Reports Q2 2021 Results VANCOUVER, BC – TheNewswire - August 25, 2021 – BQE Water Inc. (TSXV:BQE), a leader in the treatment and management of mine impacted waters, is pleased to release its interim consolidated financial results for the three and six months ended June 30, 2021.
“Our financial results for the first half of the year have set new records for Proportional Revenue and Adjusted EBITDA, recording $5.7 million and $1.2 million respectively,” stated David Kratochvil, President & CEO of BQE Water. “Building on the growth trajectory that started last year, we are going into the second half of this year with a positive outlook. So far this year, we have brought online two new water treatment plants that are contributing recurring revenues and our second Selen-IX™ treatment plant, our first project outside of mining at an ash pond in the US, is expected to be fully operational by the year end.”
FINANCIAL HIGHLIGHTS
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- Adjusted EBITDA for Q2 2021 was $1.4 million compared to $412,000 in Q2 2020, a 248% increase.
- Proportional Revenue for Q2 2021 was $4.2 million, a $1.4 million or 51% increase from $2.8 million in Q2 2020.
- Net Income increased by $864,000 to $809,000 in Q2 2021, compared to a net loss of $55,000 in Q2 2020.
- Working capital was $2.4 million at June 30, 2021, compared to $3.5 million at December 31, 2020, and $2.2 million at June 30, 2020, a 9% increase over the last 12 months.
- Proportional Cash, which includes our share held in joint ventures, at June 30, 2021 was $5.0 million, compared to $5.2 million at December 31, 2020, and $3.4 million at June 30, 2020, a 47% increase over the last 12 months.
https://www.thenewswire.com/press-releases/1LPRFqdYd-bqe-water-reports-q2-2021-results.html