Latest news with #Non-IFRS
Hamilton Spectator
5 hours ago
- Business
- Hamilton Spectator
Timbercreek Financial Announces 2025 Second Quarter Results
TORONTO, July 30, 2025 (GLOBE NEWSWIRE) — Timbercreek Financial (TSX: TF) (the 'Company') announced today its financial results for the three and six months ended June 30, 2025 ('Q2 2025'). Q2 2025 Highlights1 'The second quarter delivered solid performance across most key metrics,' said Blair Tamblyn, CEO of Timbercreek Financial. 'Despite ongoing tariff-related macro volatility, commercial real estate conditions are positive in our key segments, and this is reflected in our growing portfolio and pipeline. Rates have stabilized in a more typical range, creating a positive backdrop as we look to further portfolio expansion. We're also pleased with the progress on our remaining staged loans, which is freeing up capital for new, higher-yielding investments.' Quarterly Comparison Quarterly Conference Call Interested parties are invited to participate in a conference call with management on Thursday, July 31, 2025 at 1:00 p.m. (ET) which will be followed by a question and answer period with analysts. To join the Zoom Webinar: If you are a Guest, please click the link below to join: Speakers will receive a separate link to the Webinar. The playback of the conference call will also be available on following the call. About the Company Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate professionals. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while generating strong risk-adjusted yields for investors. Further information is available on our website, . Non-IFRS Measures The Company prepares and releases financial statements in accordance with IFRS. As a complement to results provided in accordance with IFRS, the Company discloses certain financial measures not recognized under IFRS and that do not have standard meanings prescribed by IFRS (collectively the 'non-IFRS measures'). These non-IFRS measures are further described in Management's Discussion and Analysis ('MD&A') available on SEDAR+. Certain non-IFRS measures relating to net mortgages have been shown below. The Company has presented such non-IFRS measures because the Manager believes they are relevant measures of the Company's ability to earn and distribute cash dividends to shareholders and to evaluate its performance. The following non-IFRS financial measures should not be construed as alternatives to total net income and comprehensive income or cash flows from operating activities as determined in accordance with IFRS as indicators of the Company's performance. Certain statements contained in this news release may contain projections and 'forward looking statements' within the meaning of that phrase under Canadian securities laws. When used in this news release, the words 'may', 'would', 'should', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect', 'objective' and similar expressions may be used to identify forward looking statements. By their nature, forward looking statements reflect the Company's current views, beliefs, assumptions and intentions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, those risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The Company does not intend to nor assumes any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law. Net mortgage investments (In thousands of Canadian dollars, except units, per unit amounts and where otherwise noted) The Company's exposure to the financial returns is related to the net mortgage investments as mortgage syndication liabilities are non-recourse mortgages with periodic variance having no impact on Company's financial performance. Reconciliation of gross and net mortgage investments balance is as follows: Enhanced return portfolio Real estate held for sale, net of collateral liability SOURCE: Timbercreek Financial For further information, please contact: Timbercreek Financial Blair Tamblyn, CEO Tracy Johnston, CFO 416-923-9967
Business Wire
8 hours ago
- Business
- Business Wire
Trigon Metals Reports Fourth Quarter Operational and Financial Results
TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF, FRA: TZU2) ('Trigon' or the 'Company') announces it has filed its financial statements for the year ended March 31, 2025 and details below the operational results for the quarter ending March 31, 2025. All amounts are expressed in U.S. dollars, unless otherwise stated. Highlights Copper Production of 310,190 pounds and silver production of 6,878 ounces in Q4 at the Kombat Mine, following operational suspension in January 2025. Net Income: $18.1 million for the quarter, or ($0.38) per share, largely due to reversal of impairments and stream restructuring gains. Adjusted EBITDA (1) was ($906,952), reflecting reduced output and continued care and maintenance of the Kombat Mine. Following the pause of mining operations announced on January 16, 2025, the Company has withdrawn all production, capex and exploration guidance. The Trigon management team is focused on completing the sale of its interests in the Kombat mine to Horizon, as set out below. Mining operations were suspended, with the majority of the onsite employees retrenched. Summary of the Events of