Atrium Mortgage Investment Corporation Announces First Quarter Results With Strong Quarterly Net Income
Atrium Mortgage Investment Corporation Announces First Quarter Results With Strong Quarterly Net Income
Toronto, Ontario--(Newsfile Corp. - May 14, 2024) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.C) (TSX: AI.DB.D) (TSX: AI.DB.E) (TSX: AI.DB.F) (TSX: AI.DB.G) today released its financial results for the three month period ended March 31, 2024.
安大略省多倫多--（Newsfile Corp.，2024年5月14日）——Atrium抵押貸款投資公司（多倫多證券交易所股票代碼：AI.DB.C）（多倫多證券交易所股票代碼：AI.DB.D）（多倫多證券交易所股票代碼：AI.DB.G）（多倫多證券交易所股票代碼：AI.DB.G）（多倫多證券交易所股票代碼：AI.DB.G）今天公佈了截至2024年3月31日的三個月期間的財務業績。
Highlights
亮點
Quarterly basic and diluted earnings per share of $0.27
Quarterly net income of $12.0 million
Mortgage portfolio of $886.1 million, up 4.8% over Q1 of the prior year
-
High quality mortgage portfolio
96.7% of portfolio in first mortgages
91.2% of portfolio is less than 75% loan to value
average loan-to-value is 64.0%
季度基本和攤薄後每股收益爲0.27美元
季度淨收入爲1,200萬美元
抵押貸款組合爲8.861億美元，比去年第一季度增長4.8％
-
高質量的抵押貸款組合
首次抵押貸款投資組合的96.7％
投資組合的91.2％低於貸款價值的75％
平均貸款價值比爲64.0％
"Atrium began 2024 with another strong quarter. Earnings per share of $0.27 was consistent with our fourth quarter results and significantly exceeded the dividends declared of $0.225. Our lending program is specifically targeting lower risk sectors in order to protect shareholder capital during this downturn in the cycle. Maintaining a defensive portfolio remains our top priority. At quarter end, the weighted average loan to value on the mortgage portfolio remained conservative at 64.0%, and 96.7% of Atrium's mortgages were first mortgages. Despite the mortgage portfolio performing well in Q1, we decided to increase our allowance for mortgage losses in recognition of the continued challenges experienced by real estate markets across Canada. While the prospect of lower rates and easing inflation in the second half of the year should improve market conditions, we intend to remain diligent in managing the existing portfolio and continue to focus on our preferred sectors for new loan business," said Rob Goodall, CEO of Atrium.
“Atrium 在 2024 年開始時又是一個強勁的季度。每股收益爲0.27美元，與我們的第四季度業績一致，大大超過了宣佈的0.225美元的股息。我們的貸款計劃專門針對風險較低的行業，以便在週期低迷時期保護股東資本。維持防禦性投資組合仍然是我們的首要任務。在本季度末，抵押貸款組合的加權平均貸款價值佔比保持保守，爲64.0％，而Atrium的抵押貸款中有96.7％是首次抵押貸款。儘管抵押貸款組合在第一季度表現良好，但考慮到加拿大各地房地產市場持續面臨的挑戰，我們決定增加抵押貸款損失備抵額。儘管下半年降低利率和緩解通貨膨脹的前景將改善市場狀況，但我們打算繼續努力管理現有投資組合，並繼續專注於新貸款業務的首選領域。” Atrium首席執行官羅布·古道爾表示。
Conference call
電話會議
Interested parties are invited to participate in a conference call with management on Wednesday, May 15, 2024 at 4:00 p.m. ET to discuss the results. To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: First quarter results). For a replay of the conference call (available until May 28, 2024) please call 1-833-607-0619, password 6057203#.
邀請有關各方參加美國東部時間2024年5月15日星期三下午 4:00 與管理層的電話會議，討論結果。要參加或收聽電話會議直播，請致電1-833-491-0507（電話會議主題：第一季度業績）。如需重播電話會議（有效期至 2024 年 5 月 28 日），請致電 1-833-607-0619，密碼 6057203#。
Results of operations
操作結果
For the three month period ended March 31, 2024, Atrium reported assets of $868.3 million, slightly down from $877.9 million at the end of 2023. Revenues were $25.2 million, an increase of 6.3% from the first quarter of the prior year. Net income for first quarter of 2024 was $12.0 million, a decrease of 15.3% from the first quarter of the prior year. Atrium's allowance for mortgage losses at March 31, 2024 totaled $24.9 million, or 2.81% of the mortgage portfolio, which is up from $22.6 million or 2.53% of the mortgage portfolio at December 31, 2023.
