EverGen Infrastructure Announces Dates for 2025 Second Quarter Financial Results and Conference Call
Conference Call Details are as follows:
Date:
Time: 11:00 a.m. ET
About EverGen Infrastructure Corp.
EverGen, Canada's Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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($ 000s) Unaudited Q2 2025 Q2 2024 YTD 2025 YTD 2024 Revenue 26,390 22,758 42,518 43,633 Cost of sales 11,628 11,151 17,638 22,680 Gross profit 14,762 11,607 24,880 20,953 Gross profit margin (%) 56% 51% 59% 48% Figure 1: Kraken Robotics' Sub-Bottom Imager (SBI) can be deployed from vessels in nearshore environments, delivering 3D volumetric data down to five meters beneath the seabed. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: LinkedIn: Twitter: Facebook: YouTube: Instagram: FORWARD-LOOKING STATEMENTS The Company and its management believe that the statements regarding 2025 revenue and adjusted EBITDA contained in this press release are reasonable as of the date hereof, are based on management's current views, strategies, expectations, assumptions and forecasts, and have been calculated using accounting policies that are generally consistent with the Company's current accounting policies. These statements are considered future-oriented financial outlooks and financial information (collectively, "FOFI") under applicable securities laws. These statements and any other FOFI included herein have been approved by management of the Company as of the date hereof. Such FOFI are provided for the purposes of presenting information about management's current expectations and goals relating to the Company's expected growth in its Products and Services groups. However, because this information is highly subjective and subject to numerous risks, including the risks discussed in the disclaimer for forward looking statements below, it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the FOFI prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although management of the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any FOFI, whether as a result of new information, future events or otherwise, except as required by securities laws. Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@ Greg Reid, President & CEO(416) 818-9822greid@ Sean Peasgood, Investor Relations(647) 955-1274sean@ ___________________________________¹ Adjusted EBITDA is a non-IFRS financial measure and gross margin, and adjusted EBITDA margin are non-IFRS ratios, in each case with no standard meaning under IFRS, and may not be comparable to similar financial measures disclosed by other issuers. Refer to the "Non-IFRS Measures" section of this press release. A photo accompanying this announcement is available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Refer to the sections 'Non-IFRS financial measures'. NON-IFRS FINANCIAL MEASURES The Trust's consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). In this press release, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain non-IFRS financial measures: FFO, FFO per unit, AFFO, AFFO per unit, NOI, and Adjusted Investment Properties. These non-IFRS measures are not defined by IFRS, do not have a standardized meaning, and may not be comparable with similar measures presented by other issuers. Canadian Net has presented such non-IFRS measures as management of the Trust believes they are relevant measures of Canadian Net's underlying operating performance and debt management. 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Reconciliation of Investment Properties to Adjusted Investment Properties As at June 30 2025 2024 Δ Investment Properties Developed properties 291,323,830 258,260,480 13 % Investment properties held for sale - 10,900,842 (100 %) Joint Venture Ownership(1) Developed properties 47,550,096 45,587,872 4 % Properties under development 1,892,897 2,126,680 (11 %) Adjusted Investment Properties(2) 340,766,823 316,875,874 8 % (1) Represents Canadian Net's proportionate share (2) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section 'Non-IFRS financial measures' Results of Operations 3 months 6 months Periods ended June 30 2025 2024 Δ 2025 2024 Δ Rental Income 6,885,960 6,593,938 292,022 13,734,937 13,133,535 601,402 Operating expenses (1,856,432 ) (1,798,446 ) (57,986 ) (3,729,044 ) (3,519,856 ) (209,188 ) Net Operating Income(1) 5,029,528 4,795,492 234,036 10,005,893 9,613,679 392,214 Share of net income from investments in joint ventures (195,866 ) (501,516 ) 305,650 335,360 (288,579 ) 623,939 Change in fair values of investment properties (3,932,846 ) (11,029,390 ) 7,096,544 3,177,686 (12,458,999 ) 15,636,685 Unit-based compensation (207,474 ) (157,788 ) (49,686 ) (577,401 ) (402,965 ) (174,436 ) Administrative expenses (255,553 ) (264,943 ) 9,390 (541,281 ) (535,640 ) (5,641 ) Financial expenses (1,786,982 ) (1,758,431 ) (28,551 ) (3,568,190 ) (3,582,966 ) 14,776 Net income (loss) attributable to unitholders (1,349,193 ) (8,916,576 ) 7,567,383 8,832,067 (7,655,470 ) 16,487,537 FFO(1) 3,412,036 3,166,760 8 % 6,790,199 6,293,681 8 % FFO per unit(1) 0.166 0.154 8 % 0.330 0.306 8 % Weighted avg. units o/s Basic 20,597,637 20,561,060 36,577 20,582,076 20,546,748 35,328 (1) This is a non-IFRS financial measure that does not have any standardized IFRS meaning and as such may not be comparable to other issuers. Refer to section 'Non-IFRS financial measures' Reconciliation of Net Income to Funds from Operations 3 months 6 months Periods ended June 30 2025 2024 Δ 2025 2024 Δ Net income (loss) attributable to unitholders (1,349,193 ) (8,916,576 ) 7,567,383 8,832,067 (7,655,470 ) 16,487,537 Δ in value of investment properties 3,932,846 11,029,390 (7,096,544 ) (3,177,686 ) 12,458,999 (15,636,685 ) Δ in value of investment properties in joint ventures 621,585 913,157 (291,572 ) 558,833 1,110,687 (551,854 ) Unit-based compensation 207,474 157,788 49,686 577,401 402,965 174,436 Δ fair value adjustments on derivative financial instruments (676 ) (18,253 ) 17,577 (416 ) (24,754 ) 24,338 Income taxes - 1,254 (1,254 ) - 1,254 (1,254 ) FFO(1) 3,412,036 3,166,760 8 % 6,790,199 6,293,681 8 % FFO per unit(1) 0.166 0.154 8 % 0.330 0.306 8 % Distributions 1,776,626 1,773,636 2,990 3,550,063 3,544,265 5,798 Distributions per unit 0.086 0.086 - 0.173 0.173 - FFO per unit(1) - after distributions 0.080 0.068 18 % 0.158 0.134 18 % Distributions as a % of FFO(1) 52 % 56 % (4 %) 52 % 56 % (4 %) Weighted avg. units o/s Basic 20,597,637 20,561,060 36,577 20,582,076 20,546,748 35,328 (1) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section 'Non-IFRS financial measures' Adjusted Funds from Operations 3 months 6 months Periods ended June 30 2025 2024 Δ 2025 2024 Δ FFO (1) 3,412,036 3,166,760 245,276 6,790,199 6,293,681 496,518 Straight-line rent adjustment(2) (33,159 ) (59,977 ) 26,818 (84,192 ) (96,560 ) 12,368 Maintenance/cap-ex on existing properties (148,501 ) (256,021 ) 107,520 (176,679 ) (264,338 ) 87,659 AFFO(1) 3,230,376 2,850,762 13 % 6,529,328 5,932,783 10 % AFFO per unit(1) 0.157 0.139 13 % 0.317 0.289 10 % Distributions per unit 0.086 0.086 - 0.173 0.173 - AFFO per unit(1) - after distributions 0.071 0.052 36 % 0.145 0.117 24 % Distributions as a % of AFFO(1) 55 % 62 % (7 %) 54 % 60 % (6 %) Weighted avg. units o/s Basic 20,597,637 20,561,060 36,577 20,582,076 20,546,748 35,328 (1) This is a non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section 'Non-IFRS financial measures' (2) Adjusted for the proportionate share of equity-accounted investments Reconciliation of Net Income to EBITDA 3 months 6 months Periods ended June 30 2025 2024 Δ 2025 2024 Δ Net income (loss) attributable to unitholders (1,349,193 ) (8,916,576 ) 7,567,383 8,832,067 (7,655,470 ) 16,487,537 Net interest expense 1,786,637 1,775,105 11,532 3,564,263 3,604,120 (39,857 ) Income taxes - 1,254 (1,254 ) - 1,254 (1,254 ) EBITDA(1) 437,444 (7,140,217 ) 7,577,661 12,396,330 (4,050,096 ) 16,446,426 Δ in value of investment properties 3,932,846 11,029,390 (7,096,544 ) (3,177,686 ) 12,458,999 (15,636,685 ) Δ in value of investment properties in joint ventures 621,585 913,157 (291,572 ) 558,833 1,110,687 (551,854 ) Δ in value of convertible debentures (676 ) (18,253 ) 17,577 (416 ) (24,754 ) 24,338 Adjusted EBITDA(1) 4,991,199 4,784,077 4 % 9,777,061 9,494,836 3 % Interest expense 1,883,651 1,903,883 (20,232 ) 3,733,809 3,825,547 (91,738 ) Principal repayments 1,264,240 1,164,286 99,954 2,464,079 2,284,330 179,749 Debt service requirements 3,147,891 3,068,169 3 % 6,197,888 6,109,877 1 % Interest coverage ratio based on adjusted EBITDA(1) 2.6x 2.5x 0.1x 2.6x 2.5x 0.1x Debt service coverage based on adjusted EBITDA(1) 1.6x 1.6x - 1.6x 1.6x - (1) This is a non-IFRS financial measure that does not have any standardized IFRS meaning and as such may not be comparable to other issuers. Refer to section 'Non-IFRS financial measures' EARNINGS WEBCASTCanadian Net will host a webcast on August 20th, at 9:00 a.m. (EST) to discuss the results. The link to join the webcast is the following: About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties. Forward-Looking Statements - This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence on the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new IFRS standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not update or modify its forward-looking statements even if future events occur or for any other reason unless required by law or any regulatory authority. Neither the TSX Venture Exchange Inc. nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange and its Regulatory Services Provider) accepts any responsibility for the adequacy or accuracy of this release. The June 30, 2025, financial statements and management discussion & analysis of Canadian Net may be viewed on SEDAR+ at For further information please contact Kevin Henley at (450) 536-5328. 1 Non-IFRS financial measure with no standardized IFRS meaning and may not be comparable to other issuers. Refer to the section 'Non-IFRS financial measures'.