Financial Q4 During the quarter ended March 31, 2025, Trigon produced 310,190 pounds of copper and 6,878 ounces of silver prior to halting operations at the Kombat mine due to flooding in January 2025. C1 cash cost was $7.50 per pound. The high cash cost per pound metric was due to the low copper production combined with low copper plant recovery. Revenue totaled $1.92 million, while adjusted EBITDA (1) was ($906,952). Net income was $18.1 million due to the reversal of prior impairments. Table 1: Operating and Financial Highlights OP = Open Pit UG = Underground (1)EBITDA, net income (loss) attributable to owners of the Company, income (loss) per share attributable to owners of the Company, net (cash), working capital, C1 cash cost, copper production are non-IFRS measures. These measures do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company's discussion of Non-IFRS measures in its Management Discussion and Analysis for the three months ended June 30, 2024. Jed Richardson, CEO and Executive Chairman of Trigon, commented, ' This quarter was shaped by both significant operational challenges and transformative corporate developments. While the flooding at Kombat required us to place operations on care and maintenance, the signing of the definitive agreement to sell Trigon's interest in the mine saved the Company. It strengthens our financial position and allows us to focus our energy and capital on high-potential exploration projects in Morocco and Namibia. We thank our team for navigating this period with resilience and remain optimistic about Trigon's next chapter.' Sale of Trigon's Interest in the Kombat Mine On May 27, 2025, the Company signed a definitive agreement to sell its interest in the Kombat Mine to Kamino Mineral Ltd., an affiliate of Horizon Corporation (the 'Transaction'). The $24 million sale, payable over eight quarterly instalments, includes additional contingent payments tied to copper prices and mill expansion milestones. The Transaction is expected to provide Trigon with near-term liquidity and exposure to future upside at Kombat while redirecting strategic focus to its exploration assets. Private Placement In Q4, Trigon completed a non-brokered private placement in two tranches, raising gross proceeds of $2.53 million. Proceeds were used to fund corporate expenses and maintain the Kombat site during care and maintenance. Strategic Shift to Focus on Exploration Trigon is progressing its exploration campaigns at the Silver Hill and Addana projects in Morocco. The Company's technical team continues to evaluate extensive polymetallic vein systems with potential for near-surface, high-grade mineralization. Work continues at the Kalahari Copperbelt Project in Namibia, where Trigon holds an option to earn up to 70% of a highly prospective land package along strike from producing deposits. A total of $303,742 has been spent toward a $1 million exploration commitment. Qualified Person The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101. Non IFRS Measures The Company has included certain non-IFRS performance measures, namely working capital, C1 costs, EBITDA and Adjusted EBITDA throughout this document. In the mining industry, these are common non-IFRS performance measures but do not have a standardized meaning. As a result, these measures may not be comparable to similar measures presented by other companies. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, we and certain investors use this information to evaluate the Company's performance and ability to generate cash, profits and meet financial commitments. Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As a result, these measures may not be comparable to similar measures presented by other companies. Further details of the financial results, the Q4 and year end financial statement and management discussion and analysis ('MD&A') are available under the Company's profile on SEDAR+ at Trigon Metals Inc. Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding the Company's mining operations, the financial results of the Company, the timing and results of mining activities, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, the restarting of the Kombat mine, the economic viability of the Kombat mine, the Company's ability to obtain financing, the Transaction, the Company's ability to complete the Transaction, the Company's ability to expand or replace mineral resources and reserves, the projected costs and production at the Kombat mine, planned capital expenditures, the prices of copper and silver, foreign currency exchange rates, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
19 hours ago
- Business
- Yahoo
Takeda Announces First-Quarter FY2025 Results With Significant Late-Stage Pipeline Progression
