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Cision Canada
16-06-2025
- Business
- Cision Canada
ROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR 2024
OTTAWA, ON, June 16, 2025 /CNW/ - The Royal Canadian Mint (the "Mint") is announcing its financial results for 2024. These results provide insights into the Mint's activities, the impacts of market fluctuations on its businesses and its expectations for the next 12 months. "The Royal Canadian Mint's diverse and innovative team deployed creative solutions to the complex challenges of 2024," said Marie Lemay, President and CEO of the Royal Canadian Mint. "We capitalized on new opportunities, adapted to everchanging environments and positioned ourselves well for the changes ahead." The financial results should be read in conjunction with the Mint's annual report available at . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated. Financial and Operational Highlights The financial results for 2024 were ahead of the financial target for 2024, set out in its 2024-2028 Corporate Plan, and lower than 2023 levels, as expected. The results were impacted by the continued softness in global bullion demand that started in the second half of 2023. The weaker performance of the Precious Metals business was partially offset by higher gold market pricing, with record highs in 2024, combined with higher foreign circulation volumes sold and a planned lower level of operating costs to support both the Mint's on-going operations and digital program and business transformation initiatives. Consolidated revenue decreased to $1,284.1 million in 2024 (2023 – $2,162.0 million). Revenue from the Precious Metals business decreased to $1,148.1 million in 2024 (2023 – $2,046.1 million): Volume for gold bullion decreased 43% while silver bullion volume decreased 36% year over year, to 567.5 thousand ounces for gold bullion (2023 – 989.1 thousand ounces) and 15.6 million ounces for silver bullion (2023 – 24.4 million ounces). Gold and silver market prices increased year over year by 22% and 21%, respectively. Revenue from numismatic product sales were fairly consistent year over year despite the strong sale of the monarch effigy products in 2023. Revenue from the Circulation business increased to $136.0 million in 2024 (2023 – $115.9 million): Revenue from Foreign Circulation increased 76%, year over year, a reflection of higher volumes sold in 2024 as compared to 2023. Revenue from Canadian circulation decreased slightly year over year mainly due to lower program fees, in accordance with the memorandum of understanding with the Department of Finance, partially offset by a higher volume of coins required to replenish inventories due to a decrease in deposits with financial institutions. Overall, operating expenses decreased 11% year over year to $119.5 million (2023 – $135.0 million) mainly due to planned reductions in consulting and workforce expenses. Cash decreased to $54.6 million (December 31, 2023 - $59.8 million). In 2024, the Mint declared and paid $5.0 million in dividend to its Shareholder, the Government of Canada, $4.0 million of which was in relation to the year ended December 31, 2023. Cash remains adequate to support the Mint's operations. As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2025. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process. To read more of the Mint's annual report for 2024, please visit About the Royal Canadian Mint The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada's circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada's prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations. For more information on the Mint, its products and services, visit Follow the Mint on LinkedIn, Facebook and Instagram. FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS. This Earnings Release contains forward-looking statements that reflect management's expectations regarding the Mint's objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities. Forward-looking statements are typically identified by words or phrases such as "plans", "anticipates", "expects", "believes", "estimates", "intends", and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint's 2024 annual report, as well as in Note 8 – Financial Instruments and Financial Risk Management to the Mint's Audited Consolidated Financial Statements for the year ended December 31, 2024. The forward-looking statements included in this Earnings Release are made only as of March 6, 2025, and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.
