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Aberdeen International Inc
Symbol AAB
Shares Issued 137,052,282
Close 2021-09-10 C$ 0.20
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Aberdeen International earns $10.9-million in Q2

2021-09-10 07:44 ET - News Release

Mr. Chris Younger reports

ABERDEEN INTERNATIONAL INC. (TSX: AAB, FR: A8H, OTC: AABVF) REPORTS 2021 Q2 RESULTS WITH NET INCOME OF $0.08 PER SHARE REPRESENTING 300% QUARTER-OVER-QUARTER GROWTH AND 167% YEAR-OVER-YEAR GROWTH

Aberdeen International Inc. has released its financial results for the second quarter ended July 31, 2021.

For the three months ended July 31, 2021, Aberdeen reported net income of $10.9-million or eight cents per basic share on total revenue of $11.6-million. Revenue comprised $11.5-million from net investment gains and $100,000 from interest income. For the three months ending July 31, 2020, Aberdeen reported net income of $3.1-million or three cents per basic share on total revenue of $3.7-million ($3.6-million from net investment gains and $100,000 from interest income and advisory fees). Quarterly performance represents a 300-per-cent increase in net income per share over the quarter ended April 30, 2021, and a 167-per-cent increase in the quarter ended April 30, 2020.

For the six months ended July 31, 2021, Aberdeen reported net income of $14.2-million or 10 cents per basic share on total revenue of $15.6-million. For the six months ended July 31, 2020, Aberdeen reported net income of $4.6-million or five cents per basic share on total revenue of $5.5-million. Performance for the first half of 2021 represents a 100-per-cent increase in net income per share over the first half of 2020.

The company's investment portfolio gains for the first half of the year were generated by significant contributions from clean energy investments in novel hydrogen and ammonia production technologies, AES-100 Inc. and AmmPower Corp., with the former seeing an $11-million increase in fair market value due to the acquisition of a significant non-controlling stake by a strategic investor. Portfolio investee Flora Growth Corp. also made a marked contribution to earnings as shares saw considerable appreciation in trading on the Nasdaq Stock Market.

"We're very pleased with the continued strength of our portfolio, particularly our investment in AES-100 and the interest it has garnered from other clean energy-focused investors. We had a tremendous quarter that reflects the growth potential of our investments as well as the work that has gone into increasing our exposure to the energy transition. The global shift that we are seeing towards low-carbon solutions is still in its infancy and we are positioning to capitalize on compelling opportunities as they arise," said Chris Younger, chief executive officer of Aberdeen International.

The company continues to focus on the transition to an economy fuelled by clean energy, seeking attractive investment opportunities and strategic partners that can drive ever-greater portfolio value.

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 for the production of hydrogen from dilute syngas.

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