Revenue Decline of 3.7% at Constant Exchange Rate (CER); 8.4% Decline at Actual Exchange Rates (AER) as VYVANSE® Generic Erosion Impacts Revenue in Line With Company Expectations Core Operating Profit Decline of 11.9% at CER, Primarily Reflecting Generic Erosion Reported Operating Profit Increase of 11.0% at AER, Reflecting Lower YoY Impairment and Restructuring Expenses Positive Results from Two Pivotal Phase 3 Studies of Oveporexton in Narcolepsy Type 1 Reinforce Continued Momentum in Late-Stage Pipeline No Change to Full-Year Outlook Announced in May OSAKA, Japan, July 30, 2025--(BUSINESS WIRE)--Takeda (TOKYO:4502/NYSE:TAK) today announced earnings results for the first quarter of fiscal year 2025 (three months ended June 30, 2025), with generic erosion of VYVANSE significantly impacting revenue and Core Operating Profit in line with company expectations for the quarter. The company expects these impacts to moderate in future quarters. Takeda also achieved several important milestones in its R&D pipeline, reinforcing its long-term growth trajectory and underscoring its commitment to delivering sustainable value through innovation. Most notably, both Phase 3 studies of oveporexton successfully met all primary and secondary endpoints, demonstrating statistically significant improvements across doses. These results reinforce the potential of oveporexton to transform the standard of care in narcolepsy type 1. In addition, Takeda received U.S. FDA approval for GAMMAGARD® LIQUID ERC and European Commission (EC) approval for ADCETRIS® in new indications and presented promising clinical data for rusfertide at the 61st American Society of Clinical Oncology (ASCO) Annual Meeting Plenary Session. These developments underscore the strength of Takeda's late-stage pipeline and its potential to drive future growth. Takeda chief financial officer, Milano Furuta, commented:"The impact of VYVANSE generic erosion on Takeda's FY2025 Q1 results was very significant, but consistent with our expectations, and there is no change to our full-year outlook announced in May. "Our late-stage pipeline continues to advance with the announcement in July of positive results from two pivotal Phase 3 studies for oveporexton in narcolepsy type 1, with both studies meeting all primary and secondary endpoints. These results represent a significant scientific milestone, and we are very excited about the potential for our late-stage pipeline to deliver value to the patients we serve and to position Takeda for sustainable growth." FINANCIAL HIGHLIGHTS for FY2025 Q1 Ended June 30, 2025 (Billion yen, except percentages and per share amounts) FY2025 Q1 FY2024 Q1 vs. PRIOR YEAR (Actual % change) Revenue 1,106.7 1,208.0 -8.4% Operating Profit 184.6 166.3 +11.0% Net Profit 124.2 95.2 +30.4% EPS (Yen) 79 61 +30.8% Operating Cash Flow 215.4 170.3 +26.5% Adjusted Free Cash Flow (Non-IFRS) 190.1 23.7 +703.6% Core (Non-IFRS) (Billion yen, except percentages and per share amounts) FY2025 Q1 FY2024 Q1 vs. PRIOR YEAR (Actual % change) vs. PRIOR YEAR (CER % change) Revenue 1,106.7 1,208.0 -8.4% -3.7% Operating Profit 321.8 382.3 -15.8 % -11.9% Margin 29.1% 31.6% -2.6 pp ― Net Profit 237.0 276.8 -14.4% -10.3% EPS (Yen) 151 176 -14.1% -10.0% FY2025 Outlook (unchanged from May 2025) (Billion yen, except percentages and per share amounts) FY2025 FORECAST FY2025 MANAGEMENT GUIDANCE Core Change at CER (Non-IFRS) Revenue 4,530.0 --- Core Revenue (Non-IFRS) 4,530.0 Broadly flat Operating Profit 475.0 --- Core Operating Profit (Non-IFRS) 1,140.0 Broadly flat Net Profit 228.0 --- EPS (Yen) 145 --- Core EPS (Yen) (Non-IFRS) 485 Broadly flat Adjusted Free Cash Flow (Non-IFRS) 750.0-850.0 --- Annual Dividend per Share (Yen) 200 --- Additional Information About Takeda's FY2025 Q1 ResultsFor more details about Takeda's FY2025 Q1 results, commercial progress, pipeline updates and other financial information, including key assumptions in the FY2025 forecast and management guidance as well as definitions of non-IFRS measures, please refer to Takeda's FY2025 Q1 investor presentation (available at About TakedaTakeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit Important NoticeFor the purposes of this notice, "press release" means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited ("Takeda") regarding this press release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws. The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, "Takeda" is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners. Forward-Looking StatementsThis press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda's future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as "targets", "plans", "believes", "hopes", "continues", "expects", "aims", "intends", "ensures", "will", "may", "should", "would", "could", "anticipates", "estimates", "projects", "forecasts", "outlook" or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda's global business, including general economic conditions in Japan and the United States and with respect to international trade relations; competitive pressures and developments; changes to applicable laws and regulations, including tax, tariff and other trade-related rules; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic; the success of our environmental sustainability efforts, in enabling us to reduce our greenhouse gas emissions or meet our other environmental goals; the extent to which our efforts to increase efficiency, productivity or cost-savings, such as the integration of digital technologies, including artificial intelligence, in our business or other initiatives to restructure our operations will lead to the expected benefits; and other factors identified in Takeda's most recent Annual Report on Form 20-F and Takeda's other reports filed with the U.S. Securities and Exchange Commission, available on Takeda's website at: at does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda's future results. Financial information and Non-IFRS MeasuresTakeda's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit for the year attributable to owners of the Company, Core EPS, Constant Exchange Rate ("CER") change, Net Debt, Adjusted Net Debt, EBITDA, Adjusted EBITDA, Free Cash Flow and Adjusted Free Cash Flow. Takeda's management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this press release. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. Takeda's non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as "reported" measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS measures to their most directly comparable IFRS measures, which are in the Financial Appendix appearing at the end of our FY2025 Q1 investor presentation (available at Peak Sales and PTRS EstimatesReferences in this press release to peak revenue potential ranges are estimates that have not been adjusted for probability of technical and regulatory success (PTRS) and should not be considered a forecast or target. These peak revenue potential ranges represent Takeda's assessments of various possible future commercial scenarios that may or may not occur. References in this press release to PTRS are to internal estimates of Takeda regarding the likelihood of obtaining regulatory approval for a particular product in a particular indication. These estimates reflect the subjective judgment of responsible Takeda personnel and have been approved by Takeda's Portfolio Review Committee for use in internal planning. Medical informationThis press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development. Please refer to slide 6 of Takeda's FY2025 Q1 investor presentation (available at for the definition of Growth & Launch Products. View source version on Contacts Investor Relations Christopher O' +81 (0) 90-6481-3412 Media Relations Brendan +81 (0) 80-2705-8259(Outside Japan business hours)Media_Relations@
Business Wire
19 hours ago
- Business
- Business Wire
Takeda Announces First-Quarter FY2025 Results With Significant Late-Stage Pipeline Progression
OSAKA, Japan--(BUSINESS WIRE)--Takeda (TOKYO:4502/NYSE:TAK) today announced earnings results for the first quarter of fiscal year 2025 (three months ended June 30, 2025), with generic erosion of VYVANSE significantly impacting revenue and Core Operating Profit in line with company expectations for the quarter. The company expects these impacts to moderate in future quarters. Takeda also achieved several important milestones in its R&D pipeline, reinforcing its long-term growth trajectory and underscoring its commitment to delivering sustainable value through innovation. Most notably, both Phase 3 studies of oveporexton successfully met all primary and secondary endpoints, demonstrating statistically significant improvements across doses. These results reinforce the potential of oveporexton to transform the standard of care in narcolepsy type 1. In addition, Takeda received U.S. FDA approval for GAMMAGARD ® LIQUID ERC and European Commission (EC) approval for ADCETRIS ® in new indications and presented promising clinical data for rusfertide at the 61st American Society of Clinical Oncology (ASCO) Annual Meeting Plenary Session. These developments underscore the strength of Takeda's late-stage pipeline and its potential to drive future growth. Takeda chief financial officer, Milano Furuta, commented: 'The impact of VYVANSE generic erosion on Takeda's FY2025 Q1 results was very significant, but consistent with our expectations, and there is no change to our full-year outlook announced in May. 'Our late-stage pipeline continues to advance with the announcement in July of positive results from two pivotal Phase 3 studies for oveporexton in narcolepsy type 1, with both studies meeting all primary and secondary endpoints. These results represent a significant scientific milestone, and we are very excited about the potential for our late-stage pipeline to deliver value to the patients we serve and to position Takeda for sustainable growth.' Core (Non-IFRS) (Billion yen, except percentages and per share amounts) FY2025 Q1 FY2024 Q1 vs. PRIOR YEAR (Actual % change) vs. PRIOR YEAR (CER % change) Revenue 1,106.7 1,208.0 -8.4% -3.7% Operating Profit 321.8 382.3 -15.8 % -11.9% Margin 29.1% 31.6% -2.6 pp ― Net Profit 237.0 276.8 -14.4% -10.3% EPS (Yen) 151 176 -14.1% -10.0% Expand FY2025 Outlook (unchanged from May 2025) (Billion yen, except percentages and per share amounts) Revenue 4,530.0 --- Core Revenue (Non-IFRS) 4,530.0 Broadly flat Operating Profit 475.0 --- Core Operating Profit (Non-IFRS) 1,140.0 Broadly flat Net Profit 228.0 --- EPS (Yen) 145 --- Core EPS (Yen) (Non-IFRS) 485 Broadly flat Adjusted Free Cash Flow (Non-IFRS) 750.0-850.0 --- Annual Dividend per Share (Yen) 200 --- Expand Additional Information About Takeda's FY2025 Q1 Results For more details about Takeda's FY2025 Q1 results, commercial progress, pipeline updates and other financial information, including key