Franco-nevada Corporation · TSX:FNV
Franco-nevada — Q2 2023 Earnings Presentation
14 slides from Franco-nevada's earnings presentation, Aug 9, 2023
Slide 1: Q2 2023 Results Presentation
Q2 2023 Results Presentation AUGUST 9, 2023 FNV: TSX | NYSE
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT 2 Forward Looking Statements This presentation contains “forward looking information” and “forward looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may includ
Slide 3: Speakers
SPEAKERS 3 Paul Brink Sandip Rana President & CEO CFO
Slide 4: Quarterly Gold Equivalent Ounces
TOTAL GEOs SOLD 4 250,000 200,000 191,052 Quarterly Gold Equivalent Ounces 183,886 176,408 168,515 Lower total 145,331 150,000 GEO deliveries vs. prior year period 100,000 50,000 - Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Precious Metal Diversified 1. Please refer to the appendix at the end of this p
Slide 5: Average Price Changes
AVERAGE PRICE CHANGES 5 1. Based on LBMA PM Fix for gold, platinum and palladium. Based on LBMA Fix for silver 2. Based on Bank of Canada daily rates
Slide 6: Energy Performance
ENERGY PERFORMANCE 6 $120 $8 $7.49 60,000 $108.41 $7 50,387 Quarterly Gold Equivalent Ounces $100 50,000 Quarterly Average Price ($/mcf) Quarterly Average Price ($/bbl) $6 Production (BOE $80 $73.78 40,000 $5 equivalent) 25% $60 $4 30,000 28,683 higher but GEOs 43% lower due to $40 $3 $2.32 20,000 l
Slide 7: Revenue and Adjusted EBITDA Performance
REVENUE AND ADJUSTED EBITDA PERFORMANCE 7 $400 $352 $350 $330 $301 $300 $276 83.5% Adjusted $250 $ (milliions) EBITDA Margin1 $200 in Q2 2023 $150 $100 $50 $0 Q2 2022 Q2 2023 Total Revenue (Precious Metal) Total Revenue (Diversified) Adjusted EBITDA 1. Please refer to the appendix at the end o
Slide 8: Key Financial Metrics
KEY FINANCIAL METRICS 8 Q2 2023 Q2 2022 Variance H1 2023 H1 2022 Variance Average Gold Price ($/oz) $1,978 $1,872 5.7% $1,933 $1,873 3.2% Total Gold Equivalent Ounces (GEOs)1 168,515 191,052 (11.8%) 313,846 369,666 (15.1%) Precious Metals (GEOs)1 132,003 131,574 0.3% 243,271 260,201 (6.5%) Revenue (
Slide 9: Revenue Diversification: Diversified with Low Risk
REVENUE DIVERSIFICATION 9 Diversified with Low Risk (Q2 2023 Revenue) Gas Rest of 4% World First Oil 11% Cobre Panama Quantum 11% Other 22% 22% Canada & NGL 28% USA Other Mining 1% PGM 5% 31% Others Mexico & 3% Central 42% Commodity America 26% Geography Assets Antapaccay Operator Glencore Silver Go
Slide 10: High Margin Business Model
HIGH MARGIN BUSINESS MODEL 10 $400 $352.3 $329.9 $320.4 $304.2 $300 $276.3 Business model benefits from rise in $200 commodity prices with consistent cost structure $100 $45.5 $42.0 $45.8 $47.1 $38.2 $5.8 $5.1 $11.8 $9.4 $8.6 $0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Revenue Cash Costs G&A 1. Pleas
Slide 11: Available Capital
AVAILABLE CAPITAL 11 NUEVAUNIÓN (RELINCHO) 1. As at June 30, 2023 2. $1B Corporate Revolver 3. Funding commitments subsequent to June 30, 2023 will be funded with cash flow from operations
Slide 12: Guidance
GUIDANCE 12 2022 Actual 2023 Guidance1 2027 Outlook2 729,960 640,000-700,000 760,000-820,000 GEOs Total + Record GEOs in 2022 – Assumes lower oil and gas prices1 Assumes flat commodity prices1 + Diversified guidance exceeded + Vale royalty attributable production + Growth from Precious Metal assets
Slide 13: Thank You For Your Interest in Franco-Nevada
THANK YOU FOR YOUR INTEREST IN www.FRANCO-NEVADA.com TSX: FNV | NYSE: FNV
Slide 14: Appendix – GEOs and Non-GAAP Measures
APPENDIX – GEOS AND NON-GAAP MEASURES 14 1. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment o