. Wayne Myles and Mr. Carl Sheppard to the Company's Board of Directors, effective November 30, 2021.2021 was a year dominated by the reflation trade as the markets re-focussed on corporate fundamentals and value in light of cost pressures in the system. Commodity related investments performed well, with metals, mining, and energy among the top performers. The Torrent Portfolio returned 6.6% on the year, despite the pullback in some of the Company's key portfolio sectors, including Technology, and Cleantech. WildBrain Ltd. was a top performer in Torrent's portfolio with a share price increase of 92.2% in 2021. Wildbrain has significantly improved its financial flexibility and cash generation, which is restoring confidence from the capital markets. This was further demonstrated by several analyst's share price upgrades throughout the year. The company has seen growing revenues and earnings through 2021 combined with an improve...