Franco-Nevada Reports Strong Q3 Results
Press Release
November 05, 2018
Cobre Panama funding complete
“Franco-Nevada’s diversified portfolio and business model continues to generate strong revenues and margins,” commented David Harquail, CEO. “Subsequent to quarter end, we made the final installment on our $1 billion funding commitment for the Cobre Panama project. Franco-Nevada expects substantial growth in its revenues and EBITDA from assets already in place. Revenues are expected to increase by more than 30% once Cobre Panama ramps-up towards full production, Candelaria returns to normal operations and with the continued development of our U.S. oil & gas assets. We are also pleased to again increase our oil & gas revenue guidance for 2018.”
Q3/2018 Financial Highlights
- $170.6 million in revenue
- 120,021 Gold Equivalent Ounces1 (“GEOs”) sold
- $134.7 million of Adjusted EBITDA2 or $0.72 per share
- $52.1 million of net income or $0.28 per share
- $54.6 million of Adjusted Net Income3 or $0.29 per share
- $45.0 million of dividends declared in the quarter
IBF4
