on RE Royalties Ltd. (isin : CA05663Q1090)
RE Royalties Ltd. Reports Fiscal 2024 Results
RE Royalties Ltd., a prominent player in renewable energy financing, announced its financial results for FY2024. The year marked a transition for the firm with the acquisition of new battery and solar assets in Ontario, enhancing stable cash flows for investors. Despite certain refinancing delays, early repayments by clients enabled reinvestment into new ventures.
Key investments include a $1.7M loan for Alberta's Sunrise Solar project, a $4M investment with Revolve Renewable Power Corp. in BC, and a $10M loan with Abraxas Power in the Maldives. FY2024 revenue was $8.6M, a 12% decline from FY2023, primarily due to a previous one-time royalty buyout gain. Net loss post-tax rose to $9.3M due to non-cash adjustments for acquired loans.
The company remains optimistic with ongoing investments, including a US$8M loan with Revolve. These strategic undertakings underscore its commitment to sustainable growth and shareholder value.
R. H.
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