(1) of $17.8 million ($0.43 per share
(1)) for the quarter ended March 31, 2021 which was up 9% from royalty revenue of $16.3 million ($0.39 per share) reported in Q1 2020.
Adjusted EBITDA
(1) for the quarter was $14.6 million or $0.35 per share, up 15% from Adjusted EBITDA of $12.7 million ($0.30 per share
(1)) in Q1 2020. The adjusted EBITDA margin for the quarter was 82%.
Adjusted operating cash flow of $8.8 million or $0.21 per share is down by 33% from the comparable quarter last year mainly because of the deferred timing of corporate tax installments during the prior year period.
Net earnings in Q1 2021 are $11.8 million, and on an adjusted basis are $6.3 million or $0.14 per share compared to $3.4 million or $0.08 per share of adjusted earnings in Q1 2020. The main adjusting items in the current quarter are a $0.09 gain on fair value of a derivative (due to increases in unrealized value of warrants in the junior equity portfolio) and a reversal of an impairment charge re
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Altius Minerals Corp. expects to report record attributable quarterly royalty revenue of approximately CAN$21.9 million (CAN$0.53 per share) for 4Q20 ended 31 December 2020. This compares to quarterly revenues of CAN$16.2 million (CAN$0.39 per share) in 3Q20 and CAN$17.6 million (CAN$0.41 per share) in the comparable quarter in 2019. For the full year ended 31 December 2020, Altius expects to report royalty revenue of CAN$67.5 million (CAN$1.62 per share) compared to CAN$78.1 million for the year ended 31 December 2019 (CAN$1.83 per share).
4Q20 royalty revenue represents a significant rebound from levels recorded during the first three quarters of the year, benefitting primarily from stronger underlying commodity prices, a significant end-of-year dividend issuance by the Iron Ore Company of Canada (IOC) and higher tonnage-based revenue related to a greater share of ownership in its Alberta thermal coal royalty partnership.