ST. JOHN'S, Newfoundland--(BUSINESS WIRE)--Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) ("ARR", the "Company", or the "Corporation"), expects to report Q2 2024 proportionate royalty revenue of $1.5 million including $0.5 million of investment income associated with various interconnection and loan agreements. This compares to $1.0 million of proportionate royalty revenue reported in Q2 2023.
Great Bay Renewables (50% owned with certain funds managed by affiliates of Apollo Global Management Inc.) continued to recognize revenue from 11 operating royalties during the quarter.
Q2 2024 Financial Results Conference Call and Webcast Details
Financial results will be announced by press release August 5, 2024 after the close of trading. A conference call and webcast will be held on August 6, 2024 at 9:00 am ET to provide a discussion of the business and outlook and to offer an open Q&A session for analysts and investors. Access details are as follows:
Date and time: | August 6, 2024, 9:00 am ET |
Toll Free Dial-In Number: | (+1) 800 717 1738 |
International Dial-In Number: | (+1) 646 307 1865 |
Conference Call Title and ID: | Altius Renewable Royalties Q2 2024 Financial Results, ID 29663 |
Webcast Link: | Q2 2024 Financial Results |
Non-GAAP financial measures
(1) Proportionate royalty revenue is a non-GAAP financial measure. Management uses non-GAAP financial measures to monitor the financial performance of the Corporation and believes these measures enable investors and analysts to compare the Corporation's financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace International Financial Reporting Standards (IFRS) measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies. Further information on the composition and usefulness of each non-GAAP financial measure, including reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial measures section of our MD&A, which are available at https://www.arr.energy
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 35 renewable energy royalties representing approximately 2.4 GW of renewable power on operating projects and an additional approximate 5.8 GW on projects in development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from GBR's investments in Bluestar Energy Capital, Hodson Energy, Hexagon Energy and Nokomis Energy, which are expected to increase the total development project pipeline to approximately 18.7 GW. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
Forward-looking information
This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
Contacts
Flora Wood
Email: Flora@arr.energy
Tel: 1.877.576.2209
Direct: 1.416.346.9020
Ben Lewis
Email: Ben@arr.energy
Tel: 1.877.576.2209
