2022: Royal Canadian Mint Meets Expectations

The Royal Canadian Mint has published its results for 2022, stating that, whilst its financial performance was below 2021 levels, this was expected given the exceptional performance seen in 2021, and planned operational maintenance in 2022. The Mint still exceeded its financial goals for 2022, as set out in the Corporate Plan.

Revenue for the year at $38 billion was 9% below 2021. Profit before income tax and other items was $45 million, 45% lower than $82.1 million in 2021. The Mint paid $40.7 million in dividends to its shareholder, the Canadian Government compared with $78.9 million in 2021.

Revenue from the Canadian Circulation Programme increased by 5% to $95.6 million, mainly due to a different mix of denominations combined with higher Alloy Recovery Programme (ARP) metric tons processed in 2022. This was partially offset by lower circulation coin volumes produced (135.8 million, compared with 148.4 million in 2021) and programme fees. In total, new coins sold to financial institutions and others came to 336 million pieces, 11% less than the 379 million pieces in 2021.