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Aberdeen International Inc. (TSX: AAB, FR: A8H, OTC: AABVF) Reports 2021 Q1 Results With Net Income of $0.02 Per Share and Shareholders’ Equity of $0.30 Per Share

Written by Customer Service on . Posted in Public Companies.

  • Total revenue of $4.0 million, including net gain on investments of $3.9 million
  • Net income for the three months ended April 30, 2021 was $3.3 million or $0.02 per basic share
  • As at April 30, 2021, Aberdeen’s shareholders’ equity and net asset value (NAV) were $41.0 million, or $0.30 per share. On a quarter-over-year basis, Aberdeen’s shareholders’ equity has increased by $8.6 million, representing an approximate 26% increase. Given the nature of Aberdeen’s operations, there is currently no difference between “shareholder equity” and “net asset value” for Aberdeen
  • Investments in clean energy and zero-carbon technologies positioning Aberdeen to deliver continued value as global decarbonization measures gather momentum

TORONTO, June 14, 2021 (GLOBE NEWSWIRE) — Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB F: A8H, OTC: AABVF) is pleased to announce that it has released its financial results for the first quarter ended April 30, 2021.

For the three months ended April 30, 2021, Aberdeen reported net income of $3.3 million or $0.02 per basic share on total revenue of $4.0 million. Revenue was comprised of $3.9 million from net investment gains and $0.1 million from interest income. For the three months ending April 30, 2020, Aberdeen reported net income of $1.6 million or $0.02 per basic share on total revenue of $1.8 million ($1.7 million from net investment gains and $0.1 million from interest income and advisory fees).

The Company’s investment portfolio incurred a net investment gain of $3.9 million on the back of Flora Growth Corp’s successful Nasdaq IPO. Furthermore, the Company’s recent investment in AMMPower Corp. – a green ammonia technology company – coupled with Brazil Potash’s successful closing of a new round of financing at US$4.00 per common share, contributed to the positive growth of the Company’s investment portfolio.

“We’re pleased to deliver another quarter of earnings growth, building on the strength of last year’s results. The quarter is reflective of the quality of our portfolio and the hard work that our investees’ management teams have put into driving value for shareholders. We are excited about the growing momentum in clean energy and continue to position the portfolio to capitalize on exciting opportunities in the space.”, said Chris Younger, CEO of Aberdeen International.

The Company continues to transition its investment strategy to a larger focus on clean energy, with particular interest in the hydrogen sector. The recent investment in AES-100 Inc. underscores the Company’s belief that hydrogen is on the verge of a breakthrough, driven by ever greater pressure on energy, industrial and transportation sector decarbonization and hydrogen’s viability as a mass-market low-carbon fuel. Hydrogen’s high energy to mass ratio makes it particularly suitable for heavy-duty, long-distance road freight, maritime and aviation applications.

ABOUT ABERDEEN INTERNATIONAL INC.

Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the rare metals and renewable energy sectors. AES-100 Inc., an Aberdeen portfolio investment, owns the exclusive rights and all intellectual property pertaining to the Advanced Electrolyzer System (AES-100) for the production of hydrogen from dilute syngas.

For additional information, please visit our website at www.aberdeen.green

For further information, please contact:

Chris Younger
Chief Executive Officer
Aberdeen International Inc.
Chris.Younger@ABERDEENINTERNATIONAL.CA
(416) 861-1685

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the investment portfolio of the Company; the renewable energies sector and the Company’s future plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.aberdeen.green/. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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