The Royal Canadian Mint is pleased to announce its financial results for the first quarter of 2022 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.
“The results of the first quarter of 2022 demonstrate that we have built a strong foundation from which we are able to respond to the changing needs of our customers and take advantage of new opportunities,” said Marie Lemay, President and CEO of the Royal Canadian Mint. “We are confident that our long-term strategy gives us the resilience to continue to generate good value for Canada and Canadians.”
The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.
Financial and Operational Highlights
Revenue from Circulation businesses decreased to $39.6 million in 2022 (2021 – $50.8 million):
Consolidated results and financial performance
(in CAD $ millions)
|13 weeks ended|
|April 2, 2022||April 3, 2021||$ Change||% Change|
|Profit for the period||$||14.4||$||13.8||0.6||4|
|Profit before income tax and other items1||$||15.8||$||26.0||(10.2)||(39)|
|Profit before income tax and other items margin2||1.8%||2.9%|
|(1) Profit before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 11 of the Mint’s 2022 First Quarter Report.|
|(2) Profit before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items.
|April 2, 2022||December 31, 2021||$ Change||% Change|
As part of its business continuity plan, 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 COVID-19 and emerging variants as well as other external events around the globe to continue to have an impact on its performance in 2022. The Mint continues to mitigate potential risks as they arise and prioritize the health and safety of its employees, adjusting its work protocols as required by the provinces and the local health authorities.
To read more of the Mint’s First Quarter Report for 2022, please visit www.mint.ca.
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 recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high-quality coinage products and related services on an international scale.
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