在截至2024年3月31日的三個月期間，Atrium公佈的資產爲8.683億美元，略低於2023年底的8.779億美元。收入爲2520萬美元，比去年第一季度增長6.3％。2024年第一季度的淨收入爲1,200萬美元，比上年第一季度下降15.3％。截至2024年3月31日，Atrium的抵押貸款損失準備金總額爲2490萬美元，佔抵押貸款組合的2.81％，高於2023年12月31日的2,260萬美元，佔抵押貸款組合的2.53％。
Basic and diluted earnings per common share were $0.27, for the three months ended March 31, 2024, compared with $0.33 and $0.31 basic and diluted earnings per common share in the comparative period, a decrease of 18.2% (basic) and 12.9% (diluted).
截至2024年3月31日的三個月，普通股每股基本收益和攤薄收益爲0.27美元，而同期普通股基本收益和攤薄後每股普通股收益分別爲0.33美元和0.31美元，下降18.2％（基本）和12.9％（攤薄後）。
Mortgages receivable as at March 31, 2024 was $867.1 million, down from $876.7 million as at December 31, 2023. During the three month period ended March 31 2024, $78.4 million of mortgage principal was advanced and $81.6 million was repaid. The weighted average interest rate on the mortgage portfolio at March 31, 2024 was 11.25%, compared to 11.42% at December 31, 2023.
截至2024年3月31日，應收抵押貸款爲8.671億美元，低於截至2023年12月31日的8.767億美元。在截至2024年3月31日的三個月期間，預付了7,840萬美元的抵押貸款本金，償還了8,160萬美元。截至2024年3月31日，抵押貸款組合的加權平均利率爲11.25％，而2023年12月31日的加權平均利率爲11.42％。
Financial summary
Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited, 000s, except per share amounts)
財務摘要
中期合併收益表和綜合收益表
（未經審計，000秒，每股金額除外）
| |
Three months ended | |
||||
| |
March 31 | |
||||
| |
2024 | 2023 | |
|||
| Revenue | $ | 25,193 |
$ | 23,707 |
||
| Mortgage servicing and management fees | (2,076) | (2,054) | ||||
| Other expenses | (406) | (444) | ||||
| Recovery of prior mortgage losses | - |
157 |
||||
| Provision for mortgage losses | |
(3,854) | (952) | |||
| Income before financing costs | 18,857 |
20,414 |
||||
| Financing costs | |
(6,816) | (6,202) | |||
| Net income and comprehensive income | $ | 12,041 |
$ | 14,212 | ||
| |
|
|||||
| Basic earnings per share | $ | 0.27 |
$ | 0.33 |
||
| Diluted earnings per share | $ | 0.27 |
$ | 0.31 |
||
| |
|
|||||
| |
|
|||||
| Dividends declared | $ | 9,931 |
$ | 9,785 |
||
| |
|
|||||
| |
|
|||||
| Mortgages receivable, end of period | $ | 867,078 |
$ | 840,019 |
||
| Total assets, end of period | $ | 868,279 |
$ | 854,511 |
||
| Shareholders' equity, end of period | $ | 487,276 |
$ | 482,763 |
||
| Book value per share, end of period | $ | 11.02 |
$ | 11.08 |
||
| |
三個月已結束 | |
||||
| |
3 月 31 日 | |
||||
| |
2024 | 2023 | |
|||
| 收入 | $ | 25,193 |
$ | 23,707 |
||
| 抵押貸款服務和管理費 | (2,076) | (2,054) | ||||
| 其他開支 | (406) | (444) | ||||
| 追回先前的抵押貸款損失 | - |
157 |
||||
| 抵押貸款損失準備金 | |
(3,854) | (952) | |||
| 融資成本前的收入 | 18,857 |
20,414 |
||||
| 融資成本 | |
(6,816) | (6,202) | |||
| 淨收益和綜合收益 | $ | 12,041 |
$ | 14,212 | ||
| |
|
|||||
| 每股基本收益 | $ | 0.27 |
$ | 0.33 |
||
| 攤薄後的每股收益 | $ | 0.27 |
