(in U.S. dollars unless otherwise noted)
Franco-Nevada Reports Q3 2023 Results
Precious Metal Assets Performed Well
“Our core precious metal assets anchored the quarter, resulting in increased revenue and earnings over the prior year
period,” stated Paul Brink, CEO. We are looking forward to added precious metal contributions from a number of new
mines in 2024 and, in particular, from the Tocantinzinho stream where G Mining Ventures is progressing construction on
time and budget. Franco-Nevada is debt-free and is growing its cash balances.”
The Panamanian National Assembly approved the revised Cobre Panama concession agreement in October 2023. In
response to protests that followed the approval, the Government proposed but did not proceed with a popular
consultation on the revised concession contract. The Panamanian Supreme Court is, however, considering a number of
lawsuits challenging the constitutionality of the law pertaining to the contract. Production at the Cobre Panama mine has
not been impacted and we, along with the operator, First Quantum, are closely monitoring the unfolding situation.
Q3 2023 YTD 2023
Q3 results vs YTD results vs
Q3 2022 YTD 2022
Total GEOs1 sold (including Energy) 160,848 GEOs -9% 474,694 GEOs -13%
Precious Metal GEOs1 sold 125,337 GEOs +4% 368,608 GEOs -3%
Revenue $309.5 million +2% $915.7 million -8%
Net income $175.1 million ($0.91/share) +11% $516.1 million ($2.69/share) -4%
Adjusted Net Income2 $175.1 million ($0.91/share) +10% $510.2 million ($2.66/share) -4%
Adjusted EBITDA2 $255.1 million ($1.33/share) -1% $760.1 million ($3.96/share) -10%
Adjusted EBITDA Margin2 82.4% -2.4% 83.0% -2.1%
Strong Financial Position
• No debt and $2.3 billion in available capital as at September 30, 2023
• Generated $236.0 million in operating cash flow during the quarter
• 16 consecutive annual dividend increases. Quarterly dividend of $0.34/share
Sector-Leading ESG
• Global 50 Top Rated and #1 gold company by Sustainalytics, AA by MSCI and Prime by ISS ESG
• Committed to the World Gold Council’s Responsible Gold Mining Principles
• Partnering with our operators on community and ESG initiatives
• Goal of 40% diverse representation at the Board and top leadership levels as a group by 2025
Diverse, Long-Life Portfolio
• Most diverse royalty and streaming portfolio by asset, operator and country
• Core precious metal streams on world-class copper assets outperforming acquisition expectations
• Long-life reserves and resources

see & read more on
https://s201.q4cdn.com/345177888/files/doc_financials/2023/q3/Franco-Nevada-Reports-Q3-2023-Results-vF-2023-11-08.pdf