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Economic Investment Trust Limited (T:EVT)

Business Focus: Closed End Funds

Sector:  Financials Industry:  Closed End Funds
See Regulatory Filings on SEDAR
Company Contact
Address: 165 University Avenue, 10th Floor
Tel: N/A
IR: See website
Key People
Duncan N. R. Jackman
Chairman of the Board, President, Chief Executive Officer
Frank J. Glosnek
Acting Chief Financial Officer, Treasurer
Scott F. Ewert
Vice President
Richard B. Carty
Corporate Secretary
Business Overview
Economic Investment Trust Limited is a closed-end investment company. The Company is an investment vehicle for long-term growth through investments in common equities. The Company's objective is to earn an above-average rate of return, primarily through long-term capital appreciation and dividend income. Its investment portfolio comprises a mix of Canadian and foreign investments. The Company invests in interest-bearing short-term securities pending the selection of suitable equity investments. The Company owns, directly and indirectly, long-term investments in the common shares of some publicly traded Canadian companies, and a managed global investment portfolio of common shares of publicly-traded global companies. Its long-term investments consist primarily of the publicly traded common shares of E-L Financial Corporation Limited, Algoma Central Corporation, and The Bank of Nova Scotia. Its investment manager is Neuberger Berman Canada ULC.
Financial Overview
For the six months ended 30 June 2022, Economic Investment Trust Limited revenues decreased from C$148M to -C$117.2M. Net loss totaled C$102.4M vs. income of C$126.9M. Revenues reflect Other net fair value changes in investme decrease from C$135M to -C$143.3M. Net loss reflects Office and miscellaneous increase of 29% to C$183K (expense), Directors remuneration increase of 9% to C$192K (expense). Dividend per share remained flat at C$0.60.
Employees: 11 as of Dec 31, 2001
Reporting Currency: Canadian Dollars
Enterprise value: $665.53M as of Jun 30, 2022
Annual revenue (TTM): $-23.83M as of Jun 30, 2022
EBITDA (TTM): -$27.20M as of Jun 30, 2022
Net annual income (TTM): -$17.47M as of Jun 30, 2022
Free cash flow (TTM): $10.82M as of Jun 30, 2022
Net Debt Last Fiscal Year: N/A
Shares outstanding: 5,567,635 as of Aug 4, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization