Freehold Royalties Ltd.: Q4 and Year-End Results for 2024
CALGARY, Alberta, March 12, 2025 – Freehold Royalties Ltd. (Freehold or the Company) is pleased to announce the release of its fourth quarter and year-end results for the period ended December 31, 2024. The Company reported a strong finish to the year, with significant growth in revenue and profitability.
Financial Highlights
During Q4 2024, Freehold generated revenue of $32.5 million, a 15% increase compared to the same period in the previous year. The Company’s net income for the quarter was $13.2 million, a considerable improvement from the $6.8 million reported in Q4 2023. For the full year, Freehold recorded revenue of $123.2 million, a 12% increase from 2023, and net income of $49.1 million, a substantial rise from the $24.6 million in the previous year.
Operational Updates
Freehold’s operational performance was equally impressive, with the Company achieving record production levels. The Company’s average daily production in Q4 2024 was 3,850 boe/d, a 10% increase from the same period in 2023. For the year, Freehold’s average daily production was 3,590 boe/d, a 7% increase from 2023. The Company’s operational focus on cost reduction and efficiency improvements resulted in a decrease in operating expenses by 5% for the year.
Dividend Announcement
Freehold’s Board of Directors has declared a quarterly dividend of CAD $0.08 per share, representing a 10% increase from the previous quarterly dividend. The dividend is payable on March 31, 2025, to shareholders of record on March 15, 2025.
Impact on Shareholders
The strong financial performance and operational achievements of Freehold Royalties Ltd. in 2024 have resulted in significant value creation for its shareholders. The Company’s increased revenue, profitability, and production levels, coupled with the dividend increase, demonstrate the Company’s commitment to delivering value to its investors.
Impact on the World
The energy sector, and specifically the oil and gas industry, plays a crucial role in the global economy. Freehold Royalties Ltd.’s strong financial performance and operational achievements contribute to the sector’s continued growth and stability. The increase in production levels and cost reduction efforts demonstrate the industry’s resilience and adaptability in the face of market challenges.
Conclusion
Freehold Royalties Ltd.’s Q4 and year-end results for 2024 represent a significant milestone for the Company. The strong financial performance, operational achievements, and dividend increase demonstrate the Company’s commitment to delivering value to its shareholders and contributing to the growth and stability of the energy sector. The Company’s focus on cost reduction and efficiency improvements positions it well for continued success in the future.
- Freehold Royalties Ltd. reports strong Q4 and year-end results for 2024
- Revenue of $32.5 million in Q4 2024, a 15% increase from the same period in 2023
- Net income of $13.2 million in Q4 2024, a considerable improvement from $6.8 million in Q4 2023
- Record production levels, with average daily production of 3,850 boe/d in Q4 2024
- Dividend increase of 10% to CAD $0.08 per share
- Strong financial performance and operational achievements contribute to the growth and stability of the energy sector