$ | 0.31 |
||
| |
|
|||||
| |
|
|||||
| 已申報分紅 | $ | 9,931 |
$ | 9,785 |
||
| |
|
|||||
| |
|
|||||
| 應收抵押貸款，期末 | $ | 867,078 |
$ | 840,019 |
||
| 期末總資產 | $ | 868,279 |
$ | 854,511 |
||
| 股東權益，期末 | $ | 487,276 |
$ | 482,763 |
||
| 每股賬面價值，期末 | $ | 11.02 |
$ | 11.08 |
||
Analysis of mortgage portfolio
抵押貸款組合分析
| As at March 31, 2024 | As at December 31, 2023 | |
||||||||||||||
| Outstanding | % of | Outstanding | % of | |||||||||||||
| Property Type | Number | |
amount | Portfolio | Number | amount | Portfolio | |
||||||||
| (outstanding amounts in 000s) | ||||||||||||||||
| High-rise residential | 21 | $ | 318,497 |
35.9% |
22 |
$ | 323,340 |
36.2% |
||||||||
| Mid-rise residential | 23 | 179,523 |
20.3% |
25 |
208,289 |
23.3% |
||||||||||
| Low-rise residential | 15 | 155,859 |
17.6% |
14 |
153,561 |
17.2% |
||||||||||
| House and apartment | 164 | 125,089 |
14.1% |
153 |
117,943 |
13.2% |
||||||||||
| Condominium corporation | 10 | 1,691 |
0.2% |
10 |
1,786 |
0.2% | ||||||||||
| Residential portfolio | 233 | 780,659 |
88.1% |
224 |
804,919 |
90.1% |
||||||||||
| Commercial | 17 | 105,429 |
11.9% |
19 |
88,640 |
9.9% | ||||||||||
| Mortgage portfolio | 250 | $ | 886,088 |
100.0% |
243 |
$ | 893,559 |
100.0% | ||||||||
| 截至2024年3月31日 | 截至2023年12月31日 | |
||||||||||||||
| 傑出 | % 的 | 傑出 | % 的 | |||||||||||||
| 房產類型 | 數字 | |
金額 | 投資組合 | 數字 | 金額 | 投資組合 | |
||||||||
| （以000年代爲單位的未繳款額） | ||||||||||||||||
| 高層住宅 | 21 | $ | 318,497 |
35.9% |
22 |
$ | 323,340 |
36.2% |
||||||||
| 中層住宅 | 23 | 179,523 |
20.3% |
25 |
208,289 |
23.3% |
||||||||||
| 低層住宅 | 15 | 155,859 |
17.6% |
14 |
153,561 |
17.2% |
||||||||||
| 房子和公寓 | 164 | 125,089 |
14.1% |
153 |
117,943 |
13.2% |
||||||||||
| 公寓公司 | 10 | 1,691 |
0.2% |
10 |
1,786 |
0.2% | ||||||||||
| 住宅投資組合 | 233 | 780,659 |
88.1% |
224 |
804,919 |
90.1% |
||||||||||
| 商用 | 17 | 105,429 |
11.9% |
19 |
88,640 |
9.9% | ||||||||||
| 抵押貸款組合 | 250 | $ | 886,088 |
100.0% |
243 |
$ | 893,559 |
100.0% | ||||||||
| As at March 31, 2024 | ||||||||||||||
| Weighted | Weighted | |||||||||||||
| |
|
|
average | average | ||||||||||
| Location of underlying property |
Number of mortgages |
Outstanding amount |
Percentage outstanding |
loan to value |
interest rate |
|||||||||
| (outstanding amounts in 000s) | ||||||||||||||
| Greater Toronto Area | 173 | $ | 667,028 |
75.3% |
60.8% |
11.40% |
||||||||
| Non-GTA Ontario | 55 | 41,449 |
4.7% |
64.8% |
9.85% |
|||||||||
| British Columbia | 21 | 170,161 |
19.2% |
75.7% |
10.89% |
|||||||||
| Alberta | 1 | 7,450 |
0.8% |
71.0% |
14.00% | |||||||||
| 250 | $ | 886,088 |
100.0% |
64.0% |
11.25% | |||||||||
| 截至2024年3月31日 | ||||||||||||||
| 加權 | 加權 | |||||||||||||
| |
|
|
