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    FW   CA3434492037

FLOW CAPITAL CORP.

(FW)
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Flow Capital : Announces Q3 2021 Financial Results

11/26/2021 | 03:40pm EST

Non-cash items included in revenue under IFRS, had a net impact of $(6,225,053) in the three- month period ended September 30, 2021, compared to $1,892,641 for the three-month period ended September 30, 2020. The non-cash amount of $(6,137,559) comprised $(6,282,460) in adjustments to fair value and $144,901 of foreign exchange movements.

Total revenue for the nine-month period ended September 30, 2021 was $7,083,979, a 4.7% increase from $6,767,079 for the nine-month period ended September 30, 2020. Royalty and loan payment income for the nine-month period ended September 30, 2021 was $4,485,123 representing a 16.9% increase from the $3,837,054 earned in the nine-month period ended September 30, 2020.

Of the $4,485,123 royalty and loan payment income earned during the nine-month period ended September 30, 2021, $1,303,503 was contributed by interest from new loan investments acquired in the last twelve months, $3,007,067 was from royalty payment income due to growth in revenues of investees and investees resuming to pay a royalty and $126,091 in income from loan amortization.

Realized gain from sale of investments was $9,194,067 for the nine-month period ended September 30, 2021 compared to a realized gain of $475,970 for the nine-month period ended September 30, 2020. The realized gain of $9,194,067 for the nine-month period ended September 30, 2021 comprised $4,856,508 in gains from buyouts of royalty investments and $4,337,559 in from net gains on the sale of equity holdings.

Non-cash items included in revenue under IFRS, had a net impact of $(6,634,568) in the nine- month period ended September 30, 2021, compared to $2,090,272 for the nine-month period ended September 30, 2020. The non-cash amount of $(6,634,568) was made up of $(6,416,345) for adjustments to fair value and $(218,223) in foreign exchange movements.

Operating Expense

Total operating expenses were $669,454 and $ 2,151,753 for the three and nine-month period ended September 30, 2021 compared to were $520,214 and $2,827,073 for the three-month and nine-month period ended September 30, 2020. The reduction in the YTD operating expenses is on account of changes in staffing and significantly lower restructuring costs and legal expenses compared to the corresponding period in the previous year.

Profit (Loss) After Taxes

Profit (loss) after taxes was $(1,040,382) and $3,333,467 for the three-month and nine-month period ended September 30, 2021 compared to $1,845,528 and $1,503,888 for the three-month and nine-month period ended September 30, 2020. The decline in the profit (loss) after taxes of $2,885,910 for the three-month period ended September 30, 2021, was primarily on account of lower revenue royalty and loan payment income, fair value movements on account of royalty buyouts and sale of investments, partly offset by lower operating costs, compared to the corresponding period in the previous year. The increase in profitability of $1,829,579 over the nine-month period ended September 30, 2021 was driven by a growth in revenue royalty and loan payment income, realized gains from royalty buyouts and sale of investments, and lower operating costs, compared to the corresponding period in the previous year.

Disclaimer

Flow Capital Corp. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 20:39:08 UTC.


© Publicnow 2021
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Financials
Sales 2020 10,5 M 8,27 M 8,27 M
Net income 2020 2,12 M 1,67 M 1,67 M
Net Debt 2020 3,08 M 2,43 M 2,43 M
P/E ratio 2020 7,17x
Yield 2020 -
Capitalization 13,7 M 10,9 M 10,8 M
EV / Sales 2019 3,21x
EV / Sales 2020 1,62x
Nbr of Employees 5
Free-Float 83,1%
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Managers and Directors
Alex Baluta President, Chief Executive Officer & Director
Gaurav Singh Chief Financial Officer
Vernon F. Lobo Chairman
Catherine McLeod-Seltzer Independent Director
Alan D. Torrie Independent Director
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