Toronto, March 9, 2020
(in U.S. dollars unless otherwise noted)
Franco-Nevada Delivers Record Q4 and Annual Results
Growing free cash flow and strong outlook
“I am pleased that Franco-Nevada is reporting its best results ever,” stated David Harquail, CEO. “Record quarterly and annual results were achieved across all our important sales and financial metrics. Results benefited from the start of precious metals deliveries from Cobre Panama, strong production at other key assets and higher precious metals prices. Thanks to our diversified portfolio, we expect good overall growth in 2020 mostly driven by the continued Cobre Panama ramp-up despite a more conservative outlook for our energy assets. Franco-Nevada is generating substantial free cash flow and, post year-end, is now debt free. Franco-Nevada continues to be the gold investment that works.”
2019 Financial Highlights
• 516,438 Gold Equivalent Ounces1 (“GEOs”) sold, a new record
• $844.1 million in revenue, a new record
• $344.1 million of Net Income, or $1.83 per share, a new record
• $341.5 million of Adjusted Net Income2, or $1.82 per share, a new record
• $137.5 million in Cash Costs3, or $266 per GEO sold
• $673.4 million of Adjusted EBITDA4, or $3.59 per share, a new record
Q4/2019 Financial Highlights
• 153,396 GEOs sold, a new record
• $258.1 million in revenue, a new record
• $113.3 million of Net Income, or $0.60 per share, a new record
• $110.8 million of Adjusted Net Income, or $0.59 per share, a new record
• $44.1 million in Cash Costs, or $287 per GEO sold
• $201.7 million of Adjusted EBITDA, or $1.07 per share, a new record
Revenue and GEO Sales by Asset Categories
2019 2018
GEO Sales Revenu GEO Sales Revenu # (in millions) # (in millions)
Gold 387,663 $545.8 344,107 $435.8
Silver 58,906 83.2 61,737 78.2
PGMs 52,813 75.6 30,946 39.1
Other Mining Assets 17,056 23.6 11,112 14.0
Mining 516,438 $728.2 447,902 $567.1
see & read more on
https://s21.q4cdn.com/700333554/files/doc_financials/2019/q4/Franco-Nevada-Delivers-Record-Q4-and-Annual-Results-(FINAL).pdf
Energy — 115.9 — 86.1 516,438 $844.1 447,902 $653.2 |