平均的 | 平均的 | ||||||||||
| 標的財產的位置 |
的數量 抵押貸款 |
傑出 金額 |
百分比 傑出的 |
貸款給 價值 |
利息 評分 |
|||||||||
| （以000年代爲單位的未繳款額） | ||||||||||||||
| 大多倫多地區 | 173 | $ | 667,028 |
75.3% |
60.8% |
11.40% |
||||||||
| 非 GTA 安大略省 | 55 | 41,449 |
4.7% |
64.8% |
9.85% |
|||||||||
| 不列顛哥倫比亞省 | 21 | 170,161 |
19.2% |
75.7% |
10.89% |
|||||||||
| 阿爾伯塔 | 1 | 7,450 |
0.8% |
71.0% |
14.00% | |||||||||
| 250 | $ | 886,088 |
100.0% |
64.0% |
11.25% | |||||||||
| As at December 31, 2023 | ||||||||||||||
| Weighted | Weighted | |||||||||||||
| |
|
|
average | average | ||||||||||
| Location of underlying property |
Number of mortgages |
Outstanding amount |
Percentage outstanding |
loan to value |
interest rate |
|||||||||
| (outstanding amounts in 000s) | ||||||||||||||
| Greater Toronto Area | 166 | $ | 653,401 |
73.1% |
61.4% |
11.63% |
||||||||
| Non-GTA Ontario | 52 | 40,753 |
4.6% |
64.6% |
9.81% |
|||||||||
| British Columbia | 24 | 191,955 |
21.5% |
60.6% |
10.95% |
|||||||||
| Alberta | 1 | 7,450 |
0.8% |
71.0% |
14.00% | |||||||||
| 243 | $ | 893,559 |
100.0% |
61.4% |
11.42% | |||||||||
| 截至2023年12月31日 | ||||||||||||||
| 加權 | 加權 | |||||||||||||
| |
|
|
平均的 | 平均的 | ||||||||||
| 標的財產的位置 |
的數量 抵押貸款 |
傑出 金額 |
百分比 傑出的 |
貸款給 價值 |
利息 評分 |
|||||||||
| （以000年代爲單位的未繳款額） | ||||||||||||||
| 大多倫多地區 | 166 | $ | 653,401 |
73.1% |
61.4% |
11.63% |
||||||||
| 非 GTA 安大略省 | 52 | 40,753 |
4.6% |
64.6% |
9.81% |
|||||||||
| 不列顛哥倫比亞省 | 24 | 191,955 |
21.5% |
60.6% |
10.95% |
|||||||||
| 阿爾伯塔 | 1 | 7,450 |
0.8% |
71.0% |
14.00% | |||||||||
| 243 | $ | 893,559 |
100.0% |
61.4% |
11.42% | |||||||||
For further information on the financial results, and further analysis of the company's mortgage portfolio, please refer to Atrium's consolidated financial statements and its management's discussion and analysis for the year ended March 31, 2024, available on SEDAR+ at , and on the company's website at .
有關財務業績的更多信息以及對公司抵押貸款組合的進一步分析，請參閱Atrium的合併財務報表及其管理層對截至2024年3月31日止年度的討論和分析，可在SEDAR+上查閱，也可以在公司網站上查閱。
About Atrium
關於 Atrium
Canada's Premier Non-Bank Lender
Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at or investor information on Atrium's website at .
加拿大首屈一指的非銀行貸款機構
Atrium是一家非銀行的住宅和商業抵押貸款提供商，在加拿大主要城市中心提供貸款，那裏房地產的穩定性和流動性很高。Atrium的目標是爲股東提供穩定和安全的股息，並在保守的風險參數範圍內通過貸款來保護股東權益。Atrium 是加拿大定義的抵押貸款投資公司 (MIC) 《所得稅法》，因此，只要其應納稅所得額在每年12月31日之後的90天內以股息形式支付給股東，則不對所得徵稅。此類股息通常被股東視爲利息收入，因此每個股東的處境就好像公司的抵押貸款投資是由股東直接進行一樣。有關Atrium的更多信息，請參閱監管文件或Atrium網站上的投資者信息，網址爲。
For additional information, please contact
欲了解更多信息，請聯繫
Robert G. Goodall
Chief Executive Officer
羅伯特·古道爾
首席執行官
John Ahmad
Chief Financial Officer
約翰·艾哈邁德
首席財務官
(416) 867-1053
info@atriummic.com
(416) 867-1053
info@atriummic.com
譯文內容由第三人軟體翻譯。