assumptions in the FY2025 forecast and management guidance as well as definitions of non-IFRS measures, please refer to Takeda's FY2025 Q1 investor presentation (available at About Takeda Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit Important Notice For the purposes of this notice, 'press release' means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited ('Takeda') regarding this press release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws. The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, 'Takeda' is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words 'we', 'us' and 'our' are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners. Forward-Looking Statements This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda's future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as 'targets', 'plans', 'believes', 'hopes', 'continues', 'expects', 'aims', 'intends', 'ensures', 'will', 'may', 'should', 'would', 'could', 'anticipates', 'estimates', 'projects', 'forecasts', 'outlook' or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda's global business, including general economic conditions in Japan and the United States and with respect to international trade relations; competitive pressures and developments; changes to applicable laws and regulations, including tax, tariff and other trade-related rules; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic; the success of our environmental sustainability efforts, in enabling us to reduce our greenhouse gas emissions or meet our other environmental goals; the extent to which our efforts to increase efficiency, productivity or cost-savings, such as the integration of digital technologies, including artificial intelligence, in our business or other initiatives to restructure our operations will lead to the expected benefits; and other factors identified in Takeda's most recent Annual Report on Form 20-F and Takeda's other reports filed with the U.S. Securities and Exchange Commission, available on Takeda's website at: or at does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda's future results. Financial information and Non-IFRS Measures Takeda's financial statements are prepared in accordance with International Financial Reporting Standards ('IFRS'). This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit for the year attributable to owners of the Company, Core EPS, Constant Exchange Rate ('CER') change, Net Debt, Adjusted Net Debt, EBITDA, Adjusted EBITDA, Free Cash Flow and Adjusted Free Cash Flow. Takeda's management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this press release. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. Takeda's non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as 'reported' measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS measures to their most directly comparable IFRS measures, which are in the Financial Appendix appearing at the end of our FY2025 Q1 investor presentation (available at Peak Sales and PTRS Estimates References in this press release to peak revenue potential ranges are estimates that have not been adjusted for probability of technical and regulatory success (PTRS) and should not be considered a forecast or target. These peak revenue potential ranges represent Takeda's assessments of various possible future commercial scenarios that may or may not occur. References in this press release to PTRS are to internal estimates of Takeda regarding the likelihood of obtaining regulatory approval for a particular product in a particular indication. These estimates reflect the subjective judgment of responsible Takeda personnel and have been approved by Takeda's Portfolio Review Committee for use in internal planning. Medical information This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development. Please refer to slide 6 of Takeda's FY2025 Q1 investor presentation (available at for the definition of Growth & Launch Products.
Yahoo
a day ago
- Business
- Yahoo
Sun Residential REIT Reports Second Quarter 2025 Results and Provides Update Regarding Asset Sales and Distributions
Toronto, Ontario--(Newsfile Corp. - July 29, 2025) - Sun Residential Real Estate Investment Trust (TSXV: SRES) today released its financial results for the three and six months ended June 30, 2025. All amounts are in United States dollars unless otherwise noted. "C$" refers to Canadian dollars. Revenue for the three months ended June 30, 2025, was $1,490,690, an increase of 3.6% compared with the same period in the prior year. Net income and comprehensive income for the three months ended June 30, 2025 was $69,303, compared to $279,332 in the prior year. Funds from operations (FFO) of $145,049 and adjusted funds from operations (AFFO) of $143,391 increased by 39% from the previous year. Revenue for the six months ended June 30, 2025, was $2,966,837, an increase of 2.8% compared with the same period in the prior year. Net income and comprehensive income for the six months ended June 30, 2025 was $803,117, a decrease of $14.3%, after recording loss on sale of $567,573. Funds from operations (FFO) of $328,440 and adjusted funds from operations (AFFO) of $326,782 increased by 7.7% from the previous year. At June 