- The Mint increased its revenue by 80 per cent in the second quarter of 2021
- Consolidated revenue increased to $953.5 million in 2021 versus $529.5 million in 2020
- 121 million coins were produced and sold to the Department of Finance
- Operating expenses increased 12 per cent compared to Q2 2020 to $26.2 million
- The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins
- The Royal Canadian Mint (MNT) is up 0.39 per cent, trading at C$23.11 at 12:15 pm
The Royal Canadian Mint (MNT) is pleased to announce its financial results for the second quarter of 2021.
“Overall strong profitability and higher revenues are a clear indication that the Mint’s long-term strategy is allowing us to better respond to market conditions and customer needs by capitalizing on emerging opportunities,” said Marie Lemay, President and CEO of the Royal Canadian Mint.
“Employee commitment and dedication to implementing the Mint’s new strategy is allowing us to increasingly focus our talent and resources where it is making a bigger difference for our customers and our shareholders.”
All monetary amounts are expressed in Canadian dollars unless otherwise indicated.
Financial and operational highlights
- The Mint’s Q2 2021 results reflect full production in Q2 2021 versus Q2 2020 which was impacted by modified production as a result of the COVID-19 pandemic
- The Mint increased its revenue by 80 per cent in the second quarter of 2021
- Revenue from circulation businesses increased to $48.1 million in 2021
- Consolidated revenue increased to $953.5 million in 2021 versus $529.5 million in 2020
- 121 million coins were produced and sold to the Department of Finance in the quarter
- Overall, operating expenses increased 12 per cent compared to Q2 2020 to $26.2 million (2020 – $23.5 million) due mainly to the implementation of the Mint’s business transformation initiatives
- Cash and cash equivalents increased to $84.6 million (December 31, 2020 – $67.3 million)
Despite its best efforts, the Mint expects COVID-19 to continue to affect its performance in 2021. The Mint continues to prioritize the health and safety of its employees and is adjusting its work protocols as required by the provinces and the local health authorities as required.
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins.
The Royal Canadian Mint (MNT) is up 0.39 per cent, trading at C$23.11 at 12:15 pm.