Irish Independent
02-06-2025
- Business
- Irish Independent
‘A chance to be happy': Meath mother finds relief in €81m housing scheme officially opened by council'
April Martin, a 35-year-old new mother, had spent almost a decade on the social housing waiting list before receiving the keys to her new home in Farganstown three weeks ago. Cradling her four-month-old son, Rico, she described the moment as a 'chance to be happy' 'It's amazing having a place to call home; you're not worried about a landlord saying you need to move out,' she said. Before getting her permanent home, Ms Martin was living in a rented accommodation. She said: 'The place we were living before was really bad. My baby was at the hospital three times in two weeks for Bronchiolitis. The first night we moved in here, it all stopped. His health has improved a 100pc.' Ms Martin added: 'He's only four months old so it was heartbreaking seeing him not being able to breathe.' In Meath, 1260 Inspections were carried out on rented properties for Q1 2025. Of this figure, 401 were first inspections, only 14 properties passed after their first inspection. The new mother who is originally from Dublin and has been living in Meath since she was on the waiting list said Farganstown is a 'beautiful place to live'. 'The neighbours are really nice and helpful, there is already a sense of community.' Ms Martin's new residence is one of 231 new homes across three developments in Navan (Farganstown), Clonee (Aylesbury), and Ashbourne (Millrace). The projects were formally opened by Minister for Housing, Local Government and Heritage, James Browne TD, during events on Friday last. 'Beyond the numbers and delivery figures, it's crucial to remember the real impact: a family or individual whose life will be greatly enhanced by having a long-term, secure, and affordable home in a thriving community,' Minister Browne said. ADVERTISEMENT 'These 231 new homes aren't just roofs over heads; they offer peace of mind and long-term security.' The Farganstown site in Navan, where Ms Martin and Rico now live, features 84 new homes and cost over €25.8 million. The development includes a mix of one- to four-bedroom units and was completed in February 2025. It includes landscaped open space, car and bicycle parking, and communal facilities. Cathaoirleach of Meath County Council, Cllr Sharon Tolan, welcomed the new developments and said: 'Late last year, when we launched Meath County Council's Corporate Plan, I emphasised the Council's unwavering commitment to excellence in every priority, strategy and vision we set out. Providing high-quality homes to people was a key priority in that plan. 'I am thrilled to welcome the completion of 231 beautiful new homes in three rapidly growing areas within our county, especially considering the current national housing challenges.' Meanwhile Chief Executive of Meath County Council Kieran Kehoe praised the council's achievement in exceeding national social housing targets, despite ongoing pressures. 'These developments are yet another example of Meath County Council and our partners in the Department of Housing recognising our communities' diverse needs and delivering high-quality housing solutions to meet them.' Ms Martin hopes her story will inspire other families still waiting. 'I hope other families get what we got - a chance for the kids and themselves to be happy and healthy.' Funded by the Local Democracy Reporting Scheme.
RTÉ News
30-05-2025
- Business
- RTÉ News
Over 230 new social houses opened in Meath developments
Over 230 new social houses have been officially opened across three residential developments in Co Meath. The developments, which cost a total of around €81.3 million to build, are located in Farganstown outside Navan, Aylesbury in Clonee and Millrace in Ashbourne. The development at Farganstown outside Navan, which cost over €25.8 million, consists of 84 new homes on a 1.7 hectare site. The Aylesbury development in Clonee cost over €28 million and consists of 73 new apartments in two apartment blocks close to the village. Meanwhile, at a cost of around €27.5 million, the development in Millrace in Ashbourne is made up of 74 new homes on a 2.8 hectare site. Minister for Housing James Browne visited each of the three developments today to mark the official opening of the houses. Speaking afterwards, Minister Browne commended Meath County Council for exceeding their five-year social housing delivery target and for their "forward-thinking approach" in acquiring land for future social housing projects. The minister said: "Beyond the numbers and delivery figures, it's crucial to remember the real impact: a family or individual whose life will be greatly enhanced by having a long-term, secure and affordable home in a thriving community. These 231 new homes aren't just roofs over heads, they offer peace of mind and long-term security. Meanwhile, the Cathaoirleach of Meath County Council, Councillor Sharon Tolan said: "Late last year, when we launched Meath County Council's Corporate Plan, I emphasised the council's unwavering commitment to excellence in every priority, strategy and vision we set out. Providing high-quality homes to people was a key priority in that plan. "I am thrilled to welcome the completion of 231 beautiful new homes in three rapidly growing areas within our county, especially considering the current national housing challenges." Chief Executive of Meath County Council Kieran Kehoe said he was proud that the local authority continued to exceed its delivery targets despite being in the middle of a national housing crisis. "These developments are yet another example of Meath County Council and our partners in the Department of Housing recognising our communities' diverse needs and delivering high-quality housing solutions to meet them. "At Meath County Council, we remain as focused as ever in making major strides to address the housing challenges for the people of Meath," Mr Kehoe added. It comes as the latest homelessness figures, which were published today, show that 15,580 people were accessing emergency accommodation in April, an increase of 162 compared to the previous month.
