Re Royalties Ltd. ( (RROYF) ) has released its Q3 earnings. Here is a breakdown of the information Re Royalties Ltd. presented to its investors.
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RE Royalties Ltd. is a pioneering company in the renewable energy sector, offering royalty-based financing solutions to both private and public entities, with a portfolio that spans solar, wind, hydro, battery storage, energy efficiency, and renewable natural gas projects across North America and Chile.
In its third-quarter earnings report for 2024, RE Royalties Ltd. highlighted a mixed financial performance, with decreases in revenue and gross profit compared to the previous year, primarily due to the early repayment of loans and the absence of a one-time royalty buyout. However, the company saw a significant improvement in EBITDA, which increased due to the absence of a large provision for expected credit loss that affected the previous year’s figures.
The financial report for Q3 2024 showed quarterly revenue of $1.69 million, down 12% year-over-year, and a year-to-date revenue of $6.16 million, a 14% decrease. Despite these declines, the quarterly EBITDA reached $1.04 million, marking a substantial increase due to improved credit conditions, while the year-to-date EBITDA rose by 77%. Additionally, the company managed to reduce its net loss significantly, with a quarterly net loss of $195,000 compared to $2.77 million the previous year.
In business developments, RE Royalties completed a series of strategic investments, including private placements of Green Bonds, agreements for solar and battery energy storage projects in Canada and the Maldives, and acquiring full ownership of Switch Power’s operating companies. These initiatives aim to bolster the company’s revenue streams through long-term power purchase agreements and royalties.
Looking ahead, RE Royalties Ltd. remains optimistic about its growth prospects, supported by recent capital raises and ongoing project developments. The company’s strategic focus on renewable energy financing positions it well for continued expansion in a sector that is increasingly vital to global energy transitions.
