Franco-Nevada Reports Record Q1 2025 Results

Core Viewpoint - Franco-Nevada reported its best financial results ever, driven by elevated gold prices, strong production from energy interests, and a robust deal pipeline, while remaining debt-free and well-capitalized [1][4]. Financial Highlights - Revenue reached $368.4 million, a 43% increase compared to Q1 2024, with 126,585 GEOs sold, up 3% year-over-year [4][6]. - Operating cash flow was $288.9 million, marking a 62% increase from Q1 2024, and adjusted EBITDA was $321.9 million, a 49% increase [4][36]. - Net income was $209.8 million, or $1.09 per share, reflecting a 45% increase compared to the previous year [4][38]. Portfolio and Production - The precious metals segment accounted for 79% of total revenue, with gold contributing 67% [6][18]. - The company sold 100,623 GEOs from precious metal assets, an 8% increase from Q1 2024, primarily due to higher sales from Candelaria and Hemlo [9][18]. - Diversified assets generated $74.8 million in revenue, a 21.4% increase from Q1 2024, despite a 13.1% decrease in GEOs contributed by these assets [18][22]. Growth and Strategic Initiatives - Franco-Nevada completed a $448.6 million financing package for the Porcupine Complex, expecting to receive approximately 6,000 GEOs in 2025 [10]. - The company acquired a precious metals stream from Sibanye Stillwater's Western Limb Mining Operations for $500 million, enhancing its portfolio [10]. - The company is committed to ESG initiatives, funding various community projects and maintaining high ratings from ESG agencies [8][18]. Dividend and Shareholder Information - A quarterly dividend of $0.38 per share was declared, representing a 5.6% annual increase [23][24]. - The company has a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends for additional shares [24].