Corporation achieves $2.6 billion in revenue and $40.7 million in
pre-tax profits in 2012
OTTAWA, May 2, 2013 /CNW/ - May 2, 2013 - Once more, the Royal Canadian
Mint celebrates the achievements of another remarkable year with $2.6
billion in revenues and pre-tax profits of $40.7 million in 2012, the
Corporation's fifth highest net income ever. The year was marked by
diversification in all business lines, breaking away from traditional
business and into new markets and new areas of growth.
"In 2012, our ongoing efforts to innovate and diversify contributed to
the Mint's success with highest-ever numismatic sales and the launch of
new products, such as our new Canadian Silver Reserves Exchange Traded
Receipt (ETR)," said Ian E. Bennett, President and CEO of the Royal
Canadian Mint. "The Mint continues to explore innovative products and
processes and will open the new plating expansion facility and new
research and development centre, the Hieu C. Truong Centre of
Excellence, both in Winnipeg, in mid-June. Our employees continue to
surpass customer expectations while we remain at the forefront of new
technologies and vision to be the best Mint in the world."
Demand for numismatic coins climbed to an historic peak with the Mint
issuing 136 numismatic coins during 2012, selling out 60 by year-end.
The most popular themes in 2012 included the War of 1812; the 100th
Grey Cup® game; the 100th anniversary of the sinking of the RMS Titanic and the centennial of the Calgary Stampede. In addition, four "20 for
20" coins were produced, selling out mintages of 250,000 each.
While bullion coin sales softened over most of 2012 compared to 2011, a
sharp rise in demand in the fourth quarter bolstered the profitability
of the Bullion, Refinery and ETR business line. As aggressive demand
persists in 2013, the Mint continues to maximize its refining and
production capacity to supply to its global customers with over 440,000
ounces of Gold Maple Leaf and over 9 million ounces of Silver Maple
Leaf bullion coins sold by the end of April 2013; a 123% increase for
Gold Maple Leaf and 88% increase for Silver Maple Leaf over the same
period in 2012.
Other notable achievements for the Royal Canadian Mint in 2012 included:
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A dividend payment of $10 million to its shareholder, the Government of
Canada;
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The Mint launched the Canadian Silver Reserves Program in November 2012.
Five million Silver ETRs were issued at a unit price of $20 to raise
gross proceeds of $100 million;
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The Mint was nominated for seven awards at the Krause Publications
annual Coin of the Year awards, winning Best Silver Coin. The Mint also won two awards at Coin
Constellation-2012: Coin of the Year and Most Original Technology;
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Canadian circulation was affected by two significant changes; the last
penny was struck and a new generation of one-dollar and two-dollar
coins was launched into circulation; and
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The production and shipping of over 900 million coins and blanks for 13
countries. The majority of coins produced for foreign customers in
2012 used the Mint's cost-effective multi-ply plated steel
manufacturing process.
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 2012 Annual Report, entitled "Breaking Tradition", 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, its products and
services, visit www.mint.ca.
SOURCE: Royal Canadian Mint
