Royal Canadian Mint celebrates year of remarkable financial performance
Corporation achieves $3.2 billion in revenues and $43.8 million in pre-tax profits in 2011
OTTAWA, May 7, 2012 /CNW/ - The Royal Canadian Mint achieved a record $3.2 billion in revenues and pre-tax profits of $43.8 million last year, the Corporation's fourth highest ever net income. All four of the Mint's business lines were profitable in 2011, with its numismatics and collectibles business achieving its best results ever and bullion posting the highest sales of Silver Maple Leaf coins in the Mint's history.
"In 2011, the Royal Canadian Mint's sustained agility continued to pay off, delivering stellar results once again," said Ian E. Bennett, President and CEO of the Royal Canadian Mint. "I would like to thank all of our employees for their engagement, energy and enthusiasm - across the Corporation, they have truly embraced our vision to be the best mint in the world."
Other Notable achievements for the Royal Canadian Mint in 2011 included:
- A dividend payment of $10 million to its shareholder, the Government of Canada;
- The launch of the Canadian Gold Reserves' Exchange Traded Receipts (ETRs) program on the Toronto Stock Exchange - the largest initial public offering (IPO) in Canada during the year;
- Breaking ground in Winnipeg to begin a $60 million expansion of the Mint's plating facility, which will add 60,000 square feet and increase plating capacity by two billion pieces a year;
- The production of 1.1 billion Canadian circulation coins and the recycling of over 1 billion circulation coins in 2011;
- The production and shipping of 1.1 billion coins and blanks for 13 countries. Close to 95% of the coins produced for foreign customers in 2011 used the Mint's cost-effective multi-ply plating manufacturing process; and
- Celebrating a record 30 sell-outs of innovative collector coins as well as the sell-out of two highly successful "20 for 20" pure silver commemorative coins;
The Royal Canadian Mint, a thoroughly modern Corporation, continues to seek new business opportunities in the fast-changing global minting environment. It strives to meet its vision to be the best mint in the world by continuing to invest in research and development, new technologies and equipment across all divisions of its business, as well as in ongoing efforts to engage Canadians and customers around the world through relevant coin themes.
To read more from the Mint's 2011 Annual Report, entitled "From Main Street to Bay Street and Beyond", 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. An ISO 9001-2008 certified company, 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. For more information on the Mint's history, its products and services, please visit www.mint.ca.
SOURCE Royal Canadian Mint