30, 2025, Sun had total assets of $17.7 million (December 31, 2024 - $64.5 million), and cash and cash equivalents of $17.7 million (December 31, 2024 - $3.3 million). Working capital at June 30, 2025, was $16.8 million (December 31, 2024 - $3.3 million). During June, Sun sold its two properties and is in the process of being wound-up, terminated and delisted. The first of two wind-up distributions, of C$0.10 per unit, was paid on July 24, 2025. A second distribution, which will be for less than 10% of the proceeds will be paid at a future date. "The sale of our two primary assets and the subsequent return of capital and profit benefits our unitholders," noted Robert C. Wetenhall, Jr., Chief Executive Officer. "We thank our unitholders for their patience and loyalty." Additional highlights (at June 30, 2025 or for the three and six months then ended, unless otherwise noted) Net operating income margin - 55% FFO (funds from operations) for the three months ended June 30, 2025 - $145,049 (previous year - $150,185). FFO (funds from operations) for the six months ended June 30, 2025 - $328,440 (previous year - $350,515). AFFO (adjusted funds from operations) for the three months ended June 30, 2025 - $143,391 (previous year - $102,997). AFFO (adjusted funds from operations) for the six months ended June 30, 2025 - $326,782 (previous year - $303,327). A reconciliation to non-IFRS measures is set out below. For further information on the financial results as well as analysis of operational statistics, please refer to Sun's consolidated financial statements and its management's discussion and analysis for the period ended June 30, 2025 available on SEDAR+ at and on Sun's website at Non-IFRS Financial Measures FFO, AFFO and net operating income margin, are key measures of performance commonly used by real estate investment trusts. They are not measures recognized under International Financial Reporting Standards (IFRS) and do not have meanings prescribed by IFRS. FFO, AFFO, and net operating income margin as calculated by Sun may not be comparable to similar measures presented by other issuers. Please see the table below for reconciliations to IFRS months endedSix months ended June 30June 30 2025202420252024Net income (loss) attributable to unitholders unitholders $(389,920 ) $ (5,207 ) $ (215,103 ) $ 255,288Adjustments to arrive at FFO Fair value adjustment to income producing investment properties 3,251 92,525 (346,749 )92,525Realty taxes not accounted for under IFRIC 21 (245,100 )(250,200 )(490,200 )(500,400 ) Non-controlling interest 118,506 77,261 410,105 199,859Fair value adjustment to property under development - 265,557 272,506 265,557Loss on sale of properties 567,573 - 567,573 -Professional fees related to windup 75,468 - 75,468 -Income taxes 2,933 (30,357 )43,028 36,203Loss (gain) on foreign currency translation12,338 606 11,814 1,483Funds from operations (FFO) 145,049 150,185 328,442 350,515Adjustments to arrive at AFFO Capital expenditures (3,251 )(92,525 )(3,251 )(92,525 ) Non-controlling interest 1,593 45,337 1,593 45,337Adjusted funds from operations (AFFO) $143,391$ 102,997$ 326,784$ 303,327 Weighted average number of units 203,338,999203,338,999203,338,999203,338,999FFO per unit $0.0007$ 0.0007$ 0.0016$ 0.0017AFFO per unit $0.0007$ 0.0005$ 0.0016$ 0.0015 About Sun Residential REIT Sun Residential Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust dated January 22, 2019, as amended and restated on March 22, 2019 and November 4, 2020. As announced previously, Sun is in the process of distributing its net cash to its unitholders and will then terminate the trust. Caution regarding forward-looking statements Forward-looking statements in this news release, and elsewhere reflect Sun's current assumptions, expectations, and projections. Often, but not always, forward‐looking statements can be identified by words such as "planned," "expects," "expecting," "anticipated," "have confidence," or "believes," or variations of such words and phrases or state that certain actions, events, or results "may," "could," "would," or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Sun's actual results or achievements to be materially different from those expressed or implied by the forward-looking statements. The forward-looking statements made in this news release relate only to events or information as of the date hereof. All forward-looking statements are based on assumptions that may prove to be incorrect. Furthermore, forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations that are difficult to predict and mostly beyond the control of Sun. Except as specifically required by Canadian securities law, Sun undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Many factors will cause actual results to differ, perhaps materially, from results in the forward-looking statements: for a description of such factors please refer to the Management's Discussion and Analysis for the three and six month periods ended June 30, 2025, available at or at For further information, please contact: Robert C. Wetenhall Executive Officer rwetenhall@ Jeffrey D. Sherman,Chief Financial Officer jsherman@ 214-